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 Post subject: October 13th Thursday 2011 Emini TF ($TF_F) points +10.40
PostPosted: Thu Oct 13, 2011 8:50 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: +10.40 points or $1040.00 dollars in the Russell 2000 Emini TF ($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 (e.g. time, price, contract size) about each one of my trades from entry to exit along with price action commentary as the trade traversed...all archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=95&t=1026.

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=144&t=1237

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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 on JPMorgan Earnings; Chipmakers Rise

Oct. 13 (Bloomberg) -- Bloomberg's Cali Carlin reports on the performance of the U.S. equity market today. U.S. stocks fell, paring gains from the best Standard & Poor's 500 Index rally over seven days since 2009, amid lower earnings from JPMorgan Chase & Co. and concern equities rose too much on optimism about Europe's debt crisis. Stocks trimmed losses as chipmakers in the S&P 500 added 1.9 percent and Yahoo! Inc. rose as much as 3.8 percent after people with knowledge of the matter said KKR & Co. and Blackstone Group LP are among firms considering bids for the company.

Financials Drag Stocks Lower

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By Hibah Yousuf October 13, 2011: 4:38 PM ET

NEW YORK (CNNMoney) -- U.S. stocks ended mixed Thursday, as investors took a breather from the recent rallies and turned cautious after a lackluster earnings report from JPMorgan Chase.

The Dow Jones industrial average (INDU) dropped 41 points, or 0.4%, and the S&P 500 (SPX) fell 4 points, or 0.3%. Financials were among the big losers, as JPMorgan Chase (JPM, Fortune 500) and Bank of America (BAC, Fortune 500) dragged on the Dow with shares falling about 5%. Citigroup (C, Fortune 500) and Morgan Stanley (MS, Fortune 500) also sank.

Meanwhile, technology stocks were among the strongest performers. The tech-heavy Nasdaq composite (COMP) was up 16 points, or 0.6%, with Nvidia (NVDA) and Micron Technology (MU, Fortune 500) gaining between about 6%.

After the closing bell, Google (GOOG, Fortune 500) reported third-quarter earnings that handily beat estimates, and said that its Google+ social network now has 40 million users. Shares spiked more than 5% in after-hours trading.

But throughout the trading day, JPMorgan's earnings results weighed on the market. The bank reported profit and revenue figures that topped Wall Street estimates, but fell from a year earlier. Investors were disappointed as CEO Jamie Dimon said the investment bank is being "extremely cautious, while navigating through this challenging economic environment."

"It's a difficult environment for banks to make money," said Dave Hinnenkamp, CEO at KDV Wealth Management. "The banking sector is facing a lot of headwinds, considering what's happening in Europe."

He added that while U.S. banks are well capitalized and in much better shape than they were in 2008, "they are still sensitive to the headlines."

* JPMorgan 'cautious' as income dips

Europe's ongoing debt troubles have been weighing on Wall Street for months. A survey by CNNMoney shows that 80% of the experts agree that the most challenging hurdle for the stock market is the eurozone debt crisis.

On Thursday, Slovakia became the final euro area country to ratify overhauling the European Financial Stability Facility (EFSF), which is essentially a bailout for Greece and other troubled eurozone countries.

The approval was widely expected, after it had previously voted the measure down earlier this week.

* Video - BullHorn: Has the market hit bottom?

Later this week, finance ministers from the world's leading economies will meet to discuss ways to strengthen the faltering global recovery, focusing on the European debt crisis.

Weaker-than-expected trade data from China also spooked investors, amid mounting concerns about a global economic slowdown. While Chinese exports were up 17.1% in September from a year earlier, that was weaker than the 24.5% annual increase in the previous month and below most forecasts, according to reports.

With little other news to lift the mood on Wall Street, investors hit the pause button after solid gains over the last week.

On Wednesday, stocks finished sharply higher, as investors grew optimistic about a resolution for Europe's debt crisis, after European Commission President Jose Manuel Barroso announced a plan to recapitalize European banks.

Wednesday's advance was the sixth out of the last seven days for the S&P 500 and Nasdaq, and fifth for the Dow. The three major indexes are up between 8% and 11% since Oct. 3, when stocks hit their lowest levels in more than a year.

Companies: Research in Motion (RIMM) shares continued to struggle, after the BlackBerry-maker company's worst-ever outage that started in Europe on Monday. RIM said BlackBerry service has been fully restored worldwide Thursday morning.

Apple's (AAPL, Fortune 500) stock ticked higher. The company's iPhone 4S goes on sale in Apple stores Friday, as well Sprint (S, Fortune 500), Verizon (VZ, Fortune 500) and AT&T (T, Fortune 500) locations and select Best Buy (BBY, Fortune 500), Target (TGT, Fortune 500) and Wal-Mart (WMT, Fortune 500) stores. The pre-order of the iPhone 4S was wildly successful, topping 1 million sales in 24 hours.

Raj Rajaratnam, former manager of the the defunct hedge fund Galleon Group, was sentenced on Thursday to 11 years in federal prison and fined $10 million for insider trading.

* Congress passes trade deals

Economy: First-time filings for unemployment benefits fell 1,000 to 404,000, according to the government's weekly report. Economists were expecting 406,000 initial jobless claims. Continuing claims slipped to 3.67 million, slightly below estimates for 3.7 million ongoing claims.

The U.S. trade deficit remained unchanged at $45.6 billion in August.

World markets: European stocks ended lower. Britain's FTSE 100 (UKX) lost 0.7%, the DAX (DAX) in Germany shaved 1.3% and France's CAC 40 (CAC40) slid 1.5%.

Asian markets ended higher. The Shanghai Composite (SHCOMP) ticked up 0.8%, the Hang Seng (HSI) in Hong Kong jumped 2.3% and Japan's Nikkei (N225) added 1%.

Currencies and commodities: The dollar gained against the euro and British pound, but slipped against the Japanese yen.

* Peanut butter prices get nutty - StockTwits

Oil for November delivery dropped $1.34 to settle at $84.23 a barrel.

Gold futures for December delivery fell $14.10 to settle at $1,668.50 an ounce.

Bonds: The price on the benchmark 10-year U.S. Treasury edged slightly higher, pushing the yield down to 2.18% from 2.23% late Wednesday.

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Market Update

4:30 pm : Tech led the Nasdaq to an enviable gain, but the broad market booked a loss as bank stocks and financial services plays succumbed to aggressive selling pressure.

The mood among market participants this morning was dampened by renewed weakness among Europe's major bourses, which moved lower after Asia's major averages staged strong gains in overnight action. Worries about the quality of third quarter bank earnings also weighed on early sentiment.

JPMorgan Chase (JPM 31.23, -1.97), widely regarded as one of the best run and most fundamentally sound banks in the business, posted this morning an upside earnings surprise, but the results were helped by deterioration in the company's own debt prices. Uncertainty about what other banks and financial services firms may report took the KBW Bank Index down almost 5% and the broader financial sector more than 3% lower before losses were trimmed in afternoon trade.

Pressure eased, but didn't exactly evaporate, in afternoon action. That helped the S&P 500 climb to the neutral line after it had been down more than 1% at its session low. Resistance at the flat line kept the broad market measure in negative territory. The Dow followed suit.

The Nasdaq was more successful in its effort. In turn, it scored another gain, which is actually its seventh in eight sessions. The Nasdaq's strength was owed to tech issues, which collectively climbed 1.0% while almost every other sector failed to either logged a loss or remained mired at the neutral line. Internet search giant Google (GOOG 558.99, +10.49) provided leadership ahead of its quarterly report.

Treasuries advanced, but surrendered some of their gains as the stock market recovered into the close. Results from an auction of 30-year Bonds didn't really have an impact on trade. The auction drew a bid-to-cover of 2.94, dollar demand of $38.2 billion, and an indirect bidder participation rate of 28.7%.

As for today's data, the latest initial jobless claims tally declined by 1,000 week over week to 404,000, which is on par with the 406,000 initial claims that had been broadly expected.

The trade deficit for August came in at $45.6 billion, which is slightly less than the $46.1 billion deficit that had been generally anticipated among economists polled by Briefing.com.

Advancing Sectors: Tech +1.0%, Telecom +0.6%
Unchanged: Utilities
Declining Sectors: Health Care -0.1%, Consumer Staples -0.1%, Consumer Discretionary -0.2%, Energy -0.3%, Materials -0.5%, Industrials -0.9%, Financials -2.4%DJ30 -40.72 NASDAQ +15.51 NQ100 +0.9% R2K -0.2% SP400 +0.1% SP500 -3.59 NASDAQ Adv/Vol/Dec 1226/1.67 bln/1271 NYSE Adv/Vol/Dec 1171/898 mln/1831

3:40 pm : It was a busy morning in the energy sector, with both natural gas and crude oil inventory data. Crude oil futures, which ended lower by 1.6% at $84.23, saw a rather muted reaction to the inline inventory data. Futures did spike back toward the flat line in afternoon trade, but after failing to take out overnight highs, they pulled back to below the $85 mark. Natural gas, which posted gains of 1.2% to finish at $3.53, spiked sharply lower following inventory data. Futures put in lows at $3.45, their lowest levels in just over 1 yr. Futures managed to bounce off those lows to end with modest gains.

It was another quiet session for the precious metals after their initial move lower in overnight trade. Gold ended lower by 0.8% at $1668.50 per ounce, while silver shed 3% to close at $31.66 per ounce. Neither metal saw much of reaction to news that Slovakia passed its vote on expanded EFSF fund.DJ30 -68.64 NASDAQ +8.21 SP500 -1.08 NASDAQ Adv/Vol/Dec 1087/1.4 bln/1417 NYSE Adv/Vol/Dec 1031/660.0 mln/1987

3:00 pm : Stocks have resumed their upward push. The effort has made for fresh session highs among all three major equity averages. Although neither the Dow nor the S&P 500 is in positive territory just yet, the Nasdaq is sporting an enviable gain.

The stock market's push comes as participants prepare for the close, which is only an hour away. Share volume hasn't exactly been robust up to this point -- barely a half billion shares have been traded on the NYSE thus far. Share volume is typically considered tantamount to conviction among traders. DJ30 -18.39 NASDAQ +16.02 SP500 -1.64 NASDAQ Adv/Vol/Dec 905/1.15 bln/1555 NYSE Adv/Vol/Dec 910/520 mln/2070

2:30 pm : Unable to extend their recent upturn, stocks are chopping along session highs. Should the stock market fail to find positive territory, it will suffer only its second loss in eight sessions. Heading into today's action, the S&P 500 had advanced in six of seven sessions for a cumulative gain of almost 10%.DJ30 -68.87 NASDAQ +1.09 SP500 -8.76 NASDAQ Adv/Vol/Dec 880/1.05 bln/1590 NYSE Adv/Vol/Dec 830/475 mln/2115

2:00 pm : Stocks have been battling back for the past 30 minutes. The effort has cut the broad market's loss in half and put the Nasdaq in positive territory. The major indices now sit at session highs.

Tech continues to be a lone leader today, whereas financials continue to drag on broad market trade. Financials, off of their lows, are still down almost 3%.

The dollar has surrendered most of its gain in recent trade. As such, it is now up less than 0.1% against a basket of major foreign currencies. Most of the dollar's downturn is due to a bounce by the euro and sterling pound. DJ30 -50.18 NASDAQ +2.98 SP500 -6.65 NASDAQ Adv/Vol/Dec 880/960 mln/1570 NYSE Adv/Vol/Dec 805/435 mln/2120

1:30 pm : Treasuries haven't moved much in the wake of an auction of 30-year Bonds. The auction drew a bid-to-cover of 2.94, dollar demand of $38.2 billion, and an indirect bidder participation rate of 28.7%. For comparison, the priorauciton drew a bid-to-cover of 2.85, dollar demand of $37.1 billion, and an indirect bidder rate of 39.4%. An average of the past six auctions results in a bid-to-cover of 2.60, dollar demand of $36.1 billion, and an indirect bidder rate of 34.7%.DJ30 -61.91 NASDAQ +3.74 SP500 -6.50 NASDAQ Adv/Vol/Dec 740/855 mln/1675 NYSE Adv/Vol/Dec 580/395 mln/2350

1:00 pm : The broad equity market has been under pressure all session. Financials have been a particularly heavy drag.

Stocks ended the prior session in weak fashion after failing to overcome some technical resistance, but they still scored their sixth gain in seven trading days. During that time the stock market ascended almost 10%. Such a strong move in such short time has prompted some to take pause, and profits too, leaving stocks to slide. Of course, a weak performance by Europe's major bourses in the most recent round of trade hasn't exactly bolstered additional buying interest among market participants.

Financials have been in focus since the start of the session. Down in excess of 3%, the sector's weakness has weighed heavily on the rest of the market. Bank stocks have been beaten down quite aggressively in the wake of the latest quarterly report from JPMorgan Chase (JPM 31.23, -1.97). The diversified financial services outfit posted a better-than-expected bottom line, but the quality of that beat has been called into question. Given that JPM is widely regarded as one of the most fundamentally sound and well run banks, investors are cautious about what its peers may be about to report.

In contrast, tech stocks have displayed with relative strength. The sector successfully limited losses this morning and has since made its way to a modest gain of about 0.4% -- it is still the only major sector that has managed to find higher ground. Google (GOOG 551.99, +3.49) has been a source of support ahead of its quarterly report this evening, but Akamai Tech (AKAM 24.50, +1.13) has been a top performer amid takeover rumors, which have been refuted by various reports.

Data today didn't really contain any surprises. Weekly initial jobless claims remained just above 400,000, as had been expected. Meanwhile, the latest trade deficit totaled $45.6 billion. It had been expected to total $46.1 billion. The latest Treasury Budget will be posted at 2:00 PM ET.

Due at any moment are results from an auction of 30-year treasury Bonds. Treasuries have been bid higher today in response to the equity market's overall weakness. Buying has the yield on the benchmark 10-year Note at 2.15%. The yield on the 30-year Bond is almost 100 basis points greater than that. DJ30 -95.13 NASDAQ -4.80 SP500 -11.71 NASDAQ Adv/Vol/Dec 670/785 mln/1720 NYSE Adv/Vol/Dec 500/365 mln/2415

12:30 pm : The Nasdaq has failed to build the base for a bounce at the neutral line. Instead, the tech-rich Index has fallen back into negative territory. Nonetheless, its loss remains only a fraction of what the broad market has thus far suffered.

Amid weakness in the stock market, Treasuries have ticked higher. The benchmark 10-year Note is currently up about a half of a point. Action among Treasuries could pick up with the release of results from an auction of 30-year Bonds at the top of the hour. DJ30 -113.30 NASDAQ -5.79 SP500 -13.38 NASDAQ Adv/Vol/Dec 725/720 mln/1645 NYSE Adv/Vol/Dec 575/340 mln/2320

12:00 pm : The Nasdaq has made its way to the neutral line with help from tech stocks, which are collectively up 0.4%. No other sector has managed to find higher ground.

Strength within the tech sector is relatively broad. As a result, Intel (INTC 23.27, +0.15), IBM (IBM 186.90, +0.78), Texas Instruments (TXN 30.32, +0.62), Google (GOOG 555.15, +6.65), and Apple (AAPL 407.08, +4.89) are all up with enviable gains. DJ30 -88.41 NASDAQ -0.45 SP500 -10.59

11:30 am : The stock market remains mired near its session low, but Google (GOOG 552.37, +3.87) has managed to put together a nice gain ahead of its quarterly report this evening. Its strength has managed to help support the Nasdaq, which is down less than half of what either the S&P 500 or the Dow has suffered this session.DJ30 -108.00 NASDAQ -9.03 SP500 -13.83 NASDAQ Adv/Vol/Dec 670/525 mln/1640 NYSE Adv/Vol/Dec 445/255 mln/2440

11:00 am : After some choppy action, stocks have started to slide deeper into negative territory. The stock market's loss has now fully offset yesterday's advance.

Financials continue to take the heaviest toll on trade. The sector is now down 3.4%. Banks are weighing heavily on the financial space. Their weakness has the KBW Bank Index down 4.2% today. The KBW's drop has come amid relatively strong share volume. DJ30 -123.48 NASDAQ -12.85 SP500 -14.96 NASDAQ Adv/Vol/Dec 650/400 mln/1600 NYSE Adv/Vol/Dec 425/200 mln/2415

10:35 am : The dollar index is near its current session high of 77.43, which has pressured the commodity space this morning.

Crude oil futures have been in the red all morning and hit a new session low of $83.17/barrel about 40 minutes ago. Currently, crude is at 83.79/barrel, down 2.1% At 11:00am EST, weekly inventory is scheduled to be released (Consensus is calling for a build of 0.8 million barrels)

Natural gas futures picked up steam a couple of hours ago, moving into positive territory. The energy component rose to a new session high of $3.52/MMBtu ahead of inventory data. Following the data, which showed a build of 112 bcf versus the consensus that called for a build of 100 bcf, nat gas pulled back into negative territory; now at $3.47, down 0.6%.

Precious metals have been in the red all morning and put in new session lows in recent activity (Gold $1654.30, Silver $31.49). In current trade, gold is down 1.3% at $1661.60/oz. and silver is down 3.2% at $31.75/oz.DJ30 -85.14 NASDAQ -3.38 SP500 -10.18 NASDAQ Adv/Vol/Dec 695 /361 mln/1540 NYSE Adv/Vol/Dec 466/185 mln/2382

10:00 am : Financials have extended their early slide so that the sector now trades with a 2.9% loss. JPMorgan Chase (JPM 31.55, -1.54) has been a heavy drag on the space; the stock is down 5% even though its latest quarterly earnings exceeded what Wall Street had expected. The company is just beginning its conference call.

Tech continues to hold up well. The sector's 0.2% loss comes as the rest of the market slides to a morning low that has left it to contend with a cumulative loss of more than 1%. Even though tech is the largest sector by market weight and is in the best shape of any major sector, the broad market is refusing to follow its lead. DJ30 -109.29 NASDAQ -11.60 SP500 -12.26 NASDAQ Adv/Vol/Dec 515/98 mln/1525 NYSE Adv/Vol/Dec 425/70 mln/2265

09:45 am : The broad market has slid off of the open to a marked loss. Although early losses are broad, the stock market's descent has been primarily driven by weakness in the financial sector, which has already dropped to a 2.3% loss. The sector's slide hasn't quite completely dashed its 2.7% advance in the prior session.

Tech stocks have done a relatively good job of limiting losses this morning. More specifically, the sector is down only 0.2%. That has helped keep the Nasdaq from falling as sharply as its counterparts. Akamai Tech (AKAM 24.29, +0.92) is a top performer among Nasdaq-listed tech plays, thanks to speculation about a potential takeover. Various reports have refuted such speculation, though. DJ30 -88.13 NASDAQ -8.93 SP500 -11.30 NASDAQ Adv/Vol/Dec NA/NA/NA NYSE Adv/Vol/Dec NA/NA/NA

09:15 am : S&P futures vs fair value: -7.50. Nasdaq futures vs fair value: -5.00. Stock futures are up from their morning lows, but they still point to a mixed to modestly lower start to the session. The action reflects that of Europe, where the major bourses have attempted to trim losses in recent trade. Dampened sentiment there has also put pressure on the euro, which is down 0.4% to $1.373 after it set a near one-month high in the prior session. Early participants have shrugged off better-than-expected earnings results from diversified financial services giant JPMorgan Chase (JPM) after the stock set a three-week high yesterday. Data has also failed to excite. Weekly initial jobless claims held steady narrowly above 400,000, as had been expected. The latest trade deficit totaled $45.6 billion, which is about $500 million below what had been broadly expected. The latest Treasury Budget will be posted at 2:00 PM ET. Before that, though, market participants get their hands on results from an auction of 30-year treasury Bonds at 1:00 PM ET.

09:05 am : S&P futures vs fair value: -7.40. Nasdaq futures vs fair value: -4.50. Stock futures have ticked a few points higher as buyers in Europe begin to battle back a bit, offsetting some of the losses recently suffered by the region's major bourses. As such, Germany's DAX has cut its loss to 1.0%. Commerzbank and Deutsche Bank (DB) are weighing heavily on trade. Advancing issues are limited. Deutsche Post and Infineon Tech are among the few that have managed to muster gains. Germany's final CPI reading for September showed a 2.6% increase, unchanged from the preliminary reading. France's CAC is now down 0.9%. BNP Paribas, Axa (AXA), and Societe Generale are leading losses. Alcatel-Lucent (ALU) shares are up nicely, though; the stock's strength comes in response to reports that the company plans to sell its call unit. Britain's FTSE is presently grappling with a 0.9% loss. Man Group Plc, Anglo American Plc, Barclays (BCS), and Lloyds Group (LYG) are among the heaviest drags on trade, but Rolls-Royce Holdings is trading sharply higher in the face of broad market weakness. The Visible Trade Deficit for the United Kingdom totaled 7.77 billion pounds in August. That's less than the downwardly revised 8.80 billion pound deficit posted for the prior month.

Overnight action took Japan's Nikkei 1.0% higher to its best closing level in a month. Yaskawa Electric and Furukawa Electric were the top performers; both advanced almost 8%. Fast Retailing and Nikon were both unable to participate in the relatively broad bounce. Hong Kong's Hang Seng swung to a 2.3% gain. Property plays and developers outperformed. Their heady gains came amid the belief that policies would not be implemented to further stabilize property prices. Esprit Holdings also staged an impressive performance as it rallied back from the sharp slide that it had suffered in the prior session. Mainland China's Shanghai Composite closed 0.8% for the better. Metals and mining plays provided leadership. China's latest economic release featured a $4.51 billion September trade balance, down from $7.76 billion balance for the same period one year ago. The country's third quarter Business Climate Index slipped to 133.4 from 135.6 for the previous quarter.

08:35 am : S&P futures vs fair value: -9.10. Nasdaq futures vs fair value: -7.00. There haven't been any real surprises in the latest round of economic reports, so stock futures are little changed from earlier levels. Initial jobless claims for the week ended October 8 totaled 404,000, which is on par with the 406,000 initial claims that had been broadly expected. Claims for the prior week were revised slightly higher to 405,000, resulting in little change week over week. The trade deficit for August came in at $45.6 billion, which is slightly less than the $46.1 billion deficit that had been generally anticipated among economists polled by Briefing.com.

08:05 am : S&P futures vs fair value: -10.90. Nasdaq futures vs fair value: -11.00. Stocks finished the prior session in weak fashion, but the broad market still scored its sixth gain in seven trading days. Selling pressure, although moderate, has extended into this morning's trade as participants continue to take their cues from Europe's major bourses, which have pulled back in their most recent round of action. An upside earnings surprise from JPMorgan Chase (JPM) has done little to offer support ahead of the open. Shares of the diversified financial services giant are down in excess of 1% ahead of the open. Their slide comes after the stock set a three-week high yesterday. Monthly international trade data and the latest weekly tally of initial jobless claims are due at the bottom of the hour. The monthly Treasury Budget will be released at 2:00 PM ET. Also on the docket, weekly natural gas inventories are due at 10:30 AM ET, followed by weekly oil inventories at 11:00 AM ET. Results from an auction of 30-year Bonds will be released at 1:00 PM ET. Google (GOOG) will report its latest quarterly results after the close.

06:50 am : [BRIEFING.COM] S&P futures vs fair value: -8.30. Nasdaq futures vs fair value: -7.30.

06:50 am : Nikkei...8823.25...+84.40...+1.00%. Hang Seng...18757.81...+428.40...+2.30%.

06:50 am : FTSE...5392.21...-49.60...-0.90%. DAX...5912.28...-82.20...-1.40%.

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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