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 Post subject: December 1st Wednesday 2010 Emini TF ($TF_F) points +1.30
PostPosted: Wed Dec 01, 2010 9:15 pm 
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Only Trading (no indicators)

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Quote:
Today was another big gap at the open on the regular session chart due to the big directional price movement in the overnight trading session. Simply, on trading days like today...the volatility is too low for intraday trade opportunities. Thus, very few day trading opportunities via volatility analysis and I spent most of my day studying the price action of treasury futures and the U.S. dollar index.

Trade Performance for Today: +1.30 points or $130 dollars in the ICE Russell 2000 Emini TF ($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.

In addition, today's #FuturesTrades chat room logs provides details about each trade from entry to exit along with commentary as the trade traversed...all archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=84&t=693

Also, posted below are direct links to information about my trade methodology and trading plan (there's a difference between the two) 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/bar 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 Trading Plan Daily Routine @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=128&t=854

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Image Market Summaries

The below summaries by Bloomberg, CNNMoney and Yahoo! Finance helps me to do a quick review of the fundamentals, FED actions, global economics that had an impact on today's price action. Simply, I'm a strong believer that many variables causes key changes in supply/demand and volatility that's arguably just as important as my technical analysis.

Image CNNMoney.com - Stocks Rally: Dow Soars 249 Points
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By Ben Rooney, staff reporter
December 1, 2010: 5:05 PM ET

NEW YORK (CNNMoney.com) -- Stocks surged over 2% Wednesday as signs of economic strength in the United States and China tempered worries about the European debt crisis.

The Dow Jones industrial average (INDU) soared 249 points, or 2.3%, to close at 11,256. The S&P 500 (SPX) jumped 25 points, or 2.2%, to 1,206. The Nasdaq (COMP) added 51 points, or 2%, to 2,549.

It was the biggest one-day gain for the Dow since early September, and came after stocks ended November on a sour note, with all three major gauges marking declines for the month.

Stocks opened sharply higher Wednesday as investors cheered a batch of upbeat economic reports, including a strong gain in private-sector payrolls and better-than-expected auto sales.

The rally gained momentum after economists at Goldman Sachs (GS, Fortune 500) raised their forecast for U.S. growth next year to 2.7% from 1.9%. The Federal Reserve's latest snapshot of economic conditions showed the nation's gradual recovery continued in October and November.

"There's a growing sense the economy isn't doing as badly as was priced in three months ago," said Brian Gendreau, market strategist at Financial Network. "All it took was mixed news to price out the double-dip recession, now we're getting genuinely good news."

The improved outlook for U.S. growth temporarily overshadowed concerns about the debt problems facing some European economies. Those jitters were further eased by comments from the head of the European Central Bank, which raised speculation that the ECB is prepared to take additional steps to aid the European economy.

Meanwhile, investors also welcomed a robust reading on manufacturing activity in China, which helped lift shares of major U.S. multinationals, as well as companies in the industrial and materials sectors.

All 30 Dow issues were higher. Home Depot (HD, Fortune 500) was biggest gainer on the blue-chip average, rising nearly 5%. United Technologies (UTX, Fortune 500), Microsoft (MSFT, Fortune 500) and Alcoa (AA, Fortune 500) all gained over 3%.

"There is some chance that this is an effort to get the rally back on track," said Bruce McCain, chief investment strategist at Key Private Bank, in reference to Wednesday's advance.

Stocks powered higher in September and October, before worries about eurozone debt damped enthusiasm in late November.

While it remains to be seen if the market can hold Wednesday's gains in the coming days, "there is evidence that the risk trade is coming back into the market," said McCain.

Looking ahead, the ECB is scheduled to release a policy statement early Thursday at the end its regularly scheduled meeting, and investors are expecting some form of stimulus to be unveiled.

The ECB statement is "the next big hurdle" for stocks, said Paul Zemksy, head of asset allocation at ING Investment Management.

"All expectations are for something positive to come out of the ECB meeting," he said. "If not, it could be a rough day."

Stocks fell Tuesday, as weak housing data and worries about the debt crisis in Europe overshadowed a better-than-expected report on consumer confidence.

Economy: Monthly data from payroll processing firm ADP showed an unexpectedly high gain of 93,000 private sector jobs in November.

It marked the biggest increase in three years and overshadowed an earlier report on planned job cuts in November from outplacement firm Challenger, Gray & Christmas.

Separately, the Institute of Supply Management's index of manufacturing activity edged down slightly in November to 56.6 from 56.9 the month before. Any reading above 50 signals expansion in the sector.

A government report showed that construction spending rose 0.7% in October, beating analysts' expectations of a 0.5% decrease.

The Federal Reserve's Beige Book, a snapshot of economic conditions across the central bank's 12 districts, showed that growth continued to improve in most U.S. regions from early October to mid-November.

World markets: Asian markets all ended higher after a couple of reports showed strength in China's economy. The Shanghai Composite added 0.1%, the Hang Seng in Hong Kong gained 1% and Japan's Nikkei rose 0.5%.

* Only one of the PIIGS matters. S is for Spain.

European stocks followed Asian market's rally. Britain's FTSE 100 rose 2%, the DAX in Germany added 2.6% and France's CAC 40 ticked up 1.6%.

The advance in Europe came after comments from ECB chairman Jean-Claude Trichet raised bets that the central bank could announce plans to buying more assets, a strategy known as quantitative easing, after a policy meeting Thursday.

"Trichet referred to bond purchases as 'ongoing,' which raises questions over whether the ECB will unleash its own version of quantitative easing," Ashraf Laidi, chief market strategist at CMC Markets, said in a note to clients.

If it does decide to buy assets, the ECB would be following in the footsteps of the Fed, which pledged last month to buy another $600 billion worth of Treasury bonds.

Companies: General Motors, fresh off its initial public offering, reported an 11% year-over-year increase in November new vehicle sales.

Rival automaker Ford (F, Fortune 500) reported a 20% rise in monthly sales, while Toyota (TM) sales fell 3.2% in November.
0:00 /1:27Verizon betting on 4G

In the tech sector, Verizon (VZ, Fortune 500) detailed the company's 4G network launch.

Shares of Bank of America (BAC, Fortune 500) were up 1.3% after the bank dismissed speculation that whistle-blower WikiLeaks had information that could be damaging to the company. BofA shares fell 3% on Tuesday.

Currencies and commodities: The dollar fell against the euro and the British pound, but gained against the Japanese yen.

Oil for January delivery jumped $2.63 to $86.73 a barrel.

Gold futures for February delivery rose $2.20 to $1,387.20 an ounce.

Bonds: The price on the benchmark 10-year U.S. Treasury fell, pushing the yield up to 2.92% from 2.81% late Tuesday.

Image

Image Yahoo! Finance - Market Update

4:15 pm : The stock market surged more than 2% to its best single-session gain in three months on solid volume as market participants shrugged off risk and engaged in a concerted buying effort.

The S&P 500 gapped up to the 1200 line in the opening minutes of trade as market participants responded to big gains by Europe's major bourses, which were helped by solid manufacturing data from both Europe and China, along with comments from European Central Bank President Trichet about support for the eurozone financial system. Trichet also made hints of increased bond purchases.

Although the report was later contradicted in the financial media, a midday story that the U.S. was willing to participate in a rescue fund for Europe helped the major equity averages move another leg higher. They spent most of the session consolidating gains along session highs that are near the upper end of a near-term resistance zone.

The strongest collective move was made by the energy sector, which swung to a 2.9% gain. In addition to broader market support, the sector was helped by crude oil's 3.1% spike to $86.75 per barrel.

Not to be ignored, the materials sector and industrials sector posted gains of 2.8% and 2.6%, respectively. Metals issues were among the biggest drivers of the materials sector's gain while building products plays provided leadership to the industrial space. Deere & Co. (DE 76.14, +1.44) was a laggard in the industrial sector, despite news of its dividend hike to $0.35 from $0.30 per share.

Not only were this session's gains rich, they were also broad as about 96% of the stocks in the S&P 500 advanced. Perhaps more impressive is that such a broad-based surge came on solid share volume as some 1.1 billion shares were traded on the NYSE.

With contagion concerns cooled and stocks in such strong shape, market participants dumped safe havens like the dollar and Treasuries. At the close of trade the dollar was down about 0.8% against competing currencies and the benchmark 10-year Note was off by more than a full point. The yield on the Note never broke above 3.00%, but it did set a four-month high of almost 2.99%.

Volatility cooled considerably. As such, the Volatility Index was down about 10% at the close.

The latest lot of data proved solid and, as such, only seemed to support this session's return to risk. A precursor to the official monthly nonfarm payrolls report on Friday, the latest ADP Employment Change data indicated that private payrolls expanded by 93,000 in November. Not only is that total greater than the 58,000 additions that had been expected, on average, among economists polled by Briefing.com, but it also marks the best ADP reading in three years.

The ISM Manufacturing Index for November eased to 56.6 after a reading of 56.9 in the prior month, but that was still in stride with the expected reading of 56.5.

Construction spending in October increased 0.7%, just as it did the month before. The consensus among economists polled by Briefing.com called for a 0.5% decline.

Nonfarm productivity for the third quarter increased 2.3%, which is up from the 1.9% increase recorded in the preliminary reading, but still not quite as strong as the 2.4% increase that had been widely expected.

No real response was made to the Fed's latest Beige Book since it was without surprise. It indicates that the economy continued to improve, on balance, that lending activity is stable, and that credit quality has been steady to improving.

Advancing Sectors: Energy (+2.9%), Materials (+2.8%), Industrials (+2.6%), Tech (+2.2%), Consumer Discretionary (+2.1%), Financials (+2.1%), Health Care (+1.9%), Consumer Staples (+1.6%), Telecom (+1.5%), Utilities (+1.1%)
Declining Sectors: (None)DJ30 +249.76 NASDAQ +51.20 NQ100 +2.2% R2K +2.2% SP400 +2.1% SP500 +25.52 NASDAQ Adv/Vol/Dec 1926/2.11 bln/751 NYSE Adv/Vol/Dec 2353/1.11 bln/682

3:30 pm : Commodities finished largely higher today, led by a 4.8% surge in grains. The lone declining sector was livestock, which shed 0.01%. March wheat gained 7.2% to settle at $7.40 per bushel.

Energy added 3.4% to the rally, largely on a 5% gain in Jan RBOB gasoline. Jan crude oil finished up 3.1% to $86.75 per barrel, helped by weakness in the dollar and the surge in equities. It finished just shy of its session highs at $86.95 -its best levels since Nov 12. Jan natural gas finished up 2.3% to $4.27 per MMBtu.

Precious metals finished higher by 0.5%, after gold and silver gave back most of their overnight gains. Feb gold finished higher by 0.3% to $1393.00 per ounce, while March silver ended up 0.8% to $28.41 per ounce. DJ30 +256.45 NASDAQ +53.45 SP500 +25.59 NASDAQ Adv/Vol/Dec 1896/1.7 bln/758 NYSE Adv/Vol/Dec 2387/782.5 mln/620

3:00 pm : With 97% of its components in positive territory, the stock market has gradually worked its way upward to fractionally extend its session high. The S&P 500 is now on pace for its best single-session since early September.

What's more, conviction has been strong, too. That has made for robust share volume.

With stocks in such strong shape, Treasuries have been trounced. In turn, the benchmark 10-year Note is down more than a point and the 30-year Bond is down more than two points. Their yields stand at 2.97% and 4.24%, respectively. DJ30 +257.55 NASDAQ +54.51 SP500 +26.23 NASDAQ Adv/Vol/Dec 1901/1.58 bln/776 NYSE Adv/Vol/Dec 2377/727 mln/622

2:30 pm : Ford (F 16.45, +0.51) reported earlier today that November sales increased 24% year over year. Year-to-date sales are up 21% and the company stated that it remains on track to gain market share for the second straight year, something not achieved since 1993.

Elsewhere in the automotive space, Chrysler Group reported that its November U.S. sales increased 17% year over year. Toyota Motor (TM 79.67, +1.98) reported that its U.S. November sales decreased 7.3% year over year while Hyundai Motor America saw November sales surge 45% from the prior year and Nissan Motor (NSANY 19.49, +0.73) registered a North America November sales increase of 26.8%. DJ30 +255.43 NASDAQ +54.41 SP500 +25.46 NASDAQ Adv/Vol/Dec 1905/1.46 bln/735 NYSE Adv/Vol/Dec 2383/669 mln/593

2:00 pm : The latest Fed Beige Book has been released. It indicates that the economy continued to improve, on balance, from early October to mid-November. Further, manufacturing activity continued to expand in almost all districts, although the ISM Manufacturing Index eased lower in November from October. The Beige Book also indicated that lending activity is stable and that credit quality has been steady to improving.

Market participants haven't made much of a reaction to the Beige Book's release. That has helped keep stocks at their session highs. DJ30 +248.70 NASDAQ +53.93 SP500 +24.88 NASDAQ Adv/Vol/Dec 1892/1.36 bln/733 NYSE Adv/Vol/Dec 2401/620 mln/567

1:30 pm : In contrast with its earlier report, CNBC is now saying that the U.S. is not discussing a larger contribution to the IMF for use in establishing a European rescue fund. Stocks haven't shown much of a reaction to that news, though.DJ30 +241.28 NASDAQ +53.65 SP500 +24.62 NASDAQ Adv/Vol/Dec 1918/1.27 bln/700 NYSE Adv/Vol/Dec 2413/582 mln/546

1:05 pm : The stock market is up more than 2% today. Its surge comes as sentiment among participants improves and the risk trade returns.

Stocks fell in five of the previous six sessions, but buyers returned to the fold this morning full of conviction. Support grew overnight as Europe's major bourses bounced on the back of a couple of solid manufacturing reports from both that region and China, along with supportive comments and hints of increased bond purchases by European Central Bank President Trichet.

Trichet's comments were later supported by the European Commissioner for Economic and Financial Affairs. Additionally, CNBC reported that an official commented that the U.S. is ready to back a larger European stability fund via the IMF.

Word of further support for the eurozone helped drive down the dollar and spur the euro sharply higher. The euro has since eased back a bit, but it is still up 1.1% against the greenback.

The dollar's drop to a session low helped lift the S&P 500 off of the 1200 line, but it has not yet been able to extend its move through resistance in the 1206 area. Still, gains remains robust as all 10 of the major sectors trade with gains that range from 1% (utilities) to 3% (energy).

While solid domestic data has done nothing for the dollar, it has helped support the positive tone to this session's trade. Among today's releases, the November ADP Employment Change reading exceeded expectations by showing that private payrolls expanded by 93,000.

That makes for the best reading in three years. The ISM Manufacturing Index for November came in at 56.6, which is down slightly from the prior month yet on par with what had been expected.

October construction spending made a surprising 0.7% increase.

As an aside, no real reaction was made to the Fed's release of the names of recipients of the $3.3 trillion of aid that was issued during the credit crisis. The Fed will release its latest Beige Book at 2:00 PM ET. DJ30 +250.70 NASDAQ +57.01 SP500 +25.62 NASDAQ Adv/Vol/Dec 1947/1.16 bln/648 NYSE Adv/Vol/Dec 2426/525 mln/526

12:30 pm : Each of the major equity averages has eased off of its session high, but all three are still up more than 2%.

Energy stocks are making the most of this session's advance. More specifically, the sector has sprinted ahead to a 3.0% gain. It has helped that oil prices have run up to a 2.6% gain at $86.30 per barrel. DJ30 +240.71 NASDAQ +56.35 SP500 +25.02 NASDAQ Adv/Vol/Dec 1962/1.06 bln/611 NYSE Adv/Vol/Dec 2438/485 mln/492

12:00 pm : Each of the three major equity averages had spent the past hour stuck in a tight trading range, but a sudden barrage of buying has taken stocks up to their best levels of the day. The bounce comes as the dollar drops to a fresh session low, where it now trades with a 0.9% loss against a basket of competing currencies.

Most of the dollar's downturn is due to increased support for the euro, which has sprinted up to a 1.3% gain against the greenback so that it now trades at $1.315. The move has more than offset the euro's drop in the prior session, when it set a two-month low. DJ30 +244.65 NASDAQ +58.35 SP500 +26.31 NASDAQ Adv/Vol/Dec 1972/938 mln/589 NYSE Adv/Vol/Dec 2444/425 mln/461

11:30 am : Shares of automaker General Motors (GM 34.60, +0.40) posted its first monthly sales report since its recent initial public offering. The company said sales for November were up 21% year-over-year. The report has been followed by a conference call, which remains ongoing. So far, company officials stated that the consumer outlook is slightly more positive from the prior month and demand remains pent up, even though many people are still cautious about replacing vehicles. The company's 2010 outllook is unchanged in that it continues to project unit sales that range from about 11.5 million to 12.0 million.DJ30 +192.16 NASDAQ +50.22 SP500 +20.26 NASDAQ Adv/Vol/Dec 1928/780 mln/581 NYSE Adv/Vol/Dec 2393/365 mln/477

11:00 am : This session's surge has sent the Volatility Index (VIX) down more than 11% so that it is back near its 50-day moving average. Selling during the past two sessions had the VIX near two-month highs.

With stocks up sharply and volatility cooled, Treasuries have been distinctly out of favor. As such, the benchmark 10-year Note is down a full point so that its yield is up to 2.91%. Earlier the Note's yield had been as high as 2.95%, which put it near three-month highs. DJ30 +198.63 NASDAQ +50.26 SP500 +20.61 NASDAQ Adv/Vol/Dec 1922/660 mln/543 NYSE Adv/Vol/Dec 2424/314 mln/420

10:30 am : Weakness in the dollar index this morning is providing price support to most commodities. In the CRB Index, 18 out of its basket of 19 commodities are trading higher. Cocoa is the only commodity lower in the index.

January crude oil has been on a steady uptrend and in positive territory all session, hitting today's session highs of $85.95 per barrel right near the open of pit trading. Ahead of inventory data, it's trading just below that level. However, following today's inventory data, which showed a build of 1066K versus consensus which called for a draw of 1150K, crude saw little reaction and is currently 1.7% higher at $85.52 per barrel.

January natural gas has also been in positive territory all session. It lost some steam in recent trade, however, and is currently 0.7% higher at $4.21 per MMBtu.

Precious metals have pulled back in the last couple of hours. February gold is currently slightly above the unchanged line at $1387.20 per ounce. March silver is still in positive territory, now at $ 28.39 per ounce, up 0.6%.DJ30 +185.69 NASDAQ +44.43 SP500 +18.92 NASDAQ Adv/Vol/Dec 1920/501.3 mln/498 NYSE Adv/Vol/Dec 2441/243.5 mln/384

10:05 am : The S&P 500 successfully pushed through the 1200 line after initially pausing at that point. It has since eased back a couple of points since failing to extend the move beyond the 1202 point.

The ISM Manufacturing Index for November was just released. It came in at 56.6, which is down slightly from the 56.9 that was posted in the prior month, and on par with the expected reading of 56.5.

October construction spending numbers were also just posted. Spending increased 0.7% for the second straight month. It had actually been expected to decline by 0.5%. DJ30 +204.88 NASDAQ +49.43 SP500 +20.20 NASDAQ Adv/Vol/Dec 1910/342 mln/429 NYSE Adv/Vol/Dec 2527/168 mln/262

09:45 am : Strong buying at the open put the S&P 500 on a torried clip toward the 1200 line, but resistance at that point has slowed momentum. Nonetheless, strength remains broad as all 10 major sectors sport robust gains -- eight of them are up in excess of 1%.

Industrial stocks are this morning's best performers; collectively they are up 2.3%. United Tech (UTX 77.60, +2.33) is a leader in that group. Its gap up has put it in position to challenge its eight-month high.

Traditionally defensive-oriented consumer staples stocks and utilities stocks are relative laggards. The two sectors are both up 0.8%, but that is still only half of what the broader market has already achieved. DJ30 +198.65 NASDAQ +47.95 SP500 +19.38 NASDAQ Adv/Vol/Dec 1919/210 mln/348 NYSE Adv/Vol/Dec 2537/120 mln/210

09:15 am : [BRIEFING.COM] S&P futures vs fair value: +16.60. Nasdaq futures vs fair value: +30.50. A sharply higher start to trade on Wednesday is expected to follow the strong bid that has bolstered stock futures. The buying effort comes on the back of big gains by Europe's major bourses, which have benefited from supportive comments and hints of increased bond purchases by European Central Bank President Trichet, and a couple of solid manufacturing reports from the region and China. So far, U.S. data has been limited, but pleasing. Final readings on third quarter productivity provided little surprise, but the November ADP Employment Change reading exceeded expectations by coming in as the best reading in three years. Still to come, though, are ISM Manufacturing data and construction spending numbers (10:00 AM ET) and the Fed's latest Beige Book (2:00 PM ET).

09:00 am : [BRIEFING.COM] S&P futures vs fair value: +16.40. Nasdaq futures vs fair value: +29.80. Gains in Europe continue to compound. As such, Germany's DAX is now up 2.2% with all 30 of its components in higher ground. For the second straight session automakers BMW and Volkswagen are relative leaders. The strong push follows news that retail sales in Germany increased 2.3% in October after a 1.8% decline in September. However, the November PMI Manufacturing reading came in at 58.1, down from 58.9 in October. PMI Manufacturing data from the United Kingdom was more impressive as it improved to 58.0 in November from 55.4 in October. Britain's FTSE has responded by staging a 2.0% gain with its advancers outnumbering its declining issues by 9-to-1. Rio Tinto (RIO) and BHP Billiton (BHP) are out in front. Meanwhile, France's CAC has climbed to a 1.4% gain. Sanofi-Aventis (SNY) and Societe Generale are atop the list of gainers, which have a 7-to-1 advantage over decliners. The short list of laggards features Carrefour, which has displayed considerable weakness this session. In eurozone data, the November Manufacturing PMI was revised slightly lower to 55.3 from 55.5. Also of note, comments from ECB President Jean-Claude Trichet indicated that he did not think financial stability in the eurozone could be called into question and increased bond purchases were indicated. That vote of confidence has helped the euro rally to a 1.0% gain against the greenback.

In Asia, Japan's Nikkei put together a 0.5% gain. Automakers Honda Motor (HMC) and Toyota Motor (TM) provided leadership, though November vehicle sales reportedly fell 31.0%, which is worse than the 26.7% decline for the same period one year ago. Mainland China's Shanghai Composite closed 0.1% higher after November PMI Manufacturing came in at 55.2 after a reading of 54.7 in October. Industrial & Commercial Bank was a primary leader, though its strength was somewhat offset by weakness in energy giants PetroChina (PTR) and China Petroleum (SNP). Industrial & Commercial Bank was actually a lagging issue on Hong Kong's Hang Seng, which still managed to put together a 1.1% gain. Hutchison Whampoa surged more than 4% to provide leadership. Its effort was complemented by HSBC (HBC).

08:30 am : [BRIEFING.COM] S&P futures vs fair value: +15.00. Nasdaq futures vs fair value: +28.30. Stock futures have stretched to fractionally improved morning highs in the wake of the latest round of data. Released at 8:15 AM ET, the latest ADP Employment Change data indicated that private payrolls expanded by 93,000 in November and by an upwardly revised 82,000 in October. Not only is the latest tally much larger than the 58,000 additions that had been expected, on average, among economists polled by Briefing.com, but it also marks the best ADP reading in three years. Separately, nonfarm productivity for the third quarter increased 2.3%, which is up from the 1.9% increase in the prior reading but not quite as strong as the 2.4% increase that had been widely expected. Unit labor costs for the third quarter decreased 0.1%, unchanged from the prior reading. They had been expected to decrease 0.5%.

08:00 am : [BRIEFING.COM] S&P futures vs fair value: +13.40. Nasdaq futures vs fair value: +22.00. The stock market fell yesterday for the fifth time in six sessions, but stocks have garnered considerable support this morning. The bid comes amid a 0.6% drop by the dollar and big gains by Europe's major bourses, which are all up in excess of 1%. Those gains follow strong PMI readings out of China and the United Kingdom, though data for Germany and the broader eurozone was less impressive. A heavy dose of domestic data is also slated for release today. The ADP Employment Change for November is due at 8:15 AM ET, followed by the final third quarter productivity readings at 8:30 AM ET, then ISM data for November and construction spending numbers for October at 10:00 AM ET. The Fed's latest Beige Book will be released at 2:00 PM ET. Monthly vehicle sales data will be released intermittently through the day.

06:30 am : S&P futures vs fair value: +12.20. Nasdaq futures vs fair value: +19.50.

06:30 am : Nikkei...9988.05...+51.00...+0.50%. Hang Seng...23249.80...+241.80...+1.10%.

06:30 am : FTSE...5605.91...+78.00...+1.40%. DAX...6805.72...+118.10...+1.80%.

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/bar analysis)
Price Action Only Trading (no indicators)
Image@ http://twitter.com/wrbtrader and http://stocktwits.com/wrbtrader

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