TheStrategyLab.com Price Action Trading Support Forum

Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)

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

Trade Performance for Today: +16.50 points or $1650.00 dollars in the Russell 2000 Emini TF ($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=843.

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).

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.

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).

Trading Plan Daily Routine @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=138&t=1058

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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.

Bloomberg (YouTube Video) - U.S. Stocks Gain, Commodities Rebound as Dollar Declines

May 12 (Bloomberg) -- Bloomberg's Deborah Kostroun reports on the performance of the U.S. equity market today. U.S. stocks advanced, erasing the second straight decline for the Standard & Poor's 500 Index, as the dollar fell and commodities rebounded from an early slump triggered by China's efforts to curb lending.

CNNMoney.com - Stocks Follow Commodities Back Up

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

By Hibah Yousuf
May 12, 2011: 4:32 PM ET

NEW YORK (CNNMoney) -- Stocks followed commodities, rebounding from their lows to end higher Thursday afternoon.

The Dow Jones industrial average (INDU) added 66 points, or 0.5%, the S&P 500 (SPX) rose 7 points, or 0.5%, and the Nasdaq Composite (COMP) gained 18 points, or 0.6%. Earlier in the session, all three indexes were down as much as 0.7%.

Stocks had started the day in sell mode, weighed down by lower commodity prices and a dour outlook from Cisco Systems. But the momentum shifted midday as commodities erased earlier losses and the dollar pulled back against the euro.

Oil prices rose almost 1% to settle at $98.97 a barrel. Earlier, crude had sold off more than 3%. Gold prices also turned higher, rising 0.4% to $1.507.40 an ounce. Silver remained in the red, but was only off 2% to $34.80 an ounce.

* Fair value for oil is $60 - StockTwits

"You don't have to look at the stocks anymore to know what's going on. You just need to look at commodities," said Donald Selkin, chief market strategist at National Securities. "But that makes me sick."

Stocks and commodities have been moving in tandem lately as investors have started considering rising commodity prices a sign of strength for the global economy.

But Selkin argues that higher oil prices hurt consumers, who may pull back on spending after having to shell out more cash at the gas pump.

Meanwhile, shares of big oil companies Exxon Mobil (XOM, Fortune 500), Chevron (CVX, Fortune 500), ConocoPhillips (COP, Fortune 500), Shell (RDSA), BP (BP) also stabilized as the companies' CEOs defended their tax breaks before Congress.

* Investors: Cheaper oil is good news - The Buzz

Stocks fell sharply Wednesday, as energy and materials stocks got slammed by a sell-off in oil and gasoline futures.

Economy: The number of people who filed for first-time unemployment benefits in the most recent week fell to 434,000, down from the previous week but worse than economists' expectations.

Initial unemployment claims have been stuck above the key 400,000 level for four weeks.

Meanwhile, retail sales rose 0.5% in April, according to the Commerce Department, but the bulk of the gains came from increasing gas and food prices.

The Producer Price Index for finished goods rose 0.8% in April, seasonally adjusted, according to the government. That followed a 0.7% increase in March.

The Commerce Department said business inventories rose 1% in March. Economists were expecting inventories to rise 0.9% during the month, after a 0.7% increase in February.

Companies: Shares of Cisco Systems (CSCO, Fortune 500) fell nearly 5%, dragging on all three indexes. The Dow component posted better-than-expected earnings after the bell Wednesday, but CEO John Chambers issued a tepid outlook for the coming quarter.

* Video - Cisco's struggle

Shares of Kohl's (KSS, Fortune 500) rose 3.9% after the department store chain posted a $211 million quarterly profit, up 6% from a year earlier, as sales rose 3% to $4.2 billion. Kohl's also raised its full-year outlook.

World markets: European stocks closed lower. Britain's FTSE 100 lost 0.5%, the DAX in Germany fell 0.7% and France's CAC 40 dropped 0.9%.

* 10 triple-digit stock winners

Asian markets ended the session lower. The Shanghai Composite fell 1.4%, the Hang Seng in Hong Kong lost 0.9% and Japan's Nikkei plunged 1.5%.

The People's Bank of China once again raised the bank reserve rate by 0.5 percentage points as it continues to work on reeling in its red hot economy.

According to its most recent figures, China's economic growth slowed in April, with the country's inflation rate easing a bit. It's still unclear, though, whether that signals the start of a prolonged cooling period or not.

Currencies and bonds: The dollar erased its gains against the euro, falling 0.3%. It remained higher versus the British pound. The greenback was slightly lower against the Japanese yen.

The price on the benchmark 10-year U.S. Treasury fell, pushing the yield up to 3.23%.



Yahoo! Finance - Market Update

4:30 pm : Stocks were imbued this morning by sharp losses abroad and a concerted selling effort against commodities after China's central bank announced that another increase will be made to the country's reserve requirement ratio. A bounce by the dollar above its 50-day moving average for the first time in months also weighed on early trade.

However, the dollar failed to sustain its gain and inevitably fell to a fractional loss against a collection of competing currencies. Its pullback coincided with a climb by both stocks and commodities.

Stocks settled with solid gains after they had been down markedly. Defensive-oriented stocks were actually the top performers. Specifically, consumer staples (+1.3%), health care (+0.9%), and utilities (+0.9%) were three of the top sectors.

Energy stocks had experienced pronounced selling pressure this morning, but the broader market's bounce and an upturn in commodities prices helped the sector recover from a loss of more than 1% to finish flat. Oil prices rallied from a session low of about $95.25 per barrel to finish higher by 0.8% at $98.97 per barrel.

Corporate news flow remains light, but Dow component Cisco (CSCO 16.93, -0.85) came into focus for its latest quarterly announcement. The company posted an upside earnings surprise, but that mattered little to investors and analysts who were deeply disappointed by the company's forecast. Cisco CEO John Chambers couldn't quell concerns about the company during the a conference call or in an interview with CNBC.

Participants got a few doses of data today, but none had any meaningful impact on trade. The Producer Price Index (PPI) for April showed an increase of 0.8%, which is greater than the 0.5% increase that has been widely expected. Core PPI increased by a more moderate 0.3% in April, but the consensus among economists surveyed by Briefing.com had been pegged at a 0.2% increase.

Retail sales increased by 0.5% in April after an upwardly revised increase of 0.9% for the prior month. Economists polled by Briefing.com had expected, on average, retail sales to increase by 0.6% in April. Excluding autos, retail sales actually increased by 0.6%, which is greater than the 0.5% increase that had been widely anticipated. Sales less autos for the prior month were revised upward to reflect a 1.2% increase.

Initial weekly jobless claims were also just posted. Once again the tally exceeded what had been expected. Initial claims totaled 434,000, which is greater than the 423,000 initial claims estimated in the Briefing.com consensus. The latest count is down from last week's upwardly revised total of 478,000 initial claims.

Treasuries erased some of the gains that they had achieved in the prior session. Traders took in results from an auction of 30-year Bonds that featured a bid-to-cover of 2.43, dollar demand of $38.9 billion, and an indirect bidder participation rate of 33.0%.

Advancing Sectors: Consumer Staples (+1.3%), Consumer Discretionary (+0.9%), Health Care (+0.9%), Utilities (+0.9%), Telecom (+0.7%), Tech (+0.6%), Industrials (+0.1%)
Unchanged: Materials
Declining Sectors: Energy (-0.1%), Financial (-0.1%)DJ30 +65.89 NASDAQ +17.98 NQ100 +0.6% R2K +0.8% SP400 +0.7% SP500 +6.57 NASDAQ Adv/Vol/Dec 1703/2.22 bln/903 NYSE Adv/Vol/Dec 1898/949 mln/1130

3:30 pm : June crude oil finished higher by 0.8% to $98.97 per barrel after erasing overnight losses. In overnight trade, strength in the dollar weighed on crude oil prices, however a pullback in the dollar allowed for crude oil to trade into positive territory. It momentarily traded back above the $100 level before closing. It was an uneventful session for June natural gas, which closed higher by 0.2% to $4.19 per MMBtu. This morning's in-line inventory data momentarily push prices into positive territory, but they were quick to pull back to near the unchanged mark, where they spent the remainder of the session.

June gold ended higher by 0.4% to $1507.50 per ounce, while July silver shed 1.5% to close at $34.99 per ounce. Both metals sold off in overnight trade as the dollar rallied. News that the People's Bank of China hiked the reserve requirement ration by 50 basis points also pressured the metals. However, gold and silver spent most of pit trade recouping losses, with gold ending in positive territory. DJ30 +56.65 NASDAQ +15.55 SP500 +5.22 NASDAQ Adv/Vol/Dec 1645/1.8 bln/939 NYSE Adv/Vol/Dec 1826/662.6 mln/1166

3:00 pm : Stocks head into the final hour of trade with solid gains after they had traded with considerable losses in the early going.

Weakness among Europe's bourses had imbued stateside trade this morning. Germany's DAX ended Thursday down 0.7%. Global insurance giant Allianz SE was a source of considerable weakness following its first quarter results.

Meanwhile, France's CAC fell 0.9%. Societe Generale, LVMH Moet Hennessy, and Schneider Electric led losses. France released its April CPI, which increased by 0.3% after a 0.8% increase in the prior month. Its eurozone Harmonized CPI reading for April increased by 0.4% after a 0.9% increase in the prior month.

Britain's FTSE fell 0.5% after broad selling pressure had knocked it to its lowest level of the week. Barclays (BCS) has been one of the few to limit its move lower. The stock was recently upgraded by analysts at Citigroup. Industrial production for the United Kingdom increased by 0.3% in April. That marks a nice rebound from the 1.2% decline that was posted for February. DJ30 +50.56 NASDAQ +12.57 SP500 +4.38 NASDAQ Adv/Vol/Dec 1635/1.65 bln/933 NYSE Adv/Vol/Dec 1853/610 mln/1141

2:30 pm : Stocks have eased off of session highs at the same time that the dollar has made a move up from its session low. The dollar is still down with a 0.1% loss and the stock market is still up with a solid gain, though.

Consumer staples stocks continue to climb. The sector is now up 1.2% as participants show a preference for defensive-oriented issues. That preference has lifted the telecom sector to a 0.9% gain, the health care sector 0.8% higher, and the utilities sector up 0.7%. Financials are still lagging; their 0.3% loss makes them the worst performing sector of the day. DJ30 +58.09 NASDAQ +13.73 SP500 +5.16 NASDAQ Adv/Vol/Dec 1608/1.53 bln/938 NYSE Adv/Vol/Dec 1912/565 mln/1071

2:00 pm : Stocks remain near session highs. The move brought about an acceleration of trading volume. In turn, a half billion shares have now been traded on the NYSE. The mix of that volume features an advancing volume total that outnumbers declining volume by about 3-to-2.

With stocks at session highs on strong volume, Treasuries have fallen to a session low. In turn, the yield on the 10-year Note now sits at 3.25%. DJ30 +66.61 NASDAQ +16.08 SP500 +6.86 NASDAQ Adv/Vol/Dec 1607/1.40 bln/935 NYSE Adv/Vol/Dec 1878/516 mln/1098

1:30 pm : Results from an auction of 30-year Bonds were just released about 30 minutes ago. It drew a bid-to-cover of 2.43, dollar demand of $38.9 billion, and an indirect bidder participation rate of 33.0%. For comparison, the prior auction drew a bid-to-cover of 2.83, dollar demand of $36.8 billion, and an indirect bidder participation rate of 47.2%. An average of the past six auctions results in a bid-to-cover ratio of 2.68, dollar demand of $37.3 billion, and an indirect bidder participation rate of 42.8%.DJ30 +58.09 NASDAQ +15.60 SP500 +6.28 NASDAQ Adv/Vol/Dec 1561/1.28 bln/956 NYSE Adv/Vol/Dec 1806/470 mln/1150

1:00 pm : The major equity market averages slid to sizable losses in the early going, but a downturn by the dollar has helped stocks rally to a modest gain. Commodities have also improved their position.

Losses in the prior session snapped a three-day winning streak for the stock market. The downturn was extended this morning as early participants responded to weakness abroad and the decision by China's central bank to implement another increase in its reserve requirement ratio.

Stocks have since recovered, though. The broad-based upturn has coincided with a downturn in the dollar, which is now down with a slight loss after it had extended its prior session advance this morning by pushing past its 50-day moving average for the first time in months.

The dollar's dip has coincided with a lift in the commodities complex, too. In turn, the CRB Commodity Index is unchanged after it had been down about 1% this morning.

An improved tone of trade in commodities and the broad market has been particularly beneficial for natural resource issues like energy stocks and materials stocks. Both sectors are now up 0.3% after they had been down more than 1% this morning.

Consumer staples stocks have outperformed for two straight sessions. The sector has run ahead to a 0.8% gain after it had limited its downturn in the prior session to only a fractional loss.

Cisco (CSCO 17.03, -0.75) and Goldman Sachs (GS 141.81, -6.07) have both struggled to find support, though. Shares of CSCO have been shunned following the company's downside forecast, which has overshadowed its upside earnings surprise for the latest quarter. Meanwhile, influential analyst Dick Bove recommended that GS shares should be sold.

Participants have had several doses of data, but none of them seemed to drive any kind of a dramatic reaction. Retail sales proved mixed relative to expectations. Meanwhile, producer prices proved hotter than anticipated and initial weekly jobless claims exceeded what had been expected. Monthly business inventories increased more than expected. DJ30 +37.20 NASDAQ +13.43 SP500 +4.48 NASDAQ Adv/Vol/Dec 1385/1.19 bln/1130 NYSE Adv/Vol/Dec 1503/420 mln/1430

12:30 pm : Treasuries aren't seeing too much action this session. That could change with the release of results from an auction of 30-year Bonds at the top of the hour, however. The yield on the 30-year Bond currently stands at 4.32%. The benchmark 10-year Note currently carries a yield of 3.21%.

Meanwhile, Britain's 10-year Note is yielding 3.29%. Its 30-year Bond has a yield of 4.21%. Just yesterday the Bank of England announced that it expects consumer prices to exceed its 2.0% target rate for both this year and 2012. DJ30 -8.36 NASDAQ +5.80 SP500 -0.38 NASDAQ Adv/Vol/Dec 1371/1.05 bln/1128 NYSE Adv/Vol/Dec 1432/390 mln/1468

12:00 pm : The S&P 500 recently came in touch with the neutral line, but it failed to extend the move. That has invited some renewed selling interest, which has dropped the benchmark Index back to a narrow loss.

The stock market's recent climb coincided with a pullback by the dollar. The dollar had been up above its 50-day moving average to a monthly high earlier this morning, but it has had a hard time holding on to gains. A recent slip has left the Dollar Index down with a 0.1% loss.

Improvement among commodities has also come amid the dollar's downturn. The CRB Commodity Index was down about 1% a couple of hours ago, but now it is off by only 0.3%. DJ30 -21.60 NASDAQ +2.09 SP500 -1.41 NASDAQ Adv/Vol/Dec 1326/945 mln/1150 NYSE Adv/Vol/Dec 1488/350 mln/1388

11:30 am : Stocks recently regrouped to make another upward push. This time, though, the effort has taken the Nasdaq just across the flat line and the S&P 500 to a session high.

A strong move by energy stocks and materials stocks have helped give the broad market momentum. Both sectors were down in excess of 1% this morning, but the energy sector has since pared its loss to just 0.3% while the materials sector has completely erased its loss.

Consumer staples stocks are still this session's top performers, though. The sector is up 0.4%. Food plays Tyson Foods (TSN 57.42, +0.76), Sysco Corp (SYY 31.83, +0.68), Hershey (HSY 56.98, +0.75), and Kellogg (K 57.42, +0.76) are leaders in the sector. DJ30 -26.03 NASDAQ +0.60 SP500 -1.40 NASDAQ Adv/Vol/Dec 924/778 mln/1519 NYSE Adv/Vol/Dec 1009/289 mln/1862

11:00 am : Stocks remain in the red following a failed attempt to move higher. The ill-fated climb actually saw the Nasdaq come within close reach of the flat line.

Financials have been a heavy drag on trade today. The sector's 1.1% loss takes it to its lowest level of 2011.

Weakness within the financial sector is widespread. Franklin Resources (BEN 126.82, +0.61), Invesco (IVZ 24.68, +0.14), and Chubb (CB 65.17, +0.15) are among the few that have managed to tick higher today. Goldman Sachs (GS 144.16, -3.72) and Citigroup (C 41.92, -1.00) are the worst performers. Their weight has also made them the heaviest drags on trade. DJ30 -72.95 NASDAQ -13.86 SP500 -7.57 NASDAQ Adv/Vol/Dec 845/642 mln/1543 NYSE Adv/Vol/Dec 916/235 mln/1893

10:30 am : Commodities are lower again today, extending yesterday's losses. Very few areas are showing gains including the livestock sector (live cattle, lean hogs and feeder cattle), aluminum and copper. However, these gains are paltry.

Silver is down sharply following losses seen yesterday of around 8%. Silver fell as low at $32.30/oz. and in current trade, the precious metal is down 5.3% at $33.62/oz. Gold is lower as well this morning, but showing modest losses. It fell below the $1500.00 level overnight and is now 0.5% lower at $1494.60/oz.

In the energy space, natural gas also lost steam overnight and fell as low as $4.17/MMBtu a few hours ago. Ahead of the weekly inventory data natural gas was back near the unchanged line. Following the data, which showed a build of 70 bcf, in-line with the consensus that called for a build of 70 bcf, the energy component pulled back just slightly and is now -0.2% at $4.23/MMBtu.

Crude oil has stayed above the $95 area in today's session, but hit session lows of $95.25/barrel about three hours ago. It has recovered most of those losses and is now $97.66/barrel, down 0.6%.

Overnight, wheat futures fell 20 cents (or -2.7%) to $7.39/bushel, corn futures fell 17 cents (or -2.6%) to $6.60/bu and soybeans lost 17 cents (or -1.3%) to $13.15/bu. Note that corn fell the exchange limit yesterday (-30 cents to $6.77/bushel).DJ30 -53.73 NASDAQ -5.27 SP500 -5.04 NASDAQ Adv/Vol/Dec 860/451.0 mln/1452 NYSE Adv/Vol/Dec 964/164.8 mln/1784

10:00 am : This morning's descent has stabilized. Overall losses are moderate.

Defensive-oriented issues continue to attract the most support, though. As such, consumer staples stocks are up 0.4%, utilities stocks are up 0.2%, and telecom has limited its loss to less than 0.2%.

Business inventories for March were just released. They increased by 1.0%, which is slightly greater than the 0.9% increase that had been anticipated among economists polled by Briefing.com. DJ30 -77.27 NASDAQ -15.94 SP500 -8.06 NASDAQ Adv/Vol/Dec 478/220 mln/1751 NYSE Adv/Vol/Dec 526/85 mln/2150

09:45 am : Stocks are sliding in the first few minutes of trade. Pressure had appeared to be easing prior to the open, but a recent rebound by the dollar to a 0.3% gain has been met with renewed selling interest.

For the second straight session commodities plays are suffering from the most intense selling interest. Energy stocks and materials stocks are down 1.3% and 1.1%, respectively.

Consumer staples stocks are trading with relative strength again. The sector slid only fractionally yesterday and is actually up 0.2% this morning. DJ30 -75.53 NASDAQ -23.03 SP500 -8.78 NASDAQ Adv/Vol/Dec 505/79 mln/1602 NYSE Adv/Vol/Dec 507/29 mln/1932

09:15 am : S&P futures vs fair value: -4.60. Nasdaq futures vs fair value: -7.30. Stock futures still point to a lower start for the session, but pressure isn't as intense as what was witnessed earlier this morning. Selling has moderated with a slip by the dollar off of its morning high, which also marked its best level in more than a month, back to the flat line. The greenback's pullback has also helped soften pressure against commodities so that the CRB Commodity Index is now down just 0.4% after it had set a near four-month low earlier. Data has had a rather indiscernible effect on the morning mood -- retail sales proved mixed relative to expectations; producer prices increased more than expected, and; initial weekly jobless claims exceeded what had been anticipated once again. Still to come this morning are business inventory data and a testimony from Fed Chairman Bernanke at 10:00 AM ET. Corporate news flow has been light, but Dow component Cisco (CSCO) was a feature in this morning's lineup. The company posted an upside earnings surprise, but issued downside guidance during its conference call. The stock is expected to open with a loss of more than 4%.

09:05 am : S&P futures vs fair value: -4.50. Nasdaq futures vs fair value: -7.40. The dollar extended its prior session advance by tacking on a modest gain this morning. The greenback set a one month high against a basket of major foreign currencies earlier this morning, but it has since eased off of that mark so that it is now up 0.2%. That's still enough to keep the Dollar Index above its 50-day moving average. It has been four months since the dollar last traded above that line. The dollar's decline from its morning high has helped moderate morning selling pressure. Stock futures still trail fair value, though. Commodities have also pared losses. As such, oil prices are down with a 1.0% loss at $97.25 per barrel in the first few minutes of pit trade. Silver prices are down 5.0% to $33.75 per ounce. Gold prices are down a much more modest 0.5% to $1494 per ounce.

08:35 am : S&P futures vs fair value: -5.60. Nasdaq futures vs fair value: -10.60. Stock futures have worked their way up from premarket lows, but they continue to trail fair value. Participants are still digesting the latest dose of data. The Producer Price Index (PPI) for April showed an increase of 0.8%, which is greater than the 0.5% increase that has been widely expected. Core PPI increased by a more moderate 0.3% in April, but the consensus among economists surveyed by Briefing.com had been pegged at a 0.2% increase.

Separately, retail sales increased by 0.5% in April after an upwardly revised increase of 0.9% for the prior month. Economists polled by Briefing.com had expected, on average, retail sales to increase by 0.6% in April. Excluding autos, retail sales actually increased by 0.6%, which is greater than the 0.5% increase that had been widely anticipated. Sales less autos for the prior month were revised upward to reflect a 1.2% increase.

Initial weekly jobless claims were also just posted. Once again the tally exceeded what had been expected. Initial claims totaled 434,000, which is greater than the 423,000 initial claims estimated in the Briefing.com consensus. The latest count is down from last week's upwardly revised total of 478,000 initial claims.

08:05 am : S&P futures vs fair value: -7.50. Nasdaq futures vs fair value: -13.10. Pressure from the prior session has carried over into today's premarket trade. As a result, stock futures trail fair value by a substantial margin. Selling interest surrounding commodities has been even more intense, such that oil prices are down 2.4% to $95.85 per barrel and silver is down 6.6% to $33.15 per ounce. Action abroad hasn't done anything to bolster a positive bias; many of the major bourses in Europe are down markedly after Asia's averages logged substantial losses of their own overnight. On the earnings front, the number of announcements continues to come down, but Cisco Systems (CSCO) disappointed once again by issuing downside guidance. The pessimistic outlook has overshadowed the company's upside earnings surprise for the latest quarter, and prompted a few analyst downgrades. Shares of CSCO are down about 4% in premarket trade. Today's calendar is full of events. The bottom of the hour brings the latest readings on producer prices, retail sales, and initial weekly jobless claims. Business inventory data are scheduled to follow at 10:00 AM ET. At the same time, Fed Chairman Bernanke is scheduled to testify to the Senate Banking Committee about the Dodd-Frank implementation. Weekly inventories for natural gas will be released at 10:30 AM ET. Results from an auction of 30-year Bonds will be posted at 1:00 PM ET.

06:53 am : Nikkei...9716.65...-147.60...-1.50%. Hang Seng...23073.76...-218.00...-0.90%.

06:53 am : FTSE...5904.80...-71.20...-1.20%. DAX...7377.78...-117.30...-1.60%.

Special thanks to Bloomberg, CNNMoney and Yahoo! Finance for their market summaries.

Best Regards,
M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
@ http://twitter.com/wrbtrader and http://stocktwits.com/wrbtrader

Phone: +1.708.572.4885
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