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 Post subject: December 6th Thursday TF, 6E & CL Futures $1750.00
PostPosted: Fri Dec 07, 2012 6:51 am 
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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: Emini TF ($TF_F) futures @ $1,750.00 dollars or +17.50 points, EuroFX 6E futures @ $0.00 dollars or +0.0000 ticks and Light Crude Oil CL (WTI) futures @ $0.00 dollars or +0.00 points. Total Profit @ $1750.00 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=111&t=1386

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=197&t=1686

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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.

Tech Stocks Boost Market As Apple Rebounds

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

NEW YORK (CNNMoney)
U.S. stocks closed slightly higher for a second day Thursday, thanks to strength from the technology sector, including Apple's 1.6% rise. But the gains were limited as investors refrained from making big bets as long as the fiscal cliff remains unresolved.

The Dow Jones industrial average and S&P 500 rose 0.3%, while the tech-heavy Nasdaq added 0.5%.

President Obama told members of the Business Roundtable on Wednesday that there has been "some movement" on the Republican side toward allowing rates to rise on high-income taxpayers. If this continues, he said, "we can probably solve this in about a week."

If lawmakers fail to strike a deal before the end of the year to avert the $500 billion in scheduled tax increases and spending cuts, they risk pushing the U.S. economy into recession.

"Normally, the markets like certainty," said Doug Cote, chief market strategist at ING Investment Management. But investors "are unlikely to react positively" to what appears to be the country's first "scheduled recession, absent Congressional action," Cote said.

Investors also continued to keep an eye on the latest labor reports leading up to the closely watched monthly jobs report due Friday. The Labor Department reported Thursday that the number of Americans filing for first-time unemployment benefits dropped 25,000 to 370,000 last week.

Economists surveyed by CNNMoney predict that Friday's report will show the U.S. economy added only 77,000 jobs in November, a sharp drop from the previous month, when 171,000 jobs were created.

On the corporate front, Apple (AAPL, Fortune 500) shares rose, following a two-day loss of 8%. In an interview with NBC's Brian Williams scheduled to air Thursday evening, Apple CEO Tim Cook said Apple will begin manufacturing one of its existing Mac line of computers exclusively in the United States next year.

Yoga apparel maker lululemon athletica (LULU)'s third-quarter earnings topped expectations. Though guidance for the fourth quarter fell short of forecasts, its shares gained more than 7%.

Shares of Zynga (ZNGA) surged after the company said it had filed an application for a gaming license in Nevada, taking a step towards real-money gaming, or RMG. Zynga has been struggling to make money off what appears to be the waning popularity of its social-network based games.

Fear and Greed Index back in Fear mode

European markets closed higher, with Nokia (NOK) leading the way after China Mobile (CHL)agreed to sell the Finnish company's flagship smartphones the Lumia 920.

The European Central Bank slashed its growth and inflation forecasts for 2013, raising the prospect of a further easing in monetary policy next year, after it kept interest rates on hold Thursday.

Asian markets ended mixed. Japan's Nikkei got a boost from a weakening yen and new polls ahead of Election Day.

The dollar gained ground versus the euro and the British pound, but slipped against the Japanese yen.

Oil for January delivery declined 1.8% to settle at $86.26 a barrel. Gold for February delivery rose 0.5% to settle at $1,701.80 an ounce.

The price of the 10-year Treasury rose, pushing the yield down to 1.58% from 1.59% late Wednesday.

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Market Update

4:20 pm : Today's session opened with initial uncertainty before the major averages staged a climb to their respective highs. Overseas, Standard & Poor's lowered Greece's long term credit rating to ‘Select Default' from ‘CCC.' Meanwhile, Germany's DAX closed at its highest level in nearly five years. Domestically, trade was confined to a narrow range, but late-day buying lifted the S&P 500 to a slim gain of 0.3%.

The technology sector was the top performer, and the SPDR Technology Select Sector ETF (XLK 28.91, +0.16) advanced 0.6%. Apple (AAPL 547.24, +8.45) was down as much as 3.0% in early trade, but after marking its session low at $518.63, the stock reversed and finished higher by 1.6%.

Elsewhere, Akamai Technologies (AKAM 39.06, +3.56) surged 10.0% after the company announced a global strategic alliance with AT&T (T 33.65, -0.26). The newly forged partnership will allow Akamai to deploy CDN servers on the AT&T network in order to improve content routing and its delivery.

Remaining in the sector, major hard drive makers enjoyed their third strong session in a row. Seagate (STX 28.53, +0.93) and Western Digital (WDC 37.10, +1.07) both added near 3.0%.

Financials registered slim gains and the SPDR Financial Select Sector ETF (XLF 15.90, +0.05) tacked on 0.3%. Citigroup (C 37.02, +0.56) was the top performer among the majors. The stock settled higher by 0.9% to extend yesterday's 6.3% rally sparked by the announcement of plans to dismiss more than 11,000 employees.

Looking at European financials, Deutsche Bank (DB 45.49, -0.58) slid 1.3% after reports from Reuters indicated the bank may have hid up to $12 billion in losses in order to avoid having to accept a government bailout.

Also of note, HSBC Holdings (HBC 51.75, -0.12) shed 0.2% after Reuters reported the company may be facing a $1.8 billion money-laundering fine. The industrial sector was the weakest performer and manufacturers of building products weighed. Lennox International (LII 51.07, -0.49) and Masco (MAS 15.78, -0.43) fell 1.0% and 2.7%, respectively.

Elsewhere, UTi Worldwide (UTIW 12.88, -1.15) slid 8.2% after reporting disappointing earnings. During the third quarter, the supply chain manager earned $0.16, which was $0.09 worse than the Capital IQ consensus estimate. Meanwhile, its revenue of $1.13 billion also missed expectations. When commenting on its past performance and the future outlook, company management said, "Macroeconomic and freight conditions remained weak throughout our fiscal 2013 third quarter, and we see no real catalysts to drive increases in the foreseeable future."

The Dow Jones Transportation Average underperformed and shed 0.1%. Most transportation stocks were on the decline and CH Robinson (CHRW 60.64, -1.27) was the biggest laggard. The freight carrier finished lower by 2.1% and other truckers registered losses as well.

With crude oil settling lower by 1.7%, airlines outperformed. Delta Air Lines (DAL 10.02, +0.31) gained 3.2% and was the best performing carrier. Earlier, the company has finalized its agreement with Bombardier Aerospace, which will allow Delta to continue renovating its domestic fleet by replacing its least efficient jets.

The latest weekly initial jobless claims count totaled 370,000, which is lower than the 382,000 that had been expected by the Briefing.com consensus. The tally is below the revised prior week count of 395,000. As for continuing claims, they fell to 3.205 million from 3.305 million.

November Challenger Job Cuts rose by 34.4% year-over-year after the prior month's reading pointed to an 11.6% increase.

In tomorrow's economic data, November nonfarm payrolls, nonfarm private payrolls, unemployment rate, hourly earnings, and average workweek will all be released at 8:30 ET. In addition, December Michigan Sentiment and October consumer credit will be reported at 9:55 ET and 15:00 ET, respectively.DJ30 +39.55 NASDAQ +15.57 SP500 +4.66 NASDAQ Adv/Vol/Dec 1223/1.66 bln/1234 NYSE Adv/Vol/Dec 1586/617.1 mln/1434

3:30 pm : Crude oil fell deeper into negative territory on pressure from a stronger dollar index following the European Central Bank's reduction of Eurozone growth estimates. Crude retreated from its session high of $87.09 per barrel and closed pit trade with a 1.8% loss at $86.26 per barrel.

Natural gas popped to a session high of $3.75 per MMBtu on strong inventory data that showed a draw of 73 bcf when a draw of 70 bcf was anticipated. The move was short-lived, however, and prices plunged back into negative territory to a session low of $3.61 per MMBtu. Natural gas eventually settled with a 1.6% loss at $3.66 per MMBtu.

Gold traded back above the $1700.00 per ounce level on ECB's lowered growth forecasts. The yellow metal lifted off its pit session low of $1687.10 per ounce and traded up to a session high of $1704.80 per ounce. It spent afternoon trade chopping around in a tight range just below that level and settled with a 0.4% gain at $1701.50 per ounce. Silver also popped into positive territory after trading as low as $32.60 per ounce in morning action. It pulled back off its session high of $33.33 per ounce and settled at $33.13 per ounce, or 0.6% higher.DJ30 +18.16 NASDAQ +8.94 SP500 +2.11 NASDAQ Adv/Vol/Dec 1094/1380.9 mln/1357 NYSE Adv/Vol/Dec 1396/421 mln/1597

3:00 pm : The S&P 500 is adding 0.2% as it maintains its recent levels.

Only a handful of companies will report their earnings before the end of the week. Following today's close, Harry Winston Diamond (HWD 14.36, +0.35) and Smith & Wesson (SWHC 10.83, +0.25) are among the notable names scheduled to report. The Capital IQ consensus expects Harry Winston Diamond to report earnings of $0.12 on $216.70 million in revenue. Meanwhile, Smith & Wesson is expected to announce earnings of $0.24 on revenue of $136.14 million.DJ30 +17.28 NASDAQ +11.53 SP500 +2.49 NASDAQ Adv/Vol/Dec 1156/1.27 bln/1285 NYSE Adv/Vol/Dec 1415/382.4 mln/1554

2:35 pm : The major averages are holding their recent levels and the S&P 500 is higher by 0.2%.

Financials are registering slim gains and the SPDR Financial Select Sector ETF (XLF 15.88, +0.03) is adding 0.2%. Citigroup (C 36.78, +0.32) is the top performer among the majors. The stock is higher by 0.9% to extend yesterday's 6.3% rally sparked by the announcement of plans to dismiss more than 11,000 employees.

Looking at European financials, Deutsche Bank (DB 45.40, -0.67) is down 1.5% after reports from Reuters indicated the bank may have hid up to $12 billion in losses in order to avoid having to accept a government bailout.

Also of note, HSBC Holdings (HBC 51.72, -0.15) is off by 0.3% after Reuters reported the company may be facing a $1.8 billion money-laundering fine.DJ30 +24.34 NASDAQ +16.73 SP500 +3.77 NASDAQ Adv/Vol/Dec 1199/1.18 bln/1246 NYSE Adv/Vol/Dec 1468/355.8 mln/1508

2:00 pm : The S&P 500 is firmer by 0.2% as the index attempts to return to its session high.

Despite crude oil trading lower by 2.1%, the energy sector is seeing little change. Coal stocks are contributing to the sector performance as most major names see gains following month-long weakness. The Market Vectors Coal ETF (KOL 24.14, +0.15) is higher by 0.6% as it trades just below its 50-day moving average.

Walter Energy (WLT 33.58, +1.92) is surging 6.1% as it outperforms its peers. Today's strength comes after earlier reports indicated the company may be a takeover target for BHP Billiton (BHP 72.62, +0.10). BHP has since come out to deny the rumors, but shares of Walter Energy continue to trade higher.DJ30 +10.80 NASDAQ +15.99 SP500 +2.65 NASDAQ Adv/Vol/Dec 1174/1.07 bln/1246 NYSE Adv/Vol/Dec 1441/324.2 mln/1520

1:35 pm : The S&P 500 is higher by 0.1% as range bound trade continues.

The Dow Jones Transportation Average is lower by 0.6% as it trails the industrial sector. Most transportation stocks are on the decline and CH Robinson (CHRW 60.68, -1.23) is the biggest laggard. The freight carrier is lower by 2.0% and other truckers are trading lower also.

As crude oil trades lower by 2.0%, airlines are outperforming. Delta Air Lines (DAL 9.95, +0.24) is higher by 2.4% and is the best performing air carrier. Earlier, the company has finalized its agreement with Bombardier Aerospace, which allows Delta to continue renovating its domestic fleet by replacing its least efficient jets.DJ30 +8.19 NASDAQ +12.29 SP500 +1.76 NASDAQ Adv/Vol/Dec 1141/1.00 bln/1279 NYSE Adv/Vol/Dec 1402/305.8 mln/1555

1:00 pm : Equities are little changed through the first half of the session. Contributing to the uncertainty was news out of Europe where Standard & Poor's downgraded Greece to ‘Select Default' from ‘CCC.' In addition, Reuters reported that Deutsche Bank (DB 45.30, -0.77) may have hid as much as $12 billion in losses in order to avoid having to accept a government bailout. Despite a morning rally to its session highs, the S&P 500 has surrendered its early gains, and the index trades flat at midday.

The technology sector is the top performer, and the SPDR Technology Select Sector ETF (XLK 28.85, +0.10) trades higher by 0.4%. Apple (AAPL 546.39, +7.59) was down as much as 3.0% in early trade. However, after marking its session low at $518.63, the stock has reversed and is now higher by 1.5%.

Elsewhere, Akamai Technologies (AKAM 38.70, +3.20) is surging 9.0% after the company announced a global strategic alliance with AT&T (T 33.74, -0.17). The newly forged agreement will allow Akamai to deploy CDN servers on the AT&T network in order to improve content routing and its delivery.

Also of note, major hard drive makers are enjoying their third strong session in a row. Seagate (STX 28.29, +0.69) and Western Digital (WDC 36.83, +0.80) are both up near 2.3%.

The industrial sector is the weakest performer and manufacturers of building products are among the biggest laggards. Gibraltar Industries (ROCK 13.98, -0.25) and Masco (MAS 15.77, -0.44) are down 1.8% and 2.7%, respectively.

Elsewhere, UTi Worldwide (UTIW 12.89, -1.14) is sliding 8.2% after reporting disappointing earnings. During the third quarter, the supply chain manager earned $0.16, which was $0.09 worse than the Capital IQ consensus estimate. Meanwhile, its revenue of $1.13 billion also missed expectations. When commenting on its past performance and the future outlook, company management said, "Macroeconomic and freight conditions remained weak throughout our fiscal 2013 third quarter, and we see no real catalysts to drive increases in the foreseeable future."

On the upside, airlines are outperforming as crude oil trades lower by 2.0%. Alaska Air (ALK 42.64, +0.17) and Allegiant Travel (ALGT 74.98, +1.19) are seeing respective gains of 0.4% and 1.6%.

Two apparel companies are under pressure after reporting earnings. Formalwear retailer Men's Wearhouse (MW 30.77, -0.58) is sliding 1.9% after missing on the bottom line. During the third quarter, the formalwear retailer earned $0.95, which was $0.03 short of the Capital IQ consensus estimate. However, the company's revenue of $631 million was in-line with expectations. It should be noted that guidance was a point of concern as the management sees fourth quarter earnings and revenue below current analyst estimates.

Meanwhile, Vera Bradley (VRA 22.79, -3.42) earned $0.44 on $138.3 million in revenue. Both figures were ahead of expectations, but the stock is falling 13.1% due to disappointing fourth quarter earnings and revenue guidance.

The latest weekly initial jobless claims count totaled 370,000, which is lower than the 382,000 that had been expected by the Briefing.com consensus. The tally is below the revised prior week count of 395,000. As for continuing claims, they fell to 3.205 million from 3.305 million.

November Challenger Job Cuts rose by 34.4% year-over-year after the prior month's reading pointed to an 11.6% increase.DJ30 -14.05 NASDAQ +8.34 SP500 -0.69 NASDAQ Adv/Vol/Dec 1093/923.1 mln/1305 NYSE Adv/Vol/Dec 1283/279.6 mln/1659

12:35 pm : The S&P 500 has surrendered its early gains and the benchmark index now trades flat.

MGM Resorts (MGM 10.81, +0.84) is surging 8.3% after announcing the commencement of a tender offer for its senior secured notes. Today's buying has lifted the stock past its 50-day moving average and puts it at levels last seen in late October.

Meanwhile, other Casino stocks are seeing strength as well. On Tuesday, Chinese ADRs came under pressure after the Securities and Exchange Commission announced charges against the Chinese affiliates of Big 4 accounting firms. The charges raised concern about the quality of financial statements of U.S.-listed Chinese stocks. As such, Chinese casino stocks suffered an initial sell-off, but are rebounding from the weakness. Asia Entertainment (AERL 3.01, +0.19) is surging 6.8% and Melco Crown Entertainment (MPEL 14.65, +0.26) is adding 1.8%.DJ30 -4.15 NASDAQ +10.49 SP500 +0.61 NASDAQ Adv/Vol/Dec 1068/863.5 mln/1314 NYSE Adv/Vol/Dec 1310/260.7 mln/1606

12:00 pm : The major averages are holding their recent levels and the S&P 500 is higher by 0.2%.

Two apparel companies are under pressure after reporting earnings. Formalwear retailer Men's Wearhouse (MW 30.05, -1.30) is sliding 4.1% after missing on the bottom line. During the third quarter, the formalwear retailer earned $0.95, which was $0.03 short of the Capital IQ consensus estimate. However, the company's revenue of $631 million was in-line with expectations. It should be noted that guidance was a point of concern as the management sees fourth quarter earnings and revenue below current analyst estimates.

Meanwhile, Vera Bradley (VRA 23.40, -2.81) earned $0.44 on $138.3 million in revenue. Both figures were ahead of expectations, but the stock is falling 10.7% due to disappointing fourth quarter earnings and revenue guidance.DJ30 +8.74 NASDAQ +18.10 SP500 +2.55 NASDAQ Adv/Vol/Dec 1218/766.5 mln/1132 NYSE Adv/Vol/Dec 1464/231.8 mln/1437

11:30 am : The major averages have notched fresh highs and the S&P 500 is adding 0.3%.

The technology sector is the top performer and the SPDR Technology Select Sector ETF (XLK 28.92, +0.17) trades higher by 0.6%.

Apple (AAPL 549.06, +10.27) was down as much as 3.0% in early trade. However, after marking its session low at $518.63, the stock reversed and is now higher by 1.9%.

Elsewhere, Akamai Technologies (AKAM 38.84, +3.34) is surging 9.4% after the company announced a global strategic alliance with AT&T (T 33.79, -0.12). The newly forged agreement will allow Akamai to deploy CDN servers on the AT&T network in order to improve content routing and its delivery.

Also of note, major hard drive makers are enjoying their third strong session in a row. Seagate (STX 28.23, +0.63) and Western Digital (WDC 36.82, +0.79) are both up near 2.2%.DJ30 +20.04 NASDAQ +17.01 SP500 +3.25 NASDAQ Adv/Vol/Dec 1176/667.3 mln/1121 NYSE Adv/Vol/Dec 1483/204.1 mln/1394

11:00 am : The major averages have shaken off the early weakness as the three main indices trade near their respective highs. The S&P 500 is adding 0.2%.

The industrial sector is the weakest performer and manufacturers of building products are among the weakest performers. Gibraltar Industries (ROCK 13.87, -0.36) and Universal Forest Products (UFPI 36.02, -0.76) are down 2.5% and 2.1%, respectively.

Elsewhere, UTi Worldwide (UTIW 13.07, -0.96) is sliding 6.9% after reporting disappointing earnings. During the third quarter, the supply chain manager earned $0.16, which was $0.09 worse than the Capital IQ consensus estimate. Meanwhile, its revenue of $1.13 billion also missed expectations. When commenting on its past performance and the future outlook, company management said, "Macroeconomic and freight conditions remained weak throughout our fiscal 2013 third quarter, and we see no real catalysts to drive increases in the foreseeable future."

On the upside, airlines are outperforming as crude oil trades lower by 2.0%. JetBlue Airways (JBLU 5.25, +0.03) and SkyWest (SKYW 11.64, +0.07) are both up near 0.5%.DJ30 +17.62 NASDAQ +17.04 SP500 +3.07 NASDAQ Adv/Vol/Dec 1171/567.5 mln/1099 NYSE Adv/Vol/Dec 1463/177.5 mln/1373

10:30 am : Commodities are mixed this morning with energy lower and precious metals higher. The dollar index has rallied higher this morning, which has been a primary component in pulling the energy market lower.

Ahead of weekly inventory data figures, natural gas futures were -0.6% at $3.68/MMBtu. Following the data, which showed a dfraw of 73 vs expectations for a draw of 70, nat gas spiked to a new HoD and is now +0.5% at $3.72/MMBtu.

Crude oil sold off hard this morning, which began just after 6am EST. Jan crude's early morning high was $88.23, but after the sell-off, crude pulled back as much as $1.96/barrel as it hit a new LoD at $86.37. Currently, crude is -1.4% at $86.69/barrel.

Gold and silver just rallied a short while ago to new session highs (Gold $1699.40, Silver $33.22). Feb gold is now +0.2% at $1697.70/oz and Mar silver is +0.5% at $33.14/oz. Mar copper is currently -0.3% at $3.68/lb.DJ30 -11.21 NASDAQ +1.34 SP500 -1.20 NASDAQ Adv/Vol/Dec 908/425.3 mln/1290 NYSE Adv/Vol/Dec 1165/140 mln/1588

10:00 am : The S&P 500 is off by 0.2% as defensive trade appears to be favored in the early going. Consumer staples, telecoms, and utilities are all outperforming.

Among staple stocks, Safeway (SWY 18.53, +1.07) is higher by 6.1% after the Board of Directors declared and approved an acceleration of its regular quarterly cash dividend of $0.175.

In telecoms, MetroPCS (PCS 10.18, +0.08) and Verizon Communications (VZ 44.37, +0.27) are both up near 0.7%.

Glancing at utilities, NRG Energy (NRG 22.04, +0.31) and UNS Energy (UNS 43.06, +0.35) are seeing respective gains of 1.3% and 0.8%.DJ30 -17.36 NASDAQ +0.43 SP500 -1.91 NASDAQ Adv/Vol/Dec 855/276.3 mln/1235 NYSE Adv/Vol/Dec 1102/99.5 mln/1587

09:45 am : The major averages are showing divergence in the early going. The Dow is higher by 0.1%, while Nasdaq is off by 0.1%.

The tech-heavy index is lagging the broader market as Apple (AAPL 530.40, -8.39) trades lower by 1.5%. The early weakness has resulted in Apple's market cap falling below $500 billion.

Even though Apple is underperforming, other tech names are seeing strength. Hewlett-Packard (HPQ 13.97, +0.15), Intel (INTC 20.14, +0.29), and Microsoft (MSFT 26.80, +0.12) are all up between 0.5% and 1.5% as they contribute to the relative strength of the Dow Jones Index.DJ30 +3.50 NASDAQ -2.05 SP500 -1.69 NASDAQ Adv/Vol/Dec 881/177.1 mln/1147 NYSE Adv/Vol/Dec 1134/71.1 mln/1467

09:16 am : [BRIEFING.COM] S&P futures vs fair value: -2.20. Nasdaq futures vs fair value: -5.30. Heading into the open, equity futures continue to trade near their pre-market lows and the S&P 500 futures are off by 0.2%.

Following its largest one-day percentage drop yesterday, Apple (AAPL 531.77, -7.02) is shedding 1.3% in pre-market trade.

Elsewhere, coal stocks are garnering some interest after British press suggested Walter Energy (WLT 34.00, +2.34) may be a takeover target. Alpha Natural Resources (ANR 8.23, +0.16) and Arch Coal (ACI 7.33, +0.11) are both up near 1.7%.

09:03 am : [BRIEFING.COM] S&P futures vs fair value: -2.30. Nasdaq futures vs fair value: -5.30. Equity futures are near their pre-market lows and the S&P 500 futures are off by 0.2%.

In Europe, S&P cut Greece's long-term debt rating to 'Select Default' from 'CCC.' In addition two Central Banks opined and released their interest rate decisions. The Bank of England held its benchmark interest rate unchanged at 0.50% and made no change to their GBP375 billion purchasing program. Similarly, the European Central Bank also held its rates unchanged at 0.75%. During his press conference, European Central Bank President Mario Draghi said the Bank has lowered its growth forecasts as downside risks remain present. In addition, the bank president said governments must reduce their fiscal structural imbalances and the U.S. fiscal position may further dampen confidence. In economic news, the Eurozone third quarter GDP was in-line with expectations and pointed to a 0.1% quarter-over-quarter contraction. In addition, France's unemployment rate of 10.3% was better-than-feared.

France's CAC is flat and European Aeronautic Defence and Space Company is leading the index. The defense contractor is surging 7.7% after announcing changes to the shareholder structure and saying it will engage in a share buyback. On the downside, GDF Suez is sliding 12.1% after the company warned next year's earnings will fall due to economic headwinds.

In the United Kingdom, the FTSE is higher by 0.3% and miners are showing relative strength. Antofagasta, Evraz, and Vedanta Resources are all up between 2.0% and 3.1%. Meanwhile, aircraft and ship engine maker Rolls Royce is lower by 3.3% after discovering malpractice in overseas transactions. The U.K. Serious Fraud Office is investigating the matter and the company said it will also conduct external review.

Germany's DAX is advancing 0.8%. Drug maker Bayer is firmer by 3.9% after applying for regulatory clearance in order to market a new eye medicine. Meanwhile, Deutsche Bank is the biggest laggard. The financial trades lower by 0.8% after Reuters reported the bank may have hid $12 billion in losses in order to avoid having to accept a government bailout.

The major Asian bourses ended mixed with Japan's Nikkei (+0.8%) outperforming on word Shinzo Abe remains on track to unseat sitting Prime Minister Yoshihiko Noda in the December 16 election. Elsewhere, India's Sensex (+0.5%) was a top performer after the BSP party said it would support the government's push for foreign direct investment in supermarkets. Data out overnight showed South Korean GDP miss estimates with a 0.1% quarter-over-quarter advance (0.2% expected) and Australia's employment change climb 13.9K (0.2K expected) and the unemployment rate slip to 5.2% (5.5% expected, 5.4% previous). However, looking more closely at the numbers, full-time employment fell by 4,200 while part-time employment rose by 18,100.

In Japan, the Nikkei closed higher by 0.8% to end at its best level in seven months. Exporters continued to display strength due to a weaker yen as Honda Motor climbed 1.6% and Canon rose 2.6%. Meanwhile, Sharp surged 9.9% after Hon Hai Precision's chairman suggested the recent deal with Qualcomm will not prevent his company from attempting to become the largest shareholder.

In Hong Kong, the Hang Seng shed 0.1% as trade took a breather at 16-month highs. HSBC slumped 0.5% on reports the company may pay a $1.8 billion fine to settle money-laundering charges with the U.S. On the upside, fashion giant Prada rallied 2.4% ahead of its earnings report.

In China, the Shanghai Composite slipped 0.1% as financials provided support. Beijing Bank was a top performer, tacking on 3.2%. Meanwhile, spirit maker Kweichow Moutai dropped another 3.9% on worries independent tests in Hong Kong may show excessive levels of plasticizer.

08:31 am : [BRIEFING.COM] S&P futures vs fair value: -0.80. Nasdaq futures vs fair value: -3.00. U.S. equity futures have shown little change in reaction to the latest claims data. The S&P 500 futures are off by 0.1%.

The latest weekly initial jobless claims count totaled 370,000, which is lower than the 382,000 that had been expected by the Briefing.com consensus. The tally is below the revised prior week count of 395,000. As for continuing claims, they fell to 3.205 million from 3.305 million.

08:10 am : [BRIEFING.COM] S&P futures vs fair value: -0.80. Nasdaq futures vs fair value: -1.50. U.S. equity futures are flat amid mostly positive European trade.

Overnight, the global equity markets were mixed. In Asia, Japan's Nikkei outperformed with a gain of 0.8% after a new poll suggested the opposition LDP party would win more than 50% of the lower house seats. Meanwhile, China's Shanghai Composite and Hong Kong's Hang Seng both shed 0.1%. Elsewhere, a Reserve Bank of Australia Governor commented that the global outlook appears less threatening and China seems to be stronger. Meanwhile, a Chinese state economist suggested the economy is stabilizing, but he doesn't see a V-shaped recovery.

In Europe, the S&P cut Greece's long-term debt rating to 'Select Default' from 'CCC.' In addition two Central Banks opined and released their interest rate decisions. The Bank of England held its benchmark interest rate unchanged at 0.50% and made no change to their GBP375 billion purchasing program. Similarly, the European Central Bank also held its rates unchanged at 0.75%. In economic news, the Eurozone third quarter GDP was in-line with expectations and pointed to a 0.1% quarter-over-quarter contraction. In addition, France's unemployment rate of 10.3% was better-than-feared. Looking at regional indices as midday nears, France's CAC and United Kingdom's FTSE are both adding 0.3% while Germany's DAX is higher by 1.0% as it outperforms.

In U.S. corporate news, Deutsche Bank (DB 45.53, -0.54) is down 1.2% after Reuters reported the bank may have hid $12 billion in losses in order to avoid having to accept a government bailout.

Walter Energy (WLT 33.50, +1.84) is jumping 5.8% after two British newspapers suggested the company may be a takeover target.

Men's Wearhouse (MW 27.99, -3.35) is slumping 10.7% after the company missed on earnings. During the third quarter, the formalwear retailer earned $0.95, which was $0.03 short of the Capital IQ consensus estimate. However, the company's revenue of $631 million was in-line with expectations. The company's guidance was a point of concern as the management sees fourth quarter earnings and revenue below analyst estimates.

November Challenger Job Cuts rose by 34.4% year-over-year after the prior month's reading pointed to a 11.6% increase.

Today's economic data will focus on jobs as weekly initial and continuing claims will be released at 8:30 ET.

06:21 am : [BRIEFING.COM] S&P futures vs fair value: +0.50. Nasdaq futures vs fair value: +2.50.

06:21 am : Nikkei...9545.16...+76.30...+0.80%. Hang Seng...22249.81...-21.10...-0.10%.

06:21 am : FTSE...5906.05...+14.00...+0.20%. DAX...7531.68...+77.10...+1.00%.

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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