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 Post subject: August 30th Friday Trade Results - Profit $2562.50
PostPosted: Sat Aug 31, 2013 11:05 am 
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Joined: Sat Jan 10, 2009 1:06 pm
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Location: Canada
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
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 @ $15000.00 dollars or +15.00 points, Emini ES ($ES_F) futures @ $1062.50 dollars or +21.25 points, Light Crude Oil CL ($CL_F) futures @ $0.00 dollars or +0.00 points, Gold GC ($GC_F) futures @ $0.00 dollars or +0.00 points and EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks. Total Profit @ $2562.50 dollars.

Russell 2000 Emini TF Futures: 1 tick or 0.10 = $10.00 dollars and there's more contract information @ The ICE
S&P 500 Emini ES Futures: 1 tick or 0.25 = $12.50 dollars and there's more contract information @ CMEGroup
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

In addition, all of my trades were posted real-time in the chat room. You can read today's 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=120&t=1591

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=216&t=1913

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Market Context Summaries

The below summaries by Bloomberg, CNNMoney, Reuters and Yahoo! Finance helps me to do a quick review of the fundamentals, FED/ECB/BOE/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.

Investors Say Good Riddance To August

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

NEW YORK (CNNMoney)
Is it September yet?

Investors said goodbye to a brutal August, the cruelest month for stocks during an otherwise sunny 2013.

The Dow Jones Industrial Average and the S&P 500 lost between 3% and 4.5% this month. But they are still up between 13% and 15% for the year.

The Nasdaq held up better in August, dropping only 1%. The tech-heavy index has gained nearly 19% year-to-date.

Speculation that the Federal Reserve may cut back on, or taper, its monthly bond purchases as soon as September has made investors nervous.

August has been painful outside of the U.S. too -- and particularly for emerging markets. India's Sensex and Mexico's Bolsa both lost nearly 4% in August. Brazil's Bovespa index moved up nearly 4% but trading has been extremely volatile. The Fed tapering talk has caused foreign investors to flee emerging markets.

Japan's Nikkei index and Britain's FTSE index are both down roughly 2% in August.

China has been a rare bright spot on the global landscape. The Shanghai Composite was up 5% in August, while the tech-heavy Shenzhen index (kind of like China's Nasdaq) rose nearly 6%.

All three U.S. stock indexes closed lower Friday and ended the week down nearly 2%.

Volume was been low all week, which is typical for late August. The U.S. markets will be closed Monday for Labor Day.

Investors kept a close eye on the Middle East. The threat of a U.S.-led military strike on Syria dominated the headlines earlier this week, pushing stocks lower and oil and gold higher.

Actions on Syria do not appear imminent, but investors are watching the situation closely. On Friday afternoon, President Obama said the U.S. is considering a wide range of possible options.

What's moving: Salesforce.com (CRM)shares shot up after the cloud-based software company reported better-than-expected quarterly sales and earnings Thursday afternoon.

Most StockTwits traders were happy to be on the right side of the Salesforce bet, i.e. not shorting the stock.

investorsmosaic: Very glad that my rule of never shorting $CRM is in effect in perpetuity. Despite it's insanely high valuation.

howardlindzon: congrats Salesforce Employees "@StockTwits: Big Breakout in $CRM this morning, leading all top-trending tickers. http://stks.co/fjPB $CRM

Killed by the cronut? Krispy Kreme (KKD) shares dove 15% after the doughnut maker missed earnings estimates and lowered its full-year guidance Thursday.

Still the stock has more than doubled in 2013. Some traders on StockTwits remain optimistic about Krispy Kreme.

SPEWHEFNER: $KKD will be fine. Earnings were not that bad. Blame analysts for setting higher than necessary expectations. I see this bouncing back.

nickndfl: $KKD I like the original glazed. Good stores in Daytona and Ft. Lauderdale. Just watching the stock go lean.

Shares of energy producer Apache (APA, Fortune 500) soared after it announced it was selling a 33% stake of its oil and gas holdings in Egypt to China's Sinopec (SHI) for $3.1 billion.

Traders on StockTwits liked everything about the deal.

ESCapAdv: $APA surprises analysts with impressive price in Egypt asset sale

teddyballgame: $APA finally doing the right thing and spreading some Egyptian risk to China. About time!

Image



4:25 pm : The major averages ended August on a lower note as the S&P 500 shed 0.3% while the Nasdaq fell 0.8%. Small caps endured a rough session with the Russell 2000 falling 1.6%.

With the Labor Day weekend ahead and the likelihood of military action in Syria also looming, participation was very limited before quarterly MSCI rebalancing added more than a 100 million shares to the final volume tally as 768 million shares changed hands on the NYSE floor.

Equities fell to their lows midway through the session when Secretary of State John Kerry commented on the Syrian situation, implying the U.S. will act alone if necessary. The S&P followed its quick slide to lows with a recovery to its prior levels, where it settled.

Eight of ten sectors ended in the red with influential cyclical groups weighing on the broader market. Financials, technology, industrials, and discretionary shares lost between 0.5% and 0.7% with the discretionary sector leading to the downside.

Nearly all discretionary components posted losses. Home builders settled on their lows as the iShares Dow Jones US Home Construction (ITB 20.56, -0.40) fell 1.9%. Retailers also slumped as the SPDR S&P Retail ETF (XRT 77.88, -0.59) lost 0.8%. Big Lots (BIG 35.42, +0.78) bucked the trend among retailers, climbing 2.3% after reporting a bottom-line beat.

Elsewhere, the industrial sector succumbed to the pressure exerted by transportation companies as the Dow Jones Transportation Average fell 1.1%.

On the upside, consumer staples added 0.3% and the weakest sector of the month, utilities, tacked on a slim gain of less than 0.1%.

While buying interest was somewhat scarce, the CBOE Volatility Index (VIX 16.95, +0.14) rose 0.8% as participants demanded some downside protection. The near-term volatility measure ended August at its highest level since early July after starting the month near its 2013 lows.

Treasuries spent the session within a narrow range and the benchmark 10-yr yield slipped one basis points to 2.75%.

Reviewing today's economic data, personal income increased 0.1% in July, down from a 0.3% increase in June and exactly what the Briefing.com consensus expected. Employee compensation fell 0.2% as wages and salaries declined by 0.3%. That pullback was in-line with the July employment report, which showed aggregate earnings down 0.3% in July. The drop in compensation was offset by a 0.7% increase in receipts on assets, which was primarily driven by equity gains.

Spending levels were weak. Consumption grew 0.1% in July after increasing an upwardly revised 0.6% (from 0.5%) in June. The consensus expected personal spending to increase 0.3%.

The Chicago PMI increased to 53.0 in August from 51.6 in July. That was exactly what the Briefing.com consensus expected. Production levels weakened slightly as the index fell from 53.6 in July to 53.0 in August. The drop in production, however, was not related to a pullback in orders. New orders increased in August to 57.2, which is the highest level since May. Order backlogs remained in contraction for a third consecutive month, but improved from 42.9 in July to 46.5 in August.

Lastly, consumer sentiment was revised up to 82.1 in the final reading of the August University of Michigan Consumer Sentiment Index from 80.0 in the preliminary reading. The upward revision still leaves sentiment below the 85.1 reading in July. The Briefing.com consensus expected the Consumer Sentiment Index to remain at 80.0.

Week in Review: Concerns Surrounding Syria Resonate With Markets

On Monday, equities ended on their lows as the S&P 500 shed 0.4% while the Nasdaq settled flat. The major averages held modest gains into the final hour of the session when comments from Secretary of State John Kerry regarding the situation in Syria contributed to broad-based selling. Mr. Kerry said additional information about the recent chemical attack is being compiled and will be made public. The comments raised the expectations for a military operation, a concern participants grappled with throughout the week.

Tuesday saw the major averages settled on their lows after broad-based selling persisted throughout the session. Sellers were in control, reacting to the increased likelihood of U.S. military involvement in Syria. In addition, investors exhibited caution amid news indicating the debt ceiling will be reached in mid-October and that Congress has yet to begin budget negotiations ahead of the new fiscal year, which begins October 1. The S&P 500 fell 1.6% to end below its 100-day moving average for just the second time this year. Small caps endured even more selling as the Russell 2000 lost 2.4%. The Dow Jones Transportation Average fell 2.6% as airlines displayed significant weakness. Delta Air Lines (DAL 19.73, +0.09) and United Continental (UAL 28.46, -0.04) tumbled 5.7% and 7.2%, respectively.

Wednesday's session ended with the S&P 500 adding 0.3% to follow the Tuesday slide. Although the benchmark index advanced, it was unable to retake its 100-day moving average. Eight of ten sectors finished in positive territory with energy leading the way. The sector displayed significant strength, climbing 1.8%, after outperforming in the previous session. On a related note, crude oil rose past $109.40 per barrel to push its quarter-to-date gain to almost 12.0% amid increased tensions in the Middle East.

On Thursday, the S&P 500 added 0.2% as eight of ten sectors posted gains. The session kicked off on a lower note, but still managed to finish in positive territory despite an afternoon stumble. Prior to the open, investors received the news that second quarter GDP was revised up to 2.5% from 1.7%. The Briefing.com consensus expected the reading to be revised to 2.1%. Real final sales were revised up to 1.9% from 1.3%. Overall, the upward revision to GDP growth did not suggest that the underlying currents of weak growth are ending. Almost the entire upward revision came from a stronger-than-originally reported trade deficit, which is likely to reverse in the third quarter. That means the increase in GDP pulled potential growth from the third quarter into the second and was not the result of a strengthening economic situation. Following the report, equity futures and Treasuries fell to their lows while the Dollar Index jumped to its high in a reaction consistent with increased tapering expectations. As the session dragged on, stocks displayed intraday strength, but slipped into the close while Treasuries erased their losses. The benchmark 10-yr yield slipped three basis points to 2.75%. For its part, the Dollar Index held its gains throughout the session, ending near 82.00.DJ30 -30.64 NASDAQ -30.43 SP500 -5.20 NASDAQ Adv/Vol/Dec 600/1.24 bln/1903 NYSE Adv/Vol/Dec 874/768.2 mln/2111

3:30 pm : A stronger dollar index and further developments on possible military action against Syria put pressure on crude oil and precious metals today. Reports indicated that U.K. lawmakers have rejected a plan for Syrian action, while Secretary of State John Kerry discussed "clear and compelling" evidence that Syria used chemical weapons on its citizens.

Oct crude oil extended yesterday's losses as it pulled back from its session high of $108.75 per barrel and exhibited volatility as Secretary of State John Kerry spoke about the situation in Syria. The energy component dipped as low as $106.92 per barrel and settled with a 0.6% loss at $107.78 per barrel. Despite today's decline, crude oil gained 1.3% for the week.
Dec gold fell back below $1400.00 per ounce on speculation that the Fed will soon taper stimulus measures. The yellow metal dipped to a session low of $1391.80 per ounce and settled 1.2% lower at $1395.90 per ounce, just 10 cents above last Friday's closing price. Dec silver also chopped around in negative territory as it pulled back from its session high of $23.96 per ounce. It settled 2.6% lower at $23.50 per ounce, booking a loss of 1.2% for the week.
Oct natural gas oscillated between positive and negative territory today. It brushed a session high of $3.64 per MMBtu in early morning pit trade and dipped to a session low of $3.57 per MMBtu. It eventually settled 1.1% lower at $3.58 per MMBtu, booking a gain of 1.7% for the week.

DJ30 -20.89 NASDAQ -25.45 SP500 -3.48 NASDAQ Adv/Vol/Dec 623/911.7 mln/1868 NYSE Adv/Vol/Dec 881/357.3 mln/2082

3:05 pm : Equities continue to hold their levels as today's session enters its final hour. Prior to the open, we were expecting below-average volume and, so far, we have not been disappointed. Only 325 million shares have changed hands on the floor of the New York Stock Exchange with an hour left to go.

The foreign exchange market has also experienced a bit of a liquidity outage that has kept major currency pairs inside narrow ranges. The Dollar Index sports a slim gain of 0.2% with the greenback registering most notable strength against the euro. The Dollar Index has been range bound through most of August, but at its current level (82.14), the Index is on pace to register a close outside of the August range.DJ30 -26.61 NASDAQ -26.87 SP500 -4.21 NASDAQ Adv/Vol/Dec 600/837.8 mln/1882 NYSE Adv/Vol/Dec 845/325.6 mln/2105

2:35 pm : The major averages continue to hold their recent levels with the S&P 500 lower by 0.4%. While the S&P 500 has spent the past three hours within a four-point range, the CBOE Volatility Index (VIX 17.53, +0.72) has been climbing steadily.

The near-term volatility measure is higher by 4.7% as it hovers at its best level since June 28. Although the VIX has spent most of 2013 near multi-year lows, it has climbed steadily throughout this month. Currently, the VIX is up 48% from its August 2 lowsDJ30 -38.92 NASDAQ -27.72 SP500 -5.55 NASDAQ Adv/Vol/Dec 589/774.2 mln/1877 NYSE Adv/Vol/Dec 819/299.1 mln/2130

2:00 pm : The Dow and S&P 500 continue to hold modest losses of 0.2% while the Nasdaq (-0.7%) and Russell 2000 (-1.2%) underperform.

At this point in the session, only energy and consumer staples trade in positive territory. The energy sector sports a slim gain of less than 0.1% while crude oil trades lower by 1.1% at $107.61 per barrel after exhibiting some notable volatility that coincided with comments from Secretary of State John Kerry.

The choppy action in oil (as well as the broader market) highlights today's below-average liquidity as participants keep away from risk ahead of a weekend filled with uncertainty. With two hours left in the session, only 275 million shares have changed hands on the NYSE floor.DJ30 -52.76 NASDAQ -30.35 SP500 -7.25 NASDAQ Adv/Vol/Dec 557/722.9 mln/1888 NYSE Adv/Vol/Dec 788/277.4 mln/2148

1:30 pm : Market volatility picked up in the last half hour in the midst of a statement from Secretary of State Kerry on the Syrian situation. In a nutshell, his remarks implied the US will act alone if necessary in striking Syria to prevent its use of chemical weapons, but that the consultations continue to determine how and when to respond.

The immediate impact of Kerry's remarks highlighted the event risk going into the holiday weekend, and although the market is trading near levels it was at prior to the start of Secretary Kerry's remarks, there now seems to be even less incentive to do any aggressive buying in front of the weekend. DJ30 -25.05 NASDAQ -23.51 SP500 -3.74 NASDAQ Adv/Vol/Dec 605/670 mln/1827 NYSE Adv/Vol/Dec 864/256 mln/2056

1:00 pm : The major averages have spent the first half of the session in a steady downtrend. The S&P 500 holds a midday loss of 0.3% while a 1.2% decline in the Russell 2000 has small caps lagging the broader market.

Although stocks are hovering near their lows, participation in today's session has been limited. Investors have steered away from risk ahead of the long weekend as the possibility of a military strike against Syria looms. At this juncture, only 220 million shares have changed hands on the floor of the New York Stock Exchange.

Seven of ten sectors hold midday losses with most cyclical groups pacing the decline. Financials, industrials, technology, and discretionary shares are down between 0.4% and 0.6%.

The discretionary sector has been pressured by home builders and retailers. The iShares Dow Jones US Home Construction ETF (ITB 20.64, -0.32) is lower by 1.5% while the SPDR S&P Retail ETF (XRT 77.96, -0.51) trades down 0.7%. While most retailers lag, Big Lots (BIG 35.58, +0.94) is a notable outperformer, trading higher by 2.7% after beating on earnings.

Elsewhere, the industrial space has been pressured by transportation-related names as trucking companies display broad losses. The Dow Jones Transportation Average is lower by 0.8%.

On the upside, consumer staples, energy, and materials hover just above their flat lines.

With today's session marking the end of August, all ten sectors are on track to finish the month in negative territory. The materials sector has had the best showing this month as it holds a loss of less than 0.1% while the rate-sensitive utilities space is on pace to finish behind the remaining nine groups with a decline of 5.6%.

Treasuries have been confined to a tight range with the benchmark 10-yr yield holding steady at 2.76%.

Although Treasuries have not reflected an aggressive safety bid, the steady climb in the CBOE Volatility Index (VIX 17.40, +0.59) suggests participants have demanded some downside protection as the near-term volatility measure hovers at its highest level since late June.

Personal income increased 0.1% in July, down from a 0.3% increase in June and exactly what the Briefing.com consensus expected. Employee compensation fell 0.2% as wages and salaries declined by 0.3%. That pullback was in-line with the July employment report, which showed aggregate earnings down 0.3% in July. The drop in compensation was offset by a 0.7% increase in receipts on assets, which was primarily driven by equity gains.

Spending levels were weak. Consumption grew 0.1% in July after increasing an upwardly revised 0.6% (from 0.5%) in June. The consensus expected personal spending to increase 0.3%.

The Chicago PMI increased to 53.0 in August from 51.6 in July. That was exactly what the Briefing.com consensus expected. Production levels weakened slightly as the index fell from 53.6 in July to 53.0 in August. The drop in production, however, was not related to a pullback in orders. New orders increased in August to 57.2, which is the highest level since May. Order backlogs remained in contraction for a third consecutive month, but improved from 42.9 in July to 46.5 in August.

Consumer sentiment was revised up to 82.1 in the final reading of the August University of Michigan Consumer Sentiment Index from 80.0 in the preliminary reading. The upward revision still leaves sentiment below the 85.1 reading in July. The Briefing.com consensus expected the Consumer Sentiment Index to remain at 80.0.DJ30 -39.31 NASDAQ -25.77 SP500 -4.63 NASDAQ Adv/Vol/Dec 598/578.9 mln/1828 NYSE Adv/Vol/Dec 870/219.4 mln/2036

12:30 pm : The S&P 500 has spent the past 30 minutes ticking up from its lows, but the recovery has been limited to just two points so far. Prior to the open we mentioned that trading volume may fall on the light side today. That expectation has been met so far as only 200 million shares have been traded on the floor of the New York Stock Exchange at this juncture.

Below-average volume was expected given the upcoming three-day weekend as well as the increased likelihood of military action in Syria. Secretary of State John Kerry is scheduled to begin speaking about the latest developments regarding Syria momentarily.DJ30 -37.48 NASDAQ -24.01 SP500 -4.32 NASDAQ Adv/Vol/Dec 605/534.2 mln/1812 NYSE Adv/Vol/Dec 866/202.2 mln/2005

12:00 pm : Equities remain confined to a downtrend and the S&P 500 has notched fresh session lows during the past 30 minutes. Meanwhile, small caps have displayed considerable weakness as the Russell 2000 trades lower by 1.2%.

Although stocks have retreated steadily since the open, there doesn't appear to be much of a rush into Treasuries. The benchmark 10-yr note is up three ticks with its yield down one basis point at 2.75%.

However, the steady climb in the CBOE Volatility Index (VIX 17.53, +0.72) suggests participants have demanded some downside protection as the near-term volatility measure hovers at its highest level since late June.DJ30 -55.89 NASDAQ -29.20 SP500 -6.42 NASDAQ Adv/Vol/Dec 545/480.1 mln/1854 NYSE Adv/Vol/Dec 798/181.3 mln/2071

11:30 am : The major averages continue to hover near their lows. The S&P 500 sports a loss of 0.3% while the Nasdaq (-0.6%) underperforms. With today's session marking the end of August, the three major averages are all poised to finish the month in negative territory.

The S&P is on pace to register an August loss of 3.1% while the Nasdaq is lower by 0.8% this month. For its part, the Dow has lost 4.5% this month, which has placed the price-weighted index in negative territory for the quarter (-0.7%).

With regard to individual sectors, only the materials space is on track to post an August advance of 0.1% while the utilities sector has had the roughest month of all ten groups, falling 5.9%.DJ30 -46.03 NASDAQ -24.79 SP500 -5.26 NASDAQ Adv/Vol/Dec 592/410.5 mln/1762 NYSE Adv/Vol/Dec 856/155.7 mln/1987

11:00 am : Recent action saw the major averages slip to fresh lows. The S&P 500 is off 0.4% as influential sectors weigh. Financials, industrials, technology, and discretionary shares all trade with losses between 0.4% and 0.7% with the discretionary sector leading to the downside.

The discretionary space is enduring broad weakness with retailers and home builders trailing behind the broader market. The iShares Dow Jones US Home Construction ETF (ITB 20.67, -0.29) is lower by 1.4%.

While most discretionary components lag, Big Lots (BIG 35.52, +0.88) sports a gain of 2.5% after beating on earnings.

On the upside, consumer staples, energy, and materials outperform with gains of 0.1% apiece.DJ30 -48.23 NASDAQ -27.51 SP500 -5.93 NASDAQ Adv/Vol/Dec 554/341.5 mln/1783 NYSE Adv/Vol/Dec 820/131.1 mln/2004

10:30 am : The dollar index is trading +0.2% at 82.12, while most commodities are lower overall.

In the energy space, WTI crude oil is trading lower, despite the rally seen minutes ago from around $108/barrel to $108.60/barrel. Meanwhile brent crude oil is actually near the flat line (chopping around higher and lower above this level). In current trade, brent crude oil is +0.02% at $115.18/barrel. WTI crude oil is -0.6% at $108.20/barrel.

Natural gas has been sliding lower since the overnight session and hit a new LoD of $3.59/MMBtu (in the Oct contract) about 45 minutes ago. Oct nat gas is now -0.3% at $3.621/MMBtu.

In precious metals, gold and silver have been in the red all session so far. Dec gold has been just below $1400/oz since the overnight session and is now -1.2% at $1396.40/oz. Sept silver is -2.4% at $23.55/oz.DJ30 -33.52 NASDAQ -18.95 SP500 -3.24 NASDAQ Adv/Vol/Dec 664/251.7 mln/1607 NYSE Adv/Vol/Dec 967/100 mln/1804

10:00 am : The S&P 500 has spent the first 30 minutes of the session chopping around its flat line. Currently, the index remains little changed while the Nasdaq (-0.4%) underperforms.

Sector standing remains little changed from the opening minutes as energy, industrials, and materials outperform with gains between 0.1% and 0.3% while consumer staples (-0.3%) and utilities (-0.5%) weigh.

Separately, it was reported a short time ago that the final reading for the University of Michigan Consumer Sentiment report for August was revised up to 82.1 (Briefing.com consensus 80.0) from 80.0. Equities did not show much reaction to the report but Treasuries fell to their lows. The benchmark 10-yr yield is higher by two basis points at 2.78%.DJ30 -23.08 NASDAQ -14.99 SP500 -2.31 NASDAQ Adv/Vol/Dec 709/160.1 mln/1493 NYSE Adv/Vol/Dec 950/69.7 mln/1734

09:45 am : The major averages slipped into the red after starting the session with modest gains. The S&P 500 sits just below its flat line as individual sectors trade mixed with energy (+0.4%) and industrials (+0.1%) outperforming while discretionary shares (-0.2%) and utilities (-0.5%) lag.

Treasuries continue to hold their levels with the benchmark 10-yr yield at 2.76%.

Just released, the August Chicago PMI rose to 53.0 from 52.3. This report was in-line with the Briefing.com consensus.DJ30 -8.83 NASDAQ -6.63 SP500 -0.42 NASDAQ Adv/Vol/Dec 730/97.2 mln/1379 NYSE Adv/Vol/Dec 1137/50.7 mln/1508

09:14 am : [BRIEFING.COM] S&P futures vs fair value: +3.30. Nasdaq futures vs fair value: +3.50. The major averages are expected to begin today's session near their flat lines as equity futures trade with modest gains. Futures climbed through the generally upbeat Asian session, but began slipping as the European session approached. Currently, the S&P 500 futures sport a slim gain of 0.2%.

Today's participation is expected to fall on the light side with the three-day weekend looming. Also, given the situation surrounding Syria, it would not be surprising to see investors approach risk with caution. NYSE floor volume averaged less than 594 million shares through the first four sessions of the week and today's total is not expected to surpass this average.

Treasuries are little changed with the benchmark 10-yr yield holding steady at 2.76%.

August Chicago PMI will be reported at 9:45 ET and the final reading of the University of Michigan Consumer Sentiment Survey for August will be released at 9:55 ET.

08:57 am : [BRIEFING.COM] S&P futures vs fair value: +2.00. Nasdaq futures vs fair value: +0.70. The S&P 500 futures hover just above their flat line.

Markets across Asia were mostly higher as some of the recently beaten down averages outperformed. India's Sensex (+1.3%) gained after Prime Minister Manmohan Singh reassured citizens the country was not headed back to the 1991 crisis. Mr. Singh said the country needs to narrow its current account deficit, suggesting, "We need to reduce our appetite for gold, economize the use of petroleum products and take steps to increase our exports." Other emerging markets such as Indonesia (+2.2%) and the Philippines (+2.2%) saw robust gains. Elsewhere, Japan's Nikkei (-0.5%) slipped after mostly in-line economic data. Markets in China and Hong Kong were little changed. Data out overnight was heavy, but mostly limited to Japan as household spending ticked up 0.1% year-over-year (0.4% expected); national core CPI surged 0.7% year-over-year (0.6% expected); Tokyo core CPI climbed 0.4% year-over-year (0.4% expected); and preliminary industrial production gained 3.2% month-over-month (3.9% expected). Elsewhere, Australia's private sector credit was in-line at 0.4% month-over-month.

In Japan, the Nikkei slipped 0.5%, closing lower for a fourth straight month. A stronger yen weighed on exporters as Honda Motor gave up 1.0% and TDK shed 3.7%.
Hong Kong's Hang Seng added 0.1% amid a choppy trade. Financials were mostly lower as Bank of China and China Merchants Bank gave up 0.6% and 0.9%, respectively.
In China, the Shanghai Composite settled higher by 0.1% as port operators led the way after reports suggested other cities may join Shanghai in establishing free trade zones. Tianjin Port and Ningbo Port both surged the limit, 10%.

Major European indices hover in the red following an avalanche of economic data. Eurozone CPI rose 1.3% (1.4% expected, 1.6% prior) while Core CPI climbed 1.1% (1.2% expected, 1.1% previous). In addition, Consumer Confidence improved to -16.0 from -17.4 (-17.0 consensus), Business Climate ticked up to -0.2 from -0.5 (-0.3 forecast), and the Business and Consumer Survey held steady at 95.2 (93.5 expected). Also of note, industrial sentiment rose to -8.0 from -10.6 (-10.0 consensus) while the unemployment rate remained unchanged at 12.1%. Elsewhere, Germany's retail sales fell 1.4% month-over-month (0.5% expected, -0.8% prior) while the year-over-year reading rose 2.3% (2.0% expected, -2.4% prior). Great Britain's Nationwide HPI came in at 0.6% month-over-month (0.6% expected, 0.9% previous) while Mortgage Approvals increased 61,000 (59,000 expected, 58,000 prior), and mortgage lending was reported at GBP0.70 billion (GBP1.10 billion forecast, GBP1.00 billion prior). Italian CPI ticked up 0.3% month-over-month (0.2% expected, 0.1% prior) and the monthly unemployment rate slipped to 12.0% from 12.1% (12.2% expected). Spain reported a current account surplus of EUR2.57 billion (EUR2.40 billion prior).

In news, the British Parliament has voted against David Cameron's resolution calling for military action against Syria. Meanwhile, French President Francois Hollande said his country is ready to act without British involvement.

Great Britain's FTSE is lower by 0.5% as airlines lead to the downside. EasyJet and International Consolidated Airlines Group trade down 2.1% and 1.2%, respectively. Financials have also shown relative weakness with Royal Bank of Scotland down 1.3%.
Germany's DAX trades down 0.8%. Deutsche Lufthansa is the weakest performer for the second consecutive day. The air carrier trades lower by 1.5%. On the upside, Commerzbank and Deutsche Bank trade higher by 1.4% and 2.0%, respectively.
In France, the CAC holds a loss of 0.9% as industrials lag. Bouygues is lower by 2.7% and Schneider Electric trades down 1.4%. L'Oreal is a notable outperformer with a gain of 4.8% after reporting strong results.

08:33 am : [BRIEFING.COM] S&P futures vs fair value: +2.20. Nasdaq futures vs fair value: +1.50. The S&P 500 futures trade higher by 0.1%.

July personal income rose 0.1%, in-line with the Briefing.com consensus. Meanwhile, personal spending increased 0.1%, below the Briefing.com consensus, which called for an uptick of 0.3%.

Lastly, core PCE prices ticked up 0.1% while the Briefing.com consensus expected an increase of 0.2%.

07:58 am : [BRIEFING.COM] S&P futures vs fair value: +4.00. Nasdaq futures vs fair value: +4.50. U.S. equity futures hold modest gains amid mixed overseas action. The S&P 500 futures are higher by 0.1%.

Looking at overnight developments:

Asian markets ended mixed. China's Shanghai Composite +0.1%, Hong Kong's Hang Seng +0.1%, and Japan's Nikkei -0.5% as the yen strengthened against the dollar before surrendering its gains during the European session.
In regional economic data:
Japan's National CPI came in at 0.7% year-over-year (0.2% prior) while the National Core CPI also increased 0.7% (0.6% expected, 0.4% previous). Separately, Tokyo CPI rose 0.5% year-over-year (0.4% prior) while the Tokyo Core CPI climbed 0.4% (0.4% forecast, 0.3% previous). In addition, Manufacturing PMI rose to 52.2 from 50.7 while household spending ticked up 0.1% year-over-year (0.3% expected, -0.4% previous). Also of note, the unemployment rate slipped to 3.8% (3.9% expected, 3.9% prior), industrial production rose 3.2% month-over-month (3.7% forecast, -3.1% previous), construction orders rose 13.7% year-over-year (21.9% prior), and housing starts increased 12.0% year-over-year (13.6% expected, 15.3% prior).
Australia's Private Sector Credit ticked up 0.4% month-over-month (0.3% expected, 0.4% prior).
South Korean retail sales increased 1.1% (0.2% consensus, 0.9% prior).
In news:
After the Japanese data was released, economy minister Akira Amari and finance minister Taro Aso reiterated their positions supporting next year's sales tax hike.

Major European indices hover in the red. Great Britain's FTSE -0.5%, Germany's DAX -0.7%, and France's CAC -0.7%.
Investors received a slew of economic data:
Eurozone CPI rose 1.3% (1.4% expected, 1.6% prior) while Core CPI climbed 1.1% (1.2% expected, 1.1% previous). In addition, Consumer Confidence improved to -16.0 from -17.4 (-17.0 consensus), Business Climate ticked up to -0.2 from -0.5 (-0.3 forecast), and the Business and Consumer Survey held steady at 95.2 (93.5 expected). Also of note, industrial sentiment rose to -8.0 from -10.6 (-10.0 consensus) while the unemployment rate remained unchanged at 12.1%.
Germany's retail sales fell 1.4% month-over-month (0.5% expected, -0.8% prior) while the year-over-year reading rose 2.3% (2.0% expected, -2.4% prior).
Great Britain's Nationwide HPI came in at 0.6% month-over-month (0.6% expected, 0.9% previous) while Mortgage Approvals increased 61,000 (59,000 expected, 58,000 prior), and mortgage lending was reported at GBP0.70 billion (GBP1.10 billion forecast, GBP1.00 billion prior).
Italian CPI ticked up 0.3% month-over-month (0.2% expected, 0.1% prior) and the monthly unemployment rate slipped to 12.0% from 12.1% (12.2% expected).
Spain reported a current account surplus of EUR2.57 billion (EUR2.40 billion prior).
Looking at news:
The British Parliament has voted against David Cameron's resolution calling for military action against Syria. Meanwhile, French President Francois Hollande said his country is ready to proceed without British involvement.

In U.S. corporate news:

Big Lots (BIG 35.10, +0.46) is +1.3% after reporting a bottom-line beat.
Salesforce.com (CRM 47.53, +3.88) is +8.9% after beating on earnings and revenue. In addition, the company guided third quarter earnings and revenue above consensus.
Krispy Kreme Doughnuts (KKD 20.18, -3.05) is -13.1% after missing on earnings.

July personal income, personal spending, and core PCE prices will all be reported at 8:30 ET. The August Chicago PMI report will cross the wires at 9:45 ET and the final reading of the August Michigan Consumer Sentiment Survey will be released at 9:55 ET.

07:11 am : [BRIEFING.COM] S&P futures vs fair value: +4.00. Nasdaq futures vs fair value: +5.00.

07:11 am : Nikkei...13388.86...-70.90...-0.50%. Hang Seng...21731.37...+21731.40...+0.10%.

07:11 am : FTSE...6455.97...-27.00...-0.40%. DAX...8157.45...-37.40...-0.50%.

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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