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 Post subject: November 5th Tuesday Trade Results - Profit $1665.00
PostPosted: Wed Nov 06, 2013 12:07 am 
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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 @ $1,290.00 dollars or +12.90 points, Emini ES ($ES_F) futures @ $375.00 dollars or +7.50 points, Light Crude Oil CL ($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 @ $1,665.00 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=1643

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 Flounder As Investors Watch And Wait

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

NEW YORK (CNNMoney)
Stocks are still hovering near all-time highs. But investors had no reason to do much other than watch and wait Tuesday.

The Nasdaq and the Dow closed near breakeven, while the S&P 500 index dipped 0.3%.

Stocks in the U.S. and around the world have been buoyed by the Federal Reserve's $85 billion a month stimulus program this year.

The Fed is likely to pull back on its bond buying sometime in 2014. But investors are largely watching economic reports and waiting for more hints about when the Fed may finally make a move.

Earnings deluge continues: Investors did have a slew of earnings reports from top companies to parse through.

AOL (AOL)was the big winner Tuesday. The online media company's stock spiked more than 8%, despite a sharp drop in profits. Investors looked more closely at the company's double-digit advertising revenue growth.

Michael Kors (KORS)also soared on better-than-expected earnings. The fashion retailer also raised its outlook.

StockTwits commenters were excited by Kors' prospects. "$KORS has only scratched the surface of store openings...great 5 year outlook," jjshaka wrote.

T-Mobile (TMUS) had a wild ride Tuesday. After initially popping in early trading, its stock closed down nearly 1%.The wireless company reported growth in quarterly revenue and one million new subscribers.

CVS (CVS, Fortune 500) surged on positive earnings, hitting its all-time high. Its results also pulled up shares of drug store rival Walgreen (WAG, Fortune 500).

DirecTV (DTV, Fortune 500) didn't fare as well. Its stock tumbled, despite reporting a rise in profits and new subscriber growth.

Shares of Tesla Motors (TSLA) tumbled in after hours trading even though the company managed to beat profit forecasts. But after excluding revenue from electric vehicle credits, sales missed forecasts.

Tesla's stock has been one of the hottest market performers this year.

Some StockTwits investorss were prescient earlier in the day worrying that the car maker's earnings or guidance could spook investors. "$TSLA Lots of high expectations for earnings, if this stumbles it could be bad. Still way overvalued Bearish," LSValue wrote. Another trader said that investors should pay attention to CEO Elon Musk, who has warned that he thinks the stock may be overvalued.

"$TSLA Guidance will sinks this," wrote Supercash. "Still not listening to Musk he said its overpriced."

Main Street may avoid Twitter IPO. So?

IPO fever: It's the busiest week for IPOs since 2006, according to Renaissance Capital. 15 companies are expected to debut this week.

Of course the IPO that everyone is watching is Twitter, which is expected to price its offering on Wednesday evening and begin trading Thursday. But one trader noted that Twitter is nowhere near as popular as social networking giant Facebook (FB, Fortune 500).

"$TWTR has big IPO dreams.. to be remembered is that its just 15th the size of $FB!" wrote amigobulls on StockTwits.

World markets also fall: Major European markets closed lower, as investors digested the European Commission's latest economic forecast. A surprise drop in inflation last month has cast fresh shadows over the health of the European economy. Asian markets ended mixed.

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4:15 pm : The major averages ended on a mixed note as the S&P 500 shed 0.3% while the Nasdaq added 0.1%.

Equities spent the entire session climbing off their early lows after weakness in Europe set the stage for a lower open. European indices hovered near their worst levels of the day at the outset of the U.S. session after the European Commission lowered its 2014 GDP forecast for the region to 1.1% from 1.2%. Similar to equities, core EU bonds also sold off as Germany's 10-yr yield added four basis points to 1.74% while the French 10-yr yield rose six basis points to 2.21%.

Although stocks began the U.S. session in negative territory, the buy-the-dip trade was at work once again, fueling a day-long rebound. The tech-heavy Nasdaq was able to eke out a modest gain thanks to the outperformance of biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 207.11, +1.44) rose 0.7%, extending its year-to-date advance to 51.1%. Meanwhile, the traditional tech sector ended just below its flat line.

While most groups were able to rebound from their early lows, energy (-0.8%), financials (-0.5%), utilities (-0.8%), and telecom services (-1.9%) were not as fortunate.

The energy sector was pressured by crude oil, which slid 1.3% to $93.40 per barrel. Meanwhile, the financial space underperformed for the second consecutive day, trimming its quarter-to-date advance to 3.0%. Although the sector continues to hold a solid gain for the quarter, the remaining nine groups have all had a better showing since the start of October.

Only one other cyclical sector, consumer discretionary, ended north of its flat line. The group posted a razor-thin advance of 0.01% as quick-service restaurants masked broad losses among homebuilders. Restaurant names rallied in reaction to better-than-expected earnings from Red Robin Gourmet Burgers (RRGB 84.20, +7.44) while the iShares Dow Jones US Home Construction (ITB 22.20, -0.37) lost 1.6% as the increase in rates weighed.

Treasuries sold off during morning trade before regaining a small portion of their losses in the afternoon. The benchmark 10-yr yield rose six basis points to 2.67%, its highest since October 16.

Trading volume was just above average as 741 million shares changed hands on the floor of the New York Stock Exchange.

Today's data was limited to the October ISM Services Index, which climbed to 55.4 from 54.4 (54.0 Briefing.com consensus). The strength in the services sector is not a surprise. Recent employment reports have shown an uptick in services hiring; moreover, October marks the 46th consecutive month in which economic activity in the non-manufacturing sector has expanded.

Business activity strengthened in October, with the series index rising to 59.7 from 55.1. The new orders index showed continued expansion with a print of 56.8, yet that was the second straight month in which new orders activity decelerated. The aforementioned index was at 60.5 in August and 59.6 in September.

Tomorrow, the weekly MBA Mortgage Index will be released at 7:00 ET and September Leading Indicators will cross the wires at 10:00 ET.

Nasdaq +30.5% YTD
Russell 2000 +29.9% YTD
S&P 500 +23.6% YTD
DJIA +19.2% YTD

DJ30 -20.90 NASDAQ +3.27 SP500 -4.96 NASDAQ Adv/Vol/Dec 1076/1.86 bln/1475 NYSE Adv/Vol/Dec 967/741.3 mln/2054

3:30 pm :

A stronger dollar index following better-than-anticipated Oct ISM Services data put pressure on precious metals and crude oil. The ISM Services reading for Oct was 55.4, which was above the Briefing.com consensus estimate of 54.0, and ahead of the 54.4 reading for Sept
Dec gold slipped to a session low of $1305.20 per ounce in morning floor trade after trading as high as $1317.90 per ounce earlier in the session. Unable to erase much of the loss, it settled 0.5% lower at $1308.10 per ounce
Dec silver also fell into negative territory, extending losses for a fourth consecutive session. It brushed a session low of $21.60 per ounce and eventually settled with a 0.3% loss at $21.64 per ounce.
Dec crude oil fell deeper into negative territory after pulling back from a session high of $94.30 per barrel. It touched a session low of $93.07 per barrel and settled with a 1.3% loss at $93.40 per barrel
Dec natural gas, on the other hand, trended higher today. It lifted from its session low of $3.40 per MMBtu set at pit trade open and broke into positive territory by late morning action. It settled 0.6% higher at $3.47 per MMBtu.

DJ30 -7.77 NASDAQ +7.36 SP500 -2.82 NASDAQ Adv/Vol/Dec 1133/1579.3 mln/1391 NYSE Adv/Vol/Dec 1027/499 mln/1970

3:00 pm : The S&P 500 remains lower by 0.1% as the final hour of action gets underway. Following today's close, investors will receive more than 100 quarterly reports with another batch of roughly 60 reports set to be released tomorrow morning.

Although most market-moving names have already announced their results, investors will be on a lookout for reports from C.H. Robinson (CHRW 60.97, -0.76), Fossil (FOSL 133.70, +3.50), and Tesla (TSLA 177.00, +1.80).

Tomorrow morning, the focus will turn to names like Humana (HUM 94.21, +0.08), Time Warner (TWX 68.01, -0.66), and Polo Ralph Lauren (RL 171.61, +2.02).DJ30 -2.96 NASDAQ +8.01 SP500 -2.20 NASDAQ Adv/Vol/Dec 1111/1.43 bln/1398 NYSE Adv/Vol/Dec 1029/451.1 mln/1961

2:35 pm : Equity indices remain mixed as subdued afternoon action continues. Yesterday's trading volume was well below average as less than 600 million shares changed hands on the floor of the NYSE. While today's total looks poised to surpass yesterday's tally, the final count may have difficulty surpassing the 200-day average of 726 million shares.

Market breadth remains skewed to the downside as declining issues on the NYSE outpace advancers by a 1.9:1 ratio.DJ30 +1.80 NASDAQ +8.18 SP500 -1.83 NASDAQ Adv/Vol/Dec 1104/1.32 bln/1400 NYSE Adv/Vol/Dec 1027/419.9 mln/1950

2:00 pm : Not much has changed since our last update as the Nasdaq holds a slim gain of less than 0.1% while the S&P 500 has yet to climb into positive territory. The benchmark index spent about an hour just below its flat line, but the continued underperformance of energy (-0.7%), health care (-0.4%), financials (-0.3%), and materials (-0.4%) has been a limiting factor.

Small caps continue to trail the broader market with the Russell 2000 lower by 0.5%.DJ30 -22.73 NASDAQ +0.30 SP500 -4.22 NASDAQ Adv/Vol/Dec 1023/1.21 bln/1484 NYSE Adv/Vol/Dec 926/385.2 mln/2049

1:30 pm : The S&P 500 is little changed at the moment, yet its current standing belies another episode today where weakness has been looked at as a buying opportunity. To that end, the S&P 500 was down as many as 12 points in the first 40 minutes of trading. Since then, it has been pressing higher amid a steady stream of buying interest.

The turn came shortly after the release of the better-than-expected ISM Services report for October. That report doesn't often move markets considering the services sector is less cyclical than the manufacturing sector. Accordingly, it is probably being given more credit than it is due for the rebound effort.

The ISM Services report certainly didn't hurt matters as it indicated the non-manufacturing sector expanded for the 46th consecutive month, but we suspect it falls behind in a line of reasoning that has pointed to the Fed's ongoing liquidity support and a need for underperforming money managers to catch up to benchmarks as a basis for buying when the market dips.

The S&P 500 is overextended on a short-term basis (+6.8% since October 8), but so far it appears still that the fear of being out of the market is greater than the fear of being in the market.DJ30 +0.84 NASDAQ +5.40 SP500 -1.75 NASDAQ Adv/Vol/Dec 1108/1.11 bln/1377 NYSE Adv/Vol/Dec 1022/351 mln/1946

12:55 pm : Equities are mixed at midday as the S&P 500 trades lower by 0.1% while the tech-heavy Nasdaq outperforms with a modest gain of 0.1%. Small caps lag as the Russell 2000 holds a loss of 0.3%.

Stocks have spent the entire first half of the session climbing off their lows after cautious action in Europe set the stage for a lower open. European indices succumbed to selling pressure after the European Commission lowered its 2014 growth forecast to 1.1% from 1.2%. Core European bonds were on the defensive along with equities as Germany's 10-yr yield added four basis points to 1.74% while the French 10-yr yield added six basis points to 2.21%.

Although U.S. equities have risen off their opening lows, the S&P 500 remains pressured by the underperformance of five sectors. Notably, financials (-0.3%) find themselves among the laggards for the second day in a row as most major bank shares register losses.

Energy (-0.3%) and materials (-0.4%) have also weighed on the broader market amid weakness in the underlying commodities. Crude oil is lower by 1.4% at $93.28 per barrel while gold futures hold a loss of 0.5% at $1308.80 per troy ounce.

On the upside, the tech sector is the only cyclical group trading in positive territory as it hovers just above its flat line. Major components trade in mixed fashion, but the sector's relative strength combined with the outperformance of the iShares Nasdaq Biotechnology ETF (IBB 207.41, +1.74) have helped the Nasdaq climb out of the red.

Elsewhere, the discretionary sector (-0.1%) trades in-line with the S&P, but homebuilders have displayed broad weakness. The iShares Dow Jones US Home Construction ETF (ITB 22.14, -0.43) is lower by 1.9% as elevated Treasury rates pressure the industry group. The 10-yr yield is up five basis points at 2.66%.

The October ISM Services reading climbed to 55.4 from 54.4 (54.0 Briefing.com consensus). The strength in the services sector is not a surprise. Recent employment reports have shown an uptick in services hiring; moreover, October marks the 46th consecutive month in which economic activity in the non-manufacturing sector has expanded.

Business activity strengthened in October, with the series index rising to 59.7 from 55.1. The new orders index showed continued expansion with a print of 56.8, yet that was the second straight month in which new orders activity decelerated. The aforementioned index was at 60.5 in August and 59.6 in September.DJ30 -5.49 NASDAQ +2.83 SP500 -2.25 NASDAQ Adv/Vol/Dec 1103/1.01 bln/1376 NYSE Adv/Vol/Dec 981/321.3 mln /1976

12:35 pm : The S&P 500 (-0.1%) has trimmed its loss to less than one point while the Dow and Nasdaq (+0.1%) have crept into positive territory.

The recent uptick in equities coincided with Treasuries lifting off their lows. The 10-yr yield is now higher by five basis points at 2.66% after being up as much as seven basis points. Treasuries have been selling off steadily for the past week, pushing the 10-yr yield higher by 15 basis points.

The selling developed following the October FOMC Statement, which may have been perceived as more hawkish than expected. On a related note, the Dollar Index has also been gaining ground and is up again today (+0.2% at 80.71).DJ30 +1.25 NASDAQ +2.67 SP500 -0.98 NASDAQ Adv/Vol/Dec 1106/955.5 mln/1360 NYSE Adv/Vol/Dec 981/302.7 mln/1966

12:00 pm : The S&P 500 continues to hold its recent levels as it hovers less than five points below its flat line. Although the index was able to erase most of its opening loss, a potential return into positive territory will hinge on the afternoon performance of cyclical sectors. Currently, only the technology space (-0.1%) trades ahead of the broader market.

Consumer discretionary (-0.2%) and industrials (-0.2%) trade in-line with the S&P, but energy (-0.4%), financials (-0.3%), and materials (-0.6%) lag.

Even though buyers have not shown much conviction today, the CBOE Volatility Index (VIX 13.06, +0.13) is not reflective of a mad dash for protection. Elsewhere, Treasuries have been selling off throughout the session, pushing the 10-yr yield higher by seven basis points to 2.67%.DJ30 -18.23 NASDAQ -1.57 SP500 -3.35 NASDAQ Adv/Vol/Dec 998/841.5 mln/1457 NYSE Adv/Vol/Dec 861/268.5 mln/2070

11:30 am : The major averages remain in the red as the Russell 2000 lags (-0.6%) while the Nasdaq (-0.2%) hovers less than five points below its flat line. For its part, the S&P 500 is lower by 0.3% as eight of ten sectors register losses.

The discretionary space trades in-line with the S&P, masking some notable losses among major homebuilders. DR Horton (DHI 18.38, -0.43) and PulteGroup (PHM 17.27, -0.56) hold respective losses of 2.3% and 3.1% while the broader iShares Dow Jones US Home Construction ETF (ITB 22.12, -0.46) trades down 2.1%. The ETF has been pressured as of late, and including today's loss it is down 5.5% since last Tuesday.

Today's weakness among builders comes as Treasuries sit on their lows with the 10-yr yield up seven basis points at 2.67%.DJ30 -35.99 NASDAQ -5.80 SP500 -4.99 NASDAQ Adv/Vol/Dec 910/755.5 mln/1503 NYSE Adv/Vol/Dec 760/239.9 mln/2163

11:00 am : Equity indices have climbed off their worst levels of the day, but they continue to hold modest losses. The Nasdaq (-0.1%) trades ahead of the remaining indices as the tech sector (-0.1%) contributes to its outperformance.

The technology space has had the best showing among cyclical sectors as top components trade in mixed fashion. Cisco Systems (CSCO 23.00, +0.43) and Microsoft (MSFT 36.43, +0.49) hold respective gains of 1.9% and 1.3% while Apple (AAPL 525.70, -1.05) and IBM (IBM 178.54, -1.73) are lower by 0.2% and 0.9%, respectively.

Biotechnology has also contributed to the relative strength of the Nasdaq as the iShares Nasdaq Biotechnology ETF (IBB 206.66, +0.99) trades higher by 0.5%.DJ30 -38.59 NASDAQ -1.96 SP500 -4.25 NASDAQ Adv/Vol/Dec 988/601.5 mln/1376 NYSE Adv/Vol/Dec 769/195.5 mln/2126

10:35 am :

Commodities are mostly lower today on broad market weakness
Dollar index spiked to new HoD following ISM number, which weighed on the commodity complex
This helped weigh on commodities overall
Crude oil and copper futures fell to a new LoD just as a result and gold moved is back to its currently LoD
Crude oil hit a new LoD of $93.56/barrel in recent trade and is now
Dec gold is -0.5% at $1308.60/oz, Dec silver is -0.3% at $21.64/oz
Dec nat gas is -0.2% at $3.44/MMBtu

DJ30 -75.55 NASDAQ -12.93 SP500 -7.89 NASDAQ Adv/Vol/Dec 789/494.5 mln/1523 NYSE Adv/Vol/Dec 617/161 mln/2256

10:00 am : The S&P 500 has widened its loss to 0.6%.

The October ISM Services Index was reported at 55.4, above the 54.0 forecast by the Briefing.com consensus, and up from the September reading of 54.4.DJ30 -107.41 NASDAQ -24.26 SP500 -11.48 NASDAQ Adv/Vol/Dec 596/300.9 mln/1657 NYSE Adv/Vol/Dec 489/106.5 mln/2334

09:40 am : As expected, the major averages opened the session in negative territory with the S&P 500 (-0.4%) surrendering yesterday's entire gain.

All ten sectors trade lower with cyclical consumer discretionary (-0.6%), industrials (-0.6%), and materials (-0.6%) leading to the downside. Meanwhile, three of four countercyclical sectors (consumer staples, health care, and utilities) outperform while telecom services (-0.7%) lag.

Selling among Treasuries has continued, pushing the 10-yr yield higher by four basis points to 2.64%.DJ30 -74.24 NASDAQ -13.06 SP500 -7.39 NASDAQ Adv/Vol/Dec 676/141.6 mln/1462 NYSE Adv/Vol/Dec 578/66.5 mln/2133

09:13 am : [BRIEFING.COM] S&P futures vs fair value: -6.80. Nasdaq futures vs fair value: -10.80. Equity indices are poised to register modest losses at the open as equity futures hover near their lows. Futures began showing weakness as the European session got underway with additional pressure resulting from the European Commission cutting its 2014 GDP growth forecast to 1.1% from 1.2%. Although European markets trade broadly lower, only Italy's MIB and Spain's IBEX sport losses larger than 1.0% so far.

Domestically, investors are reacting to quarterly earnings, but today's reports have had little impact on the broader market. GT Advanced Technologies (GTAT 10.42, +2.04) is a notable standout, trading higher by 24.1% on heavy volume after the company announced a partnership agreement with Apple (AAPL 524.50, -2.25).

Treasuries have been selling off for the past hour, sending the 10-yr yield higher by two basis points to 2.63%.

08:57 am : [BRIEFING.COM] S&P futures vs fair value: -6.50. Nasdaq futures vs fair value: -11.50. The S&P 500 futures are lower by 0.4%.

Markets across Asia ended mixed amid a rather uneventful trade. China's Shanghai Composite (+0.4%) ticked higher and Hong Kong's Hang Seng (-0.7%) fell amid a cautious session as hawkish comments from Chinese Premier Li Keqiang have investors wary ahead of this weekend's meeting between Chinese leaders as they look to map out a course for the world's second largest economy. Elsewhere, Japan's Nikkei (+0.2%) eked out a gain following comments from Bank of Japan head Haruhiko Kuroda reiterating the world's third largest economy will met its inflation target, and that more stimulus is readily available if needed. Also making news was the Reserve Bank of Australia, which opted to keep its Cash Rate unchanged at 2.50%, as expected. Notable was a statement from RBA Governor Glenn Stevens suggesting, "The Australian dollar, while below its level earlier in the year, is still uncomfortably high. A lower level of the exchange rate is likely to needed to achieve balanced growth in the economy." Notable data was limited to China's HSBC Services PMI, which rose to 52.6 from 52.4.

In Japan, the Nikkei closed +0.2% as trade halted its two-day skid. Nissan Motor was a notable laggard, plunging 10.4% after issuing disappointing guidance. Yahoo Japan finished among the leaders, posting an 8.7% advance.
Hong Kong's Hang Seng shed 0.7% as sellers remained in control for a second session. Property stocks were hit as Cheung Kong lost 1.9% and China Overseas Land fell 1.3%. Energy plays Cnooc and China Shenhua Energy were among just a handful of names to end in the green, tacking on 0.5% and 0.2%, respectively.
In China, the Shanghai Composite added 0.4% as agricultural stocks led on speculation more reform was coming to the space. Heilongjiang Agriculture and Zhongken Agriculture both surged the limit, 10%.

Major European indices trade broadly lower with Italy's MIB (-1.2%) and Spain's IBEX (-1.1%) leading to the downside after the European Commission lowered its 2014 growth forecast to 1.1% from 1.2%. Core European bonds are on the defensive along with equities. Germany's 10-yr yield is higher by one basis point at 1.71% and the French 10-yr yield has added three basis points to 2.18%. Among news of note, Italian Finance Minister Fabrizio Saccomanni said a strong euro presents a risk to the recovery, but he is not seeing any risk of deflation in the eurozone. However, European Commissioner Olli Rehn offered some pushback, saying the euro currently reflects its economic fundamentals. Economic data was limited. Eurozone PPI ticked up 0.1% month-over-month (0.2% expected, 0.0% last) while the year-over-year reading reflected a decline of 0.9% (-0.7% forecast, -0.8% prior). Great Britain's Services PMI jumped to 62.5 from 60.3 (59.8 forecast). Swiss CPI ticked down 0.1% month-over-month (0.1% consensus, 0.3% last) while the year-over-year reading slipped 0.3% (-0.2% expected, -0.1% prior).

In Germany, the DAX is lower by 0.6% as exporters lag. BMW and Daimler hold respective losses of 3.8% and 1.5%. Utilities have displayed relative strength as E.ON and RWE both trade with gains near 1.0%.
Great Britain's FTSE sports a loss of 0.6% with financials showing relative weakness. RSA Insurance Group has tumbled 6.7% after estimating large losses related to recent wind damage in Europe and Canada. Meanwhile, Barclays and Royal Bank of Scotland trade with losses close to 2.5% apiece.
In France, the CAC trades down 0.9%. Orange leads to the downside with a loss of 4.4% after Bouygues launched a competing service package. EADS outperforms with a gain of 1.2%.
Markets in Italy and Spain are under pressure as banks weigh. In Italy, Banco Popolare is lower by 2.5% while Spain's IBEX is pressured by Banco Popular Espanol (-3.3%) and CaixaBank (-2.0%).

08:28 am : [BRIEFING.COM] S&P futures vs fair value: -4.30. Nasdaq futures vs fair value: -8.00. Equity futures remain near their lows as the session sets up for a cautious open. Futures held slim gains through the Asian session, but fell into the red as European markets opened. A fair share of companies have reported their quarterly results since yesterday's closing bell, but none of the reports came from market-moving names.

The consumer staples sector should receive a measure of support from the shares of CVS (CVS 63.00, +1.02) after the company beat on earnings and revenue while guiding its full-year 2013 earnings above consensus.

Treasuries hold slim losses as the 10-yr yield trades higher by one basis point at 2.62%.

08:00 am : S&P futures vs fair value: -4.70. Nasdaq futures vs fair value: -9.50. U.S. equity futures hover near their lows amid cautious overseas action. The S&P 500 futures trade lower by 0.3%.

Looking at overnight developments:

Asian markets ended on a mixed note. Japan's Nikkei +0.2%, China's Shanghai Composite +0.4%, and Hong Kong's Hang Seng -0.7%.
In regional economic data:
China's HSBC Services PMI ticked up to 52.6 from 52.4.
Japan's monetary base grew 45.8% year-over-year (48.3% forecast, 46.1% prior).
The Reserve Bank of Australia left its key interest rate unchanged at 2.5%, as expected. Separately, the AIG Services Index rose to 47.9 from 47.1.
India's HSBC Services PMI increased to 47.1 from 44.6.
Looking at news:
The People's Bank of China moved to alleviate the ongoing liquidity crunch by conducting its third consecutive liquidity injection in the amount of CNY8 billion. The one-week Shanghai Interbank Offered Rate fell 19 basis points to 4.23%, but longer-term rates rose with the two-week rate climbing almost six basis points to 4.56%.

Major European indices trade broadly lower. Germany's DAX -0.5%, Great Britain's FTSE -0.6%, and France's CAC -0.8%. Elsewhere, Italy's MIB -1.1% and Spain's IBEX -1.1%.
Economic data was limited:
Eurozone PPI ticked up 0.1% month-over-month (0.2% expected, 0.0% last) while the year-over-year reading reflected a decline of 0.9% (-0.7% forecast, -0.8% prior).
Great Britain's Services PMI jumped to 62.5 from 60.3 (59.8 forecast).
Swiss CPI ticked down 0.1% month-over-month (0.1% consensus, 0.3% last) while the year-over-year reading slipped 0.3% (-0.2% expected, -0.1% prior).
Among news of note:
Core European bonds have been on the defensive along with equities. Germany's 10-yr yield is higher by one basis point at 1.71% and the French 10-yr yield has added three basis points to 2.18%.
Italian Finance Minister Fabrizio Saccomanni said a strong euro presents a risk to the recovery, but he is not seeing any risk of deflation in the eurozone at this time.

In U.S. corporate news:

AOL (AOL 39.80, +1.08): +2.8% after reporting revenue ahead of analyst estimates.
Cognizant Tech (CTSH 87.20, +0.35): +0.4% following its better-than-expected earnings and upbeat guidance.
CVS Caremark (CVS 63.30, +1.32): +2.1% after beating on earnings and revenue.
DirecTV (DTV 64.99, +0.62): +1.0% following its above-consensus earnings on in-line revenue.
Hertz Global (HTZ 24.27, +0.47): +2.0% after surpassing earnings and revenue estimates.
RR Donnelley (RRD 18.92, +0.02): +0.1% after beating on earnings and revenue. In addition, the company raised its full-year 2013 revenue guidance above analyst estimates.

The October ISM Services report will be released at 10:00 ET.

07:20 am : [BRIEFING.COM] S&P futures vs fair value: -5.50. Nasdaq futures vs fair value: -11.00.

07:20 am : Nikkei...14225.37...+23.80...+0.20%. Hang Seng...23038.95...-150.70...-0.70%.

07:20 am : FTSE...6722.96...-40.70...-0.60%. DAX...8997.49...-39.70...-0.40%.

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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