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 Post subject: April 5th Thursday 2012 Emini TF ($TF_F) points +8.30
PostPosted: Thu Apr 05, 2012 11:24 pm 
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Joined: Sat Jan 10, 2009 2:06 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 performance verification

Price Action Trade Performance for Today: +8.30 points or $830 dollars in the Russell 2000 Emini TF ($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=103&t=1187.

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=151&t=1432

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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.

Stocks End Mixed As Euro Debt Fears Return

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

NEW YORK (CNNMoney) -- U.S. stocks closed mixed Thursday, with the broader market falling for a third day, amid renewed worries about the debt crisis in Europe.

The Dow Jones industrial average (INDU) slid 12 points, or 0.4%, to end at 13,060. The S&P 500 (SPX) eased 1 point, or 0.1%, to 1,398. The Nasdaq (COMP) rose 13 points, or 0.4%, to 3,080.

Traders said volumes were low Thursday with many market participants absent ahead of the holiday. U.S. markets will be closed Friday in observance of Good Friday, and bond markets will close early.

The Dow and S&P 500 both fell for a third day, ending the four day week lower. Despite modest gains on Thursday, the Nasdaq also ended the week down. All three indexes suffered the largest weekly decline of 2012.

Stocks opened lower Thursday as investors continued to digest Wednesday's lackluster auction of Spanish government bonds. The yield on 10-year Spanish bonds jumped to 5.8% Thursday amid worries about the government's budget deficit.

"Credit concerns are flaring given the rise in Spanish bond yields," said Nick Kalivas, market strategist at Hadrian Partners. "It feels like the sovereign debt crisis is surfacing again."

In addition, investors have been sidelined this week by concerns the Federal Reserve may not launch a third round of quantitative easing when the current program, known as Operation Twist, ends in June.

"Traders may soon be forced to operate without a safety net for the first time since the 2008 collapse," said Karl Schamotta, senior market strategist Western Union Business Solutions. "The implications will be profound."

Meanwhile, the U.S. job market has been in focus this week ahead of Friday's report on hiring and unemployment from the Labor Department. Two reports released Thursday pointed to continued improvement in the labor market.

Stocks fell Wednesday after minutes from the Fed's latest policy meeting dashed hopes for additional stimulus from the central bank.

* Sell in April and hide under the table?

Meanwhile, demand for U.S. Treasuries rebounded Thursday after prices fell sharply earlier in the week, said Guy LeBas, chief fixed-income analyst at Janney Capital Markets. But the gains came on low volume ahead of Friday's holiday.

"The combination of the impending Good Friday holiday, prevalence of school spring breaks this week, and the start of the Masters Golf tournament Wednesday afternoon all conspired to keep volumes low," LeBas said.

Economy: Initial jobless claims for the week ended March 31 totaled 357,000, the government reported before Thursday's opening bell, compared with analyst expectations of 355,000.

Outplacement firm Challenger, Gray & Christmas said planned job cuts declined to roughly 38,000 in March, the lowest since May of last year.

* Video - More taxes from...everyone: Johnson

On Friday, the Labor Department will release the latest update on job growth and the unemployment rate.

Economists surveyed by CNNMoney expect that report to show employers added 200,000 jobs in March and the unemployment rate fell to 8.2%. In February, the economy added 227,000 jobs.

World markets: European stocks ended mixed. Britain's FTSE 100 (UKX) added 0.3% and France's CAC 40 (CAC40) rose 0.2%, but the DAX (DAX) in Germany lost 0.1%.

In a widely expected move, the Bank of England's monetary policy committee voted to hold interest rates at 0.5% and maintain the size of its 325 billion pound asset-purchasing program.

Meanwhile, the International Monetary Fund said Portugal has made "good progress" on its economic reform program and approved the disbursement of €5.2 billion in bailout funds.

Asian markets ended mixed. Japan's Nikkei (N225) slid 0.5% and Hong Kong's Hang Seng (HSI) fell 1%, while the Shanghai Composite (SHCOMP) rose 1.7%.
Wall Street needs a Republican - Survey

Companies: Shares of wine company Constellation Brands (STZ) fell after the company reported a drop in revenue and weak guidance for the upcoming fiscal year.

Pier 1 Imports (PIR) and Carmax (KMX, Fortune 500) reported earnings and revenue roughly in line with analyst expectations.

Macy's (M, Fortune 500) shares rose after the company reported that its same-store sales for the month of March had increased 7%. Fellow retailer Bed Bath & Beyond (BBBY, Fortune 500) gained after announcing a 7% increase in quarterly same-store sales.

Clothing sellers Gap Inc (GPS, Fortune 500) and TJX Companies Inc (TJX, Fortune 500) were up on strong same-store sales.

Costco (COST, Fortune 500)'s March same-store sales in the U.S. increased by 6%. Limited (LTD, Fortune 500) said March same-store sales increased 8%.
Obama: How to get to 6% unemployment

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

Oil for May delivery rose $1.84 to end the day at $103.31 a barrel.

Gold futures for April delivery rose $16.20 to settle at $1,628.50 an ounce.

Bonds: The price on the benchmark 10-year U.S. Treasury rose, pushing the yield down to 2.19% from 2.23% late Wednesday.

Image

Market Update

4:30 pm : Coming off of the strongest quarterly performance since 2008 and the best first quarter since 1998, stocks scored strong gains on Monday, but things weakened from there.

A better-than-expected ISM Manufacturing Index helped stimulate buying interest at the beginning of the week. The effort gave the broad market a new multi-year closing high.

Sentiment soured on Tuesday as participants responded to some surprisingly hawkish verbiage contained in the minutes from the most recent FOMC meeting. Although the idea that the Fed’s guidance will be conditional on economic developments shouldn’t be surprising, many regarded that view as anti-quantitative easing rhetoric. Selling dropped the stock market to a 1% loss before it began to rebound.

Data on Tuesday was limited to a relatively in-line increase in factory orders of 1.3%.

Selling extended into trade on Wednesday, forcing the S&P 500 to a 1.0% loss for only the second time in 2012. Lingering uncertainty about monetary policy following the FOMC minutes played a part in the downturn, as did renewed concerns about sovereign debt. The latter theme was made clear by the increase in yields on Spain’s debt after the country’s latest debt auction drew underwhelming demand.

Domestic data didn’t do anything to stem losses. The ISM Services Index, which came in at 56.0, declined more than what had been generally expected to follow the 57.3 that had been printed in the prior month.

The ADP Employment Change indicated that private payrolls increased by 209,000 during March, but that was slightly less than the increase of 217,000 that many economists had expected. The report is usually regarded as a preview of the official monthly payrolls report.

Action on Thursday was listless and lackluster. It left the S&P 500 to suffer its third straight loss, although the move lower was only slight. Still, with the U.S. equity markets closed on Friday for holiday observance the string of down days resulted in a 0.7% weekly loss. That’s only the third weekly loss for the stock market in 14 weeks of trade.

In the backdrop was another rise, albeit a modest one, in yields of Europe’s sovereign debt. Trade was mostly cautious as market participants positioned their portfolios for the official monthly payrolls report that will be released on Friday. The Briefing.com consensus calls for an increase of 200,000 to nonfarm payrolls.
The latest weekly initial jobless claims tally was shrugged off. At 357,000 it was on par with what had been broadly forecasted.

Tech, the largest sector by market weight, traded with a solid gain for the better part of the day, but the broader market was reluctant to follow its lead. Tech’s strength was more distinguishable in the Nasdaq, which outperformed its counterparts for the duration of the day.

Consumer Discretionary stocks outperformed for almost the entire session and booked a 0.7% gain, helped by a raft of retailers that reported some impressive same-store sales results. A better-than-expected quarterly report from Bed Bath & Beyond (BBBY 71.85, +5.62) helped shares of the home furnishing outfit bound to a new record high.

Materials stocks ran up to an early gain on the order of 1% before rolling over. The sector settled the session with a 0.6% loss. Energy stocks also failed to hold early gains; they suffered a 0.5% loss.

Despite the downturn among natural resource plays, most commodity futures prices traded higher so that the CRB Index booked a 0.5% gain. The bounce by commodities came after they had suffered steep losses during the course of the two previous days, including a near 2% drop for the CRB that stands as its worst single-session slide of 2012. Those losses were largely driven by the tone of comments included in the FOMC minutes.

The FOMC minutes were a positive catalyst for the dollar this week. With a 0.4% gain on Thursday the greenback enters Friday with a week-to-date gain of 1.3%. Currency markets will be open on Friday even though U.S. equity markets will be closed.

Most of the dollar’s advance this week came against the euro, which enters Friday at a three-week low of $1.306, down 2.0% week-to-date. Earlier this week the European Central Bank opted to keep its target interest rate at 1.00%, while the Bank of England announced on Thursday that it will keep its target rate at 0.5% and leave its asset purchase plan at 325 billion pounds.

As an aside, the United Kingdom reported disappointing Manufacturing and Industrial Production data on Thursday. That comes after it had posted its best PMI Construction number since 2010 earlier in the week. It also reported an upwardly revised PMI Services reading, as did Germany and France.

Recent PMI data from China proved pleasing, but in focus will be the country’s first quarter GDP figure due next week. DJ30 -14.61 NASDAQ +12.41 NQ100 +0.6% R2K -0.3% SP400 -0.4% SP500 -0.88 NASDAQ Adv/Vol/Dec 1172/1.54 bln/1318 NYSE Adv/Vol/Dec 1282/719 mln/1695

3:30 pm : May crude oil began pit trade near the unchanged level, but advanced as trade progressed. Strength came in contrast to its previous session when crude took the week’s largest losses after seeing pressure following inventory data that showed a greater-than-expected build of 9.0 mln barrels. Earlier in the week, the energy component also saw losses after a hawkish tone to FOMC minutes fueled selling. Crude settled today’s floor session with a 1.7% gain at $103.29 per barrel, up 0.2% for the week.

Natural gas sold-off in response to inventory data that showed a build of 42 bcf when a build of 30 bcf was expected. It touched lows of $2.08 per MMBtu before settling its floor session with a loss of 2.3% at $2.09 MMBtu. Overall, natural gas closed 1.9% below the previous week’s closing price.

Precious metals managed to do well after taking sharp losses in the prior session due to FOMC minutes. Strikingly, their rebound came despite strength in the dollar. Both June gold and May silver trended upward during pit trade, reaching session highs of $1634.00 per ounce and $31.81 per ounce, respectively. Gold settled floor trade at $1629.90 per ounce, 2.3% below last week’s close, and silver settled at $31.71 per ounce, 2.3% lower than Friday’s close. DJ30 -22.29 NASDAQ +11.45 SP500 -1.12 NASDAQ Adv/Vol/Dec 1065/1.21 bln/1375 NYSE Adv/Vol/Dec 1115/455 mln/1835

3:00 pm : Only an hour remains before trade will end for the week -- U.S. equity markets will remain closed tomorrow in observance of Good Friday. With the stock market slogging along in lackluster fashion narrowly below the neutral line it looks like the S&P 500 is all but assured a weekly loss of almost 1%. While that would go down as the stock market's worst weekly performance in 16 weeks, it's actually only the fifth weekly loss in that time.DJ30 -29.25 NASDAQ +9.94 SP500 -1.86 NASDAQ Adv/Vol/Dec 1150/1.12 bln/1290 NYSE Adv/Vol/Dec 1100/420 mln/1830

2:30 pm : The broad market has stabilized since slipping in recent trade. However, Materials stocks and Energy stocks continue to wrestle with selling pressure. Materials stocks were quick to run ahead to a gain of roughly 1% this morning, but the sector has since been on a steady decline that has left it to trade with a 0.6% loss. It currently sits at a session low. Energy stocks are also down 0.6% and at a session low. They weren't quite as strong as Materials stocks in the early going, but they had sported a solid gain.DJ30 -33.94 NASDAQ +8.85 SP500 -2.25 NASDAQ Adv/Vol/Dec 1105/1.04 bln/1315 NYSE Adv/Vol/Dec 1095/380 mln/1850

2:00 pm : A recent flurry of selling undercut the major equity averages. While that has left the Dow and S&P 500 to trade with modest losses, the Nasdaq is still holding on to a modest gain.

There is no clear catalyst or headline to account for the action, but it appears to be limited to stocks since the dollar continues to trade sideways with a 0.4% gain and steady strength among commodities has the CRB Index holding on to a 0.4% gain. Meanwhile, Treasuries have maintained modest gains of their own. DJ30 -49.12 NASDAQ +6.27 SP500 -4.06 NASDAQ Adv/Vol/Dec 1225/940 mln/1180 NYSE Adv/Vol/Dec 1225/340 mln/1700

1:30 pm : The stock market is drifting along narrowly beneath the neutral line. Meanwhile, the dollar is holding steady to a solid 0.4% gain over a collection of competing currencies. This week the dollar has advanced roughly 1.4% against that basket. That makes for the greenback's best weekly performance of 2012. The key, though, will be if the dollar can maintain its strength into tomorrow's trade. Note that currency markets will be open on Friday, but the U.S. stock market will be closed for holiday observance.DJ30 -22.31 NASDAQ +11.65 SP500 -1.27 NASDAQ Adv/Vol/Dec 1240/875 mln/1145 NYSE Adv/Vol/Dec 1210/315 mln/1675

1:00 pm : The Nasdaq has worked its way up to a solid gain with help from Tech stocks, but the broad market has been muddling along near the neutral line for the past couple of hours. The generally lackluster action comes amid a looming payrolls report.

Stocks opened the session on a soft note, resulting in modest losses for the major equity averages. The cautionary tone came amid lingering concerns about sovereign debt in Europe and uncertainty related to the always-pivotal monthly payrolls report, which is due tomorrow. However, U.S. equity markets will be closed on Friday for holiday observance.

With the monthly payrolls report on the horizon the latest weekly initial jobless claims tally hardly caused a stir among traders. Then again, there weren't any real surprises to the report. It showed that a total of 357,000 initial jobless claims were filed last week. That's on par with the 355,000 claims that had been broadly expected among economists polled by Briefing.com.

The latest round of same-store sales reports proved impressive overall, but that hasn't done much for the broad market. Nonetheless, retailers have helped lift the Consumer Discretionary sector to a 0.7% gain. Bed Bath & Beyond (BBBY 72.45, +6.22) has been a leader in the group; shares of the home furnishing outfit have bounded to a new record high on the back of a better-than-expected quarterly report.

Earlier this morning Materials stocks had run ahead of the rest with help from firmer commodity prices, but the sector has since descended to a 0.3% gain. Strikingly, most commodities continue to trade with renewed strength, such that the CRB Index is up 0.4%.

Tech stocks, now up 0.4%, have had a more positive impact on the Nasdaq than either the S&P 500 or the Dow. The Tech-rich Nasdaq's gain comes after it lagged both its counterparts in the prior session.

With the broad market unable to put together a gain, it is in jeopardy of suffering its third straight down day. The S&P 500 is on pace for a weekly loss of almost 1%, which would mark only its third weekly decline in 14 weeks of trade. DJ30 -16.73 NASDAQ +11.03 SP500 -1.13 NASDAQ Adv/Vol/Dec 1265/810 mln/1110 NYSE Adv/Vol/Dec 1255/290 mln/1610

12:30 pm : Crude oil prices have extended their climb. The energy component now trades with a gain of almost 1.4% at $102.85 per barrel. Prices were up to almost $103 per barrel only minutes ago.

Despite the rise in oil prices, Energy stocks have been unable to sustain gains. The sector had fought off some modest selling pressure to put together a solid gain this morning, but it has since drifted back to the flat line. Oil and gas drillers, which were the sector's leaders this morning, are now muddling along in mixed fashion. DJ30 -10.03 NASDAQ +13.05 SP500 -0.13 NASDAQ Adv/Vol/Dec 1260/730 mln/1075 NYSE Adv/Vol/Dec 1315/265 mln/1525

12:00 pm : The Nasdaq has managed to move up to a new session high, but both the Dow and S&P 500 remain mired at the neutral line.

The Nasdaq's strength comes as Tech stocks trade higher. The largest sector by market weight is now up 0.4%. Still, that's only half of what the Consumer Discretionary sector has achieved. Consumer Discretionary plays have been outperforming since the open.

Materials stocks, which were the top performers in the early going, are now barely positive. The sector had been up roughly 1%, but has surrendered almost all of that gain. DJ30 -0.87 NASDAQ +13.18 SP500 +0.58 NASDAQ Adv/Vol/Dec 1175/655 mln/1130 NYSE Adv/Vol/Dec 1305/235 mln/1535

11:30 am : The stock market only recently poked into positive territory, but it has been unable to turn the move into a meaningful gain.

While the broad market becomes mired near the neutral line, shares of Bed Bath & Beyond (BBBY 71.86, +5.63) have bounded to a record high on the back of better-than-expected sales and earnings. Pier 1 Imports (PIR 18.38, +0.12) is up with a more subtle gain, which comes despite downside guidance. DJ30 +2.99 NASDAQ +10.12 SP500 +1.21 NASDAQ Adv/Vol/Dec 1225/550 mln/1015 NYSE Adv/Vol/Dec 1525/200 mln/1275

11:00 am : Stocks have poked into positive territory for the first time today. Although its gain remains modest, the Nasdaq is out in front of its counterparts after it had trailed them in the prior session.

Tech heavyweights Microsoft (MSFT 31.50, +0.29) and Apple (AAPL 627.95, +3.64) are providing leadership to the Nasdaq. Biotech plays are also helping, but many semiconductor issues have been slow to contribute. DJ30 +1.44 NASDAQ +7.36 SP500 +1.65 NASDAQ Adv/Vol/Dec 1055/425 mln/1140 NYSE Adv/Vol/Dec 1425/160 mln/1330

10:30 am : The CRB Index is up a tepid 0.1% after it fell nearly 2% in the prior session for its worst one-day drop of 2012.

Natural gas prices were up about 0.2% in the few minutes that preceded the latest weekly inventory report, which showed a build of 42 bcf when a build of 30 bcf had been broadly expected. Prices in the constant futures contract now trade at $2.10 per MMBtu for a loss of 2.2%.

Meanwhile, crude oil futures prices have pushed up to $102.05 per barrel for a 0.6% gain. That's only slightly below their session high.

Precious metals are performing well after slumping in the prior session. Specifically, gold prices are up 1.0% to $1630.50 per ounce following their 3.5% drop yesterday. Silver prices sank 6.5% yesterday, but they're up 1.8% to $31.61 per ounce today. DJ30 -21.42 NASDAQ -1.09 SP500 -1.03 NASDAQ Adv/Vol/Dec 910/290 mln/1210 NYSE Adv/Vol/Dec 1305/120 mln/1390

10:00 am : Stocks have been trying to trim their losses after slipping at the open of the session. However, the loss of momentum has left the major equity averages in the red with narrow losses.

Materials stocks continue to climb, though. The sector has run ahead to a 1.0% gain, which is more than double the gains displayed by the next best performing sectors -- Energy and Consumer Discretionary sectors are both up 0.4%. Among Materials plays, diversified chemicals issues, agricultural chemicals, and steel stocks are the strongest performers. DJ30 -22.85 NASDAQ -3.09 SP500 -1.75 NASDAQ Adv/Vol/Dec 880/160 mln/1105 NYSE Adv/Vol/Dec 1170/70 mln/1470

09:45 am : Stocks are down in early trade. Although the drop isn't as dramatic as what was experienced in the prior session, weakness is widespread once again. Of the 10 major sectors, only the Materials sector and the Consumer Discretionary sector have managed to muster advances.

The 0.4% gain by the Materials sector has been helped by higher commodity prices, which are attempting to recover after their sell-off in the prior session. Still, buying interest among commodities remains relatively light, resulting in a gain of only 0.1% for the CRB Index.

As for the Consumer Discretionary sector, it is up 0.2% with help from retailers following the latest round of same-store sales results. The SPDR S&P Retail ETF (XRT 61.47, +0.22) was actually under modest pressure ahead of the open, but it has pushed higher in the early going. DJ30 -27.85 NASDAQ -0.95 SP500 -2.21 NASDAQ Adv/Vol/Dec NA/NA/NA NYSE Adv/Vol/Dec NA/NA/NA

09:15 am : S&P futures vs fair value: -5.50. Nasdaq futures vs fair value: -5.50. Stock futures are up from the depths set early this morning, but the cash market is still expected to open with a loss. The negative tone threatens to give the S&P 500 its third straight down day. Losses in the two previous sessions already have the broad market on pace for a weekly loss of almost 1%. Up to this point it has only suffered two weekly losses in the past 13 weeks of trade.

Renewed worries about the sovereign debt of Spain -- and other countries in the eurozone periphery for that matter -- has been a popular reason for the recent weakness. Some disappointing manufacturing and industrial production data released from the United Kingdom earlier today hasn't helped the continent's macro picture. However, China did report a pleasing PMI Services reading.

Another underlying theme for the session is the preparations traders are taking ahead of the official monthly payrolls report, which will be released tomorrow even though U.S. equity markets will be closed for holiday observance. Given the importance of that report, few market participants have put weight on the in-line weekly initial jobless claims tally that was posted this morning.

09:05 am : S&P futures vs fair value: -5.30. Nasdaq futures vs fair value: -5.00. Aggressive selling against commodities in the prior session dropped the CRB Index for a near 2% loss. It was the CRB's worst tumble of 2012. Action has steadied this morning, though.

Crude oil prices are up a narrow 0.1% to $101.57 per barrel in early pit trade, while natural gas prices trade with a narrow loss of 0.1% at $2.14 per MMBtu ahead of weekly inventory numbers at 10:30 AM ET.

Precious metals slumped in the prior session, but renewed buying interest has helped them rebound. Gold was last quoted with a 0.7% gain at $1625.80 per ounce. Silver is up an even more impressive 1.2% at $31.42 per ounce. The gains by gold and silver come in the face of a firmer dollar, which is currently up another 0.4% against a collection of competing currencies.

08:35 am : S&P futures vs fair value: -5.50. Nasdaq futures vs fair value: -5.50. Stock futures have managed to trim their losses in recent trade, but they still trail fair value.

There weren't any real surprises to the latest weekly initial jobless claims count. Initial jobless claims for the week ended March 31 totaled 357,000, which is on par with the 355,000 claims that had been expected, on average, among economists polled by Briefing.com. Also, it's not too different than the prior week's upwardly revised tally of 363,000. As an aside, continuing claims declined to about 3.34 million from roughly 3.35 million.

08:05 am : S&P futures vs fair value: -6.80. Nasdaq futures vs fair value: -10.00. The stock market suffered its second 1% loss of the year yesterday amid renewed worries about sovereign debt. The theme remains in play today as the major bourses of Europe slide lower and domestic stock futures follow. The euro is also down again today; it was last quoted with a 0.5% loss against the greenback. Recent weakness has the euro on pace for a weekly loss of 2.0%.

A bundle of monthly same-store sales reports from a raft of retailers is expected today. Only a handful of announcements have been made, but thus far results have been relatively mixed. The SPDR S&P Retail ETF (XRT 61.06, -0.19) is down modestly ahead of the open.

The bottom of the hour brings the latest weekly initial jobless claims tally. No other economic report is scheduled to follow it.

As a reminder, the U.S. stock market will be closed tomorrow in observance of Good Friday.

06:18 am : [BRIEFING.COM] S&P futures vs fair value: -8.50. Nasdaq futures vs fair value: -15.00.

06:18 am : Nikkei...9767.61...-52.40...-0.50%. Hang Seng...20593.00...-198.00...-1.00%.

06:18 am : FTSE...5671.36...-32.40...-0.60%. DAX...6711.88...-71.40...-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

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