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 Post subject: May 8th Wednesday Trade Results - Profit $980
PostPosted: Thu May 09, 2013 6:43 am 
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Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Business Hours: 8am - 5pm est (Mon - Fri)
questions@thestrategylab.com (24/7)
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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 @ ($900.00) dollars or -9.00 points, Light Crude Oil CL ($CL_F) futures @ $1880.00 dollars or +1.88 points, Gold GC ($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 @ $980.00 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=117&t=1502

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=209&t=1820

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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.

Dow, S&P Hit New Highs In Quiet Trading

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

NEW YORK (CNNMoney)
U.S. stocks pushed higher into record territory Wednesday as investors focused on earnings and an improved outlook for the economy.

The Dow Jones industrial average rose 0.3% to end at a record high, one day after the index closed above 15,000 for the first time. The S&P 500 gained 0.4% to also end at another all-time peak. The Nasdaq added 0.5%.

Investors have been encouraged by better-than-expected corporate earnings for the first quarter, although revenue growth has been weak, said Joe Bell of Schaeffer's Investment Research.

Out of the S&P 500 companies that have reported earnings, 67% have beat analysts' expectations, according to S&P Capital IQ.

Stocks have also been supported by renewed optimism about the economy following last week's surprisingly strong jobs report. "We've been grinding higher on that momentum," said Bell.

There were no major U.S. economic reports Wednesday, although data on Chinese exports and German industrial output were "encouraging," said Peter Cardillo, chief market economist at Rockwell Global Capital.

But there were a lot of earnings. Whole Foods (WFM, Fortune 500) shares surged after the supermarket chain reported quarterly earnings that beat estimates.

Electronic Arts (EA) said it expects earnings in fiscal 2014 to be above what analysts had expected. Shares jumped 15%.

* Hedge fund manager Ackman takes aim at P&P chief

Toyota Motors (TM) reported a surge in profit for its fiscal year 2013, which ended on March 31.

Shares of JCPenney (JCP, Fortune 500) rose after the troubled retailer released a preliminary report showing a decline in quarterly sales that may not have been as bad as some had expected.

Wendy's (WEN) shares fell after the restaurant chain reported sales that missed forecasts. Investors slammed AOL (AOL) for missing earnings estimates. (You've got fail! AOL down 10%)

Apple (AAPL, Fortune 500) shares extended the rally they've enjoyed since the company announced a record share buyback program last month.

Shares of Manchester United (MANU) fell nearly after the long-time manager of the English soccer team announced he would retire. This comes less than a year after the company went public. (How Man U makes money)

* Apple picks itself up off the mat

After the market closed, Green Mountain Coffee Roasters (GMCR)reported earnings that beat analysts' expectations and announced plans to extend its partnership with Starbucks (SBUX, Fortune 500). Green Mountain surged 13% in extended trading.

Electric car maker Tesla (TSLA) reported a quarterly profit and sales that exceeded forecasts. Shares popped more than 10% in after-hours trading.

Groupon (GRPN) reported another quarterly loss, although the daily deals website said revenue growth accelerated. Shares soared after hours.

News Corp (NWS) said sales rose in the first quarter and reported earnings that met analysts' expectations.

Monster Beverage (MNST) reported earnings that were below analysts' expectations, despite a rise in sales. The company, which has been criticized for marketing highly caffeinated drinks to children, blamed the drop in earnings on legal costs and other short-term factors.

* Fear & Greed Index gets extremely greedy

European markets closed higher, with the Euronext 100 index displaying some solid support.

Asian markets also finished the day with gains. The Nikkei added 0.7%, the Hang Seng increased 0.8% and the Shanghai Composite rose 0.5%.

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Market Update

4:15 pm : The S&P 500 settled higher by 0.4% to register its fifth consecutive gain.

That streak appeared to be in jeopardy when stocks began the session on a lower note. However, the three-point slip at the open was enough to entice bargain hunters who sent the benchmark average to a fresh record high.

Cyclical sectors appeared weak during the opening minutes, but most economically-sensitive groups were able to rebound, and finish in the lead.

The materials space displayed strength from the start as industrial metals traded higher after China reported a wider-than-expected trade surplus. Gains in copper were notable as the red metal advanced 1.7% to 3.361 per pound.

Comments from Rio Tinto (RIO 48.55, +1.09) also boosted the materials sector after the company said it expects iron ore demand to remain intact. Elsewhere, steelmakers displayed strength across the board as the Market Vectors Steel ETF (SLX 44.05, +0.84) settled higher by 1.9%.

Technology stocks also finished among the leaders as the sector displayed broad strength to follow yesterday's underperformance. Major components Apple (AAPL 463.84, +5.18), Google (GOOG 873.63, +16.40), and IBM (IBM 204.82, +2.14) ended with gains between 1.1% and 1.9% while high-beta chipmakers ended higher as well. The PHLX Semiconductor Index rose 1.3%.

One of the top performers of the past week, the Dow Jones Transportation Average, began the session with a loss of 0.9% as CH Robinson (CHRW 57.26, -4.30) weighed on the bellwether complex after reporting disappointing earnings. However, the remaining components of the 20-stock index picked up CH Robinson's losses as the index settled higher by 0.2%.

While most cyclical groups finished in the lead, energy and consumer discretionary sectors trailed behind the broader market.

The energy space added just 0.2% even as crude oil climbed 1.0% to $96.54.

Elsewhere, the discretionary sector lagged as homebuilders and retailers weighed. In addition, media stocks were mixed after Dow component Walt Disney (DIS 65.99, -0.08) reported a bottom-line beat. Another Dow component, McDonald's (MCD 100.95, -1.34), also pressured the sector after its comparable sales decreased 0.6% in April.

The CBOE Volatility Index (VIX 12.79, -0.04) ended with a slim loss, but VIX futures settled higher suggesting some downside protection was in demand.

Volume was slightly above average as 730 million shares changed hands on the floor of the New York Stock Exchange.

Today's economic data was limited to the weekly MBA Mortgage Index, which rose 7.0% to follow last week's increase of 1.8%.

Tomorrow, weekly initial claims and March wholesale inventories will be reported at 8:30 ET and 10:00 ET, respectively. In earnings of note, Cooper Tire (CTB 26.34, +0.17) and Dean Foods (DF 19.00, +0.37) will report their results prior to the opening bell.

The U.S. Treasury will auction $16 billion in 30-yr bonds.DJ30 +48.92 NASDAQ +16.64 SP500 +6.73 NASDAQ Adv/Vol/Dec 1428/1.67 bln/1027 NYSE Adv/Vol/Dec 1975/730.0 mln/1026

3:30 pm :

June crude oil rose today as better-than-anticipated inventory data and a weaker dollar index boosted prices. The Department of Energy reported that for the week ending May 3, crude oil inventories had a build of 0.23 mln barrels while consensus called for a build of 1.9 mln barrels. Prices climbed as high as $96.74 per barrel and settled with a 1.0% gain at $96.60 per barrel.
June natural gas spent its entire floor session in positive territory. It dipped to a session low of $3.94 per MMBtu in morning action but climbed to a session high of $3.99 per MMBtu as it headed into the close. Natural gas eventually settled with a 1.5% gain at $3.98 per MMBtu.
June gold traded higher today on support from the weaker dollar index. The yellow metal spent most of pit trade trading in a consolidative pattern near the $1465 per ounce level and popped to a session high of $1475.80 per ounce heading into the close. It settled at $1473.60 per ounce, booking a gain of 1.7%.
July silver pulled-back from its session high of $24.05 per ounce set at floor trade open and dipped into negative territory. It fell as low as $23.64 per ounce but buyers stepped in and took prices back above the break-even level. A slight rally into the close helped silver settle 0.5% higher at $23.92 per ounce.

DJ30 +37.37 NASDAQ +14.49 SP500 +5.73 NASDAQ Adv/Vol/Dec 1339/1431.9 mln/1192 NYSE Adv/Vol/Dec 1728/478 mln/1250

3:00 pm : Recent action saw the major averages slip from their highs. While the three key indices remain in positive territory, the Russell 2000 has extended its losses. The small cap index is off by 0.3%.

Looking at currencies, morning action saw the Dollar Index fall to session lows in the 81.80 area before regaining a portion of those losses. Currently, the index is off by 0.5% as the dollar weakness benefits the euro and the British pound.

EURUSD is higher by 80 pips at 1.3160 as trade tests the 100-day moving average. The single currency climbed to nearly 1.3200 early in U.S. trade after European Central Bank member Asmussen suggested the central bank could conduct asset backed purchases, but was thwarted at the key resistance level as sellers came out in defense.

Elsewhere, GBPUSD adds 65 pips at 1.5545 as trade has managed to erase all of yesterday's losses. Action continues to hold on the 100-day moving average as traders await tomorrow's Bank of England rate decision. Markets are expecting no change to central bank's asset purchase program (GBP375 billion) and benchmark rate (0.50%).DJ30 +12.14 NASDAQ +6.66 SP500 +2.14 NASDAQ Adv/Vol/Dec 1176/1.25 bln/1273 NYSE Adv/Vol/Dec 1550/427.8 mln/1402

2:30 pm : Quiet trade continues with the S&P 500 up 0.2%. Although the three major averages continue to register gains, the small cap Russell 2000 has dipped into the red.

While financials, industrials, technology and materials trade with solid gains, energy and consumer discretionary sectors trail behind their cyclical counterparts. The energy space is flat despite the recent gains in crude oil. The energy component is higher by 1.0% at $96.60.

Elsewhere, discretionary stocks are being pressured by homebuilders and retailers. The SPDR S&P Homebuilders ETF (XHB 31.25, -0.03) is off by 0.1% while the SPDR S&P Retail ETF (XRT 75.24, -0.01) trades flat.DJ30 +22.18 NASDAQ +11.45 SP500 +3.82 NASDAQ Adv/Vol/Dec 1272/1.15 bln/1156 NYSE Adv/Vol/Dec 1651/393.1 mln/1300

2:00 pm : The S&P 500 has slipped from its best level of the day but the index continues to trade higher by 0.2%. The Nasdaq (+0.4%) has been able to outperform the benchmark index as technology stocks continue to show strength.

Today, the tech sector is among the leaders as Apple (AAPL 464.05, +5.39) and Google (GOOG 869.22, +11.99) trade with respective gains of 1.1% and 1.3%. Chipmakers can also be found among the outperformers as the PHLX Semiconductor Index trades higher by 1.1%.DJ30 +13.31 NASDAQ +12.14 SP500 +3.56 NASDAQ Adv/Vol/Dec 1287/1.06 bln/1139 NYSE Adv/Vol/Dec 1661/363.5 mln/1293

1:30 pm : Equities continue to hover near their highs with the S&P 500 up 0.3%. Seven of ten sectors trade with gains while defensively-geared consumer staples and utilities register losses.

Of the six cyclical groups, the energy sector has surrendered its intraday gains even as crude oil trades up 0.6% at $96.17. Elsewhere, the discretionary space lags as homebuilders continue to pressure the sector. The SPDR S&P Homebuilders ETF (XHB 31.25, -0.03) is off by 0.1%.DJ30 +20.92 NASDAQ +15.18 SP500 +4.77 NASDAQ Adv/Vol/Dec 1348/982.8 mln/1073 NYSE Adv/Vol/Dec 1764/332.5 mln/1195

1:05 pm : The S&P 500 is higher by 0.3% as the index hovers near its best levels of the day.

Today's session began on a lower note after the S&P 500 notched yet another record high while the Dow marked its first-ever close above 15,000.

Cyclical sectors displayed early weakness, but a handful of growth-oriented groups pushed stocks higher shortly after the open. The materials space has been a notable outperformer as industrial metals trade higher after China reported a better-than-expected trade surplus, which saw an above-consensus improvement in imports and exports.

Copper has been a standout among the metals as it trades higher by 2.1% at $3.372 per pound.

Steelmakers have also shown strength after Rio Tinto (RIO 48.63, +1.17) said it expects iron ore demand to remain intact. The broader Market Vectors Steel ETF (SLX 44.16, +0.95) is up 2.2%.

Financials have also contributed to broad market gains as large components trade higher. Citigroup (C 49.13, +1.02) is the top performer among the majors while the SPDR Financials Select Sector ETF (XLF 19.30, +0.15) is higher by 0.8%.

The Dow Jones Transportation Average was pressured at the open after CH Robinson (CHRW 56.93, -4.63) reported disappointing earnings. Although CH Robinson remains near its lows, the Transpiration Average is higher by 0.2% after being down as much as 0.9% at the open.

The discretionary space has not been able to stage a reversal similar to other growth-sensitive sectors. Media stocks are mixed despite a bottom-line beat reported by Dow component Walt Disney (DIS 65.66, -0.41). In addition, homebuilders trade lower across the board. The SPDR S&P Homebuilders ETF (XHB 31.20, -0.09) is off by 0.3%.

Despite the gains in the major averages, the CBOE Volatility Index (VIX 12.89, +0.06) trades higher as well. This suggests downside protection has received a modest bid.

Steady selling across the Treasury complex has pushed the 10-yr yield lower by two basis points to 1.759%.

Today's economic data was limited to the weekly MBA Mortgage Index, which rose 7.0% to follow last week's increase of 1.8%.DJ30 +12.10 NASDAQ +13.28 SP500 +4.28 NASDAQ Adv/Vol/Dec 1345/897.5 mln/1057 NYSE Adv/Vol/Dec 1749/307.4 mln/1207

12:30 pm : The major averages continue to trade near their highs with the S&P 500 up 0.3%. The Dow, however, trails behind the benchmark average with a slim gain of 0.1%.

The underperformance of the Dow is due to relative weakness of three components as Coca-Cola (KO 42.25, -0.45), McDonald's (MCD 101.30, -0.99), and Walt Disney (DIS 65.40, -0.67) trade with losses of at least 1.0%.DJ30 +8.37 NASDAQ +11.96 SP500 +3.53 NASDAQ Adv/Vol/Dec 1296/812.9 mln/1096 NYSE Adv/Vol/Dec 1687/280.7 mln/1238

12:00 pm : The S&P 500 has spent the past 45 minutes holding near its best level of the day. Similarly, the Dow and Nasdaq are on their highs as well.

Although the major averages haven't moved much in recent action, the Dow Jones Transportation Average has been able to climb out of the red. The bellwether complex trades higher by 0.2% after being down as much as 0.9% in early action.

Also of note, the CBOE Volatility Index (VIX 12.86, +0.03) has joined VIX futures in positive territory. This suggests downside protection is receiving some interest despite stocks trading higher.DJ30 +15.39 NASDAQ +13.75 SP500 +5.01 NASDAQ Adv/Vol/Dec 1343/722.7 mln/1032 NYSE Adv/Vol/Dec 1730/250.5 mln/1157

11:35 am : The S&P 500 is higher by 0.3% as the index continues to hover near its best level of the day.

All six cyclical sectors have climbed into the black after earlier underperformance. However, discretionary shares, energy, and the Dow Jones Transportation Average continue to lag.

Although the broader market trades in positive territory, futures on the CBOE Volatility Index (VIX 12.79, -0.04) trade higher as well. While spot VIX is slightly lower on the session, May and June contracts have registered gains with May contracts up 0.9%.

Elsewhere, steady selling across the Treasury complex has pushed the 10-yr yield down two basis points to 1.762%.DJ30 +9.97 NASDAQ +12.07 SP500 +4.14 NASDAQ Adv/Vol/Dec 1290/631.3 mln/1060 NYSE Adv/Vol/Dec 1663/222.5 mln/1192

11:00 am : The S&P 500 trades higher by 0.2% after climbing off its opening lows. However, the Dow's advance has been more tentative as the index trades flat.

The Dow Jones Industrial Average trails behind the broader market as Walt Disney (DIS 64.85, -1.22) weighs despite beating on earnings.

Walt Disney is not the only underperformer among discretionary shares as the sector trades flat. Homebuilders have shown weakness across the board with the SPDR S&P Homebuilders ETF (XHB 31.08, -0.20) off by 0.6%.DJ30 +1.79 NASDAQ +11.67 SP500 +3.28 NASDAQ Adv/Vol/Dec 1217/500.8 mln/1071 NYSE Adv/Vol/Dec 1545/182.7 mln/1266

10:35 am : Commodities are trading higher this morning, largely on weakness in the dollar index. Crude oil, copper and natural gas extended gains in recent action, all hitting new session highs.

About 30 minutes ahead of today's weekly crude inventory data, June crude hit a new session high of $96.55/barrel. Following the data, Natural gas futures rallied this morning and is now +0.6% at $3.94/MMBtu.

Precious metals are mixed with July silver -0.2% at $23.75/oz and June gold +1.0% at $1463.50. July copper is +2.5% at $3.39/oz.DJ30 -1.22 NASDAQ +9.58 SP500 +2.49 NASDAQ Adv/Vol/Dec 1241/417.4 mln/1283 NYSE Adv/Vol/Dec 1386/144 mln/1381

10:00 am : Equities have climbed off their lows and the S&P 500 is now flat.

Cyclical sectors have turned positive and the materials sector is the leader among growth-oriented groups. This comes after China reported a better-than-expected trade surplus. Similarly, the energy sector is little changed as crude oil trades higher by 0.7% at $96.30.

On the upside, the health care sector is the top performer as the SPDR Health Care Select Sector ETF (XLV 47.62, +0.11) adds 0.2%.DJ30 -11.68 NASDAQ +3.76 SP500 +0.70 NASDAQ Adv/Vol/Dec 1025/227.4 mln/1133 NYSE Adv/Vol/Dec 1410/99.1 mln/1289

09:45 am : The major averages trade near their lows with the S&P 500 off by 0.1%.

Cyclical sectors are among the early laggards with financials and technology leading to the downside. Also of note, the Dow Jones Transportation Aver is down 0.8% as truckers weigh after CH Robinson (CHRW 57.04, -4.52) reported a bottom-line miss.

Elsewhere, Dow component Walt Disney (DIS 65.38, -0.69) is off by 1.1% despite beating earnings estimates by two cents.DJ30 -26.96 NASDAQ -4.05 SP500 -1.88 NASDAQ Adv/Vol/Dec 855/124.7 mln/1186 NYSE Adv/Vol/Dec 1208/68.9 mln/1422

09:15 am : [BRIEFING.COM] S&P futures vs fair value: -3.00. Nasdaq futures vs fair value: -1.70. With 15 minutes to go before the start of today's cash session, equity futures have slipped to their pre-market lows. The S&P 500 futures are off by 0.2%.

There was no specific news to account for the decline to lows, but the move coincided with the weakening of the dollar. The Dollar Index is off by 0.4% as the recent softness strengthened the euro as well as the Japanese yen. The euro is higher by 87 pips at 1.3161 while USDJPY is off by 20 pips to 98.62.

Among earnings of note, Dow component Walt Disney (DIS 65.95, -0.12) is off by 0.2% despite beating on the bottom line. Elsewhere, CH Robinson (CHRW 57.40, -4.16) is down 6.8% after missing on earnings.

This week has been very quiet in terms of economic data reporting. Today, the weekly MBA Mortgage Index rose 7.0% to follow last week's increase of 1.8%.

The U.S. Treasury will auction $24 billion in 10-yr notes.

08:57 am : [BRIEFING.COM] S&P futures vs fair value: -3.30. Nasdaq futures vs fair value: -2.50. Equity futures have slipped from their pre-market highs as the S&P 500 futures now trade with a loss of 0.2%. With little news of note, investors are reacting to corporate earnings.

Dow component Walt Disney (DIS 66.05, -0.02) is little changed after beating on earnings. Elsewhere, Whole Foods (WFM 100.52, +7.72) is higher by 8.3% after the company reported a bottom-line beat. On the downside, CH Robinson (CHRW 57.32, -4.24) is down 6.9% after missing on earnings.

Today's economic data was limited to the weekly MBA Mortgage Index, which rose 7.0% to follow last week's increase of 1.8%.

08:31 am : [BRIEFING.COM] S&P futures vs fair value: -1.50. Nasdaq futures vs fair value: -0.30.

U.S. equity futures have slipped from their highs. The S&P 500 futures are now lower by 0.1%.

It was a sea of green across Asia as all of the major bourses, aside from Malaysia's FTSE Kuala Lumpur Composite (-0.2%), ended in the green. The gains came after China saw its trade surplus widen to $18.2 billion ($15.1 billion expected, -$0.82 billion previous) as exports jumped 14.7% and imports surged 16.8%. As usual, the number is being met with skepticism. Data from the region was limited to Malaysia's trade surplus narrowing to MYR5.08 billion (MYR8.40 billion expected, MYR8.20 billion previous).

In Japan, the Nikkei rose 0.7% as trade climbed to a fresh five-year high. Names with close ties to China outperformed as Komatsu and Fanuc tacked on 4.4% and 3.6% respectively. Elsewhere, Toyota Motor added 1.4% ahead of its earnings report, which was due out after the close.
Hong Kong's Hang Seng gained 0.9% to end at its best level in two and a half months. HSBC led the way with a 1.7% advance after reporting profit double when compared to this time last year. On the downside, European retailer Esprit sank 4.8% after issuing a profit warning.
In China, the Shanghai Composite settled higher by 0.5% as financials and property names saw solid gains. China Construction Bank and Vanke both gained close to 1.5% to lead their respective sectors higher.

European indices trade higher across the board amid a quiet session. Regional economic data was limited to just two notable releases as Germany's industrial production rose 1.2% month-over-month to follow the prior month's uptick of 0.6% (-0.1% consensus) while the United Kingdom's Halifax House Price Index climbed 1.1% month-over-month (+0.2% consensus).

Looking at news, the cabinet of German Chancellor Angela Merkel has approved plans to put European banks under the supervision of the European Central Bank. Also of note, ECB Executive Board member Joerg Asmussen said the Cypriot banking sector has not been stabilized yet and that short term risks remain elevated.

The United Kingdom's FTSE is higher by 0.2% with the index trading at its highest level in five years. Cyclical names are among the leaders as Evraz and Melrose Industries trade with respective gains of 5.5% and 3.5%.
Germany's DAX adds 0.6% with defensive names in the lead. Henkel is higher by 5.6% and Deutsche Telekom trades with a gain of 3.7% after both reported upbeat earnings. On the downside, Commerzbank is lower by 5.4%.
In France, the CAC is up 0.8% as industrials outperform. Bouygues, Lafarge, and Legrand are all up between 1.3% and 3.8%.

08:01 am : [BRIEFING.COM] S&P futures vs fair value: -0.20. Nasdaq futures vs fair value: +2.20.

The S&P 500 futures trade flat amid quiet overseas action.

Looking at overnight developments:

Asian markets ended on a higher note as China's Shanghai Composite added 0.5%, Japan's Nikkei rose 0.7%, and Hong Kong's Hang Seng climbed 0.9%.
In regional economic data:
China reported a trade surplus of $18.16 billion to follow the prior deficit of $880 million ($15.05 billion expected). The country saw an improvement in both imports and exports as its imports increased 16.8% while exports rose 14.7%.
In news:
Reserve Bank of New Zealand Governor Graeme Wheeler said the central bank has intervened in the foreign exchange market to limit the strength of its currency.
Moody's said the Chinese property market faces a stable outlook and sales growth should slow down.

European indices trade higher across the board. The United Kingdom's FTSE is rising 0.2%, Germany's DAX is higher by 0.6%, and France's CAC is up 0.8%.
Regional economic data was limited:
Germany's industrial production rose 1.2% month-over-month to follow the prior month's uptick of 0.6% (-0.1% consensus).
In the United Kingdom, the Halifax House Price Index climbed 1.1% month-over-month (+0.2% consensus).
Looking at news:
European Central Bank Executive Board member Joerg Asmussen said the Cypriot banking sector has not been stabilized yet and that short term risks remain elevated.
In Germany, the cabinet of Chancellor Angela Merkel has approved plans to put European banks under the supervision of the European Central Bank.

In U.S. corporate news:

CH Robinson (CHRW 61.21, -0.35) is off by 0.6% after missing on earnings and reporting revenue in-line with the Capital IQ consensus estimate.
Marathon Oil (MRO 34.51, +0.18) is higher by 0.5% despite missing on top and bottom lines.
Symantec (SYMC 23.90, -1.20) is lower by 4.8% despite its upbeat report which saw the company beat on earnings and revenue. In addition, the software company initiated a cash dividend of $0.15 per share. This equates to a 2.5% dividend yield.
Walt Disney (DIS 65.80, -0.27) is off by 0.4% after the company reported an earnings beat.
Whole Foods (WFM 100.25, +7.45) is firmer by 8.0% after beating bottom-line estimates.

The weekly MBA Mortgage Index rose 7.0% to follow last week's increase of 1.8%.

The U.S. Treasury will auction $24 billion in 10-yr notes.

07:01 am : [BRIEFING.COM] S&P futures vs fair value: +0.50. Nasdaq futures vs fair value: +2.50.

07:01 am : Nikkei...14285.69...+105.50...+0.70%. Hang Seng...23244.35...+197.30...+0.90%.

07:01 am : FTSE...6576..34...+19.00...+0.30%. DAX...8237.57...+55.80...+0.70%.

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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