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 9:52 am

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: March 13th Tuesday 2012 Emini TF ($TF_F) points +11.00
PostPosted: Tue Mar 13, 2012 10:57 pm 
Offline
Site Admin

Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
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:
031312-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit-1100.png
031312-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit-1100.png [ 75.95 KiB | Viewed 258 times ]

click on the above image to view today's performance verification

Price Action Trade Performance for Today: +11.00 points or $1100 dollars in the Russell 2000 Emini TF ($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. You can read today's #FuturesTrades trading chat room logs for 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 in comparison to what's shown in the above image...all archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=102&t=1164.

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 price action 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=119&t=718.

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 price action 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=150&t=1403

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

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. Stock Market Wrap

March 13 (Bloomberg) -- Bloomberg's Pimm Fox and Deborah Kostroun report on the performance of the U.S. equity market today. U.S. stocks advanced, sending the Dow Jones Industrial Average to the highest level since 2007, amid data showing that retail sales increased by the most in five months and as JPMorgan Chase & Co. boosted its dividend.

Stocks Rally Into The Close, Dow Gains 218 Points

Attachment:
031312-Key-Price-Action-Markets.png
031312-Key-Price-Action-Markets.png [ 511.41 KiB | Viewed 263 times ]

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

NEW YORK (CNNMoney) -- U.S. stocks rallied late Tuesday to close sharply higher on news that most of the nation's largest banks have passed the government's latest test of their financial health.

The Dow Jones Industrial average (INDU) rose 218 points, or 1.8%, to close at 13,177. It was the highest close since Dec. 31, 2007, when Dow closed at 13,264.82.

The S&P 500 (SPX) added 25 points, or 1.8%, to 1,396.

The Nasdaq (COMP) jumped 56 points, or 1.9%, to 3,040. It was the highest closing level since Nov. 15, 2000.

Stocks surged in the final hour of trade after JPMorgan Chase (JPM, Fortune 500) said the Federal Reserve had approved its capital plans for the year.

JPMorgan made the disclosure in announcing plans to raise its dividend payment to 30 cents a share and buy back $15 billion in stock.

The Fed subsequently released the results of its so-called bank stress tests late Tuesday, two days ahead of schedule. The tests are designed to assess banks' ability to withstand a significant financial shock or economic downturn.

* March Stock Mania: Cast your vote now!

The Fed said 15 of the 19 banks it tested had sufficient capital levels. The banks that did not meet the minimum requirements were Citigroup (C, Fortune 500), SunTrust (STI, Fortune 500) and MetLife (MET, Fortune 500) and privately-held Ally.

Earlier, stocks were supported by a solid report on retail sales, which raised hopes that higher gas prices will not dent consumer spending. Investors also welcomed a more upbeat assessment of the economy from the Federal Reserve.

The central bank said the job market has improved, consumer spending has increased and inflation is under control despite higher oil and gas prices.

But the Fed warned that the housing market remains "depressed" and that the economy remains vulnerable to "strains" in global financial markets.

As expected, the Fed's Open Market Committee voted to keep interest rates near zero.

"It's clear to everyone that the Fed is on hold for foreseeable future," said Doug Roberts, chief market strategist for Channel Capital Research and author of Follow the Fed to Investment Success.

Roberts said stocks are now "in the sweet spot" between the Fed's accommodative policies and an economy that's on the mend.

"This is a liquidity driven rally," he said. "As long as the Fed continues to print money, the market can continue to go higher."

Stocks have rallied this year on steadily improving U.S. economic data and hopes for a lasting solution to Europe's debt crisis. But trading volumes have been low as nervous investors pulled money out of retail investment funds.

"There has been a lot of skepticism so far, but I think people are starting to believe in the rally," said Bernard Kavanagh, vice president of portfolio management for St. Louis-based broker Stifel Nicolaus.

Kavanagh said stocks will probably keep climbing as economic conditions improve and corporate profits continue rising, albeit at a slower pace. In addition, he said the market remains relatively cheap, with stock valuations below their long-term averages.

U.S. stocks closed mixed on Monday, as investors hesitated to place any big bets ahead of the Fed's meeting.

Bonds: The Fed also voted to leave unchanged its ongoing stimulus programs, including an operation to shift $400 billion from short-term to long-term bonds -- known as Operation Twist.

While the Fed signaled that it remains prepared to support the economy if conditions deteriorate, analysts say the central bank is not likely to launch a third round of bond buying in the near term.

"Given the strength of the incoming economic data, including the upward revisions to retail sales and inventories reported today, it would be hard for the Fed to justify more bond buying now," said Paul Ashworth chief U.S. economist at Capital Economics, in a note to clients.

The price on the benchmark 10-year U.S. Treasury dropped, pushing the yield up to 2.11% from 2.03% late Monday.

Economy: The government reported Tuesday morning that retail sales rose 1.1% in February, boosted by a surge in gasoline prices. That was slightly above the 1% rise anticipated by economists.

A separate report showed business inventories increased 0.7% in January, compared with a forecasted rise of 0.6%.

* Morningstar picks tomorrow's stars

Companies: Investors bought shares of companies that develop rare earth minerals after the United States, the European Union and Japan filed a trade case over China's export restrictions on the crucial raw materials used in many high-tech devices.

Shares of Molycorp (MCP) and Rare Earth Ltd. (REE) were both significantly higher.

Intel (INTC, Fortune 500) shares nudged higher after reports that the chipmaker is planning an Internet-based television service.

Shares of Urban Outfitters (URBN) sank after the retailer said profits fell 47% last year.

Yahoo (YHOO, Fortune 500) filed a lawsuit against Facebook late Monday, alleging that the social media giant infringed on 10 of its patents related to advertising, privacy, customization, messaging and social networking.

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

Oil for April delivery rose 37 cents to settle at $106.71 a barrel.

Gold futures for April delivery lost $5.60 to end at $1,694.20 an ounce.

World markets: Asian markets finished higher. The Shanghai Composite (SHCOMP) rose 0.9% and Japan's Nikkei (N225) ticked up 0.1%, while the Hang Seng (HSI) in Hong Kong added 1.0%.

The European Union signed off Tuesday on another Greek bailout package after the country successfully completed a debt swap. On Thursday, the International Monetary Fund is expected to back a €28 billion contribution over four years to the program. The rescue payment totals €130 billion.

The news helped bolster European stocks. Britain's FTSE 100 (UKX) gained 1%, France's CAC 40 (CAC40) jumped 1.2% and the DAX (DAX) in Germany rose 0.9%.

Image

Market Update

4:30 pm : The stock market staged an aggressive advance that resulted in its best single-session performance of 2012 and marked new multi-year highs. A positive tone permeated trade for the entire session, but buying didn't really ramp up until after the FOMC released its latest Policy Statement and financial giant JPMorgan Chase made an encouraging announcement.

To little surprise the FOMC opted to keep its fed funds target rate at 0.00% to 0.25% and maintained its outlook that low rates of resource utilization and subdued inflation are likely to warrant exceptionally low levels for the fed funds rate at least through late 2014. However, the idea that a steadily improving economy means that the Fed is less likely to offer additional monetary stimulus was met with some indecision, resulting in choppy trade for stocks. In contrast, the dollar pushed up to a nice gain against a collection of competing currencies while gold prices took a dive in electronic trade so that futures prices for the yellow metal were near $1670 per ounce.

Financials were steady leaders throughout the session, but the sector bounded to a gain of almost 4% after JPMorgan Chase (JPM 43.39, +2.85) announced that it has increased its quarterly dividend to $0.30 per share from $0.25 per share and also authorized $15 billion for repurchasing stocks. The announcement was taken as a sign of financial health ahead of results from the latest round of government stress tests, which will be released at 4:30 PM ET. Test results had been previously scheduled for release later this week.

The bullish bias to trade took the Volatility Index another leg lower. In fact, the euphemistically labeled Fear Gauge set a new multi-year low this morning.

With stocks looking so strong and volatility down, Treasuries encountered concerted selling. The action caused the yield on the benchmark 10-year Note to climb above 2.12% for a three-month high. Results from an auction of 10-year Notes failed to provide support. The offering drew a bid-to-cover ratio of 3.24, dollar demand of $68.0 billion, and an indirect bidder participation rate of 38.6%. For comparison, an average of the past six auctions results in a bid-to-cover ratio of 3.07, dollar demand of $67.2 billion, and an indirect bidder participation rate of 44.0%.

Retail sales results for February were released earlier today. They provided a positive backdrop to the action. Overall sales climbed by 1.1%, which is greater than the upwardly revised 0.6% increase booked in the prior month and narrowly better than the 1.0% increase that had been generally expected. Excluding autos, retail sales were up 0.9%, which bested the Briefing.com consensus call for a 0.6% increase, but it isn't quite as strong as the 1.1% increase experienced in the prior month.

Advancing Sectors: Financials +3.9%, Industrials +2.1%, Tech +2.0%, Materials +1.7%, Consumer Discretionary +1.5%, Health Care +1.4%, Energy +1.3%, Consumer Staples +0.6%, Telecom +0.6%, Utilities +0.2%
Declining Sectors: (None)DJ30 +217.97 NASDAQ +5622 NQ100 +1.9% R2K +2.1% SP400 +2.0% SP500 +24.87 NASDAQ Adv/Vol/Dec 1976/1.69 bln/569 NYSE Adv/Vol/Dec 2496/907 mln/569

3:30 pm : Oil prices surrendered an early gain to trade with a sizable loss before rebounding to book a 0.4% gain by closing pit trade at $106.71 per barrel. Natural gas was also able to buck selling pressure on its way to a 1.8% gain at $2.31 per MMBtu.

Gold prices were under considerable pressure this morning, but the yellow metal managed to pare its loss so that it ended the day down just 0.3% at $1694.40 per ounce. However, sellers have redoubled their efforts in electronic trade to take futures prices down to about $1670 per ounce because commentary in the latest FOMC Policy Statement seemed to provide fodder for the argument that further monetary stimulus is unlikely. Silver was able to reverse an early loss to eke out a 0.1% gain at $33.54 per ounce, but like gold it, too, has come under renewed pressure in electronic trade. Silver was recently quoted at $33.10 per ounce. DJ30 +187.88 NASDAQ +46.87 SP500 +21.79 NASDAQ Adv/Vol/Dec 1795/1.23 bln/730 NYSE Adv/Vol/Dec 2350/495 mln/675

3:00 pm : Stocks have chopped their way down to afternoon lows, but overall gains remain impressive in the wake of the latest FOMC Policy Statement, which didn't really contain any surprises. However, the dollar has been working its way higher, so that it now leads a collection of competing currencies by almost 0.5%.

The greenback's gain likely stems from the notion that the FOMC Statement reflects an improving economy, albeit at a moderate pace, and diminishing need for additional monetary stimulus.

Further, the dollar's advance amid the idea that the central bank will print less money has put pressure on gold, which has turned lower in electronic trade so that the yellow metal now sits at $1681.50 with a 1.1% loss. DJ30 +102.17 NASDAQ +29.37 SP500 +10.77 NASDAQ Adv/Vol/Dec 1655/1.05 bln/850 NYSE Adv/Vol/Dec 2195/410 mln/795

2:30 pm : Trade was choppy in the minutes that immediately followed the latest FOMC Policy Statement, which was released at 2:15 PM ET, but then a bout of buying helped take the broad market another leg higher so that the S&P 500 notched its best level of the day. Stocks have begun to ease back from that mark, though.

To no real surprise the FOMC opted to leave its fed funds target rate at 0.00% to 0.25%. Commentary noted that economic conditions, including low rates of resource utilization and a subdued outlook for inflation, are likely to warrant exceptionally low levels for the fed funds rate at least through late 2014. DJ30 +123.59 NASDAQ +33.20 SP500 +12.83 NASDAQ Adv/Vol/Dec 1665/945 mln/840 NYSE Adv/Vol/Dec 2230/365 mln/770

2:00 pm : The latest FOMC Policy statement is just minutes away. Stocks are starting to drift down from their daily highs ahead of its release. Meanwhile, Treasuries have made a modest tick higher, but the dollar is still only narrowly above the neutral line.DJ30 +107.05 NASDAQ +32.19 SP500 +11.98 NASDAQ Adv/Vol/Dec 1695/885 mln/770 NYSE Adv/Vol/Dec 2260/340 mln/735

1:30 pm : Results from an auction of 10-year Notes were released about 30 minutes ago. The offering drew a bid-to-cover ratio of 3.24, dollar demand of $68.0 billion, and an indirect bidder participation rate of 38.6%. For comparison, the prior auction drew a bid-to-cover of 3.05, dollar demand of $73.2 billion, and an indirect bidder rate of 38.9%, while an average of the past six auctions results in a bid-to-cover ratio of 3.07, dollar demand of $67.2 billion, and an indirect bidder participation rate of 44.0%. The 10-year Note remains at its session low in the wake of the results.DJ30 +114.51 NASDAQ +33.71 SP500 +13.03 NASDAQ Adv/Vol/Dec 1705/820 mln/745 NYSE Adv/Vol/Dec 2315/315 mln/675

1:00 pm : The S&P 500 is sporting an impressive gain as it sits at its best level since 2008 amid leadership from Financials and Tech. As a corollary, the Volatility Index is down markedly amid the broad market's bullish bias.

Stocks started the session with a solid gain, but flinched in the face of resistance. Steady strength among Financials and Tech issues helped the broad market regroup and begin a steady ascent higher. The effort has taken the stock market to its best level since June of 2008.

Strength in the Financial sector is broad, but diversified financial services plays and investment banks and brokerages are boasting the biggest gains. Tech has been helped along by semiconductor plays after they had lagged in the prior session. Apple (AAPL 563.20, +11.20) has also been a leader in the Tech sector; the stock set a new record high earlier today and continues to sport an enviable gain. Overall, though, the Tech sector is up 1.3%, while the Financial sector is up 1.4%.

The Volatility Index has extended its descent amid the stock market's climb. The euphemistically labeled Fear Gauge set a new multi-year low earlier this morning, but has since eased up from that mark, although it continues to contend with a near 4% loss.

With stocks looking strong and volatility down the dollar has steadily surrendered its gain. As such, the Dollar Index is now up only 0.1% for the day.

The dollar's decline has likely made it easier for oil to rebound after it rolled over in early pit trade. The energy component was quoted with a 0.8% gain at $107.15 per barrel.

Data today featured February retail sales, which increased by 1.1%. Sales less autos increased by 0.9%. Both were better than what had been widely predicted. Business inventories for January hardly generated any buzz among market participants. Inventories reportedly increased by 0.7%, which is slightly greater than the 0.6% increase that had been broadly expected. Still to come is the latest FOMC Policy Statement at 2:15 PM ET. DJ30 +115.83 NASDAQ +32.58 SP500 +12.75 NASDAQ Adv/Vol/Dec 1665/745 mln/765 NYSE Adv/Vol/Dec 2270/285 mln/705

12:30 pm : The stock market's ascent has evened out, enabling gains to consolidate.

Cyclical plays continue to perform the best as Financials and Tech both sport gains of 1.3%. Materials and Industrials are trading with gains of 1.1%. Meanwhile, defensive-oriented issues like Telecom, Consumer Staples, and Utilities are lagging. Telecom is up 0.2%, but Consumer Staples are flat and Utilties are off by 0.1%. DJ30 +109.40 NASDAQ +29.66 SP500 +11.92 NASDAQ Adv/Vol/Dec 1700/670 mln/710 NYSE Adv/Vol/Dec 2305/260 mln/655

12:00 pm : Stocks continue to climb steadily. The effort has the S&P 500 at its best level since 2008. Amid the bullish bias the Volatility Index, often euphemistically referred to as the Fear Gauge, has extended its descent so that it is down more than 5%. Earlier today it set a new multi-year low.

With stocks up and volatility down Treasuries have come under increased selling pressure, such that the yield on the benchmark 10-year Note is now up to nearly 2.10%, or its highest level since January. Results from an auction of $21 billion worth of 10-year Notes are due at 1:00 PM ET. DJ30 +109.05 NASDAQ +29.56 SP500 +11.85 NASDAQ Adv/Vol/Dec 1695/590 mln/695 NYSE Adv/Vol/Dec 2280/230 mln/645

11:30 am : Stocks continue to sport impressive gains, but the dollar has eased back in recent trade. Despite its downward drift, the greenback is still up 0.2% against a basket of major foreign currencies. That essentially offsets its prior session loss.

The dollar's decline has likely made it easier for oil to make its way back into positive territory. The energy component rolled over at the start of pit trade and then spent the next couple of hours wrestling with selling pressure. Most recently, though, oil was quoted with a 0.2% gain at $106.50 per barrel. DJ30 +91.05 NASDAQ +25.19 SP500 +10.26 NASDAQ Adv/Vol/Dec 1650/445 mln/700 NYSE Adv/Vol/Dec 2150/180 mln/740

11:00 am : After faltering in the face of resistance, stocks have regrouped to trade higher. The effort has placed the S&P 500 at its best intraday level since 2008.

Financials and Tech, arguably the two most influential sectors given their market weight and extensive role in the economy, continue to provide leadership. The sectors are now up 1.3% and 1.0%.

Financials are currently led by investment banking and brokerage plays along with diversified financial services issues. Tech is currently being helped along by semiconductor stocks, which have lifted the Philadelphia Semiconductor Index to a 1.6% gain. Apple (AAPL 559.45, +4.45) is also a standout in the pack -- it recently ran up to a new record high. DJ30 +83.86 NASDAQ +22.07 SP500 +9.23 NASDAQ Adv/Vol/Dec 1620/345 mln/680 NYSE Adv/Vol/Dec 2185/145 mln/690

10:45 am : Apr natural gas ($2.22 -0.05), Apr gold ($1691.40 -8.40) and May silver ($33.38 -0.03 -0.18) all sold off about 8:30am ET as the dollar index continued to inch higher. Apr crude oil ($106.24 -0.10) sold off about 15 minutes after that.

Natural gas lost about 3% as it sold off and fell as low as $2.21. Crude lost over $1/barrel and fell to a new session low of $105.67. Crude erased all of those morning losses a short while ago, but is ticking lower again. Nat gas has recovered only slightly and is now -2.0% at $2.22/MMBtu.

Gold fell below $1700 this morning, falling to $1683.70, while silver hit a new session as well. However, a few minutes ago, silver hit another new session low of $33.12, but quickly reversed and back back near $33.40. Currently, gold is -0.5% at $1690.80 and silver is -0.1% at $33.38/oz. May copper is up 3 cents to $3.87/lb.DJ30 +71.86 NASDAQ +21.58 SP500 +8.75 NASDAQ Adv/Vol/Dec 1626/354 mln/680 NYSE Adv/Vol/Dec 1975/150 mln/888

10:00 am : The S&P 500 recently tested its multi-year intraday high of 1378, but was unable to push past that point. Failure to overcome resistance has provided fodder for those inclined to sell. That said, the broad market measure is still up solidly.

Energy stocks have become a drag on trade. The sector has fallen to a 0.2% loss, making it the only major sector to trade with a loss this morning. The sector's downturn comes amid lower oil prices, which surrendered an early gain so that they now trade with a 0.6% loss at $105.75 per barrel.

Just released, business inventories for January increased by 0.7%, which is slightly greater than the 0.6% increase that had been expected, on average, among economists polled by Briefing.com. DJ30 +31.67 NASDAQ +15.94 SP500 +5.21 NASDAQ Adv/Vol/Dec 1685/77 mln/445 NYSE Adv/Vol/Dec 2220/55 mln/465

09:45 am : Stocks are up solidly in the early going. The advance has been led by Financials and Tech, both of which traded listlessly yesterday. Buying in the two sectors has them up 0.9% and 0.7%, respectively.

Utilities outperformed in the prior session, but the defensive-oriented sector has been sluggish this morning. As such, it remains mired narrowly above the neutral line. DJ30 +47.30 NASDAQ +21.62 SP500 +7.48 NASDAQ Adv/Vol/Dec NA/NA/NA NYSE Adv/Vol/Dec NA/NA/NA

09:15 am : S&P futures vs fair value: +6.50. Nasdaq futures vs fair value: +14.80. Stock futures have edged lower in recent trade, but their lead over fair value still suggests a firmly positive open for the cash market.

The dollar is also benefiting from buying interest, such that the Dollar Index is now sporting a 0.5% gain. Most of the greenback's gain has come against the euro, which is now down 0.7% to a near one-month low of $1.306.

For the second straight day there hasn't been much in the way of meaningful corporate news, but market participants did receive a dose of upbeat data, which indicated that overall monthly retail sales increased by 1.1% and sales less autos increased by 0.9% during February. Both were better than what had been widely predicted. Still on the docket are monthly business inventory data at 10:00 AM ET and the latest FOMC Policy Statement at 2:15 PM ET.

Between those announcements, results from an auction of 10-year Notes will be released at 1:00 PM ET. Prior to the auction the yield on the 10-year Note is narrowly above 2.05% so that it is flirting with its monthly high.

09:05 am : S&P futures vs fair value: +6.30. Nasdaq futures vs fair value: +14.50. Early pit trade has oil prices up 0.2% to $106.60 per barrel after a 1.0% loss in the prior session. However, natural gas has extended its downtrend by falling another 1.3% to $2.34 per MMBtu.

Precious metals also continue to come under pressure. Specifically, gold prices are down 0.9% to $1685 per ounce after they logged a 0.6% loss in the prior session. At $33.22 per ounce, silver is currently off by 0.6% following its 2.1% tumble in the prior session.

General weakness in the commodity complex has the CRB Index off by 0.2% in the early going.

08:35 am : S&P futures vs fair value: +9.30. Nasdaq futures vs fair value: +19.00. Stock futures continue to trade with solid gains following retail sales results for February. Retail sales climbed 1.1%, which is greater than the upwardly revised 0.6% increase booked in the prior month. It also narrowly exceeds the 1.0% increase that had been generally expected among economists polled by Briefing.com. Excluding autos, retail sales were up 0.9% in February. That bested the Briefing.com consensus call for a 0.6% increase. Prior month numbers were revised upward to reflect an impressive 1.1% increase.

08:05 am : S&P futures vs fair value: +8.50. Nasdaq futures vs fair value: +18.50. Stock futures are up nicely after the broad market started the week on a flat note. The bid comes amid strong gains in Europe and follow generally positive overnight action in Asia. The euro is under some pressure, though; it was last quoted with a 0.4% loss against the greenback.

News flow is currently slow, but monthly retail sales numbers will be released at the bottom of the hour. Monthly business inventory data follow at 10:00 AM ET. The afternoon is likely to be highlighted by the latest FOMC Policy Statement, which will be posted at 2:15 PM ET.

06:22 am : [BRIEFING.COM] S&P futures vs fair value: +9.60. Nasdaq futures vs fair value: +19.50.

06:22 am : Nikkei...9899.08...+9.20...+0.10%. Hang Seng...21339.70...+205.50...+1.00%.

06:22 am : FTSE...5940.91...+48.20...+0.80%. DAX...6977.33...+76.00...+1.10%.

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)
Image@ http://twitter.com/wrbtrader, http://stocktwits.com/wrbtrader and http://chart.ly/users/wrbtrader

http://www.thestrategylab.com
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  [ 1 post ] 

All times are UTC - 5 hours [ DST ]


Who is online

Users browsing this forum: No registered users and 2 guests


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