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 2:28 pm

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: January 4th Tuesday 2011 Emini ES ($ES_F) points +11.00
PostPosted: Tue Jan 04, 2011 11:45 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 Trading (no technical indicators)

Attachment:
010411_wrbtrader_PnL_Blotter_Loss.png
010411_wrbtrader_PnL_Blotter_Loss.png [ 32.1 KiB | Viewed 277 times ]

click on the above image to view today's trading summary

Quote:
It was a losing trading day (with commissions) even though the profit/loss statement shows $550 because that statement doesn't show the cost of trading (fees) in comparison to my statement at the broker website. Regardless, one mismanage trade in the Emini ES, missed the price action reversal off the intraday lows due to personal appointment and a bad decision to not trade the Russell 2000 Emini ES. Emini ES is a tough trading instrument in comparison to trading the Emini TF futures. However, one of my goals for 2011 is to trade different trading instruments and to take more trades via higher time frames to minimize my chance for overtrading.

Trade Performance for Today: +11.00 points or $550 dollars in the S&P 500 Emini ES ($ES_F) Futures.
S&P 500 Emini ES Futures - 1 tick or 0.25 = $12.50 dollars and there's more contract information @ CMEGroup.
Russell 2000 Emini TF Futures - 1 tick or 0.10 = $10.00 dollars and there's more contract information @ The ICE.

In addition, today's #FuturesTrades trading 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=86&t=721. However, be advised that I'm frequently testing new trade signal methods or new trade management rules (e.g. stop/loss, trailing stops, profit targets, order types, time frames, workstation templates et cetera) after entry of existing profitable trade signal methods whenever market conditions change. Thus, adapting is a critical variable to my consistent profits along with preventing me from becoming complacent in my trading...this helps avoid trading account drawdowns.

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/viewtopic.php?f=5&t=180.

Image Volatility Trading Report (VTR) @ http://www.thestrategylab.com/VolatilityTrading.htm and there's a free trade signal strategy @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=89 so that you can freely test drive one of our trade strategies with support prior to purchasing the Volatility Trading Report (VTR).

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 Bloomberg (Youtube) - U.S. Stocks Decline as Dollar Weighs on Commodities



Image CNNMoney.com - After Rocky Day, Stocks End Mixed
Attachment:
010411_Key_Price_Action_Markets.png
010411_Key_Price_Action_Markets.png [ 191.99 KiB | Viewed 262 times ]

click on the above image to view today's price action of key markets

By Annalyn Censky, staff reporter
January 4, 2011: 4:46 PM ET

NEW YORK (CNNMoney) -- After a tumultuous day, U.S. stocks ended mixed Tuesday, as investors mulled over reports on auto sales, factory orders and the Federal Reserve's December meeting.

Stocks struggled for direction all day. After losing as much as 0.3% mid-day, the Dow Jones industrial average (INDU) ended the session up 20 points, closing at a fresh two-year high of 11,691.

Meanwhile, the S&P 500 (SPX) was down 2 points, or 0.1%; and the Nasdaq (COMP) fell 10 points, or 0.4%.

Throughout the day, investors weighed a better-than-expected factory orders report with concerns that stocks may be overextended, after posting double-digit percentage gains in 2010.

"We've had such a run here in the last four weeks, without any downside relief," said Rich Ilczyszyn, a market strategist with futures-broker Lind Waldock. "It's a normal market reaction, as we go up for a month or so and then we pull back."

Stocks ended 2010 with their best December since 1991, and some traders think they may have gotten a bit ahead of themselves. As a result, stocks were held back Tuesday as some investors tried to reap the rewards of their 2010 bets now -- in case the market falls back in January.

Traders also mulled over the minutes from the Federal Reserve's latest meeting in December, which showed that the central bank's policymakers remain committed to the purchase of $600 billion in U.S. Treasurys as a means of stimulating the economy.

Anticipation of that stimulus policy, referred to as "quantitative easing" or "QE2," had fueled bullish stock market gains in the second half of 2010. Investors had grown concerned about whether the Fed will follow through with the full $600 billion program in 2011.

The minutes alleviated some of those fears.

"Takeaway number one is they're not going to stop QE2 right now," said Doug Roberts, chief investment strategist at Channel Capital Research. "And it looks like from this, they're not as hesitant about QE3 as one might think."

* Stock recovery rally to continue

Stocks are coming off a rally on Monday, when the Dow closed at a fresh two-year high.

Economy: After the opening bell, the Commerce Department reported that November factory orders rose 0.7% in November, following a 0.7% decrease in October. Analysts surveyed by Briefing.com had expected total orders to fall by 0.3% during the month.

Investors also watched as major auto companies release their December sales figures throughout the day. General Motors was the first to report Tuesday morning, saying it ended a challenging 2010 with a bang.

GM's U.S. sales rose 8% in December from a year earlier -- the company's best sales month of the year. GM (GM) shares rose 2.3% after the news.

Ford Motor (F, Fortune 500) shares rose 0.8% after the company reported December sales were up 4% from a year ago.

Analysts surveyed by Briefing.com had expected overall auto sales for December to drop to 3.7 million, from 3.8 million the previous month. The fact that most automakers reported a strong sales month raised hopes for the industry heading into the new year.

Reports on jobless claims, job cuts and manufacturing are on tap later in the week, and the government's closely-watched jobs report is due Friday.

Economists expect the monthly report to show employers boosted payrolls by 135,000 last month, after adding 39,000 jobs in November.

Also on Friday, Federal Reserve Chairman Ben Bernanke is scheduled to testify before the Senate budget panel.

Companies: Motorola's long-awaited split into two separate companies went into effect at the start of trading Tuesday. The company's cell phone business now operates as Motorola Mobility Holdings Inc., under the stock symbol MMI (MMI). Motorola Solutions Inc., a company that makes other telecommunications gear, trades under MSI (MSI).

Motorola Mobility shares debuted at $31.17, and Motorola Solutions shares started at $37.30.

Shares of BP (BP) rose 2.5% after London newspaper the Daily Mail reported Royal Dutch Shell (RDSA) previously considered making a bid for the oil giant during the Gulf oil spill. Royal Dutch Shell shares rose 0.6% in .

Borders Group (BGP) stock fell 12.5%, after the company announced late Monday that its general counsel Thomas Carney and Chief Information Officer D. Scott Laverty both resigned.

World markets: European stocks were mixed, with Britain's FTSE 100 starting 2011 with a bang. The FTSE soared 1.7% in its first trading day of the new year, while the DAX in Germany fell 0.3% and France's CAC 40 rose 0.3%.

Asian markets ended the session higher. The Shanghai Composite jumped 1.6%, the Hang Seng in Hong Kong ticked up 1% and Japan's Nikkei gained 1.7%.

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

Oil for February delivery fell $2.17 to settle at $89.38 a barrel.

* Commodities: The bull that won't die - The Buzz

Gold futures for February delivery pulled back from the previous session's highs, slipping $44.10 to settle at $1,378.80 an ounce.

Bonds: The price on the benchmark 10-year U.S. Treasury fell, pushing the yield up to 3.34%.

Image

Image Yahoo! Finance - Market Update

4:25 pm : Sellers sent stocks from a positive start to a sizable loss by midsession, but their efforts eased in the afternoon so that the major averages ended the day with varied results.

Market participants initially appeared prepared to extend the prior session's advance amid renewed strength among overseas markets, but an absence of leadership made for untenable gains in the early going. Once selling started it quickly gained momentum.

Natural resource plays were picked on the most, for a time. The materials sector was down as much as 1.9% as Mosaic (MOS 75.00, -1.25) slid ahead of its earnings announcement this evening. Meanwhile, the energy sector was down 1.5% at its session low. The two sectors successfully trimmed those losses so that they ended the day down 0.5% and 0.6%, respectively.

As an asset class, small-cap stocks and mid-cap stocks were also hit hard, but they never really recovered. In turn, the Russell 2000 settled the day down 1.6% while the S&P 400 closed with a 1.1% loss.

Telecom stocks traded with relative strength for virtually the entire session. They gained 0.9%, collectively. Motorola shares officially broke into a consumer segment, Motorola Mobility (MMI 33.12, +2.88), and a professional segment, Motorola Solutions (MSI 39.77, +2.46), both of which debuted on the NYSE today. A few analysts gave MMI favorable reviews, but the interest in MSI was more tepid.

Automakers encountered mixed interest. For December, Ford (F 17.38, +0.13) reported that retail sales increased 17% from the prior year. General Motors (GM 37.90, +0.84) said that it saw total December sales climb 16% from the year before. Meanwhile, Toyota Motor (TM 79.86, +0.43) reported that its sales for December actually decreased by 2% year over year. Honda Motor (HMC 39.60, -0.42) said that its vehicle sales for December saw an increase of almost 26%. Nissan Motor (NSANY 19.76, +0.61) reported a 28% increase in U.S. sales during December.

Participants made no real reaction to news that factory orders for November increased 0.7% when a 0.3% decline had been widely expected to follow a 0.7% slide in the prior month.

Minutes from the most recent FOMC meeting were also shrugged off. The minutes indicate that some committee members are still concerned about downside risk, especially as it relates to housing, but that economic activity continues to increase at a moderate rate. Still, voting members view the progress toward fulfilling the Fed's dual mandate as disappointingly slow.

The dollar made a nice move out of the red for a 0.3% gain. This is the second straight day that the greenback has advanced against a collection of competing currencies following seven straight sessions of losses.

Advancing Sectors: Telecom (+0.9%), Utilities (+0.5%), Health Care (+0.4%), Tech (+0.1%)
Declining Sectors: Energy (-0.6%), Consumer Discretionary (-0.6%), Materials (-0.5%), Consumer Staples (-0.4%), Financials (-0.2%), Industrials (-0.1%)DJ30 +20.43 NASDAQ -10.27 NQ100 -0.1% R2K -1.6% SP400 -1.1% SP500 -1.67 NASDAQ Adv/Vol/Dec 844/2.02 bln/1805 NYSE Adv/Vol/Dec 1103/1.09 bln/1889

3:30 pm : Commodites, save for industrials, finished largely lower on the day. Precious metals shed 3.6%, followed by a 2.7% decline in soft commodities and a 1.6% sell off in grains.

March silver shed 5.1% to close at $29.51 per ounce, while Feb gold dropped 3.2% to end at $1378.80 per ounce. Profit taking from the continued rally in commodities, coupled with optimism about the recovering economy, weighed on both metals throughout the day.

Feb crude oil ended off 2.4% to $89.38 per barrel, as profit taking also took its toll on crude prices. Crude oil notched session lows at $88.36, its worst levels in ~2 weeks. Feb natural gas finished up 0.1% to $4.66 per MMBtu after it was able to recoup all of its morning losses.DJ30 +26.79 NASDAQ -7.27 SP500 -1.88 NASDAQ Adv/Vol/Dec 831/1.6 bln/1798 NYSE Adv/Vol/Dec 1056/788.9 mln/1921

3:00 pm : The stock market's upward push has taken pause. Leadership is still lacking so it will be interesting to see if stocks can fully recover in the final hour of trade.

Even though the broader market has trimmed its loss, natural resource plays haven't really been able to shake off sellers. As such, the energy sector is still down 0.7% while the materials sector graples with a 0.9% loss.

In the meantime, Treasuries have fallen back under a flurry of selling. The effort has taken the benchmark 10-year Note back into the red, though its loss is slim. DJ30 +13.05 NASDAQ -10.19 SP500 -3.13 NASDAQ Adv/Vol/Dec 793/1.48 bln/1845 NYSE Adv/Vol/Dec 1011/730 mln/1958

2:30 pm : A handful of automakers are showing signs of strength at the moment. The broader market's steady ascent off of its intraday low has helped provide a boon to the space.

Monthly sales results from several major automakers have been released throughout the day. For December, Ford (F 17.33, +0.08) reported that retail sales increased 17% from the prior year. General Motors (GM 37.65, +0.59) said that it saw total December sales climb 16% from the year before. Meanwhile, Toyota Motor (TM 79.60, +0.17) reported that its sales for December actually decreased by 2% year over year. Hyundai Motor America posted a 33% year-over-year surge in December sales. Daimler AG reported an increase of slightly less than 6% in U.S. sales during December. DJ30 +20.28 NASDAQ -8.39 SP500 -2.64 NASDAQ Adv/Vol/Dec 802/1.35 bln/1821 NYSE Adv/Vol/Dec 998/680 mln/1940

2:00 pm : Minutes from the most recent FOMC meeting were just released. No immediate reaction has been made to them. In turn, the stock market continues to crawl slowly off of its low and the dollar is holding on to a narrow gain.

According to the record of minutes, some voting members are still concerned about downside risk, especially as it relates to housing, but overall there is confidence in the recovery as economic activity continues to increase at a moderate rate. Still, voting members view the progress toward fulfilling the Fed's dual mandate as disappointingly slow. DJ30 +517 NASDAQ -15.11 SP500 -5.10 NASDAQ Adv/Vol/Dec 737/1.27 bln/1881 NYSE Adv/Vol/Dec 931/630 mln/2007

1:30 pm : Selling pressure has eased, at least for now. That has helped stocks make a modest move up from session lows. Still, the tone of trade today remains weak as stocks put together their poorest performance in almost three weeks.

Volatility is up amid this session's weakness. That has the Volatility Index up 3.5% to a fresh weekly high. DJ30 -9.65 NASDAQ -18.93 SP500 -6.05 NASDAQ Adv/Vol/Dec 673/1.16 bln/1947 NYSE Adv/Vol/Dec 866/583 mln/2069

1:00 pm : Stocks looked like they would extend the prior session's advance into this morning's action, but sellers were quick to pressure the major averages, which are now down with varied losses.

Early action was somewhat mixed, but the major equity averages still opened in positive ground. Gains abroad provided a positive backdrop. However, the tone of trade began to deteriorate within the first 30 minutes of the session. Losses have gradually compounded.

Not even surprisingly strong factory orders figures for November could stem the slide. Orders had increased 0.7% when a 0.3% decline had been widely expected to follow a 0.7% slide in the prior month.

The brunt of this session's selling effort has hit natural resource plays like energy stocks (-1.4%) and materials stocks (-1.7%). Their outsized slide comes as commodity prices retreat so that the CRB Commodity Index trades with a 1.9%.

Defensive-oriented stocks have managed to attract some support, however. As such, health care stocks are holding near the neutral line while telecom stocks are up 0.2% and utilities stocks are up 0.4%.

Treasuries have attracted support of their own amid the stock market's downturn. That has the yield on the benchmark 10-year Note at 3.31%, or about six basis points off of its session high.

The dollar has ticked higher, too. It had been down modestly against a collection of competing currencies this morning, but it is now at a session high with a 0.3% gain against that basket.DJ30 -20.710 NASDAQ -21.50 SP500 -7.66 NASDAQ Adv/Vol/Dec 637/1.07 bln/1982 NYSE Adv/Vol/Dec 809/540 mln/2113

12:30 pm : Stocks continue to extend their losses as a steady, broad-based selling effort takes the major equity averages to their lowest levels of the day.

In the face of the slide defensive-oriented plays have attracted support. As such, the health care sector is up fractionally while telecom is up 0.3% and utilities are up 0.4%.

Treasuries had actually started the day in the red, but they have since made a move to higher ground. That has the yield on the benchmark 10-year Note back near 3.30% after it was up near 3.37% this morning.

The dollar has ticked higher, too. It had been down modestly against a collection of competing currencies this morning, but it is now up 0.2% against that basket. DJ30 -29.22 NASDAQ -25.15 SP500 -8.06 NASDAQ Adv/Vol/Dec 631/970 mln/1970 NYSE Adv/Vol/Dec 803/488 mln/2113

12:00 pm : The Nasdaq had sported a narrow lead over the other major averages in the first few minutes of trade, but it has since come under more intense pressure than either of its counterparts. Losses among large-cap tech plays, like Oracle (ORCL 31.24, -0.38), represent the primary source of weakness for the Nasdaq.

As for the S&P 500, its weakness is largely underpinned by losses among natural resource plays. Among basic materials stocks, diversified metals and miners are in some of the worst shape; collectively, they are down 2.4%.

Although the Dow has managed to remain near the neutral line, it has been hampered by weakness in McDonald's (MCD 74.94, -1.66), which is probing three-month lows amid chatter of a multi-million share block trade. DJ30 -1.67 NASDAQ -17.53 SP500 -5.11 NASDAQ Adv/Vol/Dec 694/940 mln/1869 NYSE Adv/Vol/Dec 898/430 mln/2007

11:30 am : The S&P 500 is attempting to bounce off of the 1266 line, but leadership is lacking.

Telecom stocks, up 0.6%, are showing strength, but the sector only accounts for about 3% of overall market weight. Shares of Motorola's consumer segment, Motorola Mobility (MMI), debut on the NYSE today. The stock was given a positive review by analysts at Morgan Stanley. Motorola Solutions (MSI), which also debuts on the Big Board today, was given more tepid reviews. DJ30 -4.85 NASDAQ -13.70 SP500 -4.78 NASDAQ Adv/Vol/Dec 762/720 mln/1783 NYSE Adv/Vol/Dec 925/374 mln/1933

11:00 am : Both the Nasdaq and S&P 500 have extended their slide so that each is at a fresh session low. The Dow has actually managed to remain in positive territory with an incremental gain, thanks to strength in Boeing (BA 67.26, +0.86) following news of airplane orders by CIT Group (CIT 46.44, +0.09).

Despite strength in shares of BA, industrial plays have fallen to a collective loss of 0.4% as weakness becomes more widespread. Natural resource plays have come under particularly stiff selling pressure. In turn, both the materials sector and the energy sector are down 0.8%, which makes them the worst performing sectors in the S&P 500.

The selling effort against materials stocks and energy stocks comes as commodity prices extend their sell-off so that the CRB Commodity Index is now down 1.9%.DJ30 +4.16 NASDAQ -6.74 SP500 -4.05 NASDAQ Adv/Vol/Dec 963/589 mln/1541 NYSE Adv/Vol/Dec 1008/306 mln/1816

10:30 am : Most commodities are trading lower this morning with gold and silver two of the worst performers in the CRB Commodity Index. Losses were extended in recent trade after the dollar index put in a small rally in the last two hours.

Precious metals have been in negative territory all session so far. March silver is the worst performer in the CRB Index and just put in fresh session lows of $30.01 per ounce. It's currently just above that level, now at $30.06 per ounce, down 3.4%. February gold put in its own new session low of $1385.60 per ounce just before the top of the hour and is currently 2.5% lower at $1387.20 per ounce.

Energy markets are lower, led by crude oil futures. Crude fell into negative territory around 8:30am ET and has been there since. It fell off a cliff right at the top of the hour, losing ~$1.50 per barrel quickly and falling to new session lows of $89.44 per barrel. Crude is now 2.0% lower at $89.76 per barrel.

February natural gas has been in the red for over an hour now. It hit session lows a few minutes ago at $4.57 per MMBtu and is now 1.8% lower at $4.57 per MMBtu.DJ30 +9.12 NASDAQ -0.015 SP500 -2.52 NASDAQ Adv/Vol/Dec 1091/423.0 mln/1322 NYSE Adv/Vol/Dec 1119/229.7 mln/1667

10:00 am : Stocks remain mixed. Meanwhile, the dollar has worked its way closer to the neutral line after it had spent most of the early morning in the red -- the Dollar Index is now down less than 0.1%.

There hasn't been much of a reaction to the latest dose of data. That data indicated that factory orders for November increased 0.7%, which is a positive surprise since the Briefing.com consensus forecast had called for a 0.3% decline. Orders for the prior month were revised upward to reflect a 0.7% decline.

Advancing Sectors: Tech (+0.2%), Telecom (+0.2%)
Declining Sectors: Industrials (-0.5%), Utilities (-0.4%), Financials (-0.4%), Consumer Staples (-0.4%), Materials (-0.3%), Consumer Discretionary (-0.2%), Energy (-0.1%)
Unchanged: Health CareDJ30 -6.55 NASDAQ +0.11 SP500 -2.67 NASDAQ Adv/Vol/Dec 1015/272 mln/1328 NYSE Adv/Vol/Dec 1042/162 mln/1668

09:45 am : An early slip has dashed the stock market's opening gain and left its major sectors split between those in positive and negative territory.

Semiconductor stocks have attracted support, though. In turn, the Philadelphia Semiconductor Index is up 0.4%. Strength in that space has helped keep the Nasdaq hold on to a fractional gain.

Consumer staples stocks and utilities stocks were laggards in the prior session. Lack of support continues this morning as utilities fall to a 0.5% loss and consumer staples slide 0.6%. DJ30 +3.67 NASDAQ +2.51 SP500 -1.09 NASDAQ Adv/Vol/Dec 1132/160 mln/1132 NYSE Adv/Vol/Dec 1291/112 mln/1355

09:15 am : [BRIEFING.COM] S&P futures vs fair value: +1.90. Nasdaq futures vs fair value: +6.30. Stock futures are a bit off of their morning highs, but a positive tone continues to permeate premarket trade. That has been helped by renewed buying among overseas participants. Another decline in the dollar, however modest, has likely helped, too. Corporate news flow has been without any market moving headlines and, as such, remains relatively light ahead of earnings season, which gets its unofficial start next week with the latest quarterly report from Dow component Alcoa (AA). However, participants can expect a modicum of data later today. At 10:00 AM ET the latest factory orders figures will be released. More anticipated, though, are the minutes from the latest FOMC meeting at 2:00 PM ET. Monthly vehicle sales numbers will be released intermittently.

09:00 am : [BRIEFING.COM] S&P futures vs fair value: +0.50. Nasdaq futures vs fair value: +3.30. Commodities, especially precious metals, are having a rather challenging morning. In turn, the CRB Commodity Index is down 0.4% in early trade. Gold prices have dropped to a 2.0% loss at $1395 per ounce. Worse still is the 3.0% drop that has been suffered by silver, which now trades at $30.15 per ounce. Meanwhile, oil prices are down 0.7% to $90.90 per barrel in the first few minutes of pit trade. Natural gas has bucked the downtrend with a 0.2% gain to $4.66 per MMBtu.

08:30 am : [BRIEFING.COM] S&P futures vs fair value: +1.00. Nasdaq futures vs fair value: +4.00. Futures for the S&P 500 continue to sport a modest lead over fair value. Meanwhile, Germany's DAX is up 0.3% with help from Deutsche Boerse and Deutsche Bank (DB). BMW has become a laggard after it displayed leadership in the prior session. As for data, Germany's unemployment rate for December came in at 7.5%, which is unchanged from the prior month. France's CAC is up 0.9%, which comes on top of its 2.5% surge in the prior session. Total (TOT) is a leader for the second straight session. BNP Paribas and Societe Generale have complemented its effort. France's Consumer Confidence Index for December came in at -36, which follows a -33 reading for November. Britain's FTSE has run up to a 2.3% gain as it catches up with its counterparts after it had remained closed yesterday. The FTSE is currently led by BP Plc (BP), which reportedly was considered a takeover target by Royal Dutch Shell (RDS.A). Declining issues in the FTSE are limited to less than 10% of its components. As for data, the December Manufacturing PMI for the United Kingdom came in at 58.3, which is the highest reading in four years of available records. Broader eurozone data featured a CPI reading for December that increased 2.2%, which is a stronger clip than the 1.9% increase that was recorded for the same perioed one year ago.

In Asia, Japan's Nikkei reopened from a long weekend to spike to a 1.7% gain. More than 95% of the issues in the Nikkei staged gains. Fast Retailing was a leader. China's Shanghai Composite was also closed yesterday. It reopened to strong buying that sent it to a 1.6% gain. PetroChina (PTR), China Petroleum (SNP), and China Life led nearly 90% of the issues to gains. Hong Kong's Hang Seng advanced 1.0% to add to its 1.7% gain in the prior session. Hutchison Whampoa was a leader once again. CNOOC (CEO) was a notable laggard, though.

08:00 am : [BRIEFING.COM] S&P futures vs fair value: +1.30. Nasdaq futures vs fair value: +4.30. The prior session ended with stocks slightly off of their highs, but strong gains were still scored. The buying effort has extended into this morning, such that stock futures are up modestly over fair value. Additional gains abroad have helped perpetuate the positive tone; both Asia's major averages and Europe's major bourses are up with varied gains. Meanwhile, the dollar has resumed its downtrend after it made a modest gain yesterday against a basket of competing currencies. That was the greenback's first gain in eight sessions. There is a bit of data on tap for today. Factory orders figures for November will be posted at 10:00 AM ET. Minutes from the most recent FOMC meeting are not due until 2:00 PM ET. Monthly vehicle sales numbers will be released intermittently.

06:41 am : S&P futures vs fair value: +2.30. Nasdaq futures vs fair value: +3.30.

06:41 am : Nikkei...10398.10...+169.20...+1.70%. Hang Seng...23668.48...+232.40...+1.00%.

06:41 am : FTSE...6040.87...+140.80...+2.40%. DAX...7020.20...+3.00...+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/bar analysis)
Price Action Trading (no technical 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