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 Post subject: March 1st Tuesday 2011 Emini TF ($TF_F) points +2.50
PostPosted: Thu Mar 03, 2011 7:01 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:
I had multiple ISP disconnection problems prior to the open and then again btween 0913am - 1045am est. Simply, I missed a few good trade opportunities and to reduce my risk exposure along with maintaining discipline...I lowered my position size for the few trades I did within the remainder of the trading session. 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: +2.50 points or $250.00 dollars in the Russell 2000 Emini TF ($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=88&t=769. 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=135&t=965

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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 Drop More Than 1% As Oil Spikes Near $100
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click on the above image to view today's price action of key markets

By Hibah Yousuf, staff reporter
March 1, 2011: 5:02 PM ET

NEW YORK (CNNMoney) -- U.S. stocks tumbled Tuesday, with all three major indexes down more than 1%, as oil prices spiked to nearly $100 a barrel.

The Dow Jones industrial average (INDU) sank 168 points, or 1.4%, with Alcoa (AA, Fortune 500) and Caterpillar (CAT, Fortune 500) leading the decline. The S&P 500 (SPX) fell 21 points, or 1.6%, and the Nasdaq (COMP) lost 45 points, or 1.6%.

The sell-off came as oil prices for April delivery continued to head higher, climbing $2.66 to settle at $99.63 a barrel amid ongoing uprisings in Libya and the Middle East. In electronic trading, crude prices topped $100 a barrel Tuesday afternoon, after crossing that mark last week for the first time since 2008.

As crude climbed, gas prices rose for a seventh straight day. Meanwhile, gold prices surged $21.30, or 1.5%, to settle at a record high of $1,431.20 an ounce.

Tensions in the Middle East and North Africa will continue to cast a shadow on the market, said Matt King, chief investment officer at Bell Investment Advisors.

Investors also tuned into Federal Reserve Chairman Ben Bernanke's testimony on Capitol Hill. Bernanke warned that a sustained rise in oil prices could pose a danger to economic growth.

"Bernanke's comments reconfirm what the market's fear has been since the Libyan situation started," King said. "Bernanke hasn't been too concerned about inflation, especially in relation to high commodity prices, so this is the first time he's outlining a potential scenario with inflation."

* Stocks show no fear

Markets also came under pressure after the Securities and Exchange Commission filed a lawsuit against former Goldman Sachs (GS, Fortune 500) director Rajat Gupta for insider trading.

"It's just another hit to investor confidence, and it's scary to think about potential repercussions," said Dave Rovelli, managing director of U.S. equity trading at Canaccord Adams. "All this insider trading at hedge funds can make individual investors hesitant to come back to the market."

Investors are also looking ahead to the government's monthly payroll report on Friday, which will reveal how many jobs were created in February.

Despite a slight step back last week, stocks closed out February on an upbeat note -- posting their third-straight month of gains. Overall, all three major indexes were up nearly 3% during the month, and have risen more than 5% since the beginning of the year.

Economy: The Institute for Supply Management's manufacturing index rose for a 19th consecutive month, reaching 61.4% -- a level last seen in May 2004. The level signals continuing expansion in the sector.

Companies: General Motors (GM) said total U.S. sales rose 46% last month on an annual basis, while Ford's sales rose 14%. Shares of both U.S. automakers fell about 2%.

Shares of Japanese automaker Toyota (TM) slipped 0.5% after the company said sales rose 42% last month from a year earlier, when monthly sales fell 8.7% on recall problems.

Shares of Las Vegas Sands (LVS, Fortune 500) dropped 6.3% after the casino operator said that it has received a subpoena from the SEC requesting documents related to the Foreign Corrupt Practices Act. The company said it is also being investigated by the Department of Justice.

Shares of J. Crew Group (JCG) rose 1% after stockholders agreed to adopt the previously announced merger agreement with Chinos, an affiliate of private equity firms TPG Capital and Leonard Green & Partners.

World markets: European stocks closed lower. Britain's FTSE 100 lost 0.8%, the DAX in Germany fell 0.5% and France's CAC 40 declined by 0.7%.

Asian markets ended higher. The Shanghai Composite rose 0.5%, the Hang Seng in Hong Kong added 0.2% and Japan's Nikkei jumped 1.2%.

Currencies and commodities: The dollar rose against the euro, was weaker versus the British pound and firmer versus the Japanese yen.

Bonds: The price on the benchmark 10-year U.S. Treasury rose, pushing the yield down to 3.41% from 3.43% late Monday.

Image

Image Yahoo! Finance - Market Update

4:30 pm : A spike in oil prices amid percolating geopolitical tension in the Middle East prompted participants to pare their positions. Their steady selling effort left stocks to settle at session lows with sharp losses.

The tone of trade in the early going was actually positive, but buyers began to lose interest as Europe's major bourses drifted lower, even though Germany, France, the United Kingdom, and the broader eurozone all posted solid PMI Manufacturing data. A jump in oil prices before the open of pit trade also undermined early strength.

Oil prices rallied 2.7% to settle at $99.63 per barrel, a two-year closing high. Even after the close oil prices flirted with $100 per barrel in electronic trade. Oil's strength started with morning reports that Saudi Arabia sent tanks into neighboring Bahrain, where social unrest continues to be of concern in a region largely responsible for the world's oil supply. Indicative of the tensions surrounding the region, Saudi Arabia's stock market slumped 7%.

As oil prices pushed higher, participants pressed stocks lower, eventually spurring a broad-based sell-off that left more than 90% of the S&P 500 in the red. That took the Volatility Index up close to 15%.

Precious metals rallied as many sought safety. Silver settled with a 2.0% gain at $34.41 per ounce and gold gained 1.4% to close at $1431.20 per ounce. Silver extended its climb after the close of pit trade so that the continuous contract hit a new 30-year high above $34.60 per ounce. Gold prices hit a record high above $1434 per ounce after pit trade ended.

Although precious metals were strong, materials stocks dropped 2.3% for the worst loss of any major sector. Financials weren't far behind; they dropped 2.2%. Fifth Third (FITB 13.95, -0.65) was one of the financial sector's weakest performers following news that the SEC has subpoenaed the regional bank in connection with certain commercial loans.

The SEC also sent a subpoena to Las Vegas Sands (LVS 43.70, -2.94) in regard to compliance with the Foreign Corrupt Practices Act. CNBC reported that the SEC has filed suit against former Goldman Sachs (GS 161.31, -2.47) Board Member Rajat Gupta regarding allegations of insider trading. Gupta reportedly will step down from the Board of Procter & Gamble (PG 62.74, -0.31).

Economic data did nothing to stymie selling efforts today. The ISM Manufacturing Index for February hit a multi-year high of 61.4 to exceed the Briefing.com consensus of 60.5. However, construction spending for January fell 0.7%, which is a bit steeper than the 0.6% decline that had been broadly anticipated.

Fed Chairman Bernanke delivered his semi-annual monetary policy report to the Senate Banking Committee this morning. He was optimistic of the economic outlook, but made no new revelations.

Advancing Sectors: (None)
Declining Sectors: Materials (-2.3%), Industrials (-2.2%), Financial (-2.2%), Consumer Discretionary (-1.8%), Tech (-1.7%), Telecom (-1.7%), Energy (-1.5%), Utilities (-1.0%), Health Care (-0.7%), Consumer Staples (-0.5%)DJ30 -168.32 NASDAQ -44.86 NQ100 -1.5% R2K -2.0% SP400 -1.7% SP500 -20.89 NASDAQ Adv/Vol/Dec 618/2.22 bln/2032 NYSE Adv/Vol/Dec 724/1.18 bln/2298

3:30 pm : It was a very eventful session for commodities, as events in the Middle East sent jitters through select commodity markets, including the hypersensitive crude oil market.

Precious metals rallied for 1.8% today, led by a 2% rally in May silver, which closed at $34.41 per ounce. April gold futures gained 1.4% to close at $1431.20 per ounce. Both metals rallied on the flight to safety. Gold traded to a fresh all-time high at $1433.40, in after hours trade, besting its Dec 7 highs by $2.30. Silver traded to a new ~30 yr high at $33.82.

April WTI crude oil rallied for 2.7% to close at $99.63 per barrel, its highest close in ~2.5 yrs. Concerns about the unrest in the Middle East and further potential supply disruptions sent the WTI contract back toward $100 in the final minutes of trade. April natural gas shed 3.9% to close at $3.88 per MMBtu. Prices fell as bearish fundamentals continue to undermine any upward momentum. DJ30 -144.71 NASDAQ -42.40 SP500 -17.79 NASDAQ Adv/Vol/Dec 566/1.7 bln/2071 NYSE Adv/Vol/Dec 736/796.4 mln/2256

3:00 pm : This session's selling effort has taken more than 90% of the names in the S&P 500 to a loss. Although stocks are still down sharply, they have started to make a slight turn up from session lows.

The dollar has caught a bid after drifting along near the neutral line during morning and early afternoon trade. It now leads a basket of competing currencies by 0.3%. DJ30 -144.78 NASDAQ -46.06 SP500 -18.42 NASDAQ Adv/Vol/Dec 584/1.57 bln/2033 NYSE Adv/Vol/Dec 746/722 mln/2233

2:30 pm : This afternoon's steady descent continues to take stocks deeper into negative territory. The S&P 500 is still well above last week's low near 1294, though.

Amid the intensified selling, volatility has heated up. As such, the Volatility Index, often dubbed the Fear Gauge, is now up almost 10%.

Widespread weakness among stocks and increased volatility has taken Treasuries into higher ground so that the benchmark 10-year Note is now up about five ticks. The yield on the Note is now just above 3.40%. DJ30 -144.18 NASDAQ -46.22 SP500 -18.81 NASDAQ Adv/Vol/Dec 656/1.44 bln/1945 NYSE Adv/Vol/Dec 808/660 mln/2158

2:00 pm : Stocks continue to trade with weakness. Broad pressure has even kept many automakers in the red, despite strong monthly sales results. Ford Motor (F 14.68, -0.37) said that its U.S. retail sales for February increased by 23%. Chrysler reported a 13% annual increase in February sales. General Motors (GM 32.64, -0.77) reported a 49% year-over-year surge in February auto sales. Nissan Motor (NSANY 20.62, +0.22) reported U.S. sales for February increased almost 32% year over year.DJ30 -121.89 NASDAQ -36.94 SP500 -15.24 NASDAQ Adv/Vol/Dec 695/1.31 bln/1879 NYSE Adv/Vol/Dec 856/589 mln/2089

1:30 pm : Stocks have slipped to a new session low. The effort has been broad based and left all 10 major sectors to trade with a loss.

Of the major sectors, financials and industrials have been hit the hardest. Those two sectors are down 1.7% each. Fifth Third (FITB 13.86, -0.74) has been one of the heaviest burdens on the financial sector, while Textron (TXT 26.18, -0.89) is atop the list of declining issues in the industrial sector. Fifth Third disclosed that the SEC has subpoenaed the company in connection with certain commercial loans.

At the other end of things, consumer staples stocks have limited their collective loss to just 0.1%. Lorillard (LO 78.30, +1.53) is a leader in that group. According to the Tobacco Products Scientific Advisory Committee, menthol cigarettes do not increase health risks. DJ30 -99.41 NASDAQ -32.17 SP500 -13.51 NASDAQ Adv/Vol/Dec 752/1.21 bln/1826 NYSE Adv/Vol/Dec 917/535 mln/2012

1:05 pm : Trade today started on a modestly positive note, but the mood among participants has turned negative amid a spike in oil prices.

Early participants had looked to add to the prior session's varied gains, but their conviction was challenged as oil prices pushed higher in response to concerns about increased geopolitical tensions related to reports that Saudi Arabia sent tanks into neighboring Bahrain, where there is continued social unrest. Oil prices pushed as high as $99.18 per barrel, but have since pulled back a bit to trade at $98.75 per barrel with a 1.8% gain.

Oil's push higher has triggered a rather concerted selling effort, which has left the three major equity averages to trade at session lows with sizable losses.

Higher oil prices have been especially problematic for airline stocks and transportation stocks. Both groups are down 2%.

Even the energy sector has been imbued by broader weakness. The sector is currently down 0.8%.

Such weakness has caused the Volatility Index to climb more than 6%. A few major European countries posted solid manufacturing data early this morning. The latest domestic manufacturing data featured a stronger-than-expected February ISM Manufacturing Index of 61.4, which is the highest reading since 2004.

Construction spending for January fell 0.7%, though. It had been broadly expected to drop 0.6%.

Remarks from Fed Chairman Bernanke in his semi-annual monetary policy to the Senate Banking Committee haven't had any real impact on trade. DJ30 -88.78 NASDAQ -29.53 SP500 -11.97 NASDAQ Adv/Vol/Dec 795/1.12 bln/1768 NYSE Adv/Vol/Dec 956/490 mln/1941

12:30 pm : The S&P 500 has offered technical support at the 1315 line, which is where stocks continue to sit. Amid the increasingly widespread weakness, eight of the 10 major sectors are in the red -- five of them are down by more than 1%. Consumer staples (+0.2%) and health care (unch.) are the only two sectors not in the red.

Treasuries haven't made much of a move in response to the stock market's slip. Instead, the benchmark 10-year Note is still down with a slight loss.

However, precious metals have attracted safety seekers. In turn, gold prices are up 1.3% to $1428 per ounce while silver prices are up 2.0% to $34.48 per ounce. DJ30 -82.65 NASDAQ -29.00 SP500 -11.84 NASDAQ Adv/Vol/Dec 761/1.00 bln/1763 NYSE Adv/Vol/Dec 943/440 mln/1951

12:00 pm : Sellers have redoubled their efforts in recent trade. All three of the major equity averages are now at session lows. The move lower coincides with a jump in oil prices to $99 per barrel, which translates to a 2.1% gain and makes for a fresh session high.

As an aside, CNBC has reported that the SEC has filed suit against former Goldman Sachs (GS 162.53, -1.25) Board Member Rajat Gupta regarding allegations of insider trading. It was also disclosed today that Las Vegas Sands (LVS 43.70, -2.94) was subpoenaed by the SEC in regard to compliance with the Foreign Corrupt Practices Act. DJ30 -80.94 NASDAQ -26.25 SP500 -10.85 NASDAQ Adv/Vol/Dec 901/883 mln/1592 NYSE Adv/Vol/Dec 1101/382 mln/1777

11:30 am : Oil and gas drillers are among this year's best performers. As a group they are up more than 22% year to date. Today the group is lagging, however; they are collectively down 0.5% as the broader market reacts negatively to a 1.5% jump in oil prices to $98.50 per barrel. Higher oil prices had helped prop up energy stocks in the early going.DJ30 -38.60 NASDAQ -14.39 SP500 -6.14 NASDAQ Adv/Vol/Dec 1054/743 mln/1393 NYSE Adv/Vol/Dec 1311/323 mln/1546

11:00 am : Increased selling pressure recently took all three major equity averages into negative territory, but stocks are trying to retrace the move. They have yet to return to positive ground, however.

During the first few minutes of trade all 10 of the major sectors were in positive territory. Now, only consumer staples (+0.5%), health care (+0.3%), and utilities (+0.3%) make up the only major sectors that currently sport any kind of a gain.

The recent fit of weakness has caused volatility to pick up, such that the Volatility Index is presently up almost 5%. DJ30 -15.55 NASDAQ -8.74 SP500 -3.27 NASDAQ Adv/Vol/Dec 829/594 mln/1589 NYSE Adv/Vol/Dec 1099/263 mln/1732

10:30 am : The Dollar Index has moved higher in recent trade, which has added selling pressure on select commodities. Currently, the CRB Commodity Index remains around 0.5% higher.

Cotton futures rose limit-up in overnight trade, primarily due to strong China demand. May cotton futures are currently up 7 cents (or 3.7%), the exchange limit, at $1.9823/lb. Soft commodities are mixed this morning with coffee +0.7%, cocoa +0.2%, orange juice -0.1% and sugar -2.0%. Overnight, the grains complex was also mixed as soybeans rose +0.4%, corn +0.03% and wheat -0.7%.

In the energy markets, natural gas is the worst performer in the CRB Index after gaining 4.3% over the past two session. Natural gas with just slightly lower before selling off sharply about 30 minutes after pit trading began. It fell to new session lows of $3.91 per MMBtu and remains near those lows, currently down 3% at $3.92 per MMBtu.

However, the rest of the energy complex showing solid gains this morning. April crude oil has been in positive territory for the majority of today's session and pushed to new session highs of $98.77 per barrel a few minutes before pit trading began. Currently, crude is up 1.5% at $98.39 per barrel. April RBOB gasoline is +1.7%, while April heating oil is +1.5%.

Precious metals are also higher with silver leading with over 1% in gains. Both gold and silver have trended steadily higher all session and are just below session highs. April gold hit $1424.50 per ounce in recent trade and is currently up 0.9% at $1422.70 per ounce. May silver rose to new session highs of $34.50 per ounce and is now 1.4% higher at $34.30 per ounce.DJ30 -35.38 NASDAQ -16.51 SP500 -5.47 NASDAQ Adv/Vol/Dec 843/407.3 mln/1521 NYSE Adv/Vol/Dec 1146/188.2 mln/1628

10:05 am : Stocks are mixed after an early slip. The latest round of headlines has had little immediate impact on trade.

The ISM Manufacturing Index for February came in at 61.4, which is not only better than the 60.5 that had been expected, on average, among economists polled by Briefing.com, but also the highest reading since 2004.

Construction spending for January fell 0.7%, which is a bit steeper than the 0.6% decline that had been broadly anticipated.

Prepared remarks from Fed Chairman Bernanke for his semi-annual monetary report to the Senate Banking Committee have just hit newswires.

Advancing Sectors: Consumer Staples (+0.7%), Energy (+0.6%), Utilities (+0.4%), Health Care (+0.3%)
Declining Sectors: Financial (-0.5%), Consumer Discretionary (-0.3%), Telecom (-0.3%), Materials (-0.3%), Industrials (-0.3%), Tech (-0.2%),DJ30 +19.83 NASDAQ -0.08 SP500 +1.34 NASDAQ Adv/Vol/Dec 965/202 mln/1290 NYSE Adv/Vol/Dec 1374/108 mln/1286

09:45 am : The major equity averages are up with meager gains in the early going. Selling interest has intensified with oil's latest upward push, which has taken the commodity to a 1.6% gain at $98.50 per barrel.

Higher oil prices have helped energy stocks, however. The sector is up 0.6%, which is second only to the consumer staples sector's 0.7% gain.

With oil prices up, airline stocks have fallen to a sharp loss. The group is collectively down 1.4%. In a similar vein, the Dow Jones Transportation Index is down 0.8%. DJ30 +8.17 NASDAQ -3.86 SP500 +0.57

09:15 am : S&P futures vs fair value: +5.30. Nasdaq futures vs fair value: +10.70. A jump in oil prices toward $98 per barrel and a downward drift among Europe's major bourses in the wake of some decent data have undermined early buying interest, but stock futures still point to a positive start to today's session. Corporate news has been less of a broad market concern than Fed Chairman Bernanke's semi-annual monetary policy report to the Senate Banking Committee at 10:00 AM ET, although Bernanke is unlikely to reveal any new outlook or stance on macro conditions. Also on the way are construction spending figures for January and the ISM Manufacturing Index for February, both of which are due at 10:00 AM ET.

09:05 am : S&P futures vs fair value: +4.60. Nasdaq futures vs fair value: +10.00. Futures for the S&P 500 continue to hold on to a modest lead over fair value. Meanwhile, Germany's DAX is currently up 0.3% after pulling back from a gain of 1.2%. BMW, Linde AG, and Adidas continue to provide support, but Man SE and Siemens (SI) have weighed heavily on trade. Germany's final PMI Manufacturing Index for February came in at 62.7, up from 62.6 in the preliminary reading and 60.5 in the prior month. France's CAC is currently up just 0.1% after it had been up as much as 0.9%. Total (TOT), Societe Generale, and BNP Paribas have been offsetting strength in Sanofi-Aventis (SNY), LVMH Moet Hennessey, and ArcelorMittal (MT). France's February PMI Manufacturing Index improved in the final reading to 55.7 from 55.3 in the preliminary reading and 54.9 in the prior month. Britain's FTSE is now off by 0.2% after it had been up as much as 0.8%. HSBC (HBC) continues to come under pressure following its disappointing earnings report yesterday. BG Group and BP Plc (BP) have also weighed on trade today. Vodafone (VOD), Rio Tinto (RIO), and BHP Billiton (BHP) have provided support, though. The February PMI Manufacturing Index for the United Kingdom came in at 61.5, just as it did in January. The final February PMI Manufacturing Index for the broader eurozone came in unrevised at 59.0, but up from the 57.3 posted for the prior month.

In Asia, Japan's Nikkei advanced 1.2% on the back of broad strength. Fanuc Corp, Fast Retailing, and Honda Motor (HMC) were primary leaders. Sumitomo Realty, Trend Micro, and Fujitsu Ltd. were laggards. According to data, Japan's jobless rate held steady at 4.9% in January. Mainland China's Shanghai Composite closed with a 0.5% gain. China Petroleum (SNP) and PetroChina (PTR) were standouts for their leadership. China Oilfield faltered, though. China reported that its PMI Manufacturing Index for February slipped to 52.2 from 52.9 in January. Hong Kong's Hang Seng staged a 0.3% gain amid broad support. China Mobile, Cheung Kong, and CNOOC (CEO) led the advance, but HSBC suffered its worst single-session loss on the Hang Seng in almost one year.

08:30 am : S&P futures vs fair value: +4.20. Nasdaq futures vs fair value: +9.70. Stock futures are trying to reclaim some of their earlier gains, but the move remains challenged by higher oil futures prices, which are still up a strong 0.7% at $97.60 per barrel. Precious metals are also in strong shape this morning; gold was last quoted with a 0.9% gain at $1422 per ounce while silver is up an even more impressive 1.7% to $34.39 per ounce. Strength in the aformentioned commodities follows concerns about social and geopolitical tensions of the Middle East spreading into Saudi Arabia, which has reportedly sent tanks into neighboring Bahrain. Meanwhile, the dollar is mired near the neutral line.

08:05 am : S&P futures vs fair value: +4.10. Nasdaq futures vs fair value: +8.70. Stock futures are currently up only modestly over fair value. Strength has waned as Europe's major bourses drift off of their session highs following the release of some generally solid manufacturing readings. A jump in oil prices to a 0.9% gain at $97.85 per barrel has also added selling pressure. The upturn in oil prices coincides with word of increased geopolitical tension in the Middle East -- specifically that Saudi Arabia is sending tanks to Bahrain. Saudi Arabia's benchmark index tumbled 7% in its latest round of trade. There isn't much in the way of meaningful corporate news this morning, but construction spending data for January is due at 10:00 AM ET. The ISM Manufacturing figure for February is also due then. Fed Chairman Bernanke is also scheduled to begin his semi-annual monetary policy report to the Senate Banking Committee at 10:00 AM ET.

07:53 am : [BRIEFING.COM] S&P futures vs fair value: +3.50. Nasdaq futures vs fair value: +8.00.

07:53 am : Nikkei...10754.03...+129.90...+1.20%. Hang Seng...23396.42...+58.40...+0.30%.

07:53 am : FTSE...5983.62...-10.40...-0.20%. DAX...7294.02...+21.60...+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 Trading (no technical indicators)
Image@ http://twitter.com/wrbtrader and http://stocktwits.com/wrbtrader

Phone: +1.708.572.4885
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