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 Post subject: September 6th Friday Trade Results - Profit $14490.00
PostPosted: Fri Sep 06, 2013 8:30 pm 
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Joined: Sat Jan 10, 2009 2:06 pm
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
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 @ $240.00 dollars or +2.40 points, Emini ES ($ES_F) futures @ $14250.00 dollars or +285.00 points, Light Crude Oil CL ($CL_F) futures @ $0.00 dollars or +0.00 points, Gold GC ($GC_F) futures @ $0.00 dollars or +0.00 points and EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks. Total Profit @ $14490.00 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=121&t=1597

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=219&t=1973

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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.

Jobs Report And Syria Fears Whipsaw Stocks

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

NEW YORK (CNNMoney)
It was a choppy day on Wall Street, thanks to a lackluster August jobs report and more concerns about Syria.

The Dow Jones industrial average finished lower for the first time this week, while the S&P 500 and Nasdaq closed barely changed. But all three indexes swung between modest gains and sizable losses earlier in the day.

Despite the volatility, stocks ended the week modestly higher. The Dow gained 0.8%, the S&P 500 increased 1.4%, and the Nasdaq jumped nearly 2%.

Syria worries: After initially pushing stocks higher on the prospect that the Federal Reserve might delay its plans to taper in September, investors quickly shifted their attention to the G-20 meeting in St. Petersburg. Russian president Vladimir Putin spooked the markets with comments about his support for Syria. The indexes briefly tumbled after Putin told reporters that Russia would continue arms sales and provide aid to Syria if the nation were attacked.

Putin met with President Obama earlier Friday. The Russian president called their meeting "constructive," but added that "he doesn't agree with me, I don't agree with him."

Putin's comments come as Obama seeks international and domestic backing for military action against Syria in response to the Syrian's government's alleged use of chemical weapons against its own people last month.

"World leaders are divided on the matter, and this has left the markets fearful of the implications of what looks to be a very likely strike by the United States as early as next week," said ETX Capital market strategist Ishaq Siddiqi in a note to clients.

Siddiqi said traders are worried that a U.S. strike would be met with Russian retaliation, prompting allies China and Iran to also provide support for Syria. While the United Kingdom is standing down for now, the United States has the support of France and Israel.

As investors worried about stability in the Middle East, they pushed oil prices up 1.7% Friday, above $110 per barrel.

* Why Syria matters to oil markets

August jobs report may delay Fed tapering? The weak August jobs report led some investors to think that the Fed may hold off on plans to start trimming its bond buying program later this month.

Investors had been eagerly awaiting the jobs report, as it is the last major piece of economic data leading up to the Fed's next meeting in less than two weeks.

The economy added 169,000 jobs last month, fewer than the 185,000 economists surveyed by CNNMoney were forecasting. The unemployment rate ticked lower to 7.3%, as expected, but the drop was due to a falling labor force participation rate. Job gains for both June and July were also revised lower.

Bond prices rose and Treasury yields fell following the jobs report, with the 10-year yield dipping to 2.9% from nearly 3%. (Bond prices and yields move in opposite directions.) Investors may be betting that the Fed will continue to buy $85 billion in bonds a month as opposed to pulling back on these purchases.

"If there is a silver lining for investors, the jobs data give the Fed something to consider carefully before their impending decision on whether or not to begin tapering their bond purchase program," said Jim Baird, chief investment officer at Plante Moran Financial Advisors. Baird added that the jobs data "certainly doesn't point to an economy that is firing on all cylinders."

* Video - Bond yields hitting 3%? Not so fast!

Still, the latest jobs numbers do not completely eliminate the possibility of Fed tapering this month, according to Kathy Lien, managing director at BK Asset Management.

"We know there is a high level of support inside the central bank to reduce asset purchases and the only question is timing," she said.

But even if the Fed does decide to taper this month, Lien expects only "an incremental reduction" in bond purchases as well as reassuring comments to prevent a sharp rebound in bond yields.

What's moving: Smith & Wesson (SWHC) shares tumbled after the gun maker reported a disappointing outlook for the current quarter.

Facebook (FB) shares rose 3%. The social network's stock hit a new 52-week high of $44.61 and is inching closer to its all-time high of $45. The rise made Facebook the most talked about stock among StockTwits traders. But investors were divided on whether Facebook's gains are warranted.

patrick_walther: $FB Explosive. Will probably see $50 later this year. Where are all those Facebook haters now? Bullish

tbmo: $FB ugh, I'm not even surprised people are dumb enough to give this company all their information, and now money as well.

Social networks LinkedIn (LNKD) and Yelp (YELP) were also moving sharply higher.

theoptiondon: Wherever $FB goes, $LNKD follows Bullish

vermut: $FB $LNKD $YELP making new highs today! Super strength. Stay with the leaders! Bullish

J.C. Penney (JCP, Fortune 500) shares got a small lift after billionaire media mogul and Dallas Mavericks owner Mark Cuban told CNBC he has purchased 1 million shares of the struggling Plano, Texas-based retailer.

Smithfield Foods (SFD, Fortune 500) shares edged lower after the meat processor posted a drop in earnings due to weak exports to Japan, China and Russia. The company announced an agreement earlier this year to be acquired by China's Shuanghui International, a deal now awaiting approval from the U.S. government.

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4:15 pm : The S&P 500 eked out the slimmest of gains (+0.09 point) to register its fourth consecutive advance, maintaining its September advance at 1.4%.

Prior to the opening bell, it was reported that August nonfarm payrolls increased by 169,000, which was below the 177,000 expected by the Briefing.com consensus. Private payrolls came in at 152,000 while the consensus expected a reading closer to 180,000. More notably, July nonfarm payrolls were revised down nearly 36% to 104,000 from 162,000 while private payrolls saw a 21% revision to 127,000 from 161,000. The unemployment rate ticked down to 7.3% from 7.4%, but once again, that was the result of a drop in the labor force participation rate to 63.2%. This represents the lowest rate since August 1978. The one bright spot could be found in aggregate income, which increased 0.6%.

A recent stretch of better-than-expected data played into the expectation that the Fed may lower the pace of its asset purchases at the upcoming September 17/18 FOMC meeting. However, today's jobs report painted a more uncertain picture, which sparked a market reaction consistent with lowered expectations of tapering in the near term.

Immediately following the report, crude oil, equity futures, Treasuries, and gold futures jumped to their highs while the Dollar Index (82.15, -0.48) tumbled to its lows. Most notably, the 10-yr note saw its yield slide from 2.96% to 2.87%. However, Treasuries surrendered a portion of their gains intraday with the benchmark 10-yr yield closing at 2.94%.

The opening hour saw the S&P lose its 50-day average (1657/1658) after headlines from the conclusion of the G-20 summit indicated Russian President Vladimir Putin said his country will assist Syria in the event of an external attack. However, Russia and Syria have been allied for years, thus Mr. Putin's comments were not necessarily a "new" development. The ensuing selloff ended as the S&P bounced at its 100-day moving average (1642/1643) and regained its 50-day average in late-morning action.

Stocks slipped from their highs and the S&P once again lost its 50-day average during the final hour after reports from Al-Arabiya indicated another chemical attack has taken place in Damascus. However, the veracity of the reports could not be confirmed as Al-Arabiya attributed the report to an 'unidentified activist.'

With the continued uncertainty surrounding the situation in the Middle East, crude oil climbed throughout the day. The energy component ended higher by 2.0% at $110.54 per barrel, registering its highest close since May 2011.

Elsewhere, gold futures climbed 1.0% to $1.386.70 per troy ounce. This contributed to the strength of miners as the Market Vectors Gold Miners ETF (GDX 28.01, +0.48) advanced 1.7%.

Consumer staples (+0.1%) and utilities (+0.6%) outperformed as the retreat in yields provided the two groups with a measure of support.

Today's participation was somewhat limited as 672 million shares changed hands on the floor of the New York Stock Exchange.

Monday's economic data will be limited to the July consumer credit report, which is scheduled to be released at 15:00 ET.

Week in Review: Stocks and Yields Climb

On Monday, bond and equity markets were closed for Labor Day. Tuesday's session saw the S&P 500 add 0.4% after intraday weakness knocked the index off its high, and below its 100-day moving average. Equities displayed broad strength at the open after global indices rallied on Monday. The early gains did not hold past the initial two hours as late-morning comments from House Speaker John Boehner and Majority Leader Eric Cantor served as a reminder that the option of military action in Syria remains likely. Both Speaker Boehner and Mr. Cantor said they support the president's "call to action" with U.S. Congress scheduled to debate the issue during the week of September 9. Crude oil climbed with the remarks from the two Congressional leaders providing an additional boost. The energy component rose 0.8% to $108.55 per barrel while the energy sector added 0.6%. Commodities were strong all-around as gold futures advanced 1.2% and silver futures spiked 3.4% to $1412.30 and $24.31 per troy ounce, respectively. In addition, copper jumped 2.4% to $3.312 per pound. As a result, the materials sector finished among the leaders with a gain of 0.6%.

The market resumed its climb on Wednesday. The S&P 500 settled higher by 0.8% and regained its 100-day moving average (1640/1641) shortly after the open. The Dow and S&P started the session by chopping around their respective flat lines before the two indices began tracking the Nasdaq, which outperformed with a gain of 1.0%. Morning reports revealing Senator John McCain's tepid support for the first draft of the Syria strike proposal fueled speculation that the whole plan could be in danger of unraveling. That was enough to spark a risk rally with some short-covering activity peppered in after sellers had pressed on anticipating the plan to make its way swiftly through the Senate Foreign Relations Committee. In the end, an afternoon vote containing two McCain amendments passed through the Committee by a 10-7 vote. Stocks slipped from their highs in reaction to the results of the afternoon vote, but still managed to hold the vast majority of their gains. Meanwhile, Treasuries did not reflect much of a safety bid as the complex remained pinned to its lows. The benchmark 10-yr yield ended higher by 5 basis points at 2.894%. More notable was the move in the 2-yr yield, which added four basis points to end at 0.462%, the highest since June 2011.

On Thursday, the S&P 500 added 0.1% to register its third consecutive advance. Although stocks finished in positive territory, their gains were capped by the benchmark 10-yr yield hitting its highest levels since July 2011.Treasuries began displaying weakness overnight as the Asian session got underway. The selling paused briefly during U.S. pre-market action before a slate of better-than-expected economic reports for initial claims, second quarter productivity, factory orders, and ISM Services lent support to the belief that the Federal Reserve would begin slowing the pace of its asset purchases at the upcoming September 17/18 policy meeting. The benchmark 10-yr yield rose eight basis points to 2.98%. The continued rise in interest rates has pressured on the most rate-sensitive sectors. Consumer staples (-0.1%), telecom services (-0.8%), and utilities (-0.4%) finished at the bottom of the Thursday leader board, which widened their third quarter losses. Since the start of July, the three sectors are down 0.5%, 6.2%, and 3.2%, respectively. Meanwhile, the last countercyclical group, health care, maintained its quarter-to-date gain of 5.1% thanks to the continued strength of biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 201.55, -0.37) is higher by 16.1% this quarter. In turn, the relative strength of biotech companies has helped the Nasdaq outperformed the other indices during the third quarter.DJ30 -14.98 NASDAQ +1.23 SP500 +0.09 NASDAQ Adv/Vol/Dec 1211/1.67 bln/1300 NYSE Adv/Vol/Dec 1714/671.7 mln/1254

3:35 pm : Commodities ended mostly higher today, excluding natural gas and ethanol.

Crude oil futures continues to slowly move higher today, rising as high as $110.70 a couple of minutes ahead of the end of floor trading. Syria continued to be a focus, which provided price support to crude oil prices. By the end of today's session, crude oil ended 2% higher at $110.54/barrel.

Natural gas futures displayed the opposite trend today, hitting its low for the day at $3.52/MMBtu during the afternoon session. Oct natural gas fell 1.4% to $3.53/MMBtu.

After surging higher this morning, both gold and silver continued to hold gains for the rest of the day, trading just under session highs. Dec gold rose 1% to $1,386.70/oz, while Dec silver rose 2.8% to $23.90/oz. DJ30 +19.51 NASDAQ +8.67 SP500 +4.37 NASDAQ Adv/Vol/Dec 1306/1421.9 mln/1183 NYSE Adv/Vol/Dec 1933/462 mln/1016

3:00 pm : The S&P 500 is higher by 0.5% as we head into the final hour of today's session. So far today, the benchmark index has treated participants to a volatile morning followed by a sleepy afternoon.

Similarly, the foreign exchange market was active early on, but quiet over the course of recent action. The Dollar Index (82.18, -0.45) hovers near its lows with the greenback surrendering notable ground to major currencies. The Dollar took its first leg down in reaction to today's below-consensus nonfarm payrolls report, which the Treasury market viewed as not strong enough to support a tapering decision at the upcoming September 17/18 FOMC meeting. Following a modest rebound, the Index fell to fresh lows as comments from the G-20 Summit crossed with Russian President Vladimir Putin saying his country will assist Syria in the event of an external attack.

Notably, dollar/yen traded with a 100-handle before sliding overnight after South Korea expanded its ban on Japanese fish products due to fears of contamination from the ongoing leaks at the Fukushima nuclear plant. The yen rallied once again in the wake of the U.S. nonfarm payrolls report, falling to 98.58 before retracing roughly half of its losses during the afternoon. Currently, the pair trades near 99.21.DJ30 +44.01 NASDAQ +13.56 SP500 +6.82 NASDAQ Adv/Vol/Dec 1440/1.26 bln/1047 NYSE Adv/Vol/Dec 2055/410.1 mln/902

2:35 pm : Equities continue to hold their recent levels as the final session of the week nears its completion. Although stocks have essentially held their levels throughout the afternoon, crude oil has continued its climb. The energy component is higher by 2.1% at $110.60 per barrel, which puts it less than $2 below its 2013 intraday high of $112.22/bbl that was registered on August 28.

The large gain in oil has supported the energy sector, which continues to lead all cyclical groups with an advance of 0.6%. The energy sector is being closely followed by industrials as the Dow Jones Transportation Average adds 0.6% even with oil futures ending the session at their highest level since May 2011.DJ30 +56.62 NASDAQ +15.56 SP500 +8.20 NASDAQ Adv/Vol/Dec 1434/1.19 bln/1031 NYSE Adv/Vol/Dec 2092/386.7 mln/852

2:00 pm : Recent action saw the major averages notch fresh session highs. The move included upticks in all ten sectors and the telecom services space was able to climb out of negative territory.

Intraday participation suggests today's final trading volume will come in below average as only 351 million shares have changed hands on the floor of the New York Stock Exchange.

Market breadth remains tilted to the upside as NYSE advancers outpace decliners by 2.5:1 ratio. Meanwhile, on the Nasdaq, there are 1.5 advancing issues for every name trading lower.DJ30 +64.01 NASDAQ +16.39 SP500 +8.59 NASDAQ Adv/Vol/Dec 1462/1.1 bln/999 NYSE Adv/Vol/Dec 2076/353.3 mln/841

1:30 pm : The S&P 500 hovers just below its best level of the session as the quiet afternoon continues. Excluding the opening slide and the subsequent rebound, the benchmark index has been confined to a two-point range.

Similarly, sector leadership has not undergone much change as rate-sensitive consumer staples (+0.5%) and utilities (+1.1%) as well as cyclical energy (+0.5%) and industrials (+0.4%) maintain their leadership.

Also of note, the discretionary sector trades in-line with the broader market, which masks the sharp gains in major homebuilders. DR Horton (DHI 18.34, +0.57), PulteGroup (PHM 15.74, +0.48), and Lennar (LEN 32.78, +1.25) are up between 3.2% and 4.0% while the broader iShares Dow Jones US Home Construction ETF (ITB 21.06, +0.54) sports a gain of 2.6%.DJ30 +43.89 NASDAQ +9.24 SP500 +5.74 NASDAQ Adv/Vol/Dec 1313/1.01 bln/1134 NYSE Adv/Vol/Dec 1959/328.8 mln/945

12:55 pm : The major averages sport modest midday gains with the S&P 500 higher by 0.2%. Equities displayed some volatility shortly after the open before clawing their way back to the early highs.

Before the session began it was reported that August nonfarm payrolls increased by 169,000, which was below the 177,000 expected by the Briefing.com consensus. More notably, July payrolls were revised down nearly 36% to 104,000 from 162,000. The unemployment rate ticked down to 7.3% from 7.4%, but once again, that was the result of a drop in the labor force participation rate to 63.2%. This represents the lowest rate since August 1978. The one bright spot could be found in aggregate income, which increased 0.6%.

Immediate reaction saw a bid across the Treasury complex (10-yr yield -9 bps at 2.90%) while equity futures perked up in anticipation of an upbeat open. Meanwhile, the Dollar Index (82.19, -0.44) fell to its lows while gold futures jumped to their highs ($1388.20, +15.10).

The moves in the four asset classes were consistent with participants seeing the report as not strong enough to support a case for tapering in the near term.

Following the higher open, the S&P 500 tumbled below its 50-day average (1657/1658) after headlines from the G-20 Summit in Russia indicated Russian President Vladimir Putin said his country will assist Syria in the event of an external attack. However, it should be noted Russia and Syria are long-standing allies and Russia has been providing weapons to the Middle Eastern country for years.

The S&P was able to find support at its 100-day average (1642/1643) and the subsequent return to its session high placed the index back above the 50-day average where the benchmark average currently rests.

In addition to causing a brief slide in equities, Mr. Putin's comments sent the Dollar Index to fresh lows while Treasuries essentially held their levels. Following the remarks, crude oil jumped to a fresh high, where it currently holds. The energy component trades higher by 1.9% at $110.37 per barrel. On a related note, the energy space (+0.4%) is the top performing cyclical group.DJ30 +15.01 NASDAQ +6.14 SP500 +3.64 NASDAQ Adv/Vol/Dec 1247/930.1 mln/1191 NYSE Adv/Vol/Dec 1883/300.9 mln/996

12:30 pm : The major averages have held their current levels for the past 90 minutes. All six cyclical sectors are essentially bunched together as they sport gains between 0.2% and 0.5%. The energy sector is the top performer while the other commodity-linked sector, materials, underperforms.

Producers of basic materials have been pressured by the underperformance of two of the largest sector components. DuPont (DD 57.14, -0.47) and Monsanto (MON 100.91, -0.58) are lower by 0.8% and 0.6%, respectively. Meanwhile, steelmakers and miners have displayed strength. The Market Vectors Steel ETF (SLX 44.00, +0.40) is higher by 0.9% and the Market Vectors Gold Miners ETF (GDX 27.91, +0.38) trades up 1.4%. On a related note, gold futures trade higher by 1.0% at $1386.50 per troy ounce.DJ30 +38.16 NASDAQ +8.75 SP500 +5.60 NASDAQ Adv/Vol/Dec 1274/868.8 mln/1170 NYSE Adv/Vol/Dec 1961/280.7 mln/908

12:05 pm : Equities continue to hold modest gains and the S&P 500 has spent the past hour near its current level. Despite the earlier hiccup, the major averages are poised to end the first week of September with solid gains. The S&P is on track to post an advance of 1.7% while the Nasdaq looks to add 2.1%.

Outperformance of the tech-heavy Nasdaq has been a mainstay throughout the quarter. With one month to go in Q3, the Nasdaq holds a quarter-to-date gain of 7.8%. Meanwhile, the benchmark S&P has gained 3.4% this quarter.

With stocks holding their highs, the CBOE Volatility Index (VIX 15.44, -0.33) is on its lows.DJ30 +35.94 NASDAQ +8.58 SP500 +5.83 NASDAQ Adv/Vol/Dec 1297/801.1 mln/1120 NYSE Adv/Vol/Dec 2030/261.7 mln/837

11:30 am : The major averages hold modest gains with the S&P 500 up 0.3%. Nine of ten sectors trade in positive territory while this quarter's weakest group, telecom services, remains in the red.

Although nine sectors are trading higher, only energy (+0.6%) and utilities (+1.2%) are showing gains larger than the broader market.

While stocks have been able to rebound from the early weakness, the Dollar Index (82.15, -0.48) remains near its worst levels of the day. Similarly, Treasuries hover near their highs with the benchmark 10-yr yield down nine basis points at 2.91%.DJ30 +36.23 NASDAQ +5.48 SP500 +5.10 NASDAQ Adv/Vol/Dec 1254/705.1 mln/1130 NYSE Adv/Vol/Dec 1966/232.6 mln/885

11:00 am : The major averages have battled their way back from the early lows and the S&P 500 now trades higher by 0.2%. The index has been locked between technical levels as the opening rally was short-circuited just after the S&P regained its 50-day moving average (1656/1657). The subsequent slide pushed the index below its 100-day average (1642/1643) where stocks were able to find support. With the S&P back in positive territory, the index is once again testing its 50-day average.

The utilities sector continues to lead (+1.0%) and energy (+0.5%) follows closely as crude oil trades up 1.4% at $109.93 per barrel. Outside of these two groups, only the tech sector (+0.3%) trades slightly ahead of the broader market.DJ30 -1.62 NASDAQ +6.08 SP500 +3.40 NASDAQ Adv/Vol/Dec 1176/588.6 mln/1183 NYSE Adv/Vol/Dec 1809/197.2 mln/1008

10:30 am : Commodities are mixed to mostly higher this morning following jobs numbers, Syria concerns and comments from President Obama.

Following the jobs numbers, precious metals spiked higher. Gold popped almost $30/oz, while silver almost popped $0.90/oz. In current trade, gold and silver remains near session highs. Dec gold is +1.0% at $1387.20/oz, Dec silver is +2.6% at $23.87/oz.

Crude oil is higher today and is currently near its session high given the ongoing concerns with Syria. Oct crude oil is now +1.7% at $110.17/barrel.

Natural gas sold off earlier this morning and is now -0.6% at $3.55/MMBtu.DJ30 -74.79 NASDAQ -12.07 SP500 -4.01 NASDAQ Adv/Vol/Dec 735/454.5 mln/1553 NYSE Adv/Vol/Dec 1368/159 mln/1422

10:05 am : The major averages continue to hover near their lows with Russian President Putin's comments weighing on equities. The Russian president said his country will assist Syria in the event of an external attack. However, it should be noted Russia and Syria are long-standing allies and Russia has been providing weapons to the Middle Eastern country for years.

Similar to stocks, the Dollar Index is on its lows (82.12, -0.51). Meanwhile, crude oil trades just below its session high of $109.44 per barrel.DJ30 -125.51 NASDAQ -30.47 SP500 -11.18 NASDAQ Adv/Vol/Dec 571/303.7 mln/1687 NYSE Adv/Vol/Dec 1071/115.3 mln/1678

09:50 am : Equities climbed at the open with all ten sectors contributing to the early advance, but the S&P 500 ran into resistance at its 50-day moving average (1658/1659). The retreat coincided with headlines from the G-20 Summit in Russia where Russian President Vladimir Putin said his country will assist Syria if an external attack occurs.

The Dollar Index fell to its lows (-0.6%, 82.11) while crude oil ticked to fresh highs at $109.73 per barrel.

At this time, the utilities sector (+0.6%) is the lone advancer as the retreat in yields contributes to its strength. Treasuries rallied following today's weaker-than-expected August jobs report, which the bond market viewed as not strong enough to support a tapering decision in the near term. The benchmark 10-yr yield is lower by 11 basis points at 2.88%.DJ30 -106.30 NASDAQ -22.73 SP500 -9.10 NASDAQ Adv/Vol/Dec 747/195.1 mln/1434 NYSE Adv/Vol/Dec 1225/82.8 mln/1480

09:15 am : [BRIEFING.COM] S&P futures vs fair value: +5.80. Nasdaq futures vs fair value: +9.00. With 15 minutes to go before the start of today's session, equity futures signal a higher open. The S&P 500 futures hold a gain of 0.4% after jumping to pre-market highs in reaction to today's disappointing August nonfarm payrolls report.

August nonfarm payrolls increased by 169,000, which was below the 177,000 expected by the Briefing.com consensus. More notably, July payrolls were revised down nearly 36% to 104,000 from 162,000. The unemployment rate ticked down to 7.3% from 7.4%, but once again, that was the result of a drop in the labor force participation rate to 63.2%. This represents the lowest rate since August 1978. The one bright spot could be found in aggregate income, which increased 0.6%.

The early reaction in equity futures and the bond market (10-yr yield -10 bps at 2.90%) suggests participants believe this report lowers the probability that the Fed will lower the pace of its asset purchases at the upcoming September 17/18 policy meeting.

Crude oil and gold jumped to pre-market highs in reaction to the data. Crude trades higher by 1.1% at $109.56 per barrel and gold futures trade up 0.6% at $1381.10 per troy ounce.

09:01 am : [BRIEFING.COM] S&P futures vs fair value: +8.50. Nasdaq futures vs fair value: +13.70. The S&P 500 futures hover near their highs with a gain of 0.6%. Futures jumped to their best levels of pre-market action after participants viewed the disappointing August nonfarm payrolls report as not strong enough to support lowering the pace of asset purchases in the immediate-term.

Asian markets ended mixed with China's Shanghai Composite adding 0.8% while Japan's Nikkei fell 1.5% as USDJPY slipped about 50 pips into the 99.65 area. In addition, equities were pressured by confirmation of additional leaks of radioactive water at Fukushima and South Korea expanding its ban on Japanese seafood products due to contamination concerns. Separate reports suggesting Madrid is likely to overtake Tokyo in the 2020 Olympic bid may have also contributed to the weakness. Economic data was limited as Japan's Leading Index ticked up to 107.8 from 107.2 (107.9 expected) and Australia's AIG Construction Index ticked down to 43.7 from 44.1.

In Japan, the Nikkei closed lower by 1.5% as Tokyo Electric Power Co fell 2.4%. Consumer names were also weak with Fast Retailing down 3.7%. On the upside, technology names Dainippon Screen Manufacturing and Nippon Electric Glass both posted gains near 1.5% apiece.
Hong Kong's Hang Seng added 0.1% as financials and energy names outperformed. China Coal Energy gained 2.7% and HSBC advanced 1.1%. Retailer Li & Fung led to the downside with a loss of 2.3%.
In China, the Shanghai Composite gained 0.8% as financials outperformed. China Life Insurance added 0.5% and Bank of Communications surged 3.0%.

Major European indices were little changed before the U.S. nonfarm payrolls report sent the indices to their highs. Portugal has returned to the headlines with its benchmark 10-yr yield s climbing to 7.04% as the upcoming troika review is expected to show the need for additional bailout funds for the struggling sovereign. In other news, Moody's has raised its outlook on the German banking sector to 'Stable' from 'Negative.' Economic data was plentiful. Germany reported a trade surplus of EUR14.5 billion (EUR16.1 billion expected, EUR15.8 billion prior). France reported a trade deficit of EUR5.1 billion (-EUR4.6 billion forecast, -EUR4.5 billion prior) and a government budget deficit of EUR80.8 billion (-EUR63.0 billion expected, -EUR59.3 billion prior). Lastly, consumer confidence climbed to 84 from 82 (83 consensus). Great Britain's Halifax House Price Index ticked up 0.4% month-over-month (0.7% expected, 0.9% prior), industrial production was unchanged month-over-month (0.1% forecast, 1.3% previous), and manufacturing production increased 0.2% month-over-month (0.3% consensus, 2.0% prior). In addition, the country reported a trade deficit of GBP9.85 billion (-GBP8.15 billion expected, -GBP8.17 billion prior). Spanish industrial production fell 1.4% year-over-year (-1.5% consensus, -2.2% prior).

Germany's DAX is higher by 0.4% as utilities lead. E.ON and RWE sports respective gains of 5.9% and 7.3% after indications the government could raise limits on subsidies for renewable energy.
Great Britain's FTSE trades up 0.5%. Tullow Oil leads the way with a gain of 3.2% while miners trade mostly lower. Anglo American and Randgold Resources are lower by 0.3% and 0.9%, respectively.
France's CAC holds a gain of 0.5% with financials showing strength. BNP Paribas and Societe Generale are both up near 1.5%.

08:33 am : [BRIEFING.COM] S&P futures vs fair value: +8.00. Nasdaq futures vs fair value: +15.50. The S&P 500 futures trade higher by 0.5% following today's weaker-than-expected August jobs data.

August nonfarm payrolls came in at 169K versus the 177K expected by the Briefing.com consensus. Nonfarm private payrolls added 152K against the 180K consensus. The unemployment rate was reported at 7.3%, while the Briefing.com consensus expected the rate to hold at 7.4%.

Hourly earnings ticked up 0.2%, in-line with the Briefing.com consensus. Average workweek was reported at 34.5, also in-line with the consensus.

07:57 am : [BRIEFING.COM] S&P futures vs fair value: +2.00. Nasdaq futures vs fair value: +7.00. U.S. equity futures hold modest gains with the S&P 500 futures up 0.2%. Index futures are likely to display some volatility coinciding with the 8:30 ET release of August nonfarm payrolls. The Briefing.com consensus expects the reading to come in at 177,000.

Looking at overseas developments:

Asian markets ended mixed. Hong Kong's Hang Seng +0.1%, China's Shanghai Composite +0.8%, and Japan's Nikkei -1.5% as USDJPY slipped about 50 pips into the 99.65 area.
Economic data was limited:
Japan's Leading Index ticked up to 107.8 from 107.2 (107.9 expected).
Australia's AIG Construction Index ticked down to 43.7 from 44.1.
In news:
In addition to the strengthening yen, Japanese equities were pressured by confirmation of additional leaks of radioactive water at Fukushima and South Korea expanding its ban on Japanese seafood products due to concerns about contamination. Reports suggesting Madrid is likely to overtake Tokyo in the 2020 Olympic bid may have also contributed to the weakness.
In China, the Banking Regulatory Commission said the country's small and micro companies are increasingly more tolerant of bad loans.

Major European indices are little changed. Great Britain's FTSE -0.1%, Germany's DAX -0.1%, France's CAC -0.1%. Elsewhere, Italy's MIB +0.1%, and Spain's IBEX +0.4%.
In regional economic data:
Germany reported a trade surplus of EUR14.5 billion (EUR16.1 billion expected, EUR15.8 billion prior).
France reported a trade deficit of EUR5.1 billion (-EUR4.6 billion forecast, -EUR4.5 billion prior) and a government budget deficit of EUR80.8 billion (-EUR63.0 billion expected, -EUR59.3 billion prior). Lastly, consumer confidence climbed to 84 from 82 (83 consensus).
Great Britain's Halifax House Price Index ticked up 0.4% month-over-month (0.7% expected, 0.9% prior), industrial production was unchanged month-over-month (0.1% forecast, 1.3% previous), and manufacturing production increased 0.2% month-over-month (0.3% consensus, 2.0% prior). In addition, the country reported a trade deficit of GBP9.85 billion (-GBP8.15 billion expected, -GBP8.17 billion prior).
Spanish industrial production fell 1.4% year-over-year (-1.5% consensus, -2.2% prior).
Looking at news:
Moody's has raised its outlook on the German banking sector to 'Stable' from 'Negative.'
Portugal's benchmark 10-yr yield has climbed to 7.04% as the upcoming troika review is expected to show the need for additional bailout funds for the struggling sovereign.

In U.S. corporate news:

Ambarella (AMBA 16.88, +1.54) is +10.0% after beating on earnings and revenue.
Quicksilver (ZQK 6.25, +1.05) is +20.2% after reporting a bottom-line beat on below-consensus revenue.
Smith & Wesson (SWHC 10.90, -0.58) is -5.1% after its cautious second-quarter guidance overshadowed its earnings and revenue beat.
VeriFone (PAY 22.55, +1.83) is +8.8% following its better-than-expected earnings and revenue.

In addition to the aforementioned August nonfarm payrolls, nonfarm private payrolls, unemployment rate, hourly earnings, and the average workweek will all be reported at 8:30 ET.

06:31 am : [BRIEFING.COM] S&P futures vs fair value: -1.00. Nasdaq futures vs fair value: flat.

06:31 am : Nikkei...13860.81...-204.00...-1.50%. Hang Seng...22621.22...+23.30...+0.10%.

06:31 am : FTSE...6523.39...-9.10...-0.10%. DAX...8214.74...-20.20...-0.20%.

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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