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 Post subject: June 1st Friday 2012 Emini TF ($TF_F) points +1.50
PostPosted: Fri Jun 01, 2012 10:36 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: +1.50 points or $150 dollars in the Russell 2000 Emini TF ($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=105&t=1236.

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=162&t=1492

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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.

U.S. Stock Market Wrap

June 1 (Bloomberg) -- Bloomberg's Deborah Kostroun reports on the performance of the U.S. equity market today. U.S. stocks fell the most since November, erasing the Dow Jones Industrial Average's 2012 advance, as American employers added the fewest workers in a year and reports signaled global manufacturing was slowing.

Stocks Slammed As Dow Erases 2012 Gains

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

NEW YORK (CNNMoney) -- Wall Street suffered its bloodiest day of the year Friday as U.S. stocks sank more than 2% following an ugly jobs report. The Dow erased all its gains for the year, and the S&P 500 and Nasdaq moved into correction territory, down more than 10% from the year's highs.

The sell-off was broad, with all 30 Dow components ending in the red, and 97% of the S&P 500 closing lower.

As jittery investors fled stocks, they plowed into the safety of U.S. government debt, pushing the yields on the 10-year Treasury note and the 30-year Treasury bond to fresh record lows.

The Dow Jones industrial average (INDU) plunged 275 points, or 2.2%, the biggest one-day drop since November. The blue-chip index gave up all its gains for the year, and is now 99 points below where it finished 2011. The S&P 500 (SPX) lost 32 points, or 2.5%, and the Nasdaq (COMP) dropped 80 points, or 2.8%.

The S&P 500 and Nasdaq are now down more than 10% from their highs of the year, which means they are officially in what investors call a correction.

"The U.S. employment report was simply terrible," said Marc Chandler, global head of currency strategy at Brown Brothers Harriman.

The May jobs report showed only 69,000 jobs were added to payrolls, less than half the 150,000 jobs forecast by economists surveyed by CNNMoney. The unemployment rate ticked higher for the first time in a year, rising to 8.2%.

The CNNMoney Fear and Greed index showed investor confidence sliding even farther into "extreme fear" territory on the news.

* Investors run for cover as fear intensifies

"The move in bond markets is even more telling," said Joe Saluzzi, co-head of equity trading at Themis Trading. "A 1.5% 10-year yield? That's fear."

Bond yields have been in record low territory for the past couple of weeks, as fears of Europe's escalating debt crisis have been building. A report on Friday showed the eurozone unemployment rate at a record high of 11%. (Unemployment rate - explain it to me)

Concerns about slowing growth in emerging markets, including China and India, have also put investors on edge. Two reports out of China Friday morning showed that the manufacturing sector contracted more than expected in May, fueling investors' concerns that the country may be headed for a hard landing.

As global economic growth has slowed in the last year, exports to Europe -- China's largest foreign market -- have taken a hit as the debt-ridden region teeters on the brink of recession.

"We've got concerns about Europe, China, India, the United States -- this is a global problem," said Saluzzi. "Investors have no place to hide."

Given the growing fears, and fragile market and economic environment, Saluzzi said central banks around the world -- particularly the European Central Bank and the Federal Reserve -- will likely come out with plans to help stimulate the global economy.

Speculation that the Fed will launch a third round of bond buying, or QE3, which is meant to keep long-term interest rates low, has been growing, but Saluzzi is not convinced that it's the right solution.

"Interest rates are already low, and that hasn't worked," he said. "I'm sure the Fed will try something, because that's what it does, but it needs to attack from a different angle."

U.S. stocks finished in the red Thursday, ending a difficult month on a weak note. The Dow and S&P 500 dropped more than 6% in May, while the Nasdaq shed more than 7%.

* Video - That funky smell? It's the U.S. economy

Economy: Personal income and personal spending for April increased 0.2%. Analysts had expected the figure to increase by 0.3%.

The May installment of the ISM Manufacturing Index showed that U.S. manufacturing growth slowed in May. The index fell to 54.5, down from 54.8 last month and below expectations of 54. Any reading above 50 indicates growth in the sector.

April construction spending rose by 0.3%, but that was below forecasts for a 0.5% rise.

Companies: Shares of Facebook (FB) hit a fresh low of $26.83 Thursday before bouncing back, ending the day up 5% at $29.60. The stock edged higher Friday, closing up 0.1%.

Shares of food producer Sara Lee (SLE, Fortune 500) slipped after the company said it was spinning off its international coffee and tea business, which will pay a special dividend to existing Sara Lee shareholders. Sara Lee also announced a 1-for-5 reverse stock split.

BP (BP) said it was considering selling its 50% stake in TNK-BP, a Russian oil joint venture, after it received an unsolicited bid for the holding. Shares of BP gained ground.

Groupon (GRPN) shares fell. The online discount service, which has been dogged with questions about its accounting practices since its initial public offering in November, ends its lock-up period Friday, meaning that insiders who own shares will be able to sell them.

The nation's Big Three automakers -- General Motors (GM, Fortune 500), Ford Motor (F, Fortune 500) and Chrysler -- all reported a jump in car sales in May, but the results were less than expected by some analysts -- another sign that the U.S. economy, while growing, remains weaker than hoped.

World markets: European stocks closed deep in the red. Britain's FTSE 100 (UKX) dropped 0.9%, while the DAX (DAX) in Germany sank 3.2% and France's CAC 40 (CAC40) tumbled 2.5%.

Asian markets ended mixed. The Shanghai Composite (SHCOMP) closed slightly above breakeven, while the Hang Seng (HSI) in Hong Kong slid 0.4% and Japan's Nikkei (N225) fell 1.2%.

* Hedging won't save your portfolio or pension

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

Oil for July delivery slid $3.30, or 3.8%, to settle at $83.23 a barrel.

Gold futures for August delivery rose $57.90 to settle at $1,622.10 an ounce.

Image

Market Update

4:20 pm : Domestic markets were closed on Monday in observance of Memorial Day so trade this week started on Tuesday, when stocks advanced more than 1% amid speculation that plans for new spending in China were a sign of further stimulus from the country. Comments that political leaders in Greece want to remain with the euro also stirred a positive response.

Data on Tuesday came with little consequence. The Consumer Confidence Index for May fell to 64.9 from a downwardly revised 68.7 in the prior reading. The University of Michigan had posted the strongest Consumer Sentiment Survey in four years just one week before.

Sentiment among market participants soured by Wednesday, when the major equity averages fell in excess of 1% in response to renewed worries about the health and fate of the eurozone. Rumors regarding European bank recapitalizations were shrugged off.

News of a 5.5% drop in pending home sales during April failed to improve the mood since a 0.6% increase had been broadly expected.

The flow of data picked up on Thursday, but the underwhelming nature of the numbers forced the S&P 500 down to the 1300 line before buyers stepped in to provide support.

First quarter GDP was revised downward to reflect growth of 1.9%. Many economists had thought that the 2.2% increase featured in the preliminary reading would be revised to reflect growth of 2.0%.

Market participants were given a preview of the jobs picture via the latest ADP Employment Change. It showed that private payrolls increased during May by 133,000, which is less than the increase of 157,000 that had been expected, on average, among economists polled by Briefing.com.

The latest weekly initial jobless claims count increased to 383,000, which is more than the tally of 368,000 that many had come to expect following several straight weeks with initial claims staying near 370,000.

Trading volume on the NYSE surged to more than 1 billion shares on Thursday, which marked the final day of May. During the course of the month the S&P 500 sank more than 6% for its worst monthly performance since September.

Participants were compelled to sell on Friday by another round of disappointing data.

As if to compound concerns about the eurozone’s fiscal, financial, and economic conditions, a batch of banal PMI numbers were released by Europe after a lackluster PMI reading from China. They were followed by one of the worst US payrolls reports of the past year.

Official numbers indicate that nonfarm payrolls increased in May by 69,000, which is far less than the increase of 150,000 that had been expected, on average, among economists polled by Briefing.com. Nonfarm private payrolls increased by a mere 82,000, which is also hardly half of what had been broadly forecasted – the Briefing.com consensus had called for an increase of 168,000.

What’s more, the headline unemployment rate ticked up to 8.2%. Most economists expected it to remain at 8.1%.

Manufacturing data also proved uninspiring as the ISM Index declined during May to 53.5 from 54.8 in the prior month, missing the reading of 54.0 that had been expected for the latest reading.

Generally on par with what had been projected, personal spending and income increased in April by 0.3% and 0.2%, respectively, while core personal consumption expenditures increased by 0.1%. Construction spending increased during April by 0.3%, which is less than the 0.5% increase that many had come to expect.

While the data likely increased the probability of further Fed action, including another round of quantitative easing, it failed to prevent a steep sell-off. The efforts of sellers resulted in the worst one-day percentage drop for the S&P 500 since December, and left it to trade at a multi-month low beneath its 200-day moving average. The broad market measure hasn’t closed below that key technical line since the very end of 2011.

Gold garnered strong buying interest as traders turned defensive. The yellow metal’s price pushed up from an early morning loss to a session high of $1624 per ounce before it closed with a 3.6% gain at $1621.40 per ounce. Prior to today’s surge, gold was mired near the multi-month lows that had followed a few weeks of selling.

In contrast, oil prices extended their downtrend by dropping 3.9% to close pit trade at $83.17 per barrel. Along the way they logged their lowest level in more than seven months at $82.27 per barrel.

Oil’s slide played a part in Energy’s many poor performances this week. The sector fell more than 2% on Friday, and roughly 4.5% for the week.

Defensive in nature, Telecom and Utilities had the best week in that they were the only two major sectors that limited weekly losses to less than 1%.

Treasuries, a favorite safe haven among investors, traded higher once again. In fact, the yield on the benchmark 10-year Note dropped to a record low near 1.44% amid aggressive selling in the early going. It gradually eased up from that mark as trade progressed.

The dollar forfeited and early gain to end the session with a loss of about 0.2% against a basket of major foreign currencies, namely the euro, which rallied to a 0.5% gain against the greenback. The euro’s bounce came after it briefly fell beneath $1.23 to set its lowest level in nearly two years.

Although the Volatility Index eventually eased back, it pushed up to a 2012 high narrowly above 26 amid the stock market’s initial flush. DJ30 -274.88 NASDAQ -79.86 NQ100 -2.6% R2K -3.1% SP400 -3.2% SP500 -32.29 NASDAQ Adv/Vol/Dec 419/1.85 bln/2152 NYSE Adv/Vol/Dec 417/789 mln/2619

3:30 pm : The CRB Index sank 1.7% for its fourth consecutive loss. For the week it fell 4.8%, which stands as its fifth straight weekly decline.

Crude oil struggled in negative territory for its entire session as a disappointing U.S. jobs report, weak PMI figures from abroad, and continued eurozone concerns weighed on the energy component. It touched a session low of $82.27 per barrel, its lowest level since October, before it settled at $83.17 per barrel for a weekly loss of 8.5%. Natural gas suffered an even bigger slide. It settled at its session low of $2.32 per MMBtu for a weekly loss of 11.5%.

Precious metals, however, rallied out of negative territory at pit trade open in response to the weak U.S. jobs report. The upward momentum continued for the entire floor session, with both gold and silver settling just below their respective session highs of $1624.00 per ounce and $28.68 per ounce. Today’s protective buying helped push both metals higher for the week. Gold settled the week 3.2% higher at $1621.40 per ounce, while silver finished with a 0.3% weekly gain at $28.51 per ounce.DJ30 -271.33 NASDAQ -75.88 SP500 -31.48 NASDAQ Adv/Vol/Dec 440/1.48 bln/2125 NYSE Adv/Vol/Dec 445/605 mln/2585

3:00 pm : Stocks are narrowly above session lows as they enter the final hour of the day. As things currently stand, this is the worst single session for the S&P 500 since a precipitous drop this past December.

Although the dollar has been a popular safe haven in recent weeks -- it has advanced against a basket of major foreign currencies for five straight weeks -- the greenback has been under pressure for most of today's trade. It was up in the early going, but has since faltered so that it is down 0.2%. Most of the dollar's drop is due to renewed strength in the euro, which is now up 0.5% to $1.24. DJ30 -265.08 NASDAQ -74.26 SP500 -30.85 NASDAQ Adv/Vol/Dec 465/1.34 bln/2090 NYSE Adv/Vol/Dec 455/550 mln/2570

2:30 pm : Stocks have followed up their worst monthly performance since September with their worst one-day percentage drop since December. The decidedly weak action comes amid ongoing concerns about the precarious conditions of the eurozone, both in its core and along its periphery, as well as a few doses of disappointing domestic data that have featured a downward revision to first quarter GDP on Thursday and a much smaller-than-expected increase in monthly payrolls today.DJ30 -250.25 NASDAQ -72.59 SP500 -29.09 NASDAQ Adv/Vol/Dec 425/1.24 bln/2120 NYSE Adv/Vol/Dec 435/510 mln/2585

2:00 pm : Stocks remain unable to shake free from the grip of sellers, who have sent stocks to new session lows, or new multi-month lows for that matter.

Utilities stocks make up the only major sector that has managed to limit its loss to less than 1%. The sector's 0.4% decline today is quite enviable when compared with the 3.7% drop that Financials are having to endure. DJ30 -252.63 NASDAQ -72.58 SP500 -29.88 NASDAQ Adv/Vol/Dec 430/1.12 bln/2105 NYSE Adv/Vol/Dec 445/465 mln/2555

1:30 pm : Efforts to slash risk have resulted in especially steep losses for small-cap stocks. As such, the Russell 2000 has sunk to a loss of about 2.7%, which stands as its worst one-day drop of 2012. The loss has the Russell 2000 positioned for a 3.3% weekly loss, which would mark its fourth weekly loss in five weeks.DJ30 -234.47 NASDAQ -68.55 SP500 -28.21 NASDAQ Adv/Vol/Dec 460/1.01 bln/2060 NYSE Adv/Vol/Dec 455/420 mln/2530

1:00 pm : On pace for its poorest performance of 2012, the S&P 500 is at a multi-month low and sitting on its 200-day moving average following disappointing data from both home and abroad.

On top of continued concerns about the health of the financial and banking system in the eurozone, several major European countries posted disappointing PMI readings this morning. Sentiment was further undermined by one of the worst payrolls reports of the past year.

The headline unemployment rate ticked up to 8.2%, surprising many. Most economists were also surprised to learn that during May nonfarm payrolls increased by only 69,000, while nonfarm private payrolls increased by a mere 82,000.

The ISM Manufacturing Index also proved unimpressive. It eased back to 53.5 in May from 54.8 in April, but had been widely expected to register a reading of 54.0.

Personal spending and income for April were more on par with expectations. They increased by 0.3% and 0.2%, respectively. Construction spending increased during April by 0.3%, but that is less than the 0.5% increase that had been generally forecasted.

The disappointing data has weighed on the dollar, which has benefited in recent weeks from the troubles of the eurozone. In fact, it is up about 0.7% this week against a basket of major foreign currencies; that makes for its fifth straight weekly gain. Today, though, the euro is up about 0.4% against the greenback.

Aggressive selling has all 10 major sectors in negative territory and the Volatility Index at elevated levels. Earlier today the euphemistically labeled Fear Gauge pushed up to 26 for a 2012 high.

Treasuries and gold have been the go-to holdings. Buying interest there has trimmed the yield on the benchmark to below 1.50%. The Note's yield was as low as 1.44% earlier today. Meanwhile, gold has climbed to almost $1620 per ounce for a gain of more than 3%.

Few stocks have come away unscathed from today's sell-off. Utilities have done the best job of limiting losses. The sector actually pushed into positive territory for a short time, but is now down to a 0.4% loss.

Financials are in the worst shape. The sector's 3% slide stands as its worst single-session performance since it dropped nearly 4% during an ugly day in December.

Auto makers have been hit hard, too. In addition to broad market pressure, their weakness comes in the wake of their latest monthly sales reports. DJ30 -223.12 NASDAQ -63.02 SP500 -26.12 NASDAQ Adv/Vol/Dec 430/925 mln/2075 NYSE Adv/Vol/Dec 430/390 mln/2545

12:30 pm : Stocks are stuck at session lows, leaving the S&P 500 to wrestle with a 2.0% loss. The S&P 500 hasn't fallen this hard since December.DJ30 -223.80 NASDAQ -62.19 SP500 -26.48 NASDAQ Adv/Vol/Dec 400/830 mln/2090 NYSE Adv/Vol/Dec 445/350 mln/2505

12:00 pm : Utilities have managed to slash their losses so that the sector is now up to the flat line. The other major sectors remain in the red, though. Even Telecom is down 0.9%, despite its appeal to market participants in recent weeks -- Telecom was the only major sector to score a monthly gain for May; it advanced almost 3%.DJ30 -201.89 NASDAQ -60.32 SP500 -23.48 NASDAQ Adv/Vol/Dec 380/740 mln/2110 NYSE Adv/Vol/Dec 400/315 mln/2545

11:30 am : Auto makers have been posting monthly sales results this morning. Ford (F 10.20, -0.36) experienced a 13% year-over-year increase for May sales. General Motors (GM 21.62, -0.58) reported an annualized increase of 11% for US monthly sales. Meanwhile, Toyota Motors (TM 75.00, -1.89) confirmed that its US sales increased in May by about 73% from the same period one year ago. Shares of all three firms are underperforming the broad market.DJ30 -224.44 NASDAQ -59.50 SP500 -25.80 NASDAQ Adv/Vol/Dec 340/600 mln/2130 NYSE Adv/Vol/Dec 375/265 mln/2540

11:00 am : The stock market has drifted down to a new low for 2012. Weakness remains widespread with declining issues outnumbering advancers by more than 7-to-1.

Financials are in the worst shape. The sector's 3.0% tumble today stands as its worst single-session performance since it dropped nearly 4% during an ugly day in December. DJ30 -226.15 NASDAQ -58.76 SP500 -25.89 NASDAQ Adv/Vol/Dec 330/490 mln/2120 NYSE Adv/Vol/Dec 355/220 mln/2525

10:30 am : The CRB Index was down to its lowest level in about 21 months this morning, but it has managed to pare some of its loss with help from precious metals. Still, the CRB continues to contend with a 1.4% loss.

Earlier this morning crude oil prices dropped below $82.60 per barrel to mark their lowest level since October. Prices have since lifted to $83.70 per barrel, but that still makes for a 3.3% loss.

Natural gas prices are also under sharp pressure. They were last quoted with a 3.3% loss at $2.34 per MMBtu, which is only a couple of pennies above the commodity's 50-day moving average.

Precious metals have rallied in response to revived macro concerns and a downturn by the dollar. Gold prices are now up 3.3% to $1616 per ounce, while silver sports a 2.7% gain at $28.50 per ounce. DJ30 -209.12 NASDAQ -53.87 SP500 -24.04 NASDAQ Adv/Vol/Dec 320/295 mln/2090 NYSE Adv/Vol/Dec 355/150 mln/2500

10:00 am : A couple of doses of data have been released. Although they aren't that impressive, stocks are starting to squeeze up from session lows.

The ISM Manufacturing Index eased back to 53.5 in May from 54.8 in April. It had been widely expected to register a reading of 54.0.

Construction spending increased during April by 0.3%, but that is less than the 0.5% increase that had been generally forecasted. DJ30 -167.91 NASDAQ -45.41 SP500 -20.24 NASDAQ Adv/Vol/Dec 255/140 mln/2110 NYSE Adv/Vol/Dec 300/93 mln/2485

09:45 am : Aggressive, broad-based selling has dropped the stock market for a steep loss that has left it to trade at its lowest level since January, and only a few points above its 200-day moving average.

The action has sent the Volatility Index up about 8% to 26.0, which stands as a new high for 2012.

Meanwhile, the dollar has started to lift off of its morning low, but is still down about 0.2% against a collection of competing currencies.

At the top of the hour market participants get the latest ISM Manufacturing Index and the latest monthly construction spending numbers. DJ30 -183.34 NASDAQ -49.09 SP500 -21.44 NASDAQ Adv/Vol/Dec NA/NA/NA NYSE Adv/Vol/Dec NA/NA/NA

09:15 am : S&P futures vs fair value: -23.90. Nasdaq futures vs fair value: -43.50. Disapponting monthly payrolls numbers on top of underwhelming data from abroad has weighed heavily on stock futures, such that the cash market is expected to open with the S&P 500 at a new multi-month low. Speculation over the implications of the disappointing jobs report has prompted a drop by the greenback, resulting in a rebound by the euro, which is now up 0.2% to about $1.24 after it had been in the red earlier today. The dollar's downturn and an interest in getting defensive has helped gold prices push up to a near 2% gain at $1594.20 per ounce.

09:05 am : S&P futures vs fair value: -23.90. Nasdaq futures vs fair value: -43.50. Sharp declines in energy prices have dropped the CRB Index for a 1.7% loss, which makes for its fourth straight loss and leaves the CRB on pace for a weekly slide of almost 5%. Crude oil prices continue to come under sharp selling pressure. The energy component was last quoted with a 3.8% loss at $83.25 per barrel. Meanwhile, natural gas prices have dropped to $2.36 per MMBtu for a 2.8% loss. Precious metals have attracted buying interest, however. Specifically, gold prices are up 1.5% to $1587 per ounce, while silver is sporting a 0.7% gain at $27.93 per ounce.

08:35 am : S&P futures vs fair value: -25.90. Nasdaq futures vs fair value: -45.80. Stock futures have taken a dive in the wake of some disappointing jobs numbers, but gold prices have pushed higher and Treasuries have extended their climb so that many yields are logging historical lows.

The official monthly payrolls report for May showed that nonfarm payrolls increased by only 69,000, which is less than half of what had been expected -- the consensus among economists polled by Briefing.com had called for an increase of 150,000. Nonfarm private payrolls increased by a mere 82,000, which is also only about half of the Briefing.com consensus call for an increase of 168,000. Meanwhile, the headline unemployment rate came in at 8.2%, which is greater than the 8.1% rate that had been broadly anticipated.

Separately, personal spending increased in April by 0.3%, exactly as had been broadly forecasted. Personal income increased in April by 0.2%, but that is slightly less than the 0.3% increase that had been widely forecasted. Core personal consumption expenditures increased by 0.1% during April. A 0.2% increase had been broadly expected.

08:05 am : S&P futures vs fair value: -14.30. Nasdaq futures vs fair value: -24.30. Failure to sustain a rebound in the prior session left stocks to suffer their second straight loss. Selling continues ahead of today's open as market participants respond to weakness abroad, where Europe's major bourses have dropped sharply in response to disappointing data and ongoing concerns about the fate of the eurozone. Debt yields among countries in the eurozone periphery are on the climb again, and the euro has fallen back near $1.23. Still of great interest to premarket participants is the latest monthly payrolls report, which will be posted at the bottom of the hour. The ISM Manufacturing Index and monthly construction spending numbers follow at 10:00 AM ET.

06:20 am : [BRIEFING.COM] S&P futures vs fair value: -16.90. Nasdaq futures vs fair value: -29.50.

06:20 am : Nikkei...8440.25...-102.50...-1.20%. Hang Seng...18558.34...-71.20...-0.40%.

06:20 am : FTSE...5282.94...-37.90...-0.70%. DAX...6127.44...-136.90...-2.20%.

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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