TheStrategyLab.com Free Support Forum

Forum for price action traders that want to learn WRB Analysis basic tutorial chapters 1, 2 and 3 prior to purchasing our advance trade methods
It is currently Thu Dec 14, 2017 9:46 pm

All times are UTC - 5 hours




Post new topic Reply to topic Bookmark and Share  [ 1 post ] 
Author Message
 Post subject: October 25th Tuesday 2011 Emini TF ($TF_F) points +24.10
PostPosted: Tue Oct 25, 2011 8:56 pm 
Offline
Site Admin

Joined: Sat Jan 10, 2009 1:06 pm
Posts: 3020
Location: Canada
Image

Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)

Attachment:
102511-wrbtrader-PnL-Blotter-Profit-2410.png
102511-wrbtrader-PnL-Blotter-Profit-2410.png [ 75.12 KiB | Viewed 74 times ]

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

Trade Performance for Today: +24.10 points or $2410.00 dollars in the Russell 2000 Emini TF ($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=1035.

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

-----------------------------

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 Decline on Disappointing Economic Data

Oct. 25 (Bloomberg) -- Bloomberg's Deborah Kostroun reports on the performance of the U.S. equity market today. U.S. stocks fell, halting a three-day rally, as United Parcel Service Inc. slumped, economic reports missed estimates and uncertainty grew over how much progress European leaders are making in debt-crisis talks.

Stocks Stumble As Europe Clouds The Markets

Attachment:
102511-Key-Price-Action-Markets.png
102511-Key-Price-Action-Markets.png [ 534.04 KiB | Viewed 76 times ]

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

By Hibah Yousuf October 25, 2011: 4:30 PM ET

NEW YORK (CNNMoney) -- U.S. stocks ended at the lowest levels of the day Tuesday, with a sell-off picking up steam in the final minutes of trading, as investors geared up for a key summit on Europe's debt crisis.

A handful of disappointing earnings reports also added to the gloomy mood on Wall Street.

The Dow Jones industrial average (INDU) finished 207 points lower, or 1.7%. The S&P 500 (SPX) slid 25 points, or 2%, and the Nasdaq composite (COMP) lost 61 points, or 2.3%. The day's decline snapped a 3-day winning streak for the Dow and S&P 500.

Netflix (NFLX) was a big loser Tuesday, a day after the company announced it lost 800,000 U.S. subscribers in the quarter. Shares sank nearly 35%, dragging on both the S&P 500 and Nasdaq indexes.

Meanwhile, 3M (MMM, Fortune 500) -- which missed analysts' earnings estimates -- weighed on the Dow with shares falling more than 6%.

Financial stocks were also sharply lower, with Citigroup (C, Fortune 500), JPMorgan Chase (JPM, Fortune 500), Bank of America (BAC, Fortune 500), Wells Fargo (WFC, Fortune 500), Goldman Sachs (GS, Fortune 500) all down between 2% and 4%.

Investors are awaiting a European summit Wednesday, when government heads -- including German Chancellor Angela Merkel and French President Nicolas Sarkozy -- have pledged to unveil a comprehensive plan to tackle the region's debt crisis.

Markets have been rallying on that promise since the start of October, and many traders say financial markets have already priced in high expectations. But with only a day remaining, uncertainty has weakened that resolve.

* Europe: Grimmer by the minute

Investors were briefly spooked early Tuesday by news that a meeting of EU finance ministers had been cancelled. The meeting had not actually been confirmed, but the market reaction highlighted just how jittery investors are.

"The political obstacles that are in the way of getting a big agreement tomorrow are huge, and anyone who expects a big outcome is living somewhere on Saturn," said Michael Hewson, market analyst at CMC Markets in London.

In addition to dealing with Greece's financial troubles, European politicians also have to tackle a plan that will support Italy and other struggling European nations, Hewson said. Given the increasing number of moving parts, Hewson thinks European leaders will continue to kick the can down the road for several months longer, as they struggle to agree on the terms of a solution.

* Italy's political drama imperils euro rescue

"We're on a slow-moving train, and the destination is still unknown," he said. "I'm really surprised in the naivety of markets in thinking that there would be a clearly defined outcome soon."

U.S. stocks ended sharply higher Monday, as investors welcomed two merger announcements and strong earnings from Caterpillar (CAT, Fortune 500).

* Video - Netflix bleeds subscribers

Companies: BP (BP) shares rose, after the oil company announced its profit rose to $4.9 billion in the third quarter -- up from $1.8 billion in the year-prior quarter.

Swiss pharmaceutical company Novartis AG (NVS) announced Tuesday that it will cut 2,000 jobs over the next three to five years. Shares fell as the announcement was coupled with a weaker-than-expected earnings report.

Online retailer Amazon.com's (AMZN, Fortune 500) third-quarter earnings sharply missed Wall Street estimates, sending shares 17% lower in after-hours trading Tuesday. Amazon earned 14 cents a share during the quarter, down 73% from a year ago and far below forecasts of 24 cents a share.

Shares of First Solar (FSLR) dropped more than 25% after the company announced that CEO Rob Gillette is leaving after less than three years on the job. Chairman and founder Mike Ahearn will serve as interim CEO as the company searches for a replacement.

* Video - EC's Barroso: We may need treaty change

Economy: Consumer confidence fell sharply to 39.8 in October -- its lowest reading since March 2009. Economists were expecting the figure to hold steady at 46.

Home prices rose for a fifth straight month in August, according to the S&P/Case-Shiller index -- a gauge of home prices across 20 major cities. Prices edged up 0.2% during the month, but remain down 3.8% on a yearly basis.

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

* Junk bonds are hot, but there's still plenty of fire

Oil for December delivery gained $1.90 to settle at $92.17 a barrel.

Gold futures for December delivery added $48.10 to settle at $1,700.40 an ounce.

Bonds: The price on the benchmark 10-year U.S. Treasury rose, pushing the yield down to 2.12% from 2.23% late Monday.

World markets: European stocks ended in the red. Britain's FTSE 100 (UKX) edged down by 0.4%, the DAX (DAX) in Germany fell 0.1%, while France's CAC 40 (CAC40) slid 1.6%.

Asian markets ended mixed. The Shanghai Composite (SHCOMP) rose 1.7% and the Hang Seng (HSI) in Hong Kong added 1.1%, while Japan's Nikkei (N225) shed 1%.

Image

Market Update

4:30 pm : The stock market's recent win streak was snapped by a concerted selling effort that left stocks to settle at session lows with steep losses. The sell-off precedes a highly anticipated European Union Summit.

Sellers made their presence felt in the first few minutes of action. Their push against stocks was made as headlines surfaced that a meeting between finance ministers of the European Union originally scheduled for Wednesday is cancelled. That caused concern that officials might also postpone an EU Summit scheduled for tomorrow. The Summit is expected to produce some definitive details on just how to improve financial conditions in Europe.

Although no delays to the Summit were announced, participants displayed concern that the meeting may not produce the results wanted by the market. That prompted many to pare their positions in stocks, thereby pocketing profits earned in the past three sessions, during which time the broad market climbed almost 4%. Pressure persisted into the close, leaving stocks to settle at session lows.

Financials were hit the hardest. The sector slumped to a loss of little more than 3%. Bank stocks fell sharply out of favor, primarily due to concerns about their exposure to Europe. However, European-based investment banks and brokerage plays Deutsche Bank (DB 39.44, -0.17) and UBS (UBS 12.57, -0.02) were able to limit losses after the pair posted upside earnings surprises for the latest quarter.

Most quarterly reports featured better-than-expected earnings. Texas Instruments (TXN 30.97, -0.72), BP Plc (BP 43.52, +1.68), Coach (COH 61.56, -1.10), DuPont (DD 44.94, -1.15), Illinois Tool (ITW 45.65, -2.58), UPS (UPS 69.35, -1.52), US Steel (X 22.40, -2.37), AK Steel (AKS 7.47, -1.18), and Netflix (NFLX 77.37, -41.47) all exceeded consensus earnings estimates, but concerns about the futures earnings of the final three names tore their prices down. 3M (MMM 77.04, -5.14) was a notable name on the short list of companies that came short of what Wall Street had expected. Weakness among stocks provoked interest in Treasuries.

Results from an auction of 2-year Notes also displayed strong demand for safety. The auction drew a bid-to-cover of 3.64, dollar demand of $127.4 billion, and an indirect bidder participation rate of 39.2%. For comparison, an average of the past six auctions results in a bid-to-cover of 3.33, dollar demand of $116.4 billion, and an indirect bidder rate of 31.2%.

Data today featured the August S&P/Case-Shiller 20-City Housing Price Index, which fell by 3.8%. A 3.5% decline had been expected, on average, among economists polled by Briefing.com. Still, the slide wasn't as steep as the 4.1% decline experienced in the prior month.

The Conference Board released its October Consumer Confidence Index, which fell to 39.8. Not only did that miss the 46.0 that had been expected, but it also proved to be the worst reading in more than two years.

Advancing Sectors: (None)
Declining Sectors: Consumer Staples -1.1%, Utilities -1.3%, Tech -1.7%, Telecom -1.8%, Health Care -2.0%, Energy -2.0%, Industrials -2.0%, Consumer Discretionary -2.2%, Materials -2.5%, Financials -3.1%DJ30 -207.00 NASDAQ -61.02 NQ100 -2.0% R2K -3.0% SP400 -2.4% SP500 -25.14 NASDAQ Adv/Vol/Dec 474/1.78 bln/2053 NYSE Adv/Vol/Dec 528/1.01 bln/2504

3:30 pm : Precious metals rallied sharply today. Gold prices surged 2.9% to settle at $1700.40 per ounce, while silver prices finished up 4.4% at $33.05 per ounce. Worse-than-expected consumer confidence data, coupled with concerns about what was happening over in the euro zone, helped the precious metals rally throughout the day. Gold put in highs at $1704.70, a ~1 month high, while silver notched highs at $33.34, also a ~1 month high.

Crude oil prices added to yesterday's rally, adding 2.1% to finish at $93.17 per barrel. Most of crude's gains came in electronic trade. Futures traded in a relatively small range throughout the session, but once again closed the gap between Brent prices. Shrinking stocks in Cushing, Oklahoma helped crude oil trade higher for its second consecutive session. Today's highs, at $94.65, are crude's best since August 2. Natural gas ended higher by 1.6% at $3.66 per MMBtu. DJ30 -154.47 NASDAQ -50.90 SP500 -14.69 NASDAQ Adv/Vol/Dec 519/1.4 bln/1981 NYSE Adv/Vol/Dec 613/683.2 mln/2440

3:00 pm : Stocks are trying to work their way up from afternoon lows as they enter the final hour of trade. Weakness remains widespread, though.

This session's loss threatens to snap the stock market's winning streak, which currently stands at three. Heading into today's trade, the S&P 500 climbed almost 4% in three sessions to close above the 1250 line for the first time in more than two months. DJ30 -108.91 NASDAQ -40.82 SP500 -14.71 NASDAQ Adv/Vol/Dec 550/1.23 bln/1940 NYSE Adv/Vol/Dec 610/595 mln/2390

2:30 pm : The Nasdaq is at a new session low, but neither of its counterparts have confirmed the move. That said, though, weakness is widespread with all 10 major sectors in the red and only two of them (consumer staples and utilities) trading with losses of less than 1%.

Despite pressure against stocks and uncertainty related to the eurozone's handling of its precarious financial conditions, the dollar hasn't attracted much support this session. It was up modestly earlier, but has since backed down so that it is now flat against a basket of major foreign currencies.

Meanwhile, Treasuries continue to sport impressive gains. The benchmark 10-year Note is now near its session high, sporting a gain of almost one full point. DJ30 -136.65 NASDAQ -46.41 SP500 -17.57 NASDAQ Adv/Vol/Dec 570/1.12 bln/1895 NYSE Adv/Vol/Dec 630/550 mln/2340

2:00 pm : Near its session low, the Nasdaq is trading with a slightly steeper loss than either of its counterparts. During the prior session it staged a gain that was more than double that of the Dow.

Netflix (NFLX 77.49, -41.35) remains one of the Nasdaq's worst performers. The stock's dive today takes shares to their lowest level in more than a year and more than 70% below the high that they set this past July. The aggressive selling comes in response to a disappointing outlook, which has overshadowed the company's upside earnings surprise for the latest quarter. DJ30 -111.33 NASDAQ -38.68 SP500 -14.54 NASDAQ Adv/Vol/Dec 590/1.01 bln/1860 NYSE Adv/Vol/Dec 675/500 mln/2280

1:30 pm : Treasuries continue to trade with strength in the wake of results from an auction of 2-year Notes. The auction drew a bid-to-cover of 3.64, dollar demand of $127.4 billion, and an indirect bidder participation rate of 39.2%. For comparison, the prior auction drew a bid-to-cover ratio of 3.76, dollar demand of $131.6 billion, and an indirect bidder rate of 36.7%. An average of the past six auctions results in a bid-to-cover of 3.33, dollar demand of $116.4 billion, and an indirect bidder rate of 31.2%.DJ30 -105.73 NASDAQ -33.06 SP500 -13.52 NASDAQ Adv/Vol/Dec 635/945 mln/1810 NYSE Adv/Vol/Dec 690/465 mln/2250

1:00 pm : Stocks fell sharply in the early going as participants reacted to news that a meeting among European Union finance ministers has been cancelled. Although that meeting is separate from the highly anticipated EU Summit, stocks have been unable to recover.

Concerns that European officials remain divided on details related to plans aimed at restoring financial conditions in the region have kept stocks in the red all session. Sentiment has been further challenged by an ugly consumer confidence reading from the Conference Board -- the 39.8 posted for September was the worst reading in more than two years.

Pressure has been most pronounced agains financial stocks, mostly because of rekindled concerns about the exposure of banks to Europe. Collectively, financial stocks are down almost 2%.

Not a single sector is actually displaying any strength. Materials stocks recently attempted to approach the neutral line, but resistance caused the sector to retreat back to a loss of almost 1%. Steel stocks have been a heavy drag following the latest quarterly announcements from a couple of key industry players.

Netflix (NFLX 78.29, -40.55) has been an awful performer this session. The stock has surrendered roughly one-third of its market cap in response to the company's guidance, which has cast a dark pall over the upside earnings surprise reported for the latest quarter. Shares of NFLX are down more than 70% in only three months. DJ30 -107.36 NASDAQ -33.83 SP500 -13.63 NASDAQ Adv/Vol/Dec 655/860 mln/1780 NYSE Adv/Vol/Dec 680/430 mln/2240

12:30 pm : There isn't a single sector in positive territory today, but materials stocks are making the best effort at changing that. The sector has managed to trim its loss to about 0.4% after it had been down about 2% at its session low. Although steel stocks like US Steel (X 23.07m -1.70) and AK Steel (AKS 7.74, -0.91) are still down sharply in the wake of their latest quarterly reports, names like Newmont Mining (NEM 65.58, +1.77) and Mosaic (MOS 60.05, +0.83) are offering support. DuPont (DD 46.22, +0.13), which posted an upside earnings surprise this morning, is also lending support.DJ30 -70.24 NASDAQ -25.51 SP500 -9.73 NASDAQ Adv/Vol/Dec 590/790 mln/1820 NYSE Adv/Vol/Dec 660/395 mln/2240

12:00 pm : Officials in Europe continue to wrestle with plans intended to shore up financial conditions in the continent. That ulitimately undermined action among the region's major bourses in the latest round of trade. In Germany, the DAX ended the day only 0.1% lower, but it had spent most of the session sporting a solid gain with help from financial outfits like Commerzbank and Deutsche Bank (DB 39.91, +0.30), which unveiled this morning a better-than-expected earnings report. In contrast, financials weighed on France's CAC, which fell to a 1.4% loss. Britain's FTSE fell 0.4% amid weakness in Barclays (BCS 11.64, -0.37) and Rio Tinto (RIO 52.92, -1.60). BP Plc (BP 43.89, +2.05) staged a big bounce on the back of a better-than-expected earnings report, though.

Overnight action in Asia left the region's major equity averages to finish with varied results. Specifically, Japan's Nikkei fell to a 0.9% loss. Fanuc was a source of considerable weakness after its forecast underwhelmed. Canon (CAJ 45.09, -1.80) also moved lower after a disappointing outlook overshadowed a better-than-expected earnings report. Shares of Olympus turned around to trade as a top performer after suffering seven straight losses. There weren't any major economic releases from Japan, but its central bank said it will cut its two-year growth forecast for the country's output. In Hong Kong, the Hang Seng scored a 1.1% gain. CNOOC (CEO 182.56, -0.06) was a leader for the second straight session. Mainland China's Shanghai Composite closed trade with a 1.6% gain. Financials were generally among the strongest performers, thanks in part to a buzz about a possible cut to the country's reserve requirement ratio. DJ30 -116.10 NASDAQ -36.09 SP500 -15.18 NASDAQ Adv/Vol/Dec 535/705 mln/1825 NYSE Adv/Vol/Dec 510/350 mln/2370

11:30 am : Earlier today the Dollar Index slipped below the 76 line for the first time in more than a month, but managed to rebound. It was last quoted with a 0.2% gain at about 76.3. Headlines that a meeting between EU finance ministers will be cancelled brought buyers back to the dollar. Some analysts expect the greenback to remain in favor as reports continue to suggest that European leaders are still apart on key issues regarding details related to plans intended to shore up financial conditions in the region.

Meanwhile, the euro set a six-week high of $1.396 earlier today, but in conjunction with headlines from Europe the currency has faltered. It now trades closer to $1.389, which makes for a 0.2% loss. Also in the backdrop, a Spanish debt auction saw strong demand this morning. As for the sterling pound, it was able to regain the $1.60 area, although only briefly, before being chopped back down with the euro. It is currently at $1.597 for a 0.1% loss.

As for the yen, it hit a post-WWII high against the dollar, pushing to 75.75 yen per dollar in early U.S. trade. It has since drifted down to 75.95 yen per dollar. The action precedes a meeting tomorrow night by members of the country's central bank, which already announced that it will cut its forecast for the country's growth rate. DJ30 -111.64 NASDAQ -32.20 SP500 -14.81 NASDAQ Adv/Vol/Dec 520/620 mln/1820 NYSE Adv/Vol/Dec 460/310 mln/2415

11:00 am : The stock market's efforts to climb up from its morning low keeps being interrupted by renewed selling pressure. Most recently, stocks set a fresh rebound high as the S&P 500 came in contact with the 1245 line, but it has since been backed down to about 1240.

Financials have been a heavy drag on overall action. The sector's 1.9% loss is worse than what any other sector has had to endure. Within the financial sector, insurance plays like Travelers (TRV 56.31, -1.31) and Hartford (HIG 18.17, -1.02) in particularly weak shape. DJ30 -108.53 NASDAQ -27.51 SP500 -13.86 NASDAQ Adv/Vol/Dec 570/475 mln/1680 NYSE Adv/Vol/Dec 560/245 mln/2260

10:35 am : Despite strength in the dollar index, commodities, as measured by the CRB Commodity Index are showing gains this morning.

Crude oil futures have been in positive territory all session. The energy component ran as high as $94.49/barrel about one hour before floor trading began and is currently up 2.8% at $93.80/barrel.

After trading flat in overnight activity, natural gas picked up steam just after 6am EST and trended higher all morning until hitting its current session high at $3.70/MMBtu. Nat gas is now trading 1.1% higher at $3.64/MMBtu.

Gold and silver futures rallied sharply in recent trade. Gold ran over $30 higher, just after 10am EST to a new session high of $1686.60/oz, while silver rallied for 3% to its own new session high of $32.38. In current activity, gold is up 2.0% at $1685.70 and silver is 1.9% higher at $32.23/oz.DJ30 -80.04 NASDAQ -23.62 SP500 -11.16 NASDAQ Adv/Vol/Dec 509/447 mln/1742 NYSE Adv/Vol/Dec 505/235 mln/2323

10:05 am : The stock market's efforts to rebound from their morning dive have been challenged by a bad Consumer Confidence Index from the Conference Board. The Consumer Confidence Index fell to 39.8 in October from 45.4 in the prior month. It had been broadly expected to increase marginally to 46.0.

Persistent pressure against stocks has helped prop up Treasuries. The flight to quality has the benchmark 10-year Note up by a dozen ticks, which is enough to pull its yield back to 2.20%. DJ30 -149.10 NASDAQ -34.68 SP500 -17.15 NASDAQ Adv/Vol/Dec 315/159 mln/1775 NYSE Adv/Vol/Dec 300/95 mln/2390

09:45 am : Stocks opened trade in the red, but selling quickly turned aggressive as participants reacted to headlines that indicated a meeting tomorrow among European Union Finance Ministers has been cancelled. The recognition that the cancelled meeting is separate from the highly anticipated EU Summit has helped the major equity averages start to recover their losses.DJ30 -110.24 NASDAQ -27.35 SP500 -12.65 NASDAQ Adv/Vol/Dec NA/NA/NA NYSE Adv/Vol/Dec NA/NA/NA

09:15 am : S&P futures vs fair value: -8.30. Nasdaq futures vs fair value: -12.30. Deteriorating sentiment has left stock futures to drift lower, such that a negative start to today's trade now appears to be in order. The change in mood comes amid reports that leaders in Europe continue to grapple with the development of a plan suitable to member countries responsible for offering funds that will help restore financial conditions in the broader eurozone. Earnings, which generally bested expectations for the bottom line, were initially supportive of a positive bias, but they have since been shrugged off by many participants. Economic data has been limited to an August Housing Price Index that experienced a slightly steeper decline than what had been anticipated. Still to come is the latest Consumer Confidence Index (10:00 AM ET). Results from an auction of 2-year Notes will be released at 1:00 PM ET.

09:05 am : S&P futures vs fair value: -8.10. Nasdaq futures vs fair value: -11.80. Stock futures continue to drift downward, positioning the cash market for a lower open. Little help has been offered in the wake of the latest S&P/Case-Shiller Housing Price Index. The Index indicated that housing prices in a 20-city composite fell by 3.8% during August. That's a bit steeper than the 3.5% decline that had been generally expected among economists polled by Briefing.com. However, it's not as bad as the 4.1% decline that was experienced in the prior month.

08:35 am : S&P futures vs fair value: -3.20. Nasdaq futures vs fair value: -3.30. Oil prices climbed more than 4% during pit trade yesterday. Futures prices for the energy component have been bid up almost 3% more to $93.90 per barrel this morning. Natural gas prices are also pushing higher; they were last quoted with a 1.3% gain at $3.65 per MMbtu. Precious metals are making more moderate gains this morning. Specifically, gold prices are currently up just 0.3% to $1656.70 per ounce, while silver prices are up only 0.2% to $31.70 per ounce.

08:05 am : S&P futures vs fair value: -1.00. Nasdaq futures vs fair value: -0.30. The positive bias to premarket trade has moderated recently, leaving stock futures to trade flat. As participants await developments and updates regarding the eurozone's efforts to restore financial conditions, attention has shifted to the latest round of earnings, which has generally exceeded expectations. Texas Instruments (TXN), Illinois Tool (ITW), Coach (COH), US Steel (X), UPS (UPS), and Deutsche Bank (DB) are among the more notable names that posted better-than-expected bottom lines. Netflix (NFLX) also posted an upside earnings surprise, but its downside guidance has been the point of focus among analysts and investors. The stock's subsequent downgrade at many firms has exacerbated the stock's weakness, taking it about 35% lower this morning. One of the few widely held names to come short of the consensus earnings estimate, 3M (MMM) is down about 6% ahead of the open. Coming at 9:00 AM ET is the latest S&P/Case-Shiller Home Price Index. At 10:00 AM ET the Conference Board's latest Consumer Confidence Index will be posted. The only other item on today's calendar is an auction of 2-year Notes at 1:00 PM ET.

06:51 am : [BRIEFING.COM] S&P futures vs fair value: +3.90. Nasdaq futures vs fair value: +4.50.

06:51 am : Nikkei...8762.31...-81.70...-0.90%. Hang Seng...18968.20...+196.40...+1.10%.

06:51 am : FTSE...5560.86...+12.80...+0.20%. DAX...6107.92...+52.70...+0.90%.

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
Business Hours: 8am - 5pm est (Mon - Fri)
Skype Messenger: kebec2002
questions@thestrategylab.com
Go Back To TheStrategyLab.com Homepage


Top
 Profile  
 
Display posts from previous:  Sort by  
Post new topic Reply to topic Bookmark and Share  [ 1 post ] 

All times are UTC - 5 hours


Who is online

Users browsing this forum: No registered users and 1 guest


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to:  
cron
Powered by phpBB © 2000, 2002, 2005, 2007 phpBB Group
Translated by Xaphos © 2007, 2008, 2009 phpBB.fr