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 Post subject: August 10th Wednesday 2011 Emini TF ($TF_F) points +53.40
PostPosted: Wed Aug 10, 2011 7:06 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)

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

Trade Performance for Today: +53.40 points or $5340.00 dollars in the Russell 2000 Emini TF ($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, all trades were posted real-time in the free #FuturesTrades chat room. Today's #FuturesTrades trading chat room logs provides details about each one of my trades from entry to exit along with commentary as the trade traversed...all archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=93&t=965.

To join our free chat room...registration instructions located at a different forum @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=5&t=630

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=142&t=1168

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Market Summaries

The below summaries by Bloomberg, CNNMoney and Yahoo! Finance helps me to do a quick review of the fundamentals, FED/ECB/IMF actions or any important global economic events 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 results in swing points and strong continuation price actions. 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. Just as important, these summaries becomes my archives to allow me to understand what was happening on any given trading day in the past...something I can not get from my broker statements alone.

U.S. Stocks Slump, Banks Fall on Europe Debt Concerns

Aug. 10 (Bloomberg) -- Bloomberg's Deborah Kostroun reports on the performance of the U.S. equity market today. U.S. stocks tumbled, sending the Dow Jones Industrial Average to the lowest level since September, as banks slumped on concern that Europe will fail to contain its debt crisis and that the economy is faltering.

No rest For Investors: Dow Plunges 520

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By Hibah Yousuf and Ken Sweet August 10, 2011: 5:52 PM ET

NEW YORK (CNNMoney) -- After a one-day respite, U.S. stocks plunged sharply yet again Wednesday as investors were confronted with mounting fears about Europe's ongoing debt crisis, this time in France.

The Dow Jones industrial average (INDU) lost 520 points, or 4.6%, to 10,720. The index ended the day near session lows.

The S&P 500 (SPX) fell 52 points, or 4.4%, to 1,121; and the Nasdaq composite (COMP) lost 101 points, or 4.1%, to 2,381.

Stocks were led lower by the financial sector. On Wednesday afternoon CEO of embattled Bank of America (BAC, Fortune 500) Brian Moynihan tried to reassure investors that conditions at the bank and in the country are much better than they were four years ago when the financial crisis hit. The comments were made during a call hosted by investor Bruce Berkowitz of Fairholme Capital Management.

But the comments were not enough. Shares of the Dow component plunged 11% on the day. BofA has fallen nearly 50% so far this year.

Other names in the financial sector were hit just as hard. Shares of Citigroup (C, Fortune 500), Goldman Sachs (GS, Fortune 500) and Morgan Stanley (MS, Fortune 500) dropped about 10%. Shares of Wells Fargo (WFC, Fortune 500), UBS (UBS) and JPMorgan Chase (JPM, Fortune 500) were down around 7%.

Along with BofA's problems, investors remain worried about the Europe's ongoing sovereign debt crisis.

Ever since Standard & Poor's stripped the U.S. of its AAA credit rating on Friday, fears have been building that rating agencies may also downgrade AAA-rated nations in Europe, since they are also struggling with massive debt problems.

On Wednesday, shares of French bank Societe Generale tumbled 15% on the Paris stock exchange amid speculation that France, Europe's second-largest economy after Germany, may be first to face a rating cut.

European banking shares also fell sharply. Deutsche Bank's (DB) stock dropped 12% while Spanish bank Banco Santander (STD) dropped 9.5%.

* Pass the Pepto. Market volatility here to stay.

Even though the major rating agencies have reiterated France's AAA rating, "there's growing concern that France could get downgraded," said Tom Schrader, managing director at Stifel Nicolaus. "There's fear that S&P might do something stupid."

Market volatility: Stocks finished Tuesday's session with huge gains after the Fed left key interest rates unchanged, saying that deterioration in the labor market and slower-than-expected economic growth will require the central bank to keep interest rates "exceptionally low" until the middle of 2013.

The major indexes have been swinging between massive gains and losses during trading, and ending sessions either overwhelmingly higher or lower.

So far this month, all three indexes are down more than 10% and are on track to post the worst losses since October 2008.

Yo-yo action in the markets tends to spoil confidence among investors, and in turn, that lack of faith fuels additional volatility.

Ahead of the opening bell Wednesday, the New York Stock Exchange invoked Rule 48, which gives the exchange the right to pause trading in the event of extreme volatility. The NYSE typically invokes the rule several times each year.

* Video - A market made for day traders

Wall Street's most widely cited measure of volatility and fear in the market, the VIX (VIX), surged almost 22% to 43.

A reading higher than 30 is considered a sign that investors are getting worried, but the VIX is still way below the peak level of almost 90 hit in October 2008 -- after Lehman Brothers collapsed.

World markets: European stocks closed deep in the red. Britain's FTSE (FTSE) 100 fell 3.1%, the DAX (DAX) in Germany dropped 4.3% and France's CAC (CAC) 40 plummeted 5.1%.

Asian markets ended the day with solid gains, reflecting Tuesday's U.S. advance. The Shanghai Composite gained 0.9%, the Hang Seng in Hong Kong popped 2.3% and Japan's Nikkei increased 1.1%.

Economy: The government said wholesale inventories rose 0.6% in June, less than forecasts for a 1% rise.

Companies: London-based HSBC Holdings sold its U.S. credit card arm to Capital One (COF, Fortune 500) for $2.6 billion. Shares of HSBC (HBC) slipped 7.5%, while Capital One's stock gained less than 1%

* Recession 2.0 would hurt worse

Dow member and communications equipment maker Cisco Systems (CSCO, Fortune 500) posted a profit of 40 cents a share after the closing bell, beating the 38 cents that analysts had been looking for. Shares were up 2% in after-market trading.

Media giant News Corp. (NWSA, Fortune 500), which has recently been in the news due to its alleged part in the U.K.'s phone hacking scandal, also was reporting after the close.

Currencies and commodities: The dollar gained 1% against the euro and the British pound, but was lower versus the Japanese yen.

The greenback also rose against the Swiss franc, after the Swiss National Bank announced additional measures to curb the franc's rise. The central bank also attempted to weaken its currency last week.

* Oil demand could be hurt by sluggish economy

Oil for September delivery rose $3.50 to $82.80 a barrel.

Gold futures for December delivery gained $45.30 to settle at $1,788.30 an ounce. Earlier, gold futures hit an intraday high of $1,801 per ounce.

Bonds: The price on the benchmark 10-year U.S. Treasury rose slightly, pushing the yield down to 2.10% from 2.18% late Tuesday.

Image

Market Update

4:30 pm : A resumption of the stock market's downward trend left stocks to suffer another round of steep losses. That prompted another push into traditional safe havens.

Continued volatility has filled participants with a sense of uncertainty, making for a jittery market. So, as traders turned to sell the gains scored during the prior session's near 5% rally, which was the best single-session spike in more than two years, many others began to pile on their sell orders, thus perpetuating further selling pressure.

Stocks did attempt to improve their position in mid-afternoon trade, but the effort eventually ran into resistance. Stocks proceeded to roll over and settle at session lows, essentially offsetting the prior session's advance.

For the third straight session financials were the most influential stocks. The sector slumped to a 7% loss as rumors swirled about bank capital levels and exposure to Europe. French banks were sold aggressively in response to fears that France might lose its AAA-credit rating, even though both Moody's and S&P have stood by their ratings.

Few stocks successfully avoided this session's sell-off, let alone staged advances. However, Polo Ralph Lauren (RL 125.28, +5.43) managed to trade higher following news of its upside earnings surprise. Cree (CREE 34.08, +4.59) actually spiked sharply following its better-than-expected earnings results. The company's downside guidance was shrugged off.

Want for safety helped sent gold prices to a new record high above $1800 per ounce before it eased back to close at $1784.30 per ounce for a 2.4% gain. Gold's continual climb has helped drive the SPDR Gold Trust ETF (GLD 174.58, +5.97) to an all-time high.

Gains by the greenback sent the Dollar Index to a 1.1% gain, which was enough to put it back above its 50-day moving average at 74.7.

Treasuries were up all session, but rallied aggressively into the close. That took the yield on the benchmark 10-year Note down to about 2.08%, which is only five basis points above the record low that it set yesterday. There wasn't much of a response to results from an auction of 10-year Notes. The auction drew a bid-to-cover ratio of 3.2, dollar demand of $77.3 billion, and an indirect bidder participation rate of 35.2%. For comparison, an average of the past six auctions gives a bid-to-cover of almost 3.2, dollar demand of $69.9 billion, and an indirect bidder rate of 50.3%.

The Treasury released its budget for July today. It showed a deficit of $129.0 billion, which is less than the $132.0 billion deficit that had been expected, on average among economists polled by Briefing.com.

Advancing Sectors: (None)
Declining Sectors: Utilities -2.1%, Telecom -2.7%, Materials -3.3%, Consumer Staples -3.6%, Energy -3.8%, Tech -4.1%, Health Care -4.2%, Consumer Discretionary -4.4%, Industrials -4.9%, Financials -7.1%DJ30 -519.83 NASDAQ -101.47 NQ100 -4.1% R2K -5.2% SP400 -3.4% SP500 -51.77 NASDAQ Adv/Vol/Dec 505/3.39 bln/2126 NYSE Adv/Vol/Dec 835/2.15 bln/2272

3:30 pm : Another session, another new all-time high for gold futures, this time the mark is above the $1800 level at $1801.00. Concerns about Europe sparked the rally in precious metals as the flight to safety was on once again. Dec gold spent most of the afternoon session pulling back from those highs, but managed to add another 2.4% to its recent rally to close at $1784.30 per ounce. Sept silver rallied to its best levels, at $39.58, heading into the afternoon session, and closed just shy of those highs, higher by 3.9% at $39.37 per ounce.

Sept crude oil, which settled higher by 4.5% to $82.89 per barrel, was aided by this morning's bullish inventory data, which showed a large draw down versus consensus for a build. Crude traded to fresh highs at $83.14 heading into the close of pit trade and finished just shy of that high. Sept natural ended the day near flat at $4.01 per MMBtu.DJ30 -379.59 NASDAQ -63.37 SP500 -32.27 NASDAQ Adv/Vol/Dec 611/2.7 bln/1953 NYSE Adv/Vol/Dec 1071/1.6 bln/1974

3:00 pm : Stocks are starting to roll over after working their way to a session high about an hour ago. At the broad market's best level, the energy sector flirted with positive territory while the materials sector and utilities sector actually poked into positive territory. Now, energy stocks are collectively down 1.3%, utilities are off by 0.2%, and materials stocks are down 0.8%. Financials, off by 3.9%, are still this session's worst performers.

Treasuries are off of their highs, too. That has caused the yield on the benchmark 10-year Note to move up to 2.17%. DJ30 -315.32 NASDAQ -52.65 SP500 -26.89 NASDAQ Adv/Vol/Dec 688/2.43 bln/1907 NYSE Adv/Vol/Dec 1258/1.37 bln/1814

2:30 pm : Sentiment has improved further in recent trade. That has caused sellers to loosen their grip, giving way to actual buying. In turn, stocks have rallied to session highs.

Despite its discretionary nature, shares of Polo Ralph Lauren (RL 130.08, +10.23) have surged to a gain of more than 8%. The stock's strength stems from a strong quarterly report that featured a better-than-expected bottom line.

Fellow retailer Macy's (M 25.23, -0.20) posted an upside earnings surprise of its own this morning. The company complemented that feat with upside guidance, but its shares have struggled to find positive territory. DJ30 -226.94 NASDAQ -28.62 SP500 -16.26 NASDAQ Adv/Vol/Dec 760/2.21 bln/1817 NYSE Adv/Vol/Dec 1332/1.25 bln/1722

2:00 pm : The stock market has gradually improved its position so that it now trades with a 2.0% loss after it had been down in excess of 3% earlier today. The move up from session lows hasn't necessarily come from an increase in buying interest, but rather because selling pressure has softened.

Just released, the Treasury Budget for July showed a deficit of $129 billion, which is less than the $132.0 billion deficit that had been expected, on average among economists polled by Briefing.com. DJ30 -265.12 NASDAQ -42.23 SP500 -22.91 NASDAQ Adv/Vol/Dec 510/1.95 bln/2065 NYSE Adv/Vol/Dec 785/1.11 bln/2280

1:30 pm : Treasuries have made a modest uptick in the wake of the 10-year Note auction, which drew a bid-to-cover ratio of 3.2, dollar demand of $77.3 billion, and an indirect bidder participation rate of 35.2%. For comparison, the prior auction produced a bid-to-cover of almost 3.2, dollar demand of $66.8 billion, and an indirect bidder rate of 42.0%. An average of the past six auctions gives a bid-to-cover of almost 3.2, dollar demand of $69.9 billion, and an indirect bidder rate of 50.3%.DJ30 -347.58 NASDAQ -65.71 SP500 -33.01 NASDAQ Adv/Vol/Dec 515/1.81 bln/2060 NYSE Adv/Vol/Dec 775/1.02 bln/2285

1:00 pm : Continued volatility has sent stocks sharply lower in another sell-off. That, and a sense of uncertainty among participants, has propped up safe havens like gold, Treasuries, and the dollar.

Stocks surged nearly 5% yesterday for their best single-session spike in more than two years, but there wasn't any kind of follow through effort today. Instead, sellers quickly stepped back in to pare their positions. Given the jittery state of the market, such selling only perpetuated further weakness among stocks.

Speculation that France might be in jeopardy of losing its AAA-credit rating, despite its affirmation by Moody's and S&P, brought the fiscal and financial turmoil of the eurozone back to the forefront. France's CAC fell to a 5.3% loss. Financial outfits Societe Generale, Credit Agricole, and AXA all tumbled in excess of 10%.

U.S. banks and financial services providers continue to catch heat for their exposure to Europe. That has caused the overall financial sector to fall almost 5%, which is considerably worse than what any other sector has suffered.

To little surprise, today's sell-off has sent many traders into traditional safe havens. As such, gold prices have extended their climb. The precious metal was last quoted with a 2.0% gain at $1778 per ounce after it set a new record high above $1800 per ounce. Given the want for safety, gold's gain has come in the face of a stronger dollar, which is up 1.0% against a collection of competing currencies.

Treasuries are up sharply, too. In turn, the yield on the benchmark 10-year Note is now down to about 2.15%. Results from an auction of 10-year Notes are due at any moment. DJ30 -340.31 NASDAQ -63.45 SP500 -31.98 NASDAQ Adv/Vol/Dec 460/1.65 bln/2100 NYSE Adv/Vol/Dec 675/948 mln/2365

12:30 pm : The stock market's recent upturn has lost momentum, but it remains near its late morning/early afternoon high.

Financials continue to represent the heaviest drag on trade; the sector is currently down 4.9%. Diversified financial services issues like Bank of America (BAC 7.05, -0.55), which has been caught in whipsaw trade since the start of the week, is one of the sector's weakest performers. The action comes as some speculate about the company's capital levels, reminiscent of the financial crisis a few years ago, even though the company has issued statements intended to reassure employees and investors that the bank's capital and operations remain healthy. DJ30 -374.78 NASDAQ 67.47 SP500 -35.62 NASDAQ Adv/Vol/Dec 477/1.50 bln/2070 NYSE Adv/Vol/Dec 703/870 mln/2339

12:00 pm : Stocks are working their way upward. The effort has taken the S&P 500 above its recent trading range, but the benchmark measure continues to contend with a loss of almost 3%.

Meanwhile, the SPDR Gold Trust ETF (GLD 173.75, +5.14) is up 3% as gold prices set a new record high above $1800 per ounce. While the bounce by gold bullion has been the primary driver of the ETF's spike, the ETF has been given added preference becuase of its relative liquidity. DJ30 -373.54 NASDAQ -67.32 SP500 -37.66 NASDAQ Adv/Vol/Dec 440/1.30 bln/2090 NYSE Adv/Vol/Dec 599/770 mln/2420

11:30 am : Stocks are just above session lows as selling pressure remains steady and heavy. As a result of such sharp weakness and a sense of uncertainty among market participants, the Volatility Index (VIX) has soared about 25% to almost 44. On Monday the VIX, sometimes referred to as the Fear Gauge, set a multi-year high at 48, before yesterday's rally cut it down.DJ30 -422.65 NASDAQ -80.80 SP500 -42.34 NASDAQ Adv/Vol/Dec 440/1.11 bln/2056 NYSE Adv/Vol/Dec 595/650 mln/2409

11:00 am : Stocks have chopped their way lower in recent action. That has left the major equity averages to contend with losses of roughly 3% or more.

The latest leg lower comes amid rumors that France might be facing a credit downgrade, even though analysts at S&P and Moody's recently stood by their ratings.

Nonetheless, participants continue to pursue safety as a result of the sell-off. As such, the dollar is now up 1.1% against a basket of major foreign currencies. Meanwhile, gold prices are up 2.0% to $1777 per ounce, although that is modestly below the record high of almost $1783 per ounce that was set earlier. DJ30 -430.07 NASDAQ -85.68 SP500 -43.73 NASDAQ Adv/Vol/Dec 477/863 mln/1979 NYSE Adv/Vol/Dec 600/500 mln/2367

10:35 am : Crude oil futures traded around the $82-83 in early morning activity, but pulled back a few minutes before the open of floor trading and fell back below the $80 area. Ahead of inventory data, crude was right around $80. However, following the data, which showed a draw of 5.23 million barrels versus a build of 1.4 million barrels, crude futures rallied through the $81 level and is now up 2.5% at $81.25/barrel.

Natural gas trended lower for the majority of this morning. However, about 15 min ago, after moving back near the unchanged line, natural gas rallied back near earlier morning highs of $4.03/MMBtu and is now up 0.5% at $4.01/MMBtu.

Gold futures rose to new all-time highs this morning of $1782.60/oz. The precious metal has been in positive territory all morning and is currently up 1.8% at $1774.10/oz. Silver futures are higher as well, showing gains of 1.4% at $38.40/oz.DJ30 -392.38 NASDAQ -80.93 SP500 -40.12 NASDAQ Adv/Vol/Dec 412/736 mln/2026 NYSE Adv/Vol/Dec 518/437 mln/2433

10:00 am : Sellers have redoubled their efforts, sending stocks back toward their morning lows. As has been the case with recent sell-offs, very few names have been able to go unscathed.

Such widespread weakness among stocks has helped drive Treasuries higher. As such, the yield on the benchmark 10-year Note is down to 2.16%. Amid yesterday's whipsaw action, the Note's yield hit a record low of about 2.03%. DJ30 -349.62 NASDAQ -74.53 SP500 -34.53 NASDAQ Adv/Vol/Dec 392/217 bln/1924 NYSE Adv/Vol/Dec 358/155 mln/2476

09:45 am : Stocks dropped precipitously at the open, but have since stabilized. Losses among the major equity averages still exceed 2%, though.

While weakness is widespread this morning, financials are leading the action for the third straight session. The sector suffered a 10% drop on Monday, when the broad market endured its worst rout since 2008, but then rallied 8% yesterday as the overall stock market scored its strongest single-session gain in more than two years. Today, the sector is down about 4%. DJ30 -248.13 NASDAQ -56.99 SP500 -24.84 NASDAQ Adv/Dec 409/1896 NYSE Adv/Dec 411/2455

09:15 am : S&P futures vs fair value: -26.10. Nasdaq futures vs fair value: -53.00. Pressure against stock futures has intensified, such that the cash market is now expected to open with a loss in excess of 2%. The weakness comes as many traders look to pare their positions amid continued volatility. The prior session's rally, which was the sharpest in more than two years, has provided additional incentive to do so. Of course, with so many participants feeling jittery, the premarket pullback has only perpetuated further selling. That has helped safety plays like gold climb back above $1770 per ounce for a 1.7% gain. Meanwhile, the dollar has bounced to a 0.7% gain after it was up only incrementally earlier this morning. Treasuries are turning higher, too. As a result, the yield on the benchmark 10-year Note is back below 2.20%. Results from an auction of 10-year Notes will be posted at 1:00 PM ET. The latest Treasury Budget follows at 2:00 PM ET.

09:05 am : S&P futures vs fair value: -22.80. Nasdaq futures vs fair value: -49.80. Oil prices have pulled back from their pre-pit trade levels, but still sport a 1.5% gain at $80.50 per barrel. Weekly oil inventory data will be released at 10:30 AM ET. At $4.00 per MMBtu, natural gas prices are up a much more modest 0.3% this morning. Meanwhile, precious metals have resumed their upward climb. As such, gold prices were last quoted with a 1.3% gain at $1766 per ounce. Silver prices are up 1.2% to trade at $38.35 per ounce. The gains fly in the face of a stronger greenback, which recently climbed to a new morning high for a 0.6% gain against a basket of major foreign currencies.

08:35 am : S&P futures vs fair value: -14.00. Nasdaq futures vs fair value: -39.00. Despite the dramatic rally that was witnessed on Wall Street yesterday, buyers in Europe haven't appeared very inspired today. That has left the continent's major bourses to trade with mixed results. Germany's DAX has managed to advance to a 1.2% gain. Henkel AG has been a top performer. Deutsche Telekom, Adidas, and BASF have also provided support. Germany's final CPI reading for July showed a 2.4% increase, unchanged from the preliminary reading. France's CAC has failed to sustain any kind of a climb into positive territory. In turn, it is currently down 0.5% after it recently traded with a fractional gain. Veolia Environnement, Technip, and GDF Suez have provided some support, but their efforts have been more than offset by weakness in financial outfits BNP Paribas, Societe Generale, and Credit Agricole. Data out of France indicate that the country's industrial production fell 1.6% during June and that manufacturing production fell 1.9% in June. Those declines followed increases of 1.9% and 1.4%, respectively, in the prior month. Britain's FTSE is up 0.6% at the moment. Financials are divided as Standard Life and Lloyds Group (LYG) offer leadership, but Standard Chartered and HSBC (HBC) trade with losses. According to recent statements from the Bank of England, CPI is expected to peak at approximately 5% in the fourth quarter. Fourth quarter GDP is now expected to increase by approximately 2.0%, which is down from the 2.5% increase that had been estimated previously.

Wall Street's surge yesterday provided an impetus for Asia's major averages to rally overnight. Japan's Nikkei swung to a 1.1% gain, which was led by power companies like Tokyo Electric, Kansai Electric, and Chubu Electric. Honda Motor (HMC), Sony (SNE), and Komatsu succumbed to selling, though. Hong Kong's Hang Seng scored a 2.3% gain. Li & Fung was a top performer. Global banking giant HSBC helped the upward push. Mainland China's Shanghai Composite closed with a 0.9% gain. Real estate plays Jiangxi Zhong Jiang and Shandong Tyan both surged by the 10% daily limit. As for data, China's trade balance for July climbed to $31.5 billion from $22.3 billion one year ago.

08:05 am : S&P futures vs fair value: -10.40. Nasdaq futures vs fair value: -31.30. On Monday stocks suffered their worst one-day drop since December 2008 then rallied yesterday for their best single-session surge since March 2009. Ahead of today's open, stocks are back under pressure as volatility continues. Oil prices are up a sharp 3.9% to $82.40 per barrel in electronic trade. That bounce comes after the energy component had descended to a 2011 low during the course of the past couple of weeks. Weekly oil inventory data are due at 10:30 AM ET. Gold prices are up, too, this morning. The yellow metal was last quoted with a 1.5% gain at $1768 per ounce, but that is still shy of its record high above $1780 per ounce. In the backdrop, the dollar is up incrementally against a basket of major foreign currencies. Treasuries are mixed this morning. Results from an auction of 10-year Notes will be released at 1:00 PM ET. Just yesterday the yield on the 10-year Note dropped to a record low of almost 2.0%.

06:46 am : [BRIEFING.COM] S&P futures vs fair value: -2.40. Nasdaq futures vs fair value: -10.30.

06:46 am : Nikkei...9038.74...+94.30...+1.10%. Hang Seng...19783.67...+453.00...+2.30%.

06:46 am : FTSE...5208.12...+43.20...+0.80%. DAX...6034.28...+117.20...+2.00%.

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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