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 Post subject: February 15th Tuesday 2011 Emini TF ($TF_F) points +15.40
PostPosted: Tue Feb 15, 2011 7:42 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)
Attachment:
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click on the above image to view today's trading summary

Quote:
Easy going trading day although I had a lot of canceled trade orders...only 3 trades today...all winners and that is rare because usually I have at least one trade loss in a trading day. 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: +15.40 points or $1540.00 dollars in the Russell 2000 Emini TF ($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=757. 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 CNNMoney.com - Stocks Take Worst Hit In 2 Weeks
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click on the above image to view today's price action of key markets

By Hibah Yousuf, staff reporter
February 15, 2011: 4:38 PM ET

NEW YORK (CNNMoney) -- U.S. stocks finished lower Tuesday, posting the biggest losses in more than 2 weeks, as investors digested a weaker-than-expected report on January retail sales.

The Dow Jones industrial average (INDU) lost 42 points, or 0.3%, with Exxon Mobil (XOM, Fortune 500), Boeing (BA, Fortune 500) and Alcoa (AA, Fortune 500) leading the blue-chip index's decline.

The S&P 500 (SPX) fell 4 points, or 0.3%. NYSE Euronext (NYX, Fortune 500) -- the parent company of the New York Stock Exchange -- was one of the biggest losers on the index. Shares dropped 3.4% after the company announced it agreed to merge with Germany's Deutsche Boerse -- creating the world's largest exchange group.

The Nasdaq (COMP) slipped 13 points, or 0.5%, with a 2.7% drop in shares of Netflix (NFLX) weighing on the tech-heavy index. The losses came a day after the online movie rental company's stock rose to an all-time high. Chipmaker Qualcomm (QCOM, Fortune 500) said Monday it is developing a new platform, to bring Netflix and other video streaming services onto Google (GOOG, Fortune 500) Android-enabled smartphones.

It was the worst performance for all three indexes since Jan. 28.

The broad selling pressure came after the government reported that retail sales slowed in January, as consumers primarily focused on paying for groceries and gasoline.

* For mergers, it's a small world after all

"Investors are disappointed with the retail sales data from last month that came in below expectations," said Timothy Ghriskey, chief investment officer at Solaris Asset Management. "January is a squirrely month anyway, and we also had a lot of bad weather."

Stocks ended Monday's session mixed, as investors mulled over President Obama's 2012 budget proposal in a quiet trading session. The $3.7 trillion budget request would cut the nation's long-term deficit by about $1.1 trillion, over the next 10 years.

The market has been moving gradually higher this year, amid expectations of an improving economy. The S&P 500 is up nearly 6% so far in 2011.

"This market has proven to be extremely resilient, and I think it still has more upside to it," Ghriskey said.

* Video - Deutsche Boerse gets NYSE

Economy: The Commerce Department said retail sales rose 0.3% in January, down from an increase of 0.5% in December. Sales were expected to have gained 0.5% in January, according to consensus estimates from economists surveyed by Briefing.com.

Sales excluding autos and auto parts also rose to a weaker-than-expected 0.3% -- compared to a 0.5% increase in ex-auto sales in December. Economists had forecast a rise of 0.6% in the measure for January.

The price index for U.S. imports increased 1.5% in January, the U.S. Bureau of Labor Statistics stated. The report cited higher prices for fuel and nonfuel imports as contributors to the advance. U.S. export prices rose 1.2% in January, following increases of 1.5% in November and 0.6% in December.

A separate report from the government showed that business inventories rose 0.8% in December, after edging up 0.2% the previous month. Economists were expecting inventories to increase 0.6%.

The National Association of Homebuilders' preliminary housing market index for February held steady at 16, missing expectations to rise to 17.

Companies: Sirius XM Radio (SIRI) reported a loss of 2 cents per share in the fourth quarter, and issued a 2011 sales outlook that was slightly below analysts' expectations. Shares fell 8.2%.

Hotel chain Marriott (MAR, Fortune 500) announced late Monday its plans to split into two separate, publicly traded companies. Under the plan, Marriott will spin off its timeshare operations and development business as a new independent company. Shares were up 1.1%.

Shares of Dell (DELL, Fortune 500) rallied more than 6% after the closing bell. The company posting fourth-quarter results that showed earning per share of 53 cents, beating expectations, and $15.69 billion in sales, which came in slightly below expectations. For the current year, Dell issued an upbeat guidance, saying it expects sales to rise between 5% and 9%.

World markets: European stocks closed mixed. Britain's FTSE 100 fell 0.4%, while the DAX finished slightly higher and France's CAC 40 added 0.3%.

China's consumer price index rose 4.9% in January, up slightly from 4.6% growth in December, according to data released by the Chinese government Tuesday morning.

Asian markets ended mixed. The Shanghai Composite was flat and the Hang Seng in Hong Kong slid nearly 1%, while Japan's Nikkei added 0.2%.

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

Oil for March delivery fell 49 cents to $84.32 barrel.

Gold futures for April delivery rose $9 to $1,374.10 an ounce.

Bonds: The price on the benchmark 10-year U.S. Treasury was unchanged, with the yield at 3.62%.

Image

Image Yahoo! Finance - Market Update

4:30 pm : A deluge of data failed to inspire buyers to build on the prior session's two-year closing high. Instead, the major equity averages fell modestly.

Stocks stretched in the prior session so that the S&P 500 came within reach of the 100% gain level from its 2009 low, but participants were generally inclined to sell today. As such, energy and materials plays, which had been leaders in the prior session, succumbed to profit taking. Both sectors logged losses of 1.1%.

Overall pressure was more mild, but utilities (+0.3%) and consumer discretionary stocks (+0.1%) were the only two sectors to score gains. The discretionary space was helped by Marriott (MAR 41.46, +0.46), which reported a better-than-expected bottom line, but issued a mixed outlook.

In other corporate news, Marsh & McLennan (MMC 30.23, +1.36) posted an upside surprise of its own. That helped its shares surge. FedEx (FDX 95.98, +1.99) trimmed its forecast. That was widely forgiven because the revision stemmed from the impact of weather, although higher fuel prices also played a part.

In the latest merger news, NYSE Euronext (NYX 38.12, -1.33) and Deutsche Boerse confirmed that they will combine.

Despite those announcements, data was the theme of the day. Among the more widely watched reports, advance retail sales and sales less autos both increased by 0.3% in January. Economists polled by Briefing.com had expected, on average, increases of 0.5% and 0.6%, respectively. The retail sales picture was further imbued by news that figures for the prior month were revised downward.

The Empire Manufacturing Survey for February came in at 15.4. That was up from the 11.9 posted for the prior month, but in line with the 15.5 consensus call published by Briefing.com.

Import prices for January increased 1.5% month over month, Net Treasury International Capital Flows increased to $48.2 billion in December from $35.6 billion in the prior month, and business inventories for December increased 0.8%. Those reports were assigned secondary status, though.

As for overseas data, China's CPI increased by 4.9% in January. Though that marked an acceleration from the 4.6% increase in December, it wasn't as bad as what had been widely feared. Still, China's PPI for January spiked an even sharper 6.6% after a 5.9% increase in the prior month. Japan reported that its industrial production increased 3.3% during December. The country's central bank also upgraded its economic outlook, but made no change to its key interest rate.

In Europe, France and Germany both reported that their fourth quarter GDP grew 0.4%, but eurozone GDP expanded at a slower 0.3% in the fourth quarter. The eurozone ZEW Survey for February improved to 29.5 from 25.4 in January, but Germany's February ZEW made a more modest improvement to 15.7 from 15.4 from the prior month. Consumer prices heated up even further in the United Kingdom with a 4.0% increase in January after a 3.7% increase in December. That report helped drive the British pound higher against the greenback.

Although the pound gained ground against the dollar, the Dollar Index managed to finish the trading session flat as the dollar advanced against the yen. The Dollar Index just set a three-week high in the prior session.

Advancing Sectors: Utilities (+0.3%), Consumer Discretionary (+0.1%)
Unchanged: Consumer Staples
Declining Sectors: Health Care (-0.1%), Financials (-0.2%), Telecom (-0.3%), Industrials (-0.3%), Tech (-0.5%), Energy (-1.1%), Materials (-1.1%)DJ30 -41.55 NASDAQ -12.83 NQ100 -0.2% R2K -0.7% SP400 -0.5% SP500 -4.31 NASDAQ Adv/Vol/Dec 1007/2.01 bln/1627 NYSE Adv/Vol/Dec 1131/927 mln/1828

3:30 pm : Commodities were mixed today, with industrials (+0.9%), precious metals (+0.8%), and livestock (+0.1%) all finishing higher and grains (-2.3%), softs (-0.8%), and energy (-0.6%) closing lower.

May wheat shed 3.5% to close at $8.72 per bushel, while May soybeans ended off 2.5% to $13.81 per bushel. Profit taking from recent rallies weighed on ag prices today.

Inflation concerns, following CPI data from China and Britain, supported the precious metals today. April gold ended higher by 0.6% to $1374.10 per ounce, while March silver finished up 0.6% to $30.70 per ounce.

March crude oil finished lower by 0.6% to $84.32 per barrel. Prices traded to their lowest levels since Nov 30. March natural gas ended higher by 0.9% to $3.97 per MMBtu. DJ30 -56.53 NASDAQ -12.56 SP500 -5.64 NASDAQ Adv/Vol/Dec 978/1.6 bln/1640 NYSE Adv/Vol/Dec 1196/619.6 mln/1752

3:00 pm : Stocks have started to rebound from their afternoon lows, but lingering weakness has left the major averages in the red. As things currently stand, the stock market is on pace for only its second loss in nine sessions. Only an hour remains before the session's end.

After the close Bob Evans (BOBE 34.05, +0.00), Dell (DELL 13.85, -0.24), and several other names are scheduled to report earnings. Tomorrow morning brings the latest from Abercrombie & Fitch (ANF 53.79, -0.71), Comcast (CMCSA 24.06, +0.19), and Deere (DE 93.58, -1.18), as well as others. A complete list of companies scheduled to report tomorrow and beyond can be viewed on Briefing.com's Earnings Calendar. DJ30 -54.98 NASDAQ -12.77 SP500 -5.49 NASDAQ Adv/Vol/Dec 962/1.49 bln/1641 NYSE Adv/Vol/Dec 1154/573 mln/1787

2:30 pm : Stocks have fallen under an afternoon flurry of selling, which has threatened to take the broad market down to a fresh session low. The move has been broad based, but energy stocks and materials stocks are in the worst shape. Those two sectors are down 1.4% and 1.2%, respectively.

Even financials have been caught up in the latest spell of selling. The sector had been up with a narrow gain all morning and into early afternoon trade, but it is now down to a 0.4% loss.

Of the major sectors, only utilities are in positive territory. That sector is clinging to a fractional gain, though. DJ30 -72.31 NASDAQ -16.40 SP500 -7.40 NASDAQ Adv/Vol/Dec 1000/1.36 bln/1591 NYSE Adv/Vol/Dec 1164/524 mln/1744

2:00 pm : Stocks have spent the entire session chopping along with modest losses in a relatively narrow range. The drift comes after stocks advanced to within about a point of the S&P 500's 100% gain level from its 2009 low, which was registered just beneath the 667 line. The hesitation on the part of buyers to extend the stock market's recent run into today's trade comes amid a mixed batch of data and an underwhelming dose of corporate news.DJ30 -47.11 NASDAQ -9.08 SP500 -4.35 NASDAQ Adv/Vol/Dec 1125/1.25 bln/1447 NYSE Adv/Vol/Dec 1307/475 mln/1574

1:30 pm : Oil prices had been up nicely in the early going, when they set a high of almost $86 per barrel, but they have since pulled back sharply to trade with a 0.8% loss at $84.15 per barrel. The drop in oil prices certainly hasn't helped stocks in the energy space, which is down 1.0% to trade as the worst performing sector.

Treasuries turned lower in recent trade. They had been up with slight gains for most of the session, but the benchmark 10-year Note is now down a couple of ticks so that its yield has lifted off of the 3.60% line. DJ30 -42.27 NASDAQ -8.31 SP500 -3.83 NASDAQ Adv/Vol/Dec 1140/1.17 bln/1415 NYSE Adv/Vol/Dec 1312/444 mln/1559

1:00 pm : A mixed bag of data and an absence of leadership have left all three major equity averages to chop along in negative territory all session.

Early morning participants first focused on a deluge of data from abroad. Markets there had a mixed reaction. Among the more widely anticipated reports, China's January CPI increased by 4.9% after a 4.6% increase for December, but its January PPI spiked a heady 6.6% after a 5.9% increase in the prior month. Japan reported an increase in industrial production for December and upgraded its economic outlook, but made no change to its key interest rate. Both France and Germany reported fourth quarter GDP growth of 0.4%. Broader eurozone GDP grew a tepid 0.3% in the fourth quarter, but the eurozone ZEW Survey for February improved to 29.5 from 25.4 in January.

As for domestic data, advance retail sales increased at a smaller-than-expected 0.3% in January. Sales less autos also increased at a smaller-than-expected 0.3%. Figures for the prior month were also revised downward.

The Empire Manufacturing Survey for February came in at 15.4, which is up from the 11.9 that was recorded for the prior month and essentially in step with what had been widely expected.

Other economic reports, including import price data, Treasury International Capital, and business inventories, were generally shrugged off.

Natural resource plays provided leadership in the prior session, but they've been hit with some profit taking today. More specifically, the energy sector is down 1.1% after it advanced 2.0% yesterday. Materials stocks have fallen to a 0.8% loss after climbing 1.0% in the prior session.

As a group, financials have managed to stay out of negative territory, but the sector hasn't really attracted enough support to make it a leader. Instead, it has spent the first part of the session plodding along with a narrow gain, which currently stands at just 0.1%.

Marsh McLennan (MMC 30.30, +1.43) has been standout in the financial sector, though. Better-than-expected earnings have the stock is on pace for its best single-session percentage gain in more than a year, so that it now trades at a two-year high.

In other corporate news, FedEx (FDX 95.82, +1.83) trimmed its forecast. Marriott (MAR 41.71, +0.71) reported an upside earnings surprise, but issued a mixed forecast.DJ30 -38.67 NASDAQ -7.76 SP500 -4.00 NASDAQ Adv/Vol/Dec 1169/1.09 bln/1370 NYSE Adv/Vol/Dec 1350/410 mln/1514

12:30 pm : The dollar has managed to make a move to the neutral line after trading with a loss all morning. Its early descent had the Dollar Index on pace for its first loss in four sessions. Just yesterday the greenback set a three-week high against competing currencies. The dollar is still down 0.6% this year, though.DJ30 -36.59 NASDAQ -7.54 SP500 -3.36 NASDAQ Adv/Vol/Dec 1054/1.00 bln/1439 NYSE Adv/Vol/Dec 1234/377 mln/1620

12:00 pm : The major equity averages remain mired in negative territory with modest losses. Their inability to make a move out of the red stems mostly from an absence of broad market leadership.

Volatility is up amid this session's selling effort, such that the Volatility Index (VIX) is up almost 4%. Of course, that comes after it registered a three-year low in the prior session. Contrarian investors frequently use the VIX as a barometer of bullishness or fearfulness because lower levels of volatility often bolsters confidence investors won't get whipsawed. DJ30 -51.39 NASDAQ -14.13 SP500 -5.63 NASDAQ Adv/Vol/Dec 1037/901 mln/1451 NYSE Adv/Vol/Dec 1151/335 mln/1675

11:30 am : Semiconductor stocks were strong in the prior session, but as a group they have fallen to a 1.1% loss today. That has undermined the broader tech sector and the Nasdaq Composite, both of which currently contend with 0.4% losses.

In contrast, large-cap tech issues like Yahoo! (YHOO 17.22, +0.33) and eBay (EBAY 34.31, +0.45) have been strong performers this session. Shares of YHOO now trade at their best levels in about 10 months. Meanwhile, shares of EBAY are within close reach of their two-year high. DJ30 -34.40 NASDAQ -10.05 SP500 -3.63 NASDAQ Adv/Vol/Dec 1022/789 mln/1425 NYSE Adv/Vol/Dec 1170/295 mln/1642

11:00 am : Failure to extend an early rebound encouraged sellers to redouble their efforts, but support continues to limit broad market losses. The action has left the stock market only modestly lower for the session.

Energy stocks have been hit with some stiff selling, however. The sector surged more than 2% in the prior session, but participants appear to be taking profits as they send the sector to a 1.2% loss in the face of higher oil prices, which were last quoted with a 0.6% gain at $85.35 per barrel.

Materials stocks were also strong yesterday, when they advanced to a 1.0% gain. They are down 0.7% today. DJ30 -51.54 NASDAQ -14.27 SP500 -5.38 NASDAQ Adv/Vol/Dec 906/652 mln/1503 NYSE Adv/Vol/Dec 1017/245 mln/1763

10:35 am : Weakness in the dollar index this morning is providing price support to commodities, however, half of the components in the CRB Commodity Index remains in negative territory.

Cotton, nickel, coffee and silver are the leading four performers in the CRB Index, while, on the downside, sugar, wheat and cocoa are the worst performers.

Cotton futures are showing strong gains after the Australian Bureau of Agriculture & Resource Economics & Sciences cut its cotton crop production estimate by 6.2% from December. Currently, cotton futures are 1.8% higher at $1.8941/lb.

In the energy markets, March crude oil has pulled back from session highs of $85.97 per barrel, but remains slightly higher at $84.96 per barrel, while March natural gas is back at the unchanged line at $3.93 per MMBtu.

Precious metals pulled back a short while ago after the dollar index found strength. April gold touched session highs of $1377.50 per ounce earlier this morning and is now up 0.5% at $1372.40 per ounce. March silver is 0.4% higher at $30.66 per ounce.DJ30 -67.20 NASDAQ -17.79 SP500 -7.60 NASDAQ Adv/Vol/Dec 857/453.6 mln/1465 NYSE Adv/Vol/Dec 932/174.9 mln/1783

10:05 am : Stocks are slowly working their way back from an opening slip. Financials are still out in front, although the sector trades with a gain of only 0.2%.

The dollar is down for the first time in several days. Its greatest loss has come against the British pound, which is up 0.7% to $1.615 following news that the CPI for the United Kingdom increased by 4.0% in January.

Business inventory data for December was just released. Inventories reportedly increased by 0.8% after a 0.4% increase in the prior month. The data has done little to move the broader market. DJ30 -36.29 NASDAQ -5.02 SP500 -2.75 NASDAQ Adv/Vol/Dec 903/280 mln/1275 NYSE Adv/Vol/Dec 1017/111 mln/1597

09:45 am : The major equity averages are on the slide in the first few minutes of trade. The move has been broad based, but financials have managed to find favor so that the sector is up 0.1% while every other sector is in the red.

Financials are currently being helped by diversified banks, up 0.4%, and diversified financial services, up 0.3%, after the group had a relatively quiet session yesterday. However, insurance brokers, up 2.8%, have been standouts in the sector following an upside earnings surprise from Marsh McLennan (MMC 30.49, +1.62). DJ30 -37.88 NASDAQ -7.36 SP500 -3.52

09:15 am : S&P futures vs fair value: -5.50. Nasdaq futures vs fair value: -7.40. Stock futures suggest a lower start is in order for today's trade. Weakness, though relatively modest, comes after the stock market put in a fresh two-year closing high that was about a point shy of a 100% gain from its 2009 low. A deluge of domestic and foreign data has failed to provide any boost needed to push past that point -- U.S. monthly retail sales increased less than expected, eurozone GDP was somewhat underwhelming, China's CPI climbed slightly less than had been feared initially, and Japan raised its economic outlook. Corporate news has been generally inconsequential as it relates to broad market morning trade. Still, it is worth noting that FedEx (FDX) cut its guidance in response to recent spells of rough weather. Marriott (MAR) posted an upside earnings surprise, but its outlook was rather mixed. Marsh & McLennan (MMC) also beat earnings expectations. Just released was news that NYSE Euronext (NYX) and Deutsche Boerse have confirmed an agreement to combine.

09:05 am : S&P futures vs fair value: -5.80. Nasdaq futures vs fair value: -7.90. Futures for the S&P 500 still trail fair value. Participants abroad continue to digest a deluge of data released overnight and this morning. Domestic data has been thrown into the mix, too; Net Treasury International Capital Flows for December came in at $48.2 billion, up from $35.6 billion in the prior month. So far, the response has been varied.

Germany's DAX is currently up 0.2% following news that its GDP grew by 0.4% in the fourth quarter after a 0.7% increase in third quarter GDP. Germany's February ZEW improved more modestly to 15.7 from 15.4 in the prior month. The latest round of trade has favored Deutsche Bank (DB) and BASF. Adidas and BMW have been out of favor, though. France's CAC is currently up 0.3%, although declining issues and advancing issues trade in near perfect balance. BNP Paribas and Societe Generale have been key sources of support. Danone has also shown strength following its official fiscal 2010 results. Meanwhile, LVMH and Moet Hennesey have been sources of weakness. France's GDP grew by 0.4% in the fourth quarter. That follows a 0.4% increase in third quarter GDP. Britain's FTSE is currently off by 0.2%. Barclays (BCS) is up big following the release of its financial results for the second half of fiscal 2010. Lloyds Group (LYG) has followed it to higher ground. In contrast to the strength exhibited by banking plays, metals and mining issues Rio Tinto (RIO), BHP Billiton (BHP), Anglo American, and Xstrata are all in the red. January consumer prices in the United Kingdom increased by 4.0% in January. That follows a 3.7% increase for December. In broader economic news, eurozone fourth quarter GDP increased by 0.3% after a 0.4% increase in the third quarter. The eurozone ZEW Survey for February improved to 29.5 from 25.4 in January.

Action in Asia was mixed overnight. The widely anticipated January CPI reading from China came showed a 4.9% increase after it had increased by 4.6% during December. Its January PPI increased at an even sharper pace of 6.6% after a 5.9% increase in the prior month. China's Shanghai Composite finished its session flat. It had already rallied in the prior session amid rumors that the inflation data would not show as sharp of an increase as what had been feared initially. China Petroleum (SNP) and PetroChina (PTR) were primary leaders in the latest round of trade, but their efforts were offset by weakness in heavyweights Industrial & Commercial Bank and China Life Insurance. Hong Kong's Hang Seng fell 1.0%. Banking plays like HSBC (HBC), China Construction Bank, and Industrial & Commercial Bank were weak and weighed considerably on broader action. Li & Fung put together an impressive 2.1% in the face of broad market weakness. Japan's Nikkei advanced 0.2% amid leadership from Softbank and Honda Motora (HMC), both of which helped offset weakness in Fast Retailing, Olympus, and Canon (CAJ). According to Japan's latest data, industrial production there increased by 3.3% in December. The country's central bank announced no change to its key interest rate, but upgraded the outlook on its economy.

08:35 am : S&P futures vs fair value: -5.30. Nasdaq futures vs fair value: -7.90. Stock futures continue to trail fair value by a modest margin following a flurry of economic data. The Advance Retail Sales report for January showed a 0.3% increase in overall retail sales and a 0.3% increase in sales less autos. Respective increases of 0.5% and 0.6% had been expected, on average, among economists polled by Briefing.com. Figures for the prior month were revised downward so that retail sales show an increase of 0.5% and sales less autos show an increase of 0.3%. Separately, the Empire Manufacturing Survey for February came in at 15.4, which is up from the 11.9 that was recorded for the prior month, but just shy of the 15.5 that had been widely expected. Import prices for January increased 1.5% month over month after a 1.2% monthly increase in the prior month.

08:05 am : S&P futures vs fair value: -4.10. Nasdaq futures vs fair value: -6.10. Stock futures are down a bit before the latest Empire Manufacturing report, import price data, and advance retail sales figures, all of which are due at the bottom of the our. Treasury International Capital flows follow at 9:00 AM ET, then business inventory data at 10:00 AM ET. Overseas markets are mixed following a deluge of data there. China reported that its January CPI increased by 4.9% after a 4.6% increase for December. Its January PPI increased at an even sharper pace of 6.6% after a 5.9% increase in the prior month. Japan posted a pickup in industrial production for December. Its central bank announced no change to its key interest rate, but upgraded the outlook on its economy. In Europe, both France and Germany reported fourth quarter GDP growth of 0.4%. Broader eurozone fourth quarter GDP grew by 0.3% in the fourth quarter. The eurozone ZEW Survey for February improved to 29.5 from 25.4 in January while Germany's February ZEW improved more modestly to 15.7 from 15.4 in the prior month. Overseas trade has been generally mixed.

06:41 am : [BRIEFING.COM] S&P futures vs fair value: -2.30. Nasdaq futures vs fair value: -1.60.

06:41 am : Nikkei...10746.67...+21.10...+0.20%. Hang Seng...22899.78...-221.30...-1.00%.

06:41 am : FTSE...6058.64...-1.50...0.00. DAX...7411.59...+15.00...+0.20%.

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
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