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 Post subject: August 6th Monday 2012 Emini TF ($TF_F) points +8.00
PostPosted: Mon Aug 06, 2012 7:01 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)

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

Price Action Trade Performance for Today: +8.00 points or $800 dollars in the Russell 2000 Emini TF ($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 #TheStrategyLab chat room. You can read today's #TheStrategyLab 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=107&t=1290.

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=167&t=1561

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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 (e.g. Eurozone, MarketWatch.com) that had an impact on today's price action. Simply, I'm a strong believer that key market events causes key changes in supply/demand and volatility resulting in trade opportunities (swing points and strong continuation price actions) that reach profit targets. 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. Therefore, I maintain these archives to allow me to understand what was happening on any given trading day in the past involving key market events to help better understand my trading and reactions to the markets...something I can not get from my broker statements alone.

Stocks Close Higher

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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 higher Monday, despite retreating from the day's highs, as investors continued to cheer an upbeat jobs report and welcomed lower borrowing costs in Spain and Italy.

The Dow Jones industrial average added 21 points, or 0.2%. The S&P 500 also closed 0.2% higher, while the Nasdaq gained 0.8%. The gains extended Friday's rally sparked by a stronger-than-expected July jobs report.

With no other reports due on the economy Monday, investors continued to monitor Europe's debt crisis, and were relieved to see yields on Spanish and Italian bonds declined further on Monday.

Paul Powers, head of U.S. equity trading at Raymond James, said it's a relief to finally see a quiet Monday. Overall, he said, investors are much more optimistic than they have been in weeks.

While many bellwether companies have already reported second quarter results, investors are still watching corporate results for signs of a slowdown or alternately signs of life among consumers.

Shares of Chesapeake Energy (CHK, Fortune 500), which has been in the spotlight amid takeover chatter and a management shakeup, rose in after hours trading, folowing the release of its second quarter results after the closing bell.

Fear & Greed Index

Other earnings due later in the week include Disney (DIS, Fortune 500), News Corp (NWSA, Fortune 500) and J.C. Penney (JCP, Fortune 500).

Meanwhile, Wall Street kept close tabs on Knight Capital Group. The firm said Monday that a group of investors have agreed to buy $400 million in convertible preferred stock of the company. The investors include TD Ameritrade (AMTD), Blackstone Group (BX), Getco, Stifel Financial (SF), Jefferies Group (JEF) and Stephens Inc.

The announcement came as Knight (KCG) faces a $440 million loss from a software glitch that triggered a series of bizarre moves in otherwise thinly traded stocks last Wednesday, affecting how shares for some 150 NYSE-listed stocks were routed.

* Why Knight won't be the only one

But the new investors get a majority stake in Knight, diluting the value for existing shareholders. Knight's stock plunged nearly 25% on the news.

U.S. stocks rallied Friday as a stronger-than-expected July jobs report helped lift markets for the week.

World markets: European stocks closed higher. Britain's FTSE 100 ticked up 0.4%, while the DAX in Germany and France's CAC 40 added 0.8%. Spain's IBEX ended higher, despite a glitch that halted trading on the exchange for five hours.

Asian markets rallied, as investors cheered the better-than-expected U.S. jobs report from last Friday. The Shanghai Composite rose 1%, the Hang Seng in Hong Kong climbed 1.7%, and Japan's Nikkei surged 2%.

Companies: Best Buy's (BBY, Fortune 500) stock surged Monday after the company's founder and major shareholder, Richard Schulze, offered to take the electronics retailer private at $24 to $26 a share, a 36% to 47% premium.

Still even with the rally, its stock closed below $20, well below the offer price. Investors appeared to be wary of whether its founder could secure enough financing. Standard & Poor's also cut Best Buy's credit rating to junk status.

Shares of Tyson Foods (TSN, Fortune 500) fell after the seller of chicken, beef and other prepared foods posted earnings and revenue that fell short of Wall Street's expectations.

The company also highlighted the rising price of grain amid the ongoing drought. While Tyson said it ultimately expects to pass along the higher costs, it also cautioned that they will likely pressure earnings in 2013.

Late Friday, Warren Buffett's Berkshire Hathaway (BRKB) reported a drop in earnings due to derivatives losses, but posted strong gains in its insurance business. Class A (BRKA, Fortune 500) and Class B (BRKB) shares of Berkshire were slightly higher.

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

Oil for September delivery gained 80 cents to $92.20 a barrel.

Gold futures for August delivery added $6.90 to $1,612.90 an ounce.

Bonds: The price on the benchmark 10-year U.S. Treasury rose, pushing the yield down to 1.56% from 1.58% late Friday.

Sunday marked the one-year anniversary of Standard and Poor's downgrade of the U.S. credit rating from AAA.

* U.S. still AAA to investors

Despite S&P's blow, yields on U.S. government debt across all maturities have hit record lows in the post-AAA world as investors' enthusiasm for Treasuries intensified amid a tepid U.S. economic recovery, a growing European debt crisis, and slowing growth in emerging markets -- particularly China.

In recent weeks, the yield on the 10-year Treasury note has fallen to a record low around 1.4% from 2.6% a year ago. The 30-year yield has dropped to less than 2.5% from almost 4% last August. As investors buy Treasuries and drive up the price, yields continue to decline.

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Market Update

4:20 pm : The advances made by U.S. equities during the first 30 minutes held through most of the day as thin volume and lack of economic data contributed to a lackluster trading day. As the session entered its final minutes, stocks came off highs and finished near the bottom of the day's range. The S&P 500 ended higher by 0.2%.

Asian markets closed considerably higher following Friday's positive U.S. nonfarm payroll report. Japan's Nikkei gained 2.0%, Hong Kong's Hang Seng rose 1.7%, while shares in Shanghai advanced 1.4%.

In Europe, Spain's IBEX finished 4.4% higher after trading was halted for nearly 5 hours due to a technical issue. Other European indices posted more modest gains with France's CAC and Germany's DAX both rising by 0.8%, while UK's FTSE advanced 0.4%.

The Nasdaq outperformed other indices and ended higher by 0.7%. The above-average gains were driven by multiple companies posting double digit percent gains.

Pluristem Therapeutics (PSTI 3.80, +0.49) was 14.8% higher after reporting that the company's treatment has been able to save the life of a patient exhibiting bone marrow failure.

Online gaming developer Changyou.com (CYOU 23.00, +3.63) gained 18.7% after beating its earnings and revenue forecast.

Knight Capital Group (KCG 3.07, -0.98) has bounced off lows but ended the session down 24.2% after this morning's news indicated the company had raised $400 million through the sale of preferred, convertible stock.

With gains of 1.1%, the Materials sector was the best performer today. United States Steel (X 22.94, +1.22) was the best performer within the group and ended higher by 5.6%. In addition, Newmont Mining (NEM 46.12, +1.45) and Freeport-McMoRan (FCX 34.34, +0.84) were up 3.3% and 2.5% respectively.

Down 0.3%, utilities were the biggest laggard in the S&P 500. Within the space, Exelon (EXC 38.06, -0.41) shed 1.1% while Duke Energy (DUK 68.21, -0.39) was off by 0.6%.

The dollar index ended off by 0.1% as the performance of major currencies against the greenback has been mixed. At 78.22, the Japanese Yen was up 0.3% against the dollar. The euro has come off session highs at 1.2425 and it currently trades near 1.2395. The common currency advanced 0.1% against the U.S. dollar.

The 10-yr yield on U.S. Treasuries has declined 2 basis points, to 1.56%.

Nearly 70 companies are scheduled to release their quarterly results after today's closing bell. Some notable names include Caribou Coffee (CBOU 10.95, -0.50), Chesapeake Energy (CHK 17.68, -0.21), Plantronics (PLT 33.47, +0.27), and Leap Wireless (LEAP 5.52, +0.30).

In addition, almost 80 firms will report before tomorrow's open. Cablevision (CVC 15.83, +0.29), CVS Caremark (CVS 44.90, +0.15), Fossil (FOSL 69.79, +1.36), MGM Resorts (MGM 9.38, +0.12), and Office Depot (ODP 1.74, -0.04) are some stocks which bear watching. Tomorrow's economic data is limited to consumer credit, due out at 3 PM ET.DJ30 +21.34 NASDAQ +22.01 SP500 +3.24 NASDAQ Adv/Vol/Dec 1522/1.49 bln/927 NYSE Adv/Vol/Dec 1892/647.2 mln/1124

3:35 pm : Crude oil popped into positive territory following rumors suggesting that Syria's Assad was killed or injured in a blast. However, headlines crossed that Russian Interior Minister denied issuing the tweet. It is worth noting that a story from Reuters on Friday discussed how its Twitter feed had been hacked so we would be a cautious of odd tweets in the coming days. The energy component continued to climb higher as it also got a boost from a weaker dollar. It settled floor trade 1.0% higher at $92.30, or just below its session high of $92.38 per barrel.

Natural gas slid to a pit session low of $2.82 per MMBtu in morning action but found buying support soon after. It trended in an upward pattern for the remainder of its floor session and settled 1.0% higher at $2.91 per MMBtu. Precious metals extended Friday's gains as the weaker dollar gave them a boost.

Gold came off its pit session low of $1608.30 per ounce and traded up to a session high of $1618.40 per ounce by late morning. It pulled-back slightly in afternoon action but still managed to close 0.4% higher at $1616.00 per ounce. Silver touched a session low of $27.61 per ounce moments after pit trade opened but climbed out of negative territory in late morning action. It brushed a session high of $27.95 per ounce and settled just below that level at $27.87 per ounce with a gain of 0.3%.DJ30 70.42 NASDAQ 29.45 SP500 7.08 NASDAQ Adv/Vol/Dec 1634/1189.8 mln/824 NYSE Adv/Vol/Dec 2027/417 mln/956

3:00 pm : Stocks are holding their gains into the final hour of the session. The S&P 500 is up 0.6%.

Off by 0.1%, the dollar index is slightly lower as the performance of major currencies against the greenback has been mixed. At 78.22, the Japanese Yen is up 0.3% against the dollar. The euro has come off session highs at 1.2425 and it currently trades near 1.2390. The common currency is essentially unchanged against the U.S. dollar.DJ30 +75.91 NASDAQ +30.69 SP500 +7.63 NASDAQ Adv/Vol/Dec 1678/1.08 bln/777 NYSE Adv/Vol/Dec 2039/378.3 mln/940

2:30 pm : Going into the final 90 minutes of the trading day, stocks are maintaining their levels just below session highs. The Nasdaq is up 1.0% while the Dow and the S&P 500 are higher by 0.6% each.

Nearly 70 companies are scheduled to release their quarterly results after today's closing bell. Some notable names include Caribou Coffee (CBOU 11.44, -0.01), Chesapeake Energy (CHK 17.85, -0.04), Plantronics (PLT 33.50, +0.30), and Leap Wireless (LEAP 5.54, +0.32).

In addition, almost 80 firms will report before tomorrow's open. Cablevision (CVC 15.80, +0.26), CVS Caremark (CVS 44.96, +0.21), Fossil (FOSL 69.50, +1.07), MGM Resorts (MGM 9.35, +0.09), and Office Depot (ODP 1.77, -0.01) are some stocks which bear watching.DJ30 +73.03 NASDAQ +31.48 SP500 +7.55 NASDAQ Adv/Vol/Dec 1690/989.9 mln/751 NYSE Adv/Vol/Dec 2043/347.5 mln/934

2:00 pm : As thin volume persists, stocks hover near the top end of today's range. Up 1.0%, the Nasdaq is the best performing index.

Multiple companies within the Nasdaq are posting double-digit percent gains.

Pluristem Therapeutics (PSTI 3.99, +0.67) is 20.5% higher after reporting that the company's treatment has been able to save the life of a patient exhibiting bone marrow failure.

Wireless communication provider NII Holdings (NIHD 8.27, +1.47) is up 21.6% ahead of its earnings release tomorrow morning.

Online gaming developer Changyou.com (CYOU 22.67, +3.30) is higher by 17.1% after beating its earnings and revenue forecast.DJ30 +67.73 NASDAQ +29.50 SP500 +7.17 NASDAQ Adv/Vol/Dec 1669/908.1 mln/755 NYSE Adv/Vol/Dec 2012/319.4 mln/937

1:30 pm : Equities hover just below session highs. Up 0.6%, the S&P 500 is making repeated attempts at pushing past the 1,400 level.

The 10-yr yield on U.S. Treasuries has declined 4 basis points, to 1.54%.DJ30 +83.10 NASDAQ +31.63 SP500 +8.45 NASDAQ Adv/Vol/Dec 1718/827.1 mln/704 NYSE Adv/Vol/Dec 2061/294.3 mln/882

1:00 pm : Equities are holding their gains from the early part of the day. The Nasdaq is up 1.1% while the S&P 500 is higher by 0.6%. Low volume and a lack of economic news are contributing to an uneventful session.

Knight Capital Group (KCG 3.20, -0.85) has bounced off lows but remains down 21.0% after this morning's news that the company had raised $400 million through the sale of preferred, convertible stock.

Materials producers are showing strength across the board. Up 1.1%, the sector is posting the biggest gains of the session. United States Steel (X 23.01, +1.29) is the best performer within the group and trades higher by 6.0%. Additionally, Newmont Mining (NEM 46.60, +1.94) and Freeport-McMoRan (FCX 34.54, +1.05) are up 4.4% and 3.1% respectively.

Financials are some of the strongest performers today. Barclays (BCS 11.04, +0.37) is up 3.5% while Citigroup (C 28.48, +1.08) is higher by 3.9%.

Currently down 0.3%, utilities are the worst performing S&P 500 sector. Within the space, Exelon (EXC 38.12, -0.35) is down 0.9% while Duke Energy (DUK 68.21, -0.39) is off by 0.6%.

Cognizant (CTSH 64.46, +6.60) is up 11.4% after beating earnings and revenue forecasts.

Tyson Foods (TSN 14.63, -0.77) is lower by 5.0% after missing earnings estimates and issuing a cautious full-year outlook.DJ30 +81.89 NASDAQ +31.99 SP500 +8.27 NASDAQ Adv/Vol/Dec 1717/757.7 mln/674 NYSE Adv/Vol/Dec 2068/271.9 mln/870

12:30 pm : Equities remain range bound as the S&P 500 is up 0.5%. The Nasdaq continues outperforming with a 0.9% advance.

Materials producers are showing strength across the board. Up 1.1%, the sector is posting the biggest gains of the session. United States Steel (X 22.94, +1.22) is the best performer within the group and trades higher by 5.6%. In addition, Newmont Mining (NEM 46.49, +1.82) and Freeport-McMoRan (FCX 34.45, +0.95) are up 4.1% and 2.8% respectively.DJ30 +70.42 NASDAQ +27.08 SP500 +6.68 NASDAQ Adv/Vol/Dec 1721/674.4 mln/669 NYSE Adv/Vol/Dec 2013/248.1 mln/912

12:05 pm : Up 0.5%, the S&P 500 remains within a tight range.

Currently down 0.3%, utilities are the worst performing S&P 500 sector. Within the space, Exelon (EXC 38.12, -0.35) is down 0.9% while Duke Energy (DUK 68.21, -0.39) is off by 0.6%.DJ30 +74.17 NASDAQ +26.94 SP500 +6.84 NASDAQ Adv/Vol/Dec 1690/603.8 mln/686 NYSE Adv/Vol/Dec 1994/226.1 mln/919

11:30 am : The S&P 500 is probing the bottom of the midday range as low volume persists. The index remains up 0.4%.

Retailers Target (TGT 62.56, +0.20) and Foot Locker (FL 33.94, +0.02) have reached notable levels this morning. Target marked a fresh 52-week high at $62.86 while Foot Locker has pushed to an all-time best of $33.95. Target is up 0.3% while Foot Locker is now unchanged on the day.DJ30 +73.94 NASDAQ +24.44 SP500 +6.50 NASDAQ Adv/Vol/Dec 1688/524.3 mln/689 NYSE Adv/Vol/Dec 1972/201.4 mln/901

11:00 am : Equities are holding near session highs. The S&P 500 is up 0.6% and hovering just below 1,400 while the Nasdaq outperforms. The tech-heavy index is up 0.8%.

Chinese online media companies Youku (YOKU 17.53, +1.16) and Sohu.com (SOHU 39.51, +4.81) are trading higher following their earnings reports. Youku, up 7.1%, beat on earnings but missed their revenue expectations. Sohu.com is 13.9% higher after posting mixed results.DJ30 +83.48 NASDAQ +23.77 SP500 +7.80 NASDAQ Adv/Vol/Dec 1671/415.5 mln/637 NYSE Adv/Vol/Dec 2070/163.4 mln/773

10:35 am : The dollar index has been trending lower this morning, which initially gave only select commodities a small boost.

In the energy space, Sept crude oil has been chopping around in negative territory this morning, but just spiked about $0.60 higher and just hit a new HoD of $91.64/barrel. Crude is now +0.3% at $91.67/barrel. Sept natural gas spent my morning in the red but gained steam around 7am ET and rallied 3.2% (or 9 cents) to its current HoD of $2.89/MMBtu. In current action, natural gas is -1.2% at $2.84/MMBtu.

In metals, August gold and Sept silver are mixed this morning with gold near session highs and silver near the unchanged line. Gold just hit a new session high of $1615.30 and is now trading up 0.4% at $1615.20/oz and silver is down 0.02% at $27.80/oz. July copper is trading higher this morning, now down +0.2% at $3.38/lb.DJ30 +87.33 NASDAQ +23.61 SP500 +8.19 NASDAQ Adv/Vol/Dec 1644/347 mln/623 NYSE Adv/Vol/Dec 2128/725.4 mln/725

10:00 am : Equities are pushing to new session highs as the S&P 500 trades 0.5% higher.

Financial stocks are showing strength early on. Barclays (BCS 11.15, +0.48) is up 4.5% while Morgan Stanley (MS 14.08, +0.29) is higher by 2.2%.

Knight Capital Group (KCG 3.02, -1.03) has bounced off lows but remains down 25.2% after this morning's financing news.DJ30 +70.50 NASDAQ +17.32 SP500 +6.95 NASDAQ Adv/Vol/Dec 1506/178.2 mln/683 NYSE Adv/Vol/Dec 2014/87.53 mln/725

09:45 am : Equities are adding to their gains through the early part of the session. The S&P 500 is up 0.5%.

Financials, industrials, and technology stocks are some of the top performers so far. Financials are up 0.7% while industrials and technology are both higher by 0.5%.

The euro has rallied off session lows at 1.2345 against the dollar. The single currency has gained 50 pips and is now near 1.2395.DJ30 +61.41 NASDAQ +16.15 SP500 +6.41 NASDAQ Adv/Vol/Dec 1427/101.1 mln/699 NYSE Adv/Vol/Dec 1986/62.6 mln/695

09:15 am : S&P futures vs fair value: +4.80. Nasdaq futures vs fair value: +11.50. Heading into the open, equity futures indicate a slightly higher open. The S&P 500 futures are up 0.2%.

Cognizant (CTSH 64.19, +6.41), Tyson Foods (TSN 15.20, -0.20), and Youku (YOKU 17.15, +0.78) bear watching after reporting earnings this morning.

09:00 am : [BRIEFING.COM] S&P futures vs fair value: +4.70. Nasdaq futures vs fair value: +11.50. U.S. equity futures hold below pre-market highs ahead of open. The S&P 500 futures are up nearly 0.2% while the Nasdaq futures are higher by 0.4%.

Shares of Best Buy (BBY 21.80, +4.16) are soaring 23.6% this morning after founder Richard Schulze submitted a proposal to acquire the outstanding shares of the retailer for $24.00 to $26.00 per share. The reported offer would place the company's value at about $8.5 billion.

08:30 am : [BRIEFING.COM] S&P futures vs fair value: +4.60. Nasdaq futures vs fair value: +10.50. U.S. futures have come off pre-market highs, but are still pointing to a modestly higher open. The S&P 500 futures are 0.2% up.

Asian markets posted strong gains on Monday following a positive U.S. nonfarm payroll report. With little additional economic data in the region, local indices maintained their gains from the start of the session. Japan's Nikkei gained 2.0%, Hong Kong's Hang Seng rose 1.7% while shares in Shanghai advanced 1.4%.

In Japan, carmakers continued showing strength with Isuzu Motors and Mazda Motor gaining 6.4% and 5.6% respectively. Vehicle producers have been one of the top performers during last week's market rally.

In Hong Kong, Esprit Holdings was today's best performer. The apparel producer with heavy European exposure gained 6.4%. Only two stocks listed on the Hang Seng posted declines on the day. Power Assets Holdings and China Resources Power Holdings shed 1.2% and 0.8% respectively.

The Shanghai stock exchange saw biggest advances in producers of raw materials as Xiamen Tungsten and Inner Mongolian Baotou Steel Union both soared 10.0%. Airlines were the biggest laggards on the session with China Eastern Airline down 1.7% and Air China off 1.4%.

European shares are also higher this morning. France's CAC and Germany's DAX are up 0.7% each, while UK'S FTSE is up 0.3%.

Carmakers and financials are some of the best performers in Paris. Peugeot and Renault are up 5.1% and 3.3% respectively, while BNP Paribas is 4.9% higher.

In Germany, steelmaker ThyssenKrupp is leading the way, up 2.8%. BMW and Volkswagen are higher by 2.7%, and 1.8% respectively.

Shares in London are posting modest advances with steelmaker Evraz higher by 3.8% while Barclays is posting a 3.0% advance.

07:59 am : [BRIEFING.COM] S&P futures vs fair value: +5.70. Nasdaq futures vs fair value: +12.80. The S&P 500 futures are higher by 0.3%.

Friday's bid has continued into the early part of the global session. Better-than-expected U.S. nonfarm payrolls supported a strong open in Asian markets. The strength was sustained throughout the session as commentary out of the People's Bank of China also gave the markets a boost. The Central Bank suggested it would take monetary policy up a notch in the back half of the year and vowed to bolster the economy with improved credit. It also sees a broader use of currency in cross-border trade and investing. Japan's Nikkei gained 2.0%, Hong Kong's Hang Seng rose 1.7% while shares in Shanghai advanced 1.4%.

European markets are modestly higher this morning. Over the weekend, news reports suggested the Troika seems content with Greece's current progress. France's CAC is 0.7% up while Germany's DAX trades 0.6% higher.

A handful of companies reported their earnings before today's market open.

Cognizant (CTSH 61.97, +4.11) is 7.1% up ahead of the open after the company exceeded earnings and revenue expectations. CTSH also raised their full-year forecast.

Tyson Foods (TSN 15.00, -0.40) is 2.6% lower after missing earnings and revenue expectations. The company also lowered their full-year outlook slightly below consensus.

Pluristem Therapeutics (PSTI 4.06, +0.77) is 23.4% higher in pre-market action after reporting that the company's treatment has been able to save the life of a patient exhibiting bone marrow failure.

Knight Capital Group (KCG 2.88, -1.17) confirmed weekend reports that it will raise $400 million in convertible preferred stock. The preferred stock will be convertible into approximately 267 million shares of common stock of the company, and the transaction is expected to be consummated later this morning. KCG is down 28.9% this morning.

There is no economic data scheduled for release today but Federal Reserve Chairman Ben Bernanke will speak at 9 AM ET.

Treasury will auction 3- and 6-mo bills.

06:48 am : [BRIEFING.COM] S&P futures vs fair value: +4.00. Nasdaq futures vs fair value: +12.00.

06:48 am : Nikkei...8726.29...+171.20...+2.00%. Hang Seng...19998.72...+332.50...+1.70%.

06:48 am : FTSE...5798.33...+11.10...+0.20%. DAX...6907.97...+43.00...+0.60%.

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 and http://stocktwits.com/wrbtrader

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