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 Post subject: February 5th Thursday Trade Results - Profit $2625.00
PostPosted: Fri Feb 06, 2015 3:28 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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020515-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+2625.00.png [ 179.69 KiB | Viewed 264 times ]

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

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $0.00 dollars or +0.00 points, Emini ES ($ES_F) futures @ $2,625.00 dollars or +52.50 points, Light Crude Oil CL ($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 @ $2,625.00 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=140&t=1999

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=257&t=2664

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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 zoomed higher on Thursday, allowing the S&P 500 (+1.0%) to reclaim its loss from yesterday and then some. The benchmark index erased the remainder of its decline from January while the Dow (+1.2%) and Russell 2000 (+1.3%) outperformed.

Equity indices made the bulk of their advance during the opening hour and spent the rest of the trading day in narrow ranges near their highs. The opening spike took place after investors realized that yesterday's ECB decision to lift a waiver that allowed for the acceptance of Greek government bonds as collateral was political at its core.

For the time being, Greek banks are still allowed to turn to the Bank of Greece, which in turn has access to funds through Emergency Liquidity Assistance from the European Central Bank. To that point, Germany's Die Welt reported that the ECB has granted up to EUR60 billion in funding to the Bank of Greece through ELA channels.

That being said, the negotiations are unlikely to unfold without a hitch, evidenced by today's press conference after Greece's Finance Minister Yanis Varoufakis met with his German counterpart Wolfgang Schaeuble. Mr. Schaeuble said he was advised to say the two "Agreed to disagree," but Mr. Varoufakis countered, saying "We didn't even agree to disagree."

The S&P 500 opened just above its 50-day moving average (2,044) and built on its early gain with the assistance from most sectors. The materials space (+2.4%) finished in the lead while health care (+1.6%) and energy (+1.4%) also outperformed.

The energy sector received a helping hand from crude oil, which followed yesterday's 9.3% plunge with a 4.2% spike to $50.47/bbl. Despite the surge, the energy component remains below its 50-day moving average, which resides in the $55.00/bbl area.

Meanwhile, the health care sector benefitted from strength in the biotech group with the iShares Nasdaq Biotechnology ETF (IBB 319.91, +7.36) climbing 2.4% to snap its four-day losing streak. Furthermore, Dow component Pfizer (PFE 32.99, +0.92) added 2.9% after agreeing to acquire Hospira (HSP 87.64, +22.84) for $90/share, which represents a 38.9% premium to HSP's closing price from yesterday.

Elsewhere among influential sectors, financials (+1.0%), industrials (+1.0%), and technology (+0.9%) finished near the broader market while the consumer discretionary sector (+0.6%) underperformed. Homebuilders struggled amid today's increase in Treasury yields with the iShares Dow Jones US Home Construction ETF (ITB 26.20, -0.15) shedding 0.6%. Also of note, apparel names ended in mixed fashion with Michael Kors (KORS 69.77, -1.61) falling 2.3% after cautious guidance and below-consensus comparable store sales overshadowed a bottom-line beat.

Treasuries retreated, ending near their lows with the 10-yr yield higher by six basis points at 1.81%.

Today's participation was below average with roughly 775 million shares changing hands at the NYSE floor.

Economic data included Initial Claims, Trade Deficit, Productivity/Unit Labor Cost Data, and Challenger Job Cuts:

The initial claims level increased to 278,000 from an upwardly revised 267,000 (from 265,000) while the Briefing.com consensus expected an increase to 290,000
For the first few weeks of January, the initial claims level suddenly accelerated above 300,000. There was no supporting evidence that explained the increase, but we assumed that it must have been the result of increased layoff activities in the oil and gas sector
The trade deficit widened to $46.60 billion in December from a downwardly revised $39.8 billion ($39.0 billion) in November while the consensus expected a decrease to $38.00 billion
According to the advance fourth quarter GDP report, the BEA assumed that the trade deficit would widen in December to roughly $45.00 billion. Not only did the December deficit exceed those expectations but inclusion of the downside November revisions means that the trade deficit will subtract more from GDP growth in the second estimate than it did in the advance release
Nonfarm labor productivity declined 1.8% in the fourth quarter after increasing an upwardly revised 3.7% (from 2.3%) in Q3 2014 while the Briefing.com consensus expected an increase of 0.2%
Unit labor costs increased 2.7% in the fourth quarter after declining in both the second and third quarters. The increase resulted from a 0.9% jump in hourly compensation coupled with lower output gain
The Challenger Job Cuts report for January indicated a 17.6% increase to follow the prior rise of 6.6%

Tomorrow, the Nonfarm Payrolls report for January will be released at 8:30 ET (Briefing.com consensus 235K) while the Consumer Credit report for December will cross at 15:00 ET (consensus $15.00 billion).

Nasdaq Composite +0.6% YTD
Dow Jones Industrial Average +0.4% YTD
Russell 2000 +0.3% YTD
S&P 500 +0.2% YTD

3:40 pm: [BRIEFING.COM]

Oil was at it again today, which was driven by a few catalysts including rising violence in Libya and a declining dollar
Mar crude oil rallied today as high as $52.10/barrel and closed pit trading $2.03 higher at $50.47/barrel
Nat gas was in the red all morning/afternoon and closed $0.06 lower at $2.60/MMBtu
Apr gold lost $1.60 to $1263/oz and Mar silver fell $0.22 to $17.19/oz
Mar copper futures climb slowly higher today off its low and ended $0.01 higher at $2.60/lb

3:00 pm: [BRIEFING.COM] The S&P 500 trades higher by 0.8% with one hour remaining in the session. The benchmark index registered the bulk of its advance during the opening hour and the remainder of the session has featured range-bound action.

Elsewhere, the Dow (+0.9%) continues trading ahead of the S&P 500 with the top-weighted component--Visa (V 269.99, +5.10)-contributing to the outperformance. The stock has jumped 1.9% while the broader technology sector (+0.5%) remains behind the broader market.

2:30 pm: [BRIEFING.COM] Afternoon action continues with the S&P 500 trading higher by 0.8%.

This week has been busy on the economic front and it is set to end in similar fashion with the January jobs report looming tomorrow morning. The Nonfarm Payrolls report will cross at 8:30 ET and the Briefing.com consensus expects the reading to indicate the addition of 235,000 jobs to follow December's 252,000. Meanwhile, the unemployment rate is expected to hold at 5.6%.

Tomorrow's jobs report will be followed by the Consumer Credit report for December (Briefing.com consensus $15.00 billion), which will be released at 15:00 ET.

2:00 pm: [BRIEFING.COM] The S&P 500 has inched to a fresh session high.

The early economic data this month are mainly used to examine future revisions to fourth quarter GDP growth.

On that front, the gains from the positive revisions to shipments of capital goods excluding aircraft from Tuesday's factory orders report were wiped away by today's weaker-than-expected trade balance.

The U.S. trade deficit widened to $46.6 bln in December from a downwardly revised $39.8 bln ($39.0 bln) in November. The Briefing.com Consensus expected the trade deficit to decrease to $38.0 bln.

According to the advance fourth quarter GDP report, the BEA assumed that the trade deficit would widen in December to roughly $45 bln. Not only did the December deficit exceed those expectations but inclusion of the downside November revisions means that the trade deficit will subtract more from GDP growth in the second estimate than it did in the advance release.

Fortunately, the negative revision won't be as large as the headline suggests. For GDP purposes, trade in nonmonetary gold is excluded and a large portion of the increase in the deficit ($1.7 bln) came from that sector.

1:30 pm: [BRIEFING.COM] Range-bound action continues with the S&P 500 bouncing between 2,055 and 2,060. The benchmark index lost 3.1% in January, but it only took four sessions for the index to reclaim that loss. The S&P 500 is currently flat with respect to its 2014 close.

Investors received a full slate of quarterly earnings today, but the market's main focus was on the tumultuous situation in Europe. Another batch of earnings will follow after today's closing bell with a handful of tech names on the schedule. To that end, Activision Blizzard (ATVI 21.85, +0.33), Symantec (SYMC 25.91, +0.31), ON Semiconductor (ONNN 10.31, -0.08), and LinkedIn (LNKD 232.18, +0.15) will report their results this evening.

1:00 pm: [BRIEFING.COM] The major averages sport solid midday gains with the S&P 500 (+0.6%) trading ahead of the Nasdaq Composite (+0.5%), but behind the Dow (+0.8%) and Russell 2000 (+0.8%).

Equity indices charged out of the gate after investors had the chance to digest yesterday's news indicating the European Central Bank lifted a waiver that allowed for the acceptance of Greek government bonds as collateral. Yesterday's selling developed amid concerns this action could put Greece in a credit crunch, but it became clear that the action was of political nature as negotiations between Greece and European authorities continue.

For the time being, Greek banks are still allowed to turn to the Bank of Greece, which in turn has access to funds through Emergency Liquidity Assistance from the European Central Bank. To that point, Germany's Die Welt reported that the ECB granted up to EUR60 billion in funding to the Bank of Greece through ELA channels.

That being said, the negotiations are unlikely to unfold without a hitch, evidenced by today's press conference after Greece's Finance Minister Yanis Varoufakis met with his German counterpart Wolfgang Schaeuble. Mr. Schaeuble said he was advised to say the two "Agreed to disagree," but Mr. Varoufakis countered, saying "We didn't even agree to disagree."

The S&P 500 bounced off its 50-day moving average (2,044) at the start and currently hovers near yesterday's high with all ten sectors showing gains. The materials space (+2.1%) holds the lead while energy (+1.4%) and health care (+1.2%) follow.

Notably, the energy sector has been boosted by crude oil, which trades up 5.7% at $51.21/bbl. The energy component has retraced the bulk of yesterday's loss while the energy sector has extended this week's gain to 5.7%.

Elsewhere, the health care sector has received support from Pfizer (PFE 32.70, +0.63) after the Dow component announced its acquisition of Hospira (HSP 87.66, +22.86) for $90/share, which represents a 38.9% premium to HSP's closing price from yesterday.

Outside of the three leading sectors, most of the remaining groups trade in-line with the broader market. However, the consumer discretionary sector (+0.5%) has struggled to keep pace. Homebuilders lag with the iShares Dow Jones US Home Construction ETF (ITB 26.12, -0.23) lower by 0.9%, and Michael Kors (KORS 69.34, -2.04) trades down 2.9% after cautious guidance and below-consensus comparable store sales overshadowed its earnings beat.

Treasuries hover in the red, but are off their lows with the 10-yr yield up four basis points at 1.79%.

Economic data included Initial Claims, Trade Deficit, Productivity/Unit Labor Cost Data, and Challenger Job Cuts:

The initial claims level increased to 278,000 from an upwardly revised 267,000 (from 265,000) while the Briefing.com consensus expected an increase to 290,000
For the first few weeks of January, the initial claims level suddenly accelerated above 300,000. There was no supporting evidence that explained the increase, but we assumed that it must have been the result of increased layoff activities in the oil and gas sector
The trade deficit widened to $46.60 billion in December from a downwardly revised $39.8 billion ($39.0 billion) in November while the consensus expected a decrease to $38.00 billion
According to the advance fourth quarter GDP report, the BEA assumed that the trade deficit would widen in December to roughly $45.00 billion. Not only did the December deficit exceed those expectations but inclusion of the downside November revisions means that the trade deficit will subtract more from GDP growth in the second estimate than it did in the advance release
Nonfarm labor productivity declined 1.8% in the fourth quarter after increasing an upwardly revised 3.7% (from 2.3%) in Q3 2014 while the Briefing.com consensus expected an increase of 0.2%
Unit labor costs increased 2.7% in the fourth quarter after declining in both the second and third quarters. The increase resulted from a 0.9% jump in hourly compensation coupled with lower output gain
The Challenger Job Cuts report for January indicated a 17.6% increase to follow the prior rise of 6.6%

12:30 pm: [BRIEFING.COM] Quiet action continues with the S&P 500 (+0.7%) trading within three points of its session high. In fact, the benchmark index has respected a five-point range since reaching the 2,055 level around 9:45 ET.

Similarly, most sectors have traded in range-bound fashion with materials (+1.9%), energy (+1.4%), and health care (+1.1%) as the only three groups with gains of 1.0% or more. On the flip side, the telecom services sector (-0.1%) sports a modest loss, but despite the downtick, the countercyclical group is among this week's leaders, only trailing the energy sector, which has spiked 5.7% since last Friday.

Elsewhere, Treasuries have inched away from their lows, but they remain well below their flat lines with the 10-yr yield higher by five basis points at 1.80%.

12:00 pm: [BRIEFING.COM] Equity indices remain bid with the Russell 2000 (+1.0%) trading a little ahead of the S&P 500 (+0.8%).

The materials sector (+2.0%) has claimed the lead while another commodity-related sector-energy (+1.7%)-follows a little behind. Meanwhile, crude oil has continued its charge and is now up 6.8% at $51.72/bbl. The energy component has been able to erase the bulk of yesterday's loss while the sector has extended its February gain to 6.0%, solidifying its spot ahead of the remaining nine groups.

11:25 am: [BRIEFING.COM] Not much change in the market with the major averages hovering near their best levels of the session. The Nasdaq Composite (+0.6%) trades behind the S&P 500 (+0.8%), but the tech-heavy index has been able to turn positive on the year and now sports a year-to-date gain of 0.2%. Meanwhile, the S&P 500 and Dow remain slightly lower (-0.1%) so far in 2015.

With regard to individual sectors, seven groups are now higher for the year while technology, industrials, and financials sport year-to-date losses of 1.3%, 0.9%, and 3.4%, respectively.

Elsewhere, Treasuries remain near their lows with the 10-yr yield up seven basis points at 1.82%.

11:00 am: [BRIEFING.COM] The stock market has continued its advance with the S&P 500 now up 0.8%. Meanwhile, the Nasdaq Composite (+0.6%) trades a bit behind, which is also the case with the technology sector (+0.5%).

Large cap tech names are responsible for the underperformance with Apple (AAPL 119.75, +0.66), Google (GOOGL 527.81, +1.71), Qualcomm (QCOM 67.09, +0.13), and Facebook (FB 75.79, +0.16) up between 0.1% and 0.5%. Similarly, chipmakers trail the broader market with the PHLX Semiconductor Index higher by 0.4%.

The early climb has caused participants to reduce their hedges, evidenced by an 8.7% decline in the CBOE Volatility Index (VIX 16.74, -1.59). The near-term volatility measure now sits about a point above its January low.

10:40 am: [BRIEFING.COM]

Natural gas futures dropped to a new low following the weekly storage data, which showed a draw that was slightly smaller than expected
WTI crude oil is at it again... notable volatility continues
Mar crude traded as low as $47.36/barrel in overnight trade, but rallied as much as 8.3% to $51.27/barrel in trading today
Mar crude has pulled back some in recent trade and is now +4.7% at $50.73/barrel
Apr gold is -0.2% at $1261.60, while Mar silver is -1.7% at $17.10

9:55 am: [BRIEFING.COM] Equity indices have built on their opening gains with the S&P 500 extending its advance to 0.7%. The benchmark index began the day above its 50-day moving average (2,044), which is a level that has been in focus since the start of the year.

Every sector continues trading in positive territory with energy (+1.5%) and health care (+1.5%) jockeying for position. Meanwhile, other influential sectors like financials (+0.6%), consumer discretionary (+0.4%), industrials (+0.5%), and technology (+0.3%) trail the broader market.

Also of note, crude oil has put a dent in yesterday's plunge and currently trades higher by 3.8% at $50.28/bbl.

9:40 am: [BRIEFING.COM] The major averages began the session on an upbeat note with the Dow Jones Industrial Average (+0.5%) trading a step ahead of the S&P 500 (+0.4%).

All ten sectors began the day in the green with energy (+0.9%) and health care (+1.3%) in the lead. The energy sector has been underpinned by a 2.9% increase in the price of crude oil ($49.86/bbl) while health care has been boosted by Dow component Pfizer (PFE 33.00, +0.93), which trades up 2.8% after announcing the acquisition of Hospira (HSP 87.51, +22.71) for $90/share.

Treasuries remain in negative territory with the 10-yr yield up five basis points at 1.80%.

9:15 am: [BRIEFING.COM] S&P futures vs fair value: +8.00. Nasdaq futures vs fair value: +10.20. The stock market is on track for a higher open with S&P 500 futures trading eight points above fair value. The current indication suggests the benchmark index will reclaim the losses that occurred just ahead of yesterday's close when it was reported that the European Central Bank lifted a waiver that allowed for the acceptance of Greek government bonds as collateral. The action could be seen as a bargaining chip ahead of what is setting up to be a contentious negotiation between Greece and its creditors. For the time being, Greek banks are still allowed to turn to the Bank of Greece, which in turn has access to funds through Emergency Liquidity Assistance from the European Central Bank. However, the European Central Bank could stop this aid as negotiations continue ahead of the March deadline when Greece could run out of funds.

Greek Finance Minister Yanis Varoufakis met with German Finance Minister Wolfgang Schaeuble today, with the latter saying the two "Agreed to disagree." The comments were followed by remarks from Mr. Varoufakis who said, "We didn't even agree to disagree," which suggests a long road ahead.

Similar to equity futures, Treasuries have retraced their move from yesterday afternoon. The 10-yr yield is higher by five basis points at 1.80%.

On the economic front, weekly Initial Claims increased to 278,000 from 267,000 while the Briefing.com consensus expected an increase to 290,000. Also of note, the trade deficit widened in December, increasing to $46.60 billion from $39.80 billion (Briefing.com consensus -$38.00 billion).

In corporate news, Pfizer (PFE 33.10, +1.03) is on course to open higher by 3.2% after announcing plans to acquire Hospira (HSP 87.37, +22.57) for $90 per share in cash, which represents a 38.9% premium to HSP's closing price from yesterday.

Also of note, CME Group (CME 89.25, 0.00) announced last evening that it plans to close most open outcry futures trading in Chicago and New York by July.

8:56 am: [BRIEFING.COM] S&P futures vs fair value: +8.50. Nasdaq futures vs fair value: +12.00. The S&P 500 futures trade nine points above fair value.

Asian markets ended mostly lower while Hong Kong's Hang Seng (+0.4%) bucked the trend.

In economic data:
Australia's Retail Sales ticked up 0.2% month-over-month (expected 0.4%; prior 0.1%) while HIA New Home Sales fell 1.9% month-over-month (prior 2.2%)
Indonesia's GDP fell 2.1% quarter-over-quarter (expected -1.5%; previous 3.2%)

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Japan's Nikkei spent the day in the red, losing 1.0%. Hitachi, Okuma, and Mitsubishi Chemical fell between 4.2% and 9.9%. On the upside, Sony surged 12.0% after beating earnings estimates and boosting its outlook.
Hong Kong's Hang Seng outperformed, climbing 0.4%. Property-related names fared well with China Resources Land, China Overseas Land, and China Construction Bank gaining between 1.1% and 3.5%.
China's Shanghai Composite slumped into the close to end lower by 1.2%. Growth-sensitive names lagged with TangShan Port Group and Sailun Jinyu Group both down near 5.5%.
India's Sensex shed 0.1%. Tata Power was the weakest performer, tumbling 7.6%. Technology names outperformed with Wipro and Infosys adding 3.1% and 2.4%, respectively.

Major European indices trade lower across the board with Spain's IBEX (-0.5%) trailing the region. Elsewhere, the Bank of England made no changes to its policy, keeping its key rate and the purchasing program at their respective 0.5% and GBP375 billion.

Participants received several data points:
Eurozone Retail PMI fell to 46.6 from 47.6
Germany's Factory Orders rose 4.2% month-over-month (expected 1.5%; prior -2.4%)
UK's Halifax House Price Index rose 2.0% month-over-month (expected 0.1%; prior 1.1%) while the year-over-year reading increased 8.5% (consensus 7.8%; previous 7.8%)
Swiss SECO Consumer Climate for Q1 improved to -6 from -11 (expected -13)

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In France, the CAC is lower by 0.1%. The index has climbed off its low, but financials remain under pressure with BNP Paribas and Societe Generale down 4.3% and 1.3%, respectively.
Germany's DAX also trades down 0.1%. Utilities E.On and RWE hold respective losses of 1.4% and 2.6% while exporters BMW and Volkswagen trade higher by 1.1% and 2.4%, respectively.
UK's FTSE is lower by 0.2%. AstraZeneca has given up 2.8% after missing earnings estimates. Discretionary names outperform with Capita and Compass Group both up near 1.0%.
Spain's IBEX has given up 0.5% amid weakness in financials. Bankia, Banco Popular, Santander, and Bankinter are down between 1.0% and 2.3%.

8:33 am: [BRIEFING.COM] S&P futures vs fair value: +7.70. Nasdaq futures vs fair value: +10.20. The S&P 500 futures trade eight points above fair value.

The latest weekly initial jobless claims count totaled 278,000 while the Briefing.com consensus expected a reading of 290,000. Today's tally was above the revised prior week count of 267,000 (from 265,000). As for continuing claims, they rose to 2.400 million from 2.394 million.

Separately, the December trade deficit widened to $46.60 billion from $39.80 billion, while the Briefing.com consensus expected the deficit to come in at $38.00 billion.

Also of note, Unit labor costs increased 2.7% during the fourth quarter, which was higher than the 1.2% increase that had been anticipated by the Briefing.com consensus. During the same period, productivity decreased 1.8%, according to the preliminary reading. The consensus expectation was for an increase of 0.2%.

7:58 am: [BRIEFING.COM] S&P futures vs fair value: +7.20. Nasdaq futures vs fair value: +8.50. U.S. equity futures hover near their pre-market highs despite cautious action overseas. The S&P 500 futures trade seven points above fair value after a steady climb off their overnight lows.

Yesterday, the market slumped during the final hour after the European Central Bank lifted a waiver that allowed for the acceptance of Greek government bonds as collateral. The action could be seen as a bargaining chip ahead of what is setting up to be a contentious negotiation between Greece and its creditors. For the time being, Greek banks are still allowed to turn to the Bank of Greece, which in turn has access to funds through Emergency Liquidity Assistance from the European Central Bank.

Meanwhile, Greek Finance Minister Yanis Varoufakis met with German Finance Minister Wolfgang Schaeuble today, with the latter saying the two "Agreed to disagree." The comments were followed by remarks from Mr. Varoufakis who said, "We didn't even agree to disagree."

On the economic front, the Challenger Job Cuts report for January indicated a 17.6% increase to follow the prior rise of 6.6%. Weekly Initial Claims (Briefing.com consensus 290K), December Trade Deficit (consensus $38.00 billion), and Q4 Productivity and Unit Labor Costs data will all be released at 8:30 ET.

Treasuries hover near their lows with the 10-yr yield up four basis points at 1.79%.

In U.S. corporate news:

21st Century Fox (FOXA 32.60, -2.06): -5.9% despite beating earnings expectations. The stock was downgraded to Market Perform at FBR Capital.
AstraZeneca (AZN 69.25, -1.81): -2.6% after missing estimates and guiding in-line with expectations.
Glu Mobile (GLUU 4.60, +0.76): +19.8% following above-consensus results and cautious Q1 guidance. However, the company guided full-year earnings and revenue ahead of analyst estimates.
Michael Kors (KORS 65.00, -6.38): -8.9% after below-consensus comparable store sales and light guidance overshadowed its Q3 beat.
NXP Semiconductors (NXPI 79.55, -0.20): -0.3% despite beating estimates and guiding above consensus.
Under Armour (UA 74.39, +0.82): +1.1% after beating estimates and announcing a pair of acquisitions.

Reviewing overnight developments:

Asian markets ended mostly lower. China's Shanghai Composite -1.2%, Japan's Nikkei -1.0%, and Hong Kong's Hang Seng +0.4%
In economic data:
Australia's Retail Sales ticked up 0.2% month-over-month (expected 0.4%; prior 0.1%) while HIA New Home Sales fell 1.9% month-over-month (prior 2.2%)
Indonesia's GDP fell 2.1% quarter-over-quarter (expected -1.5%; previous 3.2%)
In news:
Sony surged 12.0% in Tokyo after beating earnings estimates and boosting its outlook.

Major European indices trade lower across the board. Germany's DAX -0.1%, UK's FTSE -0.3%, and France's CAC -0.3%. Elsewhere, Spain's IBEX -0.7% and Italy's MIB -0.7%
Participants received several data points:
Eurozone Retail PMI fell to 46.6 from 47.6
Germany's Factory Orders rose 4.2% month-over-month (expected 1.5%; prior -2.4%)
UK's Halifax House Price Index rose 2.0% month-over-month (expected 0.1%; prior 1.1%) while the year-over-year reading increased 8.5% (consensus 7.8%; previous 7.8%)
Swiss SECO Consumer Climate for Q1 improved to -6 from -11 (expected -13)
Among news of note:
The Bank of England made no changes to its policy, keeping its key rate and the purchasing program at their respective 0.5% and GBP375 billion

7:12 am: [BRIEFING.COM] S&P futures vs fair value: +4.50. Nasdaq futures vs fair value: +3.00.

7:12 am: [BRIEFING.COM] Nikkei...17,504.62...-174.10...-1.00%. Hang Seng...24,765.49...+85.70...+0.40%.

7:12 am: [BRIEFING.COM] FTSE...6,834.99...-25.30...-0.40%. DAX...10,873.73...-37.10...-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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