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 Post subject: February 13th Friday Trade Results - Profit $1840.00
PostPosted: Fri Feb 13, 2015 7:52 pm 
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Joined: Sat Jan 10, 2009 2:06 pm
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Location: Canada
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Business Hours: 8am - 5pm est (Mon - Fri)
questions@thestrategylab.com (24/7)
http://twitter.com/wrbtrader (24/7)

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

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $590.00 dollars or +5.90 points, Emini ES ($ES_F) futures @ $1,250.00 dollars or +25.00 points, Light Crude Oil CL ($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 @ $1,840.00 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=2005

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


4:15 pm: [BRIEFING.COM] The stock market finished a strong week on an upbeat note with the S&P 500 (+0.4%) setting a fresh closing record high at 2,096.99. The benchmark index posted a weekly gain of 2.0% while the Nasdaq Composite (+0.8%) outperformed to end the week higher by 3.2%.

Equity indices climbed out of the gate after the futures market received an early morning boost from a better than expected Eurozone Q4 GDP reading (+0.3%; expected +0.2%) that was largely driven by a 0.7% quarter-over-quarter expansion in Germany (expected 0.3%).

Meanwhile, Greece was not a focal point on Friday, but Eurogroup chief Jeroen Dijsselbloem did say he is "very pessimistic" that Monday's meeting can produce a concrete solution as Greece maintains high ambitions despite limited possibilities.

Six of ten sectors finished in the green with cyclical groups setting the pace, which was the case throughout the week. The energy sector jumped 2.0% to extend its weekly advance to 2.6% thanks to a rally in crude oil. WTI crude advanced 2.9% to $52.67/bbl and held its ground through the release of the latest Baker Hughes U.S. rig count, which revealed a decline of 98 to 1358, representing the 10th consecutive weekly decline.

Another commodity-linked group-materials (+0.9%)-rallied behind miners and steelmakers. Rio Tinto (RIO 49.37, +2.22) surged 4.7% after reporting better than expected results, boosting its dividend 12.0% to $2.15/share, and adding $2 billion to its buyback authorization. As for steelmakers, ArcelorMittal (MT 11.20, +0.74) jumped 7.1% despite reporting a Q4 loss. The broader Market Vectors Steel ETF (SLX 35.20, +1.14) gained 3.4%.

Elsewhere, the top-weighted technology sector (+0.7%) began among the laggards, but ended in a position of relative strength. The influential group finished the week in the lead, up 4.3%, with Apple (AAPL 127.08, +0.62) tacking on 0.5% to extend its weekly gain to 6.9%. Chipmakers kept pace with the sector, sending the PHLX Semiconductor Index higher by 0.7%.

Also of note, the financial sector (-0.1%) lagged throughout the day and its underperformance caused the S&P 500 to make a brief afternoon appearance in the red. However, other sectors held their own through the intraday slip, which in turn, helped the market springboard to a fresh high just ahead of the close.

Meanwhile, countercyclical sectors struggled, but health care (+0.5%) caught up to the market during afternoon action. On the flip side, consumer staples (-0.5%), telecom services (-0.1%), and utilities (-1.6%) settled in the red. Notably, shares of Kraft (KRFT 64.42, -1.75) lost 2.7% after concerns regarding potential currency headwinds overshadowed better than expected results.

Treasuries spent the day in a steady retreat, sending the 10-yr yield higher by five basis points to 2.03%.

Today's participation was below-average, which was the case throughout the week. Only 744 million shares changed hands at the NYSE floor (50-day average 835 mln), which likely reflected some caution ahead of a long weekend, which is expected to include the implementation of a Russia-Ukraine ceasefire on February 15. Despite the scheduled truce, the past two days featured reports of increased clashes in the contested rail hub city of Debaltseve.

Economic data was limited to Import/Export Prices and the advance reading of the Michigan Sentiment Index:
Related Stories

InPlay from Briefing.com Briefing.com
U.S. stocks close at highest level this year on Greece hopes MarketWatch
Dow closes above 18,000 for first time this year MarketWatch
U.S. stocks have best week in two years Fortune
Late surge in the energy sector leaves stock indexes higher Los Angeles Times

Export prices, excluding agriculture, decreased 2.1% in January after decreasing 1.2% in the prior reading
Excluding oil, import prices fell 0.7%, which followed last month's 0.1% decline
The University of Michigan Consumer Sentiment Index declined to 93.6 in the preliminary February reading from 98.1 in January while the Briefing.com consensus expected an increase to 98.3
Despite the large and unexpected decline, the sentiment level is the same as it was in December
The Current Conditions Index declined to 103.1 in February from 109.3 in January while the Expectations Index dropped to 87.5 from 91.0

Bond and equity markets will be closed on Monday for Presidents' Day. On Tuesday, the Empire Manufacturing Index for February will be released at 8:30 ET while the February NAHB Housing Market Index will be reported at 10:00 ET.

Nasdaq Composite +3.3% YTD
S&P 500 +1.9% YTD
Russell 2000 +1.6% YTD
Dow Jones Industrial Average +1.1% YTD

Week in review: Nasdaq Composite Reaches March 2000 Levels

The stock market kicked off the week on a sleepy note with the S&P 500 (-0.4%) spending the day in a 15-point range. The benchmark index settled ahead of the Dow (-0.5%), but that was a small victory considering the S&P 500 finished near its session low. Above all, the trading volume was well below average with just 760 million shares changing hands at the NYSE floor. Equity indices faced some pressure at the start, brought on by lingering concerns about the eurozone after Greek Prime Minster Alexis Tsipras spoke in front of parliament, reiterating his intention to push back against austerity measures imposed by the troika. The concerns contributed to a lower start, but the S&P 500 did not go down without a fight. The index tried to reclaim its flat line, and was able to do so briefly on the third attempt; however, the third time was hardly the charm as a slide to a fresh session low followed.

The major averages snapped their two-day losing streak with a Tuesday rally that allowed the S&P 500 (+1.1%) to settle at its best level of the year. The benchmark index finished ahead of the Dow (+0.8%) and Russell 2000 (+0.6%), but behind the Nasdaq Composite (+1.3%). The rumor mill was active from the early morning, starting with a Bloomberg report indicating the European Commission will propose a six-month extension for Greece. The report cited unnamed sources and was met with a swift denial from the European Commission spokeswoman, who said there is no formal proposal on the table at this time, but talks are "intensive." German Finance Minister Wolfgang Schaeuble also offered a denial, simply calling the report "wrong." Lost in the whirlwind was the fact that the Bloomberg report took place not long after Greek Defense Minister Panos Kammenos entertained the possibility of looking for financial support elsewhere, naming the United States, Russia, and China as potential options. The market rallied happily following the initial report and held its ground through the subsequent denials. The S&P 500 spent the bulk of the early afternoon in a narrow range, but powered to a fresh high ahead of the close. It is worth noting that market breadth did not turn positive until the final 90 minutes, meaning the number of advancers equaled that of decliners even as the market sported a solid gain at midday.

Equity indices ended the midweek session on a mixed note. The S&P 500 settled just below its flat line after respecting a 15-point range while the Nasdaq Composite (+0.3%) outperformed throughout the session. The final NYSE volume (732 million) came in below average, continuing a weeklong trend. However, the limited participation was not all that surprising as some investors treaded lightly, trying to avoid potential whiplash associated with headlines out of Europe. The EU finance ministers meeting took place in Brussels, but hopes for a swift deal were dampened by Germany's Finance Minister Wolfgang Schaeuble who said he did not expect a resolution on Wednesday, echoing comments made by Eurogroup Chief Jeroen Dijsselbloem. Meanwhile, leaders from France, Germany, Russia, and Ukraine met in Minsk, and agreed to reaffirm the cease-fire agreement that was struck at the first Minsk conference on September 5, 2014, but was violated shortly after being put into place.

The market finished the Thursday session on a broadly higher note. The S&P 500 (+1.0%) settled just six points below its record high that was registered in late December while the Nasdaq Composite (+1.2%) outperformed. Equity indices began the day with modest gains and continued their advance in undisturbed fashion throughout the day. However, participation was limited once again with 786 million shares changing hands at the NYSE floor (50-day average 836 million). Stocks received an opening boost after it was confirmed that leaders from France, Germany, Russia, and Ukraine struck a ceasefire agreement, set to go into effect over the weekend. As for Greece, Bloomberg reported that Germany is ready to soften its negotiating stance while Eurogroup chief Jeroen Dijsselbloem and Greek Prime Minister Alexis Tsipras agreed to begin a "technical assessment" of the common ground between Greece and the current program in preparations for the next Eurogroup meeting on Monday.

3:45 pm: [BRIEFING.COM]

WTI crude oil, gold and silver futures traded in positive territory all day today
Mar crude managed to end the day $1.48/barrel higher at $52.67/barrel
Apr gold rose $6.70 to $1227/oz, while Mar silver $0.50 to $17.28/oz
Mar nat gas gained some steam off its LoD and ended today's session at the flat line at $2.80/MMBtu

3:00 pm: [BRIEFING.COM] The S&P 500 trades higher by 0.2% with one hour remaining in the session. The benchmark index has been able to climb off its afternoon low and it currently trades near the middle of today's eight-point range.

The index is now on track to lock in a weekly gain of 1.8%, but it is worth noting that trading volume has been relatively light throughout the week. Wednesday's session generated NYSE volume of 732 million, which represented the fourth-lowest total of the year. The remainder of the week saw a bit more activity, but volumes remained below the 50-day average of 829 million, which is likely to be the case again considering only 450 million shares have changed hands so far today.

2:25 pm: [BRIEFING.COM] The S&P 500 hovers near the middle of today's trading range.

In an environment of low gas prices, skyrocketing equity values, and a greatly improving labor market conditions, one would think that consumers would be pretty happy right now.

Yet, despite these improvements, the University of Michigan Consumer Sentiment Index declined to 93.6 in the preliminary February reading from 98.1 in January. The Briefing.com Consensus expected consumer sentiment to increase to 98.3.

Fortunately, the decline in consumer sentiment is unlikely to have much of an impact on consumption. Consumption follows income and not sentiment trends. As long as income grows, consumption should follow.

1:55 pm: [BRIEFING.COM] Recent action saw the S&P 500 surrender its slim gain due to a wave of selling among financials (-0.3%).

The financial sector returned to its flat line around noon ET and continued lower from there, which in retrospect served as a sign of the impending weakness. Furthermore, the sector is one of just two cyclical groups on track to end the week behind the broader market with a weekly gain of 1.0%.

American Express (AXP 78.05, -2.43) trades lower by 3.0% and is the weakest performer among major sector components. Yesterday, the company announced it will not renew its co-brand and merchant acceptance agreements with Costco (COST 147.14, -0.61), and today shares of AXP have been downgraded to 'Underperform' at Bank of America/Merrill Lynch. Including today's decline, American Express has surrendered 8.2% since last Friday.

Most other major financials hold losses slimmer than 0.6% while Citigroup (C 50.93, +0.04) and Wells Fargo (WFC 55.21, +0.35) remain in the green.

1:30 pm: [BRIEFING.COM] The main U.S. indices have drifted slightly lower since our last update in another quiet trade ahead of the holiday weekend. With the U.S. stock market closed on Monday for President's Day, many traders have already left the desk for the weekend as can be observed by the light volume.

At the top of the hour, Baker Hughes (BHI 64.07, +1.69) released its weekly rig count number which showed the 10th consecutive decline in the total number of U.S. rig counts. In this week's report, the total U.S. rig count declined 98 to 1358. While this weekly data has led to swings in the price of WTI crude (+3.25% to $52.88/bbl) in recent weeks, there was limited reaction today to the numbers.

At 13:30 ET, Dallas Fed President Richard Fisher is expected to speak at a community luncheon in San Antonio, reprising a speech he gave earlier in the week on his reflections about being at the Fed for almost ten years.

12:55 pm: [BRIEFING.COM] The major averages hold modest midday gains with the S&P 500 higher by 0.1% after marking a fresh record high at 2,094.80 this morning. The benchmark index has maintained a five-point range, but hasn't been stopped from extending its weekly gain to 1.8%.

Equities climbed out of the gate after receiving a boost in the futures market in reaction to a better than expected Eurozone Q4 GDP reading (+0.3%; expected +0.2%) that was largely driven by a 0.7% quarter-over-quarter expansion in Germany (expected 0.3%). With regards to Greece, Eurogroup chief Jeroen Dijsselbloem said he is "very pessimistic" that Monday's meeting will produce a concrete solution as Greece maintains high ambitions despite limited possibilities.

The S&P 500 spent the opening 30 minutes in a steady rally, but that move was short-circuited by the release of a disappointing Michigan Sentiment Index for February (93.6; Briefing.com consensus 98.3). Unperturbed, the benchmark index has climbed above its opening high before inching back into the middle of its range, where it currently trades.

Six of ten sectors trade in the green with five of six cyclical groups displaying relative strength. The energy sector has climbed 1.4% to extend its weekly advance to 2.0% while crude oil is higher by 3.6% at $53.02/bbl. This puts the energy component on track for a 2.6% advance since last Friday.

Meanwhile, another commodity-related sector-materials (+0.6%)-is the second-best performer with miners contributing to the strength after Rio Tinto (RIO 48.96, +1.81) reported better than expected results, boosted its dividend, and added $2 billion to its share buyback authorization.

Elsewhere, the top-weighted technology sector (+0.3%) has extended its weekly gain to 3.8%, which puts the sector well ahead of other groups. Apple (AAPL 126.26, -0.20) is largely responsible for this week's outperformance, but the stock is lower by 0.2% today after spiking 6.3% since last Friday.

On the downside, the utilities sector trades lower by 1.7% while the remaining countercyclical groups trade closer to their flat lines.

Treasuries hover near their lows with the 10-yr yield up three basis points at 2.02%.

Economic data was limited to Import/Export Prices and the advance reading of the Michigan Sentiment Index:

Export prices, excluding agriculture, decreased 2.1% in January after decreasing 1.2% in the prior reading
Excluding oil, import prices fell 0.7%, which followed last month's 0.1% decline
The University of Michigan Consumer Sentiment Index declined to 93.6 in the preliminary February reading from 98.1 in January while the Briefing.com consensus expected an increase to 98.3
Despite the large and unexpected decline, the sentiment level is the same as it was in December
The Current Conditions Index declined to 103.1 in February from 109.3 in January while the Expectations Index dropped to 87.5 from 91.0

12:30 pm: [BRIEFING.COM] The stock market continues drifting near its best level of the day with the Nasdaq Composite (+0.4%) in the lead while the S&P 500 (+0.2%) follows not far behind.

The energy sector (+1.4%) holds the lead while other advancers hold gains of no more than 0.6%. As for energy, the growth-sensitive sector is now up 7.6% for the month of February, which puts the group in-line with the materials sector (+0.6%).

Crude oil, which trades higher by 3.2% at $52.84/bbl has factored into today's strength, but the energy component has spent the week in a relatively narrow range. Given its current level, WTI crude is on course to end the week higher by 2.2%.

11:55 am: [BRIEFING.COM] Not much change in the major averages with the S&P 500 (+0.3%) probing its session high.

The top-weighted technology sector (+0.4%) began the day among the laggards after pacing this week's rally, but buyers have remained active, lifting the sector ahead of the broader market. Meanwhile, shares of Apple (AAPL 126.17, -0.29) entered today's session with a 6.3% week-to-date gain, but the stock trades lower by 0.2% today, which is understandable following such an impressive run.

Elsewhere, the financial sector has returned to its flat line after struggling to keep pace with the market through the early portion of today's affair.

11:30 am: [BRIEFING.COM] Recent action saw the S&P 500 (+0.3%) extend to a fresh high. Including its current gain, the benchmark index is on course to end the week higher by 1.8%.

Cyclical sectors are in the lead today and that has been the case throughout the week. To that point, the six cyclical groups are on course to register weekly gains between 1.4% (financials) and 3.8% (technology).

Countercyclical groups, meanwhile, have lagged the broader market, but consumer staples, health care, and telecom services are still on track for respective weekly gains of 1.0%, 1.0%, and 0.3% while the utilities sector has surrendered 2.8% this week.

The weakness in utilities has coincided with some selling in the Treasury market that has the 10-yr yield (2.01%) on track to end seven points above its closing level from last week.

10:55 am: [BRIEFING.COM] The major averages continue holding modest gains with the S&P 500 (+0.2%) hovering within two points of its newly-established record high.

Cyclical sectors remain higher across the board, but the top-weighted technology sector has narrowed its gain to just 0.1% after being up around 0.4% at the start of today's session. Meanwhile, the energy sector (+1.3%) remains near its early high as crude oil trades up 3.6% at $53.06/bbl.

Over on the countercyclical side, health care and telecom services have inched into positive territory, but their gains are negligible at this juncture. On the downside, the utilities sector is lower by 1.1%, extending its February loss to 6.5%.

10:35 am: [BRIEFING.COM]

The dollar index has been trading around the unchanged line today, but this hasn't stopped crude oil, gold and silver from getting a bid
All three commodities have been climbing higher today and are currently near the day's high
Mar WTI crude oil is currently +3.4% at $52.95/barrel
Apr gold is +1% at $1233.00/oz, while Mar silver is +3.4% at $17.36/oz
Mar copper futures are currently -0.4% at $2.59/lb
Natural gas slide lower this morning, but is currently trying to inch higher in current trade and is now -0.8% at $2.69/MMBtu

10:00 am: [BRIEFING.COM] The S&P 500 trades higher by 0.3% after notching a fresh record high.

Just released, the preliminary reading for the University of Michigan Consumer Sentiment survey for February fell to 93.6 from the reading of 98.1 that was reported in January. The Briefing.com consensus expected an uptick to 98.3.

9:45 am: [BRIEFING.COM] The stock market began the day on an upbeat note with the Nasdaq Composite (+0.3%) in the lead once again. Including its early advance, the tech-heavy index is higher by 2.7% for the week versus a 1.8% gain for the S&P 500 (+0.2%).

Six sectors sport opening gains with all six belonging to the cyclical side Energy (+1.1%), materials (+0.6%), and technology (+0.4%) lead while the other three groups follow not far behind.

Meanwhile on the countercyclical side, the utilities sector is lower by 1.4% while heavily-weighted consumer staples (-0.5%) and health care (-0.1%) trade closer to their flat lines.

The consumer staples sector has been pressured by Kraft (KRFT 63.74, -2.43), which has given up 3.7% as concerns of currency-related headwinds overshadowed better than expected earnings.

The advance reading of the Michigan Sentiment Index for February will be released at 10:00 ET (Briefing.com consensus 98.3).

9:11 am: [BRIEFING.COM] S&P futures vs fair value: +3.20. Nasdaq futures vs fair value: +13.50. The stock market is on track for a modestly higher open as futures on the S&P 500 trade three points above fair value. Index futures traded little changed during the early portion of the night, but pulled away from their flat lines after markets in Europe opened for action.

Similar to U.S. futures, European equities hold gains following a set of better than expected GDP readings from the region. To that point, Germany's Q4 GDP expanded 0.7% quarter-over-quarter (expected 0.3%) while the eurozone reading revealed growth of 0.3% (consensus 0.2%).

The increased risk tolerance has given a boost to commodities with crude oil trading higher by 3.0% at $52.78/bbl.

On the corporate front, VF Corp (VFC 72.25, +1.25) is on course to open higher by 1.8% following its in-line report and cautious guidance while CBS (CBS 59.80, +2.03) is higher by 3.5% in pre-market after reporting a one-cent beat.

Treasuries hover in the red with the 10-yr yield up two basis points at 2.01%.

The advance reading of the Michigan Sentiment Index for February will be released at 10:00 ET (Briefing.com consensus 98.3).

8:55 am: [BRIEFING.COM] S&P futures vs fair value: +3.50. Nasdaq futures vs fair value: +14.00. The S&P 500 futures trade four points above fair value.

Asian markets ended mostly higher while Japan's Nikkei (-0.4%) underperformed.

Economic data was limited:
Singapore's Retail Sales fell 2.0% month-over-month (previous -0.7%) while the year-over-year reading increased 2.6% (consensus 5.0%; prior 6.6%)

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Japan's Nikkei fell 0.4% amid weakness in consumer names. Citizen Holdings, Sapporo Holdings, and Kirin Holdings lost between 5.5% and 11.0%.
Hong Kong's Hang Seng ended on its high, climbing 1.1%. Property-related names outperformed with China Resources Land, Hang Lung Properties, and China Overseas Land advancing between 2.2% and 3.0%.
China's Shanghai Composite gained 1.0%. Financials outperformed with China Vanke surging 2.3%.
India's Sensex advanced 1.0% with State Bank of India soaring 8.0% after its earnings report revealed stabilizing bad loans. Oil & Natural Gas Company underperformed, falling 2.0%.

Major European indices trade higher across the board with Spain's IBEX (+2.1%) setting the pace. In news, Russia's Minister of Economic Development, Alexei Ulyukayev, said his country and the Eurozone are close to easing tensions in their relationship.

Participants received several data points:
Eurozone Q4 GDP rose 0.3% quarter-over-quarter (expected 0.2%; prior 0.2%) while the year-over-year reading increased 0.9% (consensus 0.8%; last 0.8%)
Germany's Q4 GDP expanded 0.7% quarter-over-quarter (expected 0.3%; previous 0.1%) while the year-over-year reading increased 1.6% (consensus 1.0%; last 1.2%). Separately, Wholesale Price Index fell 0.4% month-over-month (expected 0.4%; previous -1.0%)
France's Q4 GDP ticked up 0.1% quarter-over-quarter (expected 0.1%; prior 0.3%) while Non-farm Payrolls were unchanged quarter-over-quarter (expected -0.1%; previous -0.2%)
Italy's Q4 GDP was unchanged quarter-over-quarter (expected -0.1%; last -0.1%) while the year-over-year reading contracted 0.3% (consensus -0.4%; previous -0.4%)
Spain's CPI fell 1.6% month-over-month (expected -1.7%; previous -0.6%) while the year-over-year reading declined 1.3% (consensus -1.4%; previous -1.4%)
Swiss PPI fell 0.6% month-over-month, as expected (previous -0.4%)

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Germany's DAX is higher by 0.7% after making its first ever appearance above the 11,000 level. Commerzbank leads, trading higher by 2.4% while Deutsche Bank has climbed 1.5%. Steelmaker ThyssenKrupp is the weakest performer, down 4.7%.
UK's FTSE has climbed 0.7% with miners and energy-related names in the lead. Tullow Oil and BG Group trade higher by 5.7% and 3.7%, respectively while BHP Billiton, Glencore, and Rio Tinto have advanced between 3.0% and 3.8%.
In France, the CAC trades up 1.1% with financials in the lead. BNP Paribas, Credit Agricole, and Societe Generale lead with gains between 2.8% and 4.0%.
Spain's IBEX trades higher by 2.1% amid broad strength. Banco Popular, Bankia, and Caixabank are up between 4.5% and 7.5%

8:32 am: [BRIEFING.COM] S&P futures vs fair value: +3.00. Nasdaq futures vs fair value: +12.70. The S&P 500 futures trade three points above fair value.

Export prices, excluding agriculture, decreased 2.1% in January after decreasing 1.2% in the prior reading. Excluding oil, import prices fell 0.7%, which followed last month's 0.1% decline.

7:58 am: [BRIEFING.COM] S&P futures vs fair value: +2.00. Nasdaq futures vs fair value: +10.70. U.S. equity futures hold modest pre-market gains amid upbeat action overseas. The S&P 500 futures trade two points above fair value after climbing off their lows at the start of the session in Europe.

The overnight session was fairly quiet with markets across Europe climbing after the release of several regional GDP readings that were better than expected. The increased risk appetite has boosted crude oil with the energy component trading higher by 2.2% at $52.34/bbl.

Treasuries hover near their lows with the 10-yr yield higher by almost three basis points at 2.01%.

Import/Export Prices for January will be reported at 8:30 ET while the advance reading of the Michigan Sentiment Index will be released at 10:00 ET (Briefing.com consensus 98.3).

In U.S. corporate news of note:

AIG (AIG 51.34, -1.11): -2.1% after missing earnings estimates.
CBS (CBS 60.00, +2.23): +3.9% following its one-cent beat.
Knowles (KN 17.90, -3.74): -17.3% after missing estimates and guiding lower.
Shutterfly (SFLY 45.95, -1.04): -2.2% after beating estimates and issuing cautious guidance.
VF Corp (VFC 70.84, -0.16): -0.2% in reaction to in-line results and below-consensus guidance.
Zynga (ZNGA 2.33, -0.33): -12.4% after cautious guidance overshadowed in-line results for Q4.

Reviewing overnight developments:

Asian markets ended mostly higher. China's Shanghai Composite +1.0%, Hong Kong's Hang Seng +1.1%, and Japan's Nikkei -0.4%
In economic data:
Singapore's Retail Sales fell 2.0% month-over-month (previous -0.7%) while the year-over-year reading increased 2.6% (consensus 5.0%; prior 6.6%)
In news:
Australia's ASX spiked 2.3% with Rio Tinto (+6.5%) pacing the move following its better than expected earnings report

Major European indices trade higher across the board. Germany's DAX +0.5%, UK's FTSE +0.6%, and France's CAC +0.6%. Elsewhere, Italy's MIB +1.0% and Spain's IBEX +1.8%
Participants received several data points:
Eurozone Q4 GDP rose 0.3% quarter-over-quarter (expected 0.2%; prior 0.2%) while the year-over-year reading increased 0.9% (consensus 0.8%; last 0.8%)
Germany's Q4 GDP expanded 0.7% quarter-over-quarter (expected 0.3%; previous 0.1%) while the year-over-year reading increased 1.6% (consensus 1.0%; last 1.2%). Separately, Wholesale Price Index fell 0.4% month-over-month (expected 0.4%; previous -1.0%)
France's Q4 GDP ticked up 0.1% quarter-over-quarter (expected 0.1%; prior 0.3%) while Non-farm Payrolls were unchanged quarter-over-quarter (expected -0.1%; previous -0.2%)
Italy's Q4 GDP was unchanged quarter-over-quarter (expected -0.1%; last -0.1%) while the year-over-year reading contracted 0.3% (consensus -0.4%; previous -0.4%)
Spain's CPI fell 1.6% month-over-month (expected -1.7%; previous -0.6%) while the year-over-year reading declined 1.3% (consensus -1.4%; previous -1.4%)
Swiss PPI fell 0.6% month-over-month, as expected (previous -0.4%)
Among news of note:
Russia's Minister of Economic Development, Alexei Ulyukayev, said his country and the Eurozone are close to easing tensions in their relationship

6:35 am: [BRIEFING.COM] S&P futures vs fair value: +2.00. Nasdaq futures vs fair value: +13.00.

6:34 am: [BRIEFING.COM] Nikkei...17,913.36...-66.40...-0.40%. Hang Seng...24,682.54...+260.40...+1.10%.

6:34 am: [BRIEFING.COM] FTSE...6,871.41...+43.40...+0.60%. DAX...10,981.00...+61.40...+0.60%.

--------------------------

S&P 500 Sets Fresh Record High

13-Feb-15 16:15 ET

Dow +46.97 at 18019.35, Nasdaq +36.22 at 4893.83, S&P +8.51 at 2096.99
[BRIEFING.COM] The stock market finished a strong week on an upbeat note with the S&P 500 (+0.4%) setting a fresh closing record high at 2,096.99. The benchmark index posted a weekly gain of 2.0% while the Nasdaq Composite (+0.8%) outperformed to end the week higher by 3.2%.

Equity indices climbed out of the gate after the futures market received an early morning boost from a better than expected Eurozone Q4 GDP reading (+0.3%; expected +0.2%) that was largely driven by a 0.7% quarter-over-quarter expansion in Germany (expected 0.3%).

Meanwhile, Greece was not a focal point on Friday, but Eurogroup chief Jeroen Dijsselbloem did say he is "very pessimistic" that Monday's meeting can produce a concrete solution as Greece maintains high ambitions despite limited possibilities.

Six of ten sectors finished in the green with cyclical groups setting the pace, which was the case throughout the week. The energy sector jumped 2.0% to extend its weekly advance to 2.6% thanks to a rally in crude oil. WTI crude advanced 2.9% to $52.67/bbl and held its ground through the release of the latest Baker Hughes U.S. rig count, which revealed a decline of 98 to 1358, representing the 10th consecutive weekly decline.

Another commodity-linked group—materials (+0.9%)—rallied behind miners and steelmakers. Rio Tinto (RIO 49.37, +2.22) surged 4.7% after reporting better than expected results, boosting its dividend 12.0% to $2.15/share, and adding $2 billion to its buyback authorization. As for steelmakers, ArcelorMittal (MT 11.20, +0.74) jumped 7.1% despite reporting a Q4 loss. The broader Market Vectors Steel ETF (SLX 35.20, +1.14) gained 3.4%.

Elsewhere, the top-weighted technology sector (+0.7%) began among the laggards, but ended in a position of relative strength. The influential group finished the week in the lead, up 4.3%, with Apple (AAPL 127.08, +0.62) tacking on 0.5% to extend its weekly gain to 6.9%. Chipmakers kept pace with the sector, sending the PHLX Semiconductor Index higher by 0.7%.

Also of note, the financial sector (-0.1%) lagged throughout the day and its underperformance caused the S&P 500 to make a brief afternoon appearance in the red. However, other sectors held their own through the intraday slip, which in turn, helped the market springboard to a fresh high just ahead of the close.

Meanwhile, countercyclical sectors struggled, but health care (+0.5%) caught up to the market during afternoon action. On the flip side, consumer staples (-0.5%), telecom services (-0.1%), and utilities (-1.6%) settled in the red. Notably, shares of Kraft (KRFT 64.42, -1.75) lost 2.7% after concerns regarding potential currency headwinds overshadowed better than expected results.

Treasuries spent the day in a steady retreat, sending the 10-yr yield higher by five basis points to 2.03%.

Today's participation was below-average, which was the case throughout the week. Only 744 million shares changed hands at the NYSE floor (50-day average 835 mln), which likely reflected some caution ahead of a long weekend, which is expected to include the implementation of a Russia-Ukraine ceasefire on February 15. Despite the scheduled truce, the past two days featured reports of increased clashes in the contested rail hub city of Debaltseve.

Economic data was limited to Import/Export Prices and the advance reading of the Michigan Sentiment Index:

Export prices, excluding agriculture, decreased 2.1% in January after decreasing 1.2% in the prior reading
Excluding oil, import prices fell 0.7%, which followed last month's 0.1% decline
The University of Michigan Consumer Sentiment Index declined to 93.6 in the preliminary February reading from 98.1 in January while the Briefing.com consensus expected an increase to 98.3
Despite the large and unexpected decline, the sentiment level is the same as it was in December
The Current Conditions Index declined to 103.1 in February from 109.3 in January while the Expectations Index dropped to 87.5 from 91.0

Bond and equity markets will be closed on Monday for Presidents' Day. On Tuesday, the Empire Manufacturing Index for February will be released at 8:30 ET while the February NAHB Housing Market Index will be reported at 10:00 ET.

Nasdaq Composite +3.3% YTD
S&P 500 +1.9% YTD
Russell 2000 +1.6% YTD
Dow Jones Industrial Average +1.1% YTD

Week in review: Nasdaq Composite Reaches March 2000 Levels

The stock market kicked off the week on a sleepy note with the S&P 500 (-0.4%) spending the day in a 15-point range. The benchmark index settled ahead of the Dow (-0.5%), but that was a small victory considering the S&P 500 finished near its session low. Above all, the trading volume was well below average with just 760 million shares changing hands at the NYSE floor. Equity indices faced some pressure at the start, brought on by lingering concerns about the eurozone after Greek Prime Minster Alexis Tsipras spoke in front of parliament, reiterating his intention to push back against austerity measures imposed by the troika. The concerns contributed to a lower start, but the S&P 500 did not go down without a fight. The index tried to reclaim its flat line, and was able to do so briefly on the third attempt; however, the third time was hardly the charm as a slide to a fresh session low followed.

The major averages snapped their two-day losing streak with a Tuesday rally that allowed the S&P 500 (+1.1%) to settle at its best level of the year. The benchmark index finished ahead of the Dow (+0.8%) and Russell 2000 (+0.6%), but behind the Nasdaq Composite (+1.3%). The rumor mill was active from the early morning, starting with a Bloomberg report indicating the European Commission will propose a six-month extension for Greece. The report cited unnamed sources and was met with a swift denial from the European Commission spokeswoman, who said there is no formal proposal on the table at this time, but talks are "intensive." German Finance Minister Wolfgang Schaeuble also offered a denial, simply calling the report "wrong." Lost in the whirlwind was the fact that the Bloomberg report took place not long after Greek Defense Minister Panos Kammenos entertained the possibility of looking for financial support elsewhere, naming the United States, Russia, and China as potential options. The market rallied happily following the initial report and held its ground through the subsequent denials. The S&P 500 spent the bulk of the early afternoon in a narrow range, but powered to a fresh high ahead of the close. It is worth noting that market breadth did not turn positive until the final 90 minutes, meaning the number of advancers equaled that of decliners even as the market sported a solid gain at midday.

Equity indices ended the midweek session on a mixed note. The S&P 500 settled just below its flat line after respecting a 15-point range while the Nasdaq Composite (+0.3%) outperformed throughout the session. The final NYSE volume (732 million) came in below average, continuing a weeklong trend. However, the limited participation was not all that surprising as some investors treaded lightly, trying to avoid potential whiplash associated with headlines out of Europe. The EU finance ministers meeting took place in Brussels, but hopes for a swift deal were dampened by Germany's Finance Minister Wolfgang Schaeuble who said he did not expect a resolution on Wednesday, echoing comments made by Eurogroup Chief Jeroen Dijsselbloem. Meanwhile, leaders from France, Germany, Russia, and Ukraine met in Minsk, and agreed to reaffirm the cease-fire agreement that was struck at the first Minsk conference on September 5, 2014, but was violated shortly after being put into place.

The market finished the Thursday session on a broadly higher note. The S&P 500 (+1.0%) settled just six points below its record high that was registered in late December while the Nasdaq Composite (+1.2%) outperformed. Equity indices began the day with modest gains and continued their advance in undisturbed fashion throughout the day. However, participation was limited once again with 786 million shares changing hands at the NYSE floor (50-day average 836 million). Stocks received an opening boost after it was confirmed that leaders from France, Germany, Russia, and Ukraine struck a ceasefire agreement, set to go into effect over the weekend. As for Greece, Bloomberg reported that Germany is ready to soften its negotiating stance while Eurogroup chief Jeroen Dijsselbloem and Greek Prime Minister Alexis Tsipras agreed to begin a "technical assessment" of the common ground between Greece and the current program in preparations for the next Eurogroup meeting on Monday.

http://www.briefing.com/investor/market ... z3RfO9iU8A

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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