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 Post subject: November 26th Wednesday Trade Results - Profit $210.00
PostPosted: Thu Nov 27, 2014 3:46 am 
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Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
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 @ $210.00 dollars or +2.10 points, Emini ES ($ES_F) futures @ $0.00 dollars or +00.00 points, Light Crude Oil CL ($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 @ $210.00 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

Trade Log: 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 in ##TheStrategyLab chat room 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=136&t=1943

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=250&t=2561

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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

4:10 pm: [BRIEFING.COM] The major averages ended the session near their best levels of the day with the Nasdaq Composite (+0.6%) finishing in the lead. The S&P 500 rose 0.3% to another record high while the Dow Jones Industrial Average (+0.1%) hovered near its flat line throughout the session.

Meanwhile, the benchmark index spent the day in a slow and steady advance despite a heavy batch of disappointing economic data that was reported this morning. The index did show some signs of defensive posturing as all four countercyclical sectors ended ahead of the market while cyclical sectors traded in mixed fashion.

The telecom services sector (+1.2%) finished in the lead after trending higher throughout the day, but more notably, the heavily-weighted health care sector (+0.7%) posted a solid gain with help from biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 303.87, +4.20) settled higher by 1.4% to extend this week's gain to 3.0%. Conversely, biotechnology helped the Nasdaq spend the day in the lead.

Although biotech provided a measure of support, the Nasdaq also drew significant strength from chipmakers after Analog Devices (ADI 54.56, +2.85) reported better than expected results. The stock spiked 5.5% while the PHLX Semiconductor Index jumped 2.1% with all but one component ending in the green.

The solid gains among chipmakers helped the technology sector (+0.9%) spend the day in a steady uptrend. However, the same could not be said for the remaining cyclical groups. Financials (+0.2%) held a slim gain throughout the day while consumer discretionary (unch), energy (-1.1%), industrials (-0.2%), and materials (+0.1%) lagged.

Notably, the energy sector widened its November loss to 2.8% as crude oil took another leg down, falling 0.5% to $73.75/bbl.

Treasuries spiked following today's data, but slipped into the close. The 10-yr yield ended lower by a basis point at 2.24%.

Intraday participation was well below average, but volume spiked into the close. As a result, just under 685 million shares changed hands at the NYSE floor.

Economic data was plentiful and almost entirely disappointing. Initial claims, durable orders ex-transportation, personal income/spending, Chicago PMI, Michigan Sentiment, and October pending/new home sales all missed expectations while headline durable orders beat:

Initial claims came in at 313,000 (Briefing.com consensus 288,000), which was above the revised prior week count of 292,000 (from 291,000)
Continuing claims fell to 2.316 million from 2.330 million
Durable goods orders increased 0.4% in October following an upwardly revised 0.9% (from -1.3%) decline (Briefing.com consensus -0.6%)
A 45.3% increase in defense aircraft orders helped boost total aircraft demand by 8.7%. The gains in aircraft orders drove overall transportation orders up 3.4% after declining 3.3% in September
Excluding transportation, orders fell 0.9% in October after increasing an upwardly revised 0.2% (from -0.2%) (consensus +0.5%)
Personal income increased 0.2% for a second consecutive month in October (Briefing.com consensus +0.4%)
Personal spending increased 0.2% in October after an upward revision resulted in no change (from -0.2%) in September (consensus +0.3%)
The Chicago PMI for October fell to 60.8 from 66.2 (consensus 63.0)
The University of Michigan Consumer Sentiment report for November was revised down to 88.8 from 89.4 (consensus 90.0)
Pending home sales for October fell 1.1% (expected +0.5%)
New home sales increased 0.7% in October to 458,000 from a downwardly revised 455,000 (from 467,000) (consensus 470,000)
The weekly MBA Mortgage Index fell 4.3% to follow last week's 4.9% increase

Equity markets will be closed tomorrow and Friday's session will end early at 13:00 ET.

Happy Thanksgiving!

Nasdaq Composite +14.6% YTD
S&P 500 +12.1% YTD
Dow Jones Industrial Average +7.6% YTD
Russell 2000 +2.3% YTD

3:35 pm: [BRIEFING.COM]

Oil prices sold off in morning trade as the chance for OPEC to cut its output was looking grim
WTI crude oil ended the day $0.34 lower at $73.75/barrel ahead of OPEC's meeting tomorrow
In electronic trade, Brent crude oil -0.6% at $77.72/barrel, while WTI crude oil is -0.6% at $73.67/barrel
Natural gas futures lost 5 cents to $4.36/MMBtu following storage data
Dec gold fell 50 cents to $1196.80/oz, Dec silver lost 2 cents to $16.53/oz
Dec copper finished unchanged at $2.96/lb

2:55 pm: [BRIEFING.COM] The S&P 500 holds a three-point gain with one hour remaining in the session. We expected today's session to be relatively quiet and the market has yet to dispel that notion going into the home stretch.

Only 315 million shares have changed hands at the NYSE floor, which suggests the final tally will come in below the 200-day average of 700 million shares. Market breadth continues favoring the bulls with 1.5 names trading in the green for each decliner.

Elsewhere, Treasuries have returned to their highs with the 10-yr yield down three basis points at 2.23%.

2:25 pm: [BRIEFING.COM] Recent action saw the S&P 500 (+0.1%) inch away from its afternoon high into the neighborhood of its best level from this morning.

With just one more November session-half-session, actually-remaining, the benchmark index is on track to end November higher by 2.6%. That solid advance puts the S&P 500 behind the Nasdaq, but ahead of the Dow. The tech-heavy Nasdaq has added 3.2% so far in November while the Dow trails with a month-to-date gain of 2.4%.

The technology sector (+0.7%), which outperforms today, is on course to end the month in the lead with a 4.4% gain. The two consumer sectors follow not far behind with gains close to 4.0% apiece while the energy sector represents the weakest performer of the month, down 2.9%.

1:55 pm: [BRIEFING.COM] The S&P 500 (+0.2%) has inched up to a fresh high while the Dow Jones Industrial Average remains near its flat line.

The price-weighted Dow has lagged since the start with 12 of its 30 components trading in the red. Although the majority of the index trades higher, losses among some of the top-weighted components have kept the index near its flat line. To that point, Visa (V 256.60, -0.66), United Technologies (UTX 110.26, -1.45), IBM (161.66, -0.10), and Goldman Sachs (GS 188.31, -0.55) have all contributed to the underperformance of the Dow.

Elsewhere, Treasuries remain near their highs with the 10-yr yield down two basis points at 2.24%.

1:30 pm: [BRIEFING.COM] The main US indices remain mixed at this time with the Nasdaq +0.4% while the Dow Jones is -0.1%. In recent trade, the Dow and Nasdaq seem to be diverging as the Nasdaq works towards its highs of the day while the Dow Jones continues to move gradually lower.

Energy continues to be the weakest sector on the day (-0.9%) as oil remains lower ahead of tomorrow's OPEC meeting. On the other hand, Technology continues to display relative strength (+0.7%) as it leads the Nasdaq higher into the afternoon.

This evening, SemiLeds (LEDS 0.49, +0.03) is the only notable company that is confirmed to report earnings after the close.

Volume continues to be light ahead of a market closure tomorrow for Thanksgiving and then a half day on Friday.

12:55 pm: [BRIEFING.COM] At midday, the major averages trade near their flat lines after spending the first half of action inside narrow ranges. The S&P 500 (+0.1%) currently hovers near the top of its four-point range while the Nasdaq Composite (+0.4%) outperforms.

This morning, investors received an avalanche of economic data with just about every report coming in below expectations. However, the market has been able to look past the disappointing economic news.

Countercyclical sectors are responsible for the bulk of the first half advance with all four defensively-oriented groups trading ahead of the broader market. The telecom services sector (+1.3%) has been rising steadily since the opening bell while the influential health care sector (+0.3%) has received support from biotechnology.

The iShares Nasdaq Biotechnology ETF (IBB 301.57, +1.90) has added 0.6% to extend its week-to-date advance to 2.2%. In turn, the outperformance of biotech has contributed to the relative strength of the Nasdaq.

Furthermore, the tech-heavy index has drawn strength from chipmakers. The PHLX Semiconductor Index trades up 1.5% with all but three components in the green. Analog Devices (ADI 54.58, +2.87) has been a standout performer, trading higher by 5.6% after beating earnings and revenue estimates.

Similar to chipmakers, the broader technology sector (+0.7%) has shown relative strength through the first half. However, top-weighted components are bit mixed with Apple (AAPL 118.62, +1.02) and Microsoft (MSFT 47.94, +0.47) holding gains while Google (GOOGL 547.15, -2.08), IBM (IBM 161.64, -0.12), and Visa (V 255.97, -1.29) lag.

Treasuries jumped in reaction to today's data and have held near their highs since the opening bell. The 10-yr yield is lower by two basis points at 2.24%.

Economic data was plentiful and almost entirely disappointing. Initial claims, durable orders ex-transportation, personal income/spending, Chicago PMI, Michigan Sentiment, and October pending/new home sales all missed expectations while headline durable orders beat:

Initial claims came in at 313,000 (Briefing.com consensus 288,000), which was above the revised prior week count of 292,000 (from 291,000)
Continuing claims fell to 2.316 million from 2.330 million
Durable goods orders increased 0.4% in October following an upwardly revised 0.9% (from -1.3%) decline (Briefing.com consensus -0.6%)
A 45.3% increase in defense aircraft orders helped boost total aircraft demand by 8.7%. The gains in aircraft orders drove overall transportation orders up 3.4% after declining 3.3% in September
Excluding transportation, orders fell 0.9% in October after increasing an upwardly revised 0.2% (from -0.2%) (consensus +0.5%)
Personal income increased 0.2% for a second consecutive month in October (Briefing.com consensus +0.4%)
Personal spending increased 0.2% in October after an upward revision resulted in no change (from -0.2%) in September (consensus +0.3%)
The Chicago PMI for October fell to 60.8 from 66.2 (consensus 63.0)
The University of Michigan Consumer Sentiment report for November was revised down to 88.8 from 89.4 (consensus 90.0)
Pending home sales for October fell 1.1% (expected +0.5%)
New home sales increased 0.7% in October to 458,000 from a downwardly revised 455,000 (from 467,000) (consensus 470,000)
The weekly MBA Mortgage Index fell 4.3% to follow last week's 4.9% increase

12:30 pm: [BRIEFING.COM] The S&P 500 (+0.1%) has inched above its morning high while the Nasdaq (+0.3%) continues holding the lead.

Biotechnology and chipmakers gave an opening boost to the Nasdaq and the two industry areas have built on their early gains. The iShares Nasdaq Biotechnology ETF (IBB 301.33, +1.66) has padded its gain to 0.6% while the PHLX Semiconductor Index is now up 1.4%.

Including today's gains, the biotech ETF is higher by 2.2% since last Friday while the PHLX Semiconductor Index has added 2.3% so far this week.

11:55 am: [BRIEFING.COM] Not much change in the major averages with the S&P 500 trading just a point below its best level of the session. Telecom services (+1.0%) and technology (+0.6%) are the only two sectors that have continued advancing in steady fashion while the remaining groups have been locked in narrow ranges.

Elsewhere, the Treasury has conducted a 7-yr auction, which was roughly in-line with average. The auction drew a yield of 1.96% versus a When Issued yield of 1.955%. Indirect bidders took 50.0% of the supply while direct bids hit just 12.8%, leaving primary dealers with 37.2% of the supply.

The 10-yr note has slipped from its high following the auction, but remains in the green with the benchmark yield lower by two basis points at 2.24%.

11:25 am: [BRIEFING.COM] The major averages continue drifting near their recent levels with the S&P 500 sporting a one-point gain. The benchmark index has held within a three-point range so far today and it wouldn't be too surprising if that range held throughout the session.

Individual sectors are split down the middle with five up and five down. All four countercyclical groups hold gains, but the technology sector (+0.6%) represents the only growth-sensitive group that has spent the first two hours of the session in positive territory. The sector has received a measure of support from its top-weighted component-Apple (AAPL 118.96, +1.36)-which trades higher by 1.2%.

10:55 am: [BRIEFING.COM] The major averages remain near their flat lines with the Nasdaq Composite (+0.3%) trading ahead of the remaining indices.

The tech-heavy index has received support from biotechnology and chipmakers while large cap components of the tech sector (+0.5%) trade in mixed fashion. The iShares Nasdaq Biotechnology ETF (IBB 300.56, +0.89) is higher by 0.3% while the PHLX Semiconductor Index trades up 1.2% with Analog Devices (ADI 53.76, +2.05) in the lead. The stock trades up 4.0% after beating earnings and revenue estimates.

Furthermore, the technology sector has outpaced the remaining cyclical groups. Financials (+0.1%) hold a slim gain while energy (-0.6%), industrials (-0.2%), materials (-0.4%), and consumer discretionary (-0.1%) hover in the red.

10:35 am: [BRIEFING.COM]

Jan WTI crude oil was trading lower this morning ahead of OPEC, as well as the weekly storage that just came out
Following that data, Jan crude barely moved lower.
OPEC is still the primary catalyst moving oil prices
Jan crude oil is now -0.6% at $73.62/barrel
Dec natural gas is +1.2% at $4.45/MMBtu
Dec gold is currently +0.02% at $1197.30/oz, while Dec silver is +0.2% at $16.59/oz
Dec copper remains below $3/lb and is now -0.03% at $2.96/lb

10:00 am: [BRIEFING.COM] The S&P 500 trades higher by 0.1%.

The University of Michigan Consumer Sentiment report for November was revised down to 88.8 from 89.4, while the Briefing.com consensus expected the reading to climb to 90.0.

New home sales in October hit an annualized rate of 458,000, which was up from the revised September rate of 455,000 (from 467,000), but worse than the rate of 470,000 that had been broadly expected by the Briefing.com consensus.

Pending home sales for October fell 1.1%, which was worse than the 0.5% increase forecast by the Briefing.com consensus.

9:45 am: [BRIEFING.COM] The major averages began the session near their flat lines with six sectors showing early gains. The S&P 500 sits right on its flat line with countercyclical health care (+0.5%) and utilities (+0.5%) in the lead.

Similarly, the remaining two defensively-oriented groups also outperform with consumer staples up 0.2% and telecom services trading higher by 0.5%.

On the downside, energy (-1.2%) is under pressure once again as crude oil trades lower by 0.8% at $73.46/bbl. Meanwhile, the remaining groups trade closer to their flat lines.

Just released, the Chicago PMI for November fell to 60.8 from 66.2, while the Briefing.com consensus expected a decrease to 63.0.

9:11 am: [BRIEFING.COM] S&P futures vs fair value: +1.60. Nasdaq futures vs fair value: +4.70. The stock market is on track for a subdued open with futures on the S&P 500 trading two points above fair value. Futures on the benchmark index held inside narrow ranges through the night before slipping to lows in recent action. The downtick in U.S. futures occurred as markets in Europe followed the same pattern, slipping to lows.

Equity indices have been range-bound since the start of the week and today's session is not expected to generate much more excitement. Things will be a bit busier on the economic front with four more reports expected on top of the four that have already been released.

Briefly, initial claims (313,000; Briefing.com consensus 288,000) missed expectations, while durable orders (+0.4%; consensus -0.6%) beat. However, ex-transportation, durable orders came in below expectations (-0.9%; consensus +0.5%). Similarly, Personal income (+0.2%; expected +0.4%) grew at a slower rate than expected, which was also the case with personal spending (+0.2%; consensus +0.3%).

Treasuries climbed to highs in reaction to the data before cutting their gains in half. The 10-yr yield is lower by a basis point at 2.25%.

The Chicago PMI for November will cross at 9:45 ET while the final reading of the Michigan Sentiment Survey for November will be released at 9:55 ET. October New and Pending Home Sales will be reported at 10:00 ET.

8:56 am: [BRIEFING.COM] S&P futures vs fair value: +2.60. Nasdaq futures vs fair value: +7.70. The S&P 500 futures trade three points above fair value.

Markets gained across most of Asia. Traders had to grapple with mixed comments out of Japan as BoJ member Sayuri Shirai suggested even more must be done to reach the central bank's 2.0% inflation target while former Finance Minister Eisuke Sakakibara, aka Mr. Yen, said the depreciation of the currency is near its end.

Economic data was limited:
South Korea's Consumer Confidence slipped to 103 from 105 (expected 105)
Singapore's Industrial Production rose 2.6% month-over-month (expected 3.4%; previous -2.9%) while the year-over-year reading inched up 0.2% (consensus 0.8%; last -1.0%)
Australia's Construction Work Done fell 2.2% quarter-over-quarter (expected -1.7%; previous -1.2%)

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Japan's Nikkei shed 0.1%, but held near seven-year highs. Honda Motor lost 2.9% after admitting to underreporting vehicle defects.
Hong Kong's Hang Seng climbed 1.1% to a two-month high. Insurers saw strong gains as China Life and Ping An surged 7.2% and 3.7%, respectively.
China's Shanghai Composite rallied 1.4% to a three-year high. Brokerage firm Huatai Securities gained the limit, 10%, in its first day of trading since November 14.
India's Sensex added 0.2% to finish just shy of its all-time high.

Major European indices have slipped from their highs with Spain's IBEX (-0.4%) showing the largest decline. ECB Vice President Vitor Constancio said the central bank may begin buying sovereign bonds next quarter. The remark provided a small boost, but expectations for more immediate stimulus from the ECB have been on the rise since last Friday. The benchmark yields for Italy and Spain have declined one basis point to 2.11% and 1.91%, respectively.

In economic data:
Germany's Import Price Index slipped 0.3% month-over-month, as expected, while the year-over-year reading decreased 1.2% (consensus -1.4%; last -1.6%)
Great Britain's CBI Distributive Trades Survey fell to 27 from 31 (expected 28). Separately, Business Investment slipped 0.7% quarter-over-quarter (expected 2.3%; last 3.3%) while the year-over-year reading rose 6.3% (consensus 9.7%; previous 11.0%). Also of note Q3 GDP was left unrevised at 0.7% quarter-over-quarter, as expected
French Consumer Confidence climbed to 87 from 85 (expected 86)
Italy's Consumer Confidence slipped to 100.2 from 101.3 (consensus 101.6)

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Germany's DAX is higher by 0.3% with utilities in the lead. E.On has added 2.3% and RWE leads with a gain of 4.0%. HeidelbergCement is the weakest performer, down 0.6%.
Great Britain's FTSE has returned to its flat line. Miners remain strong with Antofagasta, BHP Billiton, and Randgold Resources up between 1.2% and 4.2%. Discretionary names lag with TUI Travel and Persimmon down 1.4% and 0.9%, respectively.
In France, the CAC is lower by 0.2%. Growth-sensitive names are under pressure with Technip, Lafarge, and Legrand down between 1.3% and 2.6%. GDF Suez outperforms with a gain of 0.9%.
Spain's IBEX has given up 0.4% amid weakness in bank shares. Banco Popular, Banco Sabadell, Bankinter, and Caixabank are down between 1.1% and 1.8%.

8:33 am: [BRIEFING.COM] S&P futures vs fair value: +1.70. Nasdaq futures vs fair value: +4.50. The S&P 500 futures trade two points above fair value.

The latest weekly initial jobless claims count totaled 313,000 while the Briefing.com consensus expected a reading of 288,000. Today's tally was above the revised prior week count of 292,000 (from 291,000). As for continuing claims, they fell to 2.316 million from 2.330 million.

October durable goods orders rose 0.4%, which was better than the 0.6% decrease expected among economists polled by Briefing.com. This comes after the prior month's revised reading reflected a decline of 0.9% (from -1.3%). Excluding transportation, durable orders decreased 0.9% (consensus 0.5%) to follow the prior month's revised increase of 0.2% (from -0.2%).

October personal income increased 0.2%, while the Briefing.com consensus expected an uptick of 0.4%. Meanwhile, personal spending also increased 0.2%, while the consensus expected an increase of 0.3%.

Core PCE prices rose 0.2% while the Briefing.com consensus expected an uptick of 0.1%.

7:57 am: [BRIEFING.COM] S&P futures vs fair value: +2.00. Nasdaq futures vs fair value: +5.50. U.S. equity futures trade little changed amid subdued action overseas. The S&P 500 futures hover two points above fair value after maintaining a five-point range throughout the night. Outside of the jam-packed economic calendar, today's session is not expected to be particularly active with Thanksgiving coming up tomorrow and an abbreviated session on Friday.

Treasuries hover just below their flat lines with the 10-yr yield at 2.26%.

The weekly MBA Mortgage Index fell 4.3% to follow last week's 4.9% increase.

Weekly Initial Claims, October Durable Orders, and October Personal Income/Spending Data will be released at 8:30 ET while the Chicago PMI for November will cross at 9:45 ET. The final reading of the Michigan Sentiment Survey for November will be released at 9:55 ET while October New and Pending Home Sales will be reported at 10:00 ET.

In U.S. corporate news of note:

Deere (DE 85.75, -2.04): -2.3% after its below-consensus guidance for fiscal year 2015 overshadowed better than expected results.
Hewlett-Packard (HPQ 37.12, -0.51): -1.4% after reporting a one-cent beat on below-consensus revenue. The company's Q1 earnings guidance was on the low end of expectations.
ReneSola (SOL 1.88, -0.23): -10.9% after missing estimates.

Reviewing overnight developments:

Asian markets ended mostly higher. Hong Kong's Hang Seng +1.1%, China's Shanghai Composite +1.4%, and Japan's Nikkei -0.1%
Economic data was limited:
South Korea's Consumer Confidence slipped to 103 from 105 (expected 105)
Singapore's Industrial Production rose 2.6% month-over-month (expected 3.4%; previous -2.9%) while the year-over-year reading inched up 0.2% (consensus 0.8%; last -1.0%)
Australia's Construction Work Done fell 2.2% quarter-over-quarter (expected -1.7%; previous -1.2%)
In news:
Bank of Japan member Sayuri Shirai said she would like to see the central bank take its time in reaching the 2.0% inflation target in order to avoid hurting consumers

Major European indices trade in mixed fashion. Germany's DAX +0.5%, Great Britain's FTSE +0.1%, and France's CAC -0.1%. Elsewhere, Italy's MIB +0.1% and Spain's IBEX -0.4%
In economic data:
Germany's Import Price Index slipped 0.3% month-over-month, as expected, while the year-over-year reading decreased 1.2% (consensus -1.4%; last -1.6%)
Great Britain's CBI Distributive Trades Survey fell to 27 from 31 (expected 28). Separately, Business Investment slipped 0.7% quarter-over-quarter (expected 2.3%; last 3.3%) while the year-over-year reading rose 6.3% (consensus 9.7%; previous 11.0%). Also of note Q3 GDP was left unrevised at 0.7% quarter-over-quarter, as expected
French Consumer Confidence climbed to 87 from 85 (expected 86)
Italy's Consumer Confidence slipped to 100.2 from 101.3 (consensus 101.6)
Among news of note:
ECB Vice President Vitor Constancio said the central bank may begin buying sovereign bonds next quarter. The remark provided a measure of support, but expectations for more immediate stimulus from the ECB have been on the rise since last Friday. The benchmark yields for Italy and Spain have declined one basis point to 2.11% and 1.91%, respectively.

6:41 am: [BRIEFING.COM] S&P futures vs fair value: +5.00. Nasdaq futures vs fair value: +11.00.

6:41 am: [BRIEFING.COM] Nikkei...17,383.58...-24.00...-0.10%. Hang Seng...24,111.98...+268.10...+1.10%.

6:41 am: [BRIEFING.COM] FTSE...6,745.66...+14.50...+0.20%. DAX...9,927.44...+66.30...+0.70%.

Dollar’s 2-Day Drop Is First in November on Economic Slowing

By Andrea Wong Nov 26, 2014 5:06 PM ET

The dollar fell, its first two-day decline this month, on concern growth in the U.S. economy is slowing after reports showed jobless claims, equipment orders and new-home sales were weaker than forecast.

Brazil’s real led advances on optimism a former Treasury official will be chosen as finance minister. The yen rose against the dollar as trading patterns showed its declines this month were overdone. The ruble sank after Russia sold less than 10 percent of the bonds originally planned.

“The dollar is a bit softer and it’s consolidating,” said Robert Lynch, a currency strategist at HSBC Holdings Plc in New York. “People would look to the data as a reinforcement of that.”

The Bloomberg Dollar Spot Index, which tracks the greenback against 10 major peers, dropped 0.2 percent to 1,096.91 at 5 p.m. in New York. It touched 1,102.87 yesterday, the highest since 2009.

The greenback dropped 0.2 percent to 117.73 per yen after reaching 118.98 on Nov. 20, the strongest level since August 2007. It fell 0.3 percent to $1.2506 per euro, a third day of decline. The yen weakened 0.1 percent to 147.24 per euro.

Market Direction

The greenback’s 14-day relative-strength index versus the yen was at 74, and every day since Oct. 31 has been above the 70 level that some traders see as a signal an asset may have risen too far, too fast and is due to reverse course.

Japan’s currency leads losses versus the dollar this month, falling 4.6 percent, followed by South Korea’s won, which is down 3.4 percent. New Zealand’s dollar has rallied 1 percent and South Africa’s rand is up 0.8 percent, according to data compiled by Bloomberg.

The U.S. currency has strengthened against all of its 16 major peers this year, with the Swedish krona losing 13 percent and Norway’s krone dropping 11.1 percent.

Brazil’s real surged 1.1 percent today to 2.5015 per dollar on growing optimism that former Treasury Secretary Joaquim Levy would help revive Latin America’s largest economy if appointed finance minister.

A government official with knowledge of the situation said that President Dilma Rousseff will nominate Levy to replace Finance Minister Guido Mantega as soon as tomorrow. Levy could start in the position Nov. 28, the newspaper O Estado de S.Paulo said without saying where it got the information.

Real Rally

“Rousseff’s new finance team has market approval,” Ipek Ozkardeskaya, a strategist at Swissquote Bank SA, said by e-mail. “The announcement should trigger a relief rally.” The ruble fell for a second day and bond yields rose to a five-year high as Russia sold less than 10 percent of the debt it offered in auctions and investors pared bets OPEC will bolster oil prices with an output cut.

The ruble weakened 2.4 percent against the dollar to 47.3880 after Russia sold 603 million rubles ($13 million) of bonds, out of the total 10 billion rubles offered. The currency also slid after Saudi Arabia’s oil minister said there’s no need for producing nations to cut output.

U.S. Labor Department figures showed the pace of improvement in the labor market may have cooled. Jobless claims increased by 21,000 to 313,000 in the week ended Nov. 22, the highest since early September, from 292,000 in the prior period. A decline to 288,000 was forecast in a Bloomberg News survey of economists.

Dollar Trade

“You have the dollar a little weaker in response to the jobless claims numbers,” Nick Bennenbroek, head of currency strategy at Wells Fargo & Co., said in a phone interview. “For the very near term, we’ll probably be going to see some continued dollar consolidation. We know the dollar positioning is quite extended.”

Household purchases rose 0.2 percent, less than the projected 0.3 percent gain in a Bloomberg survey, while bookings for non-military capital goods excluding aircraft unexpectedly fell 1.3 percent for a second straight month, Commerce Department data showed.

Purchases climbed 0.7 percent to a 458,000 annualized pace from a revised 455,000 rate in September that was lower than initially reported. The median forecast of 73 economists surveyed by Bloomberg News called for the pace to accelerate to 471,000.

To contact the reporter on this story: Andrea Wong in New York at awong268@bloomberg.net

To contact the editors responsible for this story: Dave Liedtka at dliedtka@bloomberg.net Paul Cox, Kenneth Pringle

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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