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 Post subject: June 10th Friday 2011 Emini TF (No Trades Personal Day Off)
PostPosted: Sat Jun 11, 2011 6:43 am 
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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)

Quote:
No trades today because it was a schedule personal day off and will take it easy next week too although I may do a few trades. I'll return to normal trading Monday June 20th.

Trade Performance for Today: +0.00 points or $0.00 dollars in the Russell 2000 Emini TF ($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=893.

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 - Dow, S&P Slide For Sixth Week
Attachment:
061011-Key-Price-Action-Markets.png
061011-Key-Price-Action-Markets.png [ 500.43 KiB | Viewed 248 times ]

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

By Ken Sweet, contributing writer June 10, 2011: 4:58 PM ET

NEW YORK (CNNMoney) -- Stocks retreated broadly on Friday, with the Dow ending below 12,000 for the first time in three months and the Nasdaq erasing all of its gains for the year.

Insurance and financial stocks started the selling spree, but it quickly spread to all sectors. Commodities were hit hard. Oil and silver prices slumped nearly 3%.

Late in the session, bank stocks turned higher, helping the broader market pare losses. The Federal Reserve issued a proposal to increase capital requirements on large banks by 5%, which was far less than investors feared.

Shares of Bank of America (BAC, Fortune 500) and Goldman Sachs (GS, Fortune 500) rose 1.5% each, while Citigroup (C, Fortune 500) and JPMorgan Chase (JPM, Fortune 500) also edged higher.

But the rise in bank stocks was simply not enough to help the broader market. The Dow Jones industrial average (INDU) fell 172 points, or 1.4%, to end at 11,952.

Travelers (TRV, Fortune 500) was the biggest drag on the blue-chip index. The insurance company warned that it faced $1 billion in catastrophic losses related to the storms and floods in the Midwest and South, and said it would slow its stock buyback program.

The selling spilled over to other insurance stocks. Allstate (ALL, Fortune 500), Metlife (MET, Fortune 500) and Principal Financial (PFG, Fortune 500) were all down 1% or more.

The S&P 500 (SPX) slid 18 points, or 1.4%, to close at 1,271; and the Nasdaq Composite (COMP) fell 41 points, or 1.5%, to 2,644.

"There's a lot of emotion in this market at the moment, and the conversations among traders are nearly all leaning toward the bear side," said Frank Davis, director of sales and trading with LEK Securities.

Friday's retreat comes a day after stocks snapped a six-day losing streak.

Sentiment remains decidedly pessimistic. "A lot of us shook our heads as the market headed higher, despite higher energy prices, the economy and the turmoil going on abroad," Davis said.

The Dow and S&P 500 fell for the sixth-consecutive week.

* Junk bonds hit a speed bump

Currencies and Bonds: The dollar jumped more than 1% against the euro and gained 0.6% versus the British pound. The greenback edged lower against the Japanese yen.

The price of the benchmark 10-year U.S. Treasury rose with the yield at 2.98% compared to 2.96% late Thursday.

Influential bond investor Bill Gross appears to be re-entering the U.S. Treasury market, albeit slowly.

Gross' PIMCO Total Return Fund (PTTRX) increased its holdings of U.S. Treasuries to 5% last month, from 4% in April, according to Pimco's website.

Earlier in the year, Gross had been shorting Treasuries, saying artificially low yields had made Treasuries an unattractive place to invest.

Bond prices have been rising over the past two months as investors sought some safety amid the recent stock slump.

* BlackRock CEO: Stick with stocks

Companies: Toyota (TM) released its forecast for fiscal year 2012. The auto giant said the fallout from the March earthquake and tsunami will continue to hurt sales and cause supply disruptions across the industry.

In its report, Toyota said it could lose $1.6 billion in profits in the current fiscal year. The automaker said it also expects consolidated net income to drop 31% to $3.4 billion in the next fiscal year.

Toyota also forecast operating income to drop about 35% for the next year, based on current exchange rates between the yen and the dollar.

Lululemon Athletica's (LULU) stock rose 4% after the maker of athletic clothing reported a profit that topped estimates and raised its outlook.

Shares of Fusion-io (FIO) extended their rally, rising 6%. Fusion-io made its public debut Thursday after raising $233.7 million through an initial public offering.

Online music streaming company Pandora said it would sell a total of 14.7 million shares through its previously announced IPO at a price range of $10-$12 a share.

Avaya, which makes telecom equipment, filed Thursday to raise up to $1 billion in a public offering. The company joins a crowd of tech companies rushing to take advantage of a friendly IPO climate.

Ally Financial, formerly the financial services arm of GM (GM, Fortune 500), has decided to delay its $5 billion initial public offering, according to reports. The company has been owned by U.S. taxpayers since GM was rescued by the government in the recession.

Economy: The government reported that import prices for May rose 0.4%, excluding oil. That comes after a 0.6% increase in the prior month.

Excluding agriculture, exports increased by 0.5%. That followed a 1.0% increase in April.

The Treasury Department reported that the federal budget deficit for May was $57.6 billion and $927.4 billion for the first eight months of the fiscal year.

* Dr. Copper on shaky ground - StockTwits

World markets: European stocks turned lower. Britain's FTSE 100 dropped 1.6%, the DAX in Germany fell 1.2%, while France's CAC 40 tumbled 1.9%.

China's monthly trade balance showed a wider surplus in May, although the rate of export growth slowed.

The world's second largest economy reported a $13.05 billion surplus in May, up from its $11.4 billion surplus recorded in April, China's General Administration of Customs said Friday.

Asian markets ended the session mixed. The Shanghai Composite rose nearly 0.1%, and Japan's Nikkei advanced 0.5%, but the Hang Seng in Hong Kong fell 0.8%.

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Image Yahoo! Finance - Market Update

4:10 pm : The major market averages ended the day just above their worst levels of the session after an attempt at an afternoon rally failed. The Nasdaq paced today's declines, slipping 1.5% while Dow and S&P each saw losses of 1.4%. Today marked the sixth consecutive week of losses for the major averages as they closed at their worst levels since mid-March.

The S&P 500 Energy Index was the worst performing of the 10 S&P sectors, closing down 1.9%. None of the stocks in the index closed in positive territory. Heavyweights Exxon Mobil (XOM 79.83, -1.35) and Chevron (CVX 99.67, -1.56) saw losses of 1.4% and 1.5% respectively.

Shares of Toyota Motor (TM 80.68, -1.24) ended down 1.5% after the company issued downside net income guidance for its full year 2012. The company announced it expects full year 2012 revenues of JPY280 billion, well below the Capital IQ consensus of JPY432 billion. Fellow Japanese automaker Honda Motor Corp. (HMC 36.75, -0.45) lost 1.2% on the news.

Financials saw a sharp reversal following reports that the Fed may require "Systemically Important Financial Institutions" to hold an additional 2.2%-2.5% capital buffer when previous reports suggested that number would be 3%. Heavyweights Wells Fargo (WFC 26.27, +0.05), Bank of America (BAC 10.80, +0.15), and Citigroup (C 37.92, +0.15) buoyed the turnaround.

Lululemon Athletica (LULU 89.94, +3.80) gained 4.4% after the company announced strong first quarter earnings. The company made $0.46 per share, topping the consensus estimate of $0.38 per share. Revenues climbed 35.1% YoY to $186.8 million, and the company issued upside guidance of of $0.42-$0.44 versus the Capital IQ consensus of $0.39. The company also raised full year 2012 guidance, seeing earnings per share of $2.10-2.16 and revenues of $915-$930 million.

Harbin Electric (HRBN 16.27, +0.79) closed up 5.1% after the company announced it received a letter from its Chairman and CEO, and Abax Global Capital, reaffirming their proposal to acquire the company for $24.00 per share in cash.

Treasuries finished off their best levels of the day, but still closed with gains. The 10-yr yield slipped below its 2.95% support for the third consecutive session, but was once again unable to close below that level. It finished the week at 2.971%.

The dollar index saw a strong gain today, finishing up close to 0.9% near 74.80. The euro closed just above its worst levels near 1.4340 after a differing of opinions between European Central Bank President Jean Claude Trichet and German Finance Minister Wolfgang Schauble regarding the new Greece rescue package weighed on the single currency.DJ30 -172.45 NASDAQ -41.14 SP500 -18.02 NASDAQ Adv/Vol/Dec 312/1.93 bln/1111 NYSE Adv/Vol/Dec 553/1.02 bln/2213

3:35 pm : Crude oil futures remained deep in the red in the second half of today's session, ultimately hitting session lows of $98.64/barrel. By the end of today's session, crude finished 2.6% lower at $99.30, not much above session lows.

Natural gas showed gains today, while the rest of the energy complex was in negative territory. After trend steadily higher for the majority of today's session, nat gas closed 1.7% higher.

Precious metals sold off sharply lower a few minutes after pit trading began. Gold recovered some of its losses and ended down $13.40 to $1529.20/oz. Silver didn't perform as well and continued to extend losses, ending $1.16 lower at $36.27/oz.DJ30 -138.88 NASDAQ -28.13 SP500 -13.18 NASDAQ Adv/Vol/Dec 361/1620 mln/1062 NYSE Adv/Vol/Dec 610/722.6 mln/2459

3:00 pm : The major market averages continue to trade lower by close to 1.0% as traders prepare for the week's final hour of trading.

Financials have climbed off their worst levels of the day following reports that the Fed may require 'Systemically Important Financial Institutions' to hold an additional 2.2%-2.5% capital buffer when previous reports suggested that number would be 3%. Heavyweights Wells Fargo (WFC 26.38, +0.16), Bank of America (BAC 10.91, +0.26), and Citigroup (C 38.08, +0.31) have all turned positive on the news.DJ30 -134.11 NASDAQ -27.93 SP500 -13.18 NASDAQ Adv/Vol/Dec 361/1.43 bln/1054 NYSE Adv/Vol/Dec 563/622.3 mln/2181

2:30 pm : The major market averages are off their session lows, but still holding losses of close to 1.1%. Stocks moved off their worst levels as the number was released, but that move is being attributed to reports that extra capital required for large financial institutions may be in the range of 2.2-2.5% rather than the 3% previously discussed. The Treasury deficit for May came in at $57.6 billion, which is well below the $135.9 billion deficit posted for the prior year. Economists polled by Briefing.com had expected, on average, that the deficit for May would come in at $59.0 billion.DJ30 -139.26 NASDAQ -30.46 SP500 -14.03 NASDAQ Adv/Vol/Dec 329/1.32 bln/1066 NYSE Adv/Vol/Dec 525/565.4 mln/2221

2:00 pm : The dollar index trades at its best levels of the session, pushing above 74.90. While this recent turnaround has not yet ended the dollar's slide, a move solidly above the 76.00 level should lead to further strength.

The euro trades at its worst levels of the day, down 180 pips near 1.4330. A differing of opinions between European Central Bank President Jean Claude Trichet and German Finance Minister Wolfgang Schauble regarding the new Greek rescue package is weighing on the single currency. Today's sell off has dropped the euro below its 50-day moving average with 1.43 support not too far away. Should that level fail look for a test of 1.4050. German PPI and euro zone current account readings are due out on Monday. Selling has knocked the pound below its 50- and 100- day moving averages as the currency trades on its session lows near 1.6225. Look for British public sector net borrowing to impact Monday's trade.

The yen has recovered most of its losses against the greenback, climbing back up to 80.25 per after briefly slipping below the 80.00 level. The Bank of Japan and Ministry of Finance continue to follow market patterns closely with a sustained move below the 80.00 level likely being a cause for action. Japan's trade balance will be released Sunday evening. The Aussie dollar is on its session low near 1.0530, trading down close to 95 pips. Today's sell off has pushed the Aussie to its lowest level in two weeks and near the critical 1.05 support level. A global slowdown will most likely haunt the currency that gained close to 14% from the mid-March G7 intervention in the yen until its May 1 high at 1.10.DJ30 -182.36 NASDAQ -41.36 SP500 -19.72 NASDAQ Adv/Vol/Dec 282/1.18 bln/1115 NYSE Adv/Vol/Dec 463/484.3 mln/2285

1:30 pm : The major market averages are back near their worst levels of the session, seeing losses of close to 1.3%.

Harbin Electric (HRBN 16.46, +0.98) is off its best levels of the session, but still higher by 6.3% after the company announced it received a letter from its Chairman and CEO, and Abax Global Capital, reaffirming their proposal to acquire the company for $24.00 per share in cash. It also announced that China Development Bank has agreed to provide a $400 million term loan to fund the acquisition.DJ30 -156.10 NASDAQ -36.67 SP500 -17.59 NASDAQ Adv/Vol/Dec 309/1.06 bln/1072 NYSE Adv/Vol/Dec 481/432.4 mln/2251

12:55 pm : The major market averages are off their worst levels, but are still seeing losses of 1.1% or more for the session.

The S&P 500 Financial Index is under pressure, trading down 1.6% and sporting the largest losses among the 10 S&P 500 sectors. Insurance giant Travelers (TRV 59.25, -1.83) is seeing the biggest drop among financials within the S&P 500 with the stock trading down 3.0% after announcing losses related to catastrophes in April and May are estimated at $1.0-$1.5 billion. Among other financials banking giants JP Morgan Chase (JPM 40.27, -0.71) and Wells Fargo (WFC 25.77, -0.45) are each down 1.7%.

Aside from financials, energy is the worst performing sector in the S&P 500, trading down 1.4%. Currently just three of the stocks in the S&P 500 Energy Index are trading in positive territory. Heavyweights Exxon Mobil (XOM 80.08, -1.10) and Chevron (CVX 99.68, -1.55) are seeing losses of 1.4% and 1.5% respectively.

Shares of Toyota Motor (TM 80.75, -1.17) are off 1.4% after the company issued downside net income guidance for its full year 2012. The company announced it is expecting full year 2012 revenues of JPY280 billion, well below the Capital IQ consensus of JPY432 billion. Fellow Japanese automaker Honda Motor Corp. (HMC 36.87, -0.33) is trading down 0.9% on the news.

Lululemon Athletica (LULU 90.31, +4.17) is higher by close to 4.9% after the company announced strong first quarter earnings. The company made $0.46 per share, topping the consensus estimate of $0.38 per share. Revenues climbed 35.1% YoY to $186.8 million, and the company issued upside guidance of of $0.42-$0.44 versus the Capital IQ consensus of $0.39. The company also raised full year 2012 guidance, seeing earnings per share of $2.10-2.16 and revenues of $915-$930 million .

Treasuries are off their best levels of the day, but seeing solid gains on the heels of today's sell off in equities. Buyers are flocking to the long bond as traders are willing to extend their durations in an effort to capture yield. At last look the 30-yr yield was down 4.5 basis points near 4.175%.DJ30 -132.26 NASDAQ -29.78 SP500 -14.59 NASDAQ Adv/Vol/Dec 320/972.5 mln/1047 NYSE Adv/Vol/Dec 525/394.9 mln/2181

12:30 pm : The major market averages hover just above their worst levels of the session, trading lower between 1.1% and 1.2%. Aside from financials, energy is the worst performing sector in the S&P 500, trading down 1.3%. Currently none of the stocks in the S&P 500 Energy Index are trading in positive territory.

Heavyweights Exxon Mobil (XOM 80.21, -0.97) and Chevron (CVX 99.80, -1.43) are seeing losses of 1.2% and 1.4% respectively.DJ30 -133.32 NASDAQ -32.00 SP500 -15.04 NASDAQ Adv/Vol/Dec 300/891.8 mln/1056 NYSE Adv/Vol/Dec 507/360.4 mln/2197

12:00 pm : Stocks are off their worst levels of the session, but are still sharply lower. All three of the major market averages are seeing losses of 1.2%.

Shares of Toyota Motor (TM 80.81, -1.11) are off 1.4% after the company issued downside net income guidance for its full year 2012. The company announced it is expecting full year 2012 revenues of JPY280 billion, well below the Capital IQ consensus of JPY432 billion. Fellow Japanese automaker Honda Motor Corp. (HMC 36.88, -0.32) is trading down 0.9% on the news.DJ30 -138.85 NASDAQ -31.58 SP500 -15.27 NASDAQ Adv/Vol/Dec 291/800.1 mln/1044 NYSE Adv/Vol/Dec 470/323.0 mln/2216

11:30 am : Treasuries have moved to their best levels of the session as U.S. equity markets continue to slide. All three of the major averages are at levels not seen since the days following the joint G7 intervention in the yen. The Nasdaq is now the weakest of the three major indices, trading down 1.3%

Today's flight to safety has Treasuries across the complex pressuring their recent highs, but they have so far been unable to push to new levels. Buyers are flocking to the long bond as traders are willing to extend their durations in an effort to capture yield. At last look the 30-yr yield was near 4.165%. The 2.95% support in the 10-yr yield continues to see tests of its strength as it now sits at 2.945%. This is the third consecutive session to see the 2.95% level violated. After swinging steeper in the early going the 2-10-yr spread is flatter for the session near 254.3.DJ30 -136.27 NASDAQ -33.66 SP500 -14.97 NASDAQ Adv/Vol/Dec 278/688.7 mln/1046 NYSE Adv/Vol/Dec 482/276.8 mln/2171

11:00 am : The major market averages trade just off their worst levels of the morning as all three are lower by close to 1.2%.

The S&P 500 Financial Index is under pressure this morning, trading down 1.6% and sporting the largest losses among the 10 S&P 500 sectors. Insurance giant Travelers (TRV 58.90, -2.18) is seeing the biggest drop among financials within the S&P 500 with the stock trading down 3.6% after announcing losses related to catastrophes in April and May are estimated at $1.0-1.5 billion. Among other financials banking giants JP Morgan Chase (JPM 40.32, -0.66) and Wells Fargo (WFC 25.82, -0.40) are down 1.6% and 1.5% respectively.DJ30 -133.74 NASDAQ -30.65 SP500 -14.10 NASDAQ Adv/Vol/Dec 283/549.6 mln/1020 NYSE Adv/Vol/Dec 500/218.9 mln/2114

10:30 am : Crude oil has been in the red all morning and continues to extend losses after Saudi Arabia said it would boost output following OPEC's decision on Wednesday not to do so. Crude hit new session lows again minutes ago at $98.75/barrel. In current activity, crude is down 2.6% at $99.31/barrel.

Natural gas on the other hand has been in positive territory all morning. In the last hour of trade, it has been trending higher and just touched new session highs of $4.77, up 2%. The energy component is currently up 1.7% at $4.75/MMBtu.

Precious metals sold off this morning, just minutes after pit trading opened. Gold sold off about 1% to $1526.70/oz, while silver fell almost 3% to $36.31/oz. Gold is currently down 0.8% at $1530.10/oz and silver is 2.6% lower at $36.45/oz.

Grain pits just opened with corn moving slightly lower initially following strong gains yesterday; now at $7.80, down 5 cents.DJ30 -106.53 NASDAQ -17.48 SP500 -10.81 NASDAQ Adv/Vol/Dec 302/327.3 mln/965 NYSE Adv/Vol/Dec 506/614.4 mln/2089

10:00 am : The major market averages continue to sport moderate losses in early action. The Dow and S&P lead today's decline, each trading down 0.8%

Shares of Lululemon Athletica (LULU 90.97, +4.83) are higher by close to 5.5% at the open after the company announced strong first quarter earnings. The company made $0.46 per share, topping the consensus estimate of $0.38 per share. Revenues climbed 35.1% YoY to $186.8 million, and the company issued upside guidance of $0.42-$0.44 versus the Capital IQ consensus of $0.39. The company also raised its full year 2012 guidance, seeing earnings per share of $2.10-2.16 vs. $2.08 Capital IQ consensus estimate, up from $1.90-2.00 and full year 2012 revenues of $915-930 mln vs. $924.48 mln Capital IQ consensus estimate, up from $885-900 mln.DJ30 -97.11 NASDAQ -16.47 SP500 -10.00 NASDAQ Adv/Vol/Dec 309/182.5 mln/904 NYSE Adv/Vol/Dec 521/316.6 mln/1988

09:45 am : The major market averages are seeing moderate losses in the opening minutes of trade. The Dow and S&P pace the decline as each are lower by 0.6% while the Nasdaq is seeing light outperformance with its loss of 0.4%. Energy and Financials are the weakest sectors, trading lower by 0.9% and 0.8% respectively. Materials are the best performing sector, sporting a loss of 0.1% DJ30 -77.01 NASDAQ -11.29 SP500 -7.96

09:14 am : [BRIEFING.COM] S&P futures vs fair value: -5.80. Nasdaq futures vs fair value: -11.80. Futures are pointing to a slightly lower open this morning following mixed overseas action. China's trade balance missed expectations as strong import number led to the miss. Shares of Lululemon Athletica (LULU) are up close to 7.0% in pre-market trade after the company announced strong earnings and gave upside guidance. The company's earnings per share of $0.46 topped estimates, as did their $186.8 million in revenues. The company announced it expects earnings per share for the second quarter to come in between $0.42 and $0.44 versus the Capital IQ consensus of $0.39. Also worth a mention is Toyota Motor (TM) lowering its full year 2012 outlook as it now expects net income of JPY280 billion versus the consensus estimate of JPY432 billion.

08:58 am : [BRIEFING.COM] S&P futures vs fair value: -4.10. Nasdaq futures vs fair value: -10.00. Overseas action has been mixed today with markets in Asia (Nikkei +0.5%, Hang Seng -0.8%, Shanghai Composite +0.1%) and Europe (FTSE -0.2%, CAC -0.6%, DAX +0.1%) trading between gains and losses. China's trade balance was softer-than-expected ($13.1 billion actual v. $19.8 billion expected) as a strong import number led to the miss. Elsewhere in the region, Bank of Korea hiked its benchmark interest rate by 25 basis points to 3.25% in a surprise move. Japanese automakers propelled the Nikkei to its fourth consecutive day of gains as Toyota Motor and Honda Motor both added 0.9% ahead of Toyota lowering its full year 2012 guidance. Property stocks provided supported Chinese stocks as Poly Real Estate gained 3.4% in Shanghai while weakness in financials weighed on the Hang Seng. China Construction Bank fell 0.4% on the day.

European stocks are mixed in afternoon trade as the debate about how to approach a Greece bailout continues. Germany's Parliament approved the motion to revise a new plan to aid Greece, but it seems as though European leaders are on both sides of the aisle. French industrial production (-0.3% MoM actual v. 0.4% MoM expected) missed estimates while Germany's Bundesbank had positive revisions to the nation's growth, inflation, and unemployment outlook. In Britain, miners are under pressure with Anglo American pacing the sector's decline with a loss of 0.9%. Power companies are weak in France as Schneider Electric trades down 0.8% while steelmaker ThyssenKrupp is higher by more than 3.0% in Germany to lead the DAX.

08:32 am : [BRIEFING.COM] S&P futures vs fair value: -3.00. Nasdaq futures vs fair value: -9.00. Stock futures continue to sport small losses. There hasn't been any real reaction to the latest batch of import and export prices. Excluding agricultural items, exports increased by 0.5% during May. That followed a 1.0% increase in April. As for import prices, excluding oil, they increased by 0.2% in May after a 0.6% increase in the prior month.

07:59 am : [BRIEFING.COM] S&P futures vs fair value: -3.00. Nasdaq futures vs fair value: -8.00. Equity futures are pointing to small losses at the open after a mixed Asian session turned into weakness across Europe. China's trade balance was softer-than-expected ($13.1 billion actual v. $19.8 billion expected), providing more evidence that the global economy is slowing. In Europe, Germany's Parliament approved the motion to revise a new plan to aid Greece. At home, on the earnings front, Lululemon Atletica (LULU) announced first quarter earnings of $0.46 per share, topping the Capital IQ consensus estimate of $0.38 per share. The company said revenues rose 35.1% YoY to $186.8 million and issued upside guidance for the second quarter of $0.42-$0.44 versus the Capital IQ consensus of $0.39. Shares of the company are higher by 4.0% in pre-market activity. A light week of economic data wraps up with export prices-ex ag. And import prices ex-oil which will be released at 8:30 a.m. ET, as well as the Treasury budget which is due out at 2 p.m. ET.

06:37 am : [BRIEFING.COM] S&P futures vs fair value: -3.00. Nasdaq futures vs fair value: -7.00.

06:36 am : Nikkei...9514.44...+47.30...+0.50%. Hang Seng...22420.37...-189.50...-0.80%.

06:36 am : FTSE...5854.15...-2.20...0.00. DAX...7173.41...+13.80...+0.20%.

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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