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 Post subject: December 11th Thursday Trade Results - Profit $2690.00
PostPosted: Fri Dec 12, 2014 1:34 am 
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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 @ $2,690.00 dollars or +26.90 points, Emini ES ($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 @ $2,690.00 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=137&t=1956

Quote:
All of my real-time posted trades involves price action concepts from the WRB Analysis free study guide, Advance WRB Analysis Tutorial Chapters 4 - 12 and the Volatility Trading Report (VTR) trade signal strategies. Analysis -----> Trade Signals

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 Advance WRB Analysis Tutorial Chapters @ 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

Analysis -----> Trade Signals

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).

All WRB Analysis Tutorial Chapters 1 - 12 are included in the purchase of the Volatility Trading Report (VTR).

Image Trading Plan Daily Routine @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=252&t=2585

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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

4:15 pm: [BRIEFING.COM] The stock market rebounded from Wednesday's broad-based weakness, but the key indices slipped on an oil slick ahead of the close. The S&P 500 added 0.5% after being up as much as 1.5% intraday to narrow this week's decline to 1.9%.

The Thursday rebound likely included a short covering element as the key indices rallied through the first hour and respected narrow ranges into the afternoon. However, selling into the close pressured the indices from their highs.

Investors received a pre-market confidence boost from a better than expected Retail Sales report and a larger than expected decline in weekly initial claims. In turn, the data helped the Dollar Index (88.59, +0.33) rebound from three consecutive declines. However, the dollar strength wasn't entirely due to economic data as the greenback entered the morning with a solid overnight gain against the yen. The dollar/yen pair climbed to 119.00 (+1.1%), and retraced most of its decline from Wednesday.

The dollar strength acted as a drag on crude oil, which could not hold its overnight gain. Instead, the energy component spent the bulk of the day near its flat line before sliding to its morning low into the pit close to settle lower by 1.6% at $60.02/bbl.

Meanwhile, the energy sector (unch) spiked into the lead at the start, but could not remain in that spot through the late-afternoon decline in crude oil. Similarly, the broader market retreated during the final two hours as crude slid to a new low for the day.

Crude oil's inability to sustain a rebound brought up concerns about the prospect of margin calls, debt repayment capabilities, a global economic slowdown, and just about anything else one can dream up in a negative causality relationship. We're not saying all of that was valid, only that it was enough in the back of the market's mind to keep participants fixated on oil price dynamics as a market mover.

Outside of energy, three of the remaining five cyclical sectors ended in-line with or ahead of the broader market. The consumer discretionary sector (+0.7%) enjoyed broad support from homebuilders and retailers. The iShares Dow Jones US Home Construction ETF (ITB 24.90, +0.12) and SPDR S&P Retail ETF (XRT 91.71, +1.17) gained 0.5% and 1.3%, respectively.

Elsewhere, the technology sector (+0.5%) was underpinned by large cap components like Facebook (FB 77.72, +1.54), Google (GOOGL 532.15, +4.11), and Microsoft (MSFT 47.15, +0.25). The trio gained between 0.5% and 2.0% while high-beta chipmakers also contributed to the advance with the PHLX Semiconductor Index adding 0.5%.

Also of note, the industrials (+0.5%) kept pace with the market which masked relative strength among transport stocks. The Dow Jones Transportation Average added 0.8%.

Over on the countercyclical side, consumer staples (+0.8%), telecom services (+0.6%), and utilities (+1.0%) settled ahead of the broader market while the health care sector (+0.3%) underperformed.

Treasuries slumped in the morning, but recovered the bulk of those losses during the afternoon. The 10-yr yield ticked up one basis point to 2.18%.

Participation was a little ahead of average with 805 million shares changing hands at the NYSE floor.

Economic data included initial claims, retail sales, import/export prices, and business inventories:

The initial claims level fell to 294,000 from an unrevised 297,000 while the Briefing.com consensus expected a decline to 295,000
Over the past few months, the initial claims level has stabilized below 300,000. There is nothing in the data that suggests claims will move out of this range in the near term
Retail sales increased 0.7% in November after increasing an upwardly revised 0.5% (from 0.3%) while the Briefing.com consensus expected an increase of 0.4%
This month's retail sales report was set up for a positive surprise from the start. According to the November employment report, aggregate wages accelerated and increased 0.9% after increasing just 0.3% in October. With the savings rate already at elevated levels relative to current debt payment needs, there was no reason why households would hold on to a large portion of the income gain instead of spending it
Export prices, excluding agriculture, decreased 1.2% in November after decreasing 0.9% in the prior reading
Excluding oil, import prices ticked down 0.2%, which followed last month's 0.2% decline
Business inventories increased 0.2% in October after increasing an unrevised 0.3% in September while the Briefing.com consensus expected an increase of 0.2%
The changes in inventories for manufacturers (0.1%) and merchant wholesalers (0.4%) were known prior to the release. The only piece of new information was that retailer inventories increased 0.2% for a second consecutive month in October
A 0.7% increase at both building materials dealers and clothing stores offset a 0.7% decline at furniture stores and a 0.5% decline at general merchandise stores

Tomorrow, November PPI (Briefing.com consensus -0.1%) will be released at 8:30 ET while the preliminary reading of the December Michigan Sentiment Survey will be reported at 9:55 ET (consensus 89.5).

Nasdaq Composite +12.7% YTD
S&P 500 +10.1% YTD
Dow Jones Industrial Average +6.2% YTD
Russell 2000 +0.2% YTD

3:35 pm: [BRIEFING.COM]

WTI crude oil futures temporarily fell below the $60/barrel level, settling at $60.02/barrel, down $0.95/barrel
Strength in the dollar index added pressure on commodities overall today, as energy and metals all closed lower today
Jan natural gas ended the day $0.06 lower at $3.64/MMBtu, after pulling back from its HoD, which came following its weekly storage data
Precious metals showed only modestly losses today with Feb gold losing $3.80 to close at $1225.60/oz and Mar silver falling $0.06 to $17.12/oz
Mar copper rose 3 cents to $2.92lb

3:00 pm: [BRIEFING.COM] The S&P 500 has narrowed its gain to 0.6% with one hour remaining in the session. The benchmark index has followed in the footsteps of the energy sector (+0.1%), which has slid from the top of the leaderboard to the bottom spot.

The afternoon slump in the energy sector has forced some participants out of the remaining sectors. The money flowing out of equities appears to have been put back to work in the Treasury market where the 10-yr note has recovered the bulk of its intraday decline. The 10-yr note has narrowed its loss to three ticks with the benchmark yield at 2.18% (+1 bps).

2:30 pm: [BRIEFING.COM] The S&P 500 (+0.8%) has taken a couple steps back from its high in a move that saw the energy sector (+0.5%) surrender the bulk of its gain.

It shouldn't come as a surprise that the recent retreat in the energy sector has been fueled by weakness in crude oil. The energy component is lower by 1.7% at $59.92/bbl after falling below its morning low just north of the $60.00/bbl level.

Making matters worse for crude, the Dollar Index (88.71, +0.44) remains just below its best level of the session.

2:00 pm: [BRIEFING.COM] The S&P 500 remains inside a narrow afternoon range just below its session high.

Retail sales increased 0.7% in November after increasing 0.5% in October and easily topped the Briefing.com Consensus expectation of a 0.4% gain.

This month's retail sales report was set up for a positive surprise from the start. According to the November employment report, aggregate wages accelerated and increased 0.9% after increasing just 0.3% in October. With the savings rate already at elevated levels relative to current debt payment needs, there was no reason why households would hold on to a large portion of the income gain instead of spending it.

Core sales, which exclude motor vehicle dealers, gasoline stations, and building material and supplies dealers, increased 0.6% in November after increasing 0.7% in October. These components follow closely with the goods consumption component of GDP and bode well for fourth quarter growth.

Despite the large increase in the continuing claims level this week, overall unemployment claims trends point to a labor market that is at, or near, full employment.

1:30 pm: [BRIEFING.COM] The US markets have cooled off slightly from the earlier highs, but are still sporting solid gains on the day with the S&P 500 up 1.2%.

All ten S&P sectors continue to be notably higher today, recovering from yesterday's steep sell off. Energy remains the top mover on the day (+1.8%). The move higher in energy stocks is especially interesting as oil is actually trading lower on the day. The jump in energy stocks could be a sign that investors are turning the page and view those companies as oversold over the last few weeks following the substantial decline in oil. Crude traded as low as $60.09 earlier before bouncing and now is down just 0.2% on the day.

The $13 bln 30-yr note reopening was strong. It drew a high yield of 2.848% on a bid-to-cover ratio of 2.76, which was above the prior 12-auction average of 2.43.

12:55 pm: [BRIEFING.COM] The major averages trade broadly higher at midday with the Nasdaq Composite (+1.5%) in the lead. The S&P 500 (+1.4%) follows right behind, but both indices have held inside narrow ranges since about 10:30 ET.

Equities spiked out of the gate following a better than expected initial claims and retail sales reports. The upbeat data gave a boost to the Dollar Index (88.67, +0.39), which received another measure of support from overnight weakness in the yen (119.35). All ten sectors rallied at the start with the move likely including a fair share of short covering. The S&P 500 notched its high one hour into the session and has traded inside a four-point range since then.

All ten sectors sport midday gains with nine groups up at least 1.0%. The energy sector (+2.1%) holds the lead while crude oil has endured a volatile session. The energy component is currently lower by 0.4% at $60.68/bbl after sliding from its overnight high and nearing the $60.00/bbl level in the early going.

Outside of energy, influential sectors like consumer discretionary (+1.5%), technology (+1.6%), and industrials (+1.2%) have also provided leadership.

The top-weighted technology sector has received broad support from components of all sizes. Large cap names like Apple (AAPL 113.45, +1.50), Google (GOOGL 536.46, +8.42), and Microsoft (MSFT 47.62, +0.73)sport gains between 1.3% and 1.6% while high-beta chipmakers have also shown strength with the PHLX Semiconductor Index up 1.6%.

Elsewhere, the industrial sector trades a bit behind the S&P 500, but transport stocks outperform with the Dow Jones Transportation Average higher by 1.5%. For its part, the industrial sector has stayed behind the market due to a slim loss in one of its major components. Shares of Boeing (BA 124.57, -0.07) hold a slim loss after sliding below the 50-, 100-, and 200-day moving averages yesterday.

Boeing notwithstanding, today's advance has caused participants to reduce their hedges, as evidenced by a 12.5% drop in the CBOE Volatility Index (VIX 16.22, -2.31). The near-term volatility gauge has pulled back today, but remains well above its closing level from Friday (11.82%), which represented the lowest mark since late August.

Treasuries are on their lows with the 10-yr yield up four basis points at 2.21%.

Economic data included initial claims, retail sales, import/export prices, and business inventories:

The initial claims level fell to 294,000 from an unrevised 297,000 while the Briefing.com consensus expected a decline to 295,000
Over the past few months, the initial claims level has stabilized below 300,000. There is nothing in the data that suggests claims will move out of this range in the near term
Retail sales increased 0.7% in November after increasing an upwardly revised 0.5% (from 0.3%) while the Briefing.com consensus expected an increase of 0.4%
This month's retail sales report was set up for a positive surprise from the start. According to the November employment report, aggregate wages accelerated and increased 0.9% after increasing just 0.3% in October. With the savings rate already at elevated levels relative to current debt payment needs, there was no reason why households would hold on to a large portion of the income gain instead of spending it
Export prices, excluding agriculture, decreased 1.2% in November after decreasing 0.9% in the prior reading
Excluding oil, import prices ticked down 0.2%, which followed last month's 0.2% decline
Business inventories increased 0.2% in October after increasing an unrevised 0.3% in September while the Briefing.com consensus expected an increase of 0.2%
The changes in inventories for manufacturers (0.1%) and merchant wholesalers (0.4%) were known prior to the release. The only piece of new information was that retailer inventories increased 0.2% for a second consecutive month in October
A 0.7% increase at both building materials dealers and clothing stores offset a 0.7% decline at furniture stores and a 0.5% decline at general merchandise stores

12:30 pm: [BRIEFING.COM] Not much change in the market with the S&P 500 (+1.3%) remaining inside a four-point rage that has been in effect since about 10:30 ET.

The key indices did their heavy lifting at the start of the session, but the early rally has been followed by a sideways drift. Thanks to the early strength, the benchmark index has been able to reclaim all but six points from yesterday's plunge. Meanwhile, the Nasdaq (+1.5%) has retraced the entire move from yesterday.

Also of note, Treasuries remain near their lows ahead of today's $13 billion 30-yr bond auction. The benchmark 10-yr yield is higher by four basis points at 2.21%.

12:00 pm: [BRIEFING.COM] Equity indices remain near their highs with the Nasdaq Composite (+1.6%) trading ahead of the S&P 500 (+1.4%).

Both the Nasdaq and S&P 500 have respected narrow ranges in recent action with the S&P 500 spending the past 90 minutes in a four-point range. Meanwhile, today's leading sector-energy (+1.9%)-has ticked down from its high while crude oil hovers right above its flat line at $61.11/bbl after recovering from its low near $60.00/bbl.

Elsewhere, the Nasdaq remains supported by biotechnology and chipmakers. The iShares Nasdaq Biotechnology ETF (IBB 314.06, +5.60) has jumped 1.8% while the PHLX Semiconductor Index trades up 1.6%. Large cap technology sector components also display strength with Apple (AAPL 113.73, +1.78), Microsoft (MSFT 47.72, +0.82), and Google (GOOGL 536.60, +8.56) up between 1.3% and 1.8%.

11:30 am: [BRIEFING.COM] Recent action saw the key indices level off near their highs after a first-hour rally that likely featured a short-covering element.

The early advance has been broad-based and has not suffered from a performance gap between the cyclical sectors and their defensively-oriented counterparts. To that point, the two largest countercyclical groups-health care (+1.4%) and consumer staples (+1.3%)-trade essentially in-line with influential cyclical groups like technology (+1.5%) and consumer discretionary (+1.4%).

The broad strength has caused participants to reduce their hedges, thus sending the CBOE Volatility Index (VIX 16.22, -2.31) lower by almost 13.0%. Despite today's decline, the near-term volatility measure remains higher for the week after ending last Friday's session at 11.82%, which represented the lowest level since late August.

10:55 am: [BRIEFING.COM] The major averages have extended their gains with the S&P 500 now up 1.3%. Nine of ten sectors hold gains of at least 1.0% with the energy space (+2.2%) maintaining the lead.

Despite today's spike, the energy sector is still down 4.0% for the week, which puts the group way at the bottom of this week's leaderboard. The telecom services sector (+0.7%) has surrendered 3.8% so far this week while the third-weakest sector-materials (+1.0%)-is down 2.5% since last Friday.

On the flip side, the utilities sector (+1.3%) is the lone advancer so far this week with the entire gain coming today. For the quarter, the rate-sensitive sector has spiked 9.8%, second only to the health care sector, which is higher by 10.0% since the end of the third quarter.

Elsewhere, Treasuries have continued their retreat. The 10-yr yield has added four basis points to 2.20%.

10:35 am: [BRIEFING.COM]

Natural gas spiked to a new HoD following the weekly EIA storage data and is now
Oil, gold and silver are also spiking
Jan crude is back above $61, now +0.5% at $61.26/barrel
Feb gold is -0.5% at $1223.50/oz, while Mar silver is -0.4% at $17.12/oz
Mar copper is +1.2% at $2.93/lb

10:00 am: [BRIEFING.COM] The S&P 500 trades higher by 1.0% with all ten sectors in the green.

Just released, Business Inventories rose 0.2% in October, which is what the Briefing.com consensus expected. This followed the prior month's unrevised increase of 0.3%.

9:40 am: [BRIEFING.COM] As expected, the major averages climbed out of the gate with support from all ten sectors. The S&P 500 trades higher by 0.9% with the energy sector (+1.0%) in the lead.

The energy space has shown early strength even as crude oil remains lower by 0.6% at $60.60/bbl. Outside of energy, health care (+1.0%), financials (+0.9%), and consumer discretionary (+0.9%) have also displayed opening strength.

Treasuries have extended their decline with the 10-yr yield now up two basis points at 2.19%.

The Business Inventories report for October (consensus 0.2%) will be released at 10:00 ET.

9:09 am: [BRIEFING.COM] S&P futures vs fair value: +8.90. Nasdaq futures vs fair value: +17.50. The stock market is on track for a higher start with futures on the S&P 500 trading nine points above fair value. The current indication suggests the benchmark index will be able to recover a portion of yesterday's 1.6% decline.

Futures climbed to highs after weekly initial claims declined to 294,000 from 297,000 (Briefing.com consensus 295,000) and November retail sales (0.7%; Briefing.com consensus 0.4%) surpassed estimates.

Meanwhile, markets in Asia and Europe have followed yesterday's slide in the U.S. with declines of their own. In Europe, Germany's DAX is the lone exception, trading higher by 0.2%.

Also of note, crude oil traded in the green earlier this morning, but the energy component has slid to a fresh low and is now down 1.1% at $60.27/bbl. Adding to the pressure is a modest rebound in the greenback that has the Dollar Index (88.59, +0.32) trading higher by 0.4%.

Treasuries have slid to lows following today's data. The 10-yr yield is now higher by a basis point at 2.17%.

One more data point remains with the Business Inventories report for October (consensus 0.2%) set to be released at 10:00 ET.

8:52 am: [BRIEFING.COM] S&P futures vs fair value: +9.30. Nasdaq futures vs fair value: +16.70. The S&P 500 futures trade nine points above fair value.

It was a sea of red across Asia as all of the major bourses finished in negative territory. The 'Occupy Central' pro-democracy protest camp in Hong Kong was dismantled after more than 10 weeks of protests. Elsewhere, Bank of Korea held its key rate at 2.00%, as expected. Also of note, the Philippines' central bank kept its key rate unchanged at 4.00% while lowering its inflation outlook. The country received a one-notch upgrade to Baa2 at Moody's.

Participants received several data points:
Germany's CPI was unchanged month-over-month, as expected
French CPI ticked down 0.2% (consensus 0.2%; previous 0.0%)
Italy's Industrial Production ticked down 0.1% month-over-month (expected 0.2%; previous -0.9%) while the year-over-year reading declined 3.0% (expected -1.8%; last -2.7%)

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Japan's Nikkei lost 0.9% and closed at a three-week low. Overnight strength in the yen weighed on exporters as Toyota Motor shed 2.1% and Sony lost 3.6%.
Hong Kong's Hang Seng lost 0.9%, sliding below the 200-day average. Energy plays weighed as Kunlun Energy and Cnooc sank 3.5% and 1.6%, respectively.
China's Shanghai Composite slid 0.5% amid a choppy trade. Brokerage names were hit on profit taking with Citic Securities giving back 5.7%.
India's Sensex fell 0.5% to levels last seen on Halloween. Energy was a drag as ONGC shed 3.2% and led to the downside.

Major European indices trade mostly lower while Germany's DAX (+0.2%) outperforms. In news, Norges Bank unexpectedly cut its key interest rate 25 basis points to 1.25% (consensus 1.5%) and Governor Oeystein Olsen the cut was done with aim to prevent "a severe downturn" in Norway's economy.

Participants received several data points:
Germany's CPI was unchanged month-over-month, as expected
French CPI ticked down 0.2% (consensus 0.2%; previous 0.0%)
Italy's Industrial Production ticked down 0.1% month-over-month (expected 0.2%; previous -0.9%) while the year-over-year reading declined 3.0% (expected -1.8%; last -2.7%)

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UK's FTSE is lower by 0.7% amid broad weakness. Miners Anglo American, Antofagasta, Fresnillo, and Randgold Resources are down between 2.7% and 3.1%. BP and Royal Dutch Shell outperform with gains close to 0.3% apiece.
In France, the CAC trades down 0.4% with Airbus Group leading the slide. The stock has given up 4.4% while Technip is the top performer, up 2.0%.
Germany's DAX has added 0.2%. Fresenius Medical Care and SAP provide support with each trading higher by 1.4%, respectively. Commerzbank weighs, trading lower by 0.5%.
Italy's MIB trades lower by 0.4% with Fiat Chrysler down 6.8% after announcing a secondary share offering.

8:33 am: [BRIEFING.COM] S&P futures vs fair value: +7.70. Nasdaq futures vs fair value: +14.70. The S&P 500 futures trade eight points above fair value.

The latest weekly initial jobless claims count totaled 294,000 while the Briefing.com consensus expected a reading of 295,000. Today's tally was below the unrevised prior week count of 297,000. As for continuing claims, they rose to 2.514 million from 2.372 million.

November retail sales rose 0.7% while the Briefing.com consensus expected an increase of 0.4%. The prior month's reading was revised up to 0.5% from 0.3%. Excluding autos, retail sales increased 0.5%, while the consensus expected an increase of 0.2%.

Export prices, excluding agriculture, decreased 1.2% in November after decreasing 0.9% in the prior reading. Excluding oil, import prices ticked down 0.2%, which followed last month's 0.2% decline.

7:56 am: [BRIEFING.COM] S&P futures vs fair value: +7.60. Nasdaq futures vs fair value: +11.00. U.S. equity futures trade near their highs despite cautious action overseas. The S&P 500 futures hover eight points above fair value after recovering from their overnight lows over the past hour.

Markets around the world have followed in the footsteps of U.S. equities following yesterday's decline. Asian indices retreated across the board while European equities also trade broadly lower.

Also of note, the Dollar Index (88.32, +0.05) is modestly higher again after declining in each of the past three sessions. The dollar/yen pair has rebounded from recent weakness and currently trades higher by about 95 pips at 118.50.

On the commodity front, crude oil trades higher by 0.5% at $61.23/bbl following yesterday's 4.5% plunge.

Weekly Initial Claims (Briefing.com consensus 295K), November Retail Sales (consensus 0.4%), and November Import/Export prices will be reported at 8:30 ET while the Business Inventories report for October (consensus 0.2%) will be released at 10:00 ET.

Treasuries hold modest gains with the 10-yr yield lower by a basis point at 2.15%.

In U.S. corporate news of note:

Ciena (CIEN 16.25, -0.71): -4.2% after reporting an unexpected loss and guiding below consensus.
RadioShack (RSH 0.53, -0.02): -3.6% after missing earnings and revenue estimates.
Lululemon (LULU 46.00, -0.70): -1.5% after its below-consensus revenue and light guidance overshadowed a bottom-line beat.
Staples (SPLS 16.80, +2.04): +13.7% after Starboard Value disclosed a new stake in the office retailer. Peer Office Depot (ODP 7.30, +0.58) has added 8.6% in pre-market after Starboard increased its stake in the company.

Reviewing overnight developments:

Asian markets ended lower. China's Shanghai Composite -0.5%, Japan's Nikkei -0.9%, and Hong Kong's Hang Seng -0.9%
In economic data:
Japan's Core Machinery Orders fell 6.4% month-over-month (expected -1.9%; previous 2.9%) while Tertiary Industry Activity Index slipped 0.2% month-over-month (consensus -0.1%; previous 1.3%)
Australia's MI Inflation Expectations eased to 3.4% from 4.1%. Separately, payrolls increased 42,700 (expected 12,400; previous 13,700) while the Unemployment Rate ticked up to 6.3% from 6.2%, as expected
In news:
The Reserve Bank of New Zealand held its key interest rate at 3.5%, as expected
The Bank of Korea also kept its key interest rate unchanged at 2.0%, as expected
Bank Indonesia completed the trifecta, also holding unchanged at 7.75%, in-line with expectations

Major European indices trade lower across the board. Germany's DAX -0.3%, France's CAC -0.7%, and UK's FTSE -0.9%. Elsewhere, Italy's MIB -0.8% and Spain's IBEX -0.7%
Participants received several data points:
Germany's CPI was unchanged month-over-month, as expected
French CPI ticked down 0.2% (consensus 0.2%; previous 0.0%)
Italy's Industrial Production ticked down 0.1% month-over-month (expected 0.2%; previous -0.9%) while the year-over-year reading declined 3.0% (expected -1.8%; last -2.7%)
Among news of note:
Norges Bank unexpectedly cut its key interest rate 25 basis points to 1.25% (consensus 1.5%) and Governor Oeystein Olsen the cut was done with aim to prevent "a severe downturn" in Norway's economy

6:59 am: [BRIEFING.COM] S&P futures vs fair value: -4.00. Nasdaq futures vs fair value: -5.50.

6:59 am: [BRIEFING.COM] Nikkei...17,257.40...-155.20...-0.90%. Hang Seng...23,312.54...-212.00...-0.90%.

6:59 am: [BRIEFING.COM] FTSE...6,465.04...-35.30...-0.50%. DAX...9,813.14...+13.40...+0.10%.

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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