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 8:58 am

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: May 9th Wednesday 2012 Emini TF ($TF_F) points +27.70
PostPosted: Thu May 10, 2012 6:45 am 
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:
050912-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit-2770.png
050912-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit-2770.png [ 75.86 KiB | Viewed 276 times ]

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

Price Action Trade Performance for Today: +27.70 points or $2770 dollars in the Russell 2000 Emini TF ($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=104&t=1217.

To join our free chat room...log-in 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=152&t=1459

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

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.

Dow Posts 6-Day Losing Streak

Attachment:
050912-Key-Price-Action-Markets.png
050912-Key-Price-Action-Markets.png [ 535.65 KiB | Viewed 243 times ]

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

NEW YORK (CNNMoney) -- U.S. stocks bounced back somewhat from a sharp sell-off Wednesday, but all three major indexes closed in the red as investors continue to fret about Greece and Spain.

Stocks were down sharply at the open, with the Dow, Nasdaq and S&P losing more than 1% before clawing back. Wednesday marked the sixth straight day of losses for the Dow, in which time it has slipped 3.3%.

Traders said there was no single catalyst for the early afternoon rebound. Instead, investors started to sense that the market was oversold in the morning, but wariness over the fiscal and political health of Greece and Spain kept it in negative territory.

Investors have become increasingly concerned that Spain might need to inject public-sector money to save its banks. Yields on Spanish 10-year bonds crossed 6% for the first time in two weeks on Wednesday. Spain's stock market fell to its lowest level since 2003.

Meanwhile, Greece continues to weigh on investors' minds. Elections failed to yield a coalition government, which throws into question whether the nation will be able to meet the requirements needed to secure its next round of bailout funds.

* Europe: Lessons for the U.S.

Investors were forced to wrestle with conflicting reports over eurozone countries potentially delaying €5.2 billion in aid.

"We're handicapped by Europe in the U.S.," said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research. "Every day we seem to be getting more reason to realize that Europe's issues are far from being resolved."

With earnings seasons nearly wrapped up and no major economic reports on tap, investors have few reasons to turn away from Europe.
0:00 /1:55Sick of Spain and the other PIIGS? Too bad

The Dow Jones industrial average (INDU) closed down 97 points, or 0.8%, while the S&P 500 (SPX) shed 9 points, or 0.7%, and the Nasdaq (COMP) sank 12 points, or 0.4%.

On Tuesday U.S. stocks also managed to pare deep losses by the closing bell.

World markets: European stocks ended mixed after an early sell-off. Britain's FTSE 100 (UKX) closed down 0.4% and France's CAC 40 (CAC40) dropped 0.3%, while the DAX (DAX) in Germany closed 0.5% higher.

Asian markets ended lower. The Shanghai Composite (SHCOMP) dropped 1.6%, the Hang Seng (HSI) in Hong Kong slipped 0.7%, and Japan's Nikkei (N225) fell 1.5%.

* Occupy Bank of America. Hundreds protest.

Companies: Shares of GlaxoSmithKline (GSK) declined Wednesday, after the drugmaker said it is taking its previously announced unsolicited $13-a-share offer for Human Genome Sciences (HGSI) directly to shareholders in a hostile bid.

Shares of Green Mountain Coffee Roasters (GMCR) edged lower, after the company announced late Tuesday that founder and former CEO Robert Stiller had been stripped of his title as chairman for selling more than $125 million worth of Green Mountain stock earlier this week in a margin call.

Shares of AOL (AOL) popped after the web portal posted earnings of 22 cents a share, topping even the most bullish forecasts.

* Video - Disney bets big on Avengers and wins

Shares of Walt Disney (DIS, Fortune 500) hit an all-time high after the media company posted strong earnings growth.

Bed Bath & Beyond (BBBY, Fortune 500) agreed to buy Cost Plus (CPWM) for almost $495 million, or $22 per share.

Shares of Macy's (M, Fortune 500) dropped after the retailer failed to boost its forecasts. That caused investors to worry about a slowdown in consumer spending, even after the company's results beat analysts' expectations.

After the close Wednesday, shares of News Corp (NWSA, Fortune 500)., the media company under siege for a phone hacking scandal in Britain, surged after it beat forecasts.

Shares of equipment-maker Cisco Systems (CSCO, Fortune 500) and travel website Priceline.com (PCLN) both fell in after-hours trading when the companies reported earnings after the close.

Shares of video-game developer Take-Two Interactive Software (TTWO) fell Wednesday, after it announced that it would delay the release of a new game from its popular franchise "Bioshock Infinite."

* Turning natural gas into diesel fuel

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

Oil for June delivery fell 20 cents to $96.81 a barrel.

Gold futures for June delivery tumbled $10.30 to $1,592.20 an ounce.

Bonds: The price on the benchmark 10-year U.S. Treasury rose, pushing the yield down to 1.83% from 1.84% late Tuesday.

Image

Market Update

4:30 pm : For the second straight session concerns about the implications of political uncertainty in Greece dropped the major equity averages in excess of 1%, but stocks managed to slash losses.

This morning market participants took their cues from Europe, where the region's major bourses faltered, debt yields spiked, and the euro retreated to a multi-month low of less than $1.30, all amid worries that political impasse in Greece could undermine the country's commitment to austerity measures and, in turn, complicate the country's next bailout tranche. Concerns about the latter were put to rest by afternoon reports that the EFSF will make more than 5 billion euros available to Greece.

At its low, the S&P 500 traded beneath the depths set during the prior session, but didn't quite challenge the March low of about 1340. As for the Dow, it dipped its prior session low, but did not break under its April low. Meanwhile, the Nasdaq probed its prior session low, but did not violate it.

Tech proved pivotal in helping drive stocks up from session lows. The largest sector by market weight was down 1.5% at its session low, but completely overcame that deficit and extended its climb to a narrow gain before being backed down to a 0.1% loss. Microsoft (MSFT 30.76, +0.26) was a primary leader, but shares of CISCO (CSCO 18.78, +0.07) managed a modest gain ahead of the company's quarterly report.

Fellow Dow component Disney (DIS 45.02, +0.72) scored a strong gain of its own. The stock was bid up to a new 52-week high on the back of a better-than-expected earnings report.

Financials were left out of the recovery effort for the second straight session, mostly because of the perception about their vulnerability to eurozone tumult. The sector's 1.2% loss today came on top of a 0.7% drop in the prior session. Month to date, the Financial sector is down more than 3%, or slightly worse than the S&P 500 in that time.

Although the broad market was able to fight through selling pressure, it was unable to turn the move into a gain. Once the S&P 500 came in contact with the neutral line sellers redoubled their efforts to keep the stock market in the red. While the Dow came close to the neutral line, the Nasdaq actually poked into positive territory for an incremental gain before it was pushed lower.

The stock market's afternoon slip helped Treasuries reclaim only a small portion of their gains. Early strength had the yield on the benchmark 10-year Note to a 2012 low of 1.80%. Results from an auction of 10-year Notes drew a bid-to-cover of 2.90, dollar demand of $69.6 billion, and an indirect bidder rate of 38.7%. For comparison, the prior auction attracted a bid-to-cover of 3.08, dollar demand of $64.7 billion, and an indirect bidder participation rate of 38.5%, while an average of the past six auctions results in a bid-to-cover of 3.14, dollar demand of $68.8 billion, and an indirect bidder rate of 42.9%.

Gold prices were pared again. It set a session low of $1578.50 per ounce, but settled with a 0.7% loss at $1593.80 per ounce.

Crude oil prices fell for a sixth straight session, closing at $96.79 per barrel. Prices are down more than 8% in those six sessions.

Advancing Sectors: None
Declining Sectors: Utilities -0.1%, Tech -0.1%, Consumer Discretionary -0.5%, Telecom -0.5%, Consumer Staples -0.7%, Energy -0.7%, Materials -0.8%, Health Care -0.9%, Financials -1.2%, Industrials -1.2%DJ30 -97.03 NASDAQ -11.56 NQ100 -0.3% R2K -0.5% SP400 -0.4% SP500 -9.14 NASDAQ Adv/Vol/Dec 881/2.05 bln/1610 NYSE Adv/Vol/Dec 967/940 mln/2044

3:30 pm : The CRB Index was able to recover almost all of its loss today, but still settled 0.1% lower. That marked its fifth loss in six sessions.

A close at $96.79 per barrel marked crude oil's sixth straight slide. In that time prices have fallen more than 8% and notched a new low for 2012. A stronger dollar and weak inventory data that showed a build of 3.65 million barrels played a part in the latest leg lower. Natural gas, on the other hand, extended its prior session climb by settling at $2.46 per MMBtu for a 2.9% gain. Along the way it touched $2.51 per MMBtu.

Precious metals prices were in the red all session as the dollar staged another advance amid continued political concerns in Greece. That said, both gold and silver came off their respective session lows of $1578.50 per ounce and $28.61 per ounce, so that gold settled with a 0.7% loss at $1593.80 per ounce and silver finished with a 0.6% loss at $29.25 per ounce. DJ30 -82.54 NASDAQ -10.08 SP500 -7.34 NASDAQ Adv/Vol/Dec 885/1.61 bln/1580 NYSE Adv/Vol/Dec 1025/625 mln/1970

3:00 pm : Broad market losses are building as stocks enter the final hour of the session, but stocks remain well above the lows that were set this morning.

Shares of Industrial stocks are in the worst shape, down 1.1%, but Financials remain a more significant drag, given their collective weight. Financials are currently positioned for a 0.9% loss, which would come on top of the near 1% drop that they suffered in the prior session. Much of the sector's weakness stems from concerns about the exposure of firms to the eurozone.

Tomorrow brings the latest international trade and price numbers, and a weekly count of initial jobless claims, all at 8:30 AM ET. Results from the latest Treasury auction will be released at 1:00 PM ET, followed by the latest Treasury Budget at 2:00 PM ET. DJ30 -71.68 NASDAQ -7.37 SP500 -6.14 NASDAQ Adv/Vol/Dec 935/1.46 bln/1515 NYSE Adv/Vol/Dec 1125/570 mln/1855

2:30 pm : Efforts to climb higher have encountered resistance, forcing the S&P 500 back to a modest loss. The Dow also remains in the red, but the Nasdaq is still at the neutral line.

Amid concerns that political uncertainty in Greece may tempt officials to suspend the country's bailout funds -- something that could prompt the country to default -- recent reports indicate that the EFSF has confirmed that it will make a tranche of 5.2 billion euros available for Greece. The euro remains in the red with a 0.3% loss at $1.30. DJ30 -42.61 NASDAQ -0.74 SP500 -2.91 NASDAQ Adv/Vol/Dec 965/1.38 bln/1500 NYSE Adv/Vol/Dec 1175/530 mln/1785

2:00 pm : Stocks have extended their climb higher. The effort has put the S&P 500 at the flat line and the Nasdaq in positive territory with an incremental gain. The Dow is quickly approaching the neutral line.

Tech stocks continue to provide leadership. The sector is now up 0.5% after it had been down about 1.5% at its session low. Apple (AAPL 573.10, +4.92), IBM (IBM 202.89, +1.41), and Microsoft (MSFT 30.70, +0.20) are out in front. Shares of AAPL are actually challenging their 50-day exponential moving average in the area just above $570. DJ30 -20.97 NASDAQ +0.83 SP500 -1.21 NASDAQ Adv/Vol/Dec 890/1.25 bln/1550 NYSE Adv/Vol/Dec 1140/485 mln/1815

1:30 pm : The S&P 500 is back at its session high, but the Dow has actually set a new session high. The Nasdaq isn't quite to the heights it reached around noon ET.

With the tone around stocks improving, Treasuries have been surrendering gains. Also in the mix are results from an auction of 10-year Notes. The offering resulted in a bid-to-cover of 2.90, dollar demand of $69.6 billion, and an indirect bidder rate of 38.7%. For comparison, the prior auction attracted a bid-to-cover of 3.08, dollar demand of $64.7 billion, and an indirect bidder participation rate of 38.5%, while an average of the past six auctions results in a bid-to-cover of 3.14, dollar demand of $68.8 billion, and an indirect bidder rate of 42.9%. DJ30 -43.79 NASDAQ -9.45 SP500 -4.28 NASDAQ Adv/Vol/Dec 760/1.12 bln/1690 NYSE Adv/Vol/Dec 855/430 mln/2090

1:00 pm : Stocks are up from session lows, but they remain in the red for the fifth time in six sessions.

Political impasse in Greece has revived concerns about the country's commitment to austerity measures and, in turn, the availability of bailout tranches to the country. Such themes stirred investors in Europe to pare risk and drive down the euro to a new multi-month low of less than $1.30; the action undermined stateside sentiment this morning.

A preference for safety also prompted participants to rotate more money into Treasuries, dropping the yield on the 10-year Note to a 2012 low of 1.80% ahead of an auction of 10-year Notes -- results will be released at 1:00 PM ET.

The negative tone to early trade forced stocks sharply lower at the open. The S&P 500 eventually broke below its prior session low to come within a few points of its March low, but leadership from Tech has helped stocks recover.

The Tech sector was down markedly this morning, but newfound strength among large-cap issues has helped the sector poke into positive territory to sport an incremental gain. Utilities, up 0.1%, make up the only other sector that has mustered any kind of gain.

Financials remain a drag. The sector's near 1% decline comes after it also lagged in the prior session. Diversified financial services stocks have weighed heavily. Data has had little sway with traders.

The only item released today is a wholesale inventory report that indicated inventories increased in March by 0.3%, which is only half of what had been widely expected.

Although the stock market has worked its way higher, it remains in negative territory with a significant loss. That said, Avon Products (AVP 21.24, +1.47) has been an impressive performer amid M&A speculation. Meanwhile, Disney (DIS 45.18, +0.88) has traded up to a new 52-week high. DJ30 -76.37 NASDAQ -12.58 SP500 -7.35 NASDAQ Adv/Vol/Dec 660/1.04 bln/1770 NYSE Adv/Vol/Dec 725/400 mln/2210

12:30 pm : Stocks have failed to extend their rebound, giving way to renewed selling pressure. The major equity averages remain well above session lows, though.

The action today has taken the Volatility Index up about 5% so that it is now back at 20. The "Fear Gauge" surged in the prior session to cross above 20 for the first time in about a month, but because of a steady afternoon climb by stocks the VIX reversed to finish the day with a gain of less than 1%. DJ30 -86.85 NASDAQ -12.15 SP500 -7.93 NASDAQ Adv/Vol/Dec 715/905 mln/1675 NYSE Adv/Vol/Dec 855/350 mln/2065

12:00 pm : Efforts to moderate losses have taken stocks to session highs. Newfound strength among Tech issues has helped take the Nasdaq to within close reach of the flat line. As a group, Tech stocks are up 0.2%, which makes them the best performers of the session.

For the second straight session Financials are lagging. Their 1.0% collective loss today comes on top of a near 1% decline in the prior session. Both put them among the worst performers. Most diversified financial services stocks are weighing heavily on the group today; JPMorgan Chase (JPM 40.56, -0.82) and Citigroup (C 30.33, -0.99) have been especially weak. DJ30 -75.95 NASDAQ -6.90 SP500 -6.43 NASDAQ Adv/Vol/Dec 680/795 mln/1690 NYSE Adv/Vol/Dec 800/305 mln/2085

11:30 am : Stocks have extended their push higher, halving broad market losses in the process.

Tech stocks have helped lead the effort. The largest sector by market weight has managed to reverse its entire loss so that it sits at the flat line. Large-cap Tech plays like Microsoft (MSFT 30.66, +0.16), Apple (AAPL 569.37, +1.19), and Cisco (CSCO 18.79, +0.08) have been critical to the climb. Although the tone of trade has improved among many Tech issues, shares of semiconductor-related players remain under pressure, such that the Philadelphia Semiconductor Index is still down 0.8%. DJ30 -77.35 NASDAQ -13.55 SP500 -7.55 NASDAQ Adv/Vol/Dec 565/660 mln/1800 NYSE Adv/Vol/Dec 570/250 mln/2320

11:00 am : The major equity averages recently pushed through prior session lows to probe new depths, but stocks are trying to recover some of their losses.

Persistent pressure against the euro has dropped the currency for a 0.5% loss against the greenback. It is now down more than 1% for the week, as currency traders assess the likelihood that bailout tranches to Greece become suspended in response to political turmoil and tenuous commitments to austerity plans.

A preference for safety has also prompted many market participants to rotate more money into Treasuries. The result has been a lower yield on the benchmark 10-year Note, which now sits at 1.82% after setting a 2012 low at 1.80%. Results from an auction of 10-year Notes will be released at 1:00 PM ET. DJ30 -124.43 NASDAQ -26.90 SP500 -13.61 NASDAQ Adv/Vol/Dec 475/515 mln/1855 NYSE Adv/Vol/Dec 475/200 mln/2380

10:35 am : Oil prices were down to about $95.60 per barrel in the moments that immediately preceded the latest weekly inventory report, which showed a build of 3.65 million barrels when a build of 2.0 million barrels had been broadly anticipated. Prices have actually improved to $95.90 per barrel, which makes for a 1.1% loss.

Nautral gas prices have added to their gains. The effort has prices up 2.9% to $2.55 per MMBtu.

Precious metals remain in the red. Steady pressure has gold prices down 1.1% to $1587 per ounce, while sliver sits at $28.95 per ounce, which makes for a 1.7% loss.

Overall weakness in the commodity complex has the CRB Index down another 0.7%. DJ30 -168.78 NASDAQ -40.87 SP500 -18.88 NASDAQ Adv/Vol/Dec 425/340 mln/1850 NYSE Adv/Vol/Dec 425/145 mln/2400

10:00 am : The broad market recently re-tested its session low, but the line held. Stocks are now starting to squeeze higher. Still, sizable losses remain.

The latest Wholesale Inventory report indicated that inventories increased by 0.3% in March. That's only half of the increase that had been expected, on average, among economists polled by Briefing.com. DJ30 -103.08 NASDAQ -22.20 SP500 -12.20 NASDAQ Adv/Vol/Dec 355/130 mln/1840 NYSE Adv/Vol/Dec 355/75 mln/2390

09:45 am : An opening slide dropped stocks to sizable losses, but support has been found near the lows set during the prior session.

Energy and Financials remain sources of considerable weakness. Both sectors are down in excess of 1%. Industrials and Materials are also in pretty poor shape as the grapple with similar losses.

There isn't a single sector in positive territory this morning, but defensive sectors like Telecom, Consumer Staples, and Utilities have managed to limit losses to only 0.5%. DJ30 -113.68 NASDAQ -25.85 SP500 -12.62 NASDAQ Adv/Vol/Dec NA/NA/NA NYSE Adv/Vol/Dec NA/NA/NA

09:15 am : S&P futures vs fair value: -14.50. Nasdaq futures vs fair value: -28.30. Broad market stock futures are just above their morning lows, pointing to an opening loss on the order of 1%. The decidedly negative tone comes as market participants respond to the implications of political impasse in Greece. In a tacit sign of risk aversion, yields on debt of countries in the eurozone periphery have pushed higher. Equities across Europe are also generally lower, while the euro falls 0.4% to trade at a multi-month low close to $1.29. There haven't been any economic reports or earnings announcements to restore confidence among market participants.

09:05 am : S&P futures vs fair value: -15.00. Nasdaq futures vs fair value: -30.30. Crude oil prices fell hard in the prior session, but the energy component was able to cut its losses into the close. Selling pressure has since returned, though. The action has dropped prices back to $95.80 per barrel for a 1.2% loss. Volatility could pick up with the release of weekly inventory numbers at 10:30 AM ET. Natural gas prices are currently up 0.9% to $2.50 per MMBtu, building on their prior session rebound. Precious metals are back under pressure. Specifically, gold prices are down 1.1% to $1586.40 per ounce, while silver sits at $28.89 per ounce with a loss of about 2.0%.

08:35 am : S&P futures vs fair value: -16.30. Nasdaq futures vs fair value: -30.50. Trade in Europe continues to be driven by the political tumult of Greece. Uncertainty related to that theme has lifted yields on debt of countries in the eurozone periphery, and also undercut their equity markets. As such, Italy's MIB is down 2.0%, Spain's IBEX is down 3.5%, and Portugal's PSI is down 1.3%. However, Greece's Athex has managed to muster a 0.5% gain after slumping to steep losses in recent sessions. Action among the region's major bourses is generally weak. Germany's DAX is currently down 0.6%. Deutsche Lufthansa, Infineon Tech, Deutsche Bank (DB 38.99, -1.39), and Deutsche Boerse currently lead losses, while Commerzbank and Bayer AG sport enviable gains. The country's latest trade balance totaled 17.4 billion euros, up from 14.9 billion in the prior month. Britain's FTSE is presently off by 1.3%. Royal Bank of Scotland (RBS 7.27, -0.37), Lloyds Group (LYG 1.91, -0.08), and Tullow Oil are trading with pronounced weakness, while ITV Plc, Glencore International, BT Group (BT 34.92, +0.00), and a handful of others have actually put together gains. France's CAC is currently off by 1.1%. Financials are leading losses for the second straight session. Total (TOT 44.38, -1.45) is also under sharp pressure. The country's trade deficit for March grew to 5.7 billion euros from about 5.3 million euros in the prior month.

Overnight action in Asia took Japan's Nikkei down to a 1.5% loss. Oki Electric, Kobe Steel, Kawasaki Heavy Industries, and Pacific Metals led losses. Fuji Heavy Industries, Softbank, Panasonic Corp, Toshiba, and Sony managed to score solid gains in the face of broad market weakness. As an aside, the country's Leading Index improved to 96.6 in March from 96.0 in February. Hong Kong's Hang Seng shed 0.8% amid broad-based weakness. Bank of China, China Construction Bank, and Industrial & Commercial Bank of China led downside action. Aluminum Corp of China (ACH 11.26, +0.00) was an especially poor performer. CST Mining managed to put together a nice gain, though. Mainland China's Shanghai Composite closed the day with 1.6% loss. Banking and financial plays were also weak there, but China Shipbuilding Industry, Sinohydro Group, and TONTEC Tech Investment were able to stage gains.

Note: ticker quotes reflect US premarket prices.

08:05 am : S&P futures vs fair value: -12.00. Nasdaq futures vs fair value: -23.80. In the prior session stocks staged an afternoon ascent that slashed losses, but the momentum reversed in overnight action. Stock futures now trail fair value by a substantial margin. Europe's major bourses are also wrestling with selling pressure. The inclination to push stocks lower comes amid lingering concerns about the implications of continued political uncertainty in Greece. That theme has also resulted in higher yields on the debt of countries in the eurozone periphery, along with a weaker euro, which is currently down 0.3% so that it sits fractionally below $1.30.

Although earnings season is winding down, Dow component Walt Disney (DIS 44.70, +0.40) posted a strong quarterly report last evening, earning its shares a solid bid in premarket trade. Note: ticker quote reflects most recent premarket price.

The economic calendar remains light today; it is occupied only by monthly wholesale trade numbers, which are due at 10:00 AM ET. However, weekly oil inventory numbers are also on tap for today; they are due at 10:30 AM ET. Treasuries, which have been trading higher in response to the stock market's recent malaise, are likely to come into closer focus with the release of results from an auction of 10-year Notes at 1:00 PM ET.

06:17 am : [BRIEFING.COM] S&P futures vs fair value: -10.00. Nasdaq futures vs fair value: -20.00.

06:17 am : Nikkei...9045.06...-136.60...-1.50%. Hang Seng...20330.64...-154.10...-0.80%.

06:17 am : FTSE...5531.65...-22.90...-0.40%. DAX...6445.69...+1.00...0.00.

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