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 Post subject: November 4th Monday Trade Results - Profit $1360.00
PostPosted: Tue Nov 05, 2013 6:24 am 
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Joined: Sat Jan 10, 2009 1:06 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)
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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 @ $510.00 dollars or +5.10 points, Emini ES ($ES_F) futures @ $1,250.00 dollars or +25.00 points, Light Crude Oil CL ($CL_F) futures @ $0.00 dollars or +0.00 points, Gold GC ($GC_F) futures @ ($400.00) dollars or -4.00 points and EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks. Total Profit @ $1,360.00 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=123&t=1642

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=223&t=2061

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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.

Stocks End Higher, But BlackBerry Crumbles

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

NEW YORK (CNNMoney)
The market has been riding a huge wave of momentum, and investors continued to push stocks higher at the start of the week.

The Dow Jones industrial average. S&P 500, and Nasdaq ended Monday with modest gains.

As the broader market edged slightly higher, there were some high-profile public companies making news.

BlackBerry (BBRY) shares tumbled more than 16% after the company said it has abandoned its plan to sell itself.

Instead, BlackBerry is receiving an investment of $1 billion from majority shareholder Fairfax Financial. The troubled Canadian smartphone maker also said that Thorsten Heins is stepping down as CEO, and that John Chen, former CEO of Sybase, will serve as interim chief. Chen was also appointed executive chair of BlackBerry's board of directors.

StockTwits traders noted that this could mean more bad news ahead for BlackBerry.

"$BBRY cost cutting, reducing workforce and eliminating products that don't make money are next," said Bondstocker.

While BlackBerry is still trying to turn its business around, traders noted that the company's board will have to give Chen some extra room to maneuver.

"$BBRY BBRY BOD must give Chen the latitude for change," Getmydrift.

Meanwhile, shares of J.C. Penney (JCP, Fortune 500) continued to rebound following last week's 20% advance. Traders on StockTwits were mostly bullish on the troubled retailer's future.

"$JCP beautiful stores and great merchandise at good prices=jcp is here to stay and 13.50 is coming soon," said topsecret.

GrandMaster said he believes J.C. Penney is a good trade because "many ill-informed" investors are still betting against the company. He expects more analysts will upgrade the stock soon.

Shares of Tesla (TSLA) surged 8%. The stock was hit hard in October on concerns about its valuation. But investors are hoping the electric car maker will report strong earnings after the closing bell Tuesday.

#Waiting for Twitter IPO: Twitter raised the price range for its initial public offering to $23 to $25 per share, from a previous range of $17 to $20. This is a sign of strong demand for Twitter's IPO. At the high end of the new range, Twitter would be valued at $13.6 billion.

Twitter is expected to make its stock market debut later this week. The social network's IPO was a hot topic on StockTwits, especially in how it compares to Facebook (FB, Fortune 500) as an investment.

"I don't use $FB. Love $TWTR," said MistraKnowItAwl. "But until it generates a damned profit, why would I invest? I mean, I love oxygen too. Not paying for it."

Another traded noted that Twitter will likely be a risky investment in its early life as a public company.

"$TWTR Currently unable to monetize their platform, this will be a high risk play," lieberman said. "As was the $FB IPO. Could be a great day trade though."

* How much juice does the market have?

Later in the week, investors will get their first look at U.S. gross domestic product for the third quarter. The GDP report, due out Thursday, does not include the impact that the government shutdown had on the economy.

But on Friday, the government will release the jobs report for October. That report could show softness in hiring because of uncertainty related to the shutdown and fears of a possible U.S. debt default.

European markets finished with modest gains. London's FTSE 100 gained 0.4%, led by HSBC (HBC) after the global bank reported solid earnings. Asian markets ended lower.

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4:10 pm : The major averages kicked off the new trading week with modest gains as the S&P 500 added 0.4%. The Russell 2000 (+1.1%) outperformed, but its relative strength came after the small cap index struggled to keep pace with the last week's advance in the broader market.

Outside of the notable outperformance among small caps, today's session unfolded in an uneventful fashion. Overseas markets did little to upset the state of affairs as Japan's Nikkei was closed for Culture Day while China's Shanghai Composite ended flat despite its Non-Manufacturing PMI rising to a 14-month high of 56.3 from 55.4.

All ten sectors ended in the green, but only energy (+1.3%) and telecom services (+0.8%) posted gains in excess of 0.4%. Energy was responsible for pacing much of the advance as the sector rallied throughout the session. Meanwhile, crude oil ended little changed at $94.59 per barrel.

The other commodity-linked sector, materials (+0.4%), displayed relative strength as steelmakers rallied in reaction to a Goldman Sachs upgrade of AK Steel (AKS 5.00, +0.40) and U.S. Steel (X 26.91, +1.13). The broader Market Vectors Steel ETF (SLX 49.68, +1.18) ended higher by 2.4%.

Elsewhere, industrials (+0.3%) settled essentially in-line with the broader market, but the underperformance of top sector components like Boeing (BA 132.79, -0.24) and General Electric (GE 26.43, -0.11) overshadowed the strength of transports. The Dow Jones Transportation Average rose 1.2% as 19 of 20 components registered gains. Norfolk Southern (NSC 86.84, -0.16) was the lone decliner, shedding 0.2%.

Although the S&P was able to finish at its session high, it did so without the participation of financials as the sector ended near its flat line.

Three of four countercyclical groups (consumer staples, health care, and utilities) trailed the broader market with staples lagging even after Kellogg (K 62.72, +0.43) reported a bottom-line beat on in-line revenue. In addition, the company announced plans to cut 7.0% of its workforce to reflect a challenging environment.

Treasuries held modest gains throughout the session as the 10-yr yield shed two basis points to 2.60%.

Trading volume was well below average as less than 600 million shares changed hands on the floor of the New York Stock Exchange.

Due to the partial government shutdown, the Census Bureau released the factory orders reports for August and September at the same time. Orders increased 1.7% in September after declining 0.1% in August. July factory orders were revised down from -2.4% to -2.8%. The Briefing.com consensus expected factory orders to increase 1.8% in September and 0.3% in August.

The recent volatility in factory orders was a result of significant, up-and-down monthly moves in aircraft orders. Nondefense aircraft orders increased 57.7% in September after a 5.4% increase in August and a 58.9% decrease in July.

Tomorrow, the October ISM Services report will be released at 10:00 ET.DJ30 +23.57 NASDAQ +14.55 SP500 +6.29 NASDAQ Adv/Vol/Dec 1674/1.74 bln/859 NYSE Adv/Vol/Dec 2013/599.7 mln/964

3:30 pm :

Dec crude oil brushed a session high of $95.11 per barrel in morning pit trade and later dipped into the red and to a session low of $94.43 per barrel. It eventually settled at $94.59 per barrel, or 2 cents below the unchanged line
Dec natural gas traded in the red today, falling as low as $3.41 per MMBtu. It settled at its session high of $3.45 per MMBtu, booking a loss of 1.7%.
Dec gold traded in the black as the dollar index chopped around in negative territory.The yellow metal rose to a session high of $1320.80 per oujce in morning floor trade but lost steam heading into the close. It erased most of the earlier gains and settled just 0.1% higher at $1314.70 per ounce.
Dec silver chopped around slightly below the unchanged line for most of the session. It pulled-back in late afternoon pit action to a session low of $21.69 per ounce and settled with a 0.7% loss at $21.70 per ounce.

DJ30 +5.22 NASDAQ +8.10 SP500 +3.95 NASDAQ Adv/Vol/Dec 1649/1459.1 mln/881 NYSE Adv/Vol/Dec 1903/373 mln/1063

3:05 pm : With one hour remaining in today's session, the S&P 500 trades higher by 0.3%. Although participants received just a handful of quarterly results today, the remainder of the week will feature the final heavy dose of Q3 earnings.

Following today's close, investors will be focusing on earnings from major energy and materials components like Anadarko Petroleum (APC 96.51, +2.12), CF Industries (CF 217.27, +2.33), Rock-Tenn (RKT 109.21, +1.53), and Marathon Oil (MRO 35.24, -0.03).

Consumer names will be in focus tomorrow morning with CVS Caremark (CVS 62.20, -0.39), DirecTV (DTV 64.32, +0.65), and Office Depot (ODP 5.64, -0.13) scheduled to release their results before the opening bell.DJ30 +12.92 NASDAQ +10.96 SP500 +4.56 NASDAQ Adv/Vol/Dec 1676/1.32 bln/868 NYSE Adv/Vol/Dec 1938/334.6 mln/1015

2:35 pm : The S&P 500 continues to hover near its best level of the session while the Russell 2000 has extended its advance to 1.0%. Earlier, investors received the September factory orders report as well as the August number that was delayed by the partial government shutdown.

Tomorrow, only the ISM Services Index for October (54.4 prior, 54.0 Briefing.com consensus) will cross the wires at 10:00 ET while Wednesday will bring the Leading Indicators report for September (+0.7% previous, +0.6% consensus).

Economic data will be in focus on Thursday and Friday with the preliminary third quarter GDP report (1.9% consensus) set for a Thursday release and the October nonfarm payrolls report (100K consensus) expected on Friday morning.DJ30 +14.42 NASDAQ +11.28 SP500 +4.84 NASDAQ Adv/Vol/Dec 1661/1.22 bln/854 NYSE Adv/Vol/Dec 1961/302.8 mln/985

2:00 pm : The S&P 500 has climbed back to its early high, but sector leadership remains spotty as only two sectors hold gains larger than 0.2% (energy and telecom services).

All in all, the session continues to unfold in uneventful fashion amid light participation. With two hours remaining before the closing bell, only 274 million shares have changed hands on the floor of the New York Stock Exchange.

Meanwhile, market breadth remains biased to the bullish side as advancing issues on the NYSE outpace declining issues by a 1.9:1 ratio.DJ30 +9.76 NASDAQ +7.36 SP500 +3.89 NASDAQ Adv/Vol/Dec 1598/1.13 bln/888 NYSE Adv/Vol/Dec 1911/274.2 mln/1018

1:25 pm : It's a mixed and fairly uneventful market at this juncture as the major indices are little changed. Still, one can find evidence of the familiar buy-the-dip trade at work among the small-cap stocks.

Last week, the Russell 2000 declined 2.0%. Today it is up 0.8% and sits atop the performance tables.

On a related note, The Big Picture column on Briefing.com this week focuses on this year's worst-performing small-cap stocks and their rising profile as potential tax-loss selling candidates. Be sure to read that article for a better understanding of why many may still get kicked when they are down.

Separately, the S&P 500 materials sector is little changed today, yet that understanding belies a strong performance from the steel industry, where many stocks are up between 1% and 9% following a Goldman Sachs upgrade of AK Steel (AKS 5.02, +0.42) and US Steel (X 26.85, +1.07) to Buy from Sell. DJ30 -5.90 NASDAQ +5.23 SP500 +2.41 NASDAQ Adv/Vol/Dec 1570/1.02 bln/915 NYSE Adv/Vol/Dec 1836/243 mln/1094

12:55 pm : At midday, the Dow (unch), Nasdaq (+0.2%), and S&P 500 (+0.2%) hover near their flat lines while the Russell 2000 outperforms (+0.8%). Although small caps have displayed some early strength, the broader market has not shown the same level of conviction as only two sectors (energy and telecom services) trade with gains larger than 0.2%.

The energy sector (+0.7%) notched its high shortly after the open, and continues to drift not too far below that level at this stage. Meanwhile, crude oil is higher by 0.1% at $94.74/bbl after alternating between gains and losses.

Elsewhere, the industrial sector (+0.2%) has received support from transports as the Dow Jones Transportation Average sports an advance of 0.9%. The bellwether complex has climbed to a fresh record high as airlines register broad gains after Delta Air Lines (DAL 27.70, +1.06) reported a 2.0% year-over-year increase in passenger unit revenue.

Other cyclical sectors have not moved much, and financials remain challenged by their flat line.

Similarly, three countercyclical groups (consumer staples, health care, and utilities) are little changed while telecom services (+0.5%) outperform.

Among earnings of note, Kellogg (K 63.37, +1.08) trades higher by 1.7% after reporting a bottom-line beat on in-line revenue. In addition, the company announced plans to cut 7.0% of its workforce to reflect a challenging environment.

Treasuries hover near their highs with the 10-yr yield down three basis points at 2.59%.

Due to the partial government shutdown, the Census Bureau released the factory orders reports for August and September at the same time. Orders increased 1.7% in September after declining 0.1% in August. July factory orders were revised down from -2.4% to -2.8%. The Briefing.com consensus expected factory orders to increase 1.8% in September and 0.3% in August.

The recent volatility in factory orders was a result of significant, up-and-down monthly moves in aircraft orders. Nondefense aircraft orders increased 57.7% in September after a 5.4% increase in August and a 58.9% decrease in July.DJ30 -4.36 NASDAQ +6.81 SP500 +2.62 NASDAQ Adv/Vol/Dec 1575/939.2 mln/905 NYSE Adv/Vol/Dec 1823/218.7 mln/1098

12:30 pm : Equity indices remain mixed with the Dow lower by 0.1% while the S&P 500 sits just above its flat line. The price-weighted Dow has been stuck in negative territory for the past 90 minutes as 16 of 30 components register losses. However, outside of DuPont's (DD 59.82, -1.27) 2.1% decline, no other index component holds a loss larger than 0.9%.

On the upside, Exxon Mobil (XOM 91.10, +1.28) and Merck (MRK 45.84, +0.62) are the only two components trading with gains that exceed 1.0%. Exxon Mobil constitutes the largest chunk of today's top sector (energy) while Merck outperforms after announcing upbeat clinical trial results.DJ30 -7.93 NASDAQ +7.51 SP500 +2.60 NASDAQ Adv/Vol/Dec 1544/867.1 mln/918 NYSE Adv/Vol/Dec 1766/200.1 mln/1143

12:00 pm : The Dow, Nasdaq, and S&P 500 remain little changed while the Russell 2000 (+0.8%) continues to outperform. Even though the broader indices sit near their flat lines, a couple pockets of strength can be spotted among cyclical groups.

The energy sector (+0.6%) continues to trade ahead of the remaining groups even as crude oil has dipped back into negative territory (-0.1% at $94.50/bbl).

Elsewhere, the Dow Jones Transportation Average (+0.9%) has climbed to a fresh all-time high as airlines display solid gains across the board. Delta Air Lines (DAL 27.75, +1.11) is higher by 4.2% after reporting a 2.0% year-over-year increase in passenger unit revenue.DJ30 -8.89 NASDAQ +9.81 SP500 +2.50 NASDAQ Adv/Vol/Dec 1553/778.5 mln/902 NYSE Adv/Vol/Dec 1763/174.6 mln/1111

11:30 am : Equity indices have returned to their flat lines as the search for direction continues. The early climb was fueled by the outperformance of the energy sector, but the broader market did not follow in the sector's footsteps.

At this juncture, the energy space remains in the lead, but has trimmed its advance to 0.4%. Three of the remaining five cyclical sectors hold slim gains while consumer discretionary (-0.1%) and financials (-0.1%) trade just below their flat lines.

Countercyclical groups are also mixed as consumer staples (-0.1%) and utilities (-0.5%) hover in the red while health care (+0.1%) and telecom services (+0.3%) sport modest gains.DJ30 -13.53 NASDAQ +5.31 SP500 +1.50 NASDAQ Adv/Vol/Dec 1460/686.2 mln/964 NYSE Adv/Vol/Dec 1653/147.8 mln/1167

10:55 am : The major averages are working their way back to the opening levels with the energy sector (+0.8%) paving the way. Meanwhile, crude oil also trades in positive territory, but its gain has been limited to just 0.2% so far.

Outside of energy, no other sector trades with an advance larger than 0.2%. The remaining five cyclical groups hover in the green, but consumer discretionary and financials are little changed.

Treasuries have continued their climb, pressuring the 10-yr yield lower by three basis points to 2.59%.DJ30 -4.72 NASDAQ +4.17 SP500 +1.88 NASDAQ Adv/Vol/Dec 1484/558.5 mln/899 NYSE Adv/Vol/Dec 1712/110.1 mln/1083

10:30 am : Commodities are mixed this morning, while the dollar index fell to a new LoD a short while ago.

Crude oil rallied in recent action, pushing the Dec contract to a new HoD of $95.11/barrel. In current trade, Dec crude is +0.1% at $94.72/barrel.

Natural gas futures have been in the red all day so far not far above its LoD. Dec nat gas is now -2.1% at $3.11/MMBtu

Silver futures have been flat this morning, while gold has been climbing higher. Dec silver is now down once cent at $21.83/oz and Dec gold is +0.4% at $1319/oz.DJ30 +9.93 NASDAQ +6.92 SP500 +2.63 NASDAQ Adv/Vol/Dec 1373/416.8 mln/974 NYSE Adv/Vol/Dec 1656/72.4 mln/1077

10:00 am : The S&P 500 trades higher by 0.2%.

August factory orders fell 0.1%, which was worse than the 0.3% increase expected by the Briefing.com consensus. The August decline follows the prior month's decrease of 2.8%.

Meanwhile, factory orders for September rose 1.7% while the Briefing.com consensus expected an increase of 1.8%.DJ30 +26.01 NASDAQ +0.33 SP500 +1.75 NASDAQ Adv/Vol/Dec 1307/281.6 mln/971 NYSE Adv/Vol/Dec 1891/42.4 mln/647

09:45 am : The major averages registered opening gains with small caps providing early leadership. The Russell 2000 trades higher by 0.4% while the S&P 500 underperforms with a more modest gain of 0.2%.

Cyclical groups have displayed some early strength with energy (+0.3%) and industrials (+0.3%) pacing the early advance. Meanwhile, financials and consumer discretionary sectors underperform, trading with gains smaller than 0.2%.

Treasuries have spent the past hour near their highs with the 10-yr yield off two basis points at 2.60%. August and September factory orders will be reported at 10:00 ET.DJ30 +35.79 NASDAQ +5.11 SP500 +4.07 NASDAQ Adv/Vol/Dec 1350/168.9 mln/885 NYSE Adv/Vol/Dec 1921/39.9 mln/605

09:15 am : S&P futures vs fair value: +5.30. Nasdaq futures vs fair value: +14.50. The S&P 500 futures sport a pre-market gain of 0.4% after climbing steadily through the overnight session. Equities are poised for an upbeat open after markets in Asia and Europe began the week on a subdued note.

Although investors are in store for another busy week of earnings, this morning featured less than 20 quarterly reports. Most notably, Kellogg (K 63.28, +0.99) reported a bottom-line beat on in-line revenue, and announced plans to cut 7% of its workforce.

In today's economic data, August and September factory orders will be reported at 10:00 ET.

08:56 am : [BRIEFING.COM] S&P futures vs fair value: +4.20. Nasdaq futures vs fair value: +13.00. The S&P 500 futures trade higher by 0.4%.

Markets across Asia ended mostly lower as only China's Shanghai Composite (unch) and India's Sensex (+0.2%) managed to stay out of the red. The flat trade in China came after Saturday's improved Non-Manufacturing PMI (56.3 actual v. 55.4 expected) while the small gain for India's Sensex lifted trade to an all-time high for a fifth straight session. Elsewhere, Thailand's SET (-2.9%) was pressured after protestors took to the streets in repose to government efforts to pass a blanket amnesty bill for people charged with offenses during prior political clashes. There was no other notable data from the region.

In Japan, the Nikkei was closed for Culture Day.
Hong Kong's Hang Seng shed 0.3% amid light trade. Casino stocks were pressured as MGM China and Sands China gave up 2.2% and 1.4%, respectively. Heavyweight Tencent Holding was also weak, giving up 1.4%.
In China, the Shanghai Composite settled flat following reports the city of Shenzhen was upping minimum down payments for second homes. Developers were weak as Vanke and Poly Real Estate both fell more than 1.0%.

Major European indices hold modest gains with Great Britain's FTSE (+0.6%) in the lead. Among headlines of note, European Central Bank member Jorg Asmussen said interest rates in Germany are too low, but would not comment on this week's upcoming ECB rate decision. In economic data, Eurozone Manufacturing PMI held steady at 51.3, as expected. Separately, Sentix Investor Confidence rose to 9.3 from 6.1 (6.0 forecast). Germany's Manufacturing PMI increased to 51.7 from 51.5 (51.5 forecast). Great Britain's Construction PMI rose to 59.4 from 58.9 (58.9 expected). French Manufacturing PMI slipped to 49.1 from 49.4 (49.4 expected). Italian Manufacturing PMI ticked down to 50.7 from 50.8 (51.0 consensus). Elsewhere, Spain's Manufacturing PMI increased to 50.9 from 50.7 (50.9 forecast).

In Germany, the DAX is higher by 0.4% with K+S trading well ahead of the remaining names. The fertilizer stock holds a solid gain of 7.5%. Deutsche Bank is the weakest performer, down 0.8%.
France's CAC trades up 0.4% as growth-sensitive companies lead. Lafarge and EADS are both up near 2.5%. Financials have displayed relative weakness as Credit Agricole and Societe Generale trade little changed.
Great Britain's FTSE holds an advance of 0.6% as miners display strength. Antofagasta, Fresnillo, and Rio Tinto are all up between 2.3% and 3.2%. Defense names lag with Meggitt and Rolls-Royce Holdings down 2.8% and 0.2%, respectively.

08:28 am : [BRIEFING.COM] S&P futures vs fair value: +2.80. Nasdaq futures vs fair value: +10.00. U.S. equity futures sport modest gains with the S&P 500 futures trading higher by 0.3%. The first full week of November has gotten off to a relatively quiet start with markets in India, Japan, and Singapore closed for holidays. Meanwhile, China's Shanghai Composite closed flat after the country's Non-Manufacturing PMI came in at a 14-month high of 56.3.

Elsewhere, European indices trade modestly higher while the euro rebounds from last week's bout of weakness against the dollar. Currently, the single currency is higher by about 20 pips versus the greenback near 1.3500. Meanwhile, the Dollar Index holds a modest loss of 0.1% at 80.60.

08:00 am : [BRIEFING.COM] S&P futures vs fair value: +3.70. Nasdaq futures vs fair value: +12.20. U.S. equity futures hover near their best pre-market levels. The S&P 500 futures trade higher by 0.3%.

Looking at overnight developments:

Asian markets ended little changed. Hong Kong's Hang Seng -0.3% and China's Shanghai Composite settled flat. Japan's Nikkei was closed.
In regional economic data:
China's Non-Manufacturing PMI rose to a 14-month high of 56.3 from 55.4.
Australia's retail sales rose 0.8% month-over-month (0.4% forecast, 0.5% prior) and the House Price Index increased 1.9% quarter-over-quarter (2.1% forecast, 2.7% previous). Separately, ANZ Job Advertisements ticked down 0.1% month-over-month (0.2% prior) while the MI Inflation Gauge increased 0.1% month-over-month (0.2% last).
New Zealand's ANZ Commodity Price Index rose 1.3% month-over-month (1.0% last).
Looking at news:
In China, the Shanghai Interbank Offered Rate continued its retreat that began late last week. Most notably, the one-month rate eased almost 56 basis points to 4.61%.

Major European indices hold modest gains. Germany's DAX +0.4%, France's CAC +0.5%, and Great Britain's FTSE +0.5%. Elsewhere, Italy's MIB +0.4% and Spain's IBEX +0.3%.
Economic data was limited:
Eurozone Manufacturing PMI held steady at 51.3, as expected. Separately, Sentix Investor Confidence rose to 9.3 from 6.1 (6.0 forecast).
Germany's Manufacturing PMI increased to 51.7 from 51.5 (51.5 forecast).
Great Britain's Construction PMI rose to 59.4 from 58.9 (58.9 expected).
French Manufacturing PMI slipped to 49.1 from 49.4 (49.4 expected).
Italian Manufacturing PMI ticked down to 50.7 from 50.8 (51.0 consensus).
Spain's Manufacturing PMI increased to 50.9 from 50.7 (50.9 forecast).
In news:
European Central Bank member Jorg Asmussen said interest rates in Germany are too low, but would not comment on this week's upcoming ECB rate decision.

In U.S. corporate news:

AK Steel (AKS 4.88, +0.28): +6.1% after Goldman Sachs upgraded the stock to 'Buy' from 'Sell.'
CME Group (CME 75.00, +0.30): +0.4% after beating on earnings and revenue.
Merck (MRK 46.00, +0.77): +1.7% after releasing an update on the progress of one of its clinical trials.
TravelCenters of America (TA 9.00, +0.48): +5.6% following its bottom-line beat on below-consensus revenue.

August and September factory orders will be reported at 10:00 ET.

07:26 am : [BRIEFING.COM] S&P futures vs fair value: +2.00. Nasdaq futures vs fair value: +9.50.

07:26 am : Nikkei...Holiday......... Hang Seng...23189.62...-60.20...-0.30%.

07:26 am : FTSE...6765.76...+31.00...+0.50%. DAX...9035.93...+28.40...+0.30%.

Special thanks to Bloomberg, CNNMoney, Reuters and Yahoo! Finance for their market summaries. gm

Best Regards,
M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Image@ http://twitter.com/wrbtrader Image@ http://stocktwits.com/wrbtrader

http://www.thestrategylab.com
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