TheStrategyLab.com Price Action Trading 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. Hashtags: #wrbanalysis #wrbzone #wrbhiddengap #priceaction #trading
It is currently Thu Mar 28, 2024 1:01 pm

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: December 27th Tuesday 2011 Emini TF ($TF_F) No Trades
PostPosted: Wed Dec 28, 2011 11:51 pm 
Offline
Site Admin

Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
Quote:
No trades today for me due to still celebrating the Xmas Holiday with the family.

U.S. Stock Market Wrap

Dec. 27 (Bloomberg) -- Bloomberg's Jane King reports on the performance of the U.S. equity market today. U.S. stocks were little changed, following the longest rally since September, as a better-than-estimated consumer confidence report overshadowed a decline in home prices and concern about Europe's debt crisis.

Stocks End Mostly Flat Amid Mixed Economic Reports

Attachment:
chart_ws_index_dow_20111227161015.top[1].png
chart_ws_index_dow_20111227161015.top[1].png [ 18.86 KiB | Viewed 311 times ]

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

NEW YORK (CNNMoney) -- U.S. stocks ended a listless session little changed Tuesday as investors weighed reports on consumer confidence and home prices.

The Dow Jones industrial average (INDU) eased 3 points, or less than 0.1%, to end at 12,291. The S&P 500 (SPX) added less than 1 point to 1,265. The Nasdaq (COMP) gained 6 points, or 0.2%, to 2,625.

Trading volumes were well below average, with many market participants taking time off this week for the holidays. Stock markets in the United States and Europe were closed Monday for the Christmas holiday.

Stocks opened lower after a report said home prices fell 1.2% in October compared with September. But the market turned higher following a stronger-than-expected report on consumer confidence.

"Consumers are definitely showing a ray of hope here," said Peter Cardillo, chief market economist at Rockwell Global Capital.

U.S. stocks have been supported recently by signs of improvement in the economy, including declines in weekly claims for unemployment benefits and an uptick in new home construction.

* 5 Worst Market Calls of 2011

But investors say the market remains vulnerable as the debt crisis in Europe continues to threaten the outlook for the global economy and financial markets.

While many investors have already closed their books for the year, the next few trading days could determine whether the major indexes end 2011 with gains or losses.

On Friday, investors pushed the S&P 500 back into positive territory for 2011 and the Dow up 6% for the year.

"I think we've got a decent chance of ending the year in positive territory, if not close to it," on the S&P 500, said Bruce McCain, chief investment strategist at Key Private Bank.

* Video - Hot 2012 stocks from Greece and Italy

Still, the bigger question is whether the stock market can continue moving higher in 2012 as economies in Europe and Asia appear to be slowing down, he added.

"The trends developing overseas are negative enough that it will be hard for the U.S. economy to entirely avoid a slow down in the global economy," said McCain.

Meanwhile, oil prices jumped 1.5% after a top Iranian official warned that the nation could block the Strait of Hormuz, a key transit point for oil exports from the Middle East.

The warning, from Iranian vice president Mohammad Reza Rahimi, came as the United States and the European Union have been ratcheting up sanctions on Iran's oil industry in response to the nation's nuclear program.

Companies: Sears Holdings (SHLD, Fortune 500) on Tuesday reported a sharp drop in holiday sales compared to a year ago, and said the results will force it to close 100 to 120 Sears and Kmart stores. Shares plunged 27%.

On Monday, Sony (SNE) said it would end its joint venture in liquid crystal display panels with Samsung Electronics.

* Are you a markets whiz?

World markets: European stocks closed mixed. The DAX (DAX) in Germany added 0.1% and France's CAC 40 (CAC40) ended flat. London's market remained closed.

Asian markets ended mixed. The Shanghai Composite (SHCOMP) fell 1.1% and Japan's Nikkei (N225) fell 0.5%. Hong Kong's market was closed.

Currencies and commodities: The dollar lost strength against the euro, the British pound and the Japanese yen.

Gold futures for February delivery lost $10.90 to $1,595.10 an ounce.

Bonds: The price on the benchmark 10-year U.S. Treasury edged higher, with the yield easing to 2.01% from 2.03% late Friday.

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
intradaystrategies@yahoo.com
questions@thestrategylab.com
Go Back To TheStrategyLab.com Homepage


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

All times are UTC - 5 hours [ DST ]


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