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 Post subject: April 5th Friday Trade Results - No Trades
PostPosted: Fri Apr 05, 2013 11:27 pm 
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)

Quote:
Personal day off from trading. Simply, no trades today even though I watched the price action of Gold GC futures, Forex EurUsd and Emini ES futures to help a client better understand WRB Hidden GAPs and price action trading.

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $0.00 dollars or +0.00 points, Light Crude Oil CL ($CL_F) futures @ $0.00 dollars or +0.00 points, Gold GC ($GC_F) futures @ $0.00 dollars or +0.00 points, EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks and Emini ES ($ES_F) futures @ $0.00 dollars or +0.00 points. Total Profit @ $0.00 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
Gold GC Futures: 1 tick or 0.10 = $10.00 dollars and there's more contract information @ CMEGroup
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 about each one of my trades via price action trading from entry to exit (e.g. time, price, contract size) 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=116&t=1477

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=207&t=1794

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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 for price action trading 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.

S&P 500 Has Worst Week Of The Year

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

NEW YORK (CNNMoney)
U.S. stocks slumped Friday after a sorely disappointing jobs report.

The Dow Jones industrial average lost more than 40 points, or 0.3%. The S&P 500 fell 0.4% and the Nasdaq dropped 0.7%. All three indexes were twice as deep in the red earlier in the day.

With the day's move down, the S&P 500 and Nasdaq closed out their weakest week of the year. The S&P 500 dropped 1%, while the Nasdaq lost 2%. The Dow slipped 0.1% for the week, marking its second worst performance of the year.

Friday's sell-off was broad based, with about 60% of the Dow's 30 components ending in the red. Technology stocks were among the biggest losers, after a leader in the networking equipment sector warned of a weak quarter ahead.

Ugly jobs report: The U.S. Labor Department's monthly report showed that the economy added only 88,000 jobs in March, the lowest monthly gain since last June and far below expectations. Economists surveyed by CNNMoney had expected a gain of 190,000 jobs.

The unemployment rate slipped to 7.6%, but that was also bad news because nearly 500,000 people dropped out of the labor market. The labor force participation rate, which measures how many people are employed or looking for jobs, fell to 63.3% -- its lowest level since May 1979.

The gloomy snapshot sent investors rushing toward U.S. Treasuries. The 10-year yield dropped to 1.7%, its lowest level since December 2012. Gold, which is also perceived to be a traditional safe haven, gained 1.5%.

Rally gets tested: "The disappointing jobs report is a cold slap of reality in the face to many investors," said Jack Ablin, chief investment officer at BMO Private Bank, adding that stocks had run up too far considering that the global recovery, particularly business sentiment, remains on shaky ground.

Many market watchers have been warning that after rallying to new all-time highs during the first quarter, stocks are due for a short pullback. And the jobs report could be the catalyst, said Tom Schrader, managing director at Stifel Nicolaus.

However, both Schrader and Ablin stressed that stocks remain attractive. With interest rates still low, stocks could resume rallying soon.

"The path of least resistance is higher," said Ablin. "If you look at stocks through the lens of the bond market, it's the most attractive place to be."

* Fear & Greed Index: Neutral

What's moving: Shares of F5 Networks (FFIV) plunged 19% after the technology company announced preliminary quarterly earnings and sales that fell well short of expectations. F5 competitors Cisco Systems (CSCO, Fortune 500) and Juniper Networks (JNPR) were also under pressure.

In South Korea, Samsung Electronics said its first-quarter sales and earnings would be better than forecasts. Hopes are also high for Samsung's latest Galaxy smartphone. The Galaxy S4 could present more competition to iPhone maker Apple (AAPL, Fortune 500), which is back near its 52-week low.

Related: Bitcoins are a bubble

World markets: European markets also in the wake of the U.S. jobs report. The FTSE 100 in London and CAC 40 in Paris dropped about 1.5%, while the DAX in Frankfurt lost about more than 2%.

Asian markets ended mixed. Japan's Nikkei added 1.6% as the BoJ-induced rally continued. The Nikkei reached its highest level in nearly five years on Friday, as the Bank of Japan took aggressive action to counter persistent deflation by pumping more money into the economy.

Hong Kong's Hang Seng tumbled 2.7%. Shanghai's market was closed for a holiday.

The dollar was lower against the euro and the British pound, but higher versus the Japanese yen. Oil prices slipped.

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4:25 pm : The major averages ended today's session with modest losses. The S&P 500 shed 0.4% while the tech-heavy Nasdaq lost 0.7%.

The bulk of today's selling occurred at the open as three points of concern sent investors in search of safety. Headlines from Asia indicated North Korea has not toned down its war rhetoric and South Korean officials confirmed that the North has moved a pair of mid-range missiles to its east coast.

In addition to the Korean concerns pressuring the broader market, disappointing second quarter guidance from F5 Networks (FFIV 73.21, -17.21) contributed to the relative weakness of the tech sector, which ended as the day's biggest laggard.

While the two items pressured index futures in pre-market trade, a disappointing March nonfarm payrolls report ensured a sharply lower start to the cash session.

Nonfarm payrolls added just 88,000 new jobs in March. That was down from an upwardly revised 268,000 (from 236,000) additions in February and was the smallest increase in jobs since June 2012. The Briefing.com consensus expected payrolls to add 192,000 jobs.

Although the three headwinds caused the S&P 500 to start lower by 1.3%, the benchmark average notched its lows during the opening minute before spending the remainder of the day in a steady climb.

The morning developments sparked a safety bid across the Treasury complex. As a result, the 10-yr yield fell to its lows before recovering three basis points into the close. However, Treasuries ended near their best levels of the week with the 10-yr yield down 17 basis points at 1.70%.

The technology sector felt the brunt of today's selling pressure as F5 Networks' cautious guidance weighed on other networking companies. In addition, large cap tech names saw outsized losses as well. The largest tech component, Apple (AAPL 423.20, -4.52), lost 1.1%, and settled near its 52-week low. Notably, chipmakers underperformed in early trade, but finished the day ahead of the tech sector. The PHLX Semiconductor Index shed 0.5%.

Although growth-oriented sectors were among the biggest decliners in early trade, those groups were able to climb off their lows. Financials, industrials, and materials outperformed the defensively-minded consumer staples and health care sectors.

It should be noted that health care and consumer staples are the top performing sectors year-to-date, therefore some profit taking may have played a part in their underperformance today.

On the upside, telecoms and utilities settled in the black. The SPDR Utilities Select Sector ETF (XLU 39.57, +0.17) added 0.4%, and was the top performing sector ETF as investors sought higher-yielding equities.

While the broader market finished well off its lows, the Dow Jones Transportation Average was able to stage a stunning reversal. The bellwether complex was down as much as 2.2% at the start of the session before ending with a gain of 0.5%. Truckers were among the top index performers as Con-way (CNW 34.01, +0.96) advanced 2.9%.

Looking back at the day's final sector performance, technology (-1.0%), consumer staples (-0.7%), and health care (-0.6%) were among the biggest laggards. Meanwhile, utilities (+0.4%), telecom (+0.4%), energy (UNCH), and industrials (-0.2%) outperformed.

Reviewing today's remaining economic data, private nonfarm payrolls rose 95,000, but that was still well below consensus forecasts (210,000), and what was added in February (254,000).

The unemployment rate dipped to 7.6% in March from 7.7% in February. The decline in the unemployment rate, however, was not due to job growth. The labor force participation rate dropped to levels not seen since the late 1970s and caused the unemployment rate to decline. If the labor force participation rate had remained at February levels, the unemployment rate would have increased to 7.9%.

The U.S. trade deficit narrowed in February, dropping from $44.5 billion in January to $43.0 billion. The Briefing.com consensus expected the deficit to increase slightly to $44.7 billion.

Consumer credit increased by $18.1 billion in February after increasing a downwardly revised $12.7 billion (from $16.2 billion) in January. The Briefing.com consensus expected consumer credit to increase by $14.0 billion.

There is no economic news of note scheduled for a Monday release.

On Tuesday, February wholesale inventories will be reported at 10:00 ET.

Week in Review: S&P 500 Alternates Between Gains and Losses

On Monday, stocks saw little change at the start of the session with European markets shuttered for Easter Monday. However, that changed quickly once the March ISM Index was reported below expectations. The Index was reported at 51.3, which was its lowest reading since December, and it sent the major averages to their lows with cyclical sectors pacing the decline. The SPDR Industrial Select Sector ETF (XLI 40.97, -0.08) fell 1.2%. Transportation-related stocks did their part in pressuring the space as the Dow Jones Transportation Average ended lower by 1.5%. All 20 stocks comprising the Transportation Average settled in the red, and truckers were among the weakest performers. Ryder System (R 57.83, +0.33) and Landstar (LSTR 55.55, +1.24) saw respective losses of 1.8% and 2.4%.

Equities spent the bulk of Tuesday's session near their highs before a late afternoon stumble dropped the S&P 500 back near the middle of its range. As a result, the benchmark average finished higher by 0.5%. Notably, the Russell 2000, which tracks small cap stocks, ended lower by 0.5% after losing more than 1.0% on Monday. The health care sector showed strength out of the gate with managed care stocks jumping after the Centers for Medicare and Medicaid Services said 2014 Medicaid Advantage and prescription drug benefit rates will increase by 3.3%. Dow component UnitedHealth Group (UNH 62.10, +0.07) gained 4.7%.

Wednesday saw a steady decline and the S&P 500 settled lower by 1.1%. Notably, small cap stocks extended their recent weakness as indicated by a 1.7% decline in the Russell 2000. The Dow Jones Transportation Average finished lower by 1.3% with airlines leading the decline. Delta Air Lines (DAL 14.39, -0.36) and United Continental (UAL 29.27, -0.03) both lost 2.5%. Notably, Wednesday marked the third consecutive session which saw the bellwether complex end with a loss of at least 1.0%.

On Thursday, equities began the day on a mixed note. The S&P 500 climbed higher out of the gate while Nasdaq slipped into the red, where it spent the majority of the session. After the prior day's selloff caused the benchmark average to slide 1.1%, a handful of Wednesday's underperformers began among the leaders. However, the early leadership did not hold into the afternoon as some defensive sectors began appearing atop the leaderboard. Counter-cyclical telecoms and utilities climbed throughout the day, and saw the largest gains.DJ30 -40.86 NASDAQ -21.12 SP500 -6.70 NASDAQ Adv/Vol/Dec 992/1.56 bln/1447 NYSE Adv/Vol/Dec 1437/725.5 mln/1568

3:30 pm :

May crude oil fell for a third consecutive session as this morning's weak jobs data weighed on prices. The employment report showed that only 88,000 nonfarm jobs were added in March while the Briefing.com consensus expected the reading to come in at 192,000. The energy component brushed a session low of $92.01 per barrel in morning floor trade and eventually settled at $92.71 per barrel, slightly below its session high of $93.03 per barrel. Today's decline brought the week's losses to 4.6%.
June gold rose for the first time in six sessions as the large miss on nonfarm payrolls and a weaker dollar index boosted prices. The yellow metal lifted off its session low of $1550.10 per ounce and touched a session high of $1576.40 per ounce. It settled at $1576.00 per ounce, shaving its weekly loss to 1.3%.
May silver also trended higher following the jobs report. It traded as low as $26.80 per ounce in early morning floor trade but climbed to a session high of $27.24 per ounce as it headed into the close. It settled at $27.22 per ounce, booking a 3.9% loss for the week.
May natural gas, on the other hand, extended yesterday's gains as it trended higher for its entire pit session. It lifted off its session low of $3.98 per MMBtu and climbed as high as $4.14 per MMBtu after getting a boost from positive comments from Goldman. It settled at $4.13 per MMBtu, booking a 2.7% gain for the week.

DJ30 -92.43 NASDAQ -32.57 SP500 -11.60 NASDAQ Adv/Vol/Dec 858/1269.4 mln/1588 NYSE Adv/Vol/Dec 1184/457 mln/1788

3:00 pm : Equities continue to hover near their best levels of the afternoon with the S&P 500 off by 0.8%.

According to the Federal Reserve, consumer credit increased by $18.1 billion in February. This follows the prior month's revised increase of $12.7 billion, and is higher than the $14.0 billion that had been broadly expected among economists polled by Briefing.com.DJ30 -93.23 NASDAQ -31.69 SP500 -11.91 NASDAQ Adv/Vol/Dec 875/1.18 bln/1556 NYSE Adv/Vol/Dec 1221/423.9 mln/1758

2:35 pm : The S&P 500 is lower by 0.8% as equities continue their slow climb off session lows notched one minute after the opening bell. The early weakness occurred as investors continued showing concern over the war rhetoric coming out of North Korea. In addition, disappointing earnings guidance from networking company F5 Networks (FFIV 72.89, -17.53) contributed to the underperformance of technology. Lastly, a disappointing March employment report also factored into the morning selloff.

While cyclical sectors continue to trade in the red, the Dow Jones Transportation Average has climbed into positive territory with truckers leading the way. Con-way (CNW 33.75, +0.70) trades higher by 2.1%, and is the top performer among the 20-stock Transportation Average.

Note that February consumer credit will be reported at 15:00 ET.DJ30 -81.51 NASDAQ -31.89 SP500 -11.70 NASDAQ Adv/Vol/Dec 864/1.09 bln/1558 NYSE Adv/Vol/Dec 1202/389.9 mln/1763

2:05 pm : Recent trade saw the S&P 500 continue its slow climb off session lows. Currently, the benchmark average is off by 0.8% and the technology sector is the only group which trades with a loss of more than 1.0%. Notably, F5 Networks (FFIV 72.73, -17.69) is down 19.6% as the stock continues to trade near its lowest level of the day.

On the upside, defensively-minded telecoms and utilities trade with slim gains as investors show preference for higher-yielding equities. In addition, the energy sector is showing relative strength as well. However, keep in mind that, entering today, energy was the weakest performing sector in April.DJ30 -89.10 NASDAQ -34.71 SP500 -12.56 NASDAQ Adv/Vol/Dec 816/1.02 bln/1594 NYSE Adv/Vol/Dec 1120/364.3 mln/1842

1:30 pm : The S&P 500 hovers near its best levels of the afternoon as equities attempt to rebound from earlier weakness. Although today's weakest sectors remain firmly lower, utilities and telecoms have climbed into positive territory as investors favor higher-yielding equities.

While cyclical sectors are among the biggest laggards, the energy space trades with a loss of just 0.3%. The relative strength of the economically-sensitive group is largely due to the outperformance of refiners. Phillips 66 (PSX 62.89, +0.50) and CVR Refining (CVRR 31.42, +0.38) trade with respective gains of 0.7% and 1.2%.

It should be noted that even though stocks have climbed off their lowest levels of the day, the 10-yr yield remains on its lows, suggesting the earlier safety bid remains in place. The 10-yr yield is down eight basis points, at 1.69%.DJ30 -89.55 NASDAQ -32.43 SP500 -11.98 NASDAQ Adv/Vol/Dec 805/936.8 mln/1581 NYSE Adv/Vol/Dec 1143/333.7 mln/1806

1:00 pm : The major averages began today's session with sharp losses after three items of note pressured equity futures to their lows.

Overnight, reports out of Asia pointed to the continuation of fiery rhetoric coming out of North Korea. Adding to the concerns were comments from South Korean officials who confirmed that Pyongyang has moved two missiles to the country's east coast.

In addition to the geopolitical tensions, networking companies were pressured in pre-market trade after F5 Networks (FFIV 74.39, -16.03) issued cautious second quarter guidance after yesterday's close.

The third source of weakness, the March nonfarm payrolls report, sent equity futures to their lows. According to the Bureau of Labor Statistics, only 88,000 nonfarm jobs were added in March. Meanwhile, the Briefing.com consensus expected the reading to come in at 192,000.

The abovementioned headwinds caused the S&P 500 to start the session 1.3% below yesterday's close. Cyclical sectors have led the broader market to the downside and the technology space is the biggest laggard at midday.

Networking stocks trade with outsized losses due to F5 Networks' disappointing guidance, but the remainder of the space has shown considerable weakness as well. Microchip manufacturers are broadly lower with the PHLX Semiconductor Index down 1.5%. Meanwhile, the largest tech stock, Apple (AAPL 422.48, -5.24), is off by 1.2%.

The financial sector is the second biggest laggard of the day. Financials trade firmly lower with American Express (AXP 65.11, -1.62) as the weakest performer among the majors.

Although the S&P has been able to climb off its lows, Treasuries continue to hover near their highs. As a result, the 10-yr yield is lower by seven basis points at 1.69%.

Reviewing today's remaining economic data, nonfarm private payrolls added 95K against the 210K consensus. The unemployment rate was reported at 7.6%, better than the Briefing.com consensus which expected the rate to remain unchanged at 7.7%.

Hourly earnings were unchanged while the Briefing.com consensus expected an uptick of 0.2%. Average workweek was reported at 34.6, which was slightly ahead of the 34.5 expected by the Briefing.com consensus.

Lastly, the trade deficit narrowed to $43.0 billion during February after a downwardly revised prior month deficit of $44.5 billion. Economists polled by Briefing.com had expected that the deficit would come in at $44.7 billion.

Today's heavy dose of economic data will be topped off by a 15:00 ET release of February consumer credit.DJ30 -111.40 NASDAQ -37.75 SP500 -14.82 NASDAQ Adv/Vol/Dec 707/877.9 mln/1671 NYSE Adv/Vol/Dec 1000/309.8 mln/1935

12:30 pm : The S&P 500 continues to hover near the bottom of its range. The benchmark index is down 1.0% with technology showing the biggest weakness. In addition, other cyclical sectors trade with losses near 1.0%.

The defensive utilities group is showing the most strength as the SPDR Utilities Select Sector ETF (XLU 39.41, +0.01) trades flat.

Although stocks have risen off their worst levels of the day, Treasuries continue to trade near their highs. As a result, the 10-yr yield is down seven basis points at 1.69%.DJ30 -124.31 NASDAQ -37.95 SP500 -15.67 NASDAQ Adv/Vol/Dec 666/803.1 mln/1697 NYSE Adv/Vol/Dec 961/285.8 mln/1973

12:00 pm : The major averages continue to trade in the red with the S&P 500 down 0.9%. Although the broader market has climbed off its worst levels of the day, the technology sector remains as the biggest laggard. As a result, the tech-heavy Nasdaq is down 1.1%.

The outsized weakness in technology comes after F5 Networks (FFIV 74.17, -16.25) issued cautious second quarter guidance. Networking stocks trade lower as a result of the downbeat outlook and other tech stocks are down as well. Chipmakers are broadly lower with the PHLX Semiconductor Index down 1.4%.

Currently, the defensive utilities space is the lone advancer. The SPDR Utilities Select Sector ETF (XLU 39.44, +0.04) is higher by 0.1%.DJ30 -118.81 NASDAQ -37.01 SP500 -15.00 NASDAQ Adv/Vol/Dec 667/735.1 mln/1691 NYSE Adv/Vol/Dec 921/264.5 mln/1983

11:35 am : Recent trade saw the major averages climb off their lows. However, the S&P 500 remains firmly in the red, down 0.9%.

Today's early weakness occurred amid a confluence of several factors. Overnight news out of Asia indicated North Korea has continued its fiery rhetoric, and the country's military has moved two missiles to the east coast.

In addition, the technology sector was pressured by disappointing second quarter earnings and revenue guidance from F5 Networks (FFIV 74.18, -16.23).

The final development which sent futures to their lows was the March employment report. This economic release proved to be a disappointment with only 88,000 jobs being added last month.

Though all 10 S&P 500 sectors traded lower at the start, the defensively-minded utilities sector has recently climbed into the green. The SPDR Utilities Select Sector ETF (XLU 39.43, +0.03) is higher by 0.1%.DJ30 -108.91 NASDAQ -35.13 SP500 -13.46 NASDAQ Adv/Vol/Dec 674/659.2 mln/1681 NYSE Adv/Vol/Dec 930/240.2 mln/1952

11:00 am : The major averages continue to trade near their lows with the S&P 500 down 1.1%. A large portion of today's decline is taking place as a result of a disappointing March nonfarm payrolls report, which indicated only 88,000 jobs were added last month.

Currently, consumer discretionary, financials, technology, and materials all trade with losses of at least 1.0%. Today's four weakest sectors all fall in the cyclical category.

The technology space is the biggest laggard with disappointing guidance from F5 Networks (FFIV 73.38, -17.04) contributing to the sector underperformance.

Notably, the broad market weakness has pushed the CBOE Volatility Index (VIX 15.04, +1.15) to its highest level since early March as downside protection receives considerable interest during today's session.DJ30 -121.70 NASDAQ -36.78 SP500 -14.32 NASDAQ Adv/Vol/Dec 569/547.5 mln/1754 NYSE Adv/Vol/Dec 768/202.9 mln/2083

10:30 am : Commodities were volatile this morning with some moving notably on the jobs data.

Following the jobs numbers, gold and silver spiked higher, while crude sold off. Gold popped about $26/oz. Following these spikes this morning, June gold is now +0.7% at $1563.80/oz. May silver is +0.9% at $27.00/oz.

Crude oil futures have been in the red all morning and fell as low as $91.91/barrel. May crude oil attempted to recover, rallying about $0.70/barrel, but is now -1.1% at $92.26/barrel.

Natural gas futures are showing very strong gains this morning, helped by positive comments from Goldman. May nat gas is now +3% at $4.07/MMBtu.DJ30 -142.60 NASDAQ -42.32 SP500 -16.30 NASDAQ Adv/Vol/Dec 465/425.1 mln/1815 NYSE Adv/Vol/Dec 630/169 mln/2195

09:55 am : The major averages continue to trade near their lows and the S&P 500 is off by 1.2%. Meanwhile, the tech-heavy Nasdaq is down 1.5% as cautious guidance from F5 Networks (FFIV 73.33, -17.09) weighs.

As some technology stocks trade down in sympathy with F5 Networks, the sector is also being pressured by the disappointing March nonfarm payrolls report as well as the ongoing worries regarding North Korean intentions after reports indicated Pyongyang has ordered two missiles to be relocated to N. Korea's east coast.

With the technology sector as the biggest laggard, four other cyclical groups trade with losses of more than 1.0%. In addition, the Dow Jones Transportation Average is off by 1.6%.DJ30 -146.40 NASDAQ -47.71 SP500 -17.65 NASDAQ Adv/Vol/Dec 370/236.1 mln/1854 NYSE Adv/Vol/Dec 498/111.5 mln/2264

09:45 am : The major averages trade near their lows with the S&P 500 down 1.1%. The bulk of today's weakness followed a disappointing March payrolls report, which indicated only 88,000 nonfarm jobs were added last month. The Briefing.com consensus expected a reading of 192,000.

The disappointing jobs number also sent the 10-yr yield lower by seven basis points to 1.70%.

All ten S&P 500 sectors trade in the red with six groups showing losses of more than 1.0%.

The technology sector is the weakest early performer with the SPDR Technology Select Sector ETF (XLK 29.55, -0.41) down 1.4%. In addition to the broad market weakness, a profit warning from F5 Networks (FFIV 75.19, -15.23) is pressuring tech stocks. Cisco Systems (CSCO 20.28, -0.76) and Juniper Networks (JNPR 16.90, -1.22) trade with respective losses of 3.8% and 6.8%.DJ30 -137.10 NASDAQ -45.41 SP500 -17.03 NASDAQ Adv/Vol/Dec 307/158.8 mln/1898 NYSE Adv/Vol/Dec 424/87.6 mln/2302

09:16 am : [BRIEFING.COM] S&P futures vs fair value: -17.30. Nasdaq futures vs fair value: -39.30. Heading into the open, equity futures signal a sharply lower start to the cash session. The S&P 500 futures are down 1.2%.

Index futures traded firmly lower ahead of the release of the March employment report as worries surrounding the North Korean war rhetoric weighed. That early weakness was extended when it was reported that only 88,000 nonfarm jobs were added in March. This number was at sharp odds with the Briefing.com consensus, which expected the reading to come in at 192,000.

In addition, the unemployment rate fell to 7.6%, but that decline was not due to job growth. The labor force participation rate dropped to levels not seen since the late 1970s, and caused the unemployment rate to decline. If the labor force participation rate had remained at February levels, the unemployment rate would have increased to 7.9%.

As equity futures fell to fresh session lows, a safety bid across the Treasury complex sent the 10-yr yield lower by eight basis points to 1.69%, its lowest level since December of last year.

The technology sector is expected to show notable weakness after F5 Networks (FFIV 74.21, -16.21) lowered its second quarter guidance. F5 Networks trades lower by 18.0% while peers Cisco Systems (CSCO 20.22, -0.82) and Juniper Networks (JNPR 16.99, -1.13) are down 3.9% and 6.2%, respectively.

09:00 am : [BRIEFING.COM] S&P futures vs fair value: -19.50. Nasdaq futures vs fair value: -42.50.

U.S. equity futures continue to trade near their pre-market lows with the S&P 500 futures down 1.3%.

The major Asian bourses ended mostly lower as concerns over the recent saber-rattling by North Korea weighed. Japan's Nikkei (+1.6%) was the standout as the Bank of Japan's radical easing plan induced traders to gobble up shares. Elsewhere, Hong Kong's Hang Seng (-2.7%) reopened after the one-day holiday with shares being offered on bird flu worries after some cases have been found in China. China's Shanghai Composite and Taiwan's Taiex remained closed for Tomb Sweeping Day. Data from the region saw the Philippines inflation rate ease to 3.2% year-over-year (3.5% expected, 3.4% previous) and Malaysia's trade surplus widen to MYR8.2 billion (MYR5.80 billion expected, MYR3.27 billion previous).

In Japan, the Nikkei advanced 1.6% with exporters rallying thanks to the weak yen. Canon was among the top performers in the space, posting a 3.9% advance. Elsewhere, real estate names were once again strong as Sumitomo Realty Development rocketed up 13.1%.
Hong Kong's Hang Seng finished lower by 2.7% as shares were offered on bird flu worries. Cathay Pacific Airlines and port operator Cosco Pacific ended lower by 4.8% and 4.0% respectively.
In China, the Shanghai Composite was closed.

European markets trade firmly lower with North Korean worries contributing to the weakness. In regional economic data, eurozone retail sales slipped 0.3% month-over-month while a decline of 0.2% was expected by the consensus. Elsewhere, German factory orders climbed 2.3% month-over-month while the market expected an increase of 1.2%.

Looking at news, reports indicate the troika may delay its next tranche of aid to Greece due its dissatisfaction with the country's progress on structural reforms. In France, President Francois Hollande's approval rating has sunk to a new low of 27%.

The United Kingdom's FTSE is lower by 1.7% with airlines showing notable weakness. EasyJet and International Consolidated Airlines Group are down 6.2% and 6.9%, respectively.
France's CAC is down 1.9% with 39 of 40 components trading lower. Steelmaker ArcelorMittal is down 4.3% and retailer PPR is down 2.4%. On the upside, Electricite de France is higher by 1.2%.
In Germany, the DAX is off by 1.9% as industrial names weigh. Deutsche Lufthansa is down 4.6% and HeidelbergCement is lower by 4.2%.

08:34 am : [BRIEFING.COM] S&P futures vs fair value: -19.50. Nasdaq futures vs fair value: -40.50. U.S. equity futures have fallen to their pre-market lows following the disappointing March nonfarm payrolls report. The S&P 500 futures are down 1.3%.

March nonfarm payrolls came in at 88K versus the 192K expected by the Briefing.com consensus. The prior reading was revised up to 268K from 236K. Nonfarm private payrolls added 95K against the 210K consensus. The unemployment rate was reported at 7.6%, better than the Briefing.com consensus which expected the rate to remain unchanged at 7.7%.

Hourly earnings were unchanged while the Briefing.com consensus expected an uptick of 0.2%. Average workweek was reported at 34.6, which was slightly ahead of the 34.5 expected by the Briefing.com consensus.

Separately, the trade deficit narrowed to $43.0 billion during February after a downwardly revised prior month deficit of $44.5 billion. Economists polled by Briefing.com had expected that the deficit would come in at $44.7 billion.

08:05 am : [BRIEFING.COM] S&P futures vs fair value: -9.20. Nasdaq futures vs fair value: -24.50.

U.S. equity futures trade firmly lower amid downbeat European trade. The S&P 500 futures are lower by 0.6%. The pre-market weakness comes ahead of today's release of March nonfarm payrolls and the unemployment rate. The Briefing.com consensus expects nonfarm payrolls to be reported at 192,000 while the unemployment rate is expected to hold steady at 7.7%.

Looking at overseas developments:

Asian markets ended on a mixed note. Hong Kong's Hang Seng lost 2.7% while Japan's Nikkei advanced 1.6%. Elsewhere, China's Shanghai Composite remained closed for the Ching Ming Festival.
Regional economic data was limited:
Japan's leading index was reported at 97.5, ahead of the 97.2 expected by the general consensus.
In news:
Russian officials said North Korea has asked Moscow to consider recalling its staff from the Russian embassy in Pyongyang. However, Russia said it does not plan to evacuate their diplomats at this time. In addition, separate reports indicate the North has moved two of its medium-range missiles to the east coast, and hidden them underground.
In Japan, Bank of Japan Governor Haruhiko Kuroda was confirmed for a full five-year term by the Japanese Diet.
Overnight trading in Japanese Government Bonds was halted on two occasions as yields spiked from 0.33% to 0.58%.

European markets trade firmly lower with core indices underperforming. The United Kingdom's FTSE is down 1.4%, Germany's DAX is lower by 1.8%, and France's CAC is off by 1.9%. Elsewhere, Italy's MIB is shedding 0.6% and Spain's IBEX trades with a loss of 1.2%.
In regional economic data:
Eurozone retail sales slipped 0.3% month-over-month while a decline of 0.2% was expected by the consensus.
German factory orders climbed 2.3% month-over-month while the market expected an increase of 1.2%.
Looking at news:
Reports indicate the troika may delay its next tranche of aid to Greece due its dissatisfaction with the country's progress on structural reforms.
French President Francois Hollande's approval rating has sunk to a new low of 27%.

In U.S. corporate news:

F5 Networks (FFIV 75.36, -15.06) is down 16.7% after lowering its second quarter guidance below consensus. The company said it faced difficulties in closing expected deals as customers hesitated to complete their purchase orders. Peers Cisco Systems (CSCO 20.50, -0.54) and Juniper Networks (JNPR 17.20, -0.92) are down 2.6% and 5.6%, respectively.
Major financials are trading lower with Bank of America (BAC 11.82, -0.12) and Citigroup (C 42.25, -0.52) both down near 1.0%.

In addition to March nonfarm payrolls, nonfarm private payrolls, unemployment rate, hourly earnings, average workweek, and February trade balance will all be reported at 8:30 ET. The busy day will be topped off by a 15:00 ET release of February consumer credit.

06:38 am : [BRIEFING.COM] S&P futures vs fair value: -6.50. Nasdaq futures vs fair value: -19.50.

06:38 am : Nikkei...12833.64...+199.10...+1.60%. Hang Seng...21726.90...-610.60...-2.70%.

06:38 am : FTSE...6274.90...-69.20...-1.10%. DAX...7701.47...-115.20...-1.40%.

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 Image@ http://stocktwits.com/wrbtrader

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