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 Post subject: February 12th Tuesday Trade Results - Profit $60
PostPosted: Wed Feb 13, 2013 7:52 am 
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Joined: Sat Jan 10, 2009 2:06 pm
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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

Quote:
Today was actually a losing trading day because the above image only shows points. Thus, it does not show commission and fees occurred as shown in my other profit/loss statement that's shown in my private trade journal.

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $60.00 dollars or +0.60 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 @ $60.00 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=114&t=1436

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=203&t=1751

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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, EuroFX 6E futures, Gold GC futures, Light Crude Oil (WTI) CL & Brent Oil futures, Eurex DAX futures, Euronext FTSE100 futures, Emini ES futures, Emini TF futures, Treasury ZB futures and U.S. Dollar Index 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.

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4:25 pm : Equities finished the day on a mixed note. The Dow climbed 0.3% and registered its highest close of the year while the S&P 500 added 0.2%, and Nasdaq shed 0.2%. The day got off to a slow start as the major averages spent the entire morning near their respective unchanged levels. However, key indices were able to climb to their highs in afternoon trade as financials paced the advance.

The financial sector led throughout the session, and the S&P 500 Financials Index climbed above 240 for the first time since October 2008. Bank of America (BAC 12.24, +0.38) and Citigroup (C 44.35, +1.20) both gained near 3.0% to support the space.

While financials led throughout the session, defensively-oriented telecommunication stocks spent the day in an upward climb and ended as the second best performing sector.

With no market-moving economic data, traders turned to earnings as several consumer names reported their quarterly results. The discretionary sector outperformed after market participants responded favorably to earnings from Fossil (FOSL 110.65, +3.19) and Michael Kors (KORS 62.00, +5.00). Fossil advanced 3.0% after reporting in-line earnings on better-than-expected revenue. Meanwhile, the company's guidance reflected a recent pattern. Fossil warned against a slowdown in the first quarter, but left its full-year guidance intact. This indicates the company believes the latter part of the year will make up for expected first quarter softness.

Elsewhere, Michael Kors spiked 8.8% after its earnings came in well ahead of expectations.

The discretionary space was supported by upbeat earnings, but quarterly results had the opposite effect on consumer staples. Coca-Cola (KO 37.56, -1.05) settled lower by 2.7% after the beverage giant warned against continued global uncertainty.

As consumer staples held slim losses throughout the day, afternoon trade saw relative weakness from technology stocks. The space was pressured by Apple (AAPL 467.90, -12.03), which lost 2.5%, after Chief Executive Officer Tim Cook did not hint at near-term changes to the company's dividend policy. Elsewhere, Qualcomm (QCOM 65.88, -1.30) dropped 1.9% after JPMorgan Chase downgraded the stock to 'Neutral' from 'Overweight.'

Today's floor volume represented a marked improvement over yesterday's session, but it remained well below average as just over 610 million shares changed hands.

Looking at the S&P 500 sector breakdown, financials (+0.8%) and telecoms (+0.6%) were the clear leaders while technology (-0.5%), health care (-0.2%), and consumer staples (-0.1%) brought up the rear.

Overseas, world leaders are preparing for the G20 summit scheduled to take place in St. Petersburg later this week. Reports from the meetings will be closely watched as recent months have seen a rise in currency commentary. With Japan taking active efforts to weaken the yen and daily remarks from European officials suggesting what the "right" level for the euro should be, the summit is likely to produce some noteworthy quotes.

Investors received just one economic report today and it came in the form of the January Treasury budget. This report pointed to a surplus of $2.88 billion, which was better than the deficit of $2.0 billion expected by the Briefing.com consensus.

Note that President Barack Obama will give the first State of the Union address of his second term at 21:00 ET tonight.

Looking at tomorrow's economic data, weekly MBA Mortgage Index will be reported at 7:00 ET. At 8:30 ET January retail sales, retail sales ex-auto, export prices ex-agriculture, and import prices ex-oil will all be released. Lastly, December business inventories will be announced at 10:00 ET. In notable earnings, Comcast (CMCSA 38.97, +0.33) and Deere (DE 93.97, +0.74) will report their quarterly results prior to the opening bell.

The U.S. Treasury will auction off $24 billion in 10-yr notes.DJ30 +47.46 NASDAQ -5.51 SP500 +2.42 NASDAQ Adv/Vol/Dec 1517/1.70 bln/949 NYSE Adv/Vol/Dec 1935/613.8 mln/1054

3:30 pm :

Mar crude oil traded higher during today's pit trade on OPEC's increased 2013 demand forecast. A weaker dollar index also supported higher prices. The energy component brushed a session high of $97.75 per barrel in afternoon action and settled with a 0.5% gain at $97.48 per barrel.
Mar natural gas fell into negative territory in late morning action and trended lower for the remainder pit trade. It closed 1.5% lower at $3.23 per MMBtu, or just above its session low of $3.22 per MMBtu.
Apr gold inched higher after coming off its session low of $1641.60 per ounce as the dollar index declined. The move came on a statement by the G7 reaffirming their longstanding commitment to market determined exchange rates. In addition, North Korea claimed that it has successfully detonated a nuclear device at an underground site. The yellow metal brushed a session high of $1653.80 per ounce in afternoon pit action and settled with a 70 cent gain at $1649.60 per ounce.
Mar silver also climbed into positive territory after trading as low as $3.71 per ounce in early morning floor action. It eventually settled 0.3% higher at $31.02 per ounce, or slightly below its session high of $31.09 per ounce.

DJ30 +53.69 NASDAQ -4.06 SP500 +2.75 NASDAQ Adv/Vol/Dec 1466/1414.4 mln/965 NYSE Adv/Vol/Dec 1879/404 mln/1074

3:00 pm : The S&P 500 is adding 0.2% after the index retreated from its early afternoon highs. With little economic data of note, today's trading sentiment has been shaped mostly by earnings.

The most notable reports of the day came from consumer companies. Coca-Cola (KO 37.50, -1.11) beat on earnings, but its outlook cautioned against global uncertainty. On the flip side, Avon Products (AVP 21.00, +3.72) is spiking 21.5% following a mixed report. The cosmetics manufacturer beat the Capital IQ earnings estimate while its revenue missed expectations. In addition, Avon said it expects about $50 million in first quarter after-tax losses resulting from Venezuela's currency devaluation.

Following today's close, Blue Nile (NILE 30.45, -0.68) and Buffalo Wild Wings (BWLD 79.90, +2.99) are scheduled to report their results.DJ30 +56.42 NASDAQ -2.70 SP500 +3.06 NASDAQ Adv/Vol/Dec 1482/1.28 bln/968 NYSE Adv/Vol/Dec 1879/368.5 mln/1081

2:30 pm : The S&P 500 is adding 0.2% after slipping off its afternoon highs.

The January Treasury Budget showed a surplus of $2.88 billion, which was better than the deficit of $2.0 billion expected by the Briefing.com consensus. The report has mattered little to market participants as equity indices did not respond to the news.DJ30 +56.08 NASDAQ -1.66 SP500 +3.22 NASDAQ Adv/Vol/Dec 1460/1.18 bln/975 NYSE Adv/Vol/Dec 1882/337.8 mln/1070

2:00 pm : Equities are hovering near their recent highs with the S&P 500 firmer by 0.3%. Afternoon trade continues with financials pacing the advance. Today's bid has pushed the S&P 500 Financial Index above 240, its best level since the Lehman collapse. The rise to multi-year highs is taking place with the assistance of several majors. Bank of America (BAC 12.18, +0.33) and Citigroup (C 44.41, +1.26) are both up near 3.0%.

Meanwhile, European banks are also enjoying an upbeat session. Barclays (BCS 20.55, +1.72) is a notable standout as it trades higher by 9.1%. Earlier, the company beat on earnings and announced plans to cut about 3,700 jobs in order to save up to GBP1.7 billion in costs.DJ30 +62.36 NASDAQ -1.83 SP500 +3.76 NASDAQ Adv/Vol/Dec 1462/1.08 bln/960 NYSE Adv/Vol/Dec 1921/309.5 mln/996

1:30 pm : The major averages are trading near their respective highs with the S&P 500 up 0.3%. Recent trade has seen equities rise to fresh highs as eight of ten S&P sectors notched a fresh session high. Consumer staples and tech stocks are the exceptions as the two have yet to set new afternoon highs.

Staple stocks are underperforming with Coca-Cola (KO 37.57, -1.04) lower by 2.7%. The beverage giant beat on earnings, but its outlook pointed to continued global uncertainty.

Elsewhere, technology stocks are attempting to overcome morning weakness. Apple (AAPL 473.69, -6.24) is down 1.3% after the company's Chief Executive Officer did not hint at near-term changes to the company's dividend policy.DJ30 +65.28 NASDAQ +2.70 SP500 +4.91 NASDAQ Adv/Vol/Dec 1451/1.02 bln/935 NYSE Adv/Vol/Dec 1951/287.5 mln/955

1:05 pm : At midday, the major averages are registering slim gains. The S&P 500 is adding 0.3% while the tech-heavy Nasdaq is seeing little change. After enduring the year's lowest daily volume yesterday, today's trade has been slightly more active. However, intraday volume is pacing slightly below average.

With no economic data released this morning, the attention focused on earnings with several consumer companies reporting their quarterly results. Discretionary stocks are trading higher after Fossil (FOSL 112.75, +5.29) and Michael Kors (KORS 63.31, +6.31) reported strong results.

On the flip side, consumer staples are lagging, Coca-Cola (KO 37.65, -0.96) is slipping 2.5% despite beating on earnings. The underperformance is stemming from a cautious outlook citing continued uncertainty in the European and Asian markets.

While staple stocks trade in the red, Avon Products (AVP 20.73, +3.45) has been a notable standout. The stock is surging 20.4% after reporting mixed results. The cosmetics manufacturer eclipsed the Capital IQ earnings estimate while its revenue missed expectations.

In addition, Avon said it expects about $50 million in first quarter after-tax losses resulting from Venezuela's currency devaluation. In addition to consumer staples, the tech sector is registering slim losses. The space is being pressured by its largest component, Apple (AAPL 473.09, -6.84), which trades lower by 1.4%. The weakness comes after Chief Executive Officer Tim Cook failed to provide further indication suggesting a near-term dividend hike is in the cards.

Today's lone economic data point will come from the U.S. Treasury which is scheduled to release its January budget at 14:00 ET.DJ30 +48.03 NASDAQ +2.82 SP500 +4.17 NASDAQ Adv/Vol/Dec 1455/933.5 mln/934 NYSE Adv/Vol/Dec 1896/263.2 mln/1009

12:35 pm : The S&P 500 is adding 0.2% after the benchmark index climbed to fresh highs. Today's volume indicates a slightly more active session as compared to yesterday, but floor volume remains below its average intraday pace.

The financial sector has maintained its lead as Bank of America (BAC 12.14, +0.27) and Citigroup (C 44.18, +1.03) pace the sector. The two stocks are both up near 2.3%.

Elsewhere, the telecom space began the day in the red, but has climbed throughout the first half. The sector is outperforming as AT&T (T 35.53, +0.30) and Sprint Nextel (S 5.87, +0.08) trade with respective gains of 0.9% and 1.2%.DJ30 +39.59 NASDAQ -2.29 SP500 +2.21 NASDAQ Adv/Vol/Dec 1400/845.4 mln/972 NYSE Adv/Vol/Dec 1815/239.2 mln/1066

12:00 pm : Quiet trade continues as the major averages remain huddled around the unchanged line. The Dow and S&P 500 are registering slim gains while the tech-heavy Nasdaq is off by 0.1%.

Financials and industrials are the day's top performers. Within the financial sector, major banks are trading higher with Bank of America (BAC 12.12, +0.26) and Citigroup (C 44.20, +1.05) in the lead. The two stocks are seeing respective gains of 2.3% and 2.4%.

Elsewhere, the industrial sector is climbing as defense stocks trade higher. Gencorp (GY 11.50, +0.74) is jumping 6.9% after reporting earnings which saw the company's revenue rise 18.2% year-over-year. Meanwhile, the broader PHLX Defense Sector Index is adding 0.6%.DJ30 +37.34 NASDAQ -3.60 SP500 +1.91 NASDAQ Adv/Vol/Dec 1389/744.1 mln/940 NYSE Adv/Vol/Dec 1785/215.8 mln/1076

11:30 am : The key indices continue to trade in range bound fashion. The S&P 500 has spent the entire morning in a four point range, and the benchmark index is now adding 0.1%.

Though the broader market is seeing little change, some pockets of strength are visible. The financial sector is the day's top performer as several names trade at their multi-year highs. Citigroup (C 44.16, +1.01) is a notable standout as it trades higher by 2.3%.

While financials are outperforming, the tech sector is the day's biggest laggard. Apple (AAPL 471.20, -8.73) is down 1.8% after company Chief Executive Officer Tim Cook did not prove further indication suggesting a dividend hike is in the cards.DJ30 +37.74 NASDAQ -1.43 SP500 +2.03 NASDAQ Adv/Vol/Dec 1395/660.2 mln/919 NYSE Adv/Vol/Dec 1781/194.3 mln/1052

11:05 am : After 90 minutes of trade, the major averages have yet to stage a decisive move one way or the other. The S&P 500 is adding 0.1% while tech-heavy Nasdaq is flat.

The S&P 500 is being supported in part by consumer discretionary stocks. The space is outperforming after Fossil (FOSL 112.47, +5.01) and Michael Kors (KORS 63.20, +6.20) reported strong quarterly results. Fossil's earnings met analyst expectations but the company's revenue came in ahead of estimates. Meanwhile, Michael Kors beat on earnings, revenue, and issued upbeat guidance.

On the downside, technology stocks are underperforming. Apple (AAPL 475.25, -4.68) is down 1.0% following comments from the company's Chief Executive Officer, Tim Cook, who said the company will evaluate all options when it comes to enhancing returns to shareholders. In addition, Mr. Cook said the shareholder lawsuit started by Greenlight Capital is "a silly sideshow."DJ30 +29.28 NASDAQ +0.83 SP500 +1.46 NASDAQ Adv/Vol/Dec 1332/532.1 mln/925 NYSE Adv/Vol/Dec 1723/163.1 mln/1085

10:35 am : Commodities are mostly higher given the weakness in the dollar index this morning. Overnight, the dollar index hit a four-week high, but has since pulled back about 0.5% off that HoD.

Gold futures are flat currently, after hitting a 6-month low. Silver futures are also flat. Both have spent the majority of the trading session in the red.

Crude oil futures were trading in negative territory and below the $97 level overnight, but around 5:45am EST, buyers stepped in and bid up oil, pushing the Mar futures contract to the current HoD of $97.79. Nat gas has traded around $3.27-3.31 this morning.

In current action, Mar crude oil is +0.5% at $97.51/barrel, Mar nat gas is +0.1% at $3.28/MMBtu, Apr gold is +0.01% at $1649.20/oz and Mar silver is -0.02% at $ 30.91/oz.DJ30 +15.25 NASDAQ -2.31 SP500 +0.43 NASDAQ Adv/Vol/Dec 1294/404.0 mln/897 NYSE Adv/Vol/Dec 1622/132 mln/1132

10:00 am : The major averages continue to trade within points of their respective unchanged levels. The Nasdaq is underperforming slightly as several technology names lag. Level 3 Communications (LVLT 21.51, -3.15) is slumping12.7% after the company's earnings fell short of investor expectations.

Elsewhere in tech, Qualcomm (QCOM 65.82, -1.36) is down 2.0% after JPMorgan Chase downgraded the stock to 'Neutral' from 'Overweight.'

Also of note, the largest tech stock, Apple (AAPL 475.75, -4.15) is shedding 0.9%.DJ30 +18.28 NASDAQ -1.36 SP500 +0.87 NASDAQ Adv/Vol/Dec 1175/237.5 mln/915 NYSE Adv/Vol/Dec 1583/86.9 mln/1093

09:50 am : After showing indecision during the initial minutes of trade, the major averages are trading with a slight bearish bias. However, the early losses have been limited, and the S&P 500 is shedding just 0.1%.

With no economic data released this morning, equities are responding to earnings results. Most notably, Avon Products (AVP 19.39, +2.11) is jumping 12.3% after reporting mixed results. The cosmetics manufacturer eclipsed the Capital IQ earnings estimate while its revenue missed expectations. In addition, the company said it expects about $50 million in first quarter after-tax losses stemming from the impact of Venezuela's currency devaluation.

Elsewhere, Michael Kors (KORS 63.90, +6.90) is surging 12.2% after beating on earnings and revenue. The apparel designer topped off its earnings report with upbeat fourth quarter earnings and revenue guidance.DJ30 -0.50 NASDAQ -2.27 SP500 -0.71 NASDAQ Adv/Vol/Dec 1070/163.8 mln/926 NYSE Adv/Vol/Dec 1433/68.0 mln/1195

09:18 am : [BRIEFING.COM] S&P futures vs fair value: +0.80. Nasdaq futures vs fair value: -2.60. Heading into the open, equity futures remain mixed. The S&P 500 futures are registering marginal gains while Nasdaq futures are off by 0.1%.

This morning, several companies in the consumer staples sector reported earnings. Avon Products (AVP 18.75, +1.47) and Coca-Cola (KO 38.20, -0.41) both reported earnings beats on lower-than-expected revenue. However, their shares are headed in opposite directions. Avon is surging 8.5% while Coca-Cola is off by 1.1%.

In addition, Reynolds American (RAI 43.40, -0.82) is down 1.9% despite the company's earnings beat and upside full-year 2013 bottom line guidance.

Today's economic data will be limited to the January Treasury budget which will be reported at 14:00 ET.

The U.S. Treasury will auction off $32 billion in 3-yr notes.

09:04 am : [BRIEFING.COM] S&P futures vs fair value: +0.80. Nasdaq futures vs fair value: -2.80. Equity futures are mixed amid generally positive overseas trade. The S&P 500 futures are adding 0.1% while Nasdaq futures are off by 0.1%. The pre-market sentiment follows yesterday's session which saw the lowest volume of the year.

Today is shaping up to be a bit more active with the market reacting to earnings from several names. Coca-Cola (KO 38.40, -0.21) is shedding 0.5% following mixed earnings. The beverage producer beat on earnings, but its revenue fell short of the Capital IQ consensus estimate.

Elsewhere, Avon Products (AVP 17.00, -0.28) is surging 7.1% after reporting mixed results. The cosmetics manufacturer eclipsed the Capital IQ earnings estimate while its revenue missed expectations. In addition, the company said it expects about $50 million in first quarter after-tax losses stemming from the impact of Venezuela's currency devaluation.

The January Treasury budget will be reported at 14:00 ET.

08:25 am : S&P futures vs fair value: +1.20. Nasdaq futures vs fair value: -2.80.

U.S. equity futures are mixed. The S&P 500 futures are adding 0.1% while futures on the Nasdaq register marginal losses.

The major Asian bourses ended mostly higher despite North Korea going ahead with a nuclear test. The test was the third for North Korea since the program began in the 1960s, and sparked an artificial earthquake that registered a 5.1 seismic reading. Leaders from the international community criticized the action. Elsewhere, Japan's Nikkei (+1.9%) was the leader after a U.S. Treasury official at the G20 suggested the U.S. supports Japan's efforts to end its two-decade plus period of economic malaise. Markets in Hong Kong and Shanghai remained closed for the Lunar New Year. Regional data showed Australia's NAB Business Confidence climb to 3 (2 previous) and India's industrial production slip 0.6% year-over-year (1.1% expected).

In Japan, the Nikkei closed +1.9% as financials paced the advance. Nomura Holdings was the top performer in the space, jumping 5.5%; however Mizuho Financial and Daiwa Securities also posted strong gains of 4.8% and 4.0% respectively. Exporters continued to see gains as Toyota Motor added 0.5% and Canon tacked on 2.2%.
Hong Kong's Hang Seng was closed for the Lunar New Year.
In China, the Shanghai Composite was closed for the Lunar New Year.
India's Sensex added 0.5% to end its eight-day losing streak. Tata Motors and Coal India gained 2.0% and 2.6% respectively as traders ready for their earnings which are due out later this week. Elsewhere, Jindal Steel shed 3.3% after its net profit fell 13% in the quarter.
In Australia, the ASX settled flat amid a mixed session for the financials. Heavyweight CBA jumped 0.6% to close at an all-time high; however, rivals ANZ, Westpac, and NAB all shed between 0.6% and 0.8%. Gold shares were under pressure as the yellow metal lost ground. Newcrest Mining and St. Barbara gave up 2.0% and 3.3% respectively.

European indices are generally higher with Germany's DAX lagging as it trades flat. Looking at notable economic data, France reported a current account deficit of EUR3.60 billion. This was higher than the prior deficit of EUR2.80 billion. The United Kingdom reported mixed inflation data. The country's CPI slipped 0.5% month-over-month while a downtick of 0.4% was generally expected. Meanwhile, the year-over-year reading came in at 2.7%, slightly cooler than the 2.8% expected by the consensus. Core CPI increased 2.3% year-over-year, below the 2.4% forecast by the market.

In regional news, the alleged kickback scandal continues in Spain as 12 People's Party officials are expected to publish their financial records. Prime Minister Rajoy has already taken this step, but the actions have been met with public skepticism. Also of note, the head of Italy's state-controlled defense contractor Finmeccanica was arrested in a corruption probe. Elsewhere, European Central Bank Vice President Vitor Constancio said G-20 nations ought to reaffirm their commitment to floating exchange rates at the upcoming summit.

Germany's DAX is flat with exporters underperforming. BMW and Daimler are down 0.8% and 1.1% respectively. On the upside, Deutsche Lufthansa is adding 1.5%.
France's CAC is rising 0.3% with consumer stocks in the lead. Pernod-Ricard is rising 1.6% and L'Oreal is firmer by 3.7% after the company announced plans to buy back EUR500 million worth of shares during the first half of the year.
In the United Kingdom, the FTSE is higher by 0.4% as financials show relative strength. Barclays, Lloyds Banking Group, and Royal Bank of Scotland are all up between 2.8% and 6.5%. Earlier, Barclays said it will cut about 3,700 jobs in order to save up to GBP1.7 billion in costs.

08:02 am : [BRIEFING.COM] S&P futures vs fair value: -1.10. Nasdaq futures vs fair value: -5.00.

U.S. equity futures are slightly lower despite generally positive European trade. The S&P 500 futures are off by 0.1%.

Looking at overnight developments:

Markets in China and Hong Kong remained closed for Golden Week. Meanwhile, Japan's Nikkei climbed 1.9%, India's Sensex added 0.5%, and South Korea's KOSPI shed 0.3%.
In economic data:
Japan's M2 money stock rose 2.7% year-over-year, slightly ahead of the generally expected rise of 2.6%. Meanwhile, the country's household confidence climbed to 43.3, ahead of the 40.5 expected by the market.
Australia's NAB Business Confidence Index rose to 3 from the prior reading of 2.
In news:
North Korea claims it has successfully detonated a nuclear device at an underground site. The test came despite China, Japan, and the United States warning against such action.
Japan's Finance Minister Taro Aso said the country supports exchange rates determined by the market and the nation is attempting to fight inflation rather than target foreign exchange.
European indices are generally higher as midday nears. Germany's DAX is adding 0.1%, the United Kingdom's FTSE is higher by 0.3%, and France's CAC is rising 0.4%.
Looking at notable economic data:
France reported a current account deficit of EUR3.60 billion. This was higher than the prior deficit of EUR2.80 billion.
The United Kingdom reported mixed inflation data. The country's CPI slipped 0.5% month-over-month while a downtick of 0.4% was generally expected. Meanwhile, the year-over-year reading came in at 2.7%, slightly cooler than the 2.8% expected by the consensus. Core CPI increased 2.3% year-over-year, below the 2.4% forecast by the market.
In regional news:
In Spain, the alleged kickback scandal continues as 12 party officials are expected to publish their financial records. Prime Minister Rajoy has already taken this step, but the actions have been met with public skepticism.
European Central Bank Vice President Vitor Constancio said G-20 nations ought to reaffirm their commitment to floating exchange rates at the upcoming summit.

In U.S. corporate news:

Avon Products (AVP 17.00, -0.28) is down 1.6% after reporting mixed results. The cosmetics manufacturer eclipsed the Capital IQ earnings estimate while its revenue missed expectations. In addition, the company said it expects about $50 million in first quarter after-tax losses stemming from the impact of Venezuela's currency devaluation.
Coca-Cola (KO 38.41, -0.20) is shedding 0.5% following mixed earnings. The beverage producer beat on earnings, but its revenue fell short of the Capital IQ consensus estimate.
Fossil (FOSL 111.49, +4.03) is higher by 3.8% after reporting in-line earnings on better-than-expected revenue. However, the company guided first quarter top and bottom lines below consensus while leaving full-year earnings and revenue estimates intact.

The January Treasury budget will be reported at 14:00 ET.

The U.S. Treasury will auction off $32 billion in 3-yr notes.

06:22 am : [BRIEFING.COM] S&P futures vs fair value: -0.50. Nasdaq futures vs fair value: -1.50.

06:22 am : Nikkei...11369.12...+216.00...+1.90%. Hang Seng...Holiday.........

06:22 am : FTSE...6303.68...+26.60...+0.40%. DAX...7657.70...+24.10...+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

http://www.thestrategylab.com
Phone: +1 708 572-4885
Business Hours: 8am - 5pm est (Mon - Fri)
Skype Messenger: kebec2002
questions@thestrategylab.com
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