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 Post subject: January 22nd Tuesday Trade Results - Profit $1120
PostPosted: Tue Jan 22, 2013 7:10 pm 
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Joined: Sat Jan 10, 2009 2:06 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

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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 @ $780.00 dollars or +7.80 points, EuroFX 6E futures @ $0.00 dollars or +0.0000 ticks and Light Crude Oil CL (WTI) futures @ $340.00 dollars or +0.34 points. Total Profit @ $1120.00 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 on the Freenode IRC network (chat room no longer located on the Othernet IRC network). You can read today's ##TheStrategyLab 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=113&t=1419

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=199&t=1715

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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 in many trading instruments I monitor during the trading day. 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, intermarket analysis (e.g. Forex EurUsd, Gold GC futures, Oil CL & Brent futures, Eurex DAX futures, Emini ES futures, Emini TF futures, Treasury ZB futures) 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.

Dow, S&P 500 Close At 5-Year Highs

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

NEW YORK (CNNMoney)
U.S. stocks gained ground Tuesday, with the Dow and S&P 500 closing at fresh five-year highs amid mostly strong earnings reports.

The Dow Jones industrial average added 0.4% and S&P 500 rose 0.5%, advancing once again to their highest levels since December 2007. The two indexes have been hitting new highs since the start of the year.

Travelers (TRV, Fortune 500) was among the best performers on the Dow, with shares rising more than 2% after the company's fourth-quarter profit beat estimates. Shares of DuPont (DD, Fortune 500) also rose sharply after the company reported better-than-expected earnings and issued an upbeat outlook, helping boost the blue chip index.

Western Digital (WDC, Fortune 500) was a big winner in the S&P 500. The data storage provider, which is slated to report earnings Wednesday, said it is expanding its products to to address the small and medium-sized business market.

The Nasdaq edged up 0.3%, fueled by an 13% jump in shares of Research in Motion (RIMM). The BlackBerry maker's stock has been gaining on the hype surrounding the launch of BlackBerry 10 later this month.

Dell (DELL, Fortune 500) was also a big gainer on the tech-heavy index following reports that Microsoft (MSFT, Fortune 500) was in talks with private equity firm Silver Lake Partners and Dell CEO Michael Dell to invest between $1 billion to $3 billion in the buyout of the PC maker, citing sources close to the matter.

Related: Microsoft buying a chunk of Dell would be smart (for Microsoft)

On the downside, Johnson & Johnson (JNJ, Fortune 500) shares edged lower after the company reported earnings and sales that were roughly in line with estimates

Verizon (VZ, Fortune 500) reported a wider quarterly loss ahead of the open, but shares gained ground. Wireless carriers are expected to have a rough quarter as profit margins get dinged by high subsidies paid to Apple (AAPL, Fortune 500) for the iPhone 5.

After the closing bell, shares of IBM (IBM, Fortune 500) climbed after the company topped fourth-quarter earnings and sales expectations and also issued a better-than-expected outlook for 2013.

Google (GOOG, Fortune 500) shares also rose in after-hours trading after the company delivered earnings and revenue that exceeded forecasts.

Overall, S&P 500 companies are expected to report earnings growth of 3.8% for the last three months of 2012, according to S&P's Capital IQ.

Earlier in the day, stocks wavered as investors focused on mixed housing data. The National Association of Realtors said existing home sales surprisingly declined in December to an annual rate of 4.94 million from the previous month. Despite the month-over-month decline however, overall existing home sales in 2012 were the highest for the U.S. real estate market in five years, according to the industry trade group.

Related: Fear & Greed Index steeped in extreme greed

European markets and Asian markets ended mixed.

Japan's Nikkei ended narrowly weaker and the yen firmed slightly against the dollar after the Bank of Japan raised its inflation target and announced unlimited government bond purchases from next year. The move was widely expected and some analysts said the bank could have been even more ambitious in its bid to stimulate growth.

"Today's announcements do represent a significant step forward from the BoJ," analysts at Daiwa Capital Markets wrote in a note to clients. "Even if they are not necessarily the seismic shift in policy that the economy might require."

The dollar was also lower versus the euro and the British pound.

Oil and gold priced edged higher.

The price of the 10-year Treasury was little changed, and the yield held steady around 1.84%.

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Market Update

4:15 pm : Equities managed to finish today's session with slim gains despite a mid-morning stumble. The S&P 500 and Dow were able to overcome the early weakness thanks in part to upbeat earnings from major sector components.

The 30-stock Dow Jones led the way as earnings from DuPont (DD 47.82, +0.83), Travelers (TRV 77.95, +1.64), and Verizon Communications (VZ 42.94, +0.40) contributed to the outperformance. Though Verizon missed on the bottom line, its stock added 0.9%.

In other earnings of note, Delta Air Lines (DAL 14.01, +0.40) gained 2.9% on the back of an in-line report. Note that Delta, along with its rivals, has soared over 30% since the start of December. The advance has been notable as crude oil gained nearly $10 in the same timeframe.

As the S&P 500 and Dow pushed to fresh highs, the Nasdaq was more deliberate in its climb off session lows. Semiconductor manufacturers weighed on the index and the PHLX Semiconductor Index slipped 0.3%. The cautious trade preceded earnings announcements from Advanced Micro Devices (AMD 2.45, -0.01) and Texas Instruments (TXN 33.46, -0.06). The market will receive quarterly reports from the two semiconductor producers after today's close.

Additionally, two major tech names, Google (GOOG 702.87, -1.64) and International Business Machines (IBM 169.08, +1.61), will also reveal their earnings after the closing bell.

While earnings contributed to today's gains, the market also received some headlines from Washington. Midday reports indicated the White House would welcome a three-month debt ceiling extension. This comes as the House of Representatives prepares to vote on a temporary extension tomorrow.

Among stocks moving on news, Boeing (BA 41.16, -0.88) shed 1.2% after Reuters reported that electrical issues with the Dreamliner were not caused by faulty batteries as previously thought. Elsewhere, Caterpillar (CAT 97.72, +0.10) saw little change following the discovery of accounting misconduct at its Chinese subsidiary. As a result of the discovery, Caterpillar will take a fourth quarter non-cash charge of approximately $580 million.

Crude oil climbed steadily throughout the session and ended higher by 0.7%. The energy component settled at $96.68.

The CBOE Volatility Index (VIX 12.57, +0.22) advanced 0.9%, but the near-term volatility measure remained at its multi-year low.

Floor volume at the New York Stock Exchange was in-line with the 50-day average as 700 million shares changed hands during today's session.

Today's lone economic data point was the December existing home sales report which pointed to an annualized rate of 4.94 million units, weaker than the rate of 5.10 million units that had been generally expected by the Briefing.com consensus. The pace for December was down from the prior month's revised rate of 4.99 million units. Looking at tomorrow's economic releases, the weekly MBA Mortgage Index will be reported at 7:00 ET while the November FHFA Housing Price Index will cross the wires at 9:00 ET. In notable earnings, McDonald's (MCD 92.95, +0.69) will announce its fourth quarter results ahead of the opening bell.DJ30 +62.43 NASDAQ +8.47 SP500 +6.53 NASDAQ Adv/Vol/Dec 1539/1.73 bln/927 NYSE Adv/Vol/Dec 2097/699.9 mln/929

3:30 pm : Mar crude oil lifted off its session low of $95.97 per barrel set in morning floor action and trended higher for the remainder of the session as the dollar index remained in negative territory. The energy component eventually settled with a gain of 0.7% at $96.69 per barrel, which was slightly below its session high of $96.89 per barrel.

Feb natural gas fell into the red and to a session low of $3.51 per MMBtu but managed to recover into the black in afternoon pit trade. Although it traded as high as $3.59 per MMBtu, natural gas gave up the gains and closed 0.3% lower at $3.56 per MMBtu.

Feb gold advanced to a pit session high of $1695.90 per ounce after trading as low as $1686.30 per ounce in morning action. The yellow metal pulled-back slightly as it headed into the close and settled at $1693.10 per ounce, or 0.3% higher.

Mar silver came off its session low of $31.87 per ounce set in morning action and advanced to a session high of $32.24 per ounce. It traded in a consolidative pattern just below that level in afternoon action and settled 0.8% higher at 32.17 per ounce. DJ30 +47.78 NASDAQ +1.51 SP500 +4.73 NASDAQ Adv/Vol/Dec 1435/1.41 bln/1037 NYSE Adv/Vol/Dec 1927/451.9 mln/1060

2:55 pm : The major averages are near their respective highs as the final hour of trade begins. Today's session opened on a cautious note, but generally positive earnings helped the key indices stage a day-long rally.

Airlines have shown tremendous strength in recent weeks, and Delta Air Lines (DAL 14.06, +0.45) is adding 3.3% following this morning's in-line report. Though Delta's earnings met investor expectations, the market is seeing further value in the carrier which gained almost 40% since the start of December. Note that the industry-wide rally has taken place despite crude oil adding nearly $10 in the same timeframe. Peers Southwest Airlines (LUV 11.48, +0.22) and United Continental (UAL 25.10, +0.30) are seeing respective gains of 2.0% and 1.3% on the back of Delta's results.DJ30 +49.30 NASDAQ +3.92 SP500 +5.00 NASDAQ Adv/Vol/Dec 1430/1.29 bln/1028 NYSE Adv/Vol/Dec 1942/411.6 mln/1044

2:30 pm : As the quiet session continues, all three major averages are now registering gains. After marking their respective lows during the first hour of trade, equity indices have spent the remainder of the day in a steady uphill climb.

Quarterly earnings were in focus early, but this morning's reports were mostly in-line with expectations. Upbeat results from DuPont (DD 47.82, +0.83) and Freeport-McMoRan (FCX 35.43, +1.79) are having a positive impact on the materials sector which is leading the S&P 500.

In addition to strong earnings, the market has received reports out of Washington which indicated the White House would welcome a temporary extension of the debt limit.DJ30 +47.69 NASDAQ +1.95 SP500 +4.20 NASDAQ Adv/Vol/Dec 1391/1.21 bln/1046 NYSE Adv/Vol/Dec 1910/383.8 mln/1081

2:00 pm : The S&P 500 is adding 0.2% as the benchmark index hovers near its session high. Meanwhile, the Nasdaq is off by one point as the tech-heavy index attempts to break into positive territory.

Today's session has been relatively quiet, and the key indices have spent the duration of the day climbing off their respective lows, which were marked during the first hour of trade. Semiconductor manufacturers are contributing to the relative weakness in the Nasdaq ahead of after-hours earnings reports from Advanced Micro Devices (AMD 2.46, 0.00) and Texas Instruments (TXN 33.37, -0.15).

Additionally, Google (GOOG 703.82, -0.69) will also report its fourth quarter results after today's close.DJ30 +28.95 NASDAQ -1.18 SP500 +2.12 NASDAQ Adv/Vol/Dec 1373/1.12 bln/1062 NYSE Adv/Vol/Dec 1852/354.1 mln/1123

1:30 pm : The S&P 500 and Dow have pushed to fresh session highs in recent trade. The afternoon strength followed earlier reports out Washington which indicated the White House would welcome a three-month extension to the debt ceiling. Note that the House of Representatives will vote on a temporary extension of the debt limit tomorrow.

The Dow Jones Transportation Averages has been a notable outperformer today as the bellwether complex trades higher by 1.0%. Airlines are registering broad gains and Delta Air Lines (DAL 14.06, +0.45) is firmer by 3.4% after reporting in-line earnings.

Railroads are also displaying strength and Kansas City Southern (KSU 91.09, +3.46) is advancing 4.0% following a bottom line beat.DJ30 +34.32 NASDAQ -2.42 SP500 +2.53 NASDAQ Adv/Vol/Dec 1359/1.02 bln/1079 NYSE Adv/Vol/Dec 1832/325.5 mln/1137

1:00 pm : Stocks began the shortened week on a quiet note amid a flurry of quarterly reports. However, results from most companies which reported today were largely in-line with expectations. At midday, the Dow is the best performing index as earnings from Travelers (TRV 78.47, +2.16) and Verizon Wireless (VZ 42.93, +0.39) are welcomed by the market. Equities got an additional boost from recent headlines out of Washington which indicated that a three-month extension of the debt ceiling would be welcome by the White House.

While Travelers and Verizon are contributing to relative strength in financials and telecoms, materials are seeing the strongest performance. The SPDR Materials Select Sector ETF (XLB 39.69, +0.35) is higher by 0.9% after DuPont (DD 47.82, +0.83) and Freeport-McMoRan (FCX 35.36, +1.72) reported strong earnings.

On the downside, the tech sector is the biggest laggard due to weakness among semiconductor manufacturers. Note that one of the largest industry components, Texas Instruments (TXN 33.34, -0.18), is scheduled to report its fourth quarter earnings following today's close. In addition, Advanced Micro Devices (AMD 2.48, +0.02) is also set to report this evening.

Fourth quarter earnings will continue rolling in after today's close with Google (GOOG 699.89, -4.62) set to headline the after-hours slate of releases. The Capital IQ consensus expects the tech company to report earnings growth of 11% with the bottom line coming at $10.56 on $15.38 billion in revenue.

Two notable names in the industrial sector are trading lower on news. Boeing (BA 74.06, -0.98) is shedding 1.3% after Reuters reported that batteries were not the cause of recent issues observed aboard the Dreamliner. Elsewhere, Caterpillar (CAT 96.87, -0.75) is off by 0.8% after the company uncovered accounting misconduct at its recently acquired Chinese subsidiary. As a result of the finding, Caterpillar will take a fourth quarter non-cash charge of approximately $580 million.

The CBOE Volatility Index (VIX 12.68, +0.22) is adding 1.8% after Friday's close marked a multi-year low for the near-term volatility measure.

Today's lone economic data point was the December existing home sales report which pointed to an annualized rate of 4.94 million units, weaker than the rate of 5.10 million units that had been generally expected by the Briefing.com consensus. The pace for December was down from the prior month's revised rate of 4.99 million units.DJ30 +30.34 NASDAQ -5.31 SP500 +1.44 NASDAQ Adv/Vol/Dec 1313/937.7 mln/1108 NYSE Adv/Vol/Dec 1801/301.5 mln/1172

12:35 pm : The S&P 500 and Dow have marked fresh session highs, while the Nasdaq continues to trade in the red. Recent headlines out of Washington have indicated that a three-month extension of the debt ceiling would be welcome by the White House.

With most sectors trading in the black, the tech-heavy Nasdaq is showing relative weakness as semiconductor manufacturers lag. Texas Instruments (TXN 33.38, -0.14), which will report its fourth quarter earnings after today's close, is off by 0.4%. Meanwhile, the broader PHLX Semiconductor Index trades lower by 0.5%.DJ30 +34.48 NASDAQ -3.62 SP500 +2.05 NASDAQ Adv/Vol/Dec 1342/862.5 mln/1080 NYSE Adv/Vol/Dec 1819/280.1 mln/1131

12:05 pm : The S&P 500 is unchanged after climbing off its lows in the 1481 area. Materials and telecoms are the top two sectors after major components reported earnings. In materials, DuPont (DD 47.78, +0.79) and Freeport-McMoRan (FCX 35.34, +1.70) are seeing respective gains of 1.7% and 5.0% after quarterly results of the two pleased investors.

Elsewhere, telecom stocks are outperforming after Verizon Communications (VZ 42.93, +0.39) reported in-line revenue. Meanwhile, peer AT&T (T 33.65, +0.21) is adding 0.6%.

Financial stocks are also among today's top performers. While the sector has already received quarterly earnings from its top components, numerous insurers and regional financials have yet to announce their results. TD Ameritrade (AMTD 19.12, +0.68), which reported this morning, is rising by 3.7% after the brokerage beat on earnings and revenue.DJ30 +17.71 NASDAQ -7.97 SP500 -0.24 NASDAQ Adv/Vol/Dec 1283/784.5 mln/1106 NYSE Adv/Vol/Dec 1731/256.5 mln/1214

11:30 am : The major averages continue to trade in range bound fashion. The Dow has recently crossed into positive territory and Travelers (TRV 48.38, +2.06) is the top performer. The insurer trades higher by 2.7% after reporting earnings.

Meanwhile, the tech-heavy Nasdaq is the weakest performer. Recent reports have indicated Microsoft (MSFT 27.16, -0.09) is in talks to invest up to $3 billion as part of the Dell (13.06, +0.22) leveraged buyout.

Also of note, Apple (AAPL 498.57, -1.43) is off by 0.3% ahead of its quarterly report scheduled to be released after tomorrow's close.DJ30 +6.87 NASDAQ -8.99 SP500 -1.41 NASDAQ Adv/Vol/Dec 1198/668.2 mln/1175 NYSE Adv/Vol/Dec 1612/221.1 mln/1308

11:00 am : The major averages have extended their early weakness, and the S&P 500 is off by 0.2% as the index trades near the middle of its range. As the defensive trade takes hold, utilities and telecoms are outperforming. In the telecom space, Verizon Communications (VZ 42.87, +0.35) is adding 0.8% after its quarterly report showed a bottom line miss, and revenue in-line with the Capital IQ consensus forecast.

In addition to defensive sectors, stocks in the materials space are seeing relative strength after DuPont (DD 47.45, +0.46) beat on the bottom line and issued upbeat guidance.

On the downside, technology stocks are lagging ahead of Google's (GOOG 696.79, -7.72) earnings report scheduled for an after-hours release.DJ30 -2.72 NASDAQ -10.31 SP500 -2.55 NASDAQ Adv/Vol/Dec 1090/543.6 mln/1242 NYSE Adv/Vol/Dec 1492/190.9 mln/1397

10:30 am : Mar crude oil came off its pit session low of $96.02 per barrel and touched a session high of $96.44 per barrel. However, the energy component has been pulling-back in recent action and is now up 0.1% at $96.13 per barrel.

Feb natural gas gave up its overnight gains as it retreated into negative territory from its session high of $3.61 per MMBtu. It traded as low as $3.51 per MMBtu in recent action and is now down 1.2% at $3.53 per MMBtu.

Feb gold briefly dipped into the red and to a session low of $181686.30 per ounce after trading as high as $1693.60 per ounce in early morning pit action. The yellow metal is now at $1689.40, or up 0.1%.

Mar silver came out of negative territory and touched a session high of $32.06 per ounce. It is now just below that level at $31.99 per ounce, or up 0.2%. DJ30 -20.02 NASDAQ -11.19 SP500 -4.24 NASDAQ Adv/Vol/Dec 991/412.2 mln/1302 NYSE Adv/Vol/Dec 1354/155.5 mln/1501

10:00 am : The major averages ticked lower in reaction to the December existing home sales. The S&P 500 is off by 0.1%.

Existing home sales for December hit an annualized rate of 4.94 million units, which was weaker than the rate of 5.10 million units that had been generally expected by the Briefing.com consensus. The pace for December was down from the prior month's revised rate of 4.99 million units.DJ30 -5.30 NASDAQ -6.04 SP500 -2.03 NASDAQ Adv/Vol/Dec 1044/264.5 mln/1165 NYSE Adv/Vol/Dec 1435/115.5 mln/1353

09:50 am : The major averages have seen little change during the opening minutes of the session. The S&P 500 is off by 0.1%.

The flat open follows this morning's flurry of quarterly reports, most of which were in-line with expectations.

Industrial stocks are underperforming after two sector components were in the news over the weekend. Caterpillar (CAT 96.65, -0.97) is down 1.0% after the company uncovered accounting misconduct at its recently acquired Chinese subsidiary. As a result of the finding, Caterpillar will take a fourth quarter non-cash charge of approximately $580 million.

Meanwhile, Boeing (BA 73.97, -1.07) is off by 1.4% after Reuters reported that batteries were not the cause of recent issues observed aboard the Dreamliner.

December existing home sales will be reported at 10:00 ET.DJ30 -5.26 NASDAQ -2.30 SP500 -1.32 NASDAQ Adv/Vol/Dec 1066/177.1 mln/1064 NYSE Adv/Vol/Dec 1440/91.7 mln/1297

09:17 am : [BRIEFING.COM] S&P futures vs fair value: -1.90. Nasdaq futures vs fair value: +0.70. Heading into the open, equity futures are indicating a flat start to the session.

The early focus of the trading day is likely to be on earnings. Of the 23 companies which already reported their results, most beat their bottom line expectations. Following today's close, another 26 names covered by Briefing.com will report their fourth quarter results. Most notably, Google (GOOG 707.00, +2.49) is scheduled for an after-hours release.

In addition to earnings, the frequency of headlines out of Washington is expected to increase in the coming days. On Wednesday, the House of Representatives is expected to vote on a temporary measure aimed at suspending the debt ceiling until May 19. However, Senate Majority Leader Harry Reid has yet to indicate how the Senate would vote in the event the proposal passes the House.

Only a handful of economic data points will be released this week and today's lone data point will shed light on December existing home sales. The report is scheduled for a 10:00 ET release.

08:58 am : [BRIEFING.COM] S&P futures vs fair value: -2.80. Nasdaq futures vs fair value: +0.50. Equity futures remain mixed 30 minutes ahead of the open. The Dow futures are off by 0.1% while Nasdaq futures are adding 0.2%.

The weakness in the Dow futures comes as a handful of components weigh. On the earnings front, Verizon Communications (VZ 41.98, -0.54) is slipping 1.3% following a bottom line miss. While the telecom company missed analyst earnings expectations by $0.13, its revenue was in-line with expectations. Peer AT&T (T 33.15, -0.29) is shedding 0.9%.

Elsewhere, Caterpillar (CAT 96.00, -1.62) is down 1.7% after the company uncovered accounting misconduct at its recently acquired Chinese subsidiary. As a result of the finding, Caterpillar will take a fourth quarter non-cash charge of approximately $580 million.

Boeing (BA 74.25, -0.79) is yet another Dow component showing weakness ahead of the open. The stock trades lower by 1.1% after Reuters reported that batteries have been ruled out as a potential cause of the recent issues aboard the Dreamliner.

December existing home sales will be reported at 10:00 ET.

08:31 am : [BRIEFING.COM] S&P futures vs fair value: -3.40. Nasdaq futures vs fair value: -2.80.

U.S. equity futures continue to trade in mixed fashion. The S&P 500 futures are off by 0.1%.

The major Asian bourses ended mixed after the Bank of Japan moved to end its two-decade plus bout with deflation. The central bank announced unlimited quantitative easing, and a 2% inflation target, both of which were expected. After early strength ran USDJPY to 90.15, sellers took control and have it down 100 pips at 88.60. Elsewhere, heavy flooding over the past week has ravaged the Indonesian capital of Jakarta. This is a situation to monitor as officials warn more water is on its way. Data from the region was quiet with Taiwan's unemployment rate slipping to 4.2% (4.3% previous).
In Japan, the Nikkei slipped 0.4% as exporters were hit because of the strong yen. Honda Motor and Toyota Motor slumped 2.3% and 0.9% respectively. Elsewhere, Olympus Corp. rallied 6.6% after being initiated with a 'Buy' at a tier 1 firm.
Hong Kong's Hang Seng added 0.3% amid a choppy session. Financials outperformed as Agricultural Bank of China jumped 1.7% and Bank of Communications gained 0.6%. Meanwhile, casino stocks underperformed as Wynn Macau gave up 2.9%.
In China, the Shanghai Composite settled lower by 0.6% as property stocks slumped. Poly Real Estate and Gemdale were notable decliners, shedding 2.1% and 1.3% respectively.

European markets are registering slim losses and Germany's DAX is the main laggard, down 0.8%. In economic data, Germany's ZEW economic sentiment survey was reported at 31.5, which was well above the generally expected 12.0. The Eurozone ZEW sentiment survey came in at 31.2, while a reading of 14.0 was broadly expected. The United Kingdom's CBI industrial trends orders of -20 fell short of the consensus forecast which called for a reading of -11.

In news, the Dutch Finance Minister Jeroen Dijsselbloem was named as the new head of the Eurogroup, as expected. Mr. Dijsselbloem's was appointed despite opposition from Spain. The outgoing Eurogroup head Jean-Claude Juncker said Cyprus may receive a bailout in March, following the Cypriot elections.
The United Kingdom's FTSE is shedding 0.1% as miners lag. Fresnillo and Polymetal are both down near 3.0%. On the upside, retailers are seeing relative strength. Next is adding 1.4% and Kingfisher is higher by 1.9%.
France's CAC is off by 0.5% and communications companies are underperforming. France Telecom and Vivendi are seeing respective losses of 3.9% and 3.1%. The weakness comes after an executive of Vivendi's phone unit warned about the expected profitability. Water supplier Veolia Environnement is among the index leaders, up 1.4%.
Germany's DAX is down 0.8% and financials are underperforming. Deutsche Bank is lower by 2.2% amid speculation about the company's upcoming earnings report. In addition, Germany's financial regulator has asked Deutsche Bank to simulate a bank split.

08:00 am : S&P futures vs fair value: -3.20. Nasdaq futures vs fair value: -1.50.

U.S. equity futures are mixed amid cautious European trade. Over the weekend, Washington lawmakers have begun setting the stage for impending debt ceiling debate. On Wednesday, the House of Representatives is expected to vote on a temporary measure which would suspend the debt ceiling until May 19. However, Senate Majority Leader Harry Reid has yet to indicate how the Senate would vote in the event the proposal passes the House.

Looking at overseas developments:

Asian markets finished mixed. Hong Kong's Hang Seng added 0.3% while Japan's Nikkei shed 0.4%, and China's Shanghai Composite slipped 0.6%.
In economic data:
The Bank of Japan has officially adopted the government's inflation target of 2.0%. In pursuit of the said target, the central bank has announced it will now purchase assets at an unlimited rate. Japan's Nikkei ended the session lower as the move was widely anticipated.
Japan's all industries activities index came in at -0.3% month-over-month, in-line with expectations.
In news:
China's Bank of Communication expects the country's 2013 GDP growth to reach 8.5%. In addition, it said the People's Bank of China may reduce the key interest rate early this year.
The Japanese Securities Dealers Association said December marked the first time in nine months when foreign investors were net sellers of Japanese government debt.

European markets are registering slim losses. The United Kingdom's FTSE is off by 0.1% while France's CAC is shedding 0.2%, and Germany's DAX is down 0.5%.
Looking at regional economic data points:
Germany's ZEW economic sentiment survey was reported at 31.5, which was well above the generally expected 12.0.
The Eurozone ZEW sentiment survey came in at 31.2, while a reading of 14.0 was broadly expected.
The United Kingdom's CBI industrial trends orders of -20 fell short of the consensus forecast which called for a reading of -11.
In news:
The Dutch Finance Minister Jeroen Dijsselbloem was named as the new head of the Eurogroup, as expected. Mr. Dijsselbloem's was appointed despite opposition from Spain.
The outgoing Eurogroup head Jean-Claude Juncker said Cyprus may receive a bailout in March, following the Cypriot elections.
Germany's Deutsche Bank was asked by regulators to conduct an exercise, which would simulate a split of the bank.

In U.S. corporate news:

DuPont (DD 47.90, +0.91) is adding 1.9% after the chemical producer beat the Capital IQ earnings estimate by two cents. In addition, the company issued full-year 2013 earnings guidance above consensus.
Johnson & Johnson (JNJ 72.70, -0.53) is off by 0.7%. The company's earnings report was generally positive, but its downside full-year 2013 earnings guidance is contributing to the stock's pre-market weakness.
Verizon Communications (VZ 41.64, -0.90) is slipping 2.1% following a bottom line miss. While the telecom company missed analyst earnings expectations by $0.13, its revenue was in-line with expectations. Peer AT&T (T 33.00, -0.44) is shedding 1.3%.

Today's economic data will be limited to December existing home sales. This report will be released at 10:00 ET.

06:22 am : [BRIEFING.COM] S&P futures vs fair value: -2.00. Nasdaq futures vs fair value: flat.

06:21 am : Nikkei...10709.93...-37.90...-0.40%. Hang Seng...23658.99...+68.10...+0.30%.

06:21 am : FTSE...6178.59...-2.40...0.00. DAX...7724.05...-24.80...-0.30%.

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 Image@ http://stocktwits.com/wrbtrader

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