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 Post subject: October 3rd Thursday Trade Results - Profit $102.50
PostPosted: Thu Oct 03, 2013 9:35 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
Note: The above p/l statement does not show that today was a losing trading day because of the commissions via the fees transaction statement (not shown).

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ ($210.00) dollars or -2.10 points, Emini ES ($ES_F) futures @ $312.50 dollars or +6.25 points, Light Crude Oil CL ($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 @ $102.50 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=122&t=1618

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=221&t=2029

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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.

Dow Drops Sharply and Closes Below 15,000

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

NEW YORK (CNNMoney)
A sell-off in stocks accelerated Thursday, as major indexes fell 1% while Washington remains paralyzed and the nation approaches the deadline for raising the U.S. debt ceiling.

The Dow ended below 15,000, a psychologically important level, for the first time in almost a month. The Nasdaq and S&P 500 also declined sharply.

Meetings at the White House between congressional leaders and President Obama have failed to produce a breakthrough. Thursday marked Day 3 of the government shutdown, and Washington gave no sign of preventing a fourth. It's making investors jittery. CNNMoney's Fear & Greed index even briefly slid into Extreme Fear mode.

Thursday's losses also meant the Dow and S&P 500 have dropped for nine of the past 11 trading days,

"I think probably at the beginning of the week people didn't think it would take so long to sort out," said David Jones, chief market strategist at IG Markets in London. "The fact that it's dragged on is making people a little bit nervous."

Doug DePietro, an equity trader at investment bank Evercore, noted that the S&P 500 also broke below its 50-day moving average, a key technical level that triggered additional selling by institutional investors.

"With each day that goes by without a deal, confidence continues to wane," DePietro said.

More troubling for Wall Street is the risk that the political stalemate could prevent the debt ceiling from being raised, meaning the government may not be able to pay all its bills later this month.

What's moving: Tesla's stock ended 4% lower Thursday after a fiery crash near Seattle, Wash., sparked concerns about the safety of the car maker's Model S sedan. Tesla (TSLA) said the fire happened after the car crashed into a "large metallic object."

On StockTwits, trader MikeCorso showed his support for the company: "6 yrs, almost 100 mil miles driven without a fire -- ISOLATED INCIDENT. And the car warned the driver as designed. PS- I own a Model S," he wrote

Meanwhile, MercenaryJack wryly commented that "when you hear '$TSLA is on fire,' this ain't what longs want to see."

Shares of Angie's List (ANGI) lost more than 17% on concerns that the customer review site is hitting a rough patch. The company's chief technology officer left abruptly last week and now the website has drastically reduced its membership prices. Other Internet stocks that have been red hot lately, such as Priceline (PCLN), Yahoo (YHOO, Fortune 500), Netflix (NFLX) and Facebook (FB), pulled back Thursday too.

* Video - Tech stocks partying like its 1999

As racernic put it: "Something wrong with my screen. $PCLN red. tap tap tap. nope still red. hmmm."

Shares of Taser (TASR), maker of the eponymous stun gun, ended the day down 10%. The company, citing a "tight budgetary environment," has cut in half the price of its portable Axon Flex camera, used by police officers.

"$TASR. Yikes. Getting zapped today," said Slingshot.

* Countdown to a debt ceiling default

Herbalife (HLF) shares finished 7% lower, even though hedge fund manager Bill Ackman disclosed he recently restructured his short position on the nutritional supplement company to lessen his risk. The stock has more than doubled this year, making Ackman's bet a huge loser on paper.

United Technologies (UTX, Fortune 500) edged lower after the defense contractor announced that it would likely furlough 2,000 workers starting next week, due to the government shutdown. About 800,000 federal employees have already been furloughed.

Asian and European markets ended mixed.

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4:20 pm : The S&P 500 fell 0.9% as the government shutdown continued for the third day without any strong indications a resolution to the stalemate may be on the horizon.

Even though stocks appeared largely unconcerned during the first two days of the shutdown, today's session featured a reminder from the Treasury, saying the consequences of a default could be worse than the events of 2008.

Equities retreated throughout the morning before finding support in the early afternoon following an article in The New York Times indicating Speaker of the House John Boehner told Republicans he would not allow a default to take place. The story was followed by a statement from the Speaker's office, which said this has always been Mr. Boehner's stance.

Thanks to the rebound, the S&P was able to erase a third of its losses, but could not close above its 50-day moving average (1680). The index endured an afternoon slip in reaction to shots fired near the U.S. Capitol. The scare caused a 30-minute lockdown of the Capitol building, and the suspect was reported dead on the scene.

All ten sectors ended in the red with influential groups like consumer discretionary (-1.0%), industrials (-1.1%), and technology (-1.0%) leading to the downside.

Notably, industrials finished near the bottom of the leaderboard for the second consecutive day. Like yesterday, defense contractors weighed on the sector as the PHLX Defense Index fell 1.0%.The largest index component, General Electric (GE 24.10, -0.23), also lost 1.0%.

The Dow Jones Transportation Average also underperformed, slumping 1.1%, even as airlines displayed relative strength. United Continental (UAL 31.65, +0.72) settled higher by 2.3%.

Elsewhere, the technology sector saw its top components, Apple (AAPL 483.41, -6.15), Google (GOOG 876.09, -11.90), and Qualcomm (QCOM 67.11, -0.57), lose between 0.8% and 1.4% while chipmakers outperformed. The PHLX Semiconductor Index shed 0.3%.

Countercyclical groups ended mixed as consumer staples (-0.5%) and telecom services (-0.4%) finished ahead of the S&P while health care (-1.0%) and utilities (-1.2%) lagged.

Treasuries registered modest gains, and the benchmark 10-yr yield slipped two basis points to 2.61%.

Today's trading volume was a bit below average as 703 million shares changed hands on the floor of the NYSE.

The weekly initial claims level increased to 308,000 from an upwardly revised 307,000 (from 305,000) while the Briefing.com consensus expected a rise to 315,000. After a couple weeks of unreliable claims data, the initial claims level has settled at a little over 300,000. This marks a vast improvement from August when claims were around 330,000.

Normally, this level of claims would suggest a strong gain in nonfarm payrolls. However, over the last couple of months, the strengthening in the claims level had no effect on payroll growth. Employers appear to be content with their workforce; hence, we have seen the drop in layoffs, but not a corresponding spike in hiring activity.

Separately, the September ISM Non-Manufacturing Index fell to 54.4 from 58.6 while the Briefing.com consensus expected the index to drop to 57.2. Last month's reading of the ISM Non-Manufacturing Index was the highest since December 2005 and was expected to pullback in September. The size of the pullback; however, was very unusual.

The non-manufacturing index normally lacks significant monthly volatility and moves in a nice smooth trend. September marked a departure as the index dropped by an unusually large 4.2 points. That was the biggest decline since November 2008. The index has moved at least 4.2 points in a single month only nine times since its inception in 1997.

Tomorrow's September nonfarm payrolls report will not be released due to the ongoing government shutdown.DJ30 -136.66 NASDAQ -40.68 SP500 -15.21 NASDAQ Adv/Vol/Dec 659/1.79 bln/1859 NYSE Adv/Vol/Dec 642/703.3 mln/2378

3:35 pm : Commodities ended the day mostly lower.

Crude oil futures sold off in the last few minutes of pit trading, pulling it below $103/barrel. At the end of today's session, Nov crude oil lost $0.79/barrel to $103.29/barrel. Nov natural gas futures declined four cents to $3.50/MMBtu.

Precious metals recovered most of its losses today, but copper ends near session low. Dec gold ended the day $3.60 lower at $1317.10/oz, Dec silver closed $0.15 at $21.77/oz. Dec copper fell five cents to $3.27/lb.
DJ30 -118.39 NASDAQ -38.88 SP500 -13.25 NASDAQ Adv/Vol/Dec 675/1531.5 mln/1832 NYSE Adv/Vol/Dec 651/456 mln/2364

3:00 pm : The S&P 500 trades lower by 0.8% as today's session enters its final hour. Equities spent the day reacting to budget-related news from Washington before reports of shots fired outside of the U.S. Capitol building broke about 30 minutes ago. Subsequent headlines from Reuters indicated one police officer was injured during the shooting, and according to ABC, a female suspect has been reported dead on the scene. In addition, the Capitol lockdown is now over.

With one hour left in the session, the S&P 500 trades right at its 50-day moving average (1680). The index has been flirting with this key technical level throughout the week, but has been able to close above the 50-day average in each of the past three sessions.DJ30 -123.81 NASDAQ -41.50 SP500 -14.38 NASDAQ Adv/Vol/Dec 648/1.39 bln/1849 NYSE Adv/Vol/Dec 622/411.1 mln/2378

2:30 pm : The major averages fell from their recent levels before rebounding in reaction to reports of shots fired outside of the U.S. Capitol. There aren't many details available at this time but the Capitol building has been placed on lockdown.

Treasuries strengthened a bit in reaction to the report, but were able to retrace a portion of the move. The benchmark 10-yr yield is lower by one basis point at 2.61%.DJ30 -115.41 NASDAQ -39.45 SP500 -13.72 NASDAQ Adv/Vol/Dec 603/1.30 bln/1882 NYSE Adv/Vol/Dec 587/381.1 mln/2406

2:00 pm : The major averages have continued their afternoon rebound, and the S&P 500 has now cut its losses in half. Equities have been reacting to headlines from Washington throughout the day, but not much has changed since this morning as Democrats and Republicans remain divided.

The New York Times story, which indicated Speaker Boehner has provided Republicans with an assurance that he would not allow a default to take place, contributed to a notable reversal in the CBOE Volatility Index (VIX 17.15, +0.55). The near-term volatility measure is higher by 3.1% after being up more than 10% in early action.DJ30 -106.01 NASDAQ -32.65 SP500 -11.47 NASDAQ Adv/Vol/Dec 622/1.21 bln/1861 NYSE Adv/Vol/Dec 638/344.6 mln/2328

1:30 pm : The rush is on in the media to report the latest headline pertaining to the thought processes on Capitol Hill regarding the budget and the debt ceiling. That rush has created some whippy trading action of late, but a relatively better bias than before since the bulk of the headlines sound at least a little promising.

The New York Times headline indicating Speaker Boehner told Republicans he will not let a default happen is catching some added attention. What isn't getting as much attention is the body of the article where it says a spokesman for Boehner said the Speaker has "...also been clear that a 'clean' debt hike cannot pass the House. That's why the president and Senate Democrats should drop their 'no negotiations' stance..."

In any event, the market is looking at this latest update as a glass-is-half-full headline and is working its way off session lows. Every sector in the S&P 500 is still in the red, yet there isn't a single one that is down more than 1.0%. DJ30 -104.62 NASDAQ -34.23 SP500 -11.72 NASDAQ Adv/Vol/Dec 557/1.11 bln/1918 NYSE Adv/Vol/Dec 588/316 mln/2374

1:00 pm : At midday, the S&P 500 trades lower by 1.0%.

The major averages have spent the first-half of the session in a steady decline as the government shutdown entered its third day after yesterday's White House meeting between President Obama and Congressional leaders failed to bring the two sides closer to an agreement.

Although stocks held up well through the first two days of the shutdown, anxiety is visible in the markets today after the Treasury reminded participants that consequences of a default could be worse than the events of 2008.

After its opening slide, the S&P attempted to find support near its 50-day moving average (1680), but fell below that level as sellers remained in control. Equities ticked up off their lows in the past 30 minutes after a New York Times story indicated House Speaker Boehner told Republicans he would not allow a default to take place. Despite the recent bounce, the major indices continue to hold the bulk of their losses.

All ten sectors trade in negative territory with influential groups like energy, financials, industrials, and technology weighing on the broader market. The four sectors hold losses between 1.1% and 1.3% with industrials leading to the downside.

The industrial sector is the weakest performer for the second consecutive day as defense contractors lag. The PHLX Defense Index trades down 1.4%, and its largest component, General Electric (GE 24.02, -0.31) sports a loss of 1.3%. Transports also trade broadly lower with the Dow Jones Transportation Average down 1.4%.

Today's steady decline has caused a spike in the CBOE Volatility Index (VIX 17.95, +1.35), which jumped to its highest level since late June.

Treasuries hold modest gains with the 10-yr yield down two basis points at 2.60%.

The weekly initial claims level increased to 308,000 from an upwardly revised 307,000 (from 305,000) while the Briefing.com consensus expected a rise to 315,000. After a couple weeks of unreliable claims data, the initial claims level has settled at a little over 300,000. This marks a vast improvement from August when claims were around 330,000.

Normally, this level of claims would suggest a strong gain in nonfarm payrolls. However, over the last couple of months, the strengthening in the claims level had no effect on payroll growth. Employers appear to be content with their workforce; hence, we have seen the drop in layoffs, but not a corresponding spike in hiring activity.

Separately, the September ISM Non-Manufacturing Index fell to 54.4 from 58.6 while the Briefing.com consensus expected the index to drop to 57.2. Last month's reading of the ISM Non-Manufacturing Index was the highest since December 2005 and was expected to pullback in September. The size of the pullback; however, was very unusual.

The non-manufacturing index normally lacks significant monthly volatility and moves in a nice smooth trend. September marked a departure as the index dropped by an unusually large 4.2 points. That was the biggest decline since November 2008. The index has moved at least 4.2 points in a single month only nine times since its inception in 1997.DJ30 -135.70 NASDAQ -46.83 SP500 -16.36 NASDAQ Adv/Vol/Dec 468/1.02 bln/2004 NYSE Adv/Vol/Dec 462/286.9 mln/2492

12:30 pm : The S&P 500 has widened its loss to 1.3% as broad weakness persists. Meanwhile, the Nasdaq and Russell 2000 lag with losses of 1.6% apiece after outperforming the S&P during the past several weeks.

While stocks spent the first three hours in a steady decline, the CBOE Volatility Index (VIX 18.59, +1.99) has been climbing throughout the session. The near-term volatility measure has added more than 12.5% today as it hovers at its highest level since June 24.DJ30 -159.41 NASDAQ -52.88 SP500 -20.00 NASDAQ Adv/Vol/Dec 449/923.9 mln/1999 NYSE Adv/Vol/Dec 397/259.9 mln/2556

12:00 pm : The major averages have resumed their retreat after the S&P 500 was unable to find support at its 50-day moving average, which sits in the 1680 area. As a result, the benchmark index has dropped to a fresh low while slashing through the key technical level.

The S&P has been flirting with its 50-day average for the past three sessions with the first test coming on September 30. After a modest bounce, the index dropped back to the 50-day average yesterday, but was able to rally off this level. Today; however, the S&P has yet to find support.

Treasuries have built on their early strength, and the benchmark 10-yr yield is now lower by three basis points at 2.59%.DJ30 -169.42 NASDAQ -54.40 SP500 -21.01 NASDAQ Adv/Vol/Dec 463/800.2 mln/1963 NYSE Adv/Vol/Dec 428/227.2 mln/2489

11:30 am : The S&P 500 continues to languish near its lows as four sectors (financials, industrials, materials, and telecom services) trade with losses larger than 1.0% apiece.

So far, only the health care sector (-0.7%) has managed to tick up off its low while the remaining groups trade at their lowest levels of the session. The CBOE Volatility Index (VIX 17.82, +1.22) is one few areas of strength as the near-term volatility measure trades at its highest level since late June.

Also of note, the Dollar Index (79.74, -0.16) has retreated through the first two hours of the session after being unable to break into positive territory in overnight action. Given today's decline, the Index now trades at its lowest level since April.DJ30 -146.51 NASDAQ -37.66 SP500 -17.35 NASDAQ Adv/Vol/Dec 524/677.1 mln/1868 NYSE Adv/Vol/Dec 522/195.3 mln/2344

11:00 am : The major averages have continued their retreat, and the S&P 500 now trades lower by 0.9%. All ten sectors remain in negative territory with financials (-1.0%), industrials (-1.3%), and utilities (-1.3%) leading to the downside. Meanwhile, the top-performing sector, telecom services, trades lower by 0.5%.

Equity markets held up relatively well through the first two days of the government shutdown; however, today's session has revealed some anxiety among investors. In addition, the Treasury Department's warning about the implications of a potential default may have also contributed to the weakness.

At this time, President Obama is making a public push for Congress to pass a clean continuing resolution bill after calling the shutdown a 'reckless Republican action.'

Treasuries are on their highs with the benchmark 10-yr yield down two basis points at 2.60%.DJ30 -122.01 NASDAQ -31.52 SP500 -14.45 NASDAQ Adv/Vol/Dec 509/578.5 mln/1836 NYSE Adv/Vol/Dec 561/166.2 mln/2281

10:35 am : Commodities are certainly volatile this morning. Gold and silver rallied in recent trade, but neither made it out of negative territory. Dec gold is -0.5% at $1314/oz and Dec silver is -1.3% at $21.61/oz.

Copper, meanwhile, just extended losses and hit a new LoD. Dec copper is now -1.5% at $3.27/lb.

Natural gas futures just sold off to a new session low of $3.49/MMBtu following inventory data and is now -1.1% at $3.50/MMBtu.

Crude oil futures have been choppy this morning, trading back and forth above and below $104/barrel. In current trade, Nov crude oil is -0.6% at $103.53/barrel.

DJ30 -127.22 NASDAQ -35.84 SP500 -15.33 NASDAQ Adv/Vol/Dec 454/422.7 mln/1821 NYSE Adv/Vol/Dec 536/132 mln/2255

10:00 am : The S&P 500 (-0.6%) has continued its retreat off the opening levels.

The September ISM Services Index was reported at 54.4, below the 57.2 forecast by the Briefing.com consensus, and down from the August reading of 58.6.

Treasuries spiked to highs in reaction to the report, pressuring the benchmark 10-yr yield lower by one basis point to 2.61%.DJ30 -86.57 NASDAQ -15.09 SP500 -10.01 NASDAQ Adv/Vol/Dec 655/236.4 mln/1529 NYSE Adv/Vol/Dec 704/83.7 mln/2007

09:50 am : The S&P 500 (-0.4%) began the session in negative territory with all ten sectors registering opening losses, and the utilities space (-1.2%) leading to the downside. In addition, a pair of cyclical groups also trail behind the broader market as financials and industrials trade with losses close to 0.5% apiece.

With early weakness abound, the CBOE Volatility Index (VIX 16.89, +0.29) trades higher by 1.8% as participants adjust their near-term volatility expectations.

Treasuries continue to hold modest losses with the benchmark 10-yr yield up one basis point at 2.63%.

The September ISM Services report will cross the wires at 10:00 ET.DJ30 -70.07 NASDAQ -7.61 SP500 -6.92 NASDAQ Adv/Vol/Dec 764/160.5 mln/1342 NYSE Adv/Vol/Dec 816/63.4 mln/1838

09:15 am : [BRIEFING.COM] S&P futures vs fair value: -4.00. Nasdaq futures vs fair value: -3.80. U.S. equity futures continue to trade modestly below fair value as today's session sets up for a lower open. Yesterday, equity markets spiked right before the closing bell, but the last-minute gains were promptly surrendered after the session concluded. Futures then saw additional weakness after President Obama's White House meeting with Congressional leaders did not put the two sides any closer to an agreement.

Headlines from Washington are expected throughout the session as the government shutdown enters its third day.

Treasuries are little changed going into the open with the benchmark 10-yr yield up one basis point at 2.63%.

08:55 am : S&P futures vs fair value: -4.60. Nasdaq futures vs fair value: -4.50. The S&P 500 futures trade about five points below fair value.

Markets across most of Asia booked gains as only Japan's Nikkei (-0.1%) and Singapore's Straits Times (-0.3%) ended in the red. The region was boosted by the improvement in China's Non-Manufacturing PMI (55.4 actual versus 53.9 previous), which helped propel Hong Kong's Hang Seng, India's Sensex, and Taiwan's Taiex to gains of at least 1%. Markets on mainland China remained closed for Golden Week while South Korea's Kospi was shuttered for National Foundation Day of Korea. Data from the rest of the region was limited as Hong Kong's retail sales 7.2% year-over-year and Thai consumer confidence slipped to 77.9 (79.3 previous).

Japan's Nikkei shed 0.1% amid a quiet trade. Heavyweight Softbank added 4.0%, finishing at its best level in more than 13 years while becoming the second heaviest weighted name in the Nikkei. Elsewhere, shares of Tokyo Electric Power fell 4.8% after a new leak was discovered at its Fukushima Daiichi plant.
In Hong Kong, the Hang Seng finished higher by 1.0% as shares were boosted by the Chinese Non-Manufacturing PMI data. Commodity-related names posted solid gains as gold miner Zhaojin Mining rose 1.6% and oil explorer Cnooc tacked on 2.2%. Meanwhile, casino shares were bolstered by solid September revenues with Sands China adding 3.9%.
In China, the Shanghai Composite was closed.

Major European indices trade in mixed fashion but their moves have been limited to less than 0.5% in either direction. In news of note, European Central Bank President Mario Draghi said he has asked an ECB panel to look into ways of improving bank liquidity. However no target date has been set for introducing a new plan. Participants received a fair share of data as Eurozone retail sales rose 0.7% month-over-month (0.2% expected, 0.5% prior) and the Services PMI ticked up to 52.2 from 52.1 (52.1 forecast). Germany's Services PMI slipped to 53.7 from 54.4 (54.4 expected). Great Britain's Services PMI ticked down to 60.3 from 60.5 (60.0 forecast). Separately, the Halifax House Price Index rose 0.3% month-over-month (0.5% expected, 0.3% prior) while the year-over-year reading increased 6.2% (6.4% consensus, 5.4% last). French Services PMI rose to 51.0 from 50.7 (50.7 expected). Italy's Services PMI climbed to 52.7 from 48.8 (49.1 forecast). Elsewhere, Spain's Services PMI fell to 49.0 from 50.4 (51.0 consensus).

In France, the CAC is lower by 0.3% as industrials weigh. Alstom and Schneider Electric hold respective losses of 3.9% and 2.5%. Oil explorer Technip is the top index performer with a gain of 1.7%.
Germany's DAX trades flat amid a choppy trade. Chemical producers K+S and Linde lead with gains close to 1.2% apiece. Meanwhile, financials lag with Allianz and Commerzbank down 0.4% and 1.9%, respectively.
Great Britain's FTSE trades higher by 0.3% as insurers outperform. Aviva is higher by 1.9% and RSA Insurance Group sports a gain of 1.1%. Miners trade mostly lower with Fresnillo and Randgold Resources both down near 2.0%.

08:32 am : [BRIEFING.COM] S&P futures vs fair value: -7.60. Nasdaq futures vs fair value: -10.80. The S&P 500 futures trade lower by 0.2%.

The latest weekly initial jobless claims count totaled 308,000, which was lower than the 315,000 that had been expected by the Briefing.com consensus. Today's tally was slightly above the revised prior week count of 307,000. As for continuing claims, they rose to 2.925 million from 2.821 million.

07:59 am : [BRIEFING.COM] S&P futures vs fair value: -7.70. Nasdaq futures vs fair value: -9.80. U.S. equity futures trade modestly lower with the S&P 500 futures off 0.2%.

Looking at overnight developments:

Asian markets ended on a mixed note. Japan's Nikkei -0.1%, Hong Kong's Hang Seng +1.0%, and China's Shanghai Composite remained closed for Golden Week.
In regional economic data:
China's Non-Manufacturing PMI rose to 55.4 from 53.9.
Japan's foreign bonds buying report indicated net purchases in the amount of JPY672.10 billion (JPY175.60 billion prior).
Australia's AIG Services Index increased to 47.1 from 39.0.
Hong Kong's retail sales rose 8.1% year-over-year (10.5% expected, 9.5% prior).
Looking at news:
HSBC raised its GDP forecast for China to 7.7% from 7.4%.

Major European indices are mixed. France's CAC -0.3%, Great Britain's FTSE +0.3%, and Germany's DAX is unchanged.
Participants received a fair share of data:
Eurozone retail sales rose 0.7% month-over-month (0.2% expected, 0.5% prior) and the Services PMI ticked up to 52.2 from 52.1 (52.1 forecast).
Germany's Services PMI slipped to 53.7 from 54.4 (54.4 expected).
Great Britain's Services PMI ticked down to 60.3 from 60.5 (60.0 forecast). Separately, the Halifax House Price Index rose 0.3% month-over-month (0.5% expected, 0.3% prior) while the year-over-year reading increased 6.2% (6.4% consensus, 5.4% last).
French Services PMI rose to 51.0 from 50.7 (50.7 expected).
Italy's Services PMI climbed to 52.7 from 48.8 (49.1 forecast).
Spain's Services PMI fell to 49.0 from 50.4 (51.0 consensus).
In news:
European Central Bank President Mario Draghi said he has asked an ECB panel to look into ways of improving bank liquidity. However no target date has been set for introducing a new plan.

In U.S. corporate news:

Constellation Brands (STZ 60.50, +2.24) is +3.8% after beating on earnings.
Micron (MU 17.81, +0.14) is +0.8% after Credit Suisse raised its target for the stock to $25 from $20.

The September Challenger Job Cuts report showed a 19.1% year-over-year increase in planned layoffs.

Weekly initial claims will be reported at 8:30 ET and the September ISM Services report will cross the wires at 10:00 ET. The August factory orders report will not be released today due to the government shutdown.

06:52 am : [BRIEFING.COM] S&P futures vs fair value: -10.00. Nasdaq futures vs fair value: -14.00.

06:52 am : Nikkei...14157.25...-13.20...-0.10%. Hang Seng...23214.40...+229.90...+1.00%.

06:52 am : FTSE...6452.02...+14.40...+0.20%. DAX...8622.64...-6.80...-0.10%.

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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