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 Post subject: June 9th Thursday 2011 Emini TF ($TF_F) points +2.20
PostPosted: Thu Jun 09, 2011 10:56 pm 
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Joined: Sat Jan 10, 2009 2:06 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:
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click on the above image to view today's trading summary

Trade Performance for Today: +2.20 points or $220.00 dollars in the Russell 2000 Emini TF ($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=890.

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 - Stocks Rally After Six-Session Losing Streak
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click on the above image to view today's price action of key markets

By Ken Sweet
June 9, 2011: 6:03 PM ET

NEW YORK (CNNMoney) -- Stocks snapped a six-day losing streak on Thursday, with banks, utilities and energy shares leading the advance.

The gains offered some welcome relief for Wall Street investors, who have been feeling the heat during the longest losing streak since July 2010.

"We've gotten to the point of being oversold," said Michael James, senior equity trader with Wedbush Morgan Securities.

The Dow Jones industrial average (INDU) gained 75 points, or 0.6%, to close at 12,124; the S&P 500 (SPX) added 9 points, or 0.4%, to 1,289; and the Nasdaq Composite (COMP) rose 9.5 points, or 0.4%, to end at 2,685.

DuPont (DD, Fortune 500), JPMorgan Chase (JPM, Fortune 500), and Chevron (CVX, Fortune 500) were among the biggest gainers on the Dow. Of the 30 Dow components, only four members posted losses.

Shares of Wells Fargo (WFC, Fortune 500) and Morgan Stanley (MS, Fortune 500) were among the biggest gainers on the S&P 500. Bank stocks are in recovery mode, after falling between 8% and 12% in the past month.

Health care stocks were also among the most solid gainers, led by shares of the managed care companies Aetna (AET, Fortune 500), UnitedHealth (UNH, Fortune 500) and Cigna (CI, Fortune 500).

Still, market sentiment remains pessimistic. The Dow and S&P 500 are still on pace to post their sixth-consecutive weekly loss.

* 3 cross currents - StockTwits

Analysts said trading will likely remain choppy as uncertainty continues to weigh on investors' minds.

"Until we get through the next few weeks and start to see additional economic data, and see what the Fed does in respect to QE2 or a successor to QE2, we're going to be in a period of disappointing news and heightened uncertainty," said Bruce McCain, chief investment strategist at Key Private Bank.

Trading volume was also light, with slightly more than 3 billion shares traded on the New York Stock Exchange, another sign that Thursday's rally might be short lived.

"There's certainly no conviction in this market based on the volume we have," said Ryan Detrick, senior technical analyst with Schaeffer's Investment Research.

Stocks fell Wednesday, as economic concerns weighed on material stocks like Alcoa (AA, Fortune 500).

Economy: The Labor Department released its weekly initial jobless claims data, showing that 427,000 people applied for unemployment benefits last week. That was slightly higher than expected, and marked the ninth straight week that the figure stayed above 400,000.

* Video - 2 million government jobs at stake

The government also issued its monthly report on the U.S. trade balance, showing the gap narrowed to $43.7 billion in April, instead of the expected widening.

Investors also got the Federal Reserve's "Flow of Funds" data, which showed Americans' net worth fell by $16.4 trillion from its peak in spring 2007.

Companies: Citigroup (C, Fortune 500) reported a data breach of roughly 3% -- or 210,000 -- of the bank's online accounts in North America. Shares of Citi rose 3%.

The Securities Exchange Commission is reportedly investigating Goldman Sachs' involvement in Libya. Goldman (GS, Fortune 500)'s stock gained 1.5% Thursday.

Shares of Fusion-io (FIO) surged 18% in their public debut. Fusion-io priced its IPO at $19 a shares -- above its estimated price range.

Private-equity backed Avaya filed for a $1 billion initial public offering shortly after the closing bell.

J.M. Smucker (SJM, Fortune 500) shares rose 2%, after the jam and jelly maker reported a fourth-quarter profit that topped forecasts by a penny per share.

Shares of Men's Wearhouse (MW) rose 5%, after the company reported earnings more than doubled from a year ago late Wednesday.

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

Oil for July delivery gained $1.19, or 1.2%, to $101.93 a barrel. On Wednesday, oil prices jumped nearly 2% after OPEC failed to reach an agreement on crude production levels.

Gold futures for August delivery rose $4 to $1,547.70 an ounce. Silver prices jumped 2% to $37.32 an ounce.

Commodities have held up pretty recently, which is good sign for the economic recovery, McCain said.

"I don't think you would be seeing quite as much strength there if it didn't bode well for some sort of economic rebound, at least in the shorter term," he said.

Shares of Chevron, Exxon Mobil (XOM, Fortune 500) and Freeport McMoran (FCX, Fortune 500) were among the beneficiaries of higher commodity prices Thursday.

* Fed up with Treasury yields? Try dividend stocks

Bonds: The price on the benchmark 10-year U.S. Treasury fell, pushing the yield up to 2.98% from 2.96% late Wednesday.

World markets: European ended Thursday's session broadly higher. Britain's FTSE 100 rose 0.8%, the DAX in Germany gained 1.3% and France's CAC 40 rose 1%.

The European Central Bank left its key interest rate unchanged at 1.25%, as was widely expected.

Asian markets ended the session mixed. The Shanghai Composite dropped 1.7% and the Hang Seng in Hong Kong shed 0.2%, while Japan's Nikkei added 0.2%.

Image

Image Yahoo! Finance - Market Update

4:30 pm : The stock market settled shy of its session high, but it still managed to score a gain, which successfully snapped a six-session losing streak.

There weren't really any inspiring headlines this morning, but the growing belief that stocks are near-term oversold drove some relief buying. In turn, participants shrugged off news that initial jobless claims for the week ended June 4 totaled 427,000, which is greater than the 423,000 initial claims that had been expected among economists polled by Briefing.com. The latest tally was little changed from the prior week's count.

Although U.S. exports increased by just 1.3% in April after they had climbed by 4.9% in March, the U.S. trade deficit for April totaled $43.7 billion, which isn't quite as deep as the $48.7 billion deficit that had been broadly expected. The latest deficit is also less than the downwardly revised March deficit of $46.8 billion.

There was little corporate news to trade today, but Texas Instruments (TXN 32.91, +0.24) came into focus for cutting its guidance then clarifying that the revision was due to softer demand from a single wireless customer. Fellow semiconductor play National Semiconductor (NSM 24.58, -0.01) failed to see much action ahead of its quarterly report as participants generally ignored the rest of the tech space. A general lack of interest among tech plays left the sector to muster a gain of merely 0.1%. Listlessness in the space also hampered the Nasdaq, which ended the day with only a modest gain.

A bullish USDA report bolstered strength in shares of agricultural chemical and product companies. That helped the broader materials sector climb more than 2% before it drifted into the close to settle with a 1.6% gain.

Financials finally made a strong move higher after falling to a 2011 low in the prior session. The sector's 1.2% gain came in response to strength among both banking issues and insurance plays.

The improved tone among market participants this session took both the Dow and S&P 500 to gains of little more than 1%. The pair spent most of the afternoon stuck in a narrow trading range before slowly surrendering some of their gains into the close.

The stock market's late slip helped relieve Treasuries from some selling. Treasuries had set session lows shortly after the early afternoon release of results from an auction of 30-year Bonds. The auction drew a bid-to-cover ratio of 2.63, dollar demand of $34.2 billion, and an indirect bidder participation rate of 38.4%.

Market participants spent most of the session giving little consideration to a stronger dollar, which was helped by weakness in the euro after European Central Bank President Trichet stated the need to remain vigilant in an environment of upward inflation pressure and economic uncertainty. The ECB opted to keep its target interest rate unchanged at 1.25%.

Advancing Sectors: Materials (+1.6%), Energy (+1.2%), Financials (+1.2%), Health Care (+1.0%), Consumer Discretionary (+0.8%), Industrials (+0.7%), Consumer Staples (+0.5%), Tech (+0.1%), Utilities (+0.1%)
Declining Sectors: Telecom (-0.1%)DJ30 +75.42 NASDAQ +9.49 NQ100 +0.2% R2K +0.6% SP400 +0.5% SP500 +9.44 NASDAQ Adv/Vol/Dec 1599/1.71 bln/1002 NYSE Adv/Vol/Dec 1904/908 mln/1076

3:30 pm : August gold finished higher by 0.3% to $1453.00 per ounce, while July silver closed up 2% to $37.36. Despite strength in the dollar, both precious metals rallied on the heels of commentary from ECB President Jean Claude Trichet that implied the bank will hike rates in July -following today's decision to keep them unchanged. Both metals spent the remainder of the session pulling back from those highs, with gold finishing with only modest gains.

July corn futures rallied for 2.9% to close at $7.86 per bushel, after trading to a new all-time high at $7.94 per bushel. This morning's USDA report showed inventory expectations for 2011/12 crop season that fell 22.8% to 695 mln bushels.

July crude oil settled higher by 1.2% to finish at $101.93 per barrel. The rally in crude oil was part of the broad based rally in the commodities sector, but was also underpinned by supply concerns following yesterday's OPEC meeting. July natural gas shed 3.6% to end at $4.67 per MMBtu. The catalyst for the sell-off in natural gas futures was this morning's inventory data, which showed a larger-than-expected build. DJ30 +111.10 NASDAQ +17.00 SP500 +12.57 NASDAQ Adv/Vol/Dec 1788/1.3 bln/784 NYSE Adv/Vol/Dec 2044/560.8 mln/906

3:00 pm : Corporate announcements have been lacking in the last 24 hours, but Texas Instruments (TXN 33.08, +0.41) made headlines with news that it trimmed its forecast for the second quarter due to lower demand from one of its wireless customers. The announcement precedes the latest quarterly report from peer National Semiconductor (NSM 24.61, +0.02), which is scheduled to post results after the close. Only a handful of other companies will post results this evening.DJ30 +131.23 NASDAQ +19.60 SP500 +14.75 NASDAQ Adv/Vol/Dec 1743/1.17 bln/832 NYSE Adv/Vol/Dec 2019/515 mln/931

2:30 pm : The S&P 500 and the Dow continue to trade in a tight range, but the Nasdaq is gradually closing the gap between itself and its two counterparts. Although the Nasdaq has managed to slowly march higher, large-cap tech plays remain a source of weakness for the average.DJ30 +117.76 NASDAQ +16.98 SP500 +13.33 NASDAQ Adv/Vol/Dec 1759/1.09 bln/783 NYSE Adv/Vol/Dec 2005/480 mln/919

2:00 pm : The stock market has become stuck in a rather narrow trading range that runs along session highs. The pause for the past couple of hours comes after stocks made a strong push higher in morning trade, but now look for a catalyst to take them another leg higher.

Meanwhile, Treasuries continue to trade with weakness near session lows, but the dollar is slowly reclaiming some of the gain that it had surrendered a few hours ago. DJ30 +123.89 NASDAQ +17.34 SP500 +13.52 NASDAQ Adv/Vol/Dec 1707/1.00 bln/814 NYSE Adv/Vol/Dec 1979/440 mln/931

1:30 pm : Results from the latest auction of 30-year Bonds were posted just 30 minutes ago. Treasuries have sold off in response. In turn, the yield on the 30-year Bond is now at 4.24% while the yield on the benchmark 10-year Note is back above 3.00%.

Specific to the auction, the bid-to-cover ratio came in at 2.63. Dollar demand hit $34.2 billion. The indirect bidder participation rate was 38.4%. For comparison, the prior auction had a bid-to-cover of 2.43, dollar demand of $38.9 billion, and an indirect bidder participation rate of 33.0%. An average of the past six sessions gives a bid-to-cover of 2.70, dollar demand of $37.6 billion, and an indirect bidder rate of 41.9%. DJ30 +115.38 NASDAQ +15.23 SP500 +12.33 NASDAQ Adv/Vol/Dec 1716/940 mln/804 NYSE Adv/Vol/Dec 1993/410 mln/914

1:05 pm : Relief buying in the wake of a string of losses has stocks up sharply and headed for their best performance of the month. The move has been mostly broad based.

The stock market extended a string of losses in the prior session to log its lowest close in nearly three months, but the notion that stocks have become oversold in the near term brought buyers back into the fold this morning. That said, concerns about economic growth remain, especially amid another underwhelming weekly initial jobless claims tally (427,000 initial claims were compiled for the week ended June 4).

The broad market began the day near the neutral line, but natural resource plays showed early leadership. Materials stocks have since rallied so that the sector now trades with a 2.0% gain. Agricultural chemicals and products plays have been bolstered by a bullish crop report from the USDA.

Financials have finally found favor among market participants. The sector's 1.4% gain comes amid strength in both banks and insurance plays. AIG (AIG 28.25, +0.93) is especially strong following an analyst upgrade.

Large-cap tech has had a hard time attracting interest, however. Its relative weakness has hampered the Nasdaq, which currently trades with a gain that is only about half of what the Dow and S&P 500 have achieved.

Semiconductor giant Texas Instruments (TXN 33.09, +0.42) has managed to trade higher, though. The stock's ascent comes after the firm clarified that a cut to its financial forecast is due to fewer orders from a single wireless customer.

The dollar is up today, but off of its session high. After trading with moderate weakness this morning, it is now up against the yen, sterling pound, and the euro. The greenback began to garner support as European Central Bank President Trichet stated the need to remain vigilant in an environment of upward inflation pressure and economic uncertainty. The ECB opted to keep its target interest rate unchanged at 1.25%. DJ30 +113.14 NASDAQ +14.42 SP500 +11.94 NASDAQ Adv/Vol/Dec 1718/860 mln/783 NYSE Adv/Vol/Dec 1986/375 mln/905

12:30 pm : In 30 minutes traders get their hands on results from the latest auction of 30-year Bonds. The 30-year Bond is currently wrestling with moderate selling pressure, which has taken its yield up to 4.20%. Meanwhile, the benchmark 10-year Note has been clipped so that its yield is now up to 2.98%.

Outside of U.S. debt, the United Kingdom's 10-year Gilt currently yields 3.15% while Germany's 10-year Bund now yields 3.03%. Meanwhile, Spain's 10-year Note currently yields 5.44% while Italy's 10-year Note yields 4.81%. DJ30 +120.30 NASDAQ +12.90 SP500 +12.33 NASDAQ Adv/Vol/Dec 1731/730 mln/749 NYSE Adv/Vol/Dec 2012/340 mln/8688

12:00 pm : Both the Dow and the S&P 500 have stretched to gains of 1%. Their strength remains broad.

Among the 30 blue chips that make up the Dow, only Intel (INTC 21.77, -0.05), Microsoft (MSFT 23.93, -0.01), Disney (DIS 39.15, -0.08), and Verizon (VZ 35.55, -0.35) are in the red. Meanwhile, in the broad-based S&P 500, all 10 major sectors are in higher ground, although gains among telecom (+0.1%) and utilities (+0.3%) remain limited. DJ30 +117.19 NASDAQ +11.04 SP500 +12.74 NASDAQ Adv/Vol/Dec 1619/675 mln/845 NYSE Adv/Vol/Dec 1884/290 mln/967

11:30 am : The Nasdaq has pulled back in recent action. In turn, it now trades with a gain that is less than half of what its counterparts have achieved. The Nasdaq's relative weakness comes as the likes of Apple (AAPL 331.93, -0.31), Google (GOOG 517.60, -1.57), and Microsoft (MSFT 23.90, -0.04) -- all large-cap tech plays -- trade with little support.DJ30 +91.69 NASDAQ +8.61 SP500 +9.39 NASDAQ Adv/Vol/Dec 1607/575 mln/822 NYSE Adv/Vol/Dec 1862/250 mln/968

11:00 am : The materials sector has rallied ahead to a 1.5% gain, which makes it this session's top performing sector. The space is currently led by the likes of Monsanto (MON 69.47, +1.85). The agricultural products company has been helped by a bullish USDA crop report that was released earlier this morning.

Financials have also extended their recent run. In turn, the sector is now up 1.1%, second only to materials. Banks have been a big driver of the move. Strength in that space has the SPDR KBW Bank ETF (KBE 23.36, +0.26) up nicely. DJ30 +92.56 NASDAQ +10.81 SP500 +9.87 NASDAQ Adv/Vol/Dec 1637/445 mln/736 NYSE Adv/Vol/Dec 1869/198 mln/930

10:35 am : Crude oil is extending gains today and is showing some volatility this morning, although in a small range (between ~$100.80-101.80). Crude lost steam followinmg commentary earlier this morning from ECB President Jean Claude Trichet, but has since recovered most of that pullback and is now 0.8% higher at $101.450/barrel

Natural gas has been on a steady trend higher all morning adn ran up to new session highs of $4.95/MMBtu and was at $4.94 ahead of inventory data. Following the data, which showed a build of 80 bcf versus consensus of 75 bcf, natural gas futures fell sharply to $4.78; now at $4.83 -0.3%.

Gold futures have traded in a tight range this morning and are currently flat at $1538.70. Silver has traded higher all morning and is just off recently hit highs of $37.39. In current activity, silver is 1.4% higher at $37.13/oz.

Corn futures futures rise sharply at the open a couple minutes ago, hitting new all-time highs of $7.94 following this morning's bullish USDA report. Wheat is 1.5% higher at $7.59 and soybeans are up 0.3% at $14.06/bu.DJ30 +64.59 NASDAQ +5.78 SP500 +7.70 NASDAQ Adv/Vol/Dec 1532/303.5 mln/748 NYSE Adv/Vol/Dec 1822/140.0 mln/898

10:00 am : A sudden flurry of buying interest among financials has taken the sector up to a 0.8% gain. The move comes after the sector closed at a 2011 low yesterday. AIG (AIG 27.86, +0.54) is a top performer in the financial space, thanks partly to an upgrade by analysts at Deutsche Bank.

Meanwhile, utilities and telecom stocks -- both defensive in nature -- are struggling to find support this morning. The two sectors are down 0.2% and 0.3%, respectively. Electric utilities like Duke Energy (DUK 18.40, -0.06) and Southern Co (SO 39.35, -0.23) are weighing on the utilities space while Verizon (VZ 35.63, -0.27) has quickly become a heavy burden on the telecom complex. DJ30 +55.13 NASDAQ +3.94 SP500 +6.77 NASDAQ Adv/Vol/Dec 1126/130 mln/1035 NYSE Adv/Vol/Dec 1376/72 mln/1260

09:45 am : Despite a slightly positive tone to premarket trade, early action among the major equity averages is rather mixed. The dollar continues to trade with a solid 0.5% gain against a collection of competing currencies, though.

Natural resource plays are showing early strength; materials stocks (+0.5%) and energy stocks (+0.5%) are sporting the best gains in the early going. Telecom (-0.3%) is in the worst shape. DJ30 +27.47 NASDAQ -2.48 SP500 +2.42 NASDAQ Adv/Vol/Dec 1279/28 mln/714 NYSE Adv/Vol/Dec 1452/25 mln/583

09:15 am : S&P futures vs fair value: +2.60. Nasdaq futures vs fair value: +2.20. Stock futures suggest that a slightly higher start is in order for today's trade. That would offer stocks at least a modicum of relief after a string of losses left the market to book its lowest close in more than two months yesterday. This morning's bid comes despite mixed action abroad and a rather underwhelming weekly initial jobless claims count. The trade deficit did show improvement, though. Stock futures are also holding gains in the face of a stronger dollar, which has made its way to a 0.5% gain against a basket of major foreign currencies. Most of the greenback's gain is owed to weakness in the euro, which is under pressure following comments from European Central Bank Trichet regarding the need to remain vigilant in an environment of upward inflation pressure and economic uncertainty.

09:05 am : S&P futures vs fair value: +3.70. Nasdaq futures vs fair value: +3.00. Germany's DAX is currently up with a fractional gain amid leadership from automakers BMW and Volkswagen. BASF, Adidas, and SAP AG have also contributed to the move, but Commerzbank has been a drag, despite an upgrade from analysts at Citigroup. France's CAC is currently flat. Technip, Alstrom, Schneider Electric, and Suez Environnement have offered positive leadership. Financial issues Credit Agricole, BNP Paribas, and Societe Generale are all weak, however. Financial plays like Lloyds Group (LYG), Royal Bank of Scotland (RBS), and Barclays (BCS) are the three worst performers by percent lost on Britain's FTSE, which has fallen to a 1% loss. Pearson Plc is outperforming. The latest trade data indicate that the United Kingdom's trade deficit totaled 7.39 billion pounds, which is an improvement from the 7.71 billion pounds reported in the previous month. Britain's central bank announced earlier this morning that it will keep its benchmark interest rate at 0.5% and its asset purchase plan at 200 billion pounds. The sterling pound has surrendered a slight gain from earlier to that it now trades fat against the greenback. Meanwhile, the euro has reversed course in the past hour so that it is down 0.5% against the dollar. The European Central Bank opted to leave its target interest rate at 1.25%, as had been expected. During his conference call, ECB President Trichet confirmed that energy prices are putting upward pressure on inflation. He also noted that economic uncertainty remains elevated, so the ECB's policy will remain accommodative and strong vigilance is warranted.

Overnight action in Asia saw mainland China's Shanghai Composite drop another 1.7%. Banks and other financial issues were key sources of weakness, given ongoing concerns about further interest rate increases. Hong Kong's Hang Seng shed 0.2% as mining plays encountered selling pressure. Aluminum Corp of China was hit with particularly sharp selling pressure as traders opted to take profits following the stock had surged 10% in the prior session. Japan's Nikkei eked out a 0.2% gain. Fast Retailing offered price support, but Tokyo Electric Power continued to encounter selling pressure. Japan reported that its first quarter GDP fell by 0.9%, just as it had in the fourth quarter.

08:35 am : S&P futures vs fair value: +3.50. Nasdaq futures vs fair value: +2.50. Stock futures are showing little reaction to the latest dose of data. Initial jobless claims for the week ended June 4 totaled 427,000, which is up just 1,000 from the prior week's upwardly revised tally and greater than the 423,000 initial claims that had been expected, on average, among economists polled by Briefing.com. Notably, continuing claims fell to 3.68 million from 3.75 million. Separately, the trade deficit for April totaled $43.7 billion, which isn't quite as deep as the $48.7 billion deficit that had been broadly expected. The latest deficit is also less than the downwardly revised March deficit of $46.8 billion. Exports from the U.S. increased by 1.3% during April after they had climbed by 4.9% in March.

08:05 am : S&P futures vs fair value: +3.20. Nasdaq futures vs fair value: +3.00. Stocks appear to be getting some relief after suffering a string of losses in recent sessions. The bid comes despite mixed action abroad and no changes to monetary policy by either the Bank of England or the European Central Bank. Both the euro and the sterling pound are holding on to fractional gains against the dollar in the wake of the decision. The euro could see some increased volatility when ECB President Trichet begins his press conference at the bottom of the hour. International trade data will also be posted at the bottom of the hour, along with the latest weekly initial jobless claims count. Results from an auction of 30-year Bonds will be reported at 1:00 PM ET. There hasn't been a whole lot of corporate news made since the prior session's close, although Texas Instruments (TXN) lowered its second quarter forecast. The stock initially sold off in after-hours trade, but it rebounded during a conference call. During the call, the company noted that its guidance was reduced due to lower demand from a single wireless customer. Shares of TXN were last quoted with a fractional gain ahead of the open.

07:49 am : [BRIEFING.COM] S&P futures vs fair value: +3.20. Nasdaq futures vs fair value: +4.00.

07:49 am : Nikkei...9467.15...+17.70...+0.20%. Hang Seng...22609.83...-51.80...-0.20%.

07:49 am : FTSE...5813.33...+4.40...+0.10%. DAX...7081.47...+21.20...+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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