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 Post subject: November 27th Tuesday TF, 6E & CL Futures $2147.50
PostPosted: Tue Nov 27, 2012 2:20 pm 
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Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
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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 @ $880.00 dollars or +8.80 points, EuroFX 6E futures @ $187.50 dollars or +0.0015 ticks and Light Crude Oil CL (WTI) futures @ $1,080.00 dollars or +1.08 points. Total Profit @ $2147.50 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=1377

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 and 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 while using 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 trade decisions (day trading, swing trading, position trading)...something I can not get from my broker statements alone.

U.S. Market Wrap

Nov. 27 (Bloomberg) -- Bloomberg's Deborah Kostroun reports on the performance of the U.S. equity market today. U.S. stocks fell for a second day as concern about progress in Washington budget negotiations overshadowed a European agreement on Greece aid and a better-than-forecast report on durable goods.

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Market Update

4:20 pm : Stocks began today's session on a negative note, and finished on their lows. Overnight reports from Europe indicated the International Monetary Fund and the Eurozone finance ministers agreed on the terms of the next installment of Greek aid. As part of the agreement, the country's debt-to-GDP ratio is expected to decline from 190% in 2014 to 124% in 2020. The news did little to inspire investor confidence as the markets are beginning to doubt the sovereign's ability to reach the lofty goals. Instead, market participants remained focused on Washington where Senator Harry Reid said little progress has been made in budget negotiations. After the Senate majority leader's comments, the S&P 500 fell to session lows from its flat line. The index declined further when a final round of selling pressured it to a loss of 0.5%.

The utilities sector appears poised for a rebound after enduring a rough month. Yesterday, utility stocks gained 1.3% on the strength of electricity providers after Deutsche Bank upgraded Exelon (EXC 29.76, +0.44). Today, the story repeated as the sector registered gains after ISI Group upgraded Exelon to ‘buy' from ‘neutral.' Exelon added 1.5% and other electricity providers caught a bid as well. NV Energy (NVE 18.31, +0.25), UNS Energy (UNS 41.30, +0.76), and PPL (PPL 28.81, +0.37) all gained between 1.4% and 1.9%.

Technology stocks performed largely in-line with the broader market, but Apple (AAPL 584.78, -4.75) underperformed with a loss of 0.8%. Earlier, the company fired the manager responsible for the issues with its map service.

Also of note, Seagate (STX 25.95, -1.39) slid 5.1% after company insiders exercised their options and sold stock. The news was a negative for Seagate as the company was seen as a potential takeover target. Stock sales by insiders suggest a deal is far from being completed. Western Digital (WDC 34.69, -1.12) fell 3.1% in sympathy.

The consumer staples sector outperformed the broader market, and the SPDR Consumer Staples Select Sector ETF (XLP 35.38, -0.03) shed 0.1%. Among food producers, ConAgra (CAG 29.63, +1.34) rose by 4.7% after announcing plans to acquire Ralcorp (RAH 88.80, +18.57) for $90 per share. This represented a 28.2% premium to RAH's Monday closing price.

Elsewhere, Monster Beverage (MNST 51.96, +6.09) advanced 13.3%. Earlier, a letter sent from the Federal Drug Administration to Illinois Senator Dick Durbin indicated the regulatory body is conducting an investigation into the potential danger of Monster products as well as the possible need for increased regulation. However, the FDA said it does not see a problem with taurine and guarana, which are the two main additives in energy drinks.

A handful of footwear manufacturers saw strength after Goldman initiated coverage on two stocks. Crocs (CROX 13.49, +1.14) gained 9.2% after being assigned a ‘buy' rating. Meanwhile, Deckers Outdoor (DECK 36.27, +1.02) settled higher by 2.9% after receiving a ‘neutral' grade.

Elsewhere, Skechers (SKX 19.70, +0.64) rose by 3.4% while K-Swiss (KSWS 3.09, +0.11) surged 3.7%.

Looking at notable names which reported earnings since yesterday's close, ADT (ADT 43.57, +0.47) added 1.1% despite delivering disappointing quarterly results. The security company's earnings missed the Capital IQ consensus estimate by $0.01, while its revenue of $812 million fell short of the expected $819.85 million.

Separately, Thor (THO 38.60, -5.00) sank 11.5% after reporting first quarter earnings of $0.60 on $875.6 million in revenue. The company's bottom line fell short of analyst estimates by $0.03 while its revenue was reported in-line with expectations. Peer Winnebago (WGO 13.90, -0.13) slipped 0.9%.

Reviewing today's economic news, the September Case-Shiller 20-city Home Price Index rose by 3.0%, while a 3.1% increase had been expected by the Briefing.com consensus. This followed the previous month's increase of 2.0%.

The latest consumer confidence reading for November came in at 73.7, while economists polled by Briefing.com expected a reading of 73.0. Today's figure follows last month's reading of 72.2.

Separately, the September Housing Price Index from the FHFA increased by 1.1%, which follows a 0.7% increase observed during the prior month.

Durable goods orders were unchanged in October, which was better than the 0.4% decrease that had been expected among economists polled by Briefing.com. This follows the downwardly revised prior month increase of 9.2%. Excluding transportation related items, durable goods orders increased in October by 1.5%, which was better than the 0.4% decrease that had been broadly anticipated. Prior month's reading was revised down to reflect an increase of 1.7%.

In tomorrow's economic data, the weekly MBA Mortgage Index will be reported at 7:00 ET. In addition, October new home sales and the October Beige Book will be released at 10:00 ET and 14:00 ET, respectively.

The U.S. Treasury will auction off $35 billion in 5-yr notes.DJ30 -89.24 NASDAQ -8.99 SP500 -7.35 NASDAQ Adv/Vol/Dec 1114/1.69 bln/1342 NYSE Adv/Vol/Dec 1339/689.4 mln/1711

3:30 pm : Crude oil struggled in negative territory as a stronger dollar following better-than-anticipated U.S. economic data put pressure on prices. It broke into positive territory after dipping as low as $86.86 per barrel in morning pit action. However, the effort was short lived, and the energy component settled 0.6% lower at $87.19 per barrel.

Precious metals were also under pressure from the stronger dollar index. Gold trended lower into the red after it retreated from its session high of $1749.20 per ounce set moments after floor trade opened. It brushed a session low of $1741.20 per ounce moments before settling with a 0.4% loss at $1743.30 per ounce. Despite touching a session high of $34.16 per ounce in early morning pit action, silver fell into negative territory and struggled there for the remainder of its session. It dipped to a session low of $33.91 per ounce and like gold, settled 0.4% lower at $33.99 per ounce.

Natural gas slid off its session high of $3.91 per MMBtu into the red where it chopped around in morning pit action. However, buyers stepped in and took prices back above the break-even level. Natural gas managed to sustain the gain and eventually settled 0.5% higher at $3.89 per MMBtu.DJ30 -50.01 NASDAQ -0.24 SP500 -3.06 NASDAQ Adv/Vol/Dec 1209/1419.7 mln/1229 NYSE Adv/Vol/Dec 1505/460 mln/1492

3:00 pm : The S&P 500 is off by 0.2% as it continues to trade near its session low.

Looking at companies scheduled to report after today's close, the Capital IQ consensus estimate expects Green Mountain Coffee (GMCR 29.21, +0.60) to report earnings of $0.48 on $902.25 billion in revenue.

Meanwhile, PVH (PVH 109.94, -0.80) is another notable name set to reveal its results after the bell. The apparel designer is expected to announce earnings of $2.29 on revenue of $1.64 billion.

Apparel retailers and producers of luxury goods will be in focus ahead of tomorrow's open as American Eagle (AEO 19.48, 0.00), Express (EXPR 12.83, -0.05), Jos. A Bank (JOSB 47.30, -0.20), and Movado Group (MOV 32.15, +0.94) are all scheduled to report.DJ30 -54.59 NASDAQ -1.29 SP500 -3.22 NASDAQ Adv/Vol/Dec 1212/1.3 bln/1220 NYSE Adv/Vol/Dec 1518/422.5 mln/1474

2:30 pm : The S&P 500 saw a sharp downtick after headlines from Senator Harry Reid indicated little progress has been made in debt discussions. Currently, the index is lower by 0.3%.

A handful of footwear manufacturers are seeing strength after Goldman initiated coverage of two stocks. Crocs (CROX 13.62, +1.27) is advancing 10.3% after being assigned a ‘buy' rating. Meanwhile, Deckers Outdoor (DECK 36.35, +1.10) is higher by 3.2% after receiving a ‘neutral' grade.

Elsewhere, Skechers (SKX 20.02, +0.96) is rising by 5.0% while K-Swiss (KSWS 3.13, +0.15) is surging 5.0%.DJ30 -68.89 NASDAQ -2.07 SP500 -4.41 NASDAQ Adv/Vol/Dec 1222/1.18 bln/1195 NYSE Adv/Vol/Dec 1486/382.4 mln/1485

2:00 pm : The S&P 500 is off by 0.1% as the index continues to oscillate around its unchanged line.

Looking at notable names which have reported earnings since yesterday's close, ADT (ADT 43.96, +0.84) is adding 1.9% despite delivering disappointing quarterly results. The security company's earnings missed the Capital IQ consensus estimate by $0.01, while its revenue of $812 million fell short of the expected $819.85 million.

Elsewhere, Thor (THO 39.39, -4.21) is sliding 9.7% after reporting first quarter earnings of $0.60 on $875.6 million in revenue. The company's bottom line fell short of analyst estimates by $0.03 while its revenue was reported in-line with expectations. Peer Winnebago (WGO 13.95, -0.08) is slipping 0.6%.DJ30 -37.73 NASDAQ +4.48 SP500 -0.93 NASDAQ Adv/Vol/Dec 1300/1.07 bln/1107 NYSE Adv/Vol/Dec 1652/348.5 mln/1326

1:30 pm : The Dow has spent the majority of the session in the red and it currently trades lower by 0.3%.

The Dow Jones Transportation Average is adding 0.2% as it outperforms the remaining industrials. The 20-stock complex is split evenly between advancers and decliners. Railroads are some of the best performers as Norfolk Southern (NSC 58.93, +0.68) and Union Pacific (UNP 122.81, +0.94) trade higher by 1.1% and 0.8%, respectively.

Meanwhile, shipping stocks are seeing relative weakness. Matson (MATX 22.48, -0.08) and Kirby (KEX 56.75, -0.24) are both down near 0.4%.DJ30 -31.44 NASDAQ +2.05 SP500 -1.20 NASDAQ Adv/Vol/Dec 1280/966.1 mln/1111 NYSE Adv/Vol/Dec 1613/317.1 mln/1347

1:00 pm : Equities opened the session on a lower note. The Greek financing agreement between the International Monetary Fund and the Eurozone finance ministers did little to inspire investor confidence. Instead, market participants remain focused on the U.S. as they wait for any hints of progress in the budget debate. After marking a session low in the 1400 area, the S&P 500 is adding 0.1% at midday.

The utilities sector appears to be poised for a rebound after enduring a rough month. Yesterday, utility stocks gained 1.3% on the strength of electricity providers after Deutsche Bank upgraded Exelon (EXC 29.95, +0.63). Today, the story appears to be repeating as the sector heads higher after ISI Group upgraded Exelon to ‘buy' from ‘neutral.' EXC is adding 2.1% and other electricity providers are registering gains as well. NV Energy (NVE 18.33, +0.27), UNS Energy (UNS 41.16, +0.62), and PPL (PPL 28.77, +0.33) are all up near 1.2%.

Technology stocks are performing largely in-line with the broader market and Apple (AAPL 588.70, -0.83), which has been in focus recently, trades lower by 0.1%.

Additionally, Seagate (STX 26.21, -1.13) is down 4.2%. The weakness comes after company insiders exercised their options and sold stock. The news is seen as negative for the Seagate as the company was seen as a potential takeover target. Stock sales by insiders suggest that a deal is far from being completed. Western Digital (WDC 35.01, -0.80) is off by 2.2% in sympathy.

Also of note, Corning (GLW 12.24, +0.89) is surging 7.8% after the company updated its forecast to reflect better-than-expected fourth quarter LCD volume.

The consumer staples sector is outperforming the broader market and the SPDR Consumer Staples Select Sector ETF (XLP 35.53, +0.12) is advancing 0.4%. Among food producers, ConAgra (CAG 29.59, +1.30) is rising by 4.6% after announcing plans to acquire Ralcorp (RAH 88.80, +18.57) for $90 per share, representing a 28.2% premium to RAH's Monday closing price.

Elsewhere, Monster Beverage (MNST 51.95, +6.09) is advancing 13.0%. Earlier, a letter sent from the Federal Drug Administration to Illinois Senator Dick Durbin indicated the regulatory body is conducting an investigation into the potential danger of Monster products as well as the possible need for increased regulation. However, the FDA said it does not see a problem with taurine and guarana, which are the two main additives in energy drinks.

Lastly, cigarette producers are extending their recent strength. Universal (UVV 49.64, +0.36) is adding 0.7% and Reynolds American (RAI 43.20, +0.27) is firmer by 0.6%.

In today's economic news, the September Case-Shiller 20-city Home Price Index rose by 3.0%, while a 3.1% increase had been expected by the Briefing.com consensus. This followed the previous month's increase of 2.0%.

The latest consumer confidence reading for November came in at 73.7, while economists polled by Briefing.com expected a reading of 73.0. Today's figure follows last month's reading of 72.2.

Separately, the September Housing Price Index from the FHFA increased by 1.1%, which follows a 0.7% increase observed during the prior month.

Durable goods orders were unchanged in October, which was better than the 0.4% decrease that had been expected among economists polled by Briefing.com. This follows the downwardly revised prior month increase of 9.2%. Excluding transportation related items, durable goods orders increased in October by 1.5%, which was better than the 0.4% decrease that had been broadly anticipated. Prior month's reading was revised down to reflect an increase of 1.7%.DJ30 -17.72 NASDAQ +6.91 SP500 +0.98 NASDAQ Adv/Vol/Dec 1339/878.1 mln/1047 NYSE Adv/Vol/Dec 1735/290.7 mln/1220

12:30 pm : The S&P 500 is adding 0.1% as cautious trade continues.

Technology stocks are performing largely in-line with the broader market. Apple (AAPL 586.86, -2.67), which has been in focus recently, is off by 0.5%.

Elsewhere, Seagate (STX 26.17, -1.17) trades lower by 4.3%. The weakness comes after company insiders exercised their options and sold stock. The news is seen as negative for the Seagate as the company was seen as a potential takeover target. Stock sales by insiders suggest that a deal is far from being completed. Western Digital (WDC 34.92, -0.89) is down 2.5% in sympathy.

Also of note, Corning (GLW 12.21, +0.85) is surging 7.5% after the company updated its forecast to reflect better-than-expected fourth quarter LCD volume.DJ30 -7.87 NASDAQ +3.61 SP500 +1.10 NASDAQ Adv/Vol/Dec 1337/799.5 mln/1007 NYSE Adv/Vol/Dec 1749/268.1 mln/1199

12:00 pm : The S&P 500 is adding 0.2% as it trades at a fresh session high.

The consumer staples sector is outperforming the broader market and the SPDR Consumer Staples Select Sector ETF (XLP 35.59, +0.18) is advancing 0.5%.

Among food producers, ConAgra Foods (CAG 29.58, +1.29) is rising by 4.6% after announcing plans to acquire Ralcorp (RAH 88.76, +18.53) for $90 per share, representing a 28.2% premium to RAH's Monday closing price.

Elsewhere, Monster Beverage (MNST 48.36, +2.48) is advancing 5.4%. Earlier, a letter sent from the Federal Drug Administration to Illinois Senator Dick Durbin indicated the regulatory body is conducting an investigation into the potential danger of Monster products as well as the possible need for increased regulation. However, the FDA said it does not see a problem with taurine and guarana, which are the two main additives in energy drinks.

Lastly, cigarette producers are extending their recent strength. Universal (UVV 49.80, +0.52) is adding 1.1% and Reynolds American (RAI 43.25, +0.32) is firmer by 0.8%DJ30 +1.29 NASDAQ +5.54 SP500 +2.01 NASDAQ Adv/Vol/Dec 1353/732.9 mln/966 NYSE Adv/Vol/Dec 1770/249.5 mln/1151

11:30 am : The S&P 500 is off by 0.2% as the index trades near its opening level.

The utilities sector appears to be poised for a rebound after enduring a rough month. Yesterday, utility stocks gained 1.3% on the strength of electricity providers after Deutsche Bank upgraded Exelon (EXC 29.94, +0.62). Today, the story appears to be repeating as the sector heads higher after ISI Group upgraded Exelon to ‘buy' from ‘neutral.' EXC is adding 2.1% and other electricity providers are registering gains as well. NV Energy (NVE 18.26, +0.20), UNS Energy (UNS 41.01, +0.47), and PPL (PPL 28.74, +0.30) are all up near 1.1%.DJ30 -33.94 NASDAQ -2.87 SP500 -2.03 NASDAQ Adv/Vol/Dec 1225/619.4 mln/1094 NYSE Adv/Vol/Dec 1546/213.8 mln/1328

11:00 am : After marking a session low in the 1400 area, the S&P 500 has added 2 points. Currently, the benchmark average is off by 0.3%.

As crude oil trades lower by 1.0%, the energy sector is seeing corresponding losses. Among major oil producers, EOG Resources (EOG 114.99, -1.66), National Oilwell Varco (NOV 69.98, -1.15), and Schlumberger (SLB 69.58, -0.85) are all down between 1.2% and 1.6%.

Elsewhere in energy, coal stocks remain under pressure as the Market Vectors Coal ETF (KOL 23.63, -0.05) trades lower by 0.2%.DJ30 -33.80 NASDAQ -4.57 SP500 -2.70 NASDAQ Adv/Vol/Dec 1176/530.2 mln/1075 NYSE Adv/Vol/Dec 1453/188.1 mln/1389

10:35 am : Commodities are mostly lower this morning as the dollar index continues to inch higher here. In fact, the index just pushed to another new session high.

Jan crude oil just sold off and dropped to a new session low of $87.15/barrel. In current activity, crude oil is -0.7% at $87.14/barrel.

Dec natural gas futures surged earlier this morning, rallying as high as $3.77/MMBtu. The energy component has since sold off and is now -0.2% at $3.72/MMBtu.

Precious metals are in the red as well with Dec gold trading -0.3% at $1744.20/oz and Dec silver trading -0.4% at $34.01/oz. Dec copper is currently -0.5% at $3.52/lb.DJ30 -55.06 NASDAQ -8.41 SP500 -5.31 NASDAQ Adv/Vol/Dec 1086/396.0 mln/1114 NYSE Adv/Vol/Dec 1264/155 mln/1538

10:05 am : The major averages have shown little change in reaction to the release of two notable data points. The S&P 500 is adding 0.1%.

The latest consumer confidence reading for November came in at 73.7, while economists polled by Briefing.com expected a reading of 73.0. This follows prior month's reading of 72.2.

Separately, the latest Housing Price Index from the FHFA was also released. For September, the Index increased by 1.1%, which follows a 0.7% increase observed during the prior month. DJ30 -5.22 NASDAQ -1.28 SP500 +1.13 NASDAQ Adv/Vol/Dec 1240/245.1 mln/883 NYSE Adv/Vol/Dec 1645/99.9 mln/1083

09:50 am : The major averages proved to be resilient in the face of early weakness. After opening in the red, the S&P 500 is now flat.

Looking at the early sector alignment, industrials are seeing the strongest performance, up 0.4%. In addition, utilities and consumer discretionary stocks are also outperforming. On the downside, financials are lagging and the SPDR Financial Select Sector ETF (XLF 15.75, -0.03) is lower by 0.2%.

The November consumer confidence data and September FHFA Housing Price Index will both be reported in 15 minutes.DJ30 -6.80 NASDAQ +2.31 SP500 +0.53 NASDAQ Adv/Vol/Dec 1228/158.1 mln/803 NYSE Adv/Vol/Dec 1590/72.8 mln/1062

09:17 am : [BRIEFING.COM] S&P futures vs fair value: -1.50. Nasdaq futures vs fair value: -3.50. Heading into the open, equity futures are indicating a flat start to the session.

Looking at pre-market movers, Corning (GLW 12.25, +0.90) is higher by 7.9% after the company updated its forecast to reflect better-than-expected fourth quarter LCD glass volume.

Elsewhere, security system provider ADT (ADT 44.93, +1.83) is rising by 4.3% despite reporting a narrow earnings miss as well revenue below the Capital IQ consensus estimate. Regarding the full-year expectations, the company sees recurring revenue growth between 4.9% and 5.2%.

Today's economic data will be topped off by the November consumer confidence data and the September FHFA Housing Price Index. Both figures will be reported at 10:00 ET.

09:03 am : [BRIEFING.COM] S&P futures vs fair value: -0.60. Nasdaq futures vs fair value: -0.80. Equity futures have shown little change in reaction to the latest Case-Shiller 20-city Home Price Index. The S&P 500 futures are currently flat.

In economic news, the September Case-Shiller 20-city Home Price Index rose by 3.0%, while a 3.1% increase had been expected by the Briefing.com consensus. This follows the previous month's increase of 2.0%.

Looking at the global markets, European bourses are seeing modest gains after receiving news of an agreement between the Eurozone finance ministers and the International Monetary Fund. Per the accord, Greece will receive EUR34.4 billion in December, and its debt-to-GDP ratio is expected to decline from 190% in 2014 to 124% in 2020. The officials expect the country's financial position to improve if it implements further spending cuts, as agreed. The euro received the news favorably, but surrendered its gains shortly after. Economic data in the region was light, but in the United Kingdom, the second estimate of third quarter GDP indicated growth of 1.0%. Also note that yesterday the Bank of England named Mark Carney as the next governor. Currently, Mr. Carney heads the Bank of Canada.

France's CAC is advancing 0.3% and financials are seeing strength following last night's agreement on Greek financing. Credit Agricole and Societe Generale are seeing respective gains of 1.6% and 2.7%. Meanwhile, defensive telecom and utility stocks are relatively weaker. GDF Suez and France Telecom are both lower by 1.1%.

In the United Kingdom, the FTSE is higher by 0.5% and financials are outperforming as well. Royal Bank of Scotland is advancing 3.9% and Lloyds Banking Group is higher by 2.9%. On the downside, publisher Pearson Group is lower by 1.4% after one of the company's joint ventures issued letters offering employees voluntary severance.

Germany's DAX is firmer by 0.6% and similar to other regional indices, financials are leading the way. Commerzbank and Deutsche Bank are higher by 1.9% and 2.1%, respectively. Deutsche Telekom is among the main laggards as the telecom stock trades lower by 0.6%.

The major Asian bourses were mostly higher as investors gobbled up shares on word European finance ministers were able to agree to terms on a new aid package for Greece. However, China's Shanghai Composite slid 1.3% and was a notable laggard as policy inaction by the new government continues to weigh on shares. Today's selling dropped the Composite below 2000, and to levels last seen in January 2009. The selling came despite Chinese industrial corporate profits surging 20.5% in October. Elsewhere, Moody's announced India's outlook is stable, and that led the Sensex to a gain of 1.7%. Data out overnight was mixed as the Philippines' trade deficit narrowed to $483 million ($370 million expected, $1.26 billion previous) and Thailand's industrial production surged 36.1% year-over-year (29.8% expected). The big jump in Thailand's industrial production comes after flooding made for a low base for last year's reading.

In Japan, the Nikkei added 0.4% as shares ended higher for a fourth consecutive session. Exporters continued to see gains as Toyota Motor and Honda Motor both added more than 1.0%. Real estate stocks were also firm as Sumitomo Mitsui Financial tacked on 1.0%.

Hong Kong's Hang Seng shed 0.1% as commodity-related names posted sound gains. Aluminum maker Chalco added 1.8% and PetroChina gained 1.2%. Meanwhile, exporter Li & Fung slipped 0.6% after a fire at a Bangladesh facility killed at least 120 workers.

In China, the Shanghai Composite settled lower by 1.3% to close at its lowest level in almost four years. Spirit maker Jiugui Liquor plunged the daily limit, 10%, for a third straight session with officials suspending all production lines to replace equipment.

08:33 am : [BRIEFING.COM] S&P futures vs fair value: +0.30. Nasdaq futures vs fair value: +2.00. Equity futures ticked up following the release of the latest durable goods data. The S&P 500 futures are adding 0.1%.

Durable goods orders were unchanged in October, which is better than the 0.4% decrease that had been expected among economists polled by Briefing.com. This comes after the prior month's reading was revised down to reflect an increase of 9.2%.

Excluding transportation related items, durable goods orders increased in October by 1.5%, which is better than the 0.4% decrease that had been broadly anticipated. Prior month's reading was revised from +2.0% to +1.7%.

08:01 am : [BRIEFING.COM] S&P futures vs fair value: flat. Nasdaq futures vs fair value: +1.50. U.S. equity futures are mixed despite upbeat European trade.

Overnight, the global equity markets received the news of an agreement between the Eurozone finance ministers and the International Monetary Fund. Per the agreement, Greece will receive EUR34.4 billion in December, and its debt-to-GDP ratio is expected to decline from 190% in 2014 to 124% in 2020. The officials expect the country's financial position will improve if it implements further spending cuts, as agreed. The euro received the news favorably, but surrendered its gains shortly after. Economic data in the region was light, but in the United Kingdom, the second estimate of third quarter GDP indicated growth of 1.0%. Also note that yesterday the Bank of England named Mark Carney as the next governor. Currently, Mr. Carney heads the Bank of Canada. European bourses are welcoming the Greek deal as they hold their early gains. France's CAC is higher by 0.3%, Germany's DAX is advancing 0.6%, and UK's FTSE is adding 0.4%.

In Asia, Japan's Nikkei added 0.4% as it continued to climb. Elsewhere, the Shanghai Composite lost 1.3% and closed below the 2000 level for the first time in four years. This was despite industrial profits data being reported ahead of expectations. Strangely, it appears sentiment turned sour as the recent better-than-expected news may have tempered calls for additional fiscal or monetary stimulus. Meanwhile, the OECD cut global growth forecasts for both this year and the next. The report called for easing from the European Central Bank, Bank of Japan, People's Bank of China, and the Reserve Bank of India. In addition, the report suggests going over the fiscal cliff would trigger a global recession.

In U.S. corporate news, ConAgra (CAG 28.29, 0.00) will acquire Ralcorp (RAH 88.95, +18.72) for $90 per share, representing a 28.2% premium to RAH's Monday closing price.

Thor (THO 40.63, -2.96) is slipping 6.8% after reporting first quarter earnings of $0.60 on $875.6 million in revenue. The company's bottom line missed the Capital IQ consensus estimate by $0.03 while its revenue was reported in-line with expectations.

Crocs (CROX 13.00, +0.55) is adding 4.5% after Goldman initiated coverage of the stock with a ‘buy' rating.

In today's economic data, October durable orders and durable orders ex-transportation will be reported at 8:30 ET. In addition, September Case-Shiller 20-city Index will be released at 9:00 ET. Lastly, November consumer confidence and September FHFA Housing Price Index will both hit the wires at 10:00 ET.

06:16 am : [BRIEFING.COM] S&P futures vs fair value: -2.50. Nasdaq futures vs fair value: -3.50.

06:16 am : Nikkei...9423.30...+34.40...+0.40%. Hang Seng...21844.03...-17.80...-0.10%.

06:16 am : FTSE...5806.79...+20.10...+0.40%. DAX...7324.85...+32.80...+0.40%.

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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