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 10:06 am

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: December 8th Wednesday 2010 Emini ES ($ES_F) points +13.50
PostPosted: Thu Dec 09, 2010 3:58 pm 
Offline
Site Admin

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

Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Only Trading (no indicators)

Attachment:
120810_wrbtrader_PnL_Blotter_Profit.png
120810_wrbtrader_PnL_Blotter_Profit.png [ 72.43 KiB | Viewed 377 times ]

click on the above image to view normal size

Quote:
A better trading day in comparison to yesterday. Today I'm starting to get comfortable with trading the S&P 500 Emini ES after switching from the Emini TF. Basically I see now when the volatility arrives and departs Emini ES to prevent trading when volatility is contracting. In addition, I have a better understanding of the intermarket analysis involving Emini ES along with using SPY exchange traded fund to spot trade signals for trading in the Emini ES. Best trades of the day were the 3rd and 6th trade as shown in the #FuturesTrades chat log.

Trade Performance for Today: +13.50 points or $675 dollars in the S&P 500 Emini ES ($ES_F) Futures.
1 tick or 0.25 = $12.50 dollars and to find out more contract information about the S&P 500 Emini ES...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=698

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

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

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 - Banks Boost Stocks, But Gains Are Modest
Attachment:
chart_ws_index_dow.top[5].png
chart_ws_index_dow.top[5].png [ 21.7 KiB | Viewed 304 times ]

click on the above image to view normal size

By Ben Rooney, staff reporter
December 8, 2010: 5:05 PM ET

NEW YORK (CNNMoney.com) -- Stocks drifted higher Wednesday as a rebound in bank shares offset weakness in commodities and concerns about rising interest rates in the Treasury market.

The Dow Jones industrial average (INDU) rose 13 points, or 0.1%, to close at 11,372. The S&P 500 (SPX) added 4 points, or 0.4%, to 1,228. The tech-heavy Nasdaq (COMP) rose 11 points, or 0.4%, to 2,609.

Bank of America (BAC, Fortune 500) and JPMorgan (JPM, Fortune 500) led gainers in the Dow, while McDonald's (MCD, Fortune 500) and Boeing (BA, Fortune 500) dragged on the blue-chip index. Technology shares Intel (INTC, Fortune 500) and IBM (IBM, Fortune 500) were also strong.

Shares of Chevron (CVX, Fortune 500) and Alcoa (AA, Fortune 500) were under pressure as prices for oil and precious metals fell. The weakness in commodities came as the dollar firmed against the euro, making assets priced in the U.S. currency less attractive to some investors.

"The dollar is one of the most important catalysts here," said Quincy Krosby, market strategist with Prudential Financial. "The market is being hit with a number of different factors, and we're mostly focused on how they affect the dollar."

Investors were also digesting the deal struck Monday between President Obama and Republican lawmakers to extend tax cuts for those making more than $250,000 a year.

Obama touted the compromise, which would also extend unemployment benefits and create a payroll tax holiday for workers, as a boon for middle-class Americans. But at a news conference Tuesday, the president said he would push to have the tax cuts eliminated for high earners after the two-year extension is over.

* Yes Virginia, there is a Santa Claus rally

Art Hogan, chief market analyst at Jefferies & Co., said the deal is a positive for the economy and the financial markets. But he added that investors are awaiting final details of the plan, which is expected to face some resistance from Democrats.

"This is something that will have longer-term benefits, and will gradually work its way into the marketplace," he said.

Meanwhile, investors were also grappling with an ongoing sell-off in the Treasury market, which has pushed the benchmark 10-year yield near a 6-month high.

Some market participants see the selling as a sign that investors are more bullish about the economic outlook, and are gravitating toward riskier assets. Others argue that rising yields will make it harder for the U.S. government to borrow money, fuel inflation and hurt the economic recovery.

"The market still needs to sort that out," said Krosby.

Stocks ended mixed Tuesday after optimism over the deal on tax cuts faded and Treasury yields spiked.

* Video - Wave goodbye to cheap crude oil

Companies: Shares of AIG (AIG, Fortune 500) were halted after the insurance giant said it had signed an agreement with the Federal Reserve and other creditors to repay loans it received during the financial crisis.

The deal, which involves swapping loans for common shares, would result in the Treasury owning 92% of the company. That has raised speculation that the Treasury could sell a large block of AIG shares sometime next year.

AIG said in a statement that the agreement "marks an important step forward in our progress toward completely repaying taxpayers."

Shares of two Chinese technology companies, Youku.com and Dangdang.com, were sharply higher after both companies made their debut in the U.S. market.

Youku.com (YOKU), an Internet video provider similar to Youtube.com, jumped 167% to $27.89. The Beijing-based company priced its offering of more than 15 million U.S.-listed shares at $12.80 each.

Shares of Dangdang.com (DANG) surged 86% to $28.10, after the consumer e-commerce company priced its IPO at $16 per U.S. depository share.

* Businesses racing against the tax clock

Costco (COST, Fortune 500) reported an increase in both sales and profit for its fiscal first quarter, which beat estimates. Net income rose 17% to $312 million, compared to $266 million in the year prior. Earnings per share increased 18% to 71 cents per share.

Fortune Brands (FO, Fortune 500), maker of Jim Beam whiskey, Titleist golf clubs and home security systems, said it will split into three separate businesses -- retaining its liquor operations, spinning off its home products and security unit and selling its golf properties.
0:00 /:52Jim Beam goes solo

World markets: European stocks ended the day mixed. Britain's FTSE 100 dipped 0.2% and the DAX in Germany fell 0.4%, while France's CAC 40 added 0.6%.

Asian markets also closed mixed. The Shanghai Composite lost almost 1% and the Hang Seng in Hong Kong dropped 1.4%, while Japan's Nikkei gained 0.9%.

Currencies and commodities: The dollar gained 0.2% against the euro and 0.6% the Japanese yen, but it lost 0.1% against the British pound.

Oil for January delivery fell 41 cents to settle at $88.28 a barrel.

Gold futures for February delivery fell $25.80 to end at $1,383.20 an ounce.

Bonds: The price on the benchmark 10-year U.S. Treasury fell, pushing the yield up to 3.24% from 3.13% late Tuesday. The yield was the highest since late June.

The U.S. sold $21 billion worth of re-opened 10 year notes Wednesday, after auctioning $32 billion in 3-year notes Tuesday. An offering of $13 billion in re-opened 30-year bonds is scheduled for Thursday.

Image

Image Yahoo! Finance - Market Update

4:20 pm : The stock market lacked direction during the first half of the trading day, but the financial sector ultimately helped lead the broader market to a modest gain.

Stocks started the day in positive territory, but they retreated into the red as the dollar fought off selling efforts to secure support at the neutral line. The dollar oscillated thereafter and finished the day with fractional gain.

Buyers were slow to respond to the stock market's morning slide, but their gradual move back into the market helped stocks muster gains. Financials attracted the most support. The sector swung to a 1.8% gain. Banks were some of the best performers in the space as the KBW Bank Index climbed 2.9%. Banks have had a strong start to December; the KBW is already up 10.0% in the first six sessions of this month. For comparison, the S&P 500 is up 4.0% in that same time span.

Two IPO's out of China accounted for some of today's best individual performances. Dangdang (DANG 29.91, +13.91), labeled by many as China's Amazon.com (AMZN 176.29, -0.48), almost doubled in price. Youku.com (YOKU 33.44, +20.64), which is conceptually similar to YouTube, more than doubled in price.

Home Depot (HD 34.08, +0.53) had a strong session of its own, but it couldn't keep the Dow from trailing its counterparts. The stock challenged six-month highs after it issued an improved outlook.

Fellow Dow component McDonald's (MCD 78.74, -1.60) reported this morning global comparable sales growth of 4.8% for November, but that could not help the stock from extending its record high. MCD was the worst performing stock in the Dow.

Treasury prices continued to turn lower, such that the yield on the 10-year Note hit a six-month high of almost 3.33% before it eased back to 3.24% around the close of trade. A $21 billion reopening of 10-year Notes attracted a yield 3.34% and produced a bid-to-cover ratio of 2.92. Dollar demand was the weakest in a year; it came in at $61.3 billion.

The sell-off in precious metals continued as silver prices plummeted 5.1% to settle at $28.25 per ounce and gold dropped 1.9% to $1383.20 per ounce. In contrast, natural gas prices climbed 4.5% to $4.60 per MMBtu, a four-month closing high. Weekly natural gas inventory data are due tomorrow morning. Today's larger-than-expected draw of 3.82 million barrels of crude oil initially pressured oil prices, but the commodity pared its loss to settle the day down 0.5% at $88.28 per barrel.

Advancing Sectors: Financials (+1.8%), Tech (+0.9%), Consumer Staples (+0.3%), Health Care (+0.1%)
Declining Sectors: Materials (-0.9%), Utilities (-0.5%), Energy (-0.3%), Industrials (-0.3%), Consumer Discretionary (-0.1%)
Unchanged: TelecomDJ30 +13.32 NASDAQ +10.67 NQ100 +0.5% R2K -0.1% SP400 -0.1% SP500 +4.53 NASDAQ Adv/Vol/Dec 1316/1.77 bln/1321 NYSE Adv/Vol/Dec 1160/1.11 bln/1844

3:30 pm : Commodities finished higher today, with precious metals the (-3%) the sole declining sector. Industrials (+1.3%) and grains (+1%) led the way higher. Orange juice futures had another volatile session, spurred once again by concerns about freezing in Florida, after they gained 3.1% to end at $1.668 per pound.

March silver dropped 5.1% to settle at $28.25 per ounce, while Feb gold ended off 1.9% to $1383.20 per ounce. Both metals were helped lower by the continued rally in the dollar, as well as some profit taking following yesterday's new-all time highs for gold and 30-yr highs for silver. Silver futures shed almost 9% from yesterday's 30-yr high to today's close.

Jan natural gas ended up 4.5% to $4.60 per MMBtu. It spent the afternoon consolidating around the $4.55 area before ticking to its best levels heading into the close at $4.61 --a fresh 4-month high. Cold temperature across the country one again helped prices move higher. Jan crude oil finished lower by 0.5% to $88.28 per barrel. DJ30 -0.15 NASDAQ +8.02 SP500 +2.65 NASDAQ Adv/Vol/Dec 1343/1.4 bln/1282 NYSE Adv/Vol/Dec 1155/709.1 mln/1825

3:00 pm : Stocks have stretched to afternoon highs as they head into the final hour of the session. With only an hour remaining before the close, market participants begin to look for potential trading catalysts for the day ahead.

Tomorrow's economic calendar is rather light. It includes only the latest weekly jobless claims tally and monthly wholesale inventory data.

As for earnings announcements, there are no market movers scheduled to report, but Brown Forman (BF.B 68.60, +0.61), Ciena (CIEN 15.85, +0.11), and Lululemon (LULU 55.40, +0.47) are slated to post their latest numbers in the morning. DJ30 +2.91 NASDAQ +9.41 SP500 +3.19 NASDAQ Adv/Vol/Dec 1365/1.33 bln/1246 NYSE Adv/Vol/Dec 1200/655 mln/1769

2:30 pm : Though the broader equity market continues to plod along with a narrow gain, financials continue to climb. As a group, the S&P 500 Financial Sector is now up 1.5% while the Financial Select SPDR (XLF 15.38, +0.20) is up 1.3%. The XLF recently set a new session high above Tuesday's peak. Short-term congestive resistance awaits it in the area of $15.41 to $15.49 zone.

Outside of financials, Dangdang (DANG 29.98, +13.98) has almost doubled in its debut session. The company is being labeled by many as China's Amazon.com. DJ30 +8.67 NASDAQ +10.04 SP500 +3.56 NASDAQ Adv/Vol/Dec 1377/1.22 bln/1220 NYSE Adv/Vol/Dec 1224/605 mln/1730

2:00 pm : Treasury yields have eased from their highest levels of the session following the $21 billion 10-yr reopening. The auction drew 3.340%, and produced a bid/cover of 2.92x despite its weakest dollar demand in a year. The 10-yr yield saw a session high of 3.326%, its highest since early June, before post-auction buying dropped it to 3.263%. Since the Fed announced its second round of quantitative easing the 10-yr yield has risen more than 70 basis points off its November 3rd closing yield of 2.489%. Immediately following the auction, the 2-10-yr spread steepened to 270 before tightening to 265. The recent steepening of the belly of the curve has pushed the 2-10-yr spread to less than 30 basis points below its all-time steepest level of 293.9.DJ30 +6.70 NASDAQ +8.69 SP500 +2.77 NASDAQ Adv/Vol/Dec 1373/1.12 bln/1204 NYSE Adv/Vol/Dec 1214/562.7 mln/1726

1:30 pm : The dollar has pulled back a bit in recent trade. It is now up just 0.1%, which is less than half of what it had sported about 30 minutes ago. The dip helped pull the stock market up from the neutral line, but it has failed to attract the necessary support to make any kind of meaningful advance.

While the broader market continues to seek direction, shares of airline carriers are under considerable pressure. As such, the Amex Airline Index is down 1.6%. Airline stocks have had a weak December, so far, in that the Airline Index is down 2.6% month-to-date and the S&P 500 is up 3.8% month-to-date. Airline stocks have fared much better for the year, though; the Amex Airline Index is up 40% in 2010 and the S&P 500 is up less than 10% for the year. DJ30 -5.79 NASDAQ +4.40 SP500 +1.19 NASDAQ Adv/Vol/Dec 1269/1.04 bln/1293 NYSE Adv/Vol/Dec 1129/522 mln/1810

1:05 pm : The major equity averages are mixed at midday as stocks struggle to find direction in the face of a stronger dollar.

Stocks got a nice bid at the open as the dollar turned lower. However, sellers applied pressure as the opening advance stalled and the dollar secured support at the neutral line. The dollar has since made its way to a 0.4% gain.

Renewed strength in the dollar has challenged the broader market, but financials have been able to attract plenty of their own support. The sector is currently up 1.1% as both insurers and banking issues drive higher.

In contrast, materials stocks have fallen under stiff pressure. The sector is off by 1.2%. Part of its weakness comes in response to a concerted push against commodities, especially precious metals like gold and silver. Gold was last quoted with a 2.0% loss at $1381 per ounce and silver was last quoted with a 4.8% loss at $28.33 per ounce.

Corporate news has had little influence on overall trade. McDonald's (MCD 78.35, -1.99) reported global comparable sales growth of 4.8% for November, but that hasn't stopped its stock from sliding off of the record high that it set in the prior session.

Fellow Dow component Home Depot (HD 34.08, +0.53) issued an improved outlook. That has helped its shares bring six-month highs into play.

Treasuries continue to get trounced. In fact, the price of the benchmark 10-year Note has fallen more than two points since Monday. That has the Note's yield at 3.30%, which was last seen about six months ago. Results of an auction of 10-year Notes at 1:00 PM ET are still being digested. DJ30 -3.18 NASDAQ +5.71 SP500 +1.52 NASDAQ Adv/Vol/Dec 1300/977 mln/1233 NYSE Adv/Vol/Dec 1157/491 mln/1751

12:30 pm : Financials have sprinted ahead to a 1.3% gain, which puts the sector at a session high while the broader market has mustered only a modest gain.

Insurers Lincoln National (LNC 27.24, +1.90) and MetLife (MET 42.90, +1.73) are primary leaders among financial plays. Not to be outdone, regional banks are broadly positive, such that the SPDR regional bank ETF (KRE 24.68, +0.51) is up more than 2% to test its one-month high. As an aside, banking issue U.S. Bancorp (USB 24.85, +0.48) stated this morning at the Goldman Sachs Financial Service Conference that it will continue to be an acquirer and that dividends and share buybacks will start again very shortly. DJ30 -1.36 NASDAQ +7.11 SP500 +1.82 NASDAQ Adv/Vol/Dec 1342/873 mln/1153 NYSE Adv/Vol/Dec 1208/441 mln/1683

12:00 pm : Just yesterday shares of McDonald's (MCD 78.70, -1.64) set a new record high, but the stock has pulled back this session to trade as a laggard. The company reported this morning global comparable sales growth of 4.8% for November. That was driven by 4.9% growth in both the U.S and Europe, along with 2.4% growth in the Asia-Pacific, Middle East and Africa region. McDonalds added that currency translation is expected to negatively impact fourth quarter earnings by $0.01 to $0.02 per share.DJ30 +5.26 NASDAQ +8.61 SP500 +2.24 NASDAQ Adv/Vol/Dec 1360/790 mln/1121 NYSE Adv/Vol/Dec 1267/400 mln/1613

11:30 am : The S&P 500 has made its way back to the neutral line, where it has paused to take a bit of a breather. Meanwhile, the Nasdaq Composite has extended its move higher into positive territory, but the Dow remains mired in the red.

Though action among stocks has been somewhat lackluster, commodities continue to see sharp swings. Specific to the commodity complex, gold prices are down 2.0% to $1381 per ounce and silver is down 5.0% to $28.27 per ounce. Oil prices are now down 1.0% to $87.80 per barrel while natural gas prices have spiked 3.8% to $4.56 per MMBtu. DJ30 -12.53 NASDAQ +5.05 SP500 -0.08 NASDAQ Adv/Vol/Dec 1287/686 mln/1156 NYSE Adv/Vol/Dec 1147/350 mln/1700

11:00 am : Stocks extended their morning retreat into the red, but support has helped them start to rebound. The major equity averages are still mixed, however.

Financials continue to outperform. The sector is up 0.6% while the overall S&P 500 trades with a fractional loss. Banks continue to underpin the sector's strength. Bank of America (BAC 11.76, +0.19) has been a primary leader in its space.

In contrast, materials stocks are under the most pressure. The sector has fallen to a 1.2% loss as steel stocks like U.S. Steel (X 52.05, -0.91) retreat. DJ30 -17.60 NASDAQ +0.39 SP500 -1.54 NASDAQ Adv/Vol/Dec 1195/565 mln/1209 NYSE Adv/Vol/Dec 1021/300 mln/1801

10:30 am : Strength in the dollar index for a third consecutive day is pressuring commodities this morning.

Precious metals are the worst performers in the CRB Commodity Index, while natural gas in the best performer. The rest of the energy complex is in negative territory.

January crude oil has spent the overnight session in the red. About an hour before pit trading began, it rallied into positive territory, but couldn't hold its gains and was modestly lower just ahead of today's inventory data. Following the data, which showed a draw of 3.819 million barrels versus consensus that called for a draw of 1.4 million barrels, crude ticked lower and is now 0.8% lower at $87.95 per barrel.

January natural gas began trending higher overnight, slowly moving into positive territory. Along with crude, it began to rally approx. an hour before the open of pit trading, pushing to new session highs of $4.58 per MMBtu. The energy component is currently just below that level, now at $4.54 per MMBtu, up 3.4%.

Precious metals sold off in recent activity as February gold fell to fresh lows of $1372.10 per ounce and March silver fell to 28.12 per ounce. Gold is currently 2.2% lower at $1376.30 per ounce, while silver is down 5% at $28.32 per ounce.DJ30 -14.99 NASDAQ +0.25 SP500 -1.58 NASDAQ Adv/Vol/Dec 1131/368.3 mln/1187 NYSE Adv/Vol/Dec 1039/209.0 mln/1711

10:00 am : The stock market's opening advance lost momentum as the S&P 500 failed to push past the 1229 line and the dollar secured support at the flat line after it had pared its morning gain. Though that fed a flurry of selling, the stock market remains in positive territory with a slight gain.

Treasuries received some relief shortly before the open, but pressure has since picked back up. The selling effort has sent the yield on the benchmark 10-year Note back up to 3.23%, which is just a couple of basis points shy of its morning high.

Advancing Sectors: Financials (+0.4%), Telecom (+0.4%), Tech (+0.3%), Energy (+0.1%)
Declining Sectors: Materials (-0.4%), Consumer Discretionary (-0.3%), Utilities (-0.2%), Industrials (-0.1%)
Unchanged: Health Care, Consumer StaplesDJ30 +7.45 NASDAQ +5.94 SP500 +2.04 NASDAQ Adv/Vol/Dec 1287/245 mln/982 NYSE Adv/Vol/Dec 1316/150 mln/1354

09:45 am : The stock market has made a nice bounce in the first few minutes of trade. Support is currently broad based, but financials and energy plays are out in front with gains of 0.6%.

Banking issues have been the biggest source of support for the financial sector. Strength in that space has the KBW Bank Index up 1.0%.

As for energy stocks, they are currently led by oil and gas equipment plays, which are up 0.9%. Haliburton (HAL 40.76, +0.38) is a leader as it rebounds from its retreat in the prior session. The company is scheduled to appear at the Capital One Southcoast Energy Conference today. DJ30 +22.40 NASDAQ +12.28 SP500 +4.35 NASDAQ Adv/Vol/Dec 1428/155 mln/764 NYSE Adv/Vol/Dec 1616/108 mln/1007

09:15 am : [BRIEFING.COM] S&P futures vs fair value: +2.00. Nasdaq futures vs fair value: +7.60. Stock futures have worked their way to a modest lead over fair value. In turn, a mildly higher start appears to be in order. The bid comes in conjunction with a dip by the dollar, which is now clinging to a slight gain against a basket of competing currencies. Overnight trade had been rather directionless as investors assessed the prior session's late slide, which saw the S&P 500 finish flat after it had gapped up to a new two-year high. Treasuries have trimmed losses in recent trade, such that the yield on the benchmark 10-year Note is now near 3.19% after it hit a multi-month high of about 3.25% earlier this morning. This week alone the yield on the 10-year Note has swung more than 30 basis points from its low to its high. Such dramatic action could put added focus on the results of an auction of 10-year Notes that are scheduled for release at 1:00 PM ET. In addition to weekly crude oil inventory data at 10:30 AM ET, there is nothing else on today's calendar.

09:05 am : [BRIEFING.COM] S&P futures vs fair value: +1.90. Nasdaq futures vs fair value: +7.10. Stock futures recently poked into positive territory in a move that coincided with a pullback in the dollar, which now trades with a gain of about 0.1% over competing currencies. The dollar's dip has eased pressure against commodities, such that the CRB Commodity Index is now up fractionally after it had been down 0.6% less than an hour ago. However, precious metals continue to grapple with sellers. As such, gold prices are down 1.2% to $1392 per ounce and silver was last quoted with a 3.2% loss at $28.79 per ounce. Crude oil prices are up 0.1% to $88.80 per barrel in the first few minutes of pit trade. Weekly oil inventory data is due at 10:30 AM ET. Natural gas continues to trade out of sync with most of the commodity complex as it sports a 2.4% gain at $4.50 per MMBtu.

08:35 am : [BRIEFING.COM] S&P futures vs fair value: +2.90. Nasdaq futures vs fair value: +8.30. A recent dip by the dollar has helped lift futures for the S&P 500. However, trade remains mixed in Europe, where Germany's DAX is down 0.1% at the moment. Automakers Daimler (DAI), Volkswagen, and BMW have been the heaviest drags while Allianz (AZ) has attempted to provide support. As for data, Germany's trade balance for October came in at 14.2 billion euros, down from 16.8 billion euros in September. Exports for October fell 1.1% after they had climbed 3.0% in September. Meanwhile, imports for October were up 0.3% after a upwardly revised 1.2% decline in September. France's CAC is currently up 0.5%. Axa, Sanofi-Aventis (SNY), BNP Paribas, and Societe Generale have been primary leaders in the move. France's central bank raised its forecast for fourth quarter GDP to 0.6% growth from 0.5% growth. Also, the Business Sentiment reading for November came in at 107, up from 104 in October. Data indicated that France's trade deficit for October totaled 3.43 billion euros, down from a deficit of 4.7 billion euros in September. In Britain, the FTSE is flat. HSBC (HBC) and Rio Tinto (RIO) have hampered action and undermined the leadership of BP Plc (BP) and Standard Charter.

In Asia, Japan's Nikkei advanced 0.9% with help from a weaker yen. Kyocera (KYO) and Honda Motor (HMC) led advancers, which outnumbered decliners by 6-to-1. As for data, machine orders for October fell 1.4% after a 10.3% drop in September. Meanwhile, the trade balance for October totaled 912.9 billion yen, down from 926.9 billion yen in September. Mainland China's Shanghai Composite fell to a 1.0% loss as PetroChina (PTR) and Industrial & Commercial Bank acted as heavy drags and led a list of declining issues that outnumbered advancers by 2-to-1. Reports suggest that there were renewed concerns of tighter monetary policy. Hong Kong's Hang Seng slid to a 1.4% loss. Heavyweights HSBC, CNOOC (CEO), China Mobile, and PetroChina dragged down broader trade.

08:05 am : [BRIEFING.COM] S&P futures vs fair value: -0.30. Nasdaq futures vs fair value: +3.60. The broader market finished flat after it had set a fresh two-year high in the prior session. The unbiased tone continues this morning as stock futures trade near the neutral line. The dollar has extended its rally from yesterday. That has the greenback up 0.4% against a basket of competing currencies. Treasuries continue to get trounced. In turn, the yield on the benchmark 10-year Note is now at 3.24%, which was last seen in June. Results from an auction of 10-year Notes will be released at 1:00 PM ET. The economic calendar for today is empty, but there have been a few noteworthy corporate announcements, including an improved outlook from Dow component Home Depot (HD), an upside earnings surprise from Costco (COST), and narrowed guidance from Texas Instruments (TXN) that remains in-line with the consensus forecast.

06:38 am : S&P futures vs fair value: -2.10. Nasdaq futures vs fair value: +1.30.

06:38 am : Nikkei...10232.33...+91.20...+0.90%. Hang Seng...23092.52...-335.60...-1.40%.

06:38 am : FTSE...5799.47...-9.00...-0.20%. DAX...6982.09...-20.10...-0.30%.

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

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 3 guests


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