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 Post subject: March 6th Friday Trade Results - Profit $720.00
PostPosted: Fri Mar 06, 2015 5:32 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 @ $720.00 dollars or +7.20 points, Emini ES ($ES_F) futures @ $0.00 dollars or +0.00 points, Light Crude Oil CL ($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 @ $720.00 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=141&t=2022

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=259&t=2687

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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 major averages ended the week on a broadly lower note with the Dow (-1.5%) and S&P 500 (-1.4%) surrendering the bulk of their 2015 gains. The two indices narrowed their respective quarter-to-date gains to 0.2% and 0.6% while the Nasdaq Composite (-1.1%) outperformed and remains higher by 4.0% since the end of 2014.

Equity indices succumbed to selling pressure that began during pre-market action after the February Nonfarm Payrolls report came in ahead of expectations. According to the report, 295,000 payrolls were added last month while the Briefing.com consensus expected a reading of 240,000. The Unemployment Rate fell to 5.5% from 5.7%, but that resulted from shrinking labor force participation. Also of note, hourly earnings increased just 0.1% after a 0.5% increase in January (Briefing.com consensus 0.2%).

In addition to pressuring equities, the better than expected headline number was met with aggressive selling in the Treasury market, sending the 10-yr yield higher by 12 basis points to 2.24%. Altogether, today's congruent weakness in stocks and bonds suggests participants believe this report increased the likelihood that the Fed will hike rates as early as June. That being said, the anemic wage growth provides some ammunition for the other side of the rate hike argument.

What the FOMC is thinking-or what we should say is what the market thinks the FOMC is thinking-is that there is no way wage growth isn't going to accelerate with the type of payroll gains we have seen over the last 12 months. Accordingly, it would be prudent to raise the fed funds rate sooner rather than later (i.e. at or close to the middle of the year). That sentiment was echoed by Richmond Fed President and FOMC voting member, Jeffrey Lacker, who voiced his support for raising rates as early as June.

Given that narrative, the greenback rallied, sending the Dollar Index (97.66, +1.28) to its highest level since September 2003. Conversely, that strength weighed on commodities like gold (1164.20/ozt, -32.00) and crude oil (49.62/bbl, -1.14) with crude notching its low after the latest Baker Hughes rig count revealed the 13th consecutive weekly decline in the number of operational oil and gas rigs in the U.S. (down 75 to 1192).

On a related note, the energy sector (-1.7%) settled behind the other cyclical groups, but it was the countercyclical side that faced the most aggressive selling. The utilities sector lost 3.1% to widen its 2015 decline to 8.8% while consumer staples (-1.9%), health care (-1.9%), and telecom services (-1.5%) settled a bit closer to the broader market.

Meanwhile, most cyclical sectors ended near the S&P 500 while financials (-0.8%), consumer discretionary (-1.2%), and technology (-1.2%) outperformed slightly. The financial sector began the day with a solid gain, but succumbed to the overall market pressure. The early strength followed last night's news that all 31 major banks cleared the Fed's baseline for required capital levels.

As for the top-weighted technology sector, the group spent the day ahead of the broader market thanks to the shares of Apple (AAPL 126.60, +0.19). The largest stock by weight ended flat, but was up more than 2.0% after the Wall Street Journal reported the stock will replace AT&T (T 33.48, -0.52) in the Dow Jones Industrial Average on Thursday, March 19.

Apple's daylong retreat from its early high proved that the Friday session focused more on the broad macro environment rather than moves among individual stocks.

For the first time this week, NYSE floor volume crossed the 750 million mark as more than 883 million shares changed hands.

Economic data reported this morning was limited to Nonfarm Payrolls and Trade Balance:

Nonfarm payrolls added 295,000 jobs in February after adding a downwardly revised 239,000 (from 257,000) while the Briefing.com consensus expected an increase of 240,000
It is difficult to label this report as good. Headline payrolls topped expectation, which is obviously a good result; however, average hourly earnings increased marginally (0.1%) after growing by 0.5% in January
Lackluster wage growth combined with the improvement in payrolls led to a 0.4% increase in aggregate wages. To put that in perspective, even after the downward revision to the January payroll numbers, aggregate income increased a much stronger 0.7% last month
Since consumption growth and economic growth in general follow the trend in income, the February employment results were decidedly worse than January even though this month's headline payroll number far exceeded both expectations and the prior level.
The unemployment rate fell to 5.5% in February from 5.7% in January while the consensus expected a drop to 5.6%
The decline was completely due to another exodus in labor market participation that dropped the participation rate to 62.8% from 62.9% in January
The U.S. trade deficit declined to $41.80 billion in January from a downwardly revised $45.60 billion (from $46.60 billion) while the Briefing.com consensus expected a decline to $42.00 billion
The goods deficit declined by $3.40 billion to $61.60 billion from $65.00 billion. The services surplus increased to $19.90 billion from $19.40 billion, a gain of $0.50 billion

Monday's session will be free of economic data.

Nasdaq Composite +4.0% YTD
Russell 2000 +1.1% YTD
S&P 500 +0.6% YTD
Dow Jones Industrial Average +0.2% YTD

Week in Review: Sliding From Record Highs

The first trading day of March was a good day for the stock market and a lousy day for the Treasury market. The former rallied, featuring a return above 5,000 for the Nasdaq Composite and new record closes for both the Dow Jones Industrial Average and S&P 500. The latter, meanwhile, languished and perhaps breathed some added life into the stock market on rebalancing efforts. To be fair, both the stock and bond markets had reason to advance today. The People's Bank of China cut its key lending rate by 25 basis points to 5.35% and each piece of economic data out of the U.S. fell short of consensus estimates. While the rout in the Treasury market was unfolding, a rally in the stock market was playing out, suggesting perhaps that a rotational move out of Treasuries and into stocks was helping to support things.

The stock market endured a broad-based retreat on Tuesday that caused the S&P 500 (-0.5%) to surrender the bulk of its advance from Monday. The benchmark index settled ahead of the Nasdaq Composite (-0.6%) with eight sectors registering losses. All in all, it is worth pointing out that the pullback occurred after the S&P 500 rallied nearly 3.5% in just three weeks, suggesting the retreat resulted from profit taking after a big run. Equity indices began the day amid pressure from a few influential sectors like health care (-0.9%), technology (-0.8%), and industrials (-0.7%). The three sectors lagged throughout the day while the remaining sectors finished closer to their flat lines.

Equity indices registered their second consecutive retreat on Wednesday with the S&P 500 losing 0.4%. The benchmark index managed to cut its loss in half by the closing bell while the Nasdaq Composite (-0.3%) outperformed. For the second day in a row, the market opened amid broad pressure, but heavily-weighted health care and technology sectors hit their lows during the opening hour and climbed off those lows into the afternoon. The health care sector (+0.4%) registered a modest gain while technology (-0.3%) finished ahead of most other cyclical sectors.

The market ended Thursday on a modestly higher note with the Nasdaq Composite (+0.3%) settling in the lead while the S&P 500 (+0.1%) ended just above its flat line. In a way, the Thursday session fit right in with recent affairs as equity indices maintained narrow ranges amid light volume. The S&P 500 spent the day inside a nine-point range while NYSE floor volume totaled fewer than 675 million shares (50-day average 766 million). Six of ten sectors registered gains with three of four countercyclical groups ending ahead of the broader market. To that point, consumer staples (+0.3%), health care (+0.4%), and utilities (+0.8%) spent the day ahead of the S&P while telecom services (-0.1%) lagged.

3:40 pm: [BRIEFING.COM]

WTI crude oil futures slid lower today and fell as low as $48.88/barrel
Apr WTI crude ended the day $1.14 lower at $49.62/barrel
Natural gas wasn't very exciting today with the Apr contract ending flat at $2.84/MMBtu
Gold, silver and copper held losses today
Apr gold finished the day $32.00 lower to $1164.20/oz, while May silver closed $0.98 lower to $15.81/oz
May copper closed $0.04 lower to $2.61/lb

3:00 pm: [BRIEFING.COM] The S&P 500 trades lower by 1.5% with one hour remaining in the session.

The Consumer Credit report for January was just released by the Federal Reserve and it showed an increase of $11.60 billion. That was lower than the Briefing.com consensus estimate of $14.00 billion. The prior month's credit growth was revised to $17.90 billion from $14.80 billion.

2:30 pm: [BRIEFING.COM] Not much change in the market with the major averages trading just above their session lows. The Dow Jones Industrial Average (-1.5%) is the weakest performing index, narrowing its quarter-to-date gain to 0.3%.

Meanwhile, the soon-to-be Dow member-Apple (AAPL 127.03, +0.62)-has narrowed its gain to 0.5% after being up almost 2.5% in the early going. As a result of Apple's slide from highs, the technology sector is now lower by 1.0% after trading well ahead of the broader market earlier today.

The Consumer Credit report for January will be released at 15:00 ET (Briefing.com consensus $14.00 billion).

1:55 pm: [BRIEFING.COM] Equity indices remain near their session lows.

The headline beat in the February employment report took a back seat to lackluster wage growth.

Nonfarm payrolls added 295,000 jobs in February after adding a downwardly revised 239,000 (from 257,000) in January. The Briefing.com Consensus expected nonfarm payrolls to increase by 240,000 new jobs. It is difficult to label this report as good.

Headline payrolls topped expectation, which is obviously a good result. However, average hourly earnings increased marginally (0.1%) after growing by 0.5% in January.

Lackluster wage growth combined with the improvement in payrolls led to a 0.4% increase in aggregate wages. To put that in perspective, even after the downward revision to the January payroll numbers, aggregate income increased a much stronger 0.7% last month.

Since consumption growth, and economic growth in general, follow the trend in income, the February employment results were decidedly worse than January even though this month's headline payroll number far exceeded both expectations and the prior level.

That is not to say that the employment data should be labeled as bad. It's just not nearly as strong as the headline suggested.

1:30 pm: [BRIEFING.COM] The major U.S. indices remain under heavy pressure as they set new session lows. If they maintain these levels, it will be the S&P 500's first 1% decline since January.The decline in the Dow Jones Industrial Average is outpacing the other major U.S. stock exchanges with notable declines in higher-priced Dow components IBM (IBM 125.83, -2.35), Visa (V 270.63, -3.50) and Goldman Sachs (GS 187.28, -2.80) weighing.

In energy, Baker Hughes (BHI 61.40, -0.70) released its weekly rig data which showed the 13th consecutive decline in the weekly total U.S. rig count (down 75 to 1192). WTI crude (-2.7% to $49.39) initially saw a quick pop on the report, but has since cooled back down and is setting new session lows.

A spike in Treasury yields following the February employment report has left utilities (-3.2%) as the worst performing S&P sector by a notable margin.

12:55 pm: [BRIEFING.COM] The major averages sit on their lows at midday with the Dow Jones Industrial Average (-1.3%) trailing the S&P 500 (-1.2%) and Nasdaq Composite (-0.9%).

Equity indices have spent the first half of the trading day in a steady retreat with all ten sectors in the red. In fact, the selling pressure became apparent in the futures market after the Nonfarm Payrolls report came in ahead of expectations. According to the report, 295,000 payrolls were added in February while the Briefing.com consensus expected a reading of 240,000. The Unemployment Rate fell to 5.5% from 5.7%, but that resulted from shrinking labor force participation. Also of note, hourly earnings increased just 0.1% after a 0.5% increase in January (Briefing.com consensus 0.2%).

The better than expected headline number has been met with aggressive selling in the Treasury market, sending the 10-yr yield higher by 13 basis points to 2.25%. Overall, the congruent weakness in stocks and bonds suggests participants believe this report increases the likelihood that the Fed could hike rates as early as June. That being said, the anemic wage growth provides some ammunition for the other side of the rate hike argument.

On a related note, the Dollar Index (97.66, +1.29) trades higher by 1.3% while gold ($1165.60/ozt) and crude oil ($49.63/bbl) have given up 2.6% and 2.2%, respectively.

Eight of ten sectors trade in-line with or behind the broader market, which underscores the broad-based nature of today's selloff that has pressured the S&P 500 to levels last seen in mid-February.

Understandably, the sharp spike in yields has pressured rate-sensitive sectors like telecom services (-1.4%) and utilities (-3.1%) while the other countercyclical sectors-consumer staples (-1.8%) and health care (-1.6%)-also trail the broader market.

Meanwhile on the cyclical side, only financials (-0.4%) and technology (-0.8%) have been able to stay ahead of the S&P 500. Major financials are expected to benefit from rising rates at the long end of the yield curve, and last evening's news that all 31 major banks cleared the baseline for required capital levels served up another measure of support.

For its part, the technology sector outperforms with help from Apple (AAPL 127.75, +1.34). The largest stock by weight is higher by 1.1% after the Wall Street Journal reported the stock will replace AT&T (T 33.48, -0.52) in the Dow Jones Industrial Average on Thursday, March 19.

Economic data reported this morning was limited to Nonfarm Payrolls and Trade Balance:

Nonfarm payrolls added 295,000 jobs in February after adding a downwardly revised 239,000 (from 257,000) while the Briefing.com consensus expected an increase of 240,000
It is difficult to label this report as good. Headline payrolls topped expectation, which is obviously a good result; however, average hourly earnings increased marginally (0.1%) after growing by 0.5% in January
Lackluster wage growth combined with the improvement in payrolls led to a 0.4% increase in aggregate wages. To put that in perspective, even after the downward revision to the January payroll numbers, aggregate income increased a much stronger 0.7% last month
Since consumption growth and economic growth in general follow the trend in income, the February employment results were decidedly worse than January even though this month's headline payroll number far exceeded both expectations and the prior level.
The unemployment rate fell to 5.5% in February from 5.7% in January while the consensus expected a drop to 5.6% The decline was completely due to another exodus in labor market participation that dropped the participation rate to 62.8% from 62.9% in January
The U.S. trade deficit declined to $41.80 billion in January from a downwardly revised $45.60 billion (from $46.60 billion) while the Briefing.com consensus expected a decline to $42.00 billion
The goods deficit declined by $3.40 billion to $61.60 billion from $65.00 billion. The services surplus increased to $19.90 billion from $19.40 billion, a gain of $0.50 billion

The Consumer Credit report for January will be released at 15:00 ET (Briefing.com consensus $14.00 billion).

12:25 pm: [BRIEFING.COM] The S&P 500 (-1.2%) has returned near its session low after staging a small, four-point rebound. It appears sellers may have caught a second wind as all but three cyclical sectors are back among the laggards.

Similar to the broader market, the financial sector (-0.6%) has dropped to a new low after starting the day in positive territory. The sector is now down 2.1% for the quarter versus a 0.8% gain for the S&P 500.

The renewed selling pressure has caused participants to seek more downside protection, evidenced by the CBOE Volatility Index (VIX 15.58, +1.54), which is now on track for its highest close since February 17.

11:55 am: [BRIEFING.COM] Equity indices continue searching for support with the S&P 500 now down 1.0%.

Although the market sits on its session low, the selling pressure could be easing up considering the number of underperforming sectors has declined to five from seven during our last update. Furthermore, only one cyclical sector-materials (-1.2%)-displays a loss larger than the broader market.

Of course, the current dynamic could change in a hurry, but there is some reason to believe the S&P 500 will try to pull away from its session low as we head into the afternoon.

Treasuries remain near their lows with the 10-yr yield higher by 12 basis points at 2.24%.

11:25 am: [BRIEFING.COM] Recent action saw the major averages drop to fresh lows for the day. The S&P 500 has widened its decline to 0.9% while the top-performing sector-financials (-0.2%)-has turned negative.

Outside of financials, seven of the remaining nine sectors trade with losses larger than the broader market, which highlights the heavy selling pressure. Meanwhile, the S&P 500 has slid to levels last seen in the middle of February.

The steady selling in equities has been accompanied by weakness in Treasuries with the 10-yr yield now up 12 basis points at 2.23%.

Also of note, the CBOE Volatility Index (VIX 15.16, +1.12) has returned above the 15.00% mark after making a brief appearance north of that level on Wednesday.

10:55 am: [BRIEFING.COM] The Dow (-0.7%) and S&P 500 (-0.6%) have slipped to new lows for the session while the Nasdaq Composite (-0.2%) hovers at its best level of the day.

The Nasdaq has been able to stay ahead of the broader market thanks to a solid 1.7% gain in Apple (AAPL 128.61, +2.20) after it was reported the stock will join the Dow. Apple's gain has helped the technology sector (unch) spend the early action near its flat line even as most other heavily-weighted sector components trade in the red.

The tech-heavy index has also been able to overcome weakness among biotech names. The iShares Nasdaq Biotechnology ETF (IBB 345.61, -2.06) trades lower by 0.6%, ahead of the Nasdaq Composite and in-line with the S&P 500.

10:35 am: [BRIEFING.COM]

The dollar index spiked to new highs on the day following the jobs data
This weighed on select commodities, especially gold, silver, copper and oil futures
Dollar index is now +1.32 at 97.55
Apr crude oil is -1.1% at $50.22/barrel
Apr natural gas -0.7% at $2.82/MMBtu
Apr gold -1.8% at $1174.40/oz
May silver -2.1% at $15.83/oz
May copper -1.5% at $2.61/lb
Gold, silver and copper are all near today's lows here, while energy is recovering some

10:00 am: [BRIEFING.COM] Equity indices remain near their opening lows with eight sectors trading behind the S&P 500 (-0.3%).

On the flip side, the financial sector has extended its gain to 0.9% while technology (+0.2%) now hovers in the green with Apple (AAPL 128.88, +2.47) higher by 2.0% after the Wall Street Journal reported the largest stock by weight will replace AT&T (T 33.54, -0.45) in the Dow Jones Industrial Average on Thursday, March 19.

9:40 am: [BRIEFING.COM] The major averages began the under pressure with the Dow Jones Industrial Average (-0.5%) leading the opening retreat. Meanwhile, the S&P 500 trades lower by 0.4% with eight of ten sectors in the red.

All four countercyclical sectors trail the broader market with utilities (-2.2%) at the bottom of the leaderboard. The sector has been pressured by today's spike in Treasury yields that was brought on by the better than expected Nonfarm Payrolls report. The 10-yr note is on its low with the benchmark yield higher by eight basis points at 2.20%.

Over on the cyclical side, technology (-0.2%) and financials (+0.4%) trade ahead of the broader market while the other four sectors underperform. Notably, the financial sector has climbed in reaction to higher yields as well as last night's news that all 31 major banks cleared the baseline for required capital levels.

9:14 am: [BRIEFING.COM] S&P futures vs fair value: -7.90. Nasdaq futures vs fair value: -4.50. The stock market is on track for a modestly lower open as futures on the S&P 500 trade eight points below fair value.

Index futures spent the bulk of the night near their flat lines, but fell to lows within the past 45 minutes after the Nonfarm Payrolls report came in ahead of expectations. According to the report, 295,000 payrolls were added in February while the Briefing.com consensus expected a reading of 240,000. The Unemployment Rate fell to 5.5% from 5.7%, but that was a result of shrinking labor force participation. Also of note, hourly earnings increased just 0.1% after a 0.5% increase in January (Briefing.com consensus 0.2%).

The better than expected headline number has been met with aggressive selling in the Treasury market, sending the 10-yr yield higher by seven basis points to 2.19%. A similar, albeit not as aggressive, response in the futures market suggests participants believe this report increases the likelihood that the Fed could hike rates as early as June; however, the anemic wage growth provides some ammunition for the other side of that argument.

Shortly after the jobs report, Wall Street Journal reported that Apple (AAPL 128.18, +1.77) will be added to the Dow Jones Industrial Average, replacing AT&T (T 33.58, -0.42).

One more data point remains on the schedule with the Consumer Credit report for January set to be released at 15:00 ET (Briefing.com consensus $14.00 billion).

8:55 am: [BRIEFING.COM] S&P futures vs fair value: -5.60. Nasdaq futures vs fair value: -4.30. The S&P 500 futures trade six points below fair value.

Gains were widespread across markets in the Asia Pacific region. The Shanghai Composite and the Hang Seng were the few notable exceptions as growth concerns on the mainland appeared to weigh on investor sentiment.

Economic data was limited:
Japan's Leading Index slipped to 105.1 from 105.6 (expected 105.9)
Australia's AIG Construction Index fell to 43.9 from 45.9

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Japan's Nikkei jumped 1.2% in a broad-based advance led by the consumer non-cyclical (+2.7%), financial (+1.6%), and basic materials (+1.3%) sectors. The top-performing individual stocks were Sumitomo Dainippon Pharma Co (+12.5%), UNY Group Holdings (+10.7%), Ajinomoto Co. (+7.3%), Olympus Corp. (+5.8%), and Sumco Corp. (+5.7%). Yahoo Japan (-3.5%) was the biggest decliner.
Hong Kong's Hang Seng dipped 0.1%, pressured by weakness in the communications (-0.9%) and utilities (-0.6%) sectors. The influential financial sector (-0.03%) was little changed. China Unicom (-3.0%) and Kunlun Energy Co (-1.7%) led the decliners while Lenovo Group (+2.3%) and AIA Group (+2.0%) paced the winners.
China's Shanghai Composite declined 0.2%, finishing near its lows for the session. The Chinese market was pressured by losses in the technology, industrial, and consumer sectors. Leading decliners included Shanghai Potevio Co (-10.0%), Shaanxi Broadcast & TV Network Intermediary (-9.8%), China Railway Erju Co (-7.8%), Hisense Electric Co (-7.7%), and Universal Scientific Industrial Shanghai Co (-7.5%).

Major European indices trade mostly higher with Italy's MIB (+0.6%) in the lead. According to reports, Greece has paid the first installment of EUR310 million to the IMF. The country's next payment in the amount of EUR350 million is scheduled for next Friday.

In economic data:
Eurozone Q4 GDP was left unrevised at 0.3% quarter-over-quarter and 0.9% year-over-year
Germany's Industrial Production rose 0.6% month-over-month (consensus 0.5%; last 1.0%)
UK's Inflation Expectations slowed to 1.9% from 2.5%
France's Trade Deficit widened to EUR3.70 billion from EUR3.40 billion (expected deficit of EUR3.00 billion)
Swiss CPI fell 0.3% month-over-month (expected -0.1%; last -0.4%) while the year-over-year reading declined 0.8% (consensus -0.6%; prior -0.5%)
Spain's Industrial Production rose 0.4% year-over-year (last -0.9%)
Italy's PPI fell 1.1% month-over-month (previous -0.7%) while the year-over-year reading declined 2.9% (last -1.8%)

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UK's FTSE is lower by 0.3% with miners on the defensive. Anglo American, Fresnillo, and Randgold Resources are down between 1.3% and 1.9%. Weir Group outperforms, trading higher by 5.1% amid takeover speculation.
France's CAC is higher by 0.2% amid strength in consumer names. Carrefour and Accor hold respective gains of 2.7% and 1.1%. Airbus Group is the weakest performer, down 0.7%.
Germany's DAX has added 0.4% with producers of basic materials in the lead. HeidelbergCement and ThyssenKrupp are both up near 2.0%. Utilities lag with E.On and RWE both down near 0.8%.
Italy's MIB trades up 0.6% with BMPS, Banca di Milano Scarl, and Banco Popolare up between 1.6% and 4.7%.

8:33 am: [BRIEFING.COM] S&P futures vs fair value: -2.20. Nasdaq futures vs fair value: -1.50. The S&P 500 futures trade two points below fair value.

February nonfarm payrolls came in at 295,000 while the Briefing.com consensus expected a reading of 240,000. Nonfarm private payrolls added 288,000 against the 230,000 expected by the consensus. The unemployment rate fell to 5.5% from 5.7% while the consensus expected the rate to tick down to 5.6%.

Hourly earnings rose 0.1% while the consensus expected growth of 0.2%. The average workweek was reported at 34.6, which is what the consensus expected.

Separately, the January trade deficit narrowed to $41.80 billion from $46.60 billion, while the Briefing.com consensus expected the deficit to come in at $42.00 billion.

7:55 am: [BRIEFING.COM] S&P futures vs fair value: -0.20. Nasdaq futures vs fair value: +1.70. U.S. equity futures trade little changed amid mixed action overseas. The S&P 500 futures hover within a point of fair value, but the market is expected to be active around 8:30 ET when the Nonfarm Payrolls report for February crosses the wires (Briefing.com consensus 240K).

Similarly, Treasuries are little changed with the 10-yr yield pegged at 2.12%. Investors will receive the January Trade Balance (consensus -$42.00 billion) alongside the jobs report while January Consumer Credit will be reported at 15:00 ET (expected $14.00 billion).

In U.S. corporate news of note:

Big Lots (BIG 48.00, +0.18): +0.4% after reporting a one-cent beat and announcing a $200 million share repurchase and a 12% increase to the quarterly dividend. Also of note, the company issued below-consensus earnings and revenue guidance.
Checkpoint Systems (CKP 10.90, -2.53): -18.8% after its cautious guidance overshadowed better than expected results.
Foot Locker (FL 59.76, +2.73): +4.8% after beating earnings and revenue expectations.
Staples (SPLS 16.63, +0.13): +0.8% following its one-cent beat.
YY (YY 59.10, +3.93): +7.1% after beating earnings and revenue estimates.

Reviewing overnight developments:

Asian markets ended mixed. Japan's Nikkei +1.2%, Hong Kong's Hang Seng -0.1%, and China's Shanghai Composite -0.2%
Economic data was limited:
Japan's Leading Index slipped to 105.1 from 105.6 (expected 105.9)
Australia's AIG Construction Index fell to 43.9 from 45.9
In news:
China's Finance Minister Lou Jiwei noted that the country's fiscal deficit is expected to be at 2.7% of GDP in 2015 and cautioned that the country is facing weak tax revenue growth.

Major European indices are mixed. Germany's DAX +0.2%, France's CAC +0.2%, and UK's FTSE -0.2%. Elsewhere, Spain's IBEX is flat and Italy's MIB +0.5%
In economic data:
Eurozone Q4 GDP was left unrevised at 0.3% quarter-over-quarter and 0.9% year-over-year
Germany's Industrial Production rose 0.6% month-over-month (consensus 0.5%; last 1.0%)
UK's Inflation Expectations slowed to 1.9% from 2.5%
France's Trade Deficit widened to EUR3.70 billion from EUR3.40 billion (expected deficit of EUR3.00 billion)
Swiss CPI fell 0.3% month-over-month (expected -0.1%; last -0.4%) while the year-over-year reading declined 0.8% (consensus -0.6%; prior -0.5%)
Spain's Industrial Production rose 0.4% year-over-year (last -0.9%)
Italy's PPI fell 1.1% month-over-month (previous -0.7%) while the year-over-year reading declined 2.9% (last -1.8%)
Among news of note:
According to reports, Greece has paid the first installment of EUR310 million to the IMF. The country's next payment in the amount of EUR350 million is scheduled for next Friday.

6:25 am: [BRIEFING.COM] S&P futures vs fair value: -0.80. Nasdaq futures vs fair value: -0.10.

6:24 am: [BRIEFING.COM] Nikkei...18971...+219.20...+1.20%. Hang Seng...24164...-29.00...-0.10%.

6:24 am: [BRIEFING.COM] FTSE...6950.83...-10.70...-0.20%. DAX...11508.76...+4.80...+0.00%.

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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