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 Post subject: November 6th Tuesday TF, 6E & CL Futures $680
PostPosted: Tue Nov 06, 2012 8:50 pm 
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Joined: Sat Jan 10, 2009 1:06 pm
Posts: 3183
Location: Canada
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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: Emini TF ($TF_F) futures @ $370.00 dollars or +3.70 points, EuroFX 6E futures @ $0.00 dollars or +0.0000 ticks and Light Crude Oil CL (WTI) futures @ $310.00 dollars or +0.31 points. Total Profit @ $680.00 dollars.

Russell 2000 Emini TF Futures: 1 tick or 0.10 = $10.00 dollars and there's more contract information @ The ICE
Light Crude Oil CL (WTI) Futures: 1 tick or 0.01 = $10.00 dollars and there's more contract information @ CMEGroup
CME EuroFX 6E Futures: 1 tick or 0.0001 = $12.50 dollars and there's more contract information @ CMEGroup
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=110&t=1362

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). I'm primarily a day trader because it suits my personal lifestyle but I do occasionally swing trade or position trade.

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=195&t=1654

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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

Nov. 6 (Bloomberg) -- Bloomberg's Deborah Kostroun reports on the performance of the U.S. equity market today. U.S. stocks rose, sending the Standard & Poor’s 500 Index higher for a second straight day, as American voters went to the polls to pick a president.

Stocks Close Higher On Election Day

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

NEW YORK (CNNMoney) -- U.S. stocks gained ground Tuesday as voters went to the polls on Election Day to choose the next president of the United States.

The Dow Jones industrial average gained 133 points, or 1%, with United Technologies (UTX, Fortune 500), Hewlett-Packard (HPQ, Fortune 500) and Boeing (BA, Fortune 500) among the biggest gainers.

The S&P 500 rose 0.8%, while the Nasdaq added 0.4%.

For the past two weeks, stocks have been trading in a fairly narrow range as investors awaited the nation's election results.

"If we are lucky, we will know the winner by the end of the day because the worst-case scenario for the financial markets would be a stalemate that prolongs the process and involves the counting of thousands of absentee or provisional ballots," said Kathy Lien, Managing Director of FX Strategy. "Investors hate uncertainty and anything short of a clear victory will probably lead to weakness."

The outcome will set the tone for the debate over how to address the so-called "fiscal cliff" of tax hikes and spending cuts that goes into effect in January unless Congress acts. If lawmakers fail to address the fiscal cliff, they risk throwing the U.S. economy back into a recession.

* Wall Street backs Romney

While the latest national polls show that President Obama and Republican opponent Mitt Romney are neck-and-neck, the former Massachusetts governor is an overwhelming favorite of Wall Street, according to a CNNMoney survey of investment strategists and money managers.

Those who back Romney say that the country needs new leadership and new policies to address the fiscal cliff. They also say the candidate's promises to ease up on regulation and slash tax rates will benefit Corporate America.

Meanwhile, those who are supporting another four years for the Obama administration argue that a Romney victory would bring more uncertainty about whether the Federal Reserve's loose monetary policies, which have been credited for boosting the market during the past three years, would continue. Romney has been highly critical of Fed chairman Ben Bernanke.

* Intrade's betting on Obama

* Video - Zillow's bubble may have burst

In corporate news, Fossil (FOSL) posted quarterly earnings that beat forecasts, but revenue fell short of estimates, sending shares of the accessories maker significantly lower.

Zillow (Z) shares dropped sharply after the real estate website delivered a weaker-than-expected revenue outlook for the rest of the year.

AOL (AOL) shares soared more than 20% after the company delivered strong earnings and revenue results, as advertising sales climbed 7% during the quarter.

Office Depot (ODP, Fortune 500) swung to a loss in the third quarter, as the company's sales fell 5%. But excluding certain charges, the office supply chain beat earnings expectations, sending shares 19% higher.

Shares of Express Scripts (ESRX, Fortune 500) sank after the healthcare management firm said analysts' estimates for its 2013 earnings were "overly aggressive."

DirecTV (DTV, Fortune 500) shares edged lower after the company lost more subscribers than expected during the third quarter, and missed earnings estimates. The satellite TV provider was hurt earlier this year by its dispute with Viacom (VIA), which blacked out channels including Comedy Central, MTV and Nickelodeon for 20 million DirecTV customers.

Shares of News Corp. (NWSA, Fortune 500) moved up in after-hours trading following the media company's release of its first quarter results after the bell. News Corp's results beat analysts' forecasts on profits but slightly missed revenues projections.

* Fear & Greed Index

Across the Atlantic, Greek lawmakers are expected to vote this week on reforms aimed at securing much-needed financial support, and the European Central Bank meets Thursday for its monthly policy discussion.

* Greece's misery won't end with bailout vote

European stocks ended higher. Britain's FTSE 100 rose 0.6%, the DAX in Germany gained 0.7%, while France's CAC 40 added 0.9%.

Asian markets closed lower. The Shanghai Composite lost 0.4%, the Hang Seng in Hong Kong slipped 0.3%, and Japan's Nikkei declined 0.4%.

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

Oil for December delivery rose $3.06 to $88.71 a barrel.

Gold futures for December delivery gained $31.80 to $1,715.00 an ounce.

Bonds: The price on the benchmark 10-year U.S. Treasury edged lower, pushing the yield up to 1.75% from 1.68% late Monday.

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Market Update

4:20 pm : Equities began the day on a slightly higher note. The early gains were doubled after an erroneous report on the Cincinnati Enquirer Website suggested Mr. Romney had a considerable lead over Mr. Obama in Ohio. The newspaper promptly retracted the claim, and said that the page accidentally showed a template with dummy data. However, the S&P 500 held the bulk of its gains into the late afternoon before ending higher by 0.8%.

The materials sector was among the top performers, and gained 1.1%. Looking at earnings within the space, Martin Marietta (MLM 86.98, +1.97) settled higher by 2.3% after the company's earnings of $1.36 exceeded Capital IQ consensus estimate by $0.08. Martin's revenue of $593.90 million also beat expectations. When commenting on future outlook, management said: "For full year 2012, we anticipate high single-digit volume growth in our nonresidential end-use market, driven primarily by increased energy shipments." Other providers of building materials saw similar strength. Texas Industries (TXI 45.59, +1.15) and Vulcan Materials (VMC 48.48, +1.88) advanced 2.6% and 4.0%, respectively.

Elsewhere, Louisiana-Pacific (LPX 15.70, -0.35) slipped 2.2% after reporting disappointing earnings. The paper producer's earnings of $0.20 were $0.04 worse than the Capital IQ consensus estimate. Meanwhile, the company's revenue of $467.8 also missed analyst expectations. Other paper manufacturers participated in the sector-wide rally. Neenah Paper (NP 26.78, +1.13) advanced 4.4% and International Paper (IP 35.62, +0.25) added 0.7%.

The consumer discretionary sector saw a flurry of earnings this morning. Two providers of satellite television service were among those who reported. DIRECTV (DTV 50.51, -0.15) slipped 0.3% after revealing third quarter earnings of $0.90, which was $0.04 below the Capital IQ consensus. Meanwhile, the company's revenue of $7.42 billion was ahead of the $7.31 billion expected by analysts. Management commented on the quarter by saying: "DIRECTV U.S.' third quarter results reflect successful execution of our long-term strategy to strike a more optimal balance between our top and bottom lines while DIRECTV Latin America continues to profitably increase market share in the rapidly growing Latin America pay-TV market." Peer DISH Network (DISH 36.00, +1.17) rose by 3.4% after reporting a loss of $0.35 on revenue of $3.52 billion. The bottom line may not be comparable to analyst estimates due to high litigation costs, while the top line missed expectations.

Office Depot (ODP 2.99, +0.48) and OfficeMax (OMX 8.33, +0.89) both reported mixed third quarter results. The two office store operators beat on their respective bottom lines, and fell short of the consensus revenue expectations. However, it should be noted that a Bloomberg article discussed a possible merger between the two. As a result of the M&A speculation, Office Depot and OfficeMax settled higher by 19.1% and 12.0%, respectively.

Luxury retailer Fossil (FOSL 84.24, -9.86) lost 10.5% after reporting mixed earnings. During the third quarter, the luxury retailer earned $1.26, which was $0.09 ahead of the Capital IQ consensus estimate. However, the company's revenue of $684.20 million was below analyst expectations. In addition, Fossil guided fourth quarter earnings in-line with expectations, while revenues are expected to show weakness and come in below consensus estimates. The results weighed on other higher-end apparel retailers. Coach (COH 57.75, +0.15), Ralph Lauren (RL 160.44, -0.79), and Macy's (M 41.38, +0.22) were all down around 1.0% at the start of the session before recovering their losses during the late-morning surge.

Utilities have seen considerable weakness in the aftermath of Hurricane Sandy. Since October 31, the SPDR Utilities Select Sector ETF (XLU 35.69, +0.02) is down over 3.0%. Most notably, electricity providers have been pressured as repair costs continue to rise. In addition, the failures in the Northeast are likely to result in calls for more regulatory oversight and better backup systems, which would translate to increased costs for electricity providers.

Today, the sector was the weakest performer, and major electricity providers weighed on the group. Southern Company (SO 44.14, -0.48) slid 1.1% and Edison International (EIX 45.68, -0.34) slipped 0.7%.

The Presidential election is today's headline event and first exit polls are expected after east coast voting ends at 19:00 ET. Hopefully, the results will be counted without issues and the outcome will be known before tomorrow's open.

In tomorrow's economic data, the weekly MBA Mortgage Index will be reported at 7:00 ET. In addition, September consumer credit will be announced at 15:00 ET.

The U.S. Treasury will auction off $24 billion in 10-yr notes.DJ30 +133.24 NASDAQ +12.27 SP500 +11.13 NASDAQ Adv/Vol/Dec 1590/1.73 bln/853 NYSE Adv/Vol/Dec 2138/673.0 mln/872

3:30 pm : Crude oil and precious metals trended higher alongside the equities market as the U.S. votes for a President and the dollar index inched lower. Crude climbed to a session high of $89.22 per barrel in afternoon action. The energy component then pulled-back slightly and settled with a 3.5% gain at $88.60 per barrel.

Gold came off its pit session low of $1688.20 per ounce and climbed as high as $1720.90 per ounce. Even with a slight pull-back heading into the close, the yellow metal closed 1.9% higher at $1714.50 per ounce.

Silver spent morning floor trade near the unchanged line but picked up momentum heading into afternoon action. It brushed a session high of $32.28 per ounce and eventually settled with a 2.9% gain at $32.03 per ounce.

Natural gas spent morning pit trade chopping around just above the breakeven line. However, it gained momentum in late afternoon action and managed to book a 2.0% gain as it closed at $3.62 per MMBtu.DJ30 +126.98 NASDAQ +8.96 SP500 +10.19 NASDAQ Adv/Vol/Dec 1517/1447.9 mln/888 NYSE Adv/Vol/Dec 2084/459 mln/890

3:05 pm : The S&P 500 has given up a portion of its afternoon gains as it trades higher by 0.9%.

Over fifty companies are scheduled to report earnings after today's close and News Corp (NWSA 24.25, +0.33) is the most notable name on this afternoon's calendar. The Capital IQ consensus expects the media company to report earnings of $0.38 on $8.15 billion in revenue.

Tomorrow morning, Macy's (M 41.12, -0.04) is expected to announce earnings of $0.29 on $6.05 billion in revenue. WellPoint (WLP 60.84, -0.01) will also report its quarterly results before the bell. The health benefits company is forecast to report earnings of $1.84 on $15.31 billion in revenue.DJ30 +145.99 NASDAQ +12.47 SP500 +12.08 NASDAQ Adv/Vol/Dec 1539/1.32 bln/865 NYSE Adv/Vol/Dec 2128/418.1 mln/835

2:30 pm : Quiet afternoon trade continues and the S&P 500 remains higher by 1.0%.

Utility stocks have seen considerable weakness in the aftermath of Hurricane Sandy. Since October 31, the SPDR Utilities Select Sector ETF (XLU 35.79, +0.12) is down over 3.0%. Most notably, electricity providers have been under pressure as repair costs keep mounting. In addition, the failures in the Northeast are likely to result in calls for more regulatory oversight and better backup systems, which would translate to increased costs for electricity providers.

Today, the sector is a notable laggard, and major electricity providers are weighing on the group. Southern Company (SO 44.20, -0.42) is down 0.9% and Exelon (EXC 31.89, -0.12) is off by 0.4%.DJ30 +156.93 NASDAQ +16.56 SP500 +13.68 NASDAQ Adv/Vol/Dec 1583/1.21 bln/800 NYSE Adv/Vol/Dec 2156/379.3 mln/810

2:05 pm : Equities are maintaining their afternoon levels and the S&P 500 is higher by 1.0%.

Earlier Fossil (FOSL 83.37, -10.72) reported mixed earning. The luxury retailer missed top line estimates, but beat on earnings. The stock is down 11.4% in reaction, and the weakness spilled over to other higher-end apparel retailers. Coach (COH 57.47, -0.13), Ralph Lauren (RL 161.04, -0.19), and Macy's (M 41.10, -0.05) were all down around 1.0% at the start of the session before recovering their losses during the late-morning surge. Currently, the three stocks are showing little change.DJ30 +156.24 NASDAQ +15.85 SP500 +13.37 NASDAQ Adv/Vol/Dec 1580/1.12 bln/780 NYSE Adv/Vol/Dec 2158/353.9 mln/809

1:30 pm : The major averages continue to hover near their recent levels, and the S&P 500 is adding 1.0%.

The Dow Jones Transportation Average is outperforming the broader market, and trades higher by 1.6%. Freight carrier, Con-way (CNW 29.76, +1.80) is the top performer as it trades higher by 6.4%. Meanwhile, Ryder System (R 47.95, +2.64) is also outperforming as it sees a gain of 5.8% after FBR added the stock to its Top Picks list.

In transportation earnings, Expeditors International of Washington (EXPD 38.25, +1.13) is advancing 3.5% despite missing on earnings and revenue.

Only two stocks within the bellwether average are missing out on the broad rally. United Continental (UAL 20.25, 0.00) is unchanged while shipper Kirby (KEX 57.06, -0.09) trades lower by 0.2%.DJ30 +159.68 NASDAQ +17.25 SP500 +13.67 NASDAQ Adv/Vol/Dec 1582/1.03 bln/788 NYSE Adv/Vol/Dec 2124/323.8 mln/815

1:05 pm : Stocks opened higher and held modest gains until a considerable risk bid lifted the S&P 500 to fresh highs. The move saw spikes across all sectors, but the energy space, which is leading the broader market, saw the mildest move. The risk bid was reflected in the currency market where the euro spiked about 10 pips against the dollar. Since the initial spike, the S&P 500 extended its gains and is now higher by 0.9%, while the euro slipped off its highs, and is now chopping around the 1.2820 level.

The materials sector is among the top performers as it adds 1.4%. Looking at earnings within the space, Martin Marietta (MLM 89.30, +4.29) is higher by 5.1% after the company's earnings of $1.36 exceeded Capital IQ consensus estimate by $0.08. Martin's revenue of $593.90 million also beat expectations. When commenting on future outlook, management said: "For full year 2012, we anticipate high single-digit volume growth in our nonresidential end-use market, driven primarily by increased energy shipments." Other providers of building materials are seeing similar strength. Texas Industries (TXI 46.58, +2.14) and Vulcan Materials (VMC 48.61, +2.01) are both up near 4.3%.

Elsewhere, Louisiana-Pacific (LPX 15.71, -0.34) is slipping 2.2% after reporting disappointing earnings. The paper producer's earnings of $0.20 were $0.04 worse than the Capital IQ consensus estimate. Meanwhile, the company's revenue of $467.8 also missed analyst expectations. Other paper producers are trading in-line with the sector. Neenah Paper (NP 26.30, +0.65) is advancing 2.5% and International Paper (IP 35.76, +0.39) is higher by 1.1%.

The consumer discretionary sector saw a flurry of earnings this morning. Two providers of satellite television service were among those who reported. DIRECTV (DTV 49.95, -0.70) is off by 1.4% after revealing third quarter earnings of $0.90, which was $0.04 below the Capital IQ consensus. Meanwhile, the company's revenue of $7.42 billion was ahead of the $7.31 billion expected by analysts. Management commented on the quarter by saying: "DIRECTV U.S.' third quarter results reflect successful execution of our long-term strategy to strike a more optimal balance between our top and bottom lines while DIRECTV Latin America continues to profitably increase market share in the rapidly growing Latin America pay-TV market." Peer DISH Network (DISH 35.53, +0.70) is adding 2.0% after reporting a loss of $0.35 on revenue of $3.52 billion. The bottom line may not be comparable to Capital IQ consensus estimates, while the top line missed expectations.

Office Depot (ODP 2.95, +0.44) and OfficeMax (OMX 8.40, +0.96) both reported mixed third quarter results. The two office store operators beat on their respective bottom lines, and fell short of the Capital IQ revenue expectations. However, it should be noted that a Bloomberg article discussed a possible merger between the two. As a result of the M&A speculation, Office Depot and OfficeMax trade higher by 17.5% and 12.9%, respectively.

Fossil (FOSL 83.20, -10.89) is down 11.6% after reporting mixed earnings. During the third quarter, the luxury retailer earned $1.26, which was $0.09 ahead of the Capital IQ consensus estimate. However, the company's revenue of $684.20 million was below analyst expectations. In addition, the company guided fourth quarter earnings in-line with expectations, while revenues are expected to show weakness and come in below consensus estimates.

Elsewhere, AOL (AOL 40.84, +5.02) is surging 14.0% after the company beat on earnings and revenue.DJ30 +145.45 NASDAQ +16.58 SP500 +12.30 NASDAQ Adv/Vol/Dec 1574/954.2 mln/777 NYSE Adv/Vol/Dec 2110/296.3 mln/819

12:35 pm : Stocks are holding their gains and the S&P 500 is adding 1.0%.

The materials sector is the top performer as it trades higher by 1.6%. Looking at earnings within the space, Martin Marietta (MLM 89.91, +3.90) is higher by 4.6% after the company's earnings of $1.36 exceeded Capital IQ consensus estimate by $0.08. Martin's revenue of $593.90 million also beat expectations. When commenting on future outlook, management said: "For full year 2012, we anticipate high single-digit volume growth in our nonresidential end-use market, driven primarily by increased energy shipments." Other providers of building materials are seeing similar strength. Texas Industries (TXI 46.58, +2.14) and Vulcan Materials (VMC 48.63, +2.03) are both up near 4.3%.

Elsewhere, Louisiana-Pacific (LPX 15.49, -00.56) is slipping 3.5% after reporting disappointing earnings. The paper producer's earnings of $0.20 were $0.04 worse than the Capital IQ consensus estimate. Meanwhile, the company's revenue of $467.8 also missed analyst expectations. Other paper producers are trading in-line with the sector. Neenah Paper (NP 26.41, +0.76) is advancing 2.7% and International Paper (IP 35.84, +0.47) is higher by 1.3%.DJ30 +162.07 NASDAQ +20.84 SP500 +14.60 NASDAQ Adv/Vol/Dec 1596/871.3 mln/733 NYSE Adv/Vol/Dec 2171/268.2 mln/751

12:00 pm : The S&P 500 surged to fresh highs in a move which saw spikes across all sectors. The index is currently up 0.9%. The energy space, which is leading the broader market, saw the mildest move. The risk bid was reflected in the currency market where the euro spiked about 10 pips against the dollar. Since the initial spike, the S&P 500 continued extending its gains, while the euro slipped off its highs, and is now chopping around the 1.2820 level.

Election Day swings are not out of the ordinary as the markets were up 3.0% on the day of the 2008 election and fell 5.0% the following day.DJ30 +151.18 NASDAQ +18.18 SP500 +13.15 NASDAQ Adv/Vol/Dec 1570/758.9 mln/740 NYSE Adv/Vol/Dec 2101/230.7 mln/804

11:35 am : The S&P 500 is up 0.4% and it continues to hover near its session high.

The consumer discretionary sector saw a flurry of earnings this morning. Two providers of satellite television service were among those who reported. DIRECTV (DTV 49.28, -1.39) is off by 2.7% after revealing third quarter earnings of $0.90, which was $0.04 below the Capital IQ consensus. Meanwhile, the company's revenue of $7.42 billion was ahead of the $7.31 billion expected by analysts. Management commented on the quarter by saying: "DIRECTV U.S.' third quarter results reflect successful execution of our long-term strategy to strike a more optimal balance between our top and bottom lines while DIRECTV Latin America continues to profitably increase market share in the rapidly growing Latin America pay-TV market."

Peer DISH Network (DISH 32.00, +0.17) is adding 0.5% after reporting a loss of $0.35 on revenue of $3.52 billion. The bottom line may not be comparable to Capital IQ consensus estimates, while the top line missed expectations.

Office Depot (ODP 2.89, +0.38) and OfficeMax (OMX 8.20, +0.76) both reported mixed third quarter results. The two office store operators beat on their respective bottom lines, and fell short of the Capital IQ revenue expectations. However, it should be noted that a Bloomberg article discussed a possible merger between the two. As a result of the M&A speculation, Office Depot and OfficeMax trade higher by 15.5% and 10.2%, respectively.

Luxury retailer Fossil (FOSL 82.16, -11.94) is down 12.7% after reporting mixed earnings. During the third quarter, the luxury retailer earned $1.26, which was $0.09 ahead of the Capital IQ consensus estimate. However, the company's revenue of $684.20 million was below analyst expectations. In addition, the company guided fourth quarter earnings in-line with expectations, while revenues are expected to show weakness and come in below consensus estimates.

Elsewhere, AOL (AOL 40.21, +4.40) is surging 12.3% after the company beat on earnings and revenue.DJ30 +92.80 NASDAQ +4.63 SP500 +6.78 NASDAQ Adv/Vol/Dec 1474/630.8 mln/817 NYSE Adv/Vol/Dec 1925/190.7 mln/933

11:00 am : The major averages continue to trade near their respective highs and the S&P 500 is up 0.4%.

Looking at the technology sector, the SPDR Technology Select Sector ETF (XLK 29.25, +0.13) is adding 0.5%. The largest tech component, Apple (AAPL 586.05, +1.42) is underperforming as it trades higher by 0.3%. Shortly before yesterday's close, Bloomberg reports suggested the company may be considering a future switch away from Intel (INTC 21.70, -0.13) processors. Intel is seeing relative weakness today as it trades lower by 0.6%.

Looking at earnings, Zillow (Z 27.77, -6.60) is sliding 19.2% after reporting third quarter results. The online real estate information service reported earnings and revenue in-line with the Capital IQ consensus estimates. However, Zillow's guidance was a point of concern as the company expects fourth quarter revenue to fall below consensus. In addition, the company has entered into a definitive agreement to acquire Mortech, Inc. for approximately $12 million in cash and 150,000 shares of restricted stock.

Elsewhere, THQ (THQI 1.74, -1.27) is sinking 42.2% after the video game maker reported its second quarter results. THQ beat on earnings and revenue, but the company suspended guidance and said it has hired Centerview Partners to assist in evaluating strategic and financing alternatives.DJ30 +80.49 NASDAQ +4.44 SP500 +5.49 NASDAQ Adv/Vol/Dec 1454/517.8 mln/801 NYSE Adv/Vol/Dec 1897/157.3 mln/924

10:35 am : Commodities are mostly higher this morning as the dollar index is in negative territory.

Dec crude oil has been in positive territory all morning and rose as high as $86.80. In current trade, Dec crude is +0.7% at $86.26/barrel. Dec natural gas surged earlier this morning, pushing out of negative territory up to a new HoD of $3.59/MMBtu. Dec nat gas is now +0.5% at $3.57/MMBtu.

Dec gold has been in positive territory all session and is near its HoD of $1694.20/oz. Meanwhile, silver futures sold off a short while ago, falling into negative territory, but remaining above the $31 level. Dec gold is now +0.5% at $1691.80/oz and Dec silver is +0.1% at $31.17/oz. Dec copper is +0.4% at $3.48/lb.DJ30 +65.92 NASDAQ +2.06 SP500 +4.06 NASDAQ Adv/Vol/Dec 1403/400.1 mln/793 NYSE Adv/Vol/Dec 1823/129 mln/970

10:00 am : Equities are holding their early gains and the S&P 500 is adding 0.4%.

Retail stocks are showing early strength and the SPDR S&P Retail ETF (XRT 63.52, +0.51) is higher by 0.8%. Within the retail industry, Office Depot (ODP 2.75, +0.24) and OfficeMax (OMX 7.78, +0.34) both reported mixed third quarter results. The two office store operators beat on their respective bottom lines, and fell short of the Capital IQ revenue expectations. However, it should be noted that a Bloomberg article discussed a possible merger between the two. As a result of the M&A speculation, Office Depot and OfficeMax trade higher by 9.2% and 4.6%, respectively.DJ30 +78.90 NASDAQ +6.42 SP500 +6.49 NASDAQ Adv/Vol/Dec 1490/222.1 mln/651 NYSE Adv/Vol/Dec 1961/78.1 mln/765

09:45 am : Equities are maintaining the modest bullish bias observed in the pre-market. The Dow is the top performing index as it trades higher by 0.4%.

Looking into the industrial average, The Boeing Company (BA 71.12, +0.71), International Business Machines (IBM 196.13, +1.99), and United Technologies (UTX 78.66, +0.76) are the top performers, seeing gains near 1.0% each.

On the downside, Intel (INTC 21.68, -0.15) is among the biggest laggards as it trades lower by 0.7%. The weakness likely stems from yesterday's late afternoon reports which indicated Apple (AAPL 588.22, +3.59) may look for a different provider of central processing units.DJ30 +60.97 NASDAQ +3.57 SP500 +4.68 NASDAQ Adv/Vol/Dec 1396/151.1 mln/682 NYSE Adv/Vol/Dec 1896/60.2 mln/751

09:17 am : [BRIEFING.COM] S&P futures vs fair value: +3.80. Nasdaq futures vs fair value: +6.50. Heading into open, equity futures are holding near their best pre-market levels and the S&P 500 futures are adding 0.3%.

Earlier, Nationstar Mortgage Holdings (NSM 28.00, -2.20) reported earnings of $0.64 on $277.2 million in revenue. The stock is trading lower by 7.3% in pre-market despite the company's bottom line beat and revenue in-line with the Capital IQ consensus. Peer Ocwen Financial (OCN 33.62, +0.67) is adding 2.0%.

08:59 am : [BRIEFING.COM] S&P futures vs fair value: +3.80. Nasdaq futures vs fair value: +7.30. U.S. equity futures are holding their levels and the S&P 500 futures are adding 0.3%.

The major Asian bourses ended mixed as traders remained cautious ahead of the U.S. election and Thursday's leadership handover in China. The Reserve Bank of Australia surprised markets by holding its key rate steady at 3.25% (3.00% expected), noting some hotter than expected inflationary pressures as well as stabilization in China. Data from the region showed Australia's Home Price Index print a weaker than expected 0.3% quarter-over-quarter (1.1% forecast) and Philippines CPI hold at -0.1% month-over-month.

In Japan, the Nikkei closed lower by 0.4% as a strong yen weighed. Honda Motor fell 1.6% and Nissan Motor shed 2.2%. Commodity-related names outperformed as Inpex gained 1.3%.

Hong Kong's Hang Seng slipped 0.3% as details of HSBC's money laundering bill weighed. The company announced the total money laundering provision is now up to $1.5 billion after previously setting aside $700 million. The stock shed 1.4%.

In China, the Shanghai Composite shed 0.4% as property names saw profit-taking. Poly Real Estate fell 1.3% and China Vanke lost 0.7% after seeing gains in each of the previous six sessions. Brokerage names outperformed with Sinolink Securities jumping 7.4% to lead the charge.

European markets are shaking off weaker-than-expected Eurozone Services PMI data as France and Germany both missed expectations. Meanwhile, Spanish and Italian PMI readings were reported ahead of consensus. Elsewhere, the United Kingdom's Industrial Production declined by 2.6% year-over-year, while a decrease of 1.6% was broadly expected. Looking deeper into this figure, 1.9% of the decline was due to Oil and Gas extraction, which posted a record monthly fall due to maintenance operations. This is expected to have little to no impact on GDP. Meanwhile, Germany's Finance Minister Wolfgang Schaeuble said the U.S. should deal with its fiscal cliff in a way which would not impact the global economy. European Commissioner for Economic and Monetary Affairs, Olli Rehn, believes the recovery in the Eurozone will start next year and accelerate in 2014.

In the United Kingdom, the FTSE is higher by 0.5%. Insurer Resolution is surging 6.5% after Bank of America upgraded the stock. On the downside, facility manager Babcock International is sliding 3.6% after reporting a drop in order backlog.

France's CAC is adding 0.3% and financials are outperforming. Credit Agricole and Societe Generale are leading the index with respective gains of $3.1% and 2.1%. Meanwhile, consumer stocks are seeing weakness. Danone and L'Oreal are both down near 0.7%.

Germany's DAX is advancing 0.6%. Deutsche Lufthansa is up 2.5% after the airline was said to be exploring a partnership with Turkish Airlines. Car makers are among the biggest laggards as Volkswagen trades lower by 1.4% and BMW is off by 0.5%.

08:32 am : [BRIEFING.COM] S&P futures vs fair value: +3.80. Nasdaq futures vs fair value: +7.50. Equity futures continue to register modest gains and the S&P 500 futures are higher by 0.3%.

Two providers of satellite television service reported their earnings this morning. DIRECTV (DTV 50.10, -0.56) is off by 1.1% after revealing third quarter earnings of $0.90, which was $0.04 below the Capital IQ consensus. Meanwhile, the company's revenue of $7.42 billion was ahead of the $7.31 billion expected by analysts. Company's management commented on the quarter by saying: "DIRECTV U.S.' third quarter results reflect successful execution of our long-term strategy to strike a more optimal balance between our top and bottom lines while DIRECTV Latin America continues to profitably increase market share in the rapidly growing Latin America pay-TV market."

Peer DISH Network (DISH 32.55, -2.28) is down 6.6% after its revenue of $3.52 billion came in below Capital IQ consensus estimate.

08:02 am : [BRIEFING.COM] S&P futures vs fair value: +0.90. Nasdaq futures vs fair value: +2.50. U.S. equity futures are modestly higher as Americans head to polls to vote in today's presidential election. First exit polls are expected to be reported after east coast voting ends at 19:00 ET.

Overnight, the world equity markets were mixed. Asian indices registered modest losses, while European bourses are advancing. The Far East session saw below average volumes and market participants appeared cautious ahead of the U.S. elections. China's Shanghai Composite saw early declines of over 1.5%, but managed to regain the bulk of its losses and settle lower by 0.4%. The greatest losses were observed in the property sector. Elsewhere, Australia's Central Bank left its key interest rate unchanged at 3.25%, and the Reserve Bank of Australia noted it is beginning to see signs of a global recovery and stabilization in China. The Australian dollar strengthened on the news. Hong Kong's Hang Seng and Japan's Nikkei shed 0.3% and 0.4%, respectively.

In Europe, markets are shaking off weaker-than-expected Eurozone Services PMI data as France and Germany missed expectations. Meanwhile, Spanish and Italian PMI readings were reported ahead of consensus. Elsewhere, the United Kingdom's Industrial Production declined by 2.6% year-over-year, while a decrease of 1.6% was broadly expected. Looking deeper into this figure, 1.9% of the decline was due to Oil and Gas extraction, which posted a record monthly fall due to maintenance operations. This is expected to have little to no impact on GDP. Meanwhile, Germany's Finance Minister Wolfgang Schaeuble said the U.S. should deal with its fiscal cliff in a way which would not impact the global economy. European Commissioner for Economic and Monetary Affairs, Olli Rehn, believes the recovery in the Eurozone will start next year and accelerate in 2014. Looking at European indices, France's CAC, Germany's DAX, and UK's FTSE are all higher by 0.7%.

In U.S. corporate news, Express Scripts (ESRX 54.74, -8.14) is slumping 13.0% after the provider of pharmacy benefit management services reported mixed earnings. ESRX announced earnings of $1.02, which was $0.03 better than the Capital IQ consensus estimate. The revenue, however, fell short of expectations. Regarding future outlook, the company expects in-line full-year 2012 earnings, while its full-year 2013 bottom line is forecast to come in below consensus.

Fossil (FOSL 87.00, -7.10) is down 7.6% after reporting mixed earnings. During the third quarter, the luxury retailer earned $1.26, which was $0.09 ahead of the Capital IQ consensus estimate. However, the company's revenue of $684.20 million was below analyst expectations. In addition, the company guided fourth quarter earnings in-line with expectations, while revenues are expected to show weakness and come in below consensus estimates.

Zillow (Z 27.95, -6.42) is sliding 18.7% after reporting third quarter results. The online real estate information service reported earnings and revenue in-line with the Capital IQ consensus estimates. However, Zillow's guidance was a point of concern as the company expects fourth quarter revenue to fall below consensus. In addition, the company has entered into a definitive agreement to acquire Mortech, Inc. for approximately $12 million in cash and 150,000 shares of restricted stock.

There is no economic news on today's calendar. However, the U.S. Treasury will auction off $32 billion in 3-yr notes.

06:33 am : [BRIEFING.COM] S&P futures vs fair value: +3.00. Nasdaq futures vs fair value: +7.00.

06:33 am : Nikkei...8975.15...-32.30...-0.40%. Hang Seng...21944.43...-62.00...-0.30%.

06:33 am : FTSE...5867.57...+28.50...+0.50%. DAX...7366.75...+40.30...+0.60%.

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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