TheStrategyLab.com Price Action Trading Support Forum

Forum for price action traders that want to learn WRB Analysis basic tutorial chapters 1, 2 and 3 prior to purchasing our advance trade methods. Hashtags: #wrbanalysis #wrbzone #wrbhiddengap #priceaction #trading
It is currently Thu Mar 28, 2024 5:58 pm

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: September 15th Wednesday 2010 Emini TF ($TF_F) points +5.80
PostPosted: Tue Sep 21, 2010 9:18 am 
Offline
Site Admin

Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
Image

Trade Journal By M.A. Perry
Trader and Founder of WRB Analysis (wide range body analysis)

Trade journals are crucial in preventing us traders from becoming complacent or content with our trading plan or the markets because without having the ability to review archives of past trading days in a forever changing market...we won't know it's time to adapt when change occurs in the markets because broker statements alone doesn't help us keep that edge in comparison to a trade journal. In addition, this public trade journal contains useful trading tips a few times per week to encourage readers to return for more information and to help ensure I myself don't forget the importance of basic concepts within my own trading plan. Further, there are market summaries from Youtube Bloomberg, CNNMoney and Yahoo Finance as a quick archive of what happened in the markets on a particular day of trading. Thus, if you're looking for trading tips and market summaries that can improve your trading and/or understanding of what happen on a particular day that involves more than just entry signals...consistently read this trade journal and the #FuturesTrades chat room logs where I post my trades in real-time from entry to exit (see link below) via my IRC user name wrbtrader.

Today's #FuturesTrades chat room logs is archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=78&t=621

click on the below image to view normal size

Trade Performance for Today: +5.80 points or $580 dollars in the ICE Russell 2000 Emini TF ($TF_F) Futures.
1 tick or 0.10 = $10 dollars and to find out more contract information about the Russell 2000 Emini TF...click here.

FYI - You can ask me questions here at the forum or you can tweet me on twitter about any thing related to today's trading or related to your own trading.

Image@ http://twitter.com/wrbtrader


In addition, posted below are direct links about my trade methodology or trading approach that enables me to identify key trading areas in the price action that represent changes in supply/demand and volatility along with being able to exploit these changes via WRB Analysis (wide range body analysis).

Image WRB Analysis Tutorials @ http://www.thestrategylab.com/WRBAnalysisTutorials.htm and there's a free study guide of the WRB Analysis Tutorial Chapters 1, 2 and 3 @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=119. However, you must join the TSL Support Forum to access the free study guide. To register...click here.

Image Volatility Trading Report (VTR) @ http://www.thestrategylab.com/VolatilityTrading.htm

Image Daily Trade Routine @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=121&t=761

------------------------------

Special thanks to Bloomberg, CNNMoney and Yahoo! Finance for their market summaries. gm

Stocks End Higher On Dollar Moves
Attachment:
chart_ws_index_dow.top[1].png
chart_ws_index_dow.top[1].png [ 18.14 KiB | Viewed 325 times ]

click on the above image to view normal size

By Julianne Pepitone, staff reporter
September 15, 2010: 4:30 PM ET

NEW YORK (CNNMoney.com) -- Stocks surged in the last half hour of trading to close higher Wednesday, tracking the U.S. dollar's strength after Japan moved to rein in the surging yen.

The Dow Jones industrial average (INDU) rose 46 points, or 0.4%, to close at 10,572.73. The Nasdaq (COMP) added 12 points, or 0.5%, to end at 2,301.32, and the S&P 500 (SPX) ticked up 4 points, or 0.4%, to settle at 1,125.07.

Energy and technology shares had been lower earlier in the session, dragging down the broader indexes, but they turned mixed in the last hour of trade. Housing shares remained mostly lower.

Foreign exchange rates were in the spotlight after the Japanese government's first jump into the currency market since 2004. The yen rose to a fresh 15-year high against the dollar Tuesday, prompting recently re-elected Japanese Prime Minister Naoto Kan to announce the nation will sell yen and buy dollars. The move boosted the dollar Wednesday.

Stock trading has been choppy over the past few sessions as investors searched for a catalyst to spur buying. All three indexes opened modestly lower Wednesday, but analysts expected more volatility with little on the docket to push stocks one way or another.

"Today's reports underwhelmed, but they weren't far off the mark," said Mark Luschini, chief investment strategist at Janney Montgomery Scott. "There's no big data pushing a major move either higher or lower."

Stocks ended mixed Tuesday, as a recent rally on Wall Street ran out of steam. Investors welcomed a slightly better-than-expected report on U.S. retail sales, but the Dow and S&P 500 both closed lower.

Spotlight on manufacturing: The manufacturing sector has expanded for 13 straight months, making it a bright spot against a backdrop of fears of a slower recovery. A report released earlier this month showed activity grew well beyond expectations in August.

However, two manufacturing reports released Wednesday just missed experts' predictions.

The Federal Reserve Bank of New York said business conditions in New York state remained positive in September, although activity slowed from August.

Also on Wednesday, the Commerce Department said industrial production rose 0.2% in August, below the 0.3% gain expected by economists. Capacity utilization fell to 74.7%, from a downwardly revised 74.8%.

Coming up Thursday, the Philadelphia Fed will release its regional manufacturing data.

Economy: The government said U.S. import prices increased 0.6% in August, driven by rising gas prices. Export prices rose 0.8% in the month.

Former Fed chairman Alan Greenspan called for the government to raise taxes in a speech before the Council on Foreign Relations in New York.

Companies: MasterCard (MA, Fortune 500) shares gained to end 5.3% higher. The company said it expects its net income to rise at least 20% this year, due to a decline in expenses and favorable foreign exchange rates.

Shares of most big banks closed mixed Wednesday, the second anniversary of the failure of Lehman Brothers.

Novell (NOVL) shares rose to end up almost 6% on unconfirmed talk that the network software company is preparing to sell itself in two parts.
The bankers who said 'hell no' to bailouts

World markets: European shares ended lower. The CAC 40 in France fell around 0.4%, Germany's DAX slipped 0.1%, and Britain's FTSE 100 was 0.2% lower.

Asian markets ended mixed, with Japan's benchmark Nikkei index surging 2.3% on the back of the yen intervention. The Hang Seng in Hong Kong rose 0.1% and the Shanghai Composite fell 1.3%.

Currencies and commodities: The dollar rose against the euro and the British pound, and surged more than 2.5% against the Japanese yen.

Oil futures for October delivery fell $1 to $75.80 a barrel. A report late Tuesday from the American Petroleum Institute showed an unexpected increase in crude supplies last week, while the more closely watched inventory report from the Energy Information Administration showed that supplies fell.

Gold for December delivery eased $3 to settle at $1268.70. On Tuesday, the December contract settled at a record high of $1,271.70.

Bonds: The yield on the 10-year Treasury note rose to 2.72% from 2.67% late Tuesday.

Image

Yahoo! Finance

4:30 pm : Stocks spent most of the session plodding along the neutral line until a late lift helped them settle with solid gains. However, the late climb couldn't quite build enough momentum to make a move past key resistance levels.

Moderate weakness at the open led to a lower start, but the broader market was able to attract support as the 1115 line held for the S&P 500. The 1115 line not only marks the stock market's 200-day moving average, but it is also the dividing point between year-to-date gains and losses.

Technical support helped participants shrug off a disappointing September Empire Manufacturing Index, which slipped to 4.1 from 7.1. It had been expected that it would come in at 6.4.

Import prices heated up in August with a 0.6% monthly increase. They had increased just 0.1% in the prior month.

Industrial production increased 0.2% in August, but the consensus called for a slightly stronger hike of 0.3% after a 0.6% increase in the prior month. Capacity utilization in August was 74.7%, not too different than the 75.0% that was widely forecasted.

Market participants were hardly surprised by the decision of Japan's government to curtail the yen's strength by intervening in currency markets since there had been plenty speculation about such a measure in recent weeks. Still, Japan's Nikkei Index spiked more than 2% overnight as exporters found favor amid a 3% drop in the yen. Though Japan's currency remains near its 15-year high, a cheaper yen makes U.S. exports more expensive to Japan.

Stocks spent latter part of the morning and most of the afternoon confined to a relatively narrow range. There was no headline or clear catalyst responsible for the bounce, but stocks broke free in the final hour to finish near session highs. However, the S&P 500 could not attract enough support to take it back to the prior session's high, which are in line with the top of the summer trading range and the "flash crash" close.

Participation was unimpressive once again as trading volume on the NYSE failed to break above 1 billion shares.

Despite the apparent lack of conviction, the only thing investors care about at the end of the day is whether their holdings advanced. That said, health care stocks had the best performance. The sector swung to a 0.8% gain. Savient Pharmaceuticals (SVNT 19.98, +5.22) was a standout after the FDA approved a gout drug from the firm.

Tech stocks were relatively strong for the second straight session, though their collective 0.6% gain came without help from semiconductor stocks (-0.3%).

Financials (+0.4%) had a relatively quiet session as bank stocks were mixed following their pullback in the prior session. However, MasterCard (MA 210.18, +10.43) outperformed after it announced the approval of a $1.0 billion share repurchase plan and stated it expects earnings per share to achieve a compound annual growth rate of 20% or more until fiscal 2013.

Energy stocks lagged for the entire session, but the sector managed to limit its loss to 0.2%. A 1.0% decline in oil prices to $76.02 per barrel weighed on the sector. Oil prices had been down more than 2% ahead of an in-line inventory report, though.

Advancing Sectors: Health Care (+0.8%), Consumer Staples (+0.7%), Tech (+0.6%), Telecom (+0.5%), Financials (+0.4%), Consumer Discretionary (+0.2%), Industrials (+0.1%)
Declining Sectors: Utilities (-0.5%), Energy (-0.2%), Materials (-0.1%)DJ30 +46.24 NASDAQ +11.55 NQ100 +0.6% R2K +0.5% SP400 +0.4% SP500 +3.97 NASDAQ Adv/Vol/Dec 1480/2.08 bln/1109 NYSE Adv/Vol/Dec 1591/900 mln/1406

3:30 pm : The CRB Commodity Index shed 0.4% this session. Lower oil prices were mostly responsible for that loss.

Oil futures prices fell 1.0% to $76.02 per barrel. They had been down more than 2% at their session low, which preceded the midmorning release of weekly inventory data. The data showed a draw of 2.49 million barrels, which is essentially what had been expected.

In contrast, natural gas attracted support. Contracts for the commodity closed pit trade with a 0.9% gain at $4.00 per MMBtu.

In the precious metals space, gold prices gave up 0.2% to settle at $1268.70 per ounce, while silver extended its climb another 0.7% to $20.57 per ounce. Silver was as high as $20.65 per ounce, which marked a new 30-month high for the metal. DJ30 +55.21 NASDAQ +13.69 SP500 +4.77 NASDAQ Adv/Vol/Dec 1540/1.68 bln/1055 NYSE Adv/Vol/Dec 1645/598 mln/1342

3:00 pm : The S&P 500 has paused at the neutral line, though underlying action is weakening, such that only four of the major sectors in the S&P 500 are still in positive territory -- health care (+0.6%), consumer staples (+0.5%), tech (+0.4%), and telecom (+0.3%) are the only sectors sporting gains.

Utilities stocks have fallen to a 0.8% loss, which makes them the worst performing sector at the moment. Energy stocks have been roughed up, too. The sector is down 0.6%. DJ30 +20.9 NASDAQ +6.03 SP500 +0.37 NASDAQ Adv/Vol/Dec 1329/1.51 bln/1239 NYSE Adv/Vol/Dec 1365/535 mln/1601

2:30 pm : Stocks slipped slightly in recent trade, but the broader market remains in positive ground after it opened the session on a weaker note for the second straight day. Opening pressure quickly dissipated as the S&P held again near support at the 1115 line, which is essentially where its 200-day moving average point stands. The 1115 mark is also right about where stocks started the year.

Though stocks have spent the afternoon in positive territory, upside movement has been restricted. In turn, the stock market has failed to return to the prior session's high, which coincides with the top of the stock market's summer range and the "flash crash" close. DJ30 +20.97 NASDAQ +6.56 SP500 +0.81 NASDAQ Adv/Vol/Dec 1334/1.38 bln/1223 NYSE Adv/Vol/Dec 1415/490 mln/1555

2:00 pm : Stocks are stuck in a bit of a sideways drift. Despite their modest, yet steady gains, volatility remains up as the Volatility Index gains 4.5%.

The dollar has eased back a bit from earlier levels. At its session high it sported a 0.7% gain, but it is now up a tame 0.2% against a basket of competing currencies. Most of its strength stems from a sharp drop in the yen, which is still down close to 3% against the greenback after Japan's government intervened in currency markets for the first time in about six years in order to curtail the yen's strength, which has proven detrimental to Japan's exporters. DJ30 +34.48 NASDAQ +9.25 SP500 +2.34 NASDAQ Adv/Vol/Dec 1398/1.27 bln/1141 NYSE Adv/Vol/Dec 1539/450 mln/1421

1:30 pm : Stocks added slightly to their gains with a recent move to fresh session highs. Still, overall gains remain contained.

Treasuries at the long end of the yield curve have come under pressure. As such, the 30-year Bond is down a full point and the benchmark 10-year Note is down about eight ticks. Their yields stand at 3.86% and 2.70%, respectively. Meanwhile, the 2-year Note and 5-year Note are both up a single tick with respective yields of 0.48% and 1.44%. DJ30 +32.09 NASDAQ +8.79 SP500 +2.04 NASDAQ Adv/Vol/Dec 1374/1.17 bln/1147 NYSE Adv/Vol/Dec 1505/418 mln/1434

1:00 pm : Stocks opened with a slight loss for the second straight session, but they have since managed to muster a very modest gain without any real catalyst for buying.

Resistance near the high end of the summer trading range capped the stock market's recent climb and gave way to a flat finish to the prior session. The lack of gusto carried over into early action this morning. Not even news that Japan's government intervened in currency markets in order to curtail strength in the yen inspired early participants, though Japan's Nikkei spiked and the yen plummeted.

Data did little for the early mood as the Empire Manufacturing Index for September came in below expectations and import prices for August increased more than expected. Industrial production for August increased at a slightly slower clip than what had been expected and capacity utilization was slightly lower than what had been forecasted.

Despite lackluster action early on, the S&P 500 found support near the 1115 line for the second straight session. It has since made its way into positive territory, but overall gains have been limited as many remain unsure whether stocks can continue their bullish trend amid formidable resistance and a lack of upbeat headlines.

Despite the muddled appearance of the broader market, Tech stocks are in strong shape. The sector is currently up 0.6%, though semiconductor stocks have slipped to a 0.6% loss after climbing for a cumulative gain of approximately 5% during the two previous sessions.

Health care stocks are also strong. The sector is up 0.7% after the FDA approved a gout drug from Savient Pharmaceuticals (SVNT 19.13, +4.37).

In contrast, energy stocks are down 0.7%. Their weakness has been exacerbated by lower oil prices, which were last quoted at $75.70 per barrel, down 1.4%. Oil prices have been under pressure all session, though the draw in weekly inventories was only slightly smaller than expected.

Financials are flat after a soft start. The sector had been bogged down by bank stocks, but it has since recovered. MasterCard (MA 212.75, +13.00) is a leader in the group after it announced the approval of a $1.0 billion share repurchase plan and extended its earnings growth forecast. DJ30 +33.00 NASDAQ +8.51 SP500 +1.85 NASDAQ Adv/Vol/Dec 1321/1.07 bln/1169 NYSE Adv/Vol/Dec 1443/380 mln/1470

12:30 pm : Some whipsaw action is taking place among education services stocks as fund manager Steve Eisman expresses a pessimistic opinion on the space during an interview on CNBC. Among the more widely held names in the for-profit education arena, Strayer (STRA 149.79, -1.89), DeVry (DV 42.36, -0.12), and ITT (ITT 45.72, -0.29) are in the red, but Career Education (CECO 18.65, +0.06), Corinthian Colleges (COCO 5.71, +0.01), and Lincoln Educational Services (LINC 12.29, +0.16) have all caught a bid. DJ30 +32.39 NASDAQ +8.42 SP500 +1.71 NASDAQ Adv/Vol/Dec 1322/953 mln/1161 NYSE Adv/Vol/Dec 1458/350 mln/1451

12:00 pm : The S&P 500 has made its way to its best level of the day, but its gain remains very modest. The Dow, however, has put together a slightly stronger gain. It is currently led by Cisco (CSCO 21.76, +0.31), Travelers (TRV 52.22, +1.20), and Kraft Foods (KFT 31.46, +0.41). Kraft recently announced that its acquisition of Cadbury is expected to yield $1 billion in revenue synergies. DJ30 +37.39 NASDAQ +5.67 SP500 +1.46 NASDAQ Adv/Vol/Dec 1267/844 mln/1173 NYSE Adv/Vol/Dec 1416/319 mln/1477

11:30 am : With a collective loss of 0.3% financial stocks are lagging for the second straight session. However, MasterCard (MA 208.21, +8.46) is up with a handsome gain following the decision by its Board of Directors to approve a $1.0 billion share repurchase plan. MasterCard also recently announced that it expectes net revenue to increase at a compound annual growth rate of 12% to 14% and earnings per share to climb at a compound annual growth rate of 20% or more for fiscal years 2011 to 2013. The company had previously stated that it expected that pace of earnings growth to hold through fiscal 2011. DJ30 +26.87 NASDAQ +0.36 SP500 -0.32 NASDAQ Adv/Vol/Dec 1137/731 mln/1273 NYSE Adv/Vol/Dec 1273/279 mln/1582

11:00 am : Stocks are chopping along with slight gains. Despite their move out of the red, volatility is up 4%, as measured by the Volatility Index (VIX). Just yesterday the VIX set a new four-month low.

AK Steel (AKS 13.73, -0.80) is under stiff pressure at the moment. Its loss stems from news that the company now expects an operating loss for the third quarter. It had previously forecast an operating profit. Weakness in shares of AKS has imbued U.S. Steel (X 46.21, -0.62) and Nucor (NUE 39.15, -0.26). Shares of NUE actually saw a flash crash in the prior session when their price plummeted momentarily. DJ30 +31.60 NASDAQ +2.12 SP500 +0.45 NASDAQ Adv/Vol/Dec 1175/634 mln/1199 NYSE Adv/Vol/Dec 1290/245 mln/1525

10:30 am : Commodities are mixed this morning, while the dollar index is trading near session highs of 81.76. Energy markets are weak, excluding natural gas.

October crude oil has been in the red all session. A few minutes after pit trading began, crude hit its lowest level of the data, falling to $74.66 per barrel. The energy component has only recovered modestly since and was near session lows ahead of the inventory data. Following the data, which showed a draw of 2.489 million versus consensus of a draw of 2.5 million, crude ticked modestly higher and is now 1.5% lower at $75.64 per barrel.

October natural gas, on the other hand, rallied into positive territory before 8:00am ET and has remained there in recent trade. Natural gas hit fresh morning highs of $4.05 per MMBtu just after the open and moved back to those levels in the most recent activity, now 1.5% higher at $4.02 per MMBtu.

December gold has been chopping around between around $1266.80 and $1271.70 per ounce for the last four hours and is currently just under the unchanged line at $1271.00 per ounce. December silver fell into the red and to new session lows of $20.34 per ounce 10 minutes after pit trading started. However, the precious metal quickly bounced back into positive territory and back near current session highs of $20.56 per ounce. Silver is currently 0.7% higher at $20.57 per ounce.
DJ30 +23.99 NASDAQ +0.95 SP500 +0.15 NASDAQ Adv/Vol/Dec 1037/439.4 mln/1234 NYSE Adv/Vol/Dec 1261/174.1 mln/1484

10:00 am : Stocks have pulled up since the S&P 500 came in contact with the 1115 line, which provided a floor in the prior session. Overall action is still somewhat muddled, but tech stocks have emerged as a source of support for the broader market.

Tech has made its way to a 0.2% gain after opening in the red. Tech provided leadership in the prior session, though the sector saw its gain more than halved by the time trade closed. In contrast to the prior session, semiconductor stocks are under pressure, such that the Philadelphia Semiconductor Index is down 1.0% after it advanced approximately 5% during the course of trade on Monday and Tuesday. DJ30 -3.63 NASDAQ -6.02 SP500 -2.42 NASDAQ Adv/Vol/Dec 717/277 mln/1479 NYSE Adv/Vol/Dec 828/120 mln/1873

09:45 am : The major equity averages are down with modest losses in the first few minutes of trade. Weakness is widespread with nine of the 10 major sectors currently in the red.

Energy stocks are under the most pressure. Specifically, the sector has already shed 1.0%. Its weakness has been exacerbated by a 2.0% drop in oil prices to $75.20 per barrel. Weekly oil inventory data is due at 10:30 AM ET.

Financials aren't far behind the energy sector. They are down 0.8%, collectively, though most of that is owed to renewed weakness among diversified banks (-1.3%) and regional banks (-1.5%).

Health care stocks have managed to muster a 0.1% gain in the face of broader market weakness. Savient Pharmaceuticals (SVNT 18.41, +3.65) is a standout in the sector after it won drug approval from the FDA. DJ30 -29.25 NASDAQ -10.01 SP500 -5.00 NASDAQ Adv/Vol/Dec 545/158 mln/1581 NYSE Adv/Vol/Dec 618/78 mln/2035

09:15 am : S&P futures vs fair value: -4.20. Nasdaq futures vs fair value: -8.00. Stocks had made heady gains over the past couple of weeks, but they ran into resistance in the prior session. The inability to extend their climb led to a mixed finish yesterday, and has also made for some rather muddled trade ahead of this morning's open. The biggest headline, so far, is the decision by Japan's government to intervene in currency markets so as to curtail strength in the yen, which is currently down 3.0% against the dollar. Domestic data has been lackluster. The Empire Manufacturing Index for September came in below expectations and import prices for August increased more than expected. Released a few minutes ago, industrial production for August increased 0.2%, which is a bit weaker than the 0.3% increase that had been widely expected. Production for the prior month was downwardly revised to reflect a 0.6% increase. As for capacity utilization, it came in at 74.7%, which is hardly changed from the 74.6% that was recorded for July. Capacity utilization had been expected to come in at exactly 75.0%.

09:00 am : S&P futures vs fair value: -4.30. Nasdaq futures vs fair value: -7.80. Domestic stock futures continue to trail fair value. Meanwhile, Germany's DAX is down 0.7% at the moment. Its declining issues outnumber its advancers by 6-to-1. Deutsche Bank (DB) and Deutsche Post are primary sources of weakness, while Infineon Tech has bounced back from its prior session loss to provide support. In France, the CAC has fallen to a 0.9% loss. Declining issues outnumber advancers by 4-to-1 there. Total (TOT) and BNP Paribas are among the heaviest drags on trade. Alstom and Peugeot are primary sources of support. Britain's FTSE is off by 0.5%. BP Plc (BP) and Rio Tinto (RTP) are key culprits in the slide. Tesco has been strong, though.

Overnight action in Asia was mixed. Japan's Nikkei spiked to a 2.3% gain after the country's government intervened in currency markets to curtail strength in the yen. In response, the yen pulled back to its lowest level of the month against the dollar. It is currently down more than 3% against the greenback. More than 90% of the 225 components in the Nikkei advanced. Fanuc LTD, Fast Retailing, and Honda Motor (HMC) were leaders, while Isetan Mitsukosh and Shinsei Bank were among the handful of names to log losses. In contrast, the Shanghai Composite dropped 1.3% as almost three-quarters of its components succumbed to selling. China Life Insurance and PetroChina (PTR) were among the heaviest drags. Beijing Capital and China United showed resilience, though. The Hang Seng squeaked out a 0.1% gain. HSBC (HBC) was a primary leader, but Bank of China was hit hard by sellers.

08:35 am : S&P futures vs fair value: -5.20. Nasdaq futures vs fair value: -9.30. Stock futures slipped to morning lows in the moments leading up to the latest dose of data, but they have since stabilized. The Empire Manufacturing Index for September came in at 4.1, which is below the mean estimate of 6.4 that was produced by a survey of economists polled by Briefing.com. The September number also marks a slip from the 7.1 that was registered in the prior month. Separately, import prices for August increased 0.6% month-over-month. They had made a much more modest monthly increase of 0.1% in the prior month.

08:00 am : S&P futures vs fair value: -3.30. Nasdaq futures vs fair value: -7.00. Resistance at the top of the summer trading range had a hand in the prior session's generally flat finish. Uncertainty about whether stocks can ultimately add to the heady gains of the past couple of weeks or are due for a pullback has made for a subdued mood this morning. Action in Europe is generally lackluster as the major bourses there trade with moderate losses. Overnight action in Asia was mixed as the Shanghai Composite dropped more than 1%, but Japan's Nikkei spiked more than 2% after the country's government intervened in currency markets to curtail strength in the yen. The yen is currently down almost 3% to its lowest level of the month against the greenback. Due shortly are import price data for August and the September Empire Manufacturing Index (8:30 AM ET). Industrial production and capacity utilization figures for August follow (9:15 AM ET).

07:10 am : S&P futures vs fair value: -4.30. Nasdaq futures vs fair value: -6.50.

07:10 am : Nikkei...9516.56...+217.30...+2.30%. Hang Seng...21725.64...+29.60...+0.10%.

07:10 am : FTSE...5556.82...-10.70...-0.20%. DAX...6253.65...-21.80...-0.40%.

Special thanks to Bloomberg, CNNMoney and Yahoo! Finance for their market summaries. gm

Best Regards,
M.A. Perry
Trader and Founder of WRB Analysis (wide range body analysis)
Image@ http://twitter.com/wrbtrader and http://stocktwits.com/wrbtrader

Phone: +1.708.572.4885
Business Hours: 8am - 5pm est (Mon - Fri)
Skype Messenger: kebec2002
questions@thestrategylab.com
Go Back To TheStrategyLab.com Homepage


Top
 Profile  
 
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 1 post ] 

All times are UTC - 5 hours [ DST ]


Who is online

Users browsing this forum: No registered users and 1 guest


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to:  
cron
Powered by phpBB © 2000, 2002, 2005, 2007 phpBB Group
Translated by Xaphos © 2007, 2008, 2009 phpBB.fr