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 Post subject: May 31st Tuesday 2011 Emini TF ($TF_F) points +16.60
PostPosted: Tue May 31, 2011 3:06 pm 
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Joined: Sat Jan 10, 2009 1:06 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:
053111-wrbtrader-PnL-Blotter-Profit-1660.png
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click on the above image to view today's trading summary

Trade Performance for Today: +16.60 points or $1660.00 dollars in the Russell 2000 Emini TF ($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=90&t=873.

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=138&t=1058

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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 Video) - U.S. Stocks Gain Amid Speculation About Greece Bailout

May 31 (Bloomberg) -- Bloomberg's Deborah Kostroun reports on the performance of the U.S. equity market today. U.S. stocks advanced, trimming the biggest monthly drop since August for the Standard & Poor's 500 Index, amid speculation about additional aid for Greece.

Image CNNMoney.com - Stocks End Ugly Month On A High Note
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click on the above image to view today's price action of key markets

By Hibah Yousuf
May 31, 2011: 4:53 PM ET

NEW YORK (CNNMoney) -- The rally in U.S. stocks regained momentum Tuesday afternoon, but the day's gains weren't enough to lift the market out of the red for the month.

In fact, the market's performance in May was the worst since August 2010. The Dow tumbled nearly 2% for the month, while the S&P 500 and the Nasdaq lost 1.3%.

May has been a rough month for the stock market as investors wrestle with signs of a slower recovery.

On Tuesday, investors sifted through yet another batch of weak U.S. economic data that showed a decline in home prices, regional manufacturing activity and consumer confidence.

* Home prices continue downward spiral - StockTwits

But optimism about the possible bailout for Greece, sparked by a Wall Street Journal article, gave stocks a boost.

The Dow Jones industrial average (INDU) surged 128 points, or 1%. All but one of the Dow's components posted gains, with Pfizer (PFE, Fortune 500), Cisco (CSCO, Fortune 500) and Alcoa (AA, Fortune 500) leading the advance.

The S&P 500 (SPX) added 14 points, or 1.1%, and the Nasdaq Composite (COMP) gained 38 points, or 1.4%.

The Journal reported that Germany is shifting its stance to consider lending more money to debt-ridden Greece. Previously, German officials had said that private investors in Greece should share some of the burden in any new bailout, but according to the Journal, Germany is now considering lending additional assistance -- even without private bondholders getting involved.

"The market is battling between growing fears that the U.S. economy is headed toward another downturn, and some progress on the European debt problems," said Peter Tuz, president at Chase Investment Counsel.

* How to invest if you've lost your job

U.S. investors are also gearing up for the government's highly anticipated monthly jobs report on Friday.

CNNMoney's survey of economists forecast that the U.S. economy created 178,000 jobs in May, down from 244,000 jobs a month earlier. The unemployment rate is expected to tick down to 8.9% from 9%.

U.S. stocks rose modestly last Friday, with trading volume light as traders positioned themselves for a long holiday weekend. The stock market was closed Monday for Memorial Day.

Economy: According to the closely watched S&P Case-Shiller Index, home prices recently fell to their lowest levels since the housing bubble burst. Prices tumbled 4.2% in the first quarter, sending home prices back to levels not seen since mid-2002.

The Chicago Purchasing Managers index fell more than expected to 56.6 in May, from 67.6 the previous month. Economists were expecting the figure to slip to 62.5.

The Conference Board's consumer sentiment index declined to 60.8 in May, from 65.4 in April. Economists were expecting consumer confidence to rise to 66.3.

Companies: Shares of Nokia (NOK) tumbled 14%, after Nokia issued a sales warning that the second quarter will be lower than previously expected. The cell phone maker, which has been losing market share to Apple (AAPL, Fortune 500) and Google (GOOG, Fortune 500), also lowered its full-year outlook.

Shares of Apple rose 3% after the company said that CEO Steve Jobs, who is on medical leave, will introduce the iCloud service during the Worldwide Developers Conference keynote on June 6 in San Francisco.

* World markets cheer Greek, Japanese news

World markets: European stocks climbed Tuesday. Britain's FTSE 100 rose 0.9%, the DAX in Germany surged 1.9%, and France's CAC 40 added 1.6%.

Asian markets ended sharply higher. The Shanghai Composite rose 1.4%, the Hang Seng in Hong Kong gained 2.2% and Japan's Nikkei added 2%.

Early Tuesday, Moody's placed 12 Japanese regional governments on review for a possible downgrade.

* Video - BullHorn: Who's riding the commodity surge?

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

Oil for July delivery rose $2.11, or 2.1%, to settle at $102.70 a barrel.

Gold futures for August delivery slipped 50 cents to settle at $1,536.80 an ounce.

Bonds: The price on the benchmark 10-year U.S. Treasury rose, pushing the yield down to 3.05% from 3.06% late Friday.

Image

Image Yahoo! Finance - Market Update

4:10 pm : The major market averages ended with solid gains, finishing at their best levels of the session. Early strength was attributed to news of Germany leading a second bailout for Greece. Overseas strength continued into the U.S. session with markets opening higher by more than 1.0%. Shares were knocked off their opening levels after disappointing Chicago PMI, and Consumer Confidence numbers were released, but rallied to their best levels in the final 30 minutes of trading.

Energy stocks were among the early leaders, but struggled over the course of the session before rallying into the close. As a whole, the S&P 500 Energy Index gained 1.0% to finish on pace with the broader market. Massey Energy (MEE 65.98, +1.96) was one of the best performing stocks in the space all session long.

Financials also saw a quick start, and finished on par with the S&P 500. Franklin Resources (BEN 129.60, +2.84) outperformed the sector after receiving a broker upgrade. Goldman Sachs (GS 140.66, +2.07) was one of the best performing stocks in the sector early on after receiving a buy recommendation, but faded as the day wore on. Shares of American International Group (AIG 28.50, -0.38) continue to underperform following last week's re-IPO.

Conglomerate Siemens (SI 133.85, +5.66) added 4.4% after Germany announced it would cease the use of all nuclear energy by 2022. The company saw gains because the news was beneficial to its wind turbine business. Alternative energy names such as First Solar (FSLR 124.25, +2.88) also traded higher.

Industrials were among the best performing sectors today thanks in part to a 4.2% gain by General Dynamics (GD 74.24, +2.98). The stock saw gains in pre-market trade after receiving a broker upgrade, and then moved to its best levels of the day after the company announced it had won a $744 mln contract to build landing strips for the U.S. Navy. An option can increase the contract value to $1.3 billion.

Treasuries spent the overnight session holding small losses, but turned positive following the disappointing S&P/Case Shiller 20-city Index reading, and continued moving higher after poor Chicago PMI and Consumer Confidence numbers. Buying pushed the 10-yr yield to 3.04%, its lowest level since early December while the 2-10-yr spread tightened to almost 258.

The dollar index spent the entire session in negative territory, trading in a tight range between 74.60 and 74.70 for most of the day. After hitting a session high of 1.4424 the euro will end the day with a gain of close to 100 pips at 1.4390. Dollar/yen saw some heavy selling off this morning's highs, but regained most of the sell off, ending higher by 55 pips near 81.50.

Economic data is heavy tomorrow with the MBA Mortgage Index (7 a.m. ET), Challenger Job Cuts (7:30 a.m. ET), ADP Employment Change (8:15 a.m. ET), ISM Index (10 a.m. ET), Construction Spending (10 a.m. ET), and Auto/Truck Sales (3 p.m. ET).DJ30 +128.21 NASDAQ +38.44 SP500 +14.10 NASDAQ Adv/Vol/Dec 1817/1.79 bln/785 NYSE Adv/Vol/Dec 2269/698.7 mln/755

3:30 pm : Weakness in the dollar, underpinned by reports of a new bailout plan for Greece, supported select commodities today. July crude oil surged for 2.1% to close at $102.70 per barrel. Also helping crude oil higher was news that the Keystone pipeline, which carries crude oil from Alberta, Canada to Cushing, Oklahoma, was shut in due to a broken pipe fitting at a Kansas pump station July natural gas finished higher by 2.6% to $4.65 per MMBtu. Warm weather across the country supported today's rally.

Despite sizeable weakness in the dollar today, August gold, which settled lower by 0.1% to $1535.60 per ounce, prices ended in negative territory. Gold sold off from session highs, at $1541.90 in mid-morning trade and was never able to recover. Jul silver ended up 1.1% to $38.29 per ounce. It sold off, like gold, heading into afternoon trade. It was able to, however, retrace most of that sell off to finish in positive territory. DJ30 +85.60 NASDAQ +26.13 SP500 +9.29 NASDAQ Adv/Vol/Dec 1723/1.5 bln/873 NYSE Adv/Vol/Dec 2081/588.1 mln/903

3:00 pm : The post-data rally in Treasuries made another leg higher in recent trade before paring some of its gains. The 10-year yield touched 3.04%, its lowest level since early December. The rally is across the board as the 2-10-year spread continues to hold near 258 bps. Treasuries are rallying with equities, which bottomed around 12:30 p.m. ET, and are slowly moving back toward opening highs. Currencies have shown little direction thus far in afternoon trade as the euro remains stuck near 1.4375.DJ30 +71.22 NASDAQ +25.54 SP500 +7.97 NASDAQ Adv/Vol/Dec 1703/1.33 bln/881 NYSE Adv/Vol/Dec 2090/500.1 mln/881

2:30 pm : U.S. equities continue to hold gains in what has amounted to a relatively uneventful session. Strength in technology has the Nasdaq holding a gain of 0.9% while the Dow and S&P trail with 0.6% gains.

Conglomerate Siemens (SI 133.36, +5.17) is trading higher by 4.1% on word that Germany will discontinue the use of nuclear energy by 2022. The co is a large producer of wind turbines, and is seeing gains on the heels of that announcement. First Solar (FSLR 123.22, +1.85) and other alternative energy plays are also seeing strength attributable to the news.DJ30 +75.99 NASDAQ +25.09 SP500 +8.34 NASDAQ Adv/Vol/Dec 1716/1.23 bln/861 NYSE Adv/Vol/Dec 2077/458.4 mln/876

2:00 pm : Stocks have climbed off their lowest levels of the session, and have broken through mid-morning resistance levels. The pace is being set by a 0.9% gain in the Nasdaq while the Dow and S&P lag with 0.7% gains.

The S&P 500 Industrials Index is underperforming the broader markets, but still posting a gain of 0.5%. General Dynamics (GD 74.47, +3.21) is the top performing stock in the S&P 500 as it trades higher by 4.5%. Shares received a bid in pre-market trade following a broker upgrade, and then moved to their best levels of the session following word that the company received a $744 million contract from the U.S. Navy, with an option upping the contract to $1.3 billion.DJ30 +77.96 NASDAQ +24.36 SP500 +8.41 NASDAQ Adv/Vol/Dec 1658/1.14 bln/910 NYSE Adv/Vol/Dec 2016/426.9 mln/932

1:30 pm : Stocks continue to hold onto gains as the day progresses, with relatively quiet mid-day trade. Today's economic data was largely a disappointment, with a weaker-than-expected S&P/Case-Shiller 20-city Composite Index reading, Chicago PMI and Consumer Confidence. While today's data helped the market pare a portion of its gains, it is just the start of a busy week in terms of economic data, with several important pieces of employment data due throughout the remainder of the week. For example, tomorrow morning's ADP Employment Change figure will be viewed as a precursor to Friday's monthly Employment Report for May. Thursday, Weekly Initial Jobless Claims data will be in focus. In addition to the employment readings due over the course of the week, the market will also digest May ISM and Construction Spending data tomorrow, along with April Factor Orders and Productivity data on Thursday. ISM Services data is also due out on Friday.

Barring any major developments out of Europe, this week's economic data is likely to be the primary volatility catalyst for market, with the potential to move the market back to recent highs or lows.DJ30 +63.24 NASDAQ +19.26 SP500 +6.79 NASDAQ Adv/Vol/Dec 1629/1.06 bln/910 NYSE Adv/Vol/Dec 1979/401.3 mln/960

12:55 pm : The major market averages saw a strong open on reports that Germany would lead the next bailout package for Greece. All three of the major averages opened higher by close to 1.0% on the news, but were quickly knocked off their best levels following three disappointing data sets.

The latest S&P/Case-Shiller 20-city Composite Index showed home prices fell 3.6% in March to a multi-year low. That compares with expectations of a 3.4% slide, and a 3.33% decline for the previous month. Also out were Chicago PMI that came in at 56.6, missing its 62.5 expectations, and Consumer Confidence which slipped to 60.8 from its previous reading of 66.0.

After outperforming early in the session the S&P 500 Energy Index has slipped back to the flat line. Cabot Oil & Gas (COG 58.34, +0.22) paced gains early, but now trades fractionally lower.

Financial shares continue to trade on par with the major averages as the S&P 500 Financial Index trades up 0.3%. Franklin Resources (BEN 128.90, +2.14) and Goldman Sachs (GS 140.50, +1.84) continue to outperform the sector while American International Group (AIG 28.40, -0.48) trades down 1.5% following last week's re-IPO.

Treasuries trade at their best levels of the day, and continue to pressure their early December highs. Buying has knocked the 10-yr yield down to almost 3.05% while flattening the 2-10-yr spread to 258.

The dollar index has been stuck in negative territory all session long, but is near its session high of 74.70. Euro buying has eased, and has knocked the single currency to 1.4370, its lowest levels since early this morning.DJ30 +55.14 NASDAQ +15.91 SP500 +5.57 NASDAQ Adv/Vol/Dec 1525/960.4 mln/1001 NYSE Adv/Vol/Dec 1816/366.6 mln/1107

12:30 pm : U.S. equities continue to slide from their best levels of the session as the Nasdaq leads the way with a 0.5% gain.

The dollar index trades just off its best levels of the session near 74.70 after holding 74.50 support on the weak economic data this morning. Despite climbing off of session lows, the index still trades down by 0.4%. Strength in the euro is responsible for the decline in the dollar index, with the single currency gaining almost 90 pips to 1.4375 on word that Germany will lead the next rescue package for Greece. Earlier gains in the pound have subsided with cable now trading down 45 pips at 1.6430. The dollar has slipped well off its best levels of the session against the yen as the weaker-than-expected data in the U.S. knocked the pair off its best levels. Selling has pushed dollar/yen down to 81.25 after hitting 81.77 in earlier trade. The aussie trades just off its worst levels of the session near 1.0640, sent lower by some disappointing economic data in Australia. Key levels to watch include 1.0500 support and 1.07 resistance.DJ30 +56.31 NASDAQ +16.05 SP500 +5.81 NASDAQ Adv/Vol/Dec 1609/876.9 mln/910 NYSE Adv/Vol/Dec 2032/332.5 mln/885

12:00 pm : U.S. equities continue to hold solid gains with markets gearing up for afternoon trade. The tech-heavy Nasdaq is seeing slight outperformance, gaining 0.6%, while the Dow and S&P are holding gains of 0.5%.

Treasuries are trading flat, just off their best levels of the session as this morning's weak economic data erased earlier losses. The 30-yr is seeing a small gain of 0.2% to outperform the rest of the complex, and sits near its best levels since early December. A relatively flat session has the 10-yr yield stuck near 3.06% as it continues to do battle with support provided by its 200-day moving average. The 2-10-yr spread continues to hold flatter near 258 with a close below 257 providing its flattest close in almost six months. Precious metals have eased off earlier levels with gold little changed near 1537 and silver up close to 50 cents at 38.35. DJ30 +67.97 NASDAQ +16.69 SP500 +6.30 NASDAQ Adv/Vol/Dec 1652/790.6 mln/860 NYSE Adv/Vol/Dec 2093/298.0 mln/788

11:30 am : The major market averages are stronger at midday with the Nasadq leading the way higher with a 0.6%. The Dow and S&P lag just behind with 0.5% gains.

Financials are performing on par with the major market averages, holding gains of close to 0.5%. Franklin Resources (BEN 129.31, +2.55) is outperforming the broader S&P 500 Financial Index with a gain of 2.0% following a broker upgrade. Also receiving an analyst upgrade was Goldman Sachs (GS 140.63, +1.97) which is trading higher by 1.5%. Shares of insurance giant American International Group (AIG 28.33, -0.55) continue to under perform following last week's re-IPO, trading down close to 2.0%.DJ30 +64.64 NASDAQ +16.84 SP500 +6.83 NASDAQ Adv/Vol/Dec 1584/659.1 mln/885 NYSE Adv/Vol/Dec 2063/258.2 mln/788

11:00 am : The major market averages have slipped off their best levels of the session following disappointing economic data, but are still holding solid gains. The Dow leads the advance with a gain of 0.6% while the S&P 500 and Nasdaq trail with 0.5% gains.

Energy shares continue to set the pace with the S&P 500 Energy Index trading higher by 0.9%. Strength in the sector comes as July crude oil trades up more than two dollars to almost $103 per barrel. Cabot Oil & Gas (COG 59.94, +1.82) is the top performer in the space, adding 2.8% in early action while Cameron International (CAM 48.33, +0.96) and Massey Energy (MEE 65.21, +1.19) are also outperforming their peers.DJ30 +64.18 NASDAQ +14.19 SP500 +6.89 NASDAQ Adv/Vol/Dec 1453/540.2 mln/951 NYSE Adv/Vol/Dec 1945/214.2 mln/876

10:35 am : Commodities are mostly higher this morning due to the weakness in the dollar index.

Crude oil futures have been in positive territory all session so far and when pit trading began, crude ran about one point higher to new session highs of $103.38/barrel. In current activity, crude is up 2.0% at $102.60/barrel.

Natural gas futures have been in positive territory all session as well. In early morning trade, the energy component trended higher to session highs of $4.64/MMBtu. Nat gas remains near those highs in current trade and is now up 2.1% at $4.61/MMBtu.

Gold just fell into negative territory, while silver futures are showing strong gains. Gold is now flat at $1537.30/oz. while silver is 1.7% higher at $38.52/oz.DJ30 +80.11 NASDAQ +14.322 SP500 +7.08 NASDAQ Adv/Vol/Dec 1529/412.1 mln/813 NYSE Adv/Vol/Dec 2018/161.2 mln/791

10:00 am : The major market averages are holding their strong gains in early trade. The Nasdaq and S&P 500 lead the advance with 0.8% gains while the Dow trails just behind with a 0.7% advance.

Chicago PMI for May was just posted. It came in at 56.6, which is down from the April reading of 67.6. It is also less than the 62.5 that had been expected, on average, among economist polled by Briefing.com.

The Conference Board just posted its Consumer Confidence Index for May. The Index came in at 60.8, which is weaker than the 66.3 expected by the Briefing.com consensus, and below the upwardly revised 66.0 for April.DJ30 +114.32 NASDAQ +24.91 SP500 +10.79 NASDAQ Adv/Vol/Dec 1838/188.5 mln/448 NYSE Adv/Vol/Dec 2317/87.4 mln/408

09:45 am : U.S. equities are seeing strong gains at the opening of trade for the week following word that Germany is leading a new Greek bailout. Energy (+1.4%) is leading the advance with materials (+1.1%), technology (+1.1%), and financials (+1.0%) are all seeing gains in excess of 1.0%.

Cabot Oil & Gas (COG 59.52, +1.40) is setting the pace in the energy complex with a gain of 2.7% while General Dynamics (GD 73.85, +2.59) is the top performer early on with a gain of 3.8% after receiving an analyst upgrade. Chicago PMI and consumer confidence are due out shortly.DJ30 +126.02 NASDAQ +28.55 SP500 +12.37

09:18 am : [BRIEFING.COM] S&P futures vs fair value: +12.40. Nasdaq futures vs fair value: +20.80. The major market averages are pointing to strong gains at the open on word that Germany will take the lead on constructing a new bailout package for Greece. While terms of the new package are unavailable, it is said that a new package should be announced by the end of June. S&P futures are trading +12 versus fair value, piggybacking strong gains in Asia and Europe. Japan's Nikkei surged 2.0% despite Moody's placing Japan's local and foreign currency bond ratings on review for a possible downgrade. Gains were aided by expectations of strong industrial orders in the coming months. Shares in Hong Kong and Shanghai added 2.2% and 1.4% respectively as the Shanghai Composite snapped an eight-day losing streak. India's Sensex climbed 1.5% despite growth slowing to 7.8% from the previous reading of 8.3%.

Shares in Europe are higher at midday with Germany's DAX gaining 1.9% to lead the advance. Financial shares are pacing gains across the region with French banks Societe Generale and BNP Paribas adding 2.4% and 2.2% respectively. Weakness in the dollar index (-0.5%) comes at the hands of a strengthening euro. The single currency trades higher by 115 pips at 1.4400.

Treasuries are seeing modest weakness with the 10-yr yield ticking up just more than one basis point to 3.09%.

09:05 am : S&P futures vs fair value: +12.00. Nasdaq futures vs fair value: +20.80. The latest S&P/Case-Shiller 20-city Composite Index showed home prices fell 3.6% in March to a multi-year low. That compares with the Briefing.com consensus expectations of a 3.4% slide, and a 3.33% decline for the previous month. Data still to be released today includes Chicago PMI at 9:45 a.m. ET, and consumer confidence at 10 a.m. ET.

08:30 am : S&P futures vs fair value: +11.40. Nasdaq futures vs fair value: +19.00. Overseas markets have a positive tone with markets across most of Asia seeing strong gains and European markets higher in afternoon trade. Japan's Nikkei shrugged off Moody's placing the country's local and foreign currency bond ratings on review for a possible downgrade, adding 2.0% on expectations that industrial orders will rise sharply in the coming months. Exporters were among the biggest gainers, benefitting from a weaker yen, as Canon added 1.4%. Embattled Tokyo Electric Power fell 1.3% after receiving two downgrades from S&P. Shares in Hong Kong and Shanghai added 2.2% and 1.4% respectively as commodity-related names were the biggest gainers. Today's gains in Shanghai snapped an eight-day losing streak. Energy giant PetroChina added 3.1% in Hong Kong. India's Sensex gained 1.5% despite the country's GDP slowing to 7.8% from the previous quarter's 8.3% reading. Financials led the advance with HDFC Bank climbing 3.2%. The major European indices are strong at midday (FTSE +0.8%, CAC +1.5%, DAX +1.9%) on word of a German-led bailout package in the works for Greece. Financial across the region are among the top performers with Deutsche Bank and Allianz adding close to 2.0% each in Germany, and Societe Generale and BNP Paribas adding 2.8% and 2.2% respectively in France.

08:00 am : S&P futures vs fair value: +10.90. Nasdaq futures vs fair value: +22. The major market averages (Dow +105, S&P +11, Nasdaq +22) are pointing to strong gains versus fair value on word of a German-led bailout of Greece. While details of the new bailout plan remain sketchy, the package would avoid a total restructuring of Greek debt, and is expected to be announced by the end of June. Word of the coming bailout has put a bid into the euro with the single currency trading higher by more than 110 pips near 1.4400. In other macro news, Moody's placed Japan's local and foreign currency bond ratings on review for a possible downgrade. Japanese stocks shrugged off the announcement with the Nikkei adding 2.0%. The dollar is gaining against the yen with the pair climbing 60 pips to 81.55. Today will see the release of the Case-Shiller 20-city Index, Chicago PMI, and consumer confidence.

06:53 am : [BRIEFING.COM] S&P futures vs fair value: +13.10. Nasdaq futures vs fair value: +21.50.

06:53 am : Nikkei...9693.73...+188.80...+2.00%. Hang Seng...23684.13...+499.80...+2.20%.

06:53 am : FTSE...5998.50...+59.60...+1.00%. DAX...7298.69...+138.40...+1.90%.

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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