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 Post subject: February 1st Tuesday 2011 Emini TF ($TF_F) points +8.90
PostPosted: Tue Feb 01, 2011 7:51 pm 
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
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click on the above image to view today's trading summary

Quote:
Like yesterday, only a few trades today. I usually do this as a way to re-energize from a prior month of trading that involved aggressive trading, stressful trading and when I've exceeded my profit goals for the month. If you have any questions about my trading, want more details about the trade signal behind a particular trade or want to reply about something stated in this message post...click here.

Trade Performance for Today: +8.90 points or $890.00 dollars in the Russell 2000 Emini TF ($TF_F) Futures.
Russell 2000 Emini TF Futures - 1 tick or 0.10 = $10.00 dollars and there's more contract information @ The ICE.
S&P 500 Emini ES Futures - 1 tick or 0.25 = $12.50 dollars and there's more contract information @ CMEGroup.

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=87&t=746. 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=131&t=921

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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 Bloomberg (Youtube) - Dow Closes Above 12,000 for First Time Since June 2008



Image CNNMoney.com - Dow, S&P 500 Close At Highest Levels In 2 Years
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click on the above image to view today's price action of key markets

By Hibah Yousuf, staff reporter
February 1, 2011: 4:38 PM ET

NEW YORK (CNNMoney) -- U.S. stocks started February with a bang Tuesday, with the Dow and S&P 500 closing above key psychological levels for the first time in more than two years, and the Nasdaq gaining almost 2%.

Investors overcame ongoing jitters over protests in Egypt and new developments in Jordan, where the king dismissed his government and appointed a new prime minister.

The Dow Jones industrial average (INDU) rallied 148 points, or 1.3%, to finish at 12,040, the highest June 19, 2008.

All but three of the 30 blue-chip components moved higher. A 5.5% jump in shares of Pfizer (PFE, Fortune 500) led the advance, with the drugmaker posting better-than-expected fourth-quarter earnings. Alcoa (AA, Fortune 500) and Bank of America (BAC, Fortune 500) were also big Dow gainers.

The S&P 500 (SPX) added 21 points, or 1.7%, to close at 1,307, also the highest since June 2008. Shares of printer manufacturer Lexmark (LXK) soared more than 13% following strong earnings and an upbeat forecast.

The Nasdaq (COMP) gained 51 points, or 1.9%. Baidu (BIDU) was the tech-heavy index's big winner, with shares spiking more than 9%. China's main Internet search provider said its fourth-quarter profit nearly tripled from a year earlier, to $176 million.
Emerging markets are hot: Place your bets

Chinese online media firm Sohu.com (SOHU) also jumped more than 6%, a day after reporting strong earnings.

Much stronger-than-expected manufacturing data added fuel to the buying spree.

"Economic data remains fairly positive and quarterly earnings are coming out strong across the board," said Rob Lutts, chief investment officer at Cabot Money Management. "Those are having a big impact and driving expectations higher."

U.S. stocks posted solid gains Monday and ended January about 2% higher, as positive earnings from Exxon Mobil (XOM, Fortune 500) and rising commodity prices overshadowed the political unrest in Egypt. The Dow finished the month 2.7% higher, representing the first January gain since 2007, and the best first-month performance since 1997.
0:00 /01:12Investors seek out Baidu

Economy: Construction spending dropped 2.5% in December, following a rise of 0.4% in November. Economists were expecting spending to ease 0.4% during the month.

General Motors (GM) kicked off the year with stronger-than-expected sales in January, driven by increased demand from individual customers. GM stock was slightly higher.

In Washington, the Senate Budget Committee kicked off three days of hearings on the economic outlook, tax reform and challenges to the economic recovery.

* Jobs back but pay stinks

At the end of the week, the government releases its January jobs report, and investors will be eyeing the report closely for signs of improvement in the labor market.

* Video - Summers: Confidence is cheap stimulus

Companies: Before the opening bell, United Parcel Service (UPS, Fortune 500) logged a 44% jump in profit that beat forecasts and said it expects earnings per share to climb to a record high for 2011. Shares of the package delivery company finished up 4.2%.

Shares of Borders (BGP) plunged more than 35% in the final minutes of trading following a Bloomberg report that the bookseller may file for bankruptcy protection as early as next week. The report, which cited people familiar with the matter, also said several private equity firms are considering whether to provide a junior loan to the company, which will likely close at least 150 stores.

World markets: Protests in Egypt resumed Tuesday and tensions were still far from resolved, with Standard & Poor's announcing it cut Egypt's foreign currency rating. The news came a day after Moody's downgraded its rating on Egypt's debt.

But some investors think the fears that sparked a sell-off in the stock market late last week may have been overblown and the situation is beginning to stabilize.

Egyptian President Hosni Mubarak has decided not to seek re-election, a senior U.S. official involved in the Obama administration's deliberations on Egypt said Tuesday afternoon.

"Investors are realizing that while there are still issues in Egypt and across the Middle East, they will likely be resolved," Lutts said. "For now, we're gravitating back to the reality that the U.S. economy is recovering."

European stocks gained Tuesday. Britain's FTSE 100 and France's CAC 40 rallied 1.6%, and the DAX in Germany rose 1.4%.

Asian markets ended higher. The Shanghai Composite edged up 0.3%, the Hang Seng in Hong Kong gained 0.2% and Japan's Nikkei rose 0.4%.

Currencies and commodities: The dollar slumped against the euro, the Japanese yen and the British pound.

* Oil threat in Egypt may be overblown

Oil for March delivery slipped $1.42 cents to settle at $90.77 a barrel. On Monday, crude prices jumped to their highest level since October 2008, gaining 2.9% to settle at $92.19 a barrel, amid worries about potential disruptions to shipments through the Egypt-controlled Suez Canal.

Gold futures for April delivery gained $5.80 to settle at $1,340,30 an ounce.

Bonds: The price on the benchmark 10-year U.S. Treasury fell, pushing the yield up to 3.44% from 3.35% late Friday.

Image

Image Yahoo! Finance - Market Update

4:30 pm : Stocks scored their strongest single session gain in eight weeks on the back of broad-based buying. The effort took the stock market to a new two-year high.

The stock market's refusal to extend Friday's sharp slide yesterday was treated as an encouraging sign to buyers. Gains abroad also offered a positive backdrop for further buying this session.

Support for stocks was wide ranging as nearly 90% of the issues in the S&P 500 staged gains. Every sector except consumer staples (+0.7%) registered a gain of more than 1%. Materials stocks and financial stocks were among the best performers for the second straight session; they climbed 2.8% and 2.2%, respectively.

Such a strong, concerted buying effort helped the S&P 500 close comfortably above the 1300 line, which is where it had faltered on a couple of occasions last week, to its best level since August 2008. The Dow also set a two-year high and closed above the psychologically significant 12,000 line for the first time since June 2008, but the Nasdaq is still shy of the highs that it set a couple of weeks ago.

Dow component Pfizer (PFE 19.22, +1.00) was among this session's best individual performers and most actively traded names by volume. The pharmaceutical outfit's upside earnings surprise was cheered while its disappointing forecast was shrugged off.

In other earnings news, Baidu.com (BIDU 118.73, +10.10), Anadarko Petroleum (APC 78.54, +1.46), UPS (UPS 74.59, +2.97), and Archer-Daniels Midland (ADM 34.70, +2.03) all beat bottom line expectations. BP Plc (BP 47.98, +0.51) came short of the consensus earnings estimate, but announced that it will resume its dividend at 50% of its dividend from the first quarter of fiscal 2010.

Ford Motor (F 15.89, -0.06) saw strong volume following news of its 13% increase in total January sales. General Motors (GM 36.45, -0.04) announced a 23% annual increase in January sales and Toyota Motor (TM 83.29, +1.11) said its January U.S. sales increased 17% from the prior year.

An increased appetite for stocks prompted many to dump the dollar. In turn, the greenback fell 1.0% against a collection of competing currencies to its lowest level in more than two months.

Data was given only brief consideration this session. Although the January ISM Manufacturing Index improved to a six-year high of 60.8, which is greater than the 58.4 that had been expected, on average, among economists polled by Briefing.com, construction spending during December fell 2.5% when a 0.4% decline had been widely expected.

Advancing Sectors: Materials (+2.8%), Financials (+2.2%), Energy (+1.9%), Tech (+1.8%), Health Care (+1.8%), Industrials (+1.6%), Consumer Discretionary (+1.2%), Telecom (+1.2%), Utilities (+1.1%), Consumer Staples (+0.7%)
Declining Sectors: (None)DJ30 +148.23 NASDAQ +51.11 NQ100 +1.9% R2K +2.3% SP400 +1.6% SP500 +21.47 NASDAQ Adv/Vol/Dec 2036/2.28 bln/624 NYSE Adv/Vol/Dec 2482/1.09 bln/539

3:30 pm : Commodities finished mixed today, with industrials (+2.2%) the largest advancing sector and energy (-0.5%) the largest declining sector.

March crude oil finished lower by 1.5% to $90.77 per barrel. Despite the pullback, all eyes remain on the unrest in Egypt and any potential supply disruptions that could arise from the situation. March natural gas closed lower by 1.4% to $4.34 per MMBtu.

Weakness in the dollar helped gold and silver recoup earlier losses and finishes the session in positive territory. April gold closed higher by 0.4% to $1340.30 per ounce while March silver gained 1% to finish at $28.51 per ounce. DJ30 +145.16 NASDAQ +54.17 SP500 +21.39 NASDAQ Adv/Vol/Dec 2039/1.9 bln/625 NYSE Adv/Vol/Dec 2522/787.4 mln/486

2:30 pm : The stock market has eased back a couple of points over the course of the past couple of hours, but it still remains sharply higher for the session. Strength remains broad based with close to 90% of the names in the S&P 500 in higher ground and McDonald's (MCD 73.50, -0.17) the only blue chip in the Dow to trade with a loss.

Toyota Motor (TM 83.15, +0.97) recently released its January figures for U.S. sales, which increased 17% from the prior year. Daimler AG (DAI 73.96, +0.84) reported a 14% increase in U.S. sales during January. Chrysler Group posted a 23% year-over-year increase in U.S. sales for January. General Motors (GM 36.66, +0.17) announced a 23% annual increase in January sales. Ford Motor (F 16.07, +0.12) posted a 13% increase in total January sales. Nissan Motor (NSANY 20.52, +0.17) said its North American sales increased 15% in January from a year earlier. DJ30 +136.46 NASDAQ +51.87 SP500 +20.16 NASDAQ Adv/Vol/Dec 2038/1.60 bln/584 NYSE Adv/Vol/Dec 2472/665 mln/492

2:00 pm : Financials have run ahead to a 2.1% gain, which makes it the second best performing sector next to the materials sector's 2.5% advance. Among financial plays, Bank of America (BAC 14.27, +0.54) has been a particularly big mover. The stock is up almost 4% and it is also among this session's most actively traded names by share volume.

In contrast, defensive-oriented utilities plays are lagging the broader market as they trade with a relatively tame gain of 0.7%, which is less than half of what the S&P 500 has achieved today. Electric utilities giant Dominion (D 43.68, +0.14) has dragged today; it even spent some time in negative territory. DJ30 +136.88 NASDAQ +51.44 SP500 +20.04 NASDAQ Adv/Vol/Dec 2035/1.47 bln/571 NYSE Adv/Vol/Dec 2478/615 mln/492

1:30 pm : Stocks have paused near session highs. So far, this session is shaping up to be the stock market's strongest in two months.

Though buying has been broad, the Nasdaq is out in front of its counterparts. Some of that lead is owed to strength in semiconductor plays, which are collectively up 2.8%. Semiconductor stocks haven't made such a sharp move since a 3.3% spike on December 1. DJ30 +151.07 NASDAQ +52.66 SP500 +21.85 NASDAQ Adv/Vol/Dec 2037/1.36 bln/552 NYSE Adv/Vol/Dec 2519/569 mln/455

1:00 pm : A decidedly positive tone among market participants has the S&P 500 up sharply to its best level in more than two years. The ascent has been steady and broad based.

Stocks slumped this past Friday, but buyers took little time to step back into the action. Their bid in the prior session gave stocks a nice bounce and helped encourage buying abroad overnight and this morning. That has helped perpetuate a positive tone among participants, who continue to push back into stocks.

Buying has been steady and broad based, such that almost 90% of the names in the S&P 500 are in higher ground. Of the major sectors, only utilities (+0.5%), consumer staples (+0.8%), and telecom (+0.8%) have gained less than 1%. Such strength has helped the benchmark Index push through resistance along the 1300 line to its best level since September 2008.

Materials stocks are in the strongest shape. Adding to its 1.6% advance in the prior session, the materials sector is up 2.7% today. Bemis (BMS 32.45, -0.10) and Eastman Chemical (EMN 91.48, -1.38) are its only two members in the red. Both firms came short of consensus earnings estimates, but Eastman Chemical issued a strong forecast while Bemis issued downside guidance.

In other earnings news, Baidu.com (BIDU 118.26, +9.63), Anadarko Petroleum (APC 78.88, +1.80), UPS (UPS 74.69, +3.07), and Archer-Daniels Midland (ADM 34.74, +2.07) all beat bottom line expectations. Pfizer (PFE 19.26, +1.04) also beat, but issued downside guidance. BP Plc (BP 47.94, +0.47) came short of the consensus earnings estimate, but announced that it will resume its dividend at 50% of its dividend from the first quarter of fiscal 2010.

Investors continue to rotate out of the dollar, which has sunk to a 0.9% loss against a basket of competing currencies. The slide has the Dollar Index at a new two-month low.

Today's data didn't really drive any kind of a reaction among traders. The January ISM Manufacturing Index came in at a stronger-than-expected 60.8, but construction spending during December dropped a surprisingly sharp 2.5%. DJ30 +146.56 NASDAQ +54.52 SP500 +21.97 NASDAQ Adv/Vol/Dec 2005/1.24 bln/555 NYSE Adv/Vol/Dec 2522/522 mln/439

12:30 pm : Stocks continue to climb. The ascent has the S&P 500 above 1305 for the first time since September 2008. Meanwhile, the Dow is back above 12,000 to trade at a fractionally improved two-year high. However, the Nasdaq's move above 2750 is still not enough to put it at the two-year high that it set a couple of weeks ago.DJ30 +127.72 NASDAQ +51.93 SP500 +19.80 NASDAQ Adv/Vol/Dec 1992/1.10 bln/554 NYSE Adv/Vol/Dec 2484/470 mln/459

12:00 pm : The stock market has clicked higher to its best level of the day. What's more, the move has the S&P 500 at its highest level since September 2008.

This session's advance builds on the monthly gain of about 2% that the S&P 500 recorded for January. That has some market watchers excited since the January barometer posits that as January goes, so goes the year. However, it should be noted that despite losses incurred for both January 2010 and January 2009, robust annual gains were recorded in both of those years.

Nonetheless, this session's big, broad-based gains have caused volatility to cool further. In turn, the Volatility Index is down about 10%. DJ30 +106.15 NASDAQ +42.43 SP500 +16.99 NASDAQ Adv/Vol/Dec 1948/950 mln/587 NYSE Adv/Vol/Dec 2415/420 mln/519

11:30 am : The dollar has moved deeper into negative territory so that it now trades at a session low with a 0.7% loss against a collection of competing currencies. Weakness in the greenback today has taken the Dollar Index to its lowest level in more than two months. The slide is primarily owed to the euro and the pound, which are up 0.7% and and 0.8% to $1.379 and $1.614, respectively.

Treasuries are also under pressure this session. The benchmark 10-year Note is currently down about half of a point, which has been enough to take the yield on the Note comfortably above 3.40%. The yield on the 10-year Note was actually up to 3.46% earlier today, but that is still about 10 basis points shy of the seven-month high that was set in December. DJ30 +98.13 NASDAQ +38.06 SP500 +15.57 NASDAQ Adv/Vol/Dec 1883/800 mln/620 NYSE Adv/Vol/Dec 2330/358 mln/581

11:00 am : The S&P 500 has pushed itself above the 1300 line after encountering some brief resistance there. It is now about a point away from the two-year high that it set last week before rolling over in Friday's sell-off.

Although support remains broad, materials stocks continue to attract the strongest buying iterest -- the sector is up 2.2%. Of the 30 issues that make up the materials sector, only Bemis (BMS 32.32, -0.23) and Eastman Chemical (EMN 91.39, -1.47) are in the red. Both firms reported earnings that came short of consensus expectations, but Eastman Chemical issued a strong forecast while Bemis issued downside guidance. DJ30 +93.32 NASDAQ +38.35 SP500 +15.48 NASDAQ Adv/Vol/Dec 1877/667 mln/579 NYSE Adv/Vol/Dec 2322/300 mln/560

10:30 am : Precious metals have come under pressure in recent trade. They had been up with modest gains in the early going, but now gold is down with a 0.4% loss at $1328 per ounce and silver is off by 0.6% at $27.99 per ounce.

Oil prices had swung from a morning low of $91.06 per barrel to a modest gain at $92.45 per barrel, but the energy component is now back in the red with a 0.2% loss at $92.00 per barrel. Natural gas prices are down 1.3% to $4.36 per MMBtu.

Despite the appearance of widespread weakness in the commodity space, the CRB Commodity Index is only down fractionally after it surged 1.8% to a two-year high yesterday. Support has come from cotton, which is up 1.8% to $1.72 per pound, and coffee, which is up 1.3% to $2.48 per pound. DJ30 +86.28 NASDAQ +31.51 SP500 +13.71 NASDAQ Adv/Vol/Dec 1780/498 mln/606 NYSE Adv/Vol/Dec 2229/230 mln/580

10:00 am : Following a brief breather stocks regrouped to push to fresh session highs. There really hasn't been much of a reaction to the latest dose of data, though.

The January ISM Manufacturing Index came in at 60.8, which is greater than the 58.4 that had been expected, on average, among economists polled by Briefing.com. The January Index reading also marks an improvement from the 58.5 posted for the prior month.

Construction spending during December fell 2.5% after a downwardly revised 0.2% decline in the prior month. The December drop is deeper than the 0.4% decline that had been widely expected.

Advancing Sectors: Materials (+1.6%), Health Care (+1.1%), Financials (+1.0%), Tech (+0.9%), Energy (+0.9%), Telecom (+0.8%), Industrials (+0.7%), Consumer Discretionary (+0.6%), Consumer Staples (+0.5%), Utilities (+0.4%)
Declining Sectors: (None) DJ30 +69.29 NASDAQ +26.60 SP500 +11.60 NASDAQ Adv/Vol/Dec 1684/302 mln/604 NYSE Adv/Vol/Dec 2195/158 mln/561

09:45 am : Each major equity average is up with a strong gain. Buying has been broad based to this point, but materials stocks have displayed the most strength, so far. Materials stocks are up 1.5%, which comes on top of the sector's 1.6% climb in the prior session.

Commodities have turned higher in recent trade. That has the CRB Commodity Index up 0.2% after it had been in the red earlier this morning. Among the more widely watched commodities, oil prices are now nearly flat at $92 per barrel after they had been as low as $91.06 per barrel at its morning low. DJ30 +59.00 NASDAQ +23.87 SP500 +10.32 NASDAQ Adv/Vol/Dec 1649/195 mln/572 NYSE Adv/Vol/Dec 2177/115 mln/529

09:15 am : S&P futures vs fair value: +8.70. Nasdaq futures vs fair value: +15.80. Stock futures continue to suggest that a strong start to trade is in order. Such a move would build on the prior session's bounce and bring stocks closer toward erasing the 1.8% drop that the S&P 500 suffered last Friday. The absence of any follow through selling has likely reassured buyers and, in turn, encouraged them to offer new bids. That was especially evident among natural resource plays yesterday. Emboldened participants continue to rotate out of the dollar, which is down another 0.5% this morning to a new two-month low against competing currencies. Trade this morning has, so far, been helped by a positive tone abroad and another batch of generally upbeat earnings, although BP Plc (BP) came short of the consensus earnings call and an upside surprise from Pfizer (PFE) was overshadowed by disappointing guidance. Coming up at 10:00 AM ET are the latest construction spending figures and the latest ISM Manufacturing Index. Vehicle sales figures will be released throughout the day.

09:05 am : S&P futures vs fair value: +8.30. Nasdaq futures vs fair value: +15.30. Commodities are mixed in morning trade, but the CRB Commodity Index is down 0.3% after it surged 1.8% to a two-year high in the prior session. Oil has run into some selling after climbing more than 3% to set its own two-year high in the prior session; prices are currently down 0.6% at $91.60 per barrel. Natural gas prices are under even sharper pressure as they contend with a 1.9% loss at $4.34 per MMBtu. Gold prices are up 0.2% to $1336.30 per ounce. Silver is stronger with a 0.4% gain at $28.29 per ounce.

08:35 am : S&P futures vs fair value: +7.70. Nasdaq futures vs fair value: +14.00. Futures for the S&P 500 continue to sport a strong lead over fair value. Strength has been helped by a positive tone abroad, where Germany's DAX is up to a 1.0% gain amid broad-based buying. HeidelbergCement, Fresenius, and Volkswagen are the only three names in the 30-member Index that are currently in the red. Germany's final Manufacturing PMI for January came in at 60.5, down from the prior month reading of 60.7. France's CAC has climbed to a 1.0% gain. Total (TOT) and BNP Paribas are leaders there. Carrefour is a laggard, though. As for data, France's December Producer Price Index increased 1.0%, which is sharper than the 0.4% increase that was recorded in the prior month. Britain's FTSE has pushed up to a 1.0% gain. Royal Dutch Shell (RDS.A), Rio Tinto (RIO), and BHP Billiton (BHP) are leaders there. It has been learned that the Manufacturing PMI for the United Kingdom climbed to a record high of 62.0 in January. The eurozone Manufacturing PMI improved to 57.3 from 57.1 in the prior month. The tone of trade in Europe has been helped by renewed interest in Greece, where the country's ASE Index is up more than 4% following the decision by Credit Suisse to raise its rating on the country's equities.

In Asia, Japan's Nikkei was led to a 0.4% gain by TDK and Honda Motor (HMC), which posted its latest quarterly report yesterday. Suzuki Motor and Canon (CAJ) dragged on trade, though. China's Shanghai Composite closed 0.3% higher, even though the number of advancing issues and declining issues were almost perfectly balanced. Strength in PetroChina (PTR) provided a positive influence, though. China's Manufacturing PMI for January came in at 52.9, but that is down from the 53.9 that was posted for the prior month. Hong Kong's Hang Seng mustered a 0.2% gain with help from heavyweights CNOOC (CEO), HSBC (HBC), PetroChina, and China Mobile. Li & Fung, China Construction Bank, and Cheung Kong weighed on trade.

08:05 am : S&P futures vs fair value: +7.50. Nasdaq futures vs fair value: +14.50. A broad bid by premarket participants has stock futures pointing toward a strong start for Tuesday's trade. Varied gains abroad have provided a positive backdrop to action ahead of the open. Asia's major equity averages made modest gains overnight, but Europe's major bourses are presently up by almost 1%. Both China and Germany saw Manufacturing PMI for January slip a bit from the prior month, but the United Kingdom recorded its best reading since record keeping began in 1992. Eurozone Manufacturing PMI for January hit its highest level since April. As for domestic data, today's calendar includes construction spending figures for December and ISM Manufacturing for January at 10:00 AM ET. Monthly vehicle sales numbers will be released intermittently during the day. As for the latest round of earnings, Baidu.com (BIDU) posted a bottom line beat that has helped shares of the company hit record highs ahead of the open. Anadarko Petroleum (APC) also posted a positive surprise, but BP Plc (BP) missed the consensus earnings estimate. Global package delivery provider UPS (UPS) posted upside results of its own.

07:28 am : [BRIEFING.COM] S&P futures vs fair value: +6.30. Nasdaq futures vs fair value: +13.30.

07:27 am : Nikkei...10274.50...+36.60...+0.40%. Hang Seng...23482.95...+35.60...+0.20%.

07:27 am : FTSE...5922.06...+59.10...+1.00%. DAX...7147.18...+69.80...+1.00%.

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

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