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 Post subject: June 7th Tuesday 2011 Emini TF ($TF_F) points +18.50
PostPosted: Tue Jun 07, 2011 5:27 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:
060711-wrbtrader-PnL-Blotter-Profit-1850.png
060711-wrbtrader-PnL-Blotter-Profit-1850.png [ 28.13 KiB | Viewed 240 times ]

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

Trade Performance for Today: +18.50 points or $1850.00 dollars in the Russell 2000 Emini TF ($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=91&t=885.

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 CNNMoney.com - Bernanke Kills Wall Street's Buzz
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click on the above image to view today's price action of key markets

By Ben Rooney
June 7, 2011: 5:00 PM ET

NEW YORK (CNNMoney) -- U.S. stocks closed lower Monday after comments from Federal Reserve chairman Ben Bernanke dashed hopes that the central bank could provide additional economic stimulus.

The Dow Jones industrial average (INDU) fell 19 points, or 0.1%, to 12,070. The Dow had been up by 70 points earlier in the session. The S&P 500 (SPX) eased 1 point to settle at 1,285. The Nasdaq (COMP) lost 1 point to 2,701.

Speaking in Atlanta, Bernanke acknowledged that economic growth this year has been slower than expected. But he said growth should pick up in the second half of the year if gas prices "moderate" and supply disruptions stemming from the disaster in Japan fade.

Bernanke twice called the job market "far from normal" and conceded, "the economy is still producing at levels well below its potential."

Despite the challenges facing the economy, Bernanke reiterated that the central bank's $600 billion stimulus will run out later this month.

However, the chairman left the door open for more accommodative monetary policy, saying interest rates are likely to remain "exceptionally low" for an extended period, and did not dismiss the idea of further easing. Bernanke also said that should his inflation predictions be wrong, the Fed "would respond as necessary."

"Overall, the economic recovery appears to be continuing at a moderate pace, albeit at a rate that is both uneven across sectors and frustratingly slow from the perspective of millions of unemployed and underemployed workers," Bernanke said.

* Bernanke: Job market 'far from normal'

Ryan Larson, a senior equity trader at RBC Global Asset Management , said Bernanke did not reveal anything new, but his comments confirmed worries in the market about weakness in the economy.

"It appears that growth is moderating, and that was confirmed by the chairman today," he said.

There had been "some chatter" in the market about a third round of stimulus from the Fed, Larson added. "But we didn't see that in the language."

Bernanke made his remarks about 15 minutes before the closing bell, so investors did not have much time to react. But given the recent weakness in the market and the lack of economic data on the agenda this week, traders said the selling could carry over into Tuesday's session.

Stocks had been supported earlier in the session by reports of corporate dealmaking. But the tone has been cautious recently amid signs of weakness in the job market, housing and manufacturing activity.

Stocks fell Monday as investors weighed losses in the financial sector with recent downbeat economic data.

Economy: The Federal Reserve said consumer credit rose by $6.3 billion in April, after a $4.8 billion rise the month before.

* Economy makes people sick, literally

Analysts polled by Briefing.com had expected an increase of $6 billion.

Late Monday, President Obama's top economic adviser Austan Goolsbee announced he is leaving the the administration to return to teaching.

Companies: Ford Motor (F, Fortune 500) plans to boost worldwide production 50% by mid-decade, to 8 million vehicles a year.

Ford plans to ramp up production on small vehicles and focus on emerging markets. Shares of the automaker rose about 1%.

Shares of International Paper (IP, Fortune 500) edged up after the company offered to buy Temple-Inland (TIN) for $3.38 billion in cash late Monday. Temple-Inland's board rejected the offer; its stock soared 42%.

The offer helped lift shares of other paper companies, including Weyerhaeuser (WY, Fortune 500).

Shares of Regions Financial (RF, Fortune 500) rose slightly following an announcement that its banking unit will buy a $1 billion credit card portfolio from FIA Service.

Tiffany & Co. (TIF) rose nearly 1% amid speculation that the owner of rival jewler Cartier is interested in buying the company.

* Can the euro catch up to the dollar?

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

Oil for July delivery rose 9 cents to settle at $99.09 a barrel.

Gold futures for August delivery gained 20 cents to settle at $1,544.20 an ounce.

Bonds: The price on the benchmark 10-year U.S. Treasury slipped, pushing the yield up to 3.01% from 3.01% late Monday.

World markets: European stocks finished with gains. Britain's FTSE 100 inched up 0.3%, the DAX in Germany jumped 0.6% and France's CAC 40 added 0.4%.

Asian markets ended mixed. The Shanghai Composite jumped 0.6% and Japan's Nikkei rose 0.7%, while the Hang Seng in Hong Kong fell 0.4%.

Image

Image Yahoo! Finance - Market Update

4:10 pm : Stocks finished on their session lows as Fed Chairman Bernanke's late day speech on his U.S. economic outlook pushed stocks to their worst levels of the day. In his speech, Mr. Bernanke restated the need for accommodative monetary policy. The Dow led today's decline, sliding 0.2% while the S&P shed 0.1%, and the Nasdaq finished with fractional losses.

Shares of International Paper (IP 29.78, +0.13) and Temple-Inland (TIN 29.49, +8.48) made headlines today after International Paper made a $30.60 per share bid for Temple-Inland following yesterday's close on Wall Street. The unsolicited bid was quickly rejected with Temple-Inland saying it "grossly undervalues" the company despite being a 46% premium to Monday's closing price. Other packaging/paper stocks such as Boise (BZ 7.89, +0.42) and Packaging Corp. of America (PKG 28.49, +1.66) saw a positive response to the news.

Materials finished as the best performing sector in the S&P 500, adding 0.3% for the day. Precious metals rebounded from their worst levels of the session and finished mixed at the close of pit trade with gold down $3.40 to $1543.80 and silver up $0.29 at $37.08. Gold miner Newmont Mining (NEM 52.94, -0.50) and silver miner Silver Wheaton (SLW 33.70, +0.05) finished down 0.9% and up 0.2% respectively.

Sprint (S 5.49, -0.11) was among today's biggest decliners early, but pared a good portion of its losses after being downgraded to sell from hold at Stifel Nicolaus. The reason for the downgrade is being attributed to Sprint's Network Vision and 4G strategy being more complicated, and potentially taking a lot more time and money than investors are currently anticipating. The stock closed lower by 2.0% on the news.

Despite a plethora of positive comments regarding yesterday's announcement of the iCloud, shares of Apple (AAPL 332.04, -6.00) finished among the worst performers in the technology space as they ended down close to 1.8%. The stock has been stuck in a range between $330 and $360 throughout most of 2011 and today's weakness brings the price within a couple dollars of the year's lower bound.

Treasuries finished the day at their best levels of the U.S. session as the solid $32 billion 3-yr note auction lifted maturities across the complex off their worst levels of the day. The 10-yr yield ended the U.S. session at 3.011% and eased just below 3.00% following Mr. Bernanke's speech.

The dollar index ended the day on its worst levels of the session, but was able to hold the 73.50 level. Traders remain focused on Thursday's Bank of England and European Central Bank interest rate decisions.

Tomorrow will see the release of the highly volatile MBA Mortgage Index at 7 a.m. ET, and the Fed's Beige Book at 2 p.m. ET. Watch for Treasury to issue $21 bln 10-yr notes in a reopening.DJ30 -19.15 NASDAQ -1.00 SP500 -1.23 NASDAQ Adv/Vol/Dec 1522/1.67 bln/1027 NYSE Adv/Vol/Dec 1803/741.8 mln/1159

3:30 pm : July crude oil settled a few cents above the unchanged mark at $99.09 per barrel, erasing all of its earlier losses. Reports earlier this morning indicated that Saudi Arabia would raise its production output by 500K regardless of the outcome of tomorrow's OPEC meeting. A separate report indicated that OPEC would hike production by as much as 1.5 mln bpd. Those reports caused prices to drop. Despite those reports, crude oil was able to recoup most of its losses to end right around unchanged. It was a quiet session for July natural gas, which closed flat on the day at $4.83 per MMBtu.

August gold ended lower by 0.2% to $1543.80 per ounce, while July silver ended up 0.8% to $37.08. Both metals sold off to their respective lows in morning trade. They spent the remainder of the session attempting to rebound off of those lows, with gold ending just shy of the flat line, while silver was able to close back in positive territory. DJ30 +47.00 NASDAQ +10.54 SP500 +5.79 NASDAQ Adv/Vol/Dec 1747/1.4 bln/818 NYSE Adv/Vol/Dec 2048/609.8 mln/905

3:00 pm : Treasuries finished the day at their best levels of the U.S. session as the solid $32 billion 3-yr note auction lifted maturities across the complex off their worst levels of the day. The auction drew 0.765%, and saw a 3.28x bid/cover with indirect bidders taking down 35.6% of the offering. The shorter dated paper saw a late day move into positive territory, holding small gains into the close while maturities in the belly of the curve lagged with small losses. The 10-yr yield ended the day at 3.009% ahead of tomorrow's $21 billion 10-yr reopening. Trade has been rather quiet over the past week with the 10-yr yield hovering near 3.00%. The 2-10-yr spread finished steeper at 259.5 basis points.DJ30 +55.74 NASDAQ +12.61 SP500 +6.91 NASDAQ Adv/Vol/Dec 1717/1.27 bln/794 NYSE Adv/Vol/Dec 2052/515.3 mln/890

2:30 pm : The dollar index trades at its worst levels of the session, near 73.55, ahead of Fed Chairman Bernanke's speech on his U.S. economic outlook at 3:45 p.m. ET. The euro is higher by 110 pips and back at its best levels of the day near 1.4690. Earlier strength was attributed to European Central Bank President Jean Claude Trichet endorsing a Greek debt rollover. German industrial production is due out tomorrow. The pound is holding a gain of 95 pips near 1.6450 ahead of tomorrow's inflation report that will set the stage for Thursday's interest rate decision. The yen has seen a pretty quiet session, holding steady near 80.10 per dollar while the dollar has strengthened to .8375 per Swiss franc after Swiss CPI was in-line at 0.0%. After spending most of the session in negative territory, the Australian dollar is up close to 10 pips near 1.0735 ahead of tomorrow's home loans data. The Aussie had been under mild selling pressure after the Reserve Bank of Australia kept its benchmark interest rate steady at 4.75%. Dollar weakness has the greenback trading down 65 pips against the Canadian dollar near .9735 ahead of tomorrow's Canadian housing starts number.
DJ30 +79.73 NASDAQ +18.31 SP500 +9.01 NASDAQ Adv/Vol/Dec 1777/1.16 bln/741 NYSE Adv/Vol/Dec 2108/469.4 mln/827

2:00 pm : The market is hovering just below session highs as the afternoon proceeds, with relatively little in terms of intraday catatlysts. Treasury yields came down modestly following a solid but not spectacular $32 billion 3-yr note auction, but there wasn't much response to the auction in the equity market. Volume remains relatively light as well, amid a lack of intraday catalysts. While the afternoon is currently proceeding quietly, that will change at 3:45 ET when Fed Chairman Bernanke discusses the U.S. economic outlook. Although no major change in outlook/policy are expected to come out of the speech, the end-of-day event could cause some late-day volatility.DJ30 +66.79 NASDAQ +13.59 SP500 +7.32 NASDAQ Adv/Vol/Dec 1745/1.07 bln/759 NYSE Adv/Vol/Dec 2082/430.7 mln/848

1:30 pm : After slipping back towards their lowest levels of the session following a solid but not spectacular $32 billion 3-yr note auction maturities are beginning to tick higher. The auction drew 0.765% and saw a 3.28x bid/cover with indirect bidders taking down 35.6% of the offering. Direct bidders took down just 9.2% of the auction, their lowest participation since December 2009. The 10-yr yield climbed back up to 3.05% as light selling hit the complex, but has since eased to pre-auction levels near 3.026%. Traders will now shift their attention to the 10-yr as tomorrow will bring about a $21 billion 10-yr reopening. Further steepening has occurred along the curve with the 2-10-yr spread widening to 262.5, its widest since May 21. Market moving events still on tap for today include consumer credit at 3 p.m. ET, and Fed Chairman Bernanke's speech on his U.S. economic outlook at 3:45 p.m. ET.DJ30 +68.64 NASDAQ +12.64 SP500 +7.12 NASDAQ Adv/Vol/Dec 1721/982.7 mln/768 NYSE Adv/Vol/Dec 2080/396.4 mln/849

1:00 pm : The major market averages trade near their best levels of the session as the Dow and S&P are pacing the advance with 0.6% gains.

Shares of International Paper (IP 30.01, +0.36) and Temple-Inland (TIN 29.51, +8.50) are in focus today after International Paper made a $30.60 per share bid for Temple-Inland. The unsolicited bid was quickly rejected with Temple-Inland saying it "grossly undervalues" the company despite being a 46% premium to Monday's closing price. Other packaging/paper stocks such as Boise (BZ 7.83, +0.36) and Packaging Corp. of America (PKG 28.52, +1.69) are seeing a positive response to the news.

Despite a plethora of positive comments regarding yesterday's announcement of the iCloud, shares of Apple (AAPL 333.19, -4.85) are among the worst performers in the technology space, trading down close to 1.4%. The stock has been stuck in a range between $330 and $360 throughout most of 2011 and today's weakness brings the price within a couple dollars of the year's lower bound.

Sprint (S 5.46, -0.14) is under pressure after being downgraded to sell from hold at Stifel Nicolaus. The reason for the downgrade is being attributed to Sprint's Network Vision and 4G strategy being more complicated, and potentially taking a lot more time and money than investors are currently anticipating. The stock is lower by almost 2.5% on the news.

Precious metals have rebounded from their worst levels of the session and currently trade mixed with gold down four dollars to $1543 and silver up $0.20 at $37.00. Gold miner Newmont Mining (NEM 53.09, -0.35) and silver miner Silver Wheaton (SLW 33.50, -0.14) are off 0.7% and 0.5% respectively.

Market moving events still on tap for today include the $32 billion 3-yr auction at 1 p.m. ET, consumer credit at 3 p.m. ET, and Fed Chairman Bernanke's speech on his U.S. economic outlook at 3:45 p.m. ET.DJ30 +67.66 NASDAQ +8.56 SP500 +7.06 NASDAQ Adv/Vol/Dec 1677/872.8 mln/792 NYSE Adv/Vol/Dec 1969/361.2 mln/918

12:30 pm : The major market averages have moved back towards their best levels of the session, with the Dow and S&P holding 0.5% gains.

Precious metals are trading near their worst levels of the session with gold down close to $10 near 1537 per ounce and silver off $0.20 near $36.55 per ounce. The weakness in the complex comes despite modest gains during overnight trade. Gold miner Newmont Mining (NEM 53.16, -0.28) and silver miner Silver Wheaton (SLW 33.46, -0.19) are both seeing losses of 0.5%.DJ30 +68.98 NASDAQ +8.59 SP500 +7.11 NASDAQ Adv/Vol/Dec 1656/801.0 mln/797 NYSE Adv/Vol/Dec 2007/329.2 mln/874

12:00 pm : The major market averages have eased off their best levels of the day, but still hold solid gains. The S&P and Dow lead the advance with gains of 0.4% while the Nasdaq trails with a 0.3% gain.

The S&P 500 Technology Index has slipped into negative territory, seeing fractional losses for the session. Despite a plethora of positive comments regarding yesterday's announcement of the iCloud, shares of Apple (AAPL 334.29, -3.75) are among the worst performers in the technology space as they trade down close to 1.1%. The stock has been stuck in a range between $330 and $360 throughout most of 2011 and today's weakness brings the price within a couple dollars of the year's lower bound.DJ30 +46.62 NASDAQ +6.58 SP500 +5.12 NASDAQ Adv/Vol/Dec 1592/701.4 mln/854 NYSE Adv/Vol/Dec 1965/290.2 mln/886

11:30 am : The major market averages trade just off their best levels of the session as the S&P 500 leads today's advance with a gain of 0.5%.

Telecom is the only sector in the S&P 500 trading in negative territory, currently holding a small loss of 0.2%. Sprint (S -0.18) is leading today's decline after being downgraded to sell from hold at Stifel Nicolaus. The reason for the downgrade is being attributed to Sprint's Network Vision and 4G strategy being more complicated, and potentially taking a lot more time and money than investors are currently anticipating. The stock is lower by more than 3.0% on the news. DJ30 +60.54 NASDAQ +9.92 SP500 +6.74 NASDAQ Adv/Vol/Dec 1739/569.2 mln/677 NYSE Adv/Vol/Dec 2106/242.1 mln/717

11:00 am : The major market averages sit at their best levels of the session with all three seeing gains of close to 0.6%.

The S&P 500 Consumer Discretionary Index is the best performing component of the S&P 500, trading higher by 1.1%. Shares of Cablevision (CVC 35.58, +1.46) are leading the sector's advance, trading up close to 4.3%, after the company announced plans of a leveraged spin-off of AMC Networks. As part of the plan, each Cablevision shareholder will receive one share of AMC Networks for every four shares of Cablevision stock they own.DJ30 +76.29 NASDAQ +16.12 SP500 +8.47 NASDAQ Adv/Vol/Dec 1791/445.7 mln/576 NYSE Adv/Vol/Dec 2191/194.7 mln/601

10:30 am : Crude continues to show notable volatility this morning ahead of OPEC's meeting tomorrow. After falling over 1% after pit trading began to new session lows of $97.81, crude has recovered most of its losses in recent trade and is now down 0.3% at $98.70/barrel

Natural gas trended higher shortly after pit trading opened and pushed into positive territroy. But after hitting current session highs of $4.85/MMBtu at the top of the hour, it dropped 1.2% over the next seven minutes to $4.79. After trading in a tight range over the last 25 minutes, the energy component is down 0.7 at $4.79/MMBtu

In the precious metals space, gold is showing little action, while siler is back near the $37 level. Gold futures have been chopping around the unchanged line this morning and is currently down 0.03% at $1546.80/oz. Silver has been in positive territory all session. It hit session highs of $37.52/oz. in early morning trade and has shown a general downtrend since. In current activity, it's up 0.7% at $37.04/oz.DJ30 +64.56 NASDAQ +12.05 SP500 +6.95 NASDAQ Adv/Vol/Dec 1739/313.0 mln/571 NYSE Adv/Vol/Dec 2156/139.0 mln/588

10:00 am : The major market averages have eased off their opening levels, but still trade higher for the session. The Dow and S&P lead the way with 0.3% gains while the Nasdaq lags with a 0.1% advance.

Shares of International Paper (IP 30.00, +0.35) and Temple-Inland (TIN 29.63, +8.62) are in focus today after International Paper made a $30.60 per share bid for Temple-Inland. The unsolicited bid was quickly rejected with Temple-Inland saying it 'grossly undervalues' the company despite being a 46% premium to Monday's closing price. Other packaging/paper stocks such as Boise (BZ 7.99, +0.52) and Packaging Corp. of America (PKG 28.50, +1.67) are seeing a positive response to the news. DJ30 +39.92 NASDAQ +4.17 SP500 +4.26 NASDAQ Adv/Vol/Dec 1650/101.3 mln/493 NYSE Adv/Vol/Dec 2101/65.2 mln/556

09:45 am : The major market averages are holding modest gains at the open with all three of the major indices trading higher by close to 0.4%. Financials are leading the advance, trading up 0.9% while energy (+0.8%) and consumer discretionary (+0.8%) are also strong. Today's events that may impact today's trade include the $32 billion 3-yr note auction at 1 p.m. ET, the release of consumer credit at 3 p.m. ET, and Fed Chairman Bernanke's speech on "The U.S. Economic Outlook" at 3:45 pm ET.DJ30 +46.13 NASDAQ +7.50 SP500 +5.72

09:14 am : [BRIEFING.COM] S&P futures vs fair value: +7.70. Nasdaq futures vs fair value: +9.30. Equity futures are pointing to modest gains at the open following yesterday's attempt by International Paper to buy Temple-Inland for $30.60 per share. The unsolicited bid was rejected, but both stocks are pointing to strong gains in pre-market trade. Bond traders are eagerly anticipating today's $32 billion 3-yr note auction as yields across the complex continue to hover near their lowest levels since early December. Consumer credit is the lone data point, and will be released at 3 p.m. ET.

08:59 am : [BRIEFING.COM] S&P futures vs fair value: +6.50. Nasdaq futures vs fair value: +7.80. Treasuries moved to their worst levels of the session at the start of trading in the U.S. as sellers ran the 10-yr yield back up to yesterday's high of 3.04%. The yield has since eased from its best levels but still remains elevated near 3.025%. The light selling comes ahead of this afternoon's Treasury auction that will see $32 billion of 3-yr supply hitting the market. Other auctions this week include tomorrow's $21 billion 10-yr reopening and Thursday's $13 billion 30-yr reopening. Yield curve steepening continues with the 2-10-yr spread wider at 259.5.

08:28 am : [BRIEFING.COM] S&P futures vs fair value: +6.20. Nasdaq futures vs fair value: +7.50. Overnight action was generally positive with most of the major Asian indices (Nikkei +0.7%, Hang Seng -0.3%, Shanghai +0.6%) closing higher, and European markets (FTSE +0.2%, CAC +0.4%, DAX +0.5%) seeing modest gains at midday. Japanese shares ended a three-day losing streak as automakers buoyed the Nikkei. Isuzu Motors and Toyota Motor added 3.1% and 2.2% respectively. Shares of embattled Tokyo Electric Power gained 4.4% after yesterday's 28% slide. The Hang Seng slipped 0.3% as bank stocks were under pressure on fears of a possible interest rate hike by the People's Bank of China. A report out last night suggested the central bank would hike its benchmark interest rate 25 basis points and its reserve requirement ratio 50 basis points this weekend. Shares in Shanghai finished up 0.6% despite the report as rare earth miners saw limit up gains of 10%. The Reserve Bank of Australia held its benchmark interest rate steady at 4.75%, and Australian shares responded with a loss of 0.1% for the session.

European markets are seeing modest gains at midday with miners Rio Tinto and BHP Billiton up 1.3% and 0.5% respectively in Britain. Financials are holding their own in Germany with Allianz up 1.0% and Commerzbank higher by 0.5%. In France, steelmaker ArcelorMittal is among the top performers, gaining 1.2%. Market participants continue to follow comments from the European Central Bank, European Union, and International Monetary Fund for any clues as to what the second Greece bailout package will look like.

07:59 am : [BRIEFING.COM] S&P futures vs fair value: +5.50. Nasdaq futures vs fair value: +6.80. Equity futures are pointing to a modestly higher open as strength in Asia has spilled over into European and U.S. trading. Following yesterday's close on Wall Street, International Paper made an unsolicited $30.60 per share offer for Temple-Inland only to see it rejected by the company. The offer represented a 46% premium to Monday's closing price. Treasuries are weaker as traders move into riskier assets with the yield on the 10-yr rising just over a basis point to 3.016%. The dollar index has slipped to its lowest levels in a month as it looks to hold the 73.60 area. All is quiet on the Greece front as market participants continue to wait on a second bailout package for the country. Economic data is limited to consumer credit which will be released at 3 p.m. ET.

06:44 am : [BRIEFING.COM] S&P futures vs fair value: +7.00. Nasdaq futures vs fair value: +10.00.

06:44 am : Nikkei...9442.95...+62.60...+0.70%. Hang Seng...22868.67...-80.90...-0.40%.

06:44 am : FTSE...5880.83...+17.70...+0.30%. DAX...7132.53...+48.00...+0.70%.

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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