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 Post subject: August 19th Friday 2011 Emini TF ($TF_F) points +44.50
PostPosted: Fri Aug 19, 2011 4:33 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: +44.50 points or $4450.00 dollars in the Russell 2000 Emini TF ($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=976.

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 Drop as Economy Concern Offsets Valuations

Aug. 19 (Bloomberg) -- Bloomberg's Deborah Kostroun reports on the performance of the U.S. equity market today. U.S. stocks fell, posting the fourth straight weekly slump for the Standard & Poor's 500 Index, as the cheapest price-earnings ratios since 2009 failed to lure investors amid concern the global economy is weakening.

Another Nasty Week For Wall Street

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By Ken Sweet, contributing writer August 19, 2011: 4:48 PM ET

NEW YORK (CNNMoney) -- U.S. stocks were slammed with another wave of late-day selling on Friday as investors were faced with disappointing news from Hewlett-Packard as well lingering issues with Europe's debt crisis and the future of the U.S. economy.

Friday's drop came after the Dow plunged more than 400 points on Thursday and added to what had already been steep declines for U.S. markets.

In all, it was another nasty week for U.S. investors, with the Dow, S&P and Nasdaq falling between 4% and 6% over the past five days.

On Friday, the Dow Jones industrial average (INDU) dropped 173 points, or 1.6%, to end at 10,818. The S&P 500 (SPX) lost 17 points, or 1.5%, to finish at 1,124 and the Nasdaq Composite (COMP) fell 39 points, or 1.6%, to 2,342.

The biggest drag on the blue chips was Hewlett-Packard (HPQ, Fortune 500), which dropped 20% on the day.

Hewlett-Packard disappointed investors Thursday after the company cut its full-year forecast, announced it was ending its tablet business and said it was looking to exit the consumer PC business as well.

World markets dropped for a second straight session, as global economic fears continued to build.

"Global markets remain rattled by a crisis that is fast morphing into a global banking and economic crisis on one side, and a very piecemeal policy approach to contain risks on the other," said Marc Chandler, global head of currency strategy at Brown Brothers Harriman.

Britain's FTSE (UKX) 100 index closed down 1%, the DAX (DAX) in Germany dropped 2.2% and France's CAC (CAC40) 40 sank 1.9%.

"People are remembering Lehman -- and are reacting accordingly," said Fred Dickson, chief market strategist with D.A. Davidson & Co.

* Video - PIMCO's Gross: Recession Inevitable

Friday's global sell-off came a day after Morgan Stanley cut global growth forecasts, saying the U.S. and Europe are "dangerously close to a recession."

Adding to these concerns, Deutsche Bank downgraded its economic forecast for China, saying a slowdown or recession in the U.S. or European economies would be "the single most important shock to the Chinese economy," and could slow the nation's GDP growth to 7%.

In 2010, China's economy grew at a robust rate above 10%, and is forecast to grow more than 9% in 2011.

* Europe's debt crisis: Expect more trouble

Meanwhile, JPMorgan Chase sliced its fourth-quarter U.S. GDP growth estimate to 1%, down from its previous projection of 2.5%. The bank also warned that the risks of a recession are "are clearly elevated."

"It's not a foregone conclusion that we're recession-bound, [but] clearly the U.S. economy is slowing," said Rob Lutts, chief investment officer with Cabot Money Management.

Investors continued to seek shelter in traditional safe havens, including gold. The precious metal jumped as much as $59.40 on Friday, bolting to a fresh intraday record of $1,881.40 an ounce before pulling back to a settlement record of $1,852.20.

On Thursday, the Dow fell more than 400 points, as renewed concerns about the U.S. and global economies send investors fleeing from equities.

Companies: Bank of America's (BAC, Fortune 500) stock edged lower, after the company announced it is cutting 3,500 jobs, in addition to the 2,500 jobs the bank eliminated earlier this year.

* Video - Hardest Hit Stocks In Asia Sell-Off

Gap (GPS, Fortune 500) shares were up 3% after the retailer reported better-than-expected results after Thursday's closing bell.

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

Oil for September delivery slipped 46 cents to $81.92 a barrel, having fallen as low as $79.17 earlier in the session.

Bonds: The price on the benchmark 10-year U.S. Treasury fell slightly, pushing the yield up to 2.09% from 2.08% late Thursday.

World markets: It was another tough day for Asian markets. Japan's Nikkei (N225) lost 2.5%, the Hang Seng (HSI) in Hong Kong tumbled 3.1% and the Shanghai Composite (SHCOMP) fell 1%.

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Market Update

4:20 pm : After a back-and-forth start to the day, stocks again succumbed to selling pressure in a continuation of the four week trend that has taken the S&P 500 down 16% during that time. Today, the S&P 500 lost another 1.5%.

Shares of Hewlett Packard (HPQ 23.60, -5.91) fell after the company announced yesterday that it will sell its PC business and acquire European data analytics company Autonomy. In other news, the company reported slightly better than expected earnings of $1.10 per share (Capital IQ Consensus Estimate of $1.11 per share) and saw in-line revenues of $31.2 billion. The company did however announce downside guidance of $1.12-1.16 per share (Capital IQ Consensus Estimate of $1.31 per share) and revenues of $32.1-32.5 billion (Capital IQ Consensus Estimate of $33.99 billion).

Financials were one of the worst performing sectors in the S&P 500, trading down 2.0% collectively. Bank of America (BAC 6.97, -0.04) lost 0.6% after announcing they will cut 3,500 jobs this quarter.

Clearwire (CLWR 3.01, +0.70) saw strong gains of 30% following a Bloomberg report that Sprint (S 3.42, -0.07) will buy the remaining equity in the company that it doesn't already own.

Intuit (INTU 43.65, +3.35) was among the top performers today after beating on both the top and bottom lines. The company announced earnings of $0.02 per share, excluding non-recurring items, which was $0.02 better than the Capital IQ Consensus Estimate of $0.00. Revenues rose 10.4% YoY to $593 million versus the $583.7 million consensus. Management issued in-line guidance for full year 2012, expecting earnings per share of $2.85-2.94, excluding non-recurring items, vs. $2.85 Capital IQ Consensus Estimate and revenues of $4.19-4.29 billion vs. $4.2 billion Capital IQ Consensus Estimate.

Treasuries across most of the complex finished little changed with outperformance coming from the long bond. Today's quiet session saw the 10-yr yield settle at 2.071%.

Next week's calendar is relatively light until the end of the week, which brings the annual Jackson Hole economic policy meeting next week (Aug 26-28), where central bankers and economists will be discussing the current economic situation. We've already seen a bit of this, but we would expect speculation about Fed acitivity to intensify in the coming week as we approach that meeting. Prior to that however, econ data of interest includes New Home Sales (Tues), Durable Orders (Wed), and revised GDP and Michigan Sentiment on Friday. There are also ~70 companies we cover reporting earnings next week, including a number of specialty retailers. Some of the more interesting reports out next week include: Tuesday: HNZ, WSM; Wednesday: AEO, TOL, AMAT; Thursday: P and Friday: TIF.

Advancing Sectors: None

Declining Sectors: Consumer Staples XLP (-0.2%), Healthcare XLV (-0.3%), Utilities XLU (-0.6%), Telecom IYZ (-1.0%), Consumer Discretionary XLY (-1.1%), Materials XLB (-1.2%), Industrials XLI (-1.2%), Energy XLE (-1.4%), Financials XLF (-1.5%), Technology XLK (-2.1%)DJ30 -172.93 NASDAQ -38.59 SP500 -17.12 NASDAQ Adv/Vol/Dec 721/2.33 bln/1860 NYSE Adv/Vol/Dec 732/1.51 bln/2320

3:30 pm : Precious metals were once again beneficiaries of the flight to safety on continued concerns about global economies. In overnight trade gold futures rallied to a new all time high at $1881.40, while silver surged to its best levels, at $42.64, since May 3. Neither metal extended their respective rally after pit trade opened. Gold pulled back to near the $1850 mark and spent the remainder of the session chopping around that area. Silver pulled back to the $41.50 mark but manage to rebound off that level to finish near highs. Gold ended with gains of 1.6% at $1851.50 per ounce, while silver finished up 3.9% to $42.30 per ounce.

Sept crude oil, which settled higher by 0.2% to $82.26 per barrel, had an uneventful end to the day as it chopped around the flat line for most of the afternoon. Earlier in the session futures did manage to recoup overnight losses, where they traded as low as $79.17, but it trade was quiet after that. Sept natural gas ended higher by 1.3% to $3.94 per MMBtu. DJ30 -129.11 NASDAQ -30.96 SP500 -13.92 NASDAQ Adv/Vol/Dec 830/1.9 bln/1746 NYSE Adv/Vol/Dec 761/1.1 bln/2278

3:00 pm : The major market averages trade at their worst levels of the session as all three are down 1.3%.

The Volatility Index, also know as the "VIX,' is up close to 3.0% today at 43.92 and has gained more than 20% this week as fears of a global economic slowdown and persisting problems in Europe rattled markets. This week's gains have the VIX just below last week's high of 48.00, a level that was last seen in response to the twin natural disasters in Japan. Should a breakout of the 48.00 level occur the fear gauge will be at a level not seen since the days leading up to the stock market bottom in March 2009. During the heart of the financial crisis the VIX hit a high of 89.53. DJ30 -138.65 NASDAQ -30.54 SP500 -13.65 NASDAQ Adv/Vol/Dec 797/1.72 bln/1765 NYSE Adv/Vol/Dec 689/1.01 bln/2348

2:35 pm : Things are gradually looking worse as the day continues. The early bid in the morning was short lived, and the market has now sunk below yesterday's low, closing out the week on a weak note. The S&P 500 is now down 16% over the past four weeks.

Next week's calendar is relatively light until the end of the week, which brings the annual Jackson Hole economic policy meeting next week (Aug 26-28), where central bankers and economists will be discussing the current economic situation. We've already seen a bit of this, but we would expect speculation about Fed acitivity to intensify in the coming week as we approach that meeting. There are a few retailers of interest reporting results next week, including AEO, GES, TIF, BIG, PSUN.DJ30 -118.93 NASDAQ -26.33 SP500 -11.70 NASDAQ Adv/Vol/Dec 852/1.59 bln/1707 NYSE Adv/Vol/Dec 794/942.0 mln/2230

2:00 pm : The major market averages are now all trading in negative territory as the Dow leads the way lower with a loss of 0.7% while the S&P and Nasdaq are both down 0.5%.

Gold miners are outperforming today on gold's run into record territory. The yellow metal hit an all-time high just above $1880 per ounce earlier in the session, and still trades higher by close to $30 at $1852. The run up in the price of gold has been a beneficiary for gold stocks such as Agnico Eagle Mines (AEM 51.35, +1.45), Newmont Mining (NEM 60.31, +1.89), Goldcorp (GG 51.37, +1.47).DJ30 -75.83 NASDAQ -9.81 SP500 -6.06 NASDAQ Adv/Vol/Dec 1059/1.41 bln/1459 NYSE Adv/Vol/Dec 1058/854.7 mln/1946

1:30 pm : The dollar index continues to climb off session lows and is back near its best levels since the opening of equity markets in the U.S. The index fell to a low near 73.60 as the euro strengthened on reports that the Spanish government had approved additional spending cuts to help the country meet its deficit target. The single currency is trading higher by more than 80 pips at 1.4405 and continues to defy the many skeptics who have been waiting for the demise of the currency. Similar gains can be seen in the Australian dollar as traders jump back into riskier assets. A gain of 65 pips has the currency near 1.0440. The yen touched a postwar high of 75.95 per dollar but has since slipped back to 76.38 as action across the complex has quieted.DJ30 -31.79 NASDAQ +1.05 SP500 +1.10 NASDAQ Adv/Vol/Dec 1290/1.31 bln/1234 NYSE Adv/Vol/Dec 1298/797.9 mln/1704

1:00 pm : The major averages have swung between gains and losses as neither bulls nor bears have been able to take control of the session. The Nasdaq and S&P hold gains of 0.4% and 0.1% respectively while the Dow is lower by 0.1%.

Shares of Hewlett Packard (HPQ 23.61, -5.90) are under heavy selling pressure in the wake of yesterday's news that the company will sell its PC business and acquire European data analytics company Autonomy. In other news, the company reported slightly better than expected earnings of $1.10 per share (Capital IQ Consensus Estimate of $1.11 per share) and saw in-line revenues of $31.2 billion. The company did however announce downside guidance of $1.12-1.16 per share (Capital IQ Consensus Estimate of $1.31 per share) and revenues of $32.1-32.5 billion (Capital IQ Consensus Estimate of $33.99 billion).

Financials are one of the worst performing sectors in the S&P 500, trading down 0.2% collectively. Bank of America (BAC 6.99, -0.02) is lower by 0.3% after announcing they will cut 3,500 jobs this quarter.

Clearwire (CLWR 3.02, +0.71) is seeing strong gains of close to 30% following a Bloomberg report that Sprint (S 3.52, +0.03) will buy the remaining equity in the company that it doesn't already own.

Intuit (INTU 44.29, +3.99) is among the top performers today after beating on both the top and bottom lines. The company announced earnings of $0.02 per share, excluding non-recurring items, which was $0.02 better than the Capital IQ Consensus Estimate of $0.00. Revenues rose 10.4% YoY to $593 million versus the $583.7 million consensus. Management issued in-line guidance for full year 2012, expecting earnings per share of $2.85-2.94, excluding non-recurring items, vs. $2.85 Capital IQ Consensus Estimate and revenues of $4.19-4.29 billion vs. $4.2 billion Capital IQ Consensus Estimate.

Treasuries continue to hold small losses in listless trade. After outperforming all morning long the 30-yr has slipped back into negative territory. Light selling has the 10-yr yield near 2.10%.DJ30 -27.02 NASDAQ +5.68 SP500 +0.24 NASDAQ Adv/Vol/Dec 1369/1.22 bln/1141 NYSE Adv/Vol/Dec 1386/750.2 mln/1604

12:30 pm : The major market averages continue their mixed trade as the Nasdaq holds small gains while the S&P and Dow hold small losses.

Intuit (INTU 44.31, +4.01) is among the top performers today, trading up close to 10% after beating on both the top and bottom lines. The company announced earnings of $0.02 per share, excluding non-recurring items, which was $0.02 better than the Capital IQ Consensus Estimate of $0.00. Revenues rose 10.4% YoY to $593 million versus the $583.7 million consensus. The company issued in-line guidance for full year 2012, expecting earnings per share of $2.85-2.94, excluding non-recurring items, vs. $2.85 Capital IQ Consensus Estimate and revenues of $4.19-4.29 billion vs. $4.2 billion Capital IQ Consensus Estimate.DJ30 -52.32 NASDAQ +2.95 SP500 -2.51 NASDAQ Adv/Vol/Dec 1331/1.14 bln/1171 NYSE Adv/Vol/Dec 1266/707.9 mln/1710

12:00 pm : Treasuries were able to withstand an early dose of selling and are now near their best levels of the U.S. session. The complex revisited its worst levels of the day as equity markets pushed to their highs, but have seen a recent uptick in interest as stocks grind lower. Most maturities trade just fractionally in negative territory while the long bond outperforms. The 30-yr trades up just less than a point which has dropped its yield four basis points to 3.382%. The light selling in the 10-yr has its yield near 2.08% after hitting a record low 1.978% during yesterday's flight to safety following the disappointing Philly Fed number. Light selling has swung the yield curve slightly steeper with the 2-10-yr spread hovering near 188.DJ30 -22.93 NASDAQ +7.82 SP500 -0.04 NASDAQ Adv/Vol/Dec 1396/1.05 bln/1101 NYSE Adv/Vol/Dec 1373/660.6 mln/1602

11:30 am : The major averages continue to see wild swings between gains and losses as neither bulls nor bears have been able to take control of the session. The Nasdaq hovers near unchanged while the Dow and S&P hold losses of 3% and 1% respectively.

Clearwire Corp. (CLWR 3.02, +0.71) is higher by more than 30% following a Bloomberg report that Sprint (S 3.52, +0.03) will buy the remaining equity in the company that it doesn't already own. Just last week a director in the company purchased 2.75 million shares between $1.78 and $1.79.DJ30 -39.85 NASDAQ +2.90 SP500 -1.58 NASDAQ Adv/Vol/Dec 1317/930.1 mln/1137 NYSE Adv/Vol/Dec 1324/597.6 mln/1610

11:00 am : The major market averages continue to see a volatile session as the swing between gains and losses. The Nasdaq is leading the advance with a gain of 0.7% while the S&P and DOw trail with respective gains of 0.5% and 0.2%.

Shares of Hewlett-Packard (HPQ 23.61, -5.90) are under heavy selling pressure, trading down 20% in the wake of yesterday's news that the company will sell its PC business and acquire European data analytics company Autonomy. In other news, the company reported slightly better than expected earnings of $1.10 per share (Capital IQ Consensus Estimate of $1.11 per share) and saw in-line revenues of $31.2 billion. The company did however announce downside guidance of $1.12-1.16 per share (Capital IQ Consensus Estimate of $1.31 per share) and revenues of $32.1-32.5 billion (Capital IQ Consensus Estimate of $33.99 billion).DJ30 +26.34 NASDAQ +17.52 SP500 +5.94 NASDAQ Adv/Vol/Dec 1534/778.6 mln/910 NYSE Adv/Vol/Dec 1597/524.1 mln/1290

10:35 am : The dollar index is on a downtrend this morning, which is providing price support to most commodities this morning. The index hit session lows of 73.62 in recent activity and is currently trading near that level.

Crude oil futures have been volatile this morning and have rallied ~3.5% in the past hour, pushing the energy component into positive territory. In recent activity, crude oil hit new session highs of $83.35/barrel and is now up 1.1% at $83.29/barrel.

Natural gas has been showing strength this morning as well, but has remained below the $4.00 level. In current trade, natural gas is up 1.6% at $3.96/MMBtu.

Gold futures pushed to new session highs of $1880.20/oz during the overnight session, but are pulling back again. Just in the past hour, gold has declined about $34; now at $1846.00, up 1.3%. Silver has traded with gold in today's session, showing strong gains. However, the precious metal is pulling back along with gold currently and is now 2.4% higher at $41.65/oz.DJ30 +85.98 NASDAQ +32.99 SP500 +13.74 NASDAQ Adv/Vol/Dec 1712/631 mln/731 NYSE Adv/Vol/Dec 2040/456 mln/812

10:00 am : The major market averages mixed in a voltaile early trade. The Dow is pacing today's decline with a loss of 0.5% while the S&P is down 0.2%. Recent strength in the Nasadaq has it back in positive territory after revisiting session lows, trading up 0.2%

Financials are among the worst performing sectors in the S&P 500, trading down 0.6% collectively. Bank of America (BAC 6.96, -0.05) is lower by 0.8% after announcing it will cut 3,500 jobs this quarter with that number possibly reaching 10,000. The stock is outperforming peers Citigroup (C 27.59, -0.39) and Wells Fargo (WFC 23.24, -0.48). DJ30 -59.71 NASDAQ +6.15 SP500 -1.36 NASDAQ Adv/Vol/Dec 1139/383.5 mln/1215 NYSE Adv/Vol/Dec 1118/342.8 mln/1686

09:45 am : The major market averages are seeing a mixed trade in the opening minutes. A 0.5% drop in the Dow paces today's declines while the Nasdaq has reversed course and now trades up 0.2%. Financials (0.6%) are seeing the heaviest selling pressure while energy and materials are seeing small gains of 0.1%.DJ30 -45.64 NASDAQ +7.43 SP500 -2.02 NASDAQ Vol 258.8 mln NYSE Vol 292.1 mln

09:15 am : [BRIEFING.COM] S&P futures vs fair value: -13.20. Nasdaq futures vs fair value: -17.00. Equity futures are pointing to a sharply lower open as the Dow trades down 120 points versus fair value on worries of a global economic slowdown and the lingering European sovereign debt crisis. The weakness comes despite corporate earnings in the United States continuing to exceed forecasts. Gap (GPS), Marvell (MRVL), and Salesforce.com (CRM) all beat on both the top and bottom lines. Another record setting day for gold saw the yellow metal climb to near $1880 per ounce before easing to its current $1860. Meanwhile, Treasuries are holding slight losses despite the weakness in equities. The 10-yr yield is higher by a couple of basis points at 2.092%.

08:57 am : [BRIEFING.COM] S&P futures vs fair value: -10.00. Nasdaq futures vs fair value: -11.00. The dollar index has come under pressure in the past hour or so, slipping to a session low near 73.85. The euro now trades up close to 75 pips at 1.4395, running higher on reports that the Spanish government has approved additional spending cuts to help the country meet its deficit target. The recent gains in the single currency have been piggybacked by other risk currencies as both the pound (+60 pips at 1.6565) and aussie dollar (+70 pips at 1.0445) have moved higher on the news. The weakness in the greenback does not stop there as it is now lower against every other major currency. Traders remain focused on the yen and the franc as fears of central bank intervention are limiting moves in those currencies.

08:27 am : [BRIEFING.COM] S&P futures vs fair value: -10.00. Nasdaq futures vs fair value: -6.50.

World markets have seen more selling pressure as worries of a global economic slowdown and the lingering sovereign debt concerns in Europe continue to weigh on equities across the globe. The major Asian indices (Nikkei -2.5%, Hang Seng -3.1%, Shanghai -1.0%) were quite weak, but sellers hammered Indonesian and South Korean equities as their major bourses closed down 4.4% and 6.2% respectively. Technology shares saw large losses in South Korea to pace declines in the Kospi while automakers were under pressure in Japan. Australian financials ended lower after ANZ Bank tumbled 3.8% following weak third quarter trading results.

European shares (FTSE -1.6%, CAC -1.4%, DAX -2.5%) have rebounded off their worst levels of the session, but are still sharply lower as worries in the financial sector remain. Lloyds Banking Group (-5.8%), Allianz (-4.4%), and BNP Paribas (-3.5%) are the worst performing financial shares in their respective bourses. French and German automakers are down 4.0% and 3.0% respectively while energy stocks in Britain are off 4.4%.

08:00 am : [BRIEFING.COM] S&P futures vs fair value: -8.70. Nasdaq futures vs fair value: -4.20. Equity futures are pointing to more losses at the open with the Dow trading 80 points below fair value. Weakness comes following more selling in Europe as financials remain under pressure. Meanwhile, earnings results continue to exceed forecasts with Gap, Marvell, and Salesforce.com beating on the top and bottom lines. Despite the selloff in equities, Treasuries are near their worst levels of the session with the 10-yr yield hovering near 2.10%. Gold futures ran to a record high near $1880 earlier this morning, but recent weakness has knocked the yellow metal back to $1869 per ounce. There is no data scheduled for release today.

06:38 am : [BRIEFING.COM] S&P futures vs fair value: -14.00. Nasdaq futures vs fair value: -22.30.

06:38 am : Nikkei...8719.27...-224.50...-2.50%. Hang Seng...19399.92...-616.40...-3.10%.

06:38 am : FTSE...4959.77...-132.50...-2.60%. DAX...5397.82...-205.00...-3.70%.

Special thanks to Bloomberg, CNNMoney and Yahoo! Finance for their market summaries. gm

Best Regards,
M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Image@ http://twitter.com/wrbtrader and http://stocktwits.com/wrbtrader

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