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 Post subject: July 3rd Thursday Trade Results - Profit $280.00
PostPosted: Thu Jul 03, 2014 7:44 pm 
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Joined: Sat Jan 10, 2009 2:06 pm
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Location: Canada
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Business Hours: 8am - 5pm est (Mon - Fri)
questions@thestrategylab.com (24/7)
http://twitter.com/wrbtrader (24/7)

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click on the above image to view today's performance verification

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $280.00 dollars or +2.80 points, Emini ES ($ES_F) futures @ $0.00 dollars or +0.00 points, Light Crude Oil CL ($CL_F) futures @ $0.00 dollars or +0.00 points, Gold GC ($GC_F) futures @ $0.00 dollars or +0.00 points and EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks. Total Profit @ $280.00 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 timestamp ##TheStrategyLab chat room. You can read today's price action trading information about my trades (e.g. time, price entry, contract size, price exit) as the trade traversed to its completion. Also, sometimes I'll post real-time trading tips involving WRBs, WRB Hidden GAPs, Key Market Events (KME), Tutorial Chapters 2 & 3, WRB Zones, Reaction Highs/Lows, Contracting Volatility or Expanding Volatility. Its all archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=132&t=1832

Quote:
If any of my real-time posted trades are via key concepts discussed in the WRB Analysis free study guide or the Fading Volatility Breakout (FVB) free trade signal strategy...I will discuss the reasons (trade strategy) behind those trades if/when a user of ##TheStrategyLab chat room ask questions about the trades. In contrast, real-time posted trades that are via the Advance WRB Analysis Tutorial Chapters 4 - 12 or the Volatility Trading Report (VTR) trade signal strategies...I discuss the reasons (trade strategy) behind those trades with fee-base clients in a different private chat room that's designated only for fee-base clients or discuss the strategies with fee-base clients on my Skype contact list.

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 ##TheStrategyLab Chat Room is free. Members and I use the chat room to post WRB Analysis commentary, real-time trades and to post anything else related to trading. The chat room helps me tremendously in my own trading because I use it to document (journal) general volatility analysis involving WRB Analysis so that I can easily review at a later date my thoughts as I interacted with the markets...info I can not get from my broker statements. Also, this is not a signal calling chat room where a head trader tells you when to buy or sell and I do not have the time/energy/resources to manage a signal calling chat room. Access instructions for chat room @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164

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 (answering your questions) prior to purchasing the Volatility Trading Report (VTR).

Image Trading Plan Daily Routine @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=242&t=2402

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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. Further, most financial websites remove (delete) their archives after a few years to make room for new content. Therefore, I maintain my own archives of the news content so that I have it available for me when financial websites no longer archives their content.

Time for Fireworks: Dow Tops 17,000!

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

NEW YORK (CNNMoney)
U.S. stock markets closed at 1 p.m. Thursday, but they got the fireworks going early. The Dow finally hit 17,000!

Many see it as just a psychological threshold, but it's a level U.S. stocks have never seen before, and it comes a mere six months after the Dow crossed 16,000.

All three major indexes closed higher Thursday. The Dow Jones Industrial Average finished at an all-time high of around 17,068 (up nearly 1.3% for the week). The S&P 500 also closed at a record level, hitting 1,985 for the first time. The tech-heavy Nasdaq Composite rounded up the week up 2%.

Here are the highlights of a great week:

Jobs Bonanza: A strong June job reports drove the optimism in the stock market. The U.S. economy added 288,000 jobs last month, and the unemployment rate fell to 6.1%, down from 6.3% in May. That was much better than economists or Wall Street expected.

Related: What you need to know about the jobs numbers

Treasuries react to jobs report: The bond market is moving to sell after the jobs report and Federal Reserve chair Janet Yellen's comments yesterday that the central bank will not use interest rates to pop any potential bubbles in the markets. Bond yields are up to 2.64%, a sign of the improving economy.

Gold investors area bit skittish, with the precious metal's price dropping nearly 0.75% to around $1,321 an ounce.

Bow Wow -- PetSmart stock spikes: PetSmart (PETM) shares were howling at the moon, up 12.5% after hedge fund Jana Partners announced a 9.9% stake with intentions of exploring a sale of the company.

In other moves, embattled clothiers American Apparel (APP) and Lululemon (LULU) traded higher. Shares in the two are finished nearly 5% and almost 3% higher, respectively. There's a lot of news around American Apparel, where Reuters reports that former CEO Dov Charney has handed off his stake to hedge fund Standard General. The Wall Street Journal is reporting that former Lululemon chair and founder Chip Wilson is trying to take the company private.

Intel (INTC, Tech30) shares are up 20% so far this year, making it the second best performing stock in the Dow.

* Video - PCs aren't dead! Intel is soaring

Independence Dog: It's also fun to note that Nathan's Famous (NATH)hot dogs, sponsor of Coney Island's annual July 4 hot dog-eating contest, is a publicly traded company. The stock is down slightly Thursday, but it's up over 7% so far in 2014 and has truly been a "top dog" in recent years.

Related: Nathan's stock performance illustrated with mustard

Overseas Markets: European markets are were higher in afternoon trading, with the FTSE 100 up more than 0.7%. Asian markets were mixed, and Australia's stock market jumped a nice 0.7%.

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1:15 pm: [BRIEFING.COM] The stock market finished the abbreviated trading week on an upbeat note thanks to a boost from a June jobs report that surpassed expectations. The S&P 500 advanced 0.6% with nine sectors posting gains. As a result, the benchmark index extended its weekly gain to 1.3%.

Today's upbeat tone was set early with the June Nonfarm Payrolls report pointing to the addition of 288,000 jobs (Briefing.com consensus 210,000). In addition, the unemployment rate unexpectedly dropped to 6.1%.

Appropriately, the strong report gave a boost to cyclical sectors, while their countercyclical counterparts struggled a bit in the early going.

Consumer discretionary (+0.8%), financials (+0.8%), and industrials (+0.8%) paced the advance throughout the session and ended ahead of the remaining sectors. The discretionary space owed its outperformance to retailers as the group rallied broadly with the SPDR S&P Retail ETF (XRT 88.65, +1.15) climbing 1.3%. Homebuilders also posted gains, but the iShares Dow Jones US Home Construction ETF (ITB 24.94, +0.10), which added 0.4%, could not keep pace with the sector.

Elsewhere, industrials received support from transport stocks. All 30 components of the Dow Jones Transportation Average (+0.8%) finished in the green with airlines posting solid gains to follow yesterday's relative weakness. United Continental (UAL 39.88, +0.61) led the pack, climbing 1.6%.

Also of note, the financial sector padded its weekly advance to 1.3%.

On the countercyclical side, health care (+0.4%) and telecom services (+0.3%) displayed intraday losses, but returned into the green ahead of the close. The consumer staples sector (+0.6%), however, outperformed due to strength in tobacco names. Lorillard (LO 64.41, +3.26) jumped 5.3% in reaction to reports the company's merger with Reynolds American (RAI 61.56, +1.40) is on track to be announced within weeks.

Lastly, the utilities sector (-1.1%) displayed relative weakness for the third day in a row, ending the week lower by 3.2% as profit-taking continued.

Treasuries slumped in reaction to today's data, but spent the remainder of the session in a climb. The benchmark 10-yr yield inched up two basis points to 2.65%.

Economic data included June Nonfarm Payrolls, weekly initial claims, June Challenger Job Cuts, May Trade Balance, and the ISM Services report for June:

Nonfarm payrolls added 288,000 jobs in June after adding an upwardly revised 224,000 (from 217,000). The Briefing.com consensus expected nonfarm payrolls to increase by 210,000
Private payrolls were up 262,000 jobs in June after adding 224,000 jobs in May. That outpaced the consensus expectations of a 213,000 increase
The unemployment rate fell to 6.1% from 6.3%, while the consensus expected no change from 6.3%
The decline resulted from workers finding jobs (+407,000) rather than a drop in the labor force
Average hourly earnings increased 0.2% and hourly workweek was unchanged at 34.5 hours, as expected
The weekly initial claims level increased to 315,000 from an upwardly revised 313,000 (from 312,000). The Briefing.com consensus expected the initial claims level to increase to 315,000
Over the past few weeks, the initial claims level has settled into a range of 310,000 to 320,000 and this week's claims were no different
The Challenger Job Cuts report for June pointed to a 20.0% year-over-year decline
The U.S. trade deficit narrowed in May to $44.40 billion from a downwardly revised $47.00 billion (from $47.20 billion) in April. The Briefing.com consensus expected the trade deficit to fall to $45.2 bln
Total goods deficit fell to $63.30 billion in May from $65.70 billion in April. The services surplus increased to $18.90 billion from $18.60 billion
The ISM Non-Manufacturing Index fell to 56.0 in June from 56.3 in May. The Briefing.com consensus expected the index to increase to 56.5
Business activities softened as the related index declined to 57.5 in June from 62.1 in May as non-manufacturing businesses worked down their backlogs
The Backlog of Orders Index fell to 53.0 from 54.0

There is no economic data on Monday's schedule.

S&P 500 +7.4% YTD
Nasdaq Composite +7.4% YTD
Dow Jones Industrial Average +3.0% YTD
Russell 2000 +3.7% YTD

Week in Review: Stocks Rally into Q3

The stock market finished the second quarter on a subdued note with the major averages ending near their flat lines. The Nasdaq Composite (+0.2%) outperformed throughout the session, while the S&P 500 (-0.04%) surrendered its slim gain into the close. For the quarter, the S&P 500 jumped 4.7%, while the Nasdaq advanced 5.0%. Equity indices displayed losses at the start, but the Nasdaq and S&P 500 returned into the green after a better than expected Pending Home Sales report for June (6.1% versus 1.5% Briefing.com consensus) crossed the wires. Despite the early rebound, the S&P 500 ran into resistance in the 1964 area, which served as the high point for the day. Unlike the Nasdaq and S&P 500, the Dow Jones Industrial Average (-0.2%) could not make a sustained move into the green.

Equities kicked off July and Q3 on a strong note with small caps pacing the rally. The Nasdaq Composite and Russell 2000 jumped 1.1% and 1.0%, respectively, while the S&P 500 advanced 0.7% with nine sectors ending in the green. Stocks displayed early strength after economic data reported overnight and in the early morning indicated expanding manufacturing activity in China, Japan, the eurozone, and the U.S. Although some of the PMI readings missed estimates, they were all above 50, a level that represents the border between expansion and contraction. The data fostered the bullish tone, which was amplified by the arrival of new money at the start of the quarter. In large part, the advance was powered by four of the most influential sectors. Consumer discretionary (+1.1%), health care (+1.3%), financials (+0.6%), and technology (+1.1%) all jumped to the top of the leaderboard at the open and held their ground throughout the session.

The market spent the Wednesday session in a narrow range, which resulted in the S&P 500 posting a slim gain of less than two points (+0.1%) with six sectors ending in the green. The Dow Jones Industrial Average (+0.1%) outperformed slightly, while the Russell 2000 (-0.4%) lagged. The major averages climbed out of the gate, but the early strength was short-lived as only a handful of sectors were able to distance themselves from their flat lines. The lack of concerted sector leadership caused the key indices to return to their flat lines, where they remained into the close. One sector that displayed notable strength throughout the session was the leader from Tuesday-health care. The countercyclical group added 0.7% with biotechnology underpinning the advance. The iShares Nasdaq Biotechnology ETF (IBB) tacked on 0.5%.

12:25 pm: [BRIEFING.COM] Equity indices have maintained their bullish bias, inching higher over the past 30 minutes. Interestingly, Treasuries have also rallied steadily since the opening bell despite an initial dive in reaction to the better than expected nonfarm payrolls report.

The 10-yr note has narrowed its loss to five ticks with its yield now up just two basis points at 2.65%. The benchmark yield notched a high just north of 2.68% earlier this morning before spending the remainder of the session in a steady retreat. For the week, the 10-yr yield is on track to post a 13-basis point gain after finishing June at 2.516%.

12:00 pm: [BRIEFING.COM] The major averages have lifted to fresh session highs with one hour remaining in the abbreviated holiday session. The Russell 2000 (+0.6%), which has held the lead since the open, continues trading ahead of the Nasdaq (+0.5%) and S&P 500 (+0.4%).

In addition to boosting the Russell, high-beta names have also contributed to the Nasdaq rally. Biotechnology is showing modest strength with the iShares Nasdaq Biotechnology ETF (IBB 265.56, +1.01) up 0.4%. Meanwhile, chipmakers trade broadly higher with the PHLX Semiconductor Index up 0.7%.

Cree (CREE 52.66, +2.35) is a standout among microchip names after Oppenheimer upgraded the stock to 'Outperform.'

11:30 am: [BRIEFING.COM] The S&P 500 (+0.4%) has inched back to its session high with the industrial sector (+0.7%) maintaining the lead.

Industrials lagged yesterday due to the underperformance of airlines, but today, the industry group has reclaimed a portion of the losses from Wednesday. United Continental (UAL 40.20, +0.93) is the top performer, up 2.4%, while the broader Dow Jones Transportation Average trades higher by 0.6%.

The relative strength of transports has masked the modest underperformance of defense contractors. The PHLX Defense Index is higher by 0.4%.

11:00 am: [BRIEFING.COM] The major averages continue hovering near their session highs that were established during the opening rally. The S&P 500 trades higher by 0.3% with seven sectors showing gains.

Financials (+0.7%) and industrials (+0.7%) are battling for the lead, while other cyclical sectors follow not far behind. Consumer discretionary (+0.6%) and materials (+0.5%) also outperform, while energy (+0.1%) and technology (+0.2%) lag.

In part, the cyclical sectors have benefitted from some funds rotating out of defensively-oriented groups like telecom services (-0.1%) and utilities (-1.5%) and into the aforementioned cyclical sectors. However, consumer staples (+0.4%) outperform amid strength in tobacco names. Lorillard (LO 64.18, +3.03) is higher by 5.0% in reaction to reports the company's merger with Reynolds American (RAI 61.24, +1.08) is on track to be announced within weeks.

10:35 am: [BRIEFING.COM]

Energy futures are lower this morning, metals are mixed and ag is mostly lower
Natural gas sold off this morning and was sitting news its LoD around $4.34/MMBtu just ahead of the weekly EIA inventory data
Following the data, nat gas initially spiked back to its HoD of $4.39/MMBtu. It just hit a new HoD of $4.41/MMBtu and remains there, up 1.2%.
Crude oil is down again as Iraq concerns decline. The Aug contract is currently -0.7% at $103.76/barrel
Gold and silver have been in the red all day today so far. Following this morning's employment econ data, gold and silver extended losses to new session lows
In current trade, Aug gold is -0.7% at $1321.10/oz, while Sept silver is -0.5% at $21.19/oz
Copper futures spiked a short while ago back into positive territory. Aug contract is currently +0.4% at $3.28/lb

10:00 am: [BRIEFING.COM] The S&P 500 trades higher by 0.3%.

Just released, the ISM Services Index for June fell to 56.0 from 56.3, while the Briefing.com consensus expected an uptick to 56.5.

9:45 am: [BRIEFING.COM] The major averages have jumped out of the gate with small caps in the lead. The Russell 2000 is higher by 0.5%, while the S&P 500 (+0.3%) follows not far behind with nine sectors showing gains.

Fittingly, the stronger than expected jobs report has given a boost to cyclical sectors like consumer discretionary (+0.5%), financials (+0.8%), and industrials (+0.7%). Countercyclical groups, meanwhile, are having a tough time keeping up. Health care trades flat, while utilities (-0.8%) display noteworthy weakness for the third consecutive session.

Treasuries remain pinned to lows with the 10-yr yield up five basis points at 2.67%.

The ISM Services report for June (expected 56.5) will be released at 10:00 ET.

9:15 am: [BRIEFING.COM] S&P futures vs fair value: +6.00. Nasdaq futures vs fair value: +10.50. The stock market is on track for an upbeat start to the final session of an abbreviated trading week. The S&P 500 futures trade six points above fair value with the bulk of the advance coming after the release of the June nonfarm payrolls report.

According to the jobs report, nonfarm payrolls grew by 288,000, while the Briefing.com consensus expected an addition of 210,000 jobs. Also of note, the unemployment rate unexpectedly fell to 6.1% from 6.3% with the decline resulting from workers finding jobs (+407,000) rather than individuals dropping out of the labor force.

In addition to the jobs report, participants were occupied by the results of the latest policy meeting at the European Central Bank. The ECB did not startle the market, keeping its policy on hold. Notably, ECB President Draghi said during his press conference that starting in January, the central bank will begin meeting every six weeks as opposed to once a month.

Treasuries currently hover on their lows with the 10-yr yield up five basis points at 2.68%.

As a reminder, the stock market will close at 13:00 ET today and the bond market will close for the day at 14:00 ET.

9:01 am: [BRIEFING.COM] S&P futures vs fair value: +5.70. Nasdaq futures vs fair value: +11.00. The S&P 500 futures trade six points above fair value.

Asian markets ended the Thursday session near their flat lines. Reserve Bank of Australia Governor Glenn Stevens said the Australian dollar remains overvalued by most measures, while troubling inflation in the property sector may be abating.

In economic data:
China's Non-Manufacturing PMI fell to 55.0 from 55.5, while HSBC Services PMI jumped to 53.1 from 50.7
Hong Kong's Retail Sales fell 4.1% year-over-year (expected -6.4%, previous -9.8%)
India's HSBC Services PMI jumped to 54.4 from 50.2
Australia's Retail Sales fell 0.5% month-over-month (expected 0.3%, previous -0.1%), while Building Approvals jumped 9.9% month-over-month (expected 3.0%, prior -5.8%)

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Japan's Nikkei slipped 0.1%, ending on its low amid weakness in discretionary names. Isetan Mitsukoshi Holdings and J Front Retailing lost 2.0% and 2.5%, respectively. On the upside, Pioneer surged 7.1%.
Hong Kong's Hang Seng shed 0.1% after spending the bulk of the session just below its flat line. Li & Fung weighed, falling 10.5% as the stock traded without rights to the company's spinoff for the first day. Property names outperformed with China Resources Land and China Overseas Land up 2.2% and 1.7%, respectively.
China's Shanghai Composite posted a slim gain of 0.2% with shipping-related names showing continued strength. China Shipping Container Lines and Dalian Port both surged 10.0%.

Major European indices trade higher across the board with Germany's DAX (+0.6%) in the lead. Sweden's Riksbank surprised the market by cutting its main repurchase rate to 0.25% from 0.75%, while the general consensus called for a cut to 0.50%. The European Central Bank, meanwhile, made no changes to its monetary policy, keeping its main lending rate at 0.15%.

Participants received several data points:
Eurozone Retail Sales were unchanged month-over-month (expected 0.2%, previous -0.2%), while the year-over-year reading rose 0.7% (consensus 1.2%, prior 1.8%). Separately, Services PMI held steady at 52.8, as expected
Germany's Services PMI slipped to 54.6 from 54.8 (expected 54.8)
Great Britain's Services PMI fell to 57.7 from 58.6 (expected 58.3)
French Services PMI held steady at 48.2, as expected
Italy's Services PMI rose to 53.9 from 51.6 (expected 51.8)
Spain's Services PMI fell to 54.8 from 55.7 (consensus 55.8)

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In France, the CAC trades higher by 0.3% with Renault in the lead. The stock trades higher by 1.9%. Consumer names underperform with Carrefour and Pernod Ricard both down near 0.5%.
Great Britain's FTSE is higher by 0.5% amid strength in mining shares. Antofagasta and Fresnillo hold respective gains of 4.0% and 2.4%. BG Group lags, down 0.7%.
Germany's DAX sports an advance of 0.5%. Chemical manufacturer K+S is the top performer, up 3.0%. Health care names also display strength with Bayer and Fresenius Medical up 1.4% and 0.9%, respectively. On the downside, Adidas is lower by 0.4%.

8:35 am: [BRIEFING.COM] S&P futures vs fair value: +2.10. Nasdaq futures vs fair value: +4.20. The S&P 500 futures trade two points above fair value.

June nonfarm payrolls came in at 288,000, while the Briefing.com consensus expected a reading of 210,000. Nonfarm private payrolls added 262,000 against the 213,000 expected by the consensus. The unemployment rate fell to 6.1% from 6.3%, while the consensus expected no change.

Hourly earnings ticked up 0.2%, as expected by the Briefing.com consensus. The average workweek was reported at 34.5, which was also in line with expectations.

Separately, the May trade deficit narrowed to $44.40 billion from $47.00 billion, while the Briefing.com consensus expected the deficit to come in at $45.20 billion.

Lastly, the latest weekly initial jobless claims count totaled 315,000, which matched the Briefing.com consensus. Today's tally was above the revised prior week count of 313,000 (from 312,000). As for continuing claims, they rose to 2.580 million from 2.568 million.

8:00 am: [BRIEFING.COM] S&P futures vs fair value: +2.50. Nasdaq futures vs fair value: +2.00. U.S. equity futures hover near their pre-market highs amid upbeat action overseas. The S&P 500 futures trade almost three points above fair value with some volatility expected around 8:30 ET when the June jobs report crosses the wires. The Briefing.com consensus expects the report to reveal the addition of 210,000 nonfarm payrolls.

Reviewing overnight developments:

Asian markets ended mixed. China's Shanghai Composite +0.2%, Hong Kong's Hang Seng -0.1%, and Japan's Nikkei -0.1%.
In economic data:
China's Non-Manufacturing PMI fell to 55.0 from 55.5, while HSBC Services PMI jumped to 53.1 from 50.7
Hong Kong's Retail Sales fell 4.1% year-over-year (expected -6.4%, previous -9.8%)
India's HSBC Services PMI jumped to 54.4 from 50.2
Australia's Retail Sales fell 0.5% month-over-month (expected 0.3%, previous -0.1%), while Building Approvals jumped 9.9% month-over-month (expected 3.0%, prior -5.8%)
In news:
Reserve Bank of Australia Governor Glenn Stevens said the Australian dollar remains overvalued by most measures, while troubling inflation in the property sector may be abating. The commodity currency fell to .9378 against the U.S. dollar.

Major European indices trade higher across the board. France's CAC +0.4%, Great Britain's FTSE +0.5%, and Germany's DAX +0.7%. Elsewhere, Spain's IBEX +0.1% and Italy's MIB +0.6%.
Participants received several data points:
Eurozone Retail Sales were unchanged month-over-month (expected 0.2%, previous -0.2%), while the year-over-year reading rose 0.7% (consensus 1.2%, prior 1.8%). Separately, Services PMI held steady at 52.8, as expected
Germany's Services PMI slipped to 54.6 from 54.8 (expected 54.8)
Great Britain's Services PMI fell to 57.7 from 58.6 (expected 58.3)
French Services PMI held steady at 48.2, as expected
Italy's Services PMI rose to 53.9 from 51.6 (expected 51.8)
Spain's Services PMI fell to 54.8 from 55.7 (consensus 55.8)
Among news of note:
Sweden's Riksbank surprised the market by cutting its main repurchase rate to 0.25% from 0.75%, while the general consensus called for a cut to 0.50%
The European Central Bank made no changes to its monetary policy, keeping its main lending rate at 0.15%.

In U.S. corporate news:

Cree (CREE 51.69, +1.38): +2.7% after being upgraded to 'Outperform' from 'Perform'
ResMed (RMD 49.84, -0.66): -1.3% after Deutsche Bank downgraded the stock to 'Hold' from 'Buy'

The Challenger Job Cuts report for June pointed to a 20.0% year-over-year decline.

Weekly initial claims (Briefing.com consensus 315K), June Nonfarm Payrolls (consensus 210K), and May Trade Balance (consensus -$45.20 billion) will all be released at 8:30 ET. The day's data will be topped off with the 10:00 ET release of the June ISM Services report (expected 56.5).

6:26 am: [BRIEFING.COM] S&P futures vs fair value: +2.00. Nasdaq futures vs fair value: +3.00.

6:26 am: [BRIEFING.COM] Nikkei...15348.29...-21.70...-0.10%. Hang Seng...23531.44...-18.20...-0.10%.

6:26 am: [BRIEFING.COM] FTSE...6846.69...+30.30...+0.40%. DAX...9966.80...+55.50...+0.50%.

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

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

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