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 Post subject: September 14th Friday 2012 Emini TF ($TF_F) points +8.30
PostPosted: Fri Sep 14, 2012 7:04 pm 
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Joined: Sat Jan 10, 2009 1:06 pm
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)

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

Price Action Trade Performance for Today: +8.30 points or $830 dollars in the Russell 2000 Emini TF ($TF_F) Futures.
Russell 2000 Emini TF Futures - 1 tick or 0.10 = $10.00 dollars and there's more contract information @ The ICE.
S&P 500 Emini ES Futures - 1 tick or 0.25 = $12.50 dollars and there's more contract information @ CMEGroup.

In addition, all trades were posted real-time in the free #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=108&t=1321.

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)...regardless if I'm day trading, swing trading or position trading.

Image Price Action Analysis via 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 Trade Signal Strategies via 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=171&t=1594

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Market Summaries

The below summaries by Bloomberg, CNNMoney, Reuters 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 via WRB Analysis from one trade to the next trade to give me the market context before the appearance of my technical analysis trade signals. 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 (day trading, swing trading, position trading) and reactions to the markets...something I can not get from my broker statements alone.

U.S. Market Wrap

Sept. 14 (Bloomberg) -- Bloomberg's Ellen Braitman reports on the performance of the U.S. equity market today. U.S. stocks rose, after the Standard & Poor’s 500 Index climbed to its highest level since 2007, as markets rallied around the world on the Federal Reserve’s bond-purchase program.

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Market Update

4:15 pm : Today's session started on a positive note as stocks appeared poised for a second day of broad post-FOMC gains. However, the major averages marked their respective session highs during the first hour of trade and headed lower since. The Nasdaq was able to outperform as it held the bulk of its gains throughout the day. Afternoon selling pressure increased slightly after Egan Jones lowered the credit rating of the U.S. from ‘AA' to ‘AA-.‘ Looking at the major indices, the Nasdaq led the way with a 0.9% gain while the Dow and S&P 500 added 0.4% each.

Financial stocks continued to rally after yesterday's news. The SPDR Financial Select Sector ETF (XLF 16.28, +0.13) closed higher by 0.8% as most major names advanced. The ETF has seen a 4.0% rally since the Fed's announcement. Bank of America (BAC 9.55, +0.15), Morgan Stanley (MS 18.24, +0.34), and Wells Fargo (WFC 36.13, +0.58) all posted gains near 1.5%. European financials were also in focus as monetary easing in the U.S. carries global implications. Barclays (BCS 14.81, +0.46), Deutsche Bank (DB 44.28, +1.41), and UBS (UBS 13.48, +0.46) all gained near 3.5%.

Stocks within the defensive telecom space were lower as the sector underperformed the broader market. Verizon (VZ 44.53, -1.05) and AT&T (T 37.26, -0.89) both slid near 2.3%. The two telecom giants saw relative weakness after Stifel Nicolaus downgraded both stocks from ‘buy' to ‘hold.' With the majority of the sector sliding, Sprint (S 5.26, +0.06) and MetroPCS (PCS 10.63, +0.15) were able to buck the trend and post respective gains of 1.2% and 1.4%.

AK Steel (AKS 5.87, -0.57) slumped 8.9% after lowering its third quarter guidance on expectations of a 7% quarterly decrease in the price of steel. Following the announcement, AK Steel was downgraded by Credit Agricole. Other steelmakers continued to rally along with producers of basic materials. Steel Dynamics (STLD 13.01, +0.61) added 4.9%, while Cliffs Natural Resources (CLF 45.55, +2.37) advanced 5.5%.

Office supply retailer OfficeMax (OMX 8.15, +1.04) surged 14.6%. Earlier, the company confirmed it would extinguish a non-recourse liability which is related to Lehman-backed timber notes. Because of this, OMX will recognize a non-cash, pre-tax gain of $671.1 million in the third quarter. Today's buying lifted the stock to a 21.2% gain on the week. Meanwhile, peer Staples (SPLS 12.21, +0.25) advanced 2.1% following recent rumors of a possible private equity buyout.

Western Digital (WDC 41.06, -1.51) fell 3.6% after lowering its revenue guidance for the first quarter. Shares of the hard drive producer have been in a downtrend since the stock reached a 2-year high at $45.48 on August 17.

Social media stocks were on the rise. Facebook (FB 22.00, +1.28) jumped 6.2% following reports which suggested the company is set to introduce a real-time ad program. FB's peer Zynga (ZNGA 3.18, +0.22) surged 7.4% after the company hired an online-gambling executive, Maytal Olsha as its new Chief Operating Officer. Elsewhere, Groupon (GRPN 5.27, +0.51) soared 10.7% as the stock of the online deals site continues rebounding after reaching an all-time low of $4.00 on September 4.

A slew of economic data points hit the wires today.

Consumer prices increased by 0.6% during August, which was in-line with the 0.6% gain that had been generally expected. Core prices increased by 0.1%, which was slightly short of the 0.2% increase expected by economists polled by Briefing.com.

Separately, retail sales rose during August by 0.9%, which was better than the 0.7% increase that had been broadly expected. The prior month's reading was revised down to show an increase of 0.6%. Excluding autos, retail sales rose by 0.8%, which was in-line with the Briefing.com consensus call.

Industrial production decreased during August by 1.2%, which was worse than the 0.2% decrease that had been widely expected. The reading followed the revised 0.5% increase experienced in the prior month. Capacity utilization hit 78.2%, which was worse than the 79.2% that had been expected and down from the revised prior month reading of 79.2%.

The preliminary University of Michigan Survey for September came in at 79.2, which was ahead of the prior month's 74.3, and better than the reading of 73.5 that had been widely expected.

Lastly, monthly business inventory data for July showed an inventory build of 0.8% for the month which was slightly above the 0.4% that had been expected.

On Monday, the Empire Manufacturing Index will be released at 8:30 ET.

Week in Review: Focus Turns to Federal Reserve as QE3 is Launched

Monday's session was mostly uneventful, as the range-bound trading day concluded with a late-afternoon push to session lows. The major averages saw a notable divergence as the Dow slipped 0.4% while the S&P 500 and Nasdaq slid 0.6% and 1.0%, respectively. Airlines were stronger as United Continental (UAL 20.06, -0.03) advanced 1.8%.

On Tuesday, equities were broadly higher throughout the day before late afternoon selling sent the Nasdaq into negative territory. The dip also pushed the other indices lower, but they were able to hold most of their gains. The Dow finished higher by 0.5% while the Nasdaq ended flat. Groupon (GRPN 5.27, +0.51) finished higher by 8.0% after a reported increase in site traffic during the month of August.

On Wednesday, stocks started the day higher but were only able to hold a portion of their gains in a session which saw two pullbacks to the unchanged line. After spending most of the day in the black, the S&P 500 ended higher by 0.2%. The Dow Jones Transportation Average, which has been on a steady rise over the past week, added 0.8%.

Thursday's session was highlighted by a risk rally sparked by the Federal Reserve's decision to increase policy accommodations by purchasing additional agency mortgage-backed securities at a pace of $40 billion per month. The program is open-ended by design, which allows the Federal Reserve to terminate it once the employment picture shows substantial improvement. The S&P 500 was the best performing index and it settled higher by 1.6%. Financials rallied on the news and Bank of America (BAC 9.55, +0.15) led all majors with an advance of 4.8%.DJ30 +53.51 NASDAQ +28.12 SP500 +5.78 NASDAQ Adv/Vol/Dec 1616/1.94 bln/848 NYSE Adv/Vol/Dec 2104/899.8 mln/948

3:35 pm : A weaker dollar index and tension in the Middle East provided support to crude oil in today's pit trade. The energy component pulled-back off its pit session high of $100.00 per barrel set in morning action but stayed above the unchanged line. It settled the week 2.6% higher at $98.94 per barrel as action in previous sessions came mostly on weaker-than-anticipated inventory data and the launch of QE Infinity.

Natural gas continued yesterday's decline, dipping as low as $2.92 per MMBtu in morning action. Despite the fall and yesterday's bearish inventory data, it closed the week 9.7% higher at $2.94 per MMBtu.

Gold chopped around in positive territory for most of its pit session, extending gains following yesterday's announcement of the launch of a third round of quantitative easing. It touched a session high of $1778.40 per ounce and settled just below that level at $1772.80 per ounce for a 1.9% weekly gain. The yellow metal traded at six month highs this week, touching $1780.00 per ounce in overnight action.

Silver pulled-back slightly after yesterday's rally and spent most of its floor session in the red. Despite sliding to a session low of $34.32 per ounce in morning action, silver managed to book a 2.7% gain for the week as it closed at $34.64 per ounce.DJ30 +16.22 NASDAQ +23.55 SP500 +2.33 NASDAQ Adv/Vol/Dec 1620/1633.0 mln/845 NYSE Adv/Vol/Dec 2058/581 mln/991

3:00 pm : Equities continue to hold their levels as the Nasdaq outperforms, up 1.1%.

Social media stocks are on the rise. Facebook (FB 21.95, +1.24) is up 6.0% following reports which suggest the company is set to introduce a real-time ad program. FB's peer Zynga (ZNGA 3.23, +0.27) is surging 9.1% after the company hired an online-gambling executive, Maytal Olsha as its new Chief Operating Officer.

Elsewhere, Groupon (GRPN 5.16, +0.40) is higher by 8.4% as the stock of the online deals site rebounds after reaching an all-time low of $4.00 on September 4.DJ30 +47.66 NASDAQ +33.33 SP500 +6.73 NASDAQ Adv/Vol/Dec 1707/1.49 bln/764 NYSE Adv/Vol/Dec 2182/523.1 mln/866

2:30 pm : The major averages continue to hold their afternoon levels. The S&P 500 is up 0.4%

The euro has enjoyed a strong run after reaching multi-year lows on July 24. Since then, Central Bank action contributed to the bulk of a 1000 pip surge. On July 26, the euro jumped over 150 pips after European Central Bank President Mario Draghi promised to do ‘whatever it takes' to save the euro. The pledge was met with an early August announcement of the OMT program which sparked a 220 pip rally in the single currency. Following yesterday's launch of QE3, the euro has added another 200 pips as it now trades at 1.3110 versus the dollar. Note that the euro is now positive on the year after being down as much as 7.1% at its lowest point in late July.DJ30 +37.05 NASDAQ +29.69 SP500 +5.68 NASDAQ Adv/Vol/Dec 1688/1.39 bln/772 NYSE Adv/Vol/Dec 2162/487.9 mln/877

2:00 pm : The major averages continue seeing some selling pressure—likely due to profit taking—as the S&P 500 and Dow hover near their respective session lows.

Stocks within the defensive telecom space are lower as the sector underperforms the broader market. Verizon (VZ 44.56, -1.02) and AT&T (T 37.28, -0.87) are both down near 2.3%. The two telecom giants are seeing weakness after Stifel Nicolaus downgraded both stocks from ‘buy' to ‘hold.' With the majority of the sector sliding, Sprint (S 5.27, +0.07) and MetroPCS (PCS 10.65, +0.17) are able to buck the trend and post respective advances of 1.4% and 1.6%.DJ30 +41.91 NASDAQ +29.86 SP500 +6.20 NASDAQ Adv/Vol/Dec 1700/1.29 bln/751 NYSE Adv/Vol/Dec 2185/454.4 mln/828

1:30 pm : The major averages are slipping off their afternoon levels. The Nasdaq continues to outperform, up 0.9%. Meanwhile, the Dow is higher by 0.2% as it nears its session low.

Western Digital (WDC 41.12, -1.46) is down 3.4% after lowering its revenue guidance for the first quarter. Shares of the hard drive producer have been in a downtrend since the stock reached a 2-year high at $45.48 on August 17. Competitor Seagate (STX 30.10, -0.20) is lower by 0.7% as WDC revenue concerns spill over to the other major hard drive maker.DJ30 +17.04 NASDAQ +26.53 SP500 +3.44 NASDAQ Adv/Vol/Dec 1642/1.19 bln/791 NYSE Adv/Vol/Dec 2121/425.9 mln/885

1:00 pm : Stocks are adding to their gains following yesterday's announcement of the launch of a third round of quantitative easing. The major averages opened slightly higher and rose steadily during the first hour of trade. Looking at the major averages, the Nasdaq is advancing 1.2% as it outperforms and pushes to fresh session highs. Meanwhile, the S&P 500 and Dow marked their respective highs during the first hour, and have seen a bit of a pullback since.

Financial stocks are continuing to rally after yesterday's news. The SPDR Financial Select Sector ETF (XLF 16.32, +0.17) is higher by 1.1% as most major names are on the move. The ETF has seen a 4.0% rally since the Fed's announcement. Bank of America (BAC 9.60, +0.20), Morgan Stanley (MS 18.23, +0.33), and Wells Fargo (WFC 36.23, +0.68) are all up near 2.0%. European financials are also in focus as monetary easing in the U.S. carries global implications. Barclays (BCS 14.86, +0.51), Deutsche Bank (DB 44.34, +1.47), and UBS (UBS 13.46, +0.44) are all posting gains near 3.5%.

AK Steel (AKS 6.11, -0.32) is down 5.0% after lowering its third quarter guidance on expectations of a 7% quarterly decrease in the price of steel. Following the announcement, AK Steel was downgraded by Credit Agricole. Other steelmakers continue to rally along with producers of basic materials. Steel Dynamics (STLD 12.97, +0.57) is higher by 4.6%, while United States Steel (X 22.97, +0.63) is up 2.8%.

Airline stocks are under pressure as crude oil rises in reaction to the risk-on trade as well as escalating unrest in the Middle East. US Airways (LCC 10.62, -0.63) is sliding 5.6% while United Continental (UAL 19.87, -0.22) and China Eastern Airlines (CEA 15.23, -0.39) are down between 1.0% and 2.5%.

A slew of economic data points hit the wires today.

Consumer prices increased by 0.6% during August, which was in-line with the 0.6% gain that had been generally expected. Core prices increased by 0.1%, which was slightly short of the 0.2% increase expected by economists polled by Briefing.com.

Separately, retail sales rose during August by 0.9%, which was better than the 0.7% increase that had been broadly expected. The prior month's reading was revised down to show an increase of 0.6%. Excluding autos, retail sales rose by 0.8%, which was in-line with the Briefing.com consensus call.

Industrial production decreased during August by 1.2%, which was worse than the 0.2% decrease that had been widely expected. The reading followed the revised 0.5% increase experienced in the prior month. Capacity utilization hit 78.2%, which was worse than the 79.2% that had been expected and down from the revised prior month reading of 79.2%.

The preliminary University of Michigan Survey for September came in at 79.2, which was ahead of the prior month's 74.3, and better than the reading of 73.5 that had been widely expected.

Lastly, monthly business inventory data for July showed an inventory build of 0.8% for the month which was slightly above the 0.4% that had been expected.DJ30 +52.77 NASDAQ +35.83 SP500 +8.24 NASDAQ Adv/Vol/Dec 1702/1.10 bln/726 NYSE Adv/Vol/Dec 2197/395.8 mln/792

12:30 pm : Equities continue to trade in range bound fashion as the S&P 500 is up 0.7%.

Office supply retailer OfficeMax (OMX 7.99, +0.88) is surging 12.4%. Earlier, the company confirmed it would extinguish a non-recourse liability which is related to Lehman-backed timber notes. Because of this, OMX will recognize a non-cash, pre-tax gain of $671.1 million in the third quarter. Today's buying is lifting the stock to a 21.2% gain on the week. Meanwhile, peer Staples (SPLS 12.48, +0.52) is higher by 4.3% following recent rumors of a possible private equity buyout. Another office supplier, Office Depot (ODP 2.51, +0.15) is up 6.4%.DJ30 +70.42 NASDAQ 37.48 SP500 +10.00 NASDAQ Adv/Vol/Dec 1720/1.01 bln/700 NYSE Adv/Vol/Dec 2232/367.6 mln/746

12:00 pm : The major averages are showing some divergence as the Nasdaq trades higher by 1.0%, while the Dow is up 0.3%.

AK Steel (AKS 6.11, -0.33) is down 5.1% after lowering its third quarter guidance on expectations of a 7% quarterly decrease in the price of steel. Following the announcement, AKS was downgraded by Credit Agricole. Other steelmakers continue to rally along with other producers of materials. Steel Dynamics (STLD 12.87, +0.47) is higher by 3.8%, while United States Steel (X 22.87, +0.53) is up 2.4%.DJ30 +33.07 NASDAQ +29.40 SP500 +5.66 NASDAQ Adv/Vol/Dec 1683/912.2 mln/712 NYSE Adv/Vol/Dec 2190/336.6 mln/768

11:30 am : Equities are holding their recent levels as the S&P 500 is higher by 0.6%.

Airline stocks are under pressure as crude oil rises in reaction to the risk-on trade as well as escalating unrest in the Middle East. US Airways (LCC 10.55, -0.69) is sliding 6.2% while United Continental (UAL 19.70, -0.39) and China Eastern Airlines (CEA 15.23, -0.38) are both down near 2.0%.DJ30 +60.11 NASDAQ +32.71 SP500 +8.61 NASDAQ Adv/Vol/Dec 1690/793.4 mln/672 NYSE Adv/Vol/Dec 2230/299.1 mln/711

11:00 am : The major averages have slipped off their respective session highs but the S&P 500 remains up 0.6%.

Financial stocks are continuing to rally after yesterday's announcement of additional easing by the Federal Reserve. The SPDR Financial Select Sector ETF (XLF 16.30, +0.15) is higher by 0.9% as most major names are on the move. Bank of America (BAC 9.55, +0.15) and Morgan Stanley (MS 18.29, +0.39) are both up near 2.0%, while Wells Fargo (WFC 36.11, +0.56) is firmer by 1.6%.

European financials are also in focus as monetary easing in the U.S. carries global implications. Barclays (BCS 14.70, +0.35), Deutsche Bank (DB 44.29, +1.42), and UBS (UBS 13.49, +0.47) are all posting gains between 2.5% and 4.0%.DJ30 +62.18 NASDAQ +30.11 SP500 +8.48 NASDAQ Adv/Vol/Dec 1624/647.7 mln/700 NYSE Adv/Vol/Dec 2171/253.8 mln/741

10:35 am : The dollar index has been in the red all morning and just hit another new session low, giving a small boost to select commodities. Gold and silver got that boost while both were in negative territory.

Gold is now modestly higher, while silver is still in the red. Gold hit its current HoD at $1780.20 during the overnight session as silver hit its own HoD at $34.94. Dec gold is now -0.08% at $1770.470/oz and Dec silver is -0.9% at $34.47/oz.

Natural gas has simply been selling off this morning, falling back below the $3 level . However, given such strong gains earlier in the week, natural gas is still up 10% since last Friday, despite today's sharp losses. Nat gas is currently -3.0% at $2.95/MMBtu.

Crude oil broke above the $100 mark in early morning trade as Mid-East tensions helped put a bid on crude oil prices. Crude oil has basically been in an uptrend all week with Wednesday showing the worst performance on the week due to the bearish weekly crude oil inventory data. Crude has pulled back below the $100 mark and is now +1.3% at $99.55/barrel and is up 3.2% since last Friday's close.DJ30 +86.78 NASDAQ +33.60 SP500 +11.64 NASDAQ Adv/Vol/Dec 1703/517.9 mln/587 NYSE Adv/Vol/Dec 2286/212 mln/597

10:00 am : Stocks continue to push higher in the early going as the S&P 500 is up 0.5%.

The preliminary University of Michigan Survey for September came in at 79.2, which is up from the 74.3 that was posted in the prior month, and better than the reading of 73.5 that had been widely expected.

In addition, monthly business inventory data for July was just released. Inventories were up 0.8% for the month which is slightly above the 0.4% that had been expected.DJ30 +68.72 NASDAQ +26.61 SP500 +8.34 NASDAQ Adv/Vol/Dec 1541/289.2 mln/655 NYSE Adv/Vol/Dec 2149/146.9 mln/658

09:45 am : Equities are seeing an extension of yesterday's bullish sentiment as the S&P is higher by 0.5%.

Energy, financials and materials are seeing the biggest gains so far. The three sectors are all up near 1.0%. Meanwhile, Telecoms, utilities, health care, and consumer staples are all lower in the early going.

Starting on September 24, UnitedHealth Group (UNH 54.71, +0.82) will replace Kraft (KFT 39.76, -0.37) in the Dow Jones index. Shares of UNH are up 1.5% while KFT is lower by 0.9% following the announcement. The change was said to be prompted by Kraft's plan to spin-off its North American grocery business in October.

The Michigan Sentiment and business inventories will be reported at 10:00 ET.DJ30 +65.19 NASDAQ +21.30 SP500 +7.36 NASDAQ Adv/Vol/Dec 1430/171.3 mln/730 NYSE Adv/Vol/Dec 2115/112.5 mln/660

09:17 am : [BRIEFING.COM] S&P futures vs fair value: +1.40. Nasdaq futures vs fair value: +7.30. Heading into the open, equity futures remain slightly elevated. The S&P 500 futures are up 0.3%.

Just released, industrial production decreased during August by 1.2%, which is worse than the 0.2% decrease that had been widely expected. The reading follows the revised 0.5% increase experienced in the prior month. Capacity utilization hit 78.2%, which is worse than the 79.2% that had been widely expected and down from the revised prior month reading of 79.2%.

09:01 am : [BRIEFING.COM] S&P futures vs fair value: +1.10. Nasdaq futures vs fair value: +6.50. U.S. equity futures have slipped off their pre-market highs, but they continue pointing to modest gains at open.

It was a sea of green across Asia as all of the major averages finished with strong gains following the Fed's announcement of QE3. Hong Kong, India, Indonesia, South Korea, and Taiwan all saw gains in excess of 2.0% as buyers piled in while Chinese shares underperformed with a 0.6% advance. The People's Bank of China was out overnight suggesting the Fed's actions may spark global inflation. Meanwhile, rumors pointed to Japanese officials checking exchange rates, which has some thinking the Bank of Japan may soon intervene in the yen. Data out overnight showed India's Wholesale Price Index climb to 7.6% year-over-year while a 7.0% reading was expected. In addition, industrial production in the Philippines climbed 4.6% on a yearly basis, against expectations of a 4.9% rise.

Japan's Nikkei added 1.8% to end at its best level in three weeks. Electronics maker Hitachi gained 4.6% after announcing it would increase its dividend by 66.6%. Elsewhere, investment bank Nomura Holdings rallied 4.2% after announcing restructuring at its U.S. equities division.

In Hong Kong, the Hang Seng settled higher by 2.9% to finish at a four-month high. Metals and real estate names were the top performers during today's session. Aluminum maker Chalco surged 9.1% and Zijin Mining jumped 11.4% to lead the advance in the metals space. Meanwhile, Sun Hung Kai Properties climbed 4.4% after its earnings topped forecasts.

China's Shanghai Composite tacked on 0.6% as inflation worries put a lid on gains. Gold miners saw a strong advance as Shandong Gold Mining rallied 5.3% and Zhongjin Gold surged 6.7%.

In Europe, data was limited to just two points. Eurozone employment remained unchanged over the past quarter while a CPI reading of 2.6% year-over-year was in-line with expectations. In Spain, the debate continues over the need for a full ECB bailout. Regional markets are broadly higher after the latest round of stimulus was announced yesterday.

In France, the CAC is higher by 2.1% as industrial names lead the index. ArcelorMittal is surging 8.7% and Vallourec is up 6.1%. Only two stocks in the index are lower on the session. Consumer names, L'Oreal and Cie Generale d'Optique Essilor are both down near 1.0%.

In the UK, the FTSE is up 1.6% as miners dominate the session. Kazakhmys, Vedanta Resources, Evraz, and Fresnillo are all surging between 10.0% and 14.5%. Consumer stocks are missing out on the rally as GlaxoSmithKline and Diageo are slipping 1.6% and 1.0%, respectively.

Germany's DAX is firmer by 1.4% as industrial stocks and car makers make the biggest advances. ThyssenKrupp is jumping 5.7% while Volkswagen, BMW, and Daimler are all up between 2.0% and 4.2%. Consumer stocks are also weaker with Fresenius Medical and Henkel both down near 3.0%.

08:33 am : [BRIEFING.COM] S&P futures vs fair value: +2.80. Nasdaq futures vs fair value: +10.50. U.S. equity futures are higher by 0.4% following the release of CPI data.

Consumer prices increased by 0.6% during August, which is in-line with the 0.6% gain that had been generally expected. Core prices increased by 0.1%, which was slightly short of the 0.2% increase expected by economists polled by Briefing.com.

Separately, Retail sales rose during August by 0.9%, which is better than the 0.7% increase that had been broadly expected. The prior month's reading was revised down to show an increase of 0.6%. Excluding autos, retail sales rose by 0.8%, which matches the Briefing.com consensus call for a rise of 0.8%.

08:02 am : [BRIEFING.COM] S&P futures vs fair value: +3.20. Nasdaq futures vs fair value: +10.50. U.S. equity futures are higher by 0.4% as global investors react to the Federal Reserve's launch of the third installment of quantitative easing, also known as QE3.

The global markets are on the rise in response to the Fed's decision to purchase additional agency mortgage backed securities at a rate of $40 billion per month. The move was met with reaction from central bankers and officials around the world. The Hong Kong Monetary Authority head warned that the latest stimulus puts the risk of property bubble in the Hong Kong housing market at a greater level. Meanwhile, People's Bank of China deputy warned that QE3 could spark global inflation. Elsewhere in Asia, Japan lowered its assessment of the economy for the 2nd straight month, while reducing its outlook on industrial production and consumption. The stimulus put the Bank of Japan on the defense, as it needs to deal with the appreciation of the yen. Reports had the BoJ checking rates following the Federal Open Market Committee release, which implies it may be looking into another intervention in the currency market. Tensions between Japan and China regenerated as an emergency meeting was summoned by Prime Minister Noda, lodging a formal protest against China after two patrol boats entered disputed waters near the Senkaku Islands. The Asian indices finished firmly higher as Hong Kong's Hang Seng added 2.9%, Japan's Nikkei advanced 1.8%, and China's Shanghai Composite tacked on 0.6%.

In Europe, data was limited to just two points. Eurozone employment remained unchanged over the past quarter while a CPI reading of 2.6% year-over-year was in-line with expectations. In Spain, the debate continues over the need for a full ECB bailout. Nearing midday, France's CAC is up 2.1%, UK's FTSE is higher by 1.7%, and Germany's DAX is adding 1.5%.

Unrest in the Middle East has escalated as protesters clash with police in Egypt. The increased tensions, along with the risk-on trade in the wake of QE3, have oil moving higher by 1.5% this morning. Crude oil futures are currently +1.38 at $99.72 after trading above $100 earlier this morning.

In U.S. corporate news, medical technology provider Analogic (ALOG 76.75, +7.55) is higher by 11.0% after beating on earnings and revenues. The company's positive outlook also contributed to two upgrades announced after the earnings release. The Benchmark Company raised their target on ALOG to $90, while Needham upgraded the stock from ‘hold' to ‘buy' with an $85 target.

Miners Randgold Resources (GOLD 120.26, +5.91) and Rio Tinto (RIO 53.82, +2.55) are both up near 5.0% as precious metals and related stocks garner interest following the Fed's announcement of more quantitative easing.

Today's economic calendar contains a full slate of releases. Retail sales, retail sales ex-auto, CPI, and core CPI will all be announced at 8:30 ET. Industrial production and capacity utilization will hit the wires at 9:15 ET, while the Michigan Sentiment and business inventories will be released at 9:55 ET and 10:00 ET, respectively.

06:26 am : [BRIEFING.COM] S&P futures vs fair value: +4.50. Nasdaq futures vs fair value: +13.50.

06:26 am : Nikkei...9159.39...+164.20...+1.80%. Hang Seng...20629.78...+582.20...+2.90%.

06:26 am : FTSE...5905.52...+85.60...+1.50%. DAX...7413.42...+103.10...+1.40%.

Special thanks to Bloomberg, CNNMoney, Reuters 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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