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 Post subject: September 5th Friday Trade Results - Profit $4315.00
PostPosted: Fri Sep 05, 2014 3:47 pm 
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Joined: Sat Jan 10, 2009 1:06 pm
Posts: 3249
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)

Attachment:
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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 @ $440.00 dollars or +4.40 points, Emini ES ($ES_F) futures @ $3,875.00 dollars or +77.50 points, Light Crude Oil CL ($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 @ $4,315.00 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=134&t=1881

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=246&t=2502

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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.

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

Yahoo! Finance

4:10 pm: [BRIEFING.COM] The stock market finished a cautious week on a modestly higher note. The S&P 500 added 0.5%, ending the week with a slim gain of 0.2%, while the Russell 2000 (+0.3%) shed 0.2% for the week.

This morning, the Nonfarm Payrolls report for August revealed the addition of 142,000 payrolls, while the Briefing.com consensus expected a reading closer to 223,000. Interestingly, this was followed by a rally in equity futures with investors viewing the report as an argument in favor of the Fed potentially delaying its first rate hike.

Equity indices slipped from their opening levels, but the S&P 500 found support near the 1990 mark, which served as resistance in July and provided support over the past two weeks. The benchmark index tested the area around 10:45 ET and spent the remainder of the session in a slow climb to new highs.

All ten sectors finished in the green, but health care (+0.6%) contributed to the opening weakness. The countercyclical sector was pressured by Gilead Sciences (GILD 105.36, -1.50) in the early going with the stock down 8.7% at its worst point of the session. Shares of GILD narrowed their loss to 1.4% by the close, while the iShares Nasdaq Biotechnology ETF (IBB 270.60, -0.32) shed 0.1% after being down as much as 2.0%. Furthermore, the ETF logged its fourth consecutive decline, ending the week lower by 2.2%.

The underperformance of the biotech space kept the Nasdaq Composite behind the S&P 500, but the tech-heavy Nasdaq still drew a good bit of strength from the technology sector (+0.7%), which outperformed throughout the day. Components of all sizes contributed to the advance with Apple (AAPL 98.97, +0.85), Facebook (FB 77.26, +1.31), and Microsoft (MSFT 45.90, +0.64) gaining between 0.9% and 1.7%. High-beta chipmakers also displayed strength with the PHLX Semiconductor Index climbing 0.9%.

Even though technology spent the day in the green, it was the utilities sector (+1.2%) that finished in the lead.

Treasuries rallied following today's Nonfarm Payrolls report, but surrendered all of their gains during the day. The 10-yr yield ended at 2.45%.

Participation was below average with roughly 600 million shares changing hands at the NYSE.

Taking a closer look at the details of today's jobs report:

Nonfarm payrolls increased by 142,000 (Briefing.com consensus 223,000)
July nonfarm payrolls revised to 212,000 from 209,000
June nonfarm payrolls revised to 267,000 from 298,000
Private sector payrolls increased by 134,000 (Briefing.com consensus 200,000)
July private payrolls revised to 213,000 from 198,000
June private payrolls revised to 260,000 from 270,000
Unemployment rate was 6.1% (Briefing.com consensus 6.1%) versus 6.2% in July
Average hourly earnings rose 0.2% (Briefing.com consensus 0.2%) after being unchanged in July
The average workweek was 34.5 hours (Briefing.com consensus 34.5) for the sixth consecutive month
The labor force participation rate was 62.8% versus 62.9% in July

Monday's economic data will be limited to the Consumer Credit report for July (Briefing.com consensus $17.80 billion), which will cross the wires at 15:00 ET.

Nasdaq Composite +9.7% YTD
S&P 500 +8.6% YTD
Dow Jones Industrial Average +3.4% YTD
Russell 2000 +0.6% YTD

Week in Review: September Begins on Quiet Note

On Tuesday, the market started the abbreviated week on a mixed note with modest point changes on either side of the unchanged mark for the major indices. For the most part, the stock market was a sideshow. The main trading events were seen in the commodity and Treasury markets, both of which saw some decent-sized losses within their respective complex. Dollar strength was at the heart of the weakness in the commodity arena, which saw a 4.2% drop in natural gas futures to $3.90/btu, a 3.1% decline in oil prices to $92.96/bbl, and a 1.7% slide in gold prices to $1266.10/troy ounce. The US Dollar Index increased 0.3% to 82.99 -- a 13-month high -- as the yen hit its weakest level (105.15) against the greenback since January.

The stock market had difficulty getting anything going on Wednesday as a wait-and-see stance permeated the trading action. That was understandable given some confusing headlines about cease-fire talk between Ukraine and Russia, Apple suffering a 4.2% decline in its stock price, and the specter of policy meetings by the Bank of Japan, the Bank of England, and the ECB on Thursday. The way things ended on Wednesday was pretty much how they went throughout the day. That is, the Dow (+0.1%) and S&P 500 (-0.1%) held up better than the Nasdaq Composite (-0.6%) and Russell 2000 (-0.6%). Things sounded more promising before the open when there was talk of a "permanent" cease-fire agreement between Ukraine and Russia. However, Kremlin countered that it could not have agreed to such a thing when it is not a party to the conflict in eastern Ukraine.

Equities finished Thursday on a modestly lower note following a daylong retreat from the opening high. The S&P 500 shed 0.2%, while the Russell 2000 (-0.4%) settled behind the benchmark index. Overnight, the Bank of Japan and the Bank of England made no changes to their policy stances, while the European Central Bank announced a rate cut. The ECB lowered its main refinance rate to 0.05% from 0.15%, cut its deposit facility rate to -0.2% from -0.1%, and cut the marginal lending rate to 0.3% from 0.4%. In addition to the cuts, the central bank announced the deployment of an asset-backed securities purchase program, but it was revealed that the decision was not unanimous. The policy move pressured the euro, sending the single currency to its lowest level since July of last year.

3:35 pm: [BRIEFING.COM]

Precious metals rallied to session highs in morning action following a weak jobs report for August. Nonfarm payrolls added 142,000 jobs in August after adding an upwardly revised 212,000 (from 209,000) in July. The Briefing.com consensus called for an increase to 223,000.
Dec gold popped to a session high of $1274.80 per ounce but quickly erased most of the gain. It spent the remainder of the session chopping around near the unchanged line and settled 0.1% higher at $1267.20 per ounce, booking a loss of 1.6% for the week.
Dec silver also pulled back after touching a session high of $19.28 per ounce. It dipped as low as $19.06 and settled with a 0.2% gain at $19.17 per ounce. The precious metal fell 1.6% over the week.
Oct crude oil extended yesterday's losses as it retreated from its session high of $94.58 per barrel set in early morning floor trade. It fell as low as $92.86 per barrel and settled with a 1.3% loss at $93.32 per barrel. Today's weakness brought losses for the week to 2.7%.
Oct natural gas fell for a fourth consecutive session despite brushing a session high of $3.84 per MMBtu in morning action. It settled 0.8% lower at $3.79 per MMBtu, booking a 6.9% loss for the week.

3:00 pm: [BRIEFING.COM] The S&P 500 trades higher by 0.3% with one hour remaining in the final session of the week. Market participants received the August Nonfarm Payrolls report this morning, while next week is setting up to be relatively quiet on the economic front.

Monday's data will be limited to the Consumer Credit report for July (Briefing.com consensus $17.80 billion), while the middle of the week will be equally quiet.

Friday's session will bring some potentially market-moving data with the August Retail Sales report (Briefing.com consensus 0.6%) and the preliminary reading of the Michigan Sentiment Survey for September (consensus 83.5) on the schedule.

2:30 pm: [BRIEFING.COM] Equity indices have inched to new highs, while the lone declining sector-financials-hovers just below its flat line.

On the flip side, the other five cyclical groups hold gains between 0.2% (consumer discretionary) and 0.5% (technology). Even though the tech sector trades ahead of the other growth-sensitive groups today, it remains on track to end the week in the red (-0.2%).

With stocks on their highs, participants are not showing much interest in volatility protection. The CBOE Volatility Index (VIX 12.20, -0.44) is on its low after hovering in the 13.00% area this morning.

1:55 pm: [BRIEFING.COM] The S&P 500 (+0.2%) sits right below its best level of the session, and thanks to the earlier rebound, the index is now on track to end the week little changed. The S&P 500 entered today's session with a week-to-date decline of 0.3% and saw additional losses in the early going, but has narrowed its loss for the week to just 0.1%.

For its part, the Dow Jones Industrial Average has erased its loss and is now flat for the week.

Treasuries continue holding modest gains with the 10-yr yield down two basis points at 2.43%.

1:30 pm: [BRIEFING.COM] The major indices are sporting modest gains in a rebound effort from earlier losses that appears to be rooted in technical factors.

To that last point, the S&P 500 got things turned around at the 1990 level today, which was reached around 10:40 a.m. ET. There wasn't a headline catalyst at the time to account for the reversal, which makes it interesting to note that the 1990 level marked the peak level seen in July and matched the low end of the trading range that has persisted since August 28.

There was an upside bias after that point was reached.

Today's best-performing sectors are the utilities (+1.0%) and energy (+0.5%) sectors. The latter is up despite a 0.9% decline in crude prices to $93.57/bbl.

1:00 pm: [BRIEFING.COM] The major averages hold modest midday gains after climbing off their opening lows. The S&P 500 trades higher by 0.2%, while the Nasdaq Composite (+0.1%) follows a bit behind.

This morning, investors were greeted with a disappointing jobs report for August, but the below-consensus reading of 142,000 (Briefing.com consensus 223,000) was actually met with a rally in equity futures. The headline miss was viewed as a potential reason for the Fed to delay its rate hike, causing the morning spike.

Equities slumped from their opening levels amid weakness in several influential sectors, but most of the early laggards are now taking part in the advance. Most notably, the health care sector (+0.1%) has climbed off its low, but biotechnology remains weak at this juncture. The iShares Nasdaq Biotechnology ETF (IBB 268.11, -2.81) is lower by 1.0% after being down as much as 2.0% at the open. The early underperformance stemmed from a big plunge in Gilead Sciences (GILD 103.24, -3.61), which has narrowed its loss to 3.4% from 8.7%.

The continued underperformance of biotechnology helps explain the Nasdaq's inability to keep up with the S&P 500 even as technology (+0.4%) displays strength. Top-weighted tech components like Apple (AAPL 98.61, +0.49), Google (GOOGL 596.49, +3.35), and Facebook (FB 76.62, +0.67) are up between 0.4% and 0.8%, while chipmakers also outperform. The PHLX Semiconductor Index trades higher by 0.5%.

On the downside, the financial sector (-0.1%) is the lone remaining decliner.

Elsewhere, Treasuries surged following the Nonfarm Payrolls report before giving up a portion of the advance. The 10-yr note remains higher by four ticks with its yield down two basis points at 2.43%.

Taking a closer look at the details of today's jobs report:

Nonfarm payrolls increased by 142,000 (Briefing.com consensus 223,000)
July nonfarm payrolls revised to 212,000 from 209,000
June nonfarm payrolls revised to 267,000 from 298,000
Private sector payrolls increased by 134,000 (Briefing.com consensus 200,000)
July private payrolls revised to 213,000 from 198,000
June private payrolls revised to 260,000 from 270,000
Unemployment rate was 6.1% (Briefing.com consensus 6.1%) versus 6.2% in July
Average hourly earnings rose 0.2% (Briefing.com consensus 0.2%) after being unchanged in July
The average workweek was 34.5 hours (Briefing.com consensus 34.5) for the sixth consecutive month
The labor force participation rate was 62.8% versus 62.9% in July

12:35 pm: [BRIEFING.COM] The major averages have climbed to new highs with the S&P 500 up 0.2%.

Most cyclical sectors displayed broad weakness in the early going, but that has changed since then. Energy (+0.2%) and industrials (+0.1%) lagged in the morning, but both groups have now joined technology (+0.5%) among the outperformers.

On the countercyclical side, health care (-0.1%) has climbed off its low, but biotechnology remains weak with the iShares Nasdaq Biotechnology ETF (IBB 268.17, -2.75) down 1.0%.

12:00 pm: [BRIEFING.COM] The Dow Jones Industrial Average and S&P 500 have recaptured their flat lines, while the Nasdaq (-0.1%) continues trailing. The recent rebound has received support from the technology sector (+0.3%), which now trades near its opening high.

Influential sector components are showing strength with Apple (AAPL 98.96, +0.84), Facebook (FB 76.30, +0.34), and Google (GOOGL 595.93, +2.79) up between 0.5% and 0.8%. Similarly, chipmakers trade ahead of the broader market after SanDisk (SNDK 98.07, +1.84) was upgraded to 'Overweight' at Morgan Stanley. Shares of SNDK are higher by 2.1%, while the PHLX Semiconductor Index trades up 0.4%.

Interestingly, the rebound among equities has had little impact on Treasuries, which remain near their best levels of the day. The 10-yr yield is lower by three basis points at 2.42%.

11:30 am: [BRIEFING.COM] Equity indices continue holding modest losses with the S&P 500 (-0.1%) trading within two points of its flat line.

Given the current level, the benchmark index is on course to finish the week with a modest decline of 0.4%. Meanwhile, the Dow holds a week-to-date loss of 0.3%, while the Nasdaq Composite has surrendered 0.6% since last Friday.

Just about every sectors is on track for a lower finish for the week, while consumer staples (+0.3%), industrials (+0.1%), and utilities (+0.3%) have shown relative strength. On the flip side, the energy sector has tumbled 2.4% this week to widen its quarter-to-date loss to 4.0%.

10:55 am: [BRIEFING.COM] The major averages have notched fresh lows after being unable to make a sustained move into the green. The S&P 500 trades lower by 0.2%, while the Nasdaq Composite (-0.3%) and Russell 2000 (-0.5%) underperform.

The top-weighted sector-technology (+0.2%)-has held up relatively well so far, but the same cannot be said for most of the remaining cyclical sectors. The materials sector (-0.1%) is the only other outperformer among growth-sensitive groups, while the countercyclical side looks a little better.

Consumer staples (-0.1%), telecom services (+0.1%), and utilities (+0.6%) outperform, while health care (-0.5%) remains pressured by biotechnology with the iShares Nasdaq Biotechnology ETF (IBB 266.85, -4.07) on track for its fourth consecutive decline. The high-beta ETF has surrendered 3.7% this week, but remains up 3.6% since the start of the third quarter.

10:30 am: [BRIEFING.COM]

Commodities are mixed today with agriculture and metals futures mostly higher and energy futures mostly lower
Gold and silver spiked to new highs on the day following the employment data
However, most of those gains have been erased in recent trade.
Dec gold is now 0.1% at $1268/oz, while Dec silver is +0.01% at $19.14/oz
Oct crude oil has been sliding lower off its overnight HoD and is currently -0.4% at $94.04/barrel
Oct natural gas has been doing largely the same and is now -0.2% at $3.81/MMBtu
Meanwhile, Dec copper futures are +0.2% at $3.16/lb, Dec corn +1.2% at $3.51/bushel.

10:00 am: [BRIEFING.COM] The S&P 500 has lifted off its worst level of the session, but some of the most influential sectors remain on the defensive. Notably, the health care sector (-0.2%) is being pressured by biotech names. The iShares Nasdaq Biotechnology ETF (IBB 269.27, -1.65) is lower by 0.6% with Gilead Sciences (GILD 103.76, -3.20) down 3.0% after being down as much as 8.7% at the open.

Elsewhere, consumer discretionary (-0.2%) and financials (-0.3%) continue showing relative weakness, while technology (+0.2%) outperforms modestly with chipmakers showing strength. The PHLX Semiconductor Index is higher by 0.4%.

9:40 am: [BRIEFING.COM] The major averages spent the initial minutes of the session near their flat lines. The S&P 500 (-0.2%) currently hovers below its unchanged level with six sectors showing opening losses.

Yesterday's leader-consumer discretionary (-0.5%)-has slipped to the bottom of the leaderboard, while other influential sectors like health care (-0.4%), industrials (-0.3%), and financials (-0.3%) also dipped into the red. On the upside, energy (+0.2%) and technology (+0.1%) hold slim gains.

Treasuries remain near their best levels of the day with the 10-yr yield down four basis points at 2.41%.

9:16 am: [BRIEFING.COM] S&P futures vs fair value: -0.30. Nasdaq futures vs fair value: +8.70. The stock market is on track for a flat open as futures on the S&P 500 hover within a point of their unchanged level. Index futures retreated when European markets opened for action, but were lifted back to unchanged after a disappointing jobs report for August crossed the wires.

According to the report, August nonfarm payrolls came in at 142,000, while the Briefing.com consensus expected a reading of 223,000. Nonfarm private payrolls, meanwhile, added 134,000 against the increase of 200,000 expected by the consensus. Although the data point was a clear miss, futures rallied amid speculation a slowdown in the labor market could delay the first fed funds rate hike. Fittingly, Treasuries surged to highs with the 10-yr yield falling four basis points to 2.41%.

Shortly after the jobs report, investors received news that Ukraine's government and pro-Russian rebels have reached a ceasefire agreement, which is set to go into effect later today.

Economic and geopolitical headlines have dominated the morning, while corporate news has been relatively sparse. In the retail space, Gap (GPS 43.76, -2.83) is on track to open lower by 6.1% after reporting a 2.0% decline in August same store sales. Separately, Michael Kors (KORS 76.45, -3.52) holds a pre-market loss of 4.4% after launching a secondary public offering. The broader discretionary sector is higher by 0.3% so far this week versus a 0.3% decline for the S&P 500.

8:59 am: [BRIEFING.COM] S&P futures vs fair value: -1.40. Nasdaq futures vs fair value: +6.20. The S&P 500 futures trade one point below fair value.

Markets weakened across most of Asia to end the week. Notably, the yen weakened to levels last seen in October 2008 (105.72) before finding a bid.

In economic data:
Taiwan's inflation rate climbed to 2.07% year-over-year from 1.75%
The Philippines' core inflation rate jumped to 3.4% year-over-year from 3.0%

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Japan's Nikkei shed 0.1%, falling for the third consecutive day. The weak yen provided support as Fanuc rallied 2.1% and Toyota Motor gained 0.5%.
Hong Kong's Hang Seng shed 0.2%, easing off six-year highs. Casino stocks were pressured as Galaxy Entertainment lost 1.4% and Sands China gave up 1.0%.
China's Shanghai Composite rose 0.9% for its sixth consecutive advance, finishing at its best level since June 2013. Ningbo Port surged the daily limit, 10%, after Beijing announced new measures to support the shipping industry.

Major European indices trade mostly lower, while Germany's DAX (+0.2%) and Spain's IBEX (+0.5%) outperform.

Economic data was limited:
Eurozone GDP was left unrevised at 0.0% quarter-over-quarter, as expected
Germany's Industrial Production rose 1.9% month-over-month (expected 0.3%; prior 0.4%)
French Consumer Confidence held steady at 86 (expected 85)

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Germany's DAX is higher by 0.2% with exporters showing strength. Daimler and Volkswagen trade up 1.9% and 1.2%, respectively. Deutsche Boerse is the weakest performer, down 0.8%.
In France, the CAC holds a loss of 0.2%. Consumer names lag with Carrefour, L'Oreal, and Pernod Ricard down between 0.8% and 2.0%.
Great Britain's FTSE trades down 0.5%. Miners are on the defensive with Fresnillo down 4.6% and Randgold Resources lower by 3.0%. BP outperforms with a gain of 1.3%.
Spain's IBEX is higher by 0.5%. Banco Popular, Banco Sabadell, Bankinter, Caixabank outperform with gains between 0.9% and 2.9%.

8:33 am: [BRIEFING.COM] S&P futures vs fair value: -0.70. Nasdaq futures vs fair value: +2.00. The S&P 500 futures trade one point below fair value.

August nonfarm payrolls came in at 142,000, while the Briefing.com consensus expected a reading of 223,000. Nonfarm private payrolls added 134,000 against the 200,000 expected by the consensus. The unemployment rate ticked down to 6.1%, as expected by the consensus.

Hourly earnings rose 0.2%, which matched the Briefing.com consensus. The average workweek was reported at 34.5, which was also in line with expectations.

8:00 am: [BRIEFING.COM] S&P futures vs fair value: -4.60. Nasdaq futures vs fair value: -0.80. U.S. equity futures trade modestly lower amid cautious action overseas. The S&P 500 futures trade five points below fair value with the entire retreat coming after the start of the European session. The benchmark index will enter the Friday session with a modest week-to-date loss of 0.3%. In all likelihood, the futures market will experience some volatility around 8:30 ET when the latest Nonfarm Payrolls report crosses the wires. The Briefing.com consensus expects the report to indicate the addition of 223,000 payrolls in August.

Treasuries hold slim losses with the 10-yr yield hovering at 2.46%.

The upcoming jobs report will be today's lone economic data point, while things have been even quieter on the corporate front:

Ciena (CIEN 18.90, +0.39): +2.1% following a Goldman Sachs upgrade to 'Buy' from 'Neutral.'
Gap (GPS 43.75, -2.84): -6.1% after reporting a 2.0% decline in August same store sales.
Michael Kors (KORS 76.40, -3.57): -4.5% after launching a secondary public offering.
SanDisk (SNDK 97.50, +1.27): +1.3% after Morgan Stanley upgraded the stock to 'Overweight' from 'Equal-Weight.'

Reviewing overnight developments:

Asian markets ended mostly lower. Japan's Nikkei -0.1%, Hong Kong's Hang Seng -0.2%, and China's Shanghai Composite +0.9%
There was no economic data of note
In news:
According to Nikkei, the approval rating of Japan Prime Minister Shinzo Abe's cabinet saw a double-digit jump to 60% following a reshuffle of the office.

Major European indices trade mostly lower. Germany's DAX -0.2%, France's CAC -0.4%, and Great Britain's FTSE -0.7%. Elsewhere, Italy's MIB -0.3% and Spain's IBEX +0.3%
Economic data was limited:
Eurozone GDP was left unrevised at 0.0% quarter-over-quarter, as expected
Germany's Industrial Production rose 1.9% month-over-month (expected 0.3%; prior 0.4%)
French Consumer Confidence held steady at 86 (expected 85)
Among news of note:
Germany's Finance Minister Wolfgang Schaeuble responded to press reports speculating about disappointing GDP, saying 1.8% growth in 2014 is still within the realm of possibilities.

6:20 am: [BRIEFING.COM] S&P futures vs fair value: -7.00. Nasdaq futures vs fair value: -10.50.

6:20 am: [BRIEFING.COM] Nikkei...15,668.68...-7.50...-0.10%. Hang Seng...25,240.15...-57.80...-0.20%.

6:20 am: [BRIEFING.COM] FTSE...9,708.04...-26.70...-0.40%. DAX...9,708.04...-14.70...-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

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