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 Post subject: June 20th Wednesday 2012 Emini TF ($TF_F) points +15.40
PostPosted: Thu Jun 21, 2012 5:30 am 
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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: +15.40 points or $1540 dollars in the Russell 2000 Emini TF ($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=1252.

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.

Stocks Falter After Fed Fails To Knock Socks Off

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NEW YORK (CNNMoney) -- U.S. stocks closed mixed Wednesday after the Federal Reserve extended one of its stimulus programs but stopped short of announcing a more aggressive bond buying policy.

The Dow Jones industrial average (INDU) dropped 13 points, or 0.1%, to end at 12,824. The S&P 500 (SPX) lost 2 points, or 0.2%, to 1,355. The Nasdaq (COMP) added 1 point, or less than 0.1%, to 2,930.

The Fed announced plans to extend Operation Twist, the policy of swapping short-term Treasuries in the central bank's portfolio for bonds with a longer duration. The program, which was due to expire June 30, will continue through the end of 2012. The Fed expects to buy $267 billion worth of bonds.

The announcement comes as economic conditions in the United States have deteriorated, with slower than expected job creation weighing on consumer sentiment. In addition, the debt crisis in Europe continues to pose a significant threat to the global economy.

At a press conference Wednesday afternoon, Fed chairman Ben Bernanke said extending Operation Twist is a "substantive step" and that the central bank is "prepared to do what is necessary to provide support for the economy."

Meanwhile, the Fed lowered its outlook for economic growth this year and raised its forecast for the unemployment rate.

The cloudy economic outlook had raised speculation that the Fed would take more aggressive steps to stimulate growth, such as intervening directly in the bond market. But Wednesday's move falls short of the full-blown quantitative easing that many investors have been calling for.

"Bernanke didn't give the market what it wanted, but he gave it what it expected," said Quincy Krosby, market strategist with Prudential Financial in Newark, N.J.

The extension of Operation Twist was widely anticipated and telegraphed by Fed officials. But Bernanke disappointed traders who were hoping for a clear hint that more stimulus was imminent, said Krosby.

"Traders don't want to hear maybe," she said. "And this is a trader's market."

U.S. stocks finished up about 1% Tuesday, as investors signaled hope for some Fed action.

CNNMoney's Fear & Greed index shows investors becoming less fearful, although the reading remains in "fear" territory. Just last week, the index had been in "extreme fear" territory.

The Fed: The Fed lowered its forecast for 2012 economic growth to a range of 1.9% to 2.4%. In April, the growth outlook was between 2.4% and 2.9%.

At the same time, the Fed raised its forecast for the unemployment rate, predicting it will end the year between 8% and its current 8.2%.

The Fed's Open Market Committee also held interest rates near zero, where they've been since December 2008, in an attempt to boost the economy. The FOMC has said it plans to keep rates "exceptionally low" through late 2014.

World markets: European stocks ended higher. Britain's FTSE 100 (UKX) gained 0.6%, the DAX (DAX) in Germany edged up 0.4% and France's CAC 40 (CAC40) rose 0.3%.

Investors welcomed news that Greece has formed a coalition government, which is a step in the right direction, though the country still has a tough road ahead.

In a classic "sell on the news" move, shares of The National Bank of Greece (NBG) slid 9% and Global X FTSE Greece 20 ETF (GREK) lost more than 1%. Both stocks were up sharply over the past five days.

Greece has been a thorn in investors' sides for months, with fears about the country leaving the eurozone and the ripple effect on other sovereign nations sending global financial markets on a roller coaster ride.

Asian markets ended mixed. The Shanghai Composite (SHCOMP) slid 0.3%, while the Hang Seng (HSI) in Hong Kong added 0.5% and Japan's Nikkei (N225) gained 1.1%.

Economy: Oil prices slid after the U.S. Energy Information Administration's weekly crude inventories report showed an increase of 2.9 million barrels in the week ended June 16. Economists had expected a decline.

Oil for July delivery slid $2.97 to $81.06 a barrel.
Want top stocks? Bet on brand names

Companies: Shares of Dow component Procter & Gamble (PG, Fortune 500) continued to fall as the maker of consumer products cut its sales and earnings guidance for the current quarter and the full year.

Shares of Adobe Systems (ADBE) dropped after the software maker lowered its guidance after Tuesday's close, citing "a weaker demand forecast in Europe."

La-Z-Boy (LZB)'s stock was lower after the company beat expectations in releasing its quarterly earnings.

Jabil Circuit (JBL, Fortune 500) shares got a boost after the contract electronics manufacturer reported improved earnings in line with forecasts.

Burger King (BKW) shares rallied after the fast-food chain debuted on the New York Stock Exchange for the third time.

Currencies and commodities: The dollar was down against the euro and the British pound but up against the Japanese yen.

Gold futures for August delivery dropped $7.40 to settle at $1,615.80 an ounce.

Bonds: The price on the benchmark 10-year U.S. Treasury fell, pushing the yield up to 1.66% from 1.62% late Tuesday.

Image

Market Update

4:15 pm : Four straight sessions of gains resulted in a cumulative gain greater than 3%, but that streak was snapped today as participants responded to a flurry of headlines from the Fed.

Headlining the news flow today is the latest FOMC Directive, which aims to extend "Operation Twist" through the end of the year in an effort to extend the average maturity of the Fed's securities holdings. Fed Chairman Bernanke later stated in a press conference that additional asset purchases would be considered by the Fed if necessary.

Stocks encountered selling in the minutes leading up to the announcement and even immediately after its release, but then began to rebound before losing momentum narrowly above the neutral line.

A lackluster forecast from the Fed failed to further encourage buyers. The Fed now expects real GDP growth for 2012 to range from 1.9% to 2.4%, down from the range of 2.4% to 2.9% that was previously projected. Unemployment for 2012 is now expected to range from 8.0% to 8.2%, which is up from the previously forecasted range of 7.8% to 8.0%. Inflation pertaining to total personal consumption expenditures is now expected to the range from 1.2% to 1.7%, while the core rate is now expected to range from 1.7% to 2.0%.

The dollar attracted a modest bid after spending most of the morning near the flat line, but was up only 0.1% against a basket of major foreign currencies by the closing bell.

Most commodities were clipped for losses, such that the CRB Index suffered a 1.6% loss after it had climbed more than 1% in the prior session. Among its more closely tracked constituents, crude oil touched a new 2012 low of $81.28 per barrel for the August contract before settling with a 3.4% loss at $81.45 per barrel. Weaker-than-expected inventory data likely exacerbated selling. As for gold, the yellow metal set a session low of $1590.50 per ounce before it settled floor trade with a 0.4% loss at $1616.60 per ounce.

Treasuries traded lower, but not terribly so. Action settled with the yield on the benchmark 10-year Note near 1.65%. As an aside, yields on Spain's debt continued to ease back so that the yield on the country's 10-year issue was comfortably below 7% after pushing above that level earlier this week.

Corporate news was in closer focus in the early going, but by afternoon it was overshadowed by the Fed.

Dow component Procter & Gamble (PG 60.39, -1.82) displeased market participants by cutting its profit forecast, but fellow blue chip JPMorgan Chase (JPM 36.45, +1.07) attracted buying interest when it was learned that the company has exited some 65-70% of its losing position.

Discover Financial (DFS 34.14, +0.57) served up in-line earnings and guidance that helped earn it favorable reviews from a few analysts. An underwhelming outlook from Adobe (ADBE 31.99, -0.90) overshadowed the company’s upside earnings surprise, but the stock still managed to slash its loss.

Advancing Sectors: Tech +0.2%, Financials +0.2%
Declining Sectors: Consumer Discretionary -0.1%, Helath Care -0.2%, Energy -0.3%, Industrials -0.4%, Telecom -0.5%, Consumer Staples -0.5%, Materials -0.5%, Utilities -1.1%DJ30 -12.94 NASDAQ +0.69 NQ100 +0.1% R2K -0.4% SP400 -0.2% SP500 -2.29 NASDAQ Adv/Vol/Dec 1052/1.44 bln/1403 NYSE Adv/Vol/Dec 1392/614 mln/1599

3:30 pm : General weakness in the commodity complex dropped the CRB Index for a 1.6% loss. That fully erased the gain that it had scored in the prior session.

Crude oil spent its entire pit session in the red, trending lower after touching a session high of $84.09 per barrel moments after floor trade opened. Weaker-than-expected inventory data that showed a build of 2.8 million barrels when a draw of 1.3 million barrels had been expected exacerbated selling. It touched a new 2012 low of $81.28 per barrel for the August contract before settling with a 3.4% loss at $81.45 per barrel. Natural gas gave up a strong overnight gain to slide into negative territory just a half hour into its floor session. It ultimately settled a choppy session with a 1.2% loss at $2.52 per MMBtu.

Gold trended lower in negative territory during morning pit action. It set a session low of $1590.50 per ounce following the release of the FOMC Directive that announced the extension of "Operation Twist." However, it rallied to a session high of $1620.30 per ounce before it settled floor trade with a 0.4% loss at $1616.60 per ounce. Silver began pit trade in negative territory, but pushed into positive territory to set a session high of $28.50 per ounce before it retreated all the way back to $27.63 per ounce. Silver eventually rebounded again so that it settled with a 0.1% gain at $28.39 per ounce. DJ30 -49.87 NASDAQ -7.17 SP500 -6.29 NASDAQ Adv/Vol/Dec 980/1.22 bln/1445 NYSE Adv/Vol/Dec 1220/505 mln/1760

3:00 pm : Stocks have been pushed lower in recent trade, but the major equity averages haven't yet returned to the depths that were set in the minutes that surrounded the release of the latest FOMC Directive.

Energy stocks have begun to take a heavy toll on trade. The sector's slide to a 0.8% loss comes as oil prices drop to new multi-month lows following the close of pit trade. Prices were last quoted at $81.20 per barrel. DJ30 -63.01 NASDAQ -9.04 SP500 -7.57 NASDAQ Adv/Vol/Dec 1110/1.12 bln/1300 NYSE Adv/Vol/Dec 1430/460 mln/1540

2:30 pm : Fed Chairman Bernanke is currently engaged in a question and answer session. He has stated that additional asset purchases would be considered by the Fed if necessary.

Action among stocks remains rather choppy amid Bernanke's comments. The mixed state of trade has been a near constant theme this session. DJ30 -39.35 NASDAQ -3.34 SP500 -4.70 NASDAQ Adv/Vol/Dec 1215/1.01 bln/1175 NYSE Adv/Vol/Dec 1640/410 mln/1310

2:05 pm : The Fed has just released its latest economic forecast. For 2012, real GDP growth is now expected to range from 1.9% to 2.4%, which is down from the range of 2.4% to 2.9% that was previously projected. Unemployment for 2012 is now expected to range from 8.0% to 8.2%, which is up from the previously forecasted range of 7.8% to 8.0%. Personal consumption expenditure inflation is expected to range from 1.2% to 1.7%, which is down from the range of 1.9% to 2.0%, whereas core personal consumption expenditure inflation is expected to range from 1.7% to 2.0%, which is only modestly revised at the bottom end from 1.8%.

Fed Chairman Bernanke is scheduled to begin his press conference at 2:15 PM ET. DJ30 +4.20 NASDAQ +4.10 SP500 -0.48 NASDAQ Adv/Vol/Dec 1200/955 mln/1200 NYSE Adv/Vol/Dec 1590/380 mln/1360

1:30 pm : All three major equity averages recently poked into positive territory, but they have been unable to extend the push for a meaningful gain. That has left the major averages to trade near the neutral line.

Meanwhile, Treasuries have turned lower after trading up in response to the latest FOMC Directive. In turn, the yield on the benchmark 10-year Note is now back near its session high. DJ30 -0.30 NASDAQ +2.15 SP500 -1.11 NASDAQ Adv/Vol/Dec 1240/855 mln/1120 NYSE Adv/Vol/Dec 1740/340 mln/1190

1:00 pm : Stocks have recovered from a flurry of selling that came amid the latest FOMC Directive, which points to the Fed's efforts to remain accomodative and its plan to extend "Operation Twist" into the end of the year. Still to come is the Fed's forecast and a press conference with Fed Chairman Bernanke at 2:00 PM ET and 2:15 PM ET, respectively.

Treasuries have responded positively to the directive. That has the benchmark 10-year Note back at the flat line after it had been down in morning and early afternoon trade.

Aside from the swings by stocks in the minutes surrounding the central bank's announcement, broad market action has been mostly lackluster. The tepid, cautious tone comes as participants rest on the gains scored during the past four sessions, and also reflect on the potential implications of the Fed's plans.

While that has kept many of the major sectors trading within close reach of the neutral line, the Consumer Staples sector has slumped to a 0.9% loss. Its weakness is largely owed to a precipitous drop by shares of Dow component Procter & Gamble (PG 60.12, -2.08) after the company cut its profit forecast.

Other corporate announcements include an underwhelming outlook from Adobe (ADBE 32.13, -0.76) after the company posted an upside earnings surprise for its latest quarter. Discover Financial (DFS 33.98, +0.41) served up in-line earnings and guidance that helped earn it favorable reviews among a few analysts. JPMorgan Chase (JPM 36.48, +1.10) has attracted strong support in response to word that the company has exited some 65-70% of its losing position. DJ30 -13.70 NASDAQ +1.66 SP500 -2.49 NASDAQ Adv/Vol/Dec 810/720 mln/1555 NYSE Adv/Vol/Dec 1020/275 mln/1890

12:35 pm : Stocks started to fall in the minutes leading up to the Fed's latest policy announcement. They extended that slide in its wake, but have since stabilized. A key takeaway from the FOMC directive is that "Operation Twist" will be continued through the end of the year in an effort to extend the average maturity of the Fed's securities holdings.

Outside of equities, the dollar has pushed up from the flat line to a 0.3% gain against a basket of major foreign currencies. Meanwhile, gold prices have fallen back below $1600 per ounce for a 1.5% loss after they started to trim losses ahead of the announcement. Oil prices have taken a tumble; the energy component was last quoted with a 3.3% loss at $81.55 per barrel. DJ30 -70.99 NASDAQ -15.24 SP500 -9.93 NASDAQ Adv/Vol/Dec 995/640 mln/1345 NYSE Adv/Vol/Dec 1345/245 mln/1550

12:00 pm : A recent flurry of selling has caused stocks to slip lower, but overall losses remain only modest. As a reminder, the bottom of the hour brings the highly anticipated FOMC policy statement. Trade is expected to become quite volatile with its release as market participants comb through the details and assess any new verbiabe or possible plans for further economic stimulus.DJ30 -23.69 NASDAQ -2.08 SP500 -3.21 NASDAQ Adv/Vol/Dec 1070/530 mln/1225 NYSE Adv/Vol/Dec 1430/205 mln/1410

11:30 am : Financials make up the best performing sector of the session. However, they're currently up only 0.2% as a group.

JPMorgan Chase (JPM 36.35, +0.97) is a standout in the Financial space, though. The stock's strength comes after it was learned that the company has exited from its losing position by some 65-70%. Discover Financial Services (DFS 33.74, +0.17) is also displaying strength in the wake of its latest quarterly report, which featured in-line earnings and guidance. As an aside, there have been a few analysts who have issued positive commentary following the company's report. DJ30 -8.40 NASDAQ +0.84 SP500 -1.88 NASDAQ Adv/Vol/Dec 1060/465 mln/1200 NYSE Adv/Vol/Dec 1445/185 mln/1370

11:00 am : The S&P 500 recently notched a session low, but its loss remains only modest in size. Swings in stock prices remain limited in scope as market participants display continued caution ahead of the FOMC policy statement this afternoon.

Commodities are experiencing much more exciting action. Selling interest in the space has sent the CRB Index down to a 1.1% loss after it had been down only fractionally a couple of hours ago.

As for the greenback, it is currently flat against a basket of major foreign currencies. DJ30 -17.22 NASDAQ -3.87 SP500 -3.31 NASDAQ Adv/Vol/Dec 970/350 mln/1255 NYSE Adv/Vol/Dec 1345/145 mln/1415

10:35 am : Crude oil prices were down to about $83.30 per barrel in the minutes that preceded the latest weekly inventory report, which showed a build of 2.86 million barrels when a draw of 1.30 million barrels had been broadly expected. Following news of the surprise inventory build oil prices pushed down below $83 per barrel, but are now up to $83.15 per barrel for a 1.4% loss.

Natural gas prices have come under pressure after trading up to about $2.68 per MMBtu in electronic trade early this morning. Prices now sit at $2.53 per MMBtu, which makes for a 0.7% loss.

Precious metals continue to grapple with selling pressure. Specifically, gold prices are down 1.3% to $1602 per ounce, but were down to almost $1595 per ounce a short time ago. Silver prices are presently down 0.9% to $28.13 per ounce, which is about $0.20 above the metal's session low. DJ30 -0.30 NASDAQ +1.82 SP500 -1.05 NASDAQ Adv/Vol/Dec 1010/240 mln/1135 NYSE Adv/Vol/Dec 1340/105 mln/1365

10:00 am : Treasuries have been ticking lower for the past couple of hours. That has lifted the yield on the benchmark 10-year Note to a little more than 1.65%, which puts it back near its 10-day high.

The action among Treasuries today likely has less to do with the stock market and more to do with expectations about what the Fed might have in store for providing economic stimulus. Many pundits predict that the Fed will merely expand "Operation Twist," which aims to keep interest rates low by selling Treasuries of shorter maturities and purchasing Treasuries of longer maturities. DJ30 -20.06 NASDAQ -1.15 SP500 -2.66 NASDAQ Adv/Vol/Dec 785/85 mln/1205 NYSE Adv/Vol/Dec 1155/55 mln/1440

09:45 am : The major equity averages are down narrowly this morning. The lackluster action comes as many market participants opt to play things cautiously ahead of the FOMC policy statement due later today.

Despite the interest in staying safe, defensive-oriented Consumer Staples stocks are down a sharp 0.7%. Most of that is owed to a precipitous drop in shares of Procter & Gamble (PG 59.99, -2.22) to a new 2012 low following the company's profit forecast cut. DJ30 -18.13 NASDAQ -3.51 SP500 -2.56 NASDAQ Adv/Vol/Dec NA/NA/NA NYSE Adv/Vol/Dec NA/NA/NA

09:15 am : S&P futures vs fair value: +1.80. Nasdaq futures vs fair value: +3.70. Stock futures are up narrowly over fair value with the open of the cash market only minutes away. The tepid bid comes as market participants prepare for the latest FOMC policy statement, forecast, and a press conference with Fed Chairman Bernanke. Although Spain's debt yields have eased down, abroad has been somewhat muted ahead of the announcements. There have been some corporate items of interest. Specifically, both Procter & Gamble (PG 61.05, -1.16) and Adobe (ADBE 30.69, -2.20) cut their forecasts, while a recent report suggests that JPMorgan Chase (JPM 36.00, +0.62) has exited some 65-70% of its losing trading position. Note: ticker quotes reflect premarket prices.

09:05 am : S&P futures vs fair value: +2.20. Nasdaq futures vs fair value: +3.00. Overall action in the commodity complex has the CRB Index down fractionally after it rallied more than 1% in the prior session. Crude oil prices are currently at $84.05 per barrel, which makes for a 0.4% loss, ahead of the latest weekly inventory report at 10:30 AM ET. However, natural gas prices have pushed up to $2.63 per MMBtu for a 3.5% gain. Precious metals are under pronounced pressure as gold conteds with a 1.1% loss at $1605 per ounce and silver wrestles with a 1.0% loss at $28.10 per ounce.

08:35 am : S&P futures vs fair value: +1.80. Nasdaq futures vs fair value: +3.70. A mixed mood in Europe has the region's major bourses mired near the neutral line. Despite another downtick in Spain's debt yields, participants there are also waiting for the latest US economic policy plans from the Fed, making for a cautious tone. Germany's DAX is currently up 0.3%. ThyssenKrupp, E.On AG, and Deutsche Telekom are among the stronger performers, while Henkel AG and Bayer both drag. France's CAC is currently down 0.2%. L'Oreal, Danone, LVMH Hennessy are down markedly, but their weakness has been partly offset by strength in Peugeot, Credit Agricole, and STMicroelectronics. Britain's FTSE presently sports a 0.5% gain amid leadership from Sage Group, Aviva, and ITV Plc. In contrast, Unilever, WM Morrison Supermarkets, and Vodafone (VOD 27.90, -0.14) have encountered selling pressure. Minutes from the most recent meeting among Bank of England members showed that some wanted to expand the asset purchase plan by 50 billion pounds.

Overnight action in Asia was generally positive, helping Japan's Nikkei put together a 1.1% gain. The Nikkei's advance was led by the likes of Nomura Holdings (NMR 3.50, +0.00), Nippon Sheet Glass, and Sony Corp (SNE 13.87, +0.31). Mitsubishi UFJ (MTU 4.61, +0.04) was also a top performer. Declining issues were limited in number, but Mitsubishi Heavy Industries and Sharp Corp both suffered rather steep losses amid strong gains by the broader market. As an aside, minutes from the most recent meeting of Japan's central bank indicated that they may be forced into action if Europe's problems persist. Hong Kong's Hang Seng scored a 0.5% gain in its latest round of trade. South Sea Petroleum Holding was among the strongest performers in both percentage gain and share volume. CST Mining and Nan Hai were both strong performers, while Boshiwa International Holding took a dive on high share volume. China 3D Digital Entertainment suffered a sharp loss, too. Mainland China's Shanghai Composite closed with a 0.3% loss. Anhui Wanwei scored a strong gain on heavy share volume. China Minsheng Banking also attracted strong buying interest. However, a broader interest in selling more than offset their positive influence. Sany Industry, Poly Real Estate, Inner Mongolia Baotou Steel, and Founder Securities were among the heavier drags.

Note: ticker quotes reflect US premarket prices.

08:05 am : S&P futures vs fair value: +2.30. Nasdaq futures vs fair value: +4.00. Stock futures have firmed up after trading lower earlier this morning, but the overall tone remains rather tepid after stocks climbed more than 3% during the course of the past four sessions. Market participants continue to await the highly anticipated FOMC policy statement at 12:30 PM ET. It will be followed by the Fed's latest economic forecast at 2:00 PM ET and a press conference with Fed Chairman Bernanke at 2:15 PM ET.

Treasuries have ticked only slightly lower ahead of the announcement, as has the dollar. However, gold prices are currently down about 0.8% to $1610 per ounce.

Corporate news flow is light ahead of the open, but Dow component Procter & Gamble (PG 60.69, -1.52) has come under pronounced premarket pressure after clipping its profit forecast. Adobe (ADBE 30.95, -1.94) also issued disappointing guidance, which has overshadowed an upside earnings surprise. Note: ticker quotes reflect premarket prices.

06:26 am : [BRIEFING.COM] S&P futures vs fair value: flat. Nasdaq futures vs fair value: -0.50.

06:26 am : Nikkei...8752.31...+96.40...+1.10%. Hang Seng...19518.85...+102.20...+0.50%.

06:26 am : FTSE...5595.65...+9.30...+0.20%. DAX...6373.83...+10.20...+0.20%.

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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