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 Post subject: July 13th Wednesday 2011 Emini TF ($TF_F) points +17.50
PostPosted: Wed Jul 13, 2011 11:51 am 
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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: +17.50 points or $1750.00 dollars in the Russell 2000 Emini TF ($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=92&t=933.

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 (key market events) causes key changes in supply/demand and volatility that's arguably just as important as my technical analysis. Thus, I pay attention to these key market events from one trade to the next trade to give me the market context for my technical analysis.

Image Bloomberg (YouTube Video) - U.S. Stocks Pare Gains on Debt-Limit Deal Concerns

July 13 (Bloomberg) -- Bloomberg's Deborah Kostroun reports on the performance of the U.S. equity market today. U.S. stocks pared gains, almost erasing a 164-point gain in the Dow Jones Industrial Average, after the Associated Press reported that House Speaker John Boehner said it's a "crapshoot" whether the federal debt limit will be boosted if an agreement isn't reached by Aug. 2.

Image CNNMoney.com - Stocks Snap 3-Day Losing Streak
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click on the above image to view today's price action of key markets

By Hibah Yousuf July 13, 2011: 4:40 PM ET

NEW YORK (CNNMoney) -- U.S. stocks fell from earlier highs but still managed to snap a three-session losing streak Wednesday after Federal Reserve chairman Ben Bernanke reiterated that the central bank remains ready to provide additional stimulus.

The Dow Jones industrial average (INDU) rose 45 points, or 0.4%, with Caterpillar (CAT, Fortune 500), Merck & Co. (MRK, Fortune 500) and Walt Disney (DIS, Fortune 500) leading the advance.

The S&P 500 (SPX) added 4 points, or 0.3%, and the Nasdaq composite (COMP) gained 15 points, or 0.5%.

It was a good day for stocks. Earlier in the session, all three indexes had climbed more than 1%.

The day started on an upbeat note as investors cheered China's healthy economic growth.

China's economy grew at an annual pace of 9.5% between April and June, the National Bureau of Statistics said Wednesday. That marks a slight slowdown from the first quarter, but was higher than economists expected.

"That serves as positive reinforcement for the global economy," said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research.

But the big driver behind Wednesday's gains was Bernanke.

After months of adamantly denying another round of stimulus, the Fed chief opened the door a crack during his semi-annual address to Congress.

Bernanke told lawmakers that the central bank is "prepared to respond should economic developments indicate that an adjustment in the stance of monetary policy would be appropriate."

* Bernanke on the economy's crossroads

The possibility of additional stimulus offered some relief for investors who have been worried that the recent soft economic data could stall the recovery.

"Bernanke came out and said that the Fed has the tools to support economic growth, and is ready to use them," said Timothy Ghriskey, chief investment officer at Solaris Asset Management. "That's giving investors confidence."

However, Detrick said that trading will remain volatile as investors continue to face headwinds from Europe's sovereign debt crisis.

Wednesday afternoon, Fitch Ratings cut Greece's credit by three notches to CCC, sending the debt-ridden country's rating further into junk territory. The market had a muted reaction but the news served as yet another reminder of Europe's ongoing debt troubles.

"Europe's fiscal crisis is on the back burner for today, but there are still a lot of negative forces out there," Detrick said.

* Video - BullHorn: Will Italy be another Greece?

U.S. stocks ended near session lows Tuesday, after Moody's cut Ireland's credit rating to junk.

Currencies and commodities: The dollar weakened against the euro and British pound. The greenback was also lower versus the Japanese yen.

Oil for August delivery rose 62 cents to settle at $98.05 a barrel.

Gold futures for August delivery rose $23.20 to settle at a record $1,1585.50 an ounce. Earlier Wednesday, the precious metal hit an intraday record of $1,588.90 an ounce.

Bonds: The price on the benchmark 10-year U.S. Treasury rose slightly, with the yield edging lower to 2.88% from 2.91% Tuesday.

Companies: News Corp. (NWSA, Fortune 500) was a big winner on both the S&P 500 and the Nasdaq. Shares spiked nearly 4% after the company withdrew its bid for satellite TV company British Sky Broadcasting. The media giant said it plans to remain a long-term shareholder of BSkyB.
0:00 / 1:21 EA's big digital play

Late Tuesday, Electronic Arts (ERTS) announced it is buying mobile game maker PopCap Games for $750 million in cash and stock. Shares of the company fell 1.1% Wednesday.

World markets: European stocks finished higher. Britain's FTSE 100 gained 0.6%, the DAX in Germany added 1.3%and France's CAC 40 rose 0.5%.

Asian markets ended the session higher. The Shanghai Composite jumped 1.5%, the Hang Seng in Hong Kong gained 1.2% and Japan's Nikkei rose 0.4%.

Image

Image Yahoo! Finance - Market Update

4:25 pm : Buying interest on the back of strong GDP data from China and comments from Fed Chairman Bernanke had the major equity averages up more than 1% today, but that gain was slashed as stocks gradually descended in afternoon trade.

The mood among market participants this morning was much improved from the negativity that permeated trade during the three prior sessions. Participants were partly encouraged by news that China reported second quarter GDP growth of 9.5% over the same period one year ago. The torrid clip proved greater than expected, and suggested that China remains a primary driver of the global economic rebound.

Concerns about the fiscal health of countries in the eurozone's periphery cooled, at least for today, to help the euro rally against the dollar. The dollar dropped another leg lower amid comments from Fed Chairman Bernanke.

During his semiannual testimony on monetary policy to the House Financial Services Committee, Bernanke stated that the Fed remains prepared to adjust monetary policy in the event that economic developments warrant such a move. Bernanke also noted that the Fed has reached a consensus on the steps involved in an exit strategy from current policy. As we expressed yesterday, it is only natural, and should even be expected, that the Fed prudently discuss such scenarios.

Buying interest picked up after participants digested Bernanke's prepared remarks. The stock market's climb was broad based, but natural resource plays staged the strongest gains. In fact, energy stocks were up 2%, as a group. Materials stocks weren't far behind.

The two sectors got an added boost because of a bounce by many underlying commodities. Oil prices had pushed up to a gain of more than 1% on the back of a surprisingly large draw down in weekly oil inventories before an afternoon pullback left it to settle pit trade with a 0.6% gain at $98.05 per barrel. Meanwhile, gold prices rallied to a record high of almost $1589 per ounce before it settled with a 1.5% gain at $1585.30 per ounce.

However, stocks struggled to sustain their gains as action advanced into the afternoon. The loss of support left the major equity averages to drift lower. Only a brief bit of buying interest in the final few minutes kept the stock market from settling at its session low.

Defensive-oriented stocks, which had already lagged all session, suffered the only losses. Specifically, utilities fell 0.2% while telecom closed with a 0.1% loss. Consumer staples stocks collectively closed at the unchanged mark.

A traditional safe haven, the benchmark 10-year Note traded with weakness in the early going, but was able to rebound amid the stock market's afternoon drift. It also got a boost from strong auction results. The 10-year Note sale drew a bid-to-cover of 3.18, dollar demand of $66.7 billion, and an indirect bidder participation rate of 42.0%. For comparison, an average of the past six auctions gives a bid-to-cover of 3.20, dollar demand of $70.4 billion, and an indirect bidder rate of 52.3%.

Advancing Sectors: Materials +0.8%, Energy +0.7%, Consumer Discretionary +0.5%, Industrials +0.4%, Tech +0.3%, Health Care +0.3%, Financials +0.2%
Unchanged: Consumer Staples
Declining Sectors: Telecom -0.1%, Utilities -0.2%DJ30 +44.73 NASDAQ +15.01 NQ100 +0.4% R2K +0.9% SP400 +0.3% SP500 +4.08 NASDAQ Adv/Vol/Dec 1821/1.90 bln/761 NYSE Adv/Vol/Dec 2015/883 mln/987

3:35 pm : It was a very eventful session for precious metals, which rallied on the continued flight to safety from concerns about the situation in Europe, as well as commentary from the Fed Chairman's testimony this morning that mentioned that the Fed remains prepared to respond should economic developments indicate that an adjustment in the stance of monetary policy would be appropriate. August gold gained 1.5 % to close at $1585.30 per ounce. Gold traded to a new all time high at $1588.90. Sept silver surged 6.9% to finish at $38.10 per ounce. Silver futures put in highs at $38.34, their best levels in close to 1.5 months.

August crude oil finished higher by 0.6% to $98.05 per barrel. This morning's inventory data, which showed a larger-than-expected draw down, sent futures into positive territory. They extended that rally heading into afternoon trade, where they notched highs at $99.21. The rally stalled at that high and futures spent the remainder of the session pulling back from those highs to end with modest gains. August natural gas ended up 1.6% to $4.41 per MMBtu, extending its rally to a fourth consecutive session.DJ30 +51.50 NASDAQ +12.05 SP500 +4.81 NASDAQ Adv/Vol/Dec 1749/1.6 bln/811 NYSE Adv/Vol/Dec 2090/623.5 mln/946

3:00 pm : Stocks have stabilized and started to reclaim some of their gains after drifting down to an afternoon low.

Meanwhile, Treasuries continue to tick higher. In turn, the benchmark 10-year Note is coming close to the neutral line so that it trades at its best level of the day. That has its yield back at 2.90%.

Only an hour remains in today's trade. There aren't any major earnings announcements on tap for tonight, but tomorrow morning brings the latest numbers from JPMorgan Chase (JPM 39.79, +0.40). DJ30 +90.21 NASDAQ +24.97 SP500 +10.03 NASDAQ Adv/Vol/Dec 1900/1.34 bln/630 NYSE Adv/Vol/Dec 2290/505 mln/690

2:30 pm : Stocks continue to drift downward. The decline has left each of the three major averages to trade at their lowest levels since mid-morning.

Other asset prices are also pulling back. Specifically, oil prices are back at $98 per barrel as they settle pit trade. They had been up above $98.70 per barrel with a 1.3% gain about 90 minutes ago. Even gold is trading lower in after-hours action. The yellow metal was last priced at $1579 per ounce, but had actually traded hands at a new record high of almost $1589 per ounce earlier in the day.

Meanwhile, steady pressure agains the greenback has kept the Dollar Index down with a loss of more than 1%. DJ30 +88.21 NASDAQ +29.14 SP500 +9.82 NASDAQ Adv/Vol/Dec 1900/1.27 bln/630 NYSE Adv/Vol/Dec 2300/475 mln/670

2:00 pm : Stocks are drifting lower in early afternoon trade. That has left the Dow and the S&P 500 with gains of less than 1%.

The market's move off of its session high comes as many of the major sectors surrender some of their gains. Energy stocks, in particular, were up 2% earlier today, but they have since pulled back to trade with a 1.4% gain. Energy's easing comes even though oil prices are still up 1.0% at $98.40 per barrel. DJ30 +105.69 NASDAQ +34.38 SP500 +11.53 NASDAQ Adv/Vol/Dec 1970/1.15 bln/550 NYSE Adv/Vol/Dec 2370/425 mln/590

1:30 pm : Treasuries are trimming their losses in the wake of the latest auction. The 10-year Note sale produced a bid-to-cover of 3.18, dollar demand of $66.7 billion, and an indirect bidder participation rate of 42.0%. For comparison, the prior auction drew a bid-to-cover of 3.23, dollar demand of $67.8 billion, and an indirect bidder participation rate of 50.6%. An average of the past six auctions gives a bid-to-cover of 3.20, dollar demand of $70.4 billion, and an indirect bidder rate of 52.3%.

Stocks haven't really reacted to the auction results, though. Instead, the major equity averages continue to sport gains of 1% or more. DJ30 +128.21 NASDAQ +32.99 SP500 +13.93 NASDAQ Adv/Vol/Dec 2080/990 mln/425 NYSE Adv/Vol/Dec 2440/365 mln/500

1:00 pm : Market participants have become buyers after watching stocks fall for three straight sessions. Their interest has been helped by news that China, a driving force in the global economic recovery, generated stronger-than-expected GDP growth during the second quarter. That news helped many of Asia's major market averages rally back from the steep losses suffered in the prior session.

Stocks have also responded positively to comments from Fed Chairman Bernanke during his semiannual testimony on monetary policy to the House Financial Services Committee. Bernanke stated that the Fed remains prepared to adjust monetary policy in the event that economic developments warrant such a move. In contrast, Bernanke noted that the Fed has reached a consensus on the steps involved in an exit strategy from current policy.

The dollar was already down against a basket of competing currencies this morning, but its drop to a loss of more than 1% coincided with Bernanke's comments. The greenback was recently quoted with a loss of 1.2%.

Weakness in the dollar has helped stoke buying interest in commodities. That helped gold prices set a record high above $1580 per ounce. Meanwhile, oil prices are up 1.3% to $98.70 per barrel in the wake of a greater-than-expected draw in weekly inventories.

Broad equity market strength and higher commodity prices have helped energy stocks and materials stocks put together some of the best gains. The two sectors are up 1.6% and 1.5%, respectively.

Defensive-oriented stocks like consumer staples and utilities are also in positive territory, but they have lagged all session. Their gains currently stand at 0.2% and 0.3%, respectively. DJ30 +126.51 NASDAQ +39.39 SP500 +13.95 NASDAQ Adv/Vol/Dec 2080/990 mln/425 NYSE Adv/Vol/Dec 2440/365 mln/500

12:30 pm : Steady strength in the stock market has weighed on treasuries. In turn, the yield on the benchmark 10-year Note is back down to 2.95% after it had slipped below 2.90% during the prior session. The Note comes into increased focus ahead of auction results for 10-year Notes at the top of the hour.DJ30 +147.81 NASDAQ +40.48 SP500 +16.32 NASDAQ Adv/Vol/Dec 2070/900 mln/425 NYSE Adv/Vol/Dec 2040/335 mln/520

12:00 pm : Stocks have eased off of their session highs, but they continue to sport rich gains. The bounce this session has not yet fully offset the losses suffered during the course of the past three sessions, though.

Meanwhile, the dollar dropped sharply in recent minutes. In turn, the greenback now trails a basket of major foreign currencies by 1.2%, which makes for a new session low. The latest leg lower has left the Dollar Index unchanged for the week. DJ30 +137.41 NASDAQ +41.33 SP500 +15.20 NASDAQ Adv/Vol/Dec 2095/795 mln/370 NYSE Adv/Vol/Dec 2430/300 mln/460

11:30 am : The energy sector has stretched its advance to a 2.0% gain. The move has been led by Baker Hughes (BHI 75.40m +2.97) and Nabors Industries (NBR 24.88, +1.22). Even the sector's relative laggards, Sempra Energy (SE 27.22, +0.23) and ConocoPhillips (COP 75.17, +0.83), are sporting strong gains.

Meanwhile, the broad market is resting near its session high. Overall share volume, which is frequently regarded as a barometer of participation and conviction among traders, remains moderate. DJ30 +151.10 NASDAQ +40.23 SP500 +17.14 NASDAQ Adv/Vol/Dec 2055/685 mln/385 NYSE Adv/Vol/Dec 2415/255 mln/460

11:00 am : Stocks have extended their climb in recent trade. The upward push has taken the major equity averages to their best levels of the day.

Cyclical plays are currently the top performers. Specifically, energy stocks are collectively up 1.9% and materials stocks are collectively up 1.7%. Strength among energy and basic materials stocks comes as commodities tick higher. Broad gains in the commodity complex, including energy's recent rally to $98.35 per barrel for a 0.9% gain, have the CRB Commodity Index up 1.5%.

Consumer staples stocks and utilities continue to lag, however. The defensive-oriented sectors have been hampered by names like Campbell Soup (CPB 34.29, -0.30) and Clorox (CLX 69.68, -0.46) in the consumer staples space, along with incremental gains by electric utilities American Electric (AEP 38.20, +0.04) and Duke Energy (DUK 19.14, +0.01). DJ30 +149.21 NASDAQ +40.85 SP500 +16.14 NASDAQ Adv/Vol/Dec 1990/540 mln/400 NYSE Adv/Vol/Dec 2395/205 mln/440

10:35 am : Commodities are trading mostly higher this morning led by silver and many food-related commodities.

Crude oil futures fell into negative territory almost three hours ago, but this changed following inventory data. The energy component hit session lows of $96.53/barrel a short while ago and was near $97.07 ahead of the inventory data. Following the data, which showed a draw of 3.1 mln barrels versus a draw of 1.5 mln barrels, crude oil spiked about $1/barrel higher, moving into positive territory, and just now hit new session highs of $98.21/barrel, up 0.8%.

Natural gas has been in positive territory all morning, hitting its highest level of $4.39 around 9:00am EST. Currently, nat gas is up 1.2% at $4.36/MMBtu.

Gold prices hit new all-time highs of $1584.90/oz (continuous contract) a short-while ago after trading higher all morning. In current trade, gold futures are up 1.3% at $1581.70/oz. Silver futures are the best performing commodity today with over 6% in gains. Silver futures just hit new session highs of $37.95/oz and is now up 6.5% at $37.94/oz.

Pit trading just opened in corn futures, which opened sharply higher; now up 2.4% at $6.74/bushel. Wheat opened higher and is now up 2.1% at $6.86, while soybeans are 1.4% higher at $13.77/bu.DJ30 +141.68 NASDAQ +24.91 SP500 +14.33 NASDAQ Adv/Vol/Dec 1913/442 mln/423 NYSE Adv/Vol/Dec 2183/176 mln/601

10:05 am : Stocks are experiencing some sudden volatility. The price action comes as prepared comments for Fed Chairman Bernanke's semiannual testimony on monetary policy to the House Financial Services Committee.

Bernanke stated that the Fed remains prepared to adjust monetary policy in the event that economic developments necessitate an adjustment. Bernanke noted that the economy could evolve in a way that would warrant a move toward a less accommodative policy, though. He added that the Fed has reached a consensus on the steps involved in an exit strategy from the policy put in place during recent years to restore economic conditions. DJ30 +112.10 NASDAQ +18.70 SP500 +10.75 NASDAQ Adv/Vol/Dec 1685/225 mln/505 NYSE Adv/Vol/Dec 2070/80 mln/625

09:45 am : Stocks are up with solid gains in the early going. The buying effort has been broad, so far, but energy stocks (+1.0%), industrial stocks (+0.9%), and tech stocks (+0.8%) are leading the effort. In contrast, defensive-oriented plays like utilities (+0.1%) and consumer staples (+0.2%) are lagging.

Although market participants are showing an increased tolerance for risk, gold continues to glisten in the eyes of traders. The yellow metal currently boasts a 1.0% gain as it trades at $1579 per ounce, just a couple of dollars below the record high that it hit this morning.

In the backdrop, the dollar has fallen to a 0.6% loss against a basket of major foreign currencies. DJ30 +76.21 NASDAQ +21.99 SP500 +7.92

09:15 am : S&P futures vs fair value: +6.10. Nasdaq futures vs fair value: +18.00. Stock futures are off of their morning highs, but the cash market is still expected to open in positive territory. Buying interest follows three straight losses for the stock market and overnight news that China reported a torrid rise in second quarter GDP. The dollar has also come under pressure as traders rotate out of the reserve currency, which climbed against a collection of competing currencies during to its best level in more than one month in yesterday's action. Most of the greenback's recent gains have come because the euro descended to a four-month low against the dollar amid concerns about the European Union's ability to contain and remedy the precarious fiscal conditions facing countries in the eurozone's periphery. Amid the dollar's decline, gold prices have pushed up to a new record high above $1580 per ounce. The yellow metal was most recently quoted with a 1.1% gain at $1579 per ounce. However, oil prices are down 0.6% to $96.85 per barrel ahead of the latest weekly inventory report at 10:30 AM ET. There is plenty of anticipation for what Fed Chairman Bernanke will say during his semiannual testimony on monetary policy to the House Financial Services Committee at 10:00 AM ET. Bernanke's comments will be scrutinized to see if the Fed has considered anything more than what conditions could potentially warrant further quantitative easing.

09:05 am : S&P futures vs fair value: +5.50. Nasdaq futures vs fair value: +16.20. Widespread weakness caused Europe's major bourses to suffer sharp losses in each of this week's first two sessions, but the mood today is more mixed. Germany's DAX is up 0.3% amid support from automakers Daimler and BMW. Infineon Tech and Deutsche Bank (DB) have hampered overall action, however. In France, the CAC has fallen to a 0.3% loss, but it hasn't yet returned to the prior session's intraday low, which marked the CAC's worst level since mid-March. The CAC is currently being weighed down by weakness in L'Oreal SA and financial outfits BNP Paribas and Societe Generale. Britain's FTSE is flat at the moment. Burberry Group and Fresnillo Plc have been top performers, but their strength has been offset by sizable losses among Marks & Spencer and Royal Bank of Scotland (RBS). As for economic data, industrial production for the European Union increased by 0.1% during May. That follows a 0.2% monthly increase for April.

Overnight action in Asia improved from the steep losses suffered in the prior session. Specifically, Japan's Nikkei put together a 0.4% gain after it had suffered a 1.4% loss in the prior session. Tokyu Land Corp, Yamato Holdings, and Mitsui & Co. were leaders while Nikon and Nissan Motor (NSANY) lagged. Japan's industrial production during June improved by 6.2% after a 5.7% increase in the prior month. Hong Kong's Hang Seng scored a 1.2% gain after it had dropped 3.1% in the prior session. Property plays like Overseas & Land Investment and China Resources Land were primary leaders. Mainland China's Shanghai Composite closed 1.5% higher after it had fallen to a 1.7% loss the day before. Financial issues were leaders. Among them, Agricultural Bank of China outperformed after it announced expectations for heady profit growth. China's latest data featured second quarter GDP that showed 9.5% growth over the same period one year ago. That proved to be a more torrid clip than had been commonly expected.

08:35 am : S&P futures vs fair value: +6.90. Nasdaq futures vs fair value: +18.00. Neither stock futures nor the dollar have reacted to the latest bit of trade price data. Export prices, excluding agricultural items, for June saw no change from the prior month. That follows a 0.5% monthly increase. Import prices, ignoring oil, slipped by 0.1% from the prior month. The previous monthly change was a 0.4% increase.

08:05 am : S&P futures vs fair value: +7.00. Nasdaq futures vs fair value: +18.70. The stock market slid late in the prior session to settle at its session low, but an improved mood among morning traders has stock futures looking strong. Impressive GDP data from China have helped shift sentiment. Although gains are mostly modest in Europe, bourses there are seeing some relief from the losses suffered during the first couple of sessions of this week. The euro is also rallying after it fell to a four-month low against the dollar yesterday; the currency was last quoted with a 0.7% gain at $1.407. Import and export price data are due at the bottom of the hour. Fed Chairman Bernanke is scheduled to give his semiannual testimony on monetary policy to the House Committee on Financial Services at 10:00 AM ET. His speech comes one day after minutes from the most recent FOMC meeting indicated that Committee members talked, but only talked, about circumstances that could warrant further quantitative easing. Also on today's calendar, weekly oil inventory data are due at 10:30 AM ET, followed by results from an auction of 10-year Notes at 1:00 PM ET. The latest monthly Treasury Budget will be reported at 2:00 PM ET. There really aren't any earnings announcements of major consequence until JPMorgan Chase (JPM) reports tomorrow morning, followed by Google (GOOG) tomorrow night.

06:41 am : [BRIEFING.COM] S&P futures vs fair value: +10.00. Nasdaq futures vs fair value: +22.00.

06:41 am : Nikkei...9963.14...+37.20...+0.40%. Hang Seng...21926.88...+263.70...+1.20%.

06:41 am : FTSE...5891.73...+22.80...+0.40%. DAX...7219.76...+45.60...+0.60%.

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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