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 Post subject: December 13th Thursday TF, 6E & CL Futures $650.00
PostPosted: Thu Dec 13, 2012 10:56 pm 
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Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
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 @ $650.00 dollars or +6.50 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 @ $650.00 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=1391

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.

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Market Update

4:15 pm : The major averages began the day on a mixed note before selling pressure pushed the key indices to their respective lows. This morning, House Speaker John Boehner addressed the media in Washington. During his remarks, the speaker suggested President Obama is not serious about cutting spending, and the White House is willing to go over the fiscal cliff. Mr. Boehner's remarks had little impact on the markets, which continued pushing to fresh lows. However, a late-afternoon headline indicated Speaker Boehner and President Obama will meet in person at 17:00 ET. The report lifted the S&P 500 off its worst level of the day, but the benchmark index still finished with a loss of 0.6%.

The energy sector underperformed, and the SPDR Energy Select Sector ETF (XLE 71.49, -0.67) lost 0.9%. Looking at notable decliners, Nabors Industries (NBR 13.85, -0.68) fell 4.7% after Jefferies downgraded the stock to ‘Underperform' from ‘Hold.'

Anadarko Petroleum (APC 74.75, -0.79) slid 1.1% despite Jefferies making positive comments about the company. The remarks followed the closing arguments in the court case brought against APC by chemical producer Tronox (TROX 15.58, -0.47).

Elsewhere in energy, coal stocks were mixed. CONSOL Energy (CNX 33.81, -0.44) shed 1.3% while Walter Energy (WLT 36.26, +0.39) advanced 1.1%.

Technology stocks lagged notably and Apple (AAPL 529.69, -9.31) slipped 1.7%. Semiconductor manufacturers also weighed as the PHLX Semiconductor index settled lower by 1.1%. Among individual producers, Cirrus Logic (CRUS 27.41, -1.71) was the biggest laggard, down 5.9%.

Consumer staples outperformed the remaining S&P 500 sectors. Boston Beer (SAM 131.94, +17.71) surged 15.5% after the brewer raised its 2012 earnings expectations as well as the 2013 depletion projections. Following the update, the company sees 2012 earnings between $4.30 and $4.60, while the Capital IQ consensus estimate expects earnings at $4.24 per share.

Elsewhere, B&G Foods (BGS 29.53, +1.06) rose by 3.7% following an upgrade to ‘Outperform' from ‘Sector Perform' at RBC Capital Markets.

Also of note, CVS Caremark (CVS 48.50, +0.96) added 2.0% after raising its dividend by 38% to $0.22 per share. In addition, the company guided full-year earnings above consensus estimates.

Recent strength in defense stocks has lifted the PHLX Defense Sector Index to an all-time high. After reaching fresh highs on Wednesday, the index has been under pressure. Today, the defense index slid 1.0% and 15 of 17 components declined. Aircraft manufacturers Lockheed Martin (LMT 89.99, -1.82) and Embraer (ERJ 25.10, -0.71) were the two weakest performers, down 2.0% and 2.8%, respectively. Earlier, the New York Times reported the Canadian government will reconsider its planned purchase of F-35 fighter jets from Lockheed Martin due to high costs.

In notable news, Best Buy (BBY 14.12, +1.94) spiked 15.9% after CNBC reported company founder Richard Schulze is expected to submit a bid worth between $5 and $6 billion in his attempt to take the company private by week's end. Also of note, Chief Financial Officer Sharon McCollam bought over 100,000 shares on December 10, 2012.

The market received several economic reports today, and the data points were largely in-line with expectations. The latest weekly initial jobless claims count totaled 343,000, which was lower than the 375,000 that had been expected by the Briefing.com consensus. The tally was also below the revised prior week count of 372,000. As for continuing claims, they fell to 3.198 million from 3.221 million.

November retail sales rose by 0.3%, which was slightly worse than the 0.4% increase that had been broadly expected. The prior month's reading pointed to a decrease of 0.3%. Excluding autos, retail sales were unchanged, which was in-line with the Briefing.com consensus.

Overall producer prices declined during November by 0.8%, which was cooler than the 0.5% decrease that had been widely forecast. Core producer prices rose by 0.1%, which was in-line with the Briefing.com consensus.

During October, inventories rose by 0.4%, which was in-line with the Briefing.com consensus. Today's reading follows the prior month's increase of 0.7%.

Tomorrow morning, November CPI and core CPI will be reported at 8:30 ET. Lastly, November industrial production and capacity utilization will be announced at 9:15 ET.DJ30 -74.73 NASDAQ -21.65 SP500 -9.03 NASDAQ Adv/Vol/Dec 929/1.78 bln/1546 NYSE Adv/Vol/Dec 911/663.2 mln/2120

3:30 pm : Crude oil fell after two sessions of gains as renewed concerns over the "fiscal cliff" overshadowed yesterday's Fed announcement. The energy component briefly poked into positive territory and touched a session high of $86.97 per barrel. However, prices quickly tumbled as low as $85.81 per barrel and settled the session 1.0% lower at $85.90 per barrel.

Natural gas extended yesterday's losses, falling to a session low of $3.29 per MMBtu following weaker-than-anticipated inventory data that showed a build of 2 bcf when a draw of 3 to 4 bcf was expected. Despite inching upwards in afternoon pit action, it settled 0.9% lower at $3.35 per MMBtu.

Precious metals fell as yesterday's Fed-related momentum faded and investors reacted to economic data that included better-than-anticipated Jobless Claims and weak Retail Sales. Gold dipped to a session low of $1690.70 per ounce in morning floor action and spent the remainder of the session chopping around just slightly above that level. It eventually settled at $1697.10 per ounce, or 1.2% lower. Silver inched lower into negative territory after sliding off its session high of $32.81 per ounce. It touched a session low of $32.28 per ounce moments before closing with a 4.2% loss at $32.38 per ounce.DJ30 -91.18 NASDAQ -28.63 SP500 -11.24 NASDAQ Adv/Vol/Dec 831/1478.3 mln/1635 NYSE Adv/Vol/Dec 738/424 mln/2275

3:00 pm : The S&P 500 is lower by 0.7% as trade enters the final hour.

Only five companies covered by Briefing.com are scheduled to report their quarterly results between today's close and tomorrow's open. Most notably, Adobe Systems (ADBE 35.57, -0.38) and Quiksilver (ZQK 4.03, +0.02) will report after today's close. The Capital IQ consensus expects Adobe to report earnings of $0.56 on $1.10 billion in revenue. Elsewhere, Quiksilver is expected to announce $0.09 in earnings on revenue of $566.15 million.DJ30 -81.71 NASDAQ -26.14 SP500 -10.20 NASDAQ Adv/Vol/Dec 868/1.35 bln/1588 NYSE Adv/Vol/Dec 755/390.5 mln/2250

2:30 pm : The S&P 500 is down 0.7% as the benchmark average remains near its session low.

Defense stocks have seen recent strength which has lifted the PHLX Defense Sector Index to an all-time high. Since reaching that level on Wednesday, the index has entered retreat mode. Today, the defense index is lower by 1.0% and 16 of 17 components are seeing losses. Aircraft manufacturers Lockheed Martin (LMT 89.90, -1.91) and Embraer (ERJ 25.12, -0.70) are the two weakest performers, down 2.1% and 2.8%, respectively. Earlier, the New York Times reported Canadian government will reconsider purchasing F-35 fighter jets from Lockheed Martin due to high costs.DJ30 -74.92 NASDAQ -27.67 SP500 -10.29 NASDAQ Adv/Vol/Dec 840/1.26 bln/1602 NYSE Adv/Vol/Dec 777/361.8 mln/2210

2:00 pm : The S&P 500 is off by 0.7% as the major averages continue to trade lower.

The consumer staples space is outperforming the remaining S&P 500 sectors. Boston Beer (SAM 131.39, +17.16) is surging 15.0% after the brewer raised its 2012 earnings expectations as well as the 2013 depletion projections. Following the update, the company sees 2012 earnings between $4.30 and $4.60, while the Capital IQ consensus estimate expects earnings at $4.24 per share.

Elsewhere, B&G Foods (BGS 29.55, +1.08) is rising by 3.8% following an upgrade to ‘Outperform' from ‘Sector Perform' at RBC Capital Markets.

Lastly, CVS Caremark (CVS 48.43, +0.89) is adding 1.9% after raising its dividend by 38% to $0.22 per share. In addition, the company guided full-year earnings above consensus estimates.DJ30 -64.09 NASDAQ -23.05 SP500 -9.39 NASDAQ Adv/Vol/Dec 949/1.17 bln/1499 NYSE Adv/Vol/Dec 910/333.1 mln/2073

1:30 pm : The Dow continues to trade near its session low, down 0.4%.

The Dow Jones Transportation Average is unchanged as airlines contribute to the outperformance of the bellwether complex. Of the five advancing carriers, United Continental (UAL 22.70, +1.29) and Delta Air Lines (DAL 11.15, +0.43) are the top performers. The two are seeing respective gains of 6.0% and 4.0% as they continue their recent strength.

On the downside, transportation equipment lessors are seeing weakness. Ryder System (R 48.97, -0.27) is slipping 0.6% and GATX (GMT 42.46, -0.36) is shedding 0.8%.DJ30 -55.37 NASDAQ -21.47 SP500 -8.16 NASDAQ Adv/Vol/Dec 962/1.09 bln/1452 NYSE Adv/Vol/Dec 926/307.9 mln/2030

1:00 pm : Stocks got off to a quiet start and first-hour trade was confined to a narrow range. The initial indecision was followed by a slide to session lows after House Speaker John Boehner addressed the media in Washington. During his remarks, the Speaker said President Obama is not serious about cutting spending and the White House is willing to go over the fiscal cliff. At midday, the S&P 500 is off by 0.6% as it continues to trade near its session low.

Financials will remain in focus as the budget debate continues. Today, the majors are mixed. Goldman Sachs (GS 118.61, +0.52) and Morgan Stanley (MS 17.78, +0.08) are outperforming as they both see gains near 0.5%.

On the downside, Bank of America (BAC 10.55, -0.06) and Wells Fargo (WFC 33.34, -0.16) are both down near 0.5%.

The energy sector is the weakest performer despite little change in crude oil prices. Looking at notable decliners, Nabors Industries (NBR 13.82, -0.71) is lower by 4.9% after Jefferies downgraded the stock to ‘Underperform' from ‘Hold.'

Anadarko Petroleum (APC 74.99, -0.55) is sliding 0.7% despite positive comments made about the company at Jefferies following the closing arguments in the court case brought against APC by chemical producer Tronox (TROX 15.57, -0.48).

Elsewhere in energy, coal stocks are mixed. CONSOL Energy (CNX 34.02, -0.24) is lower by 0.7% while Walter Energy (WLT 36.64, +0.77) is advancing 2.2%.

Technology stocks are notable laggards and Apple (AAPL 528.90, -10.10) is lower by 1.9%. Semiconductor manufacturers are also putting pressure on the space as the PHLX Semiconductor index trades lower by 1.1%. Among individual producers, Cirrus Logic (CRUS 27.49, -1.63) is the biggest laggard, down 5.6%.

Lexmark (LXK 23.50, -1.58) is sliding 6.3% after Deutsche Bank downgraded the stock to ‘Sell' from ‘Hold.'

In notable news, Best Buy (BBY 13.98, +1.80) is surging 14.7% after CNBC reported company founder Richard Schulze is expected to submit a bid between $5 and $6 billion in his attempt to take the company private by week's end. Also of note, Chief Financial Officer Sharon McCollam bought over 100,000 shares on December 10, 2012.

The latest weekly initial jobless claims count totaled 343,000, which was lower than the 375,000 that had been expected by the Briefing.com consensus. The tally was also below the revised prior week count of 372,000. As for continuing claims, they fell to 3.198 million from 3.221 million.

November retail sales rose by 0.3%, which was slightly worse than the 0.4% increase that had been broadly expected. The prior month's reading pointed to a decrease of 0.3%. Excluding autos, retail sales were unchanged, which was in-line with the Briefing.com consensus.

Overall producer prices declined during November by 0.8%, which was cooler than the 0.5% decrease that had been widely forecast. Core producer prices rose by 0.1%, which was in-line with the Briefing.com consensus.

During October, inventories rose by 0.4%, which was in-line with the Briefing.com consensus. Today's reading follows the prior month's increase of 0.7%.DJ30 -55.52 NASDAQ -23.24 SP500 -8.15 NASDAQ Adv/Vol/Dec 978/1.00 bln/1417 NYSE Adv/Vol/Dec 950/282.2 mln/1993

12:30 pm : The S&P 500 is off by 0.5% as it pushes to fresh session lows.

Looking at technology stocks, the SPDR Technology Select Sector ETF (XLK 29.01, -0.17) is slipping 0.6%. Shares of Apple (AAPL 531.25, -7.75) are down 1.4% as the largest tech component continues its slide.

Google (GOOG 703.10, +5.54) is advancing 0.8% after releasing map software for the Apple iPhone.

Yahoo! (YHOO 19.48, +0.10) is adding 0.5% after reports indicated Brad Smith will step down from the company's Board of Directors.

Lexmark (LXK 23.62, -1.46) is sliding 5.8% after Deutsche Bank downgraded the stock to ‘Sell' from ‘Hold.'

In earnings, Ciena (CIEN 15.87, +0.30) is advancing 1.9% despite missing on earnings. Further, the communication company issued cautious first quarter guidance as it expects revenue to come in at the lower end of the Capital IQ consensus forecast.DJ30 -52.23 NASDAQ -20.73 SP500 -7.55 NASDAQ Adv/Vol/Dec 994/890.5 mln/1404 NYSE Adv/Vol/Dec 996/251.5 mln/1927

12:00 pm : The S&P 500 is off by 0.3% as it continues to trade near its session low.

In Washington, House Speaker John Boehner has recently concluded his press conference. The speaker struck a familiar tone and said that President Obama is not serious about cutting spending. In addition, Mr. Boehner said that the White House is willing to go over the fiscal cliff.

Financials will remain in focus as the budget debate continues. Today, the majors are mixed. Goldman Sachs (GS 118.72, +0.63) and Morgan Stanley (MS 17.81, +0.11) are outperforming as they both see gains near 0.6%. On the downside, Bank of America (BAC 10.58, -0.03) and Wells Fargo (WFC 33.40, -0.10) are both down near 0.3%.DJ30 -27.56 NASDAQ -8.40 SP500 -3.64 NASDAQ Adv/Vol/Dec 1122/770.1 mln/1252 NYSE Adv/Vol/Dec 1179/224.1 mln/1704

11:30 am : The major averages are at their respective lows as House Speaker Boehner addresses the media in Washington. Currently, the S&P 500 is off by 0.3%.

The energy sector is the weakest performer despite little change in crude oil prices. Looking at notable decliners, Nabors Industries (NBR 14.00, -0.53) is lower by 3.7% after Jefferies downgraded the stock to ‘Underperform' from ‘Hold.'

Anadarko Petroleum (APC 74.56, -0.98) is sliding 1.3% despite positive comments made about the company at Jefferies following the closing arguments in the court case brought against the company by chemical producer Tronox (TROX 15.65, -0.40).

Elsewhere in energy, coal stocks are mixed. Arch Coal (ACI 7.55, -0.10) is lower by 1.2% while Walter Energy (WLT 36.25, +0.38) is advancing 1.2%.DJ30 -25.50 NASDAQ -7.47 SP500 -3.82 NASDAQ Adv/Vol/Dec 1110/670.1 mln/1230 NYSE Adv/Vol/Dec 1085/198.9 mln/1781

11:00 am : The major averages are seeing mixed performance as the Nasdaq trades higher by 0.2% while the S&P 500 is off by 0.1%.

Consumer discretionary stocks are leading the broader market. Within the space, Best Buy (BBY 13.96, +1.78) is surging 14.6% after CNBC reported company founder Richard Schulze is expected to submit a bid between $5 and $6 billion in his attempt to take the company private by week's end. Also of note, Chief Financial Officer Sharon McCollam bought over 100,000 shares on December 10, 2012.

Pep Boys (PBY 10.05, +0.31) is higher by 3.2% following the announcement of a $50 million share repurchase program.

Tempur-Pedic International (TPX 29.65, +1.15) is higher by 4.3% after the company upsized its note offering by $25 million and priced $375 million of 6.875% senior notes.

For-profit education stocks are also contributing to the outperformance of discretionary stocks. New Oriental Education (EDU 19.81, +0.57) and Apollo Group (APOL 21.54, +0.53) are seeing respective gains of 3.0% and 2.4%.DJ30 -8.33 NASDAQ +5.02 SP500 -0.52 NASDAQ Adv/Vol/Dec 1247/541.3 mln/1035 NYSE Adv/Vol/Dec 1264/165.3 mln/1570

10:35 am : Commodities are mostly lower this morning although the dollar index is trading near the unchanged line.

Just ahead of inventory data, natural gas was down 1.1% at $3.35/MMBtu, near its LoD of $3.33/MMBtu. Following the weekly inventory data, however, prices dropped to a new LoD of $3.29. Currently, the energy component is -1% at $3.35/MMBtu.

Jan crude oil rallied in recent action, lifting prices back near the unchanged level. Currently, Jan crude trading 0.2% lower at $86.61/barrel.

Precious metals are down and not far above their session lows. Feb gold futures fell as low as $1690.70/oz and are now trading 1.1% lower at $1699.70/oz. Mar silver fell to its own new session low of $32.36 less than an hour ago and is now -3.4% at $32.65/oz. Mar copper is -1.1% at $3.67/lb.DJ30 +1.96 NASDAQ +8.83 SP500 +1.07 NASDAQ Adv/Vol/Dec 1294/435.0 mln/945 NYSE Adv/Vol/Dec 1367/135 mln/1407

10:00 am : The major averages have shown little change in reaction to the latest business inventories data. The S&P 500 is off by 0.1%.

During October, inventories rose by 0.4%, which was in-line with the Briefing.com consensus. Today's reading follows the prior month's increase of 0.7%.DJ30 -0.39 NASDAQ -2.51 SP500 -0.67 NASDAQ Adv/Vol/Dec 1125/263.3 mln/1028 NYSE Adv/Vol/Dec 1252/94.5 mln/1455

09:50 am : The opening minutes saw indecision among the major averages and the S&P 500 is off by 0.1%.

Looking at the early sector alignment, utilities and energy stocks are among the weakest performers. Meanwhile, consumer stocks are outperforming.

Best Buy (BBY 14.24, +2.06) is top performer among S&P 500 stocks. The electronics retailer is surging 17.2% after CNBC reported company founder Richard Schulze is expected to submit a bid between $5 and $6 billion in his attempt to take the company private. In addition, Chief Financial Officer Sharon McCollam acquired over 100,000 shares on December 10, 2012.

Today's economic data will be topped-off by October business inventories, which will be reported in 15 minutes.DJ30 -12.60 NASDAQ -2.00 SP500 -1.56 NASDAQ Adv/Vol/Dec 1069/194.1 mln/1028 NYSE Adv/Vol/Dec 1196/76.6 mln/1454

09:14 am : [BRIEFING.COM] S&P futures vs fair value: -0.10. Nasdaq futures vs fair value: -3.80. Heading into the open, equity futures are pointing to a flat start.

Apple (AAPL 530.00, -9.00) is seeing pre-market weakness as the stock trades lower by 1.7%. Meanwhile, Google (GOOG 712.00, +14.44) is advancing 2.0% after the company's map application was added to the Apple iPhone.

Elsewhere, Lexmark (LXK 23.50, -1.58) is sliding 6.3% after Deutsche Bank downgraded the stock to ‘Sell' from ‘Hold.'

October business inventories will be reported at 10:00 ET.

09:00 am : [BRIEFING.COM] S&P futures vs fair value: -1.40. Nasdaq futures vs fair value: -6.00. U.S. equity futures are mixed as Dow futures trade higher by 0.1% while Nasdaq futures are shedding 0.1%.

European markets are generally lower after Eurozone finance ministers approved the next tranche of Greek aid. Per the agreement, the troubled sovereign will receive EUR49 billion in four disbursements through March 2013. Additionally, the finance ministers reached an agreement on EU Banking supervision, and the mechanism is expected to be operational by 2014. Economic data in the region was limited, but Spanish CPI saw a 0.1% month-over-month decline, which was ahead of expectations. Meanwhile, Italy's CPI slipped 0.2% month-over-month, in-line with forecasts.

In France, the CAC is off by 0.1% and tech stocks are underperforming. Cap Gemini and STMicroelectronics are down 1.2% and 1.6%, respectively. On the upside, consumer stocks are seeing strength. Danone is higher by 1.1% and Pernod-Ricard is adding 0.3%. Earlier, Danone announced plans to implement cost-cutting measures aimed at saving the company about EUR200 million.

UK's FTSE is shedding 0.3% and miners are lagging. Anglo American and Kazakhmys are seeing respective losses of 2.3% and 2.4%. On the upside, financials are seeing relative strength. Resolution and Standard Chartered are both adding 0.4%.

Germany's DAX is lower by 0.4%. Deutsche Bank is sliding 3.0% after indicating expenses stemming from cost savings measures will have a significant negative impact on fourth quarter earnings. Meanwhile, industrials are outperforming. Deutsche Lufthansa and Volkswagen are both up near 0.5%.

The major Asian bourses saw a mixed session following yesterday's flat close on Wall Street. Outperformance came from Japan's Nikkei (+1.7%) as trades gobbled up shares thanks to the continued weakness of the yen. The Nikkei has gained 13% since reports first surfaced Shinzo Abe was considered the favorite in Sunday's election. Meanwhile, China's Shanghai Composite (-1.0%) lagged as traders took profits following the recent run-up. Both the Bank of Korea and Bangko Sentral ng Pilipinas opined overnight, opting to hold their key rates at 2.75% and 3.50% respectively. Both decisions were widely anticipated. Data from the region was light as Australia's MI Inflation Expectations slipped to 1.8% (2.2% previous) while its new motor vehicles sales posted a 0.0% month-over-month reading (-2.5% previous).

In Japan, the Nikkei advanced 1.7% to end at its best level in eight months. Exporters continued to shine as robotics maker Fanuc surged 4.6% and Honda Motor gained 2.7%. Meanwhile, Sharp rallied 6.4% on reports Apple is testing television designs with suppliers in the region.

In Hong Kong, the Hang Seng shed 0.3% as several names were hit following share offerings. Power producer CLP slumped 3.6% after placing $984 million worth of shares, and property developer Kasia Group tumbled 7.7% after its own offering.

In China, the Shanghai Composite settled lower by 1.0% as metals and coal names were weak. Tibet Mineral Development dove 3.7% and Yanzhou Coal Mining fell 2.1% to finish among the laggards in their respective sectors.

08:36 am : [BRIEFING.COM] S&P futures vs fair value: -0.30. Nasdaq futures vs fair value: -2.50. Equity futures have ticked higher in reaction to the latest economic data. The S&P 500 futures are adding 0.1%.

The latest weekly initial jobless claims count totaled 343,000, which is lower than the 375,000 that had been expected by the Briefing.com consensus. The tally is below the revised prior week count of 372,000. As for continuing claims, they fell to 3.198 million from 3.221 million.

November retail sales rose by 0.3%, which is slightly worse than the 0.4% increase that had been broadly expected. The prior month's reading pointed to a decrease of 0.3%. Excluding autos, retail sales were unchanged, which is in-line with the Briefing.com consensus.

Overall producer prices declined during November by 0.8%, which is cooler than the 0.5% decrease that had been widely forecast. Core producer prices rose by 0.1% which is in-line with the Briefing.com consensus.

08:00 am : S&P futures vs fair value: -1.70. Nasdaq futures vs fair value: -3.50. U.S. equity futures are mixed amid downbeat European trade.

Overnight, the global equity markets were generally lower. Japan, however, gained 1.7% and was a lone standout. Some top exporters in the consumer electronics space led the way as Panasonic, Sony, and Sharp were all up over 6.0%. A couple of conflicting reports came out of China as the Chinese Academy of Social Sciences believes the People's Bank of China should provide additional monetary policy support in order to boost growth. However, an analyst at Commercial Bank of China suggested this was unlikely due to rising property concerns. Elsewhere, reports out of Kyodo noted a Chinese airplane entered Japanese air space over the disputed Senkaku islands in the East China Sea. China's Shanghai Composite lost 1.0% and Hong Kong's Hang Seng shed 0.3%.

In Europe, economic data was light as Spanish CPI declined 0.1% month-over-month, and beat expectations. Meanwhile, Italy's CPI slipped 0.2% month-over-month. This reading was in-line with expectations. In other news, the next tranche of Greek aid was finally approved. Per the agreement, the troubled sovereign will receive EUR49 billion in four disbursements through March 2013. Additionally, Eurozone finance ministers reached an agreement on EU Banking supervision, and the mechanism is expected to be operational by 2014. Looking at regional indices, France's CAC is flat, UK's FTSE is off by 0.2%, and Germany's DAX is shedding 0.5%.

In U.S. corporate news, Best Buy (BBY 13.70, +1.52) is surging 12.5% after CNBC reported company founder Richard Schulze is expected to submit a bid between $5 and $6 billion for the electronics retailer. In addition, Chief Financial Officer Sharon McCollam acquired over 100,000 shares on December 10, 2012.

Ciena (CIEN 15.00, -0.57) is sliding 3.7% after missing on earnings. Further, the communication company issued cautious first quarter guidance as it expects revenue to come in at the lower end of the Capital IQ consensus forecast.

CVS Caremark (CVS 49.50, +1.96) is advancing 4.1% after raising its dividend by 38% to $0.22 per share. In addition, the company guided full-year earnings above consensus estimates.

Deutsche Bank (DB 43.52, -1.06) is down 2.4% after disclosing that two high-ranking executives were targeted in a tax evasion investigation. The company also warned that cost changes are expected to have a significant impact on fourth quarter earnings.

Weekly initial and continuing claims will be reported at 8:30 ET. In addition, November retail sales, retail sales ex-auto, PPI, and core PPI will also be released at 8:30 ET. Lastly, October business inventories will cross the wires at 10:00 ET.

The U.S. Treasury will hold a $13 billion, 30-yr reopening.

06:41 am : [BRIEFING.COM] S&P futures vs fair value: -2.50. Nasdaq futures vs fair value: -5.00.

06:40 am : Nikkei...9742.73...+161.30...+1.70%. Hang Seng...22445.58...-57.80...-0.30%.

06:40 am : FTSE...5931.70...-14.20...-0.20%. DAX...7587.70...-27.10...-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

http://www.thestrategylab.com
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