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 Post subject: May 21st Tuesday Trade Results - Profit $3050
PostPosted: Tue May 21, 2013 4:20 pm 
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Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
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)
http://twitter.com/wrbtrader (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 @ $250.00 dollars or +2.50 points, Light Crude Oil CL ($CL_F) futures @ $660.00 dollars or +0.66 points, Gold GC ($GC_F) futures @ $2140.00 dollars or +21.40 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 @ $3050.00 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 of my 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 to its completion...all archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=117&t=1511

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. Simply, my trade method is applicable for position trading, swing trading and day trading.

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

-----------------------------

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.

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Market Update

4:10 pm : Stocks ended modestly higher as the S&P 500 climbed 0.2%, and the Dow added 0.4% to register its 19th consecutive Tuesday of gains.

The major averages saw little change during morning action, but afternoon buying interest helped lift the indices to session highs. Most cyclical sectors (with the exception of materials and technology) finished among the leaders, but the defensively-geared health care sector settled atop the leaderboard as biotechnology outperformed.

The iShares Nasdaq Biotechnology ETF (IBB 181.54, +1.78) advanced 1.0%, and prevented the Nasdaq from falling too far behind the other two indices as technology displayed relative weakness.

The technology sector spent the bulk of the day in negative territory as major components failed to partake in the broader market advance. Apple (AAPL 439.66, -3.27) shed 0.7% after the company faced Senate Subcommittee questioning regarding its tax practices while Microsoft (MSFT 34.85, -0.23) lost 0.7% after unveiling its newest gaming console.

Although the majority of the first quarter reporting season is in the rearview mirror, retail earnings continued to trickle in. The SPDR S&P Retail ETF (XRT 78.68, +0.57) settled higher by 0.7% after Saks (SKS 13.67, +1.39) and TJX (TJX 51.73, +0.38) exceeded their top-line estimates while AutoZone (AZO 427.84, +18.79) and Home Depot (HD 78.71, +1.95) beat on earnings and revenue.

Dow component Home Depot climbed to a new record high following its earnings beat, but the report did not help homebuilders as the SPDR S&P Homebuilders ETF (XHB 32.06, -0.07) slipped 0.2%.

While most retailers outperformed, those specializing in electronics lagged. Best Buy (BBY 25.64, -1.17) and HHGregg (HGG 13.75, -1.86) ended in the red after both reported below-consensus revenues.

Elsewhere, the financial sector displayed strength from the start. The sector ended with a gain of 0.3% while JPMorgan Chase (JPM 53.02, +0.73) rose 1.4% after shareholders voted overwhelmingly against separating the roles of Chief Executive Officer and Chairman, meaning Jamie Dimon will retain both titles.

Despite the gains in the broader market, the CBOE Volatility Index (VIX 13.33, +0.31) settled in the black as well, suggesting protection received an intraday bid.

Today's volume was slightly below average as 687 million shares changed hands on the floor of the New York Stock Exchange.

After recent weeks produced fresh speculation surrounding the Federal Reserve's readiness to begin tapering its quantitative easing program, investors will look for more cues from Fed Chairman Ben Bernanke when he testifies before Congress at 10:00 ET tomorrow.

With regards to economic data, the weekly MBA Mortgage Index is set to be reported at 7:00 ET while existing home sales for April will be announced at 10:00 ET. The day will be topped off with the 14:00 ET release of Federal Reserve's minutes from its May 1 meeting.DJ30 +52.30 NASDAQ +5.69 SP500 +2.87 NASDAQ Adv/Vol/Dec 1297/1.72 bln/1155 NYSE Adv/Vol/Dec 1633/687.2 mln/1377

3:35 pm : Commodities ended the day mostly lower, with metals, corn, wheat, heating oil, RBOB gasoline all finishing lower.

Natural gas remained strong all session, rising as high as $4.21/MMBtu. At the end of today's, June natural gas ended $0.13 higher at $4.19/MMBtu. Crude oil was in the red for today's floor trading session, breaking below the $96 level (LoD is $95.72/barrel). June natural gas ended $0.13 higher at $4.19/MMBtu and June crude oil gained $0.07 to $96.10/barrel.

Precious metals almost reversed back to the unchanged line, but ultimately ended the day with modest losses. June gold finished $5.90 lower at $1378.40/oz and July silver ended $0.14 lower at $22.47/oz.DJ30 +68.20 NASDAQ +10.43 SP500 +4.71 NASDAQ Adv/Vol/Dec 1416/1525.9 mln/1130 NYSE Adv/Vol/Dec 1675/452 mln/1327

3:00 pm : The S&P 500 trades higher by 0.4% as today's session enters its final hour.

In the foreign exchange market, the Dollar Index is higher by 0.2% after early buying produced a test of the 84.20 area. However, trade slipped back below the 84.00 mark when St. Louis Fed President James Bullard suggested the Fed could take rates negative, but a lack of support prevents that from taking place at this time. The Index briefly slipped into negative territory, touching 83.65 before buyers reemerged.

The bulk of today's dollar strength has come against the British pound and the Japanese yen.

The pound is lower by 105 pips at 1.5150 against the dollar as action remains on track for its lowest close in one and a half months. Sellers have been in control since this morning's data out of the United Kingdom showed a letup in pricing pressures, causing many to believe the Bank of England will expand its asset purchase program once the transition of power at the central bank takes place in June.

Elsewhere, USDJPY is higher by 30 pips at 102.55 as trade reverses roughly half of yesterday's losses. The pair found support near 102.00 early in the session after Japanese Economy Minister Akira Amari backtracked from yesterday's statement. Mr. Amari suggested, "I have previously said that the overly strong yen is in the process of being corrected. I will not say it has been corrected, or where it will finish."DJ30 +76.34 NASDAQ +9.37 SP500 +5.80 NASDAQ Adv/Vol/Dec 1327/1.32 bln/1114 NYSE Adv/Vol/Dec 1676/398.3 mln/1312

2:30 pm : The major averages continue to drift near their recent levels with the S&P 500 up 0.4%.

With most first-quarter earnings in the books, some retailers and tech companies have yet to announce their results. Following today's close, Intuit (INTU 58.36, -1.29) and NetApp (NTAP 36.36, -0.83) will be in focus while retailers American Eagle (AEO 20.26, +0.05), Lowe's (LOW 42.50, +0.12), Staples (SPLS 14.89, +0.22), and Target (TGT 71.51, +0.86) are scheduled to report before tomorrow's opening bell. In addition, homebuilder Toll Brothers (TOL 36.18, -0.43) will also report before the open.DJ30 +85.55 NASDAQ +12.74 SP500 +7.43 NASDAQ Adv/Vol/Dec 1364/1.22 bln/1063 NYSE Adv/Vol/Dec 1729/367.5 mln/1248

2:00 pm : The S&P 500 has spent the past 30 minutes near the 1672 level as quiet afternoon action continues.

There was no economic data reported yesterday or today, but that will change during the second half of the week. Tomorrow, Federal Reserve Chairman Ben Bernanke will testify before Congress in a highly-anticipated event, which is likely to receive added attention as investors look for changes to the Fed's policy course.

In addition, April existing home sales will be reported tomorrow while new home sales will be announced on Thursday. The week will be rounded out by Friday's release of April durable orders.DJ30 +72.78 NASDAQ +11.43 SP500 +6.03 NASDAQ Adv/Vol/Dec 1342/1.13 bln/1088 NYSE Adv/Vol/Dec 1692/341.4 mln/1282

1:30 pm : The S&P 500 trades higher by 0.4% after climbing to a fresh session best. The recent gains occurred as the weakest sectors of the day returned into positive territory.

The defensively-oriented telecom space has been the lone exception as the sector continues to trade in the red. The high-yielding space trades lower by 0.6% as both AT&T (T 36.96, -0.26) and Verizon Communications (VZ 52.32, -0.42) register losses.

Also of note, the recent gains in the stock market have been mirrored by a rise in Treasuries. As a result, the 10-yr yield is down four basis points at 1.932%.DJ30 +70.38 NASDAQ +12.12 SP500 +6.05 NASDAQ Adv/Vol/Dec 1342/1.04 bln/1066 NYSE Adv/Vol/Dec 1699/316.6 mln/1249

1:00 pm : At midday, the three major averages trade with gains between 0.2% and 0.4%.

The first half of today's session has been quiet with the S&P 500 confined to a ten point range. The financial sector displayed early strength after reports indicated shareholders of JPMorgan Chase (JPM 53.30, +1.01) have voted against separating the roles of Chief Executive Officer and Chairman, meaning Jamie Dimon will retain both titles. JPMorgan Chase is the top performer among the majors while the financial sector trades higher by 0.4%.

Elsewhere, the discretionary space has received some support from retailers. The SPDR S&P Retail ETF (XRT 78.59, +0.48) trades higher by 0.6% after Saks (SKS 13.32, +1.04) and TJX (TJX 51.49, +0.14) surpassed their top-line estimates while AutoZone (AZO 432.22, +23.17) and Home Depot (HD 79.00, +2.24) beat on earnings and revenue.

Home Depot's solid report sent the stock to a fresh record high, but had little effect on homebuilders. Major builders trade lower across the board and the SPDR S&P Homebuilders ETF (XHB 32.04, -0.09) is off by 0.3%.

While most cyclical groups trade in the black, the technology sector has yet to cross into positive territory. Several top components continue to lag, but Apple (AAPL 444.44, +1.51) trades higher by 0.4% as the company faces Senate Subcommittee questioning regarding its tax practices.

On the downside, three of four defensively-oriented groups trade lower with health care as the lone outperformer. The sector has received a boost from biotech as the iShares Nasdaq Biotechnology ETF (IBB 181.10, +1.34) trades with a gain of 0.7%.

The CBOE Volatility Index (VIX 13.04, +0.02) is little changed after being up as much as 3.2% in early action.DJ30 +50.84 NASDAQ +8.74 SP500 +4.17 NASDAQ Adv/Vol/Dec 1261/940.2 mln/1125 NYSE Adv/Vol/Dec 1587/288.5 mln/1345

12:30 pm : The S&P 500 is higher by 0.2% as the major averages continue climbing off their session lows. Similarly, most cyclical sectors have also risen off their worst levels while the tech spaces continues to trade with a slim loss.

Interestingly, recent buying across the Treasury complex has pressured the 10-yr yield to fresh session lows in the 1.943% area.DJ30 +54.89 NASDAQ +7.38 SP500 +4.35 NASDAQ Adv/Vol/Dec 1256/866.1 mln/1125 NYSE Adv/Vol/Dec 1571/266.4 mln/1358

12:00 pm : The three indices all trade with gains of no more than 0.2% with Dow maintaining its lead. Cyclical sectors have strengthened their gains in recent action as the financial sector sits atop the leaderboard. Although most growth-oriented groups trade in positive territory, technology and materials remain in the red.

Also of note, the Dow Jones Transportation Average is little changed after charging out of the gate.DJ30 +34.29 NASDAQ +2.09 SP500 +1.49 NASDAQ Adv/Vol/Dec 1156/771.9 mln/1214 NYSE Adv/Vol/Dec 1385/238.6 mln/1528

11:30 am : The major averages continue to trade near their respective unchanged lines as sector leadership remains mixed.

The discretionary sector is the leading cyclical group with Home Depot (HD 78.32, +1.55) trading higher by 2.0% after beating on earnings and revenue. However, the upbeat report has not provided a boost to homebuilders. The SPDR S&P Homebuilders ETF (XHB 31.75, -0.38) trades lower by 1.2%.

On the downside, defensively-oriented sectors are among the biggest laggards with only the health care space able to register gains. The CBOE Volatility Index (VIX 13.26, +0.24) hovers near its best level of the day after climbing steadily through the morning.

Elsewhere, Treasuries have recouped the bulk of their earlier losses with the 10-yr yield now little changed on the session.DJ30 +10.54 NASDAQ -3.85 SP500 -1.69 NASDAQ Adv/Vol/Dec 1085/671.8 mln/1257 NYSE Adv/Vol/Dec 1267/211.6 mln/1624

11:00 am : The major averages have slipped to their lows, but the losses have been limited. The Nasdaq trades lower by 0.2% while the Dow remains in the black.

The underperformance of the Nasdaq results from cautious trade in technology. The largest tech sector and Nasdaq component, Apple (AAPL 438.00, -4.93), trades lower by 1.1% as the company faces Senate Subcommittee questions regarding its tax practices.

Similarly, other large tech stocks trade in the red. In addition, high beta chipmakers can be found among the laggards as well. The PHLX Semiconductor Index is off by 0.1%.DJ30 +3.62 NASDAQ -5.10 SP500 -2.06 NASDAQ Adv/Vol/Dec 1028/554.1 mln/1247 NYSE Adv/Vol/Dec 1237/181.2 mln/1636

10:35 am : The dollar index has been in positive territory all day so far and just hit a new session high, which has been weighing on most commodities.

Gold and silver have been sliding lower off of the overnight high and put in new session lows not long ago. In current trade, June gold is -1.6% at $1361.30/oz, while July silver is -2.0% at $22.13.

Natural gas is rising again following the news Friday that the Dept. of Energy approved additional liquefied natural gas exports. June natural gas is still near its session high and is now +2.2% at $4.18/MMBtu. July crude oil has been in the red for most of the session and now just hit a new session low. July crude is now -00.7% at $96.25/barrel.DJ30 -1.63 NASDAQ -7.98 SP500 -2.54 NASDAQ Adv/Vol/Dec 1168/488.7 mln/1363 NYSE Adv/Vol/Dec 1232/152 mln/1609

10:00 am : The major indices have notched fresh highs with the Dow leading the way. The blue chip index trades higher by 0.4% as Home Depot (HD 78.84, +2.08) and JPMorgan Chase (JPM 53.39, +1.10) provide notable support. On the downside, Travelers (TRV 84.54, -1.01) is the biggest index underperformer, trading lower by 1.2%. Outside of Travelers, no other Dow component trades with a loss larger than 0.4%.

In the Treasury market, the 10-yr yield is higher by two basis points as it hovers near 1.995%.DJ30 +54.28 NASDAQ +6.08 SP500 +4.43 NASDAQ Adv/Vol/Dec 1224/234.4 mln/970 NYSE Adv/Vol/Dec 1581/98.3 mln/1188

09:45 am : The S&P 500 trades higher by 0.2% after equities began the session on a positive note. Seven of ten sectors have registered gains in early action with health care leading the way. In addition, cyclical financials, industrials, and discretionary sectors have outperformed in early action.

In the financial sector, JPMorgan Chase (JPM 53.06, +0.77) trades with a gain of 1.5% after the New York Times reported that a proposal to split Chief Executive Officer and Chairman duties at the bank fell through.

Also of note, the Dow has received some support from Home Depot (HD 78.47, +1.71) after the home improvement store beat on earnings and revenue.

There was no economic news of note released today.DJ30 +50.21 NASDAQ +3.10 SP500 +3.33 NASDAQ Adv/Vol/Dec 1162/133.1 mln/950 NYSE Adv/Vol/Dec 1570/72.2 mln/1108

09:16 am : [BRIEFING.COM] S&P futures vs fair value: +1.50. Nasdaq futures vs fair value: +3.70. After spending the bulk of pre-market action in the red, equity futures have climbed to fresh highs. The S&P 500 futures trade with a gain of 0.1%, pointing to a slightly higher start to the cash session.

With no economic news of note, today's flurry of quarterly earnings has received the majority of the early interest. Home Depot (HD 79.25, +2.49) is higher by 3.2% after beating on earnings and revenue.

Elsewhere, JPMorgan Chase (JPM 52.65, +0.36) trades with a gain of 0.7% after the New York Times reported that a proposal to split Chief Executive Officer and Chairman duties at the bank fell through.

09:01 am : [BRIEFING.COM] S&P futures vs fair value: +2.00. Nasdaq futures vs fair value: +3.50.

The S&P 500 futures trade with a slim gain of 0.1%.

Markets across Asia were mixed with the Nikkei (+0.1%) eking out a gain following comments from Economy Minister Akira Amari, who backtracked from yesterday's statement. Mr. Amari suggested, "I have previously said that the overly strong yen is in the process of being corrected. I will not say it has been corrected, or where it will finish." Elsewhere, Australia's ASX (-0.6%) pulled back after the latest Reserve Bank of Australia minutes showed the central bank cut rates to a record low 2.75% in an effort to relieve the pressure on businesses hurt by the strong Aussie dollar. Data out overnight showed Hong Kong's inflation rate jump to 4.0% year-over-year (3.6% expected, 3.6% previous) and Malaysia's unemployment rate climb to 3.3% (3.0% previous).

In Japan, the Nikkei added 0.1% to end at its best level since December 2007. Transportation stocks were strong as Japan Airlines rallied 1.7% and Isuzu Motors climbed 0.9%. Meanwhile, real estate shares were weak with Mitsui Fudosan and Sumitomo Realty & Development both giving up at least 3.0%.
Hong Kong's Hang Seng finished lower by 0.5% as financials lagged following Goldman Sachs' exit from ICBC. Goldman sold the remainder of its stake in the company, dropping shares 2.1%. The actions weighed on peers China Construction Bank and Bank of China, which both lost close to 1.5%.
In China, the Shanghai Composite rose 0.2% as shares ended higher for a fifth straight session. Technology names were strong with GoerTek surging the limit, 10%, after reporting a 66% jump in Q1 earnings. Elsewhere, telecom names were under pressure as ZTE gave up 1.9% following a tier 1 rate cut.

European indices trade generally lower with peripheral markets leading to the downside. The first half of the session has been mostly quiet after investors received just a handful of notable economic releases. Germany's PPI rose 0.1% year-over-year (0.2% expected, 0.4% previous) while the month-over-month reading slipped 0.2% (-0.1% forecast, -0.2% prior). In the United Kingdom, CPI came in at 2.4% year-over-year (2.6% expected, 2.8% prior) while core CPI was reported at 2.0% year-over-year (2.3% expected, 2.4% previous). In addition, House Price Index rose 2.7% (2.3% consensus, 1.9% prior). Also of note, input PPI declined 2.3% year-over-year (-1.1% forecast, +0.1% prior) while output PPI rose 1.1% year-over-year (1.5% expected, 1.9% prior).

With the European summit set to begin tomorrow, reports indicate German Chancellor Angela Merkel is considering implementing treaty changes to give more power to Brussels.

The United Kingdom's FTSE is higher by 0.1% as miners display strength. Polymetal International and Rio Tinto trade higher by 8.4% and 3.4%, respectively. On the downside, Carnival is off by 6.6% after issuing downside guidance.
Germany's DAX trades lower by 0.3% as financials lag. Commerzbank is down 4.3% and Deutsche Bank is off by 2.1% after receiving a JPMorgan Chase downgrade.
In France, the CAC is off by 0.2% with financials underperforming as well. BNP Paribas and Credit Agricole trade with respective losses of 2.8% and 1.7%.
Spain's IBEX is down 0.8% as most components trade in the red. Banco Bilbao Vizcaya Argentaria is off by 1.5%.

08:30 am : [BRIEFING.COM] S&P futures vs fair value: +0.30. Nasdaq futures vs fair value: +2.50. The S&P 500 futures hover near their unchanged line after climbing off pre-market lows. Equity futures have spent the overnight session in a four point range amid quiet overseas trade.

With no market-moving economic data at home or abroad, the pre-market sentiment has been shaped by quarterly earnings. Notably, Home Depot (HD 79.46, +2.70) is higher by 3.5% after beating on the top and bottom lines.

Elsewhere, Best Buy (BBY 26.40, -0.41) trades lower by 1.5% after disappointing revenue and cautious guidance overshadowed the retailer's above-consensus earnings.

07:58 am : [BRIEFING.COM] S&P futures vs fair value: -0.70. Nasdaq futures vs fair value: -1.00.

U.S. equity futures trade modestly lower amid cautious overseas trade. The S&P 500 futures are off by 0.1%.

Looking at overnight developments:

Asian markets ended on a mixed note. Japan's Nikkei added 0.1%, China's Shanghai Composite rose 0.2%, while Hong Kong's Hang Seng shed 0.6%.
In regional economic data:
Japan's All Industries Activity Index slipped 0.3% (-0.3% expected, +0.6% prior).
Hong Kong's CPI rose 4.0% year-over-year (3.6% expected, 3.6% previous).
Australia's Leading Index rose 0.1% to follow the prior increase of 0.3%.
New Zealand's credit card spending climbed 4.0% year-over-year (3.7% prior) while inflation expectations increased 2.1% (2.2% prior).
Looking at news:
Japan's Economic Minister Akira Amari followed up on his prior comments regarding the yen's weakness by saying he cannot determine when the correction ends.

European indices trade generally lower with peripheral markets leading to the downside. Germany's DAX is lower by 0.3%, France's CAC is down 0.4%, while the United Kingdom's FTSE trades with a gain of 0.1%. Elsewhere, Italy's MIB and Spain's IBEX are both down near 1.0%.
Looking at regional economic news:
Germany's PPI rose 0.1% year-over-year (0.2% expected, 0.4% previous) while the month-over-month reading slipped 0.2% (-0.1% forecast, -0.2% prior).
In the United Kingdom: CPI came in at 2.4% year-over-year (2.6% expected, 2.8% prior) while core CPI was reported at 2.0% year-over-year (2.3% expected, 2.4% previous). In addition, House Price Index rose 2.7% (2.3% consensus, 1.9% prior). Also of note, input PPI declined 2.3% year-over-year (-1.1% forecast, +0.1% prior) while output PPI rose 1.1% year-over-year (1.5% expected, 1.9% prior).
In news:
With the European summit set to begin tomorrow, reports indicate German Chancellor Angela Merkel is considering implementing treaty changes to give more power to Brussels.

In U.S. corporate news:

Autozone (AZO 413.87, +4.82) is higher by 1.2% after beating on earnings and missing revenue estimates.
Best Buy (BBY 26.32, -0.49) is off by 1.8% following its earnings beat and revenue miss.
Carnival (CCL 32.70, -2.62) is slumping 7.4% after the cruise line operator lowered its guidance.
HHGregg (HGG 14.00, -1.61) is down 10.0% after missing on revenue. In addition, the retailer issued full-year revenue guidance below consensus.
Urban Outfitters (URBN 43.40, -1.09) is down 2.5% after the company beat earnings expectations on below-consensus revenue.

There is no economic data of note scheduled to be reported today.

06:40 am : [BRIEFING.COM] S&P futures vs fair value: -1.00. Nasdaq futures vs fair value: -1.50.

06:40 am : Nikkei...15381.02...+20.20...+0.10%. Hang Seng...23366.37...-126.70...-0.50%.

06:40 am : FTSE...6764.76...+9.40...+0.10%. DAX...8433.39...-22.30...-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
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