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 Post subject: March 12th Thursday Trade Results - Profit $3420.00
PostPosted: Fri Mar 13, 2015 3:33 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)

Attachment:
031215-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+3420.00.png
031215-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+3420.00.png [ 90.04 KiB | Viewed 354 times ]

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

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $420.00 dollars or +4.20 points, Emini ES ($ES_F) futures @ $3,000.00 dollars or +60.00 points, Light Crude Oil CL ($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 @ $3,420.00 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=2026

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 enjoyed a broad-based rebound on Thursday after the S&P 500 (+1.3%) lost 3.6% during the previous seven sessions. The benchmark index reclaimed its 50- (2,060) and 100-day (2,044) moving averages while the Russell 2000 (+1.7%) outperformed.

Equity indices charged higher out of the gate and maintained narrow ranges into the afternoon before extending to new highs during the last hour of action. The market all but ignored a disappointing retail sales report for February (-0.6%; Briefing.com consensus +0.4%), but it could be argued that the weak reading increased the likelihood that the Fed will delay its first rate hike.

More notably, the greenback weakened a bit with the Dollar Index (99.26, -0.54) shedding 0.5% to narrow its March gain to 4.1%. The Index was down more than 1.0% this morning, but climbed off its session low that was notched after the release of the retail sales report.

Today's dollar weakness was not enough to keep crude oil from ending the pit session lower by 2.3% at $47.11/bbl while the energy sector (-0.5%) was the only group that finished in the red.

Meanwhile, the remaining nine sectors posted gains between 0.5% (technology) and 2.2% (financials).

In fact, technology was the only advancer limited to a slimmer gain than 1.0%, which was largely due to a 4.7% slump in the shares of Intel (INTC 30.80, -1.53) after the company cut its Q1 revenue guidance due to weaker than expected demand for business desktop PCs. The stock widened its quarter-to-date loss to 15.1% and contributed to the underperformance of the Nasdaq Composite (+0.9%).

Elsewhere among cyclical sectors, financials benefitted from last evening's news that the Federal Reserve approved capital plans of 28 out of 31 major banks. Bank of America (BAC 16.08, -0.02) was requested to make adjustments to its plan while Deutsche Bank (DB 31.70, +0.12) and Banco Santander (SAN 6.87, +0.10) had their plans rejected due to qualitative concerns. Thanks to today's advance, the sector is now up 0.6% for the month while the remaining groups continue holding March losses.

Similar to financials, the consumer discretionary sector (+2.0%) advanced 2.0% or more amid broad strength. Retailers rallied with the SPDR S&P Retail ETF (XRT 99.31, +1.70) spiking 1.7% while restaurant names benefitted from better than expected results from Shake Shack (SHAK 47.79, +0.89) and Zoe's Kitchen (ZOES 34.94, +2.24).

Treasuries registered gains, but ended well below their highs following an afternoon retreat. The 10-yr yield slipped two basis points to 2.10% after hitting a low near 2.04%.

Today's participation was relatively light with fewer than 750 million shares changing hands at the NYSE floor.

Economic data included Initial Claims, Retail Sales, Import/Export Prices, and Business Inventories:

Retail sales declined 0.6% in February after declining 0.8% while the Briefing.com consensus expected an increase of 0.4%
Some may blame the inclement weather in the Northeast as a contributing factor; however, in our opinion, the decline simply resulted from consumers continuing their savings trend and not spending.
The numbers were pretty weak across the board, with motor vehicle sales being the hardest hit sector. These sales fell 2.5% in February after increasing 0.5% in January.
Excluding motor vehicle sales, retail sales declined 0.1% after declining 1.1% while the consensus expected an increase of 0.6%.
The initial claims level declined to 289,000 for the week ending March 7 from an upwardly revised 325,000 (from 320,000) while the Briefing.com consensus expected a decline to 306,000
According to the Department of Labor, there were no special factors that impacted the data
Export prices, excluding agriculture, increased 0.2% in February after decreasing 1.0% in the prior reading
Excluding oil, import prices fell 0.3%, which followed last month's 0.7% decline
Business Inventories were unchanged in January while the Briefing.com consensus expected an increase of 0.1%
The December reading was revised to unchanged from 0.1%
The Treasury Budget for February showed a deficit of $192.30 billion while the Briefing.com consensus expected a deficit of $192.00 billion

Tomorrow, February PPI (Briefing.com consensus 0.3%) will be released at 8:30 ET while the preliminary reading of the Michigan Sentiment Index (consensus 95.8) for March will cross the wires at 10:00 ET.

Nasdaq Composite +3.3% YTD
Russell 2000 +2.6% YTD
Dow Jones Industrial Average +0.4% YTD
S&P 500 +0.3% YTD

3:40 pm: [BRIEFING.COM]

Natural gas and crude oil futures slid lower today and held those losses
Nat gas sold off following the weekly EIA storage data and ultimately closed $0.10 lower at $2.73/MMBtu
WTI crude oil lost steam and finished floor trading $1.10 lower at $47.11/barrel
Copper futures held gains today with the May contract ending $0.05 higher at $2.66/lb
Gold and silver also closed with a modest gains

3:00 pm: [BRIEFING.COM] The S&P 500 trades higher by 1.1% with one hour remaining in the Thursday session. The benchmark index jumped above its 100-day moving average (2,044) at the start of the session and spent the afternoon near its 50-day average (2,060).

At this juncture, the benchmark index is back above its 50-day average and is on course to end the day on its session high. Nine sectors sport gains between 0.3% (technology) and 2.1% (utilities) while the energy sector (-0.4%) sits in the red due to a 2.3% decline in crude oil, which ended the pit session at $47.11/bbl.

2:25 pm: [BRIEFING.COM] Equity indices continue drifting near their best levels of the day.

There was no doubt that the February retail sales report was disappointing.

Retail sales declined 0.6% in February after declining 0.8% in January. The Briefing.com Consensus expected retail sales to increase 0.4%. Even after stripping out motor vehicle sales, sales (-0.1%) were well below consensus (+0.6%) expectations.

It is hard to spin these numbers. Some may blame the inclement weather in the Northeast as a contributing factor. In our opinion, the decline in sales is simply a result of consumers continuing their savings trend and not spending.

2:00 pm: [BRIEFING.COM] The S&P 500 trades higher by 1.0% while the Dow (+1.1%) and Russell 2000 (+1.2%) outperform.

The Treasury Budget statement for February was just released and it showed a deficit of $192.30 billion (Briefing.com consensus -$192.00 billion). The Treasury data are not seasonally adjusted, so the February deficit cannot be compared to the $18.00 billion deficit recorded in January.

1:35 pm: [BRIEFING.COM] The major U.S. indices continued to trade near their session highs, underpinned by broad-based buying efforts.

In equities, shares of Lumber Liquidators (LL 36.28, +3.55), which were trading just under $70 three weeks ago, are outperforming after the company hosted a conference call earlier to defend itself in the wake of a caustic '60 Minutes' piece on its business and specifically the laminate flooring it sells. Elsewhere, Shake Shack (SHAK 48.30, +1.40) shares have reversed their earlier losses following the company's first earnings report since going public. The company reported results that beat expectations, and issued in-line guidance which consisted of same store sales growth in the low single digits. Shares initially declined as investors digested the results and considered the comparable sales guidance to be light in comparison to expectations.

At the top of the hour, the $13 bln 30-year auction drew a high yield of 2.681% with a bid-to-cover of 2.18. Results of the offering showed direct bidders accounting for only 11.6% of accepted offers versus the previous 12-auction average of 17.4%. On the other hand, the auction saw stronger interest from indirect bidders which accounted for 51.8% of accepted offers versus the prior-12 average of 45.7%

1:00 pm: [BRIEFING.COM] The major averages sport solid midday gains with the Dow (+1.0%) and S&P 500 (+0.9%) trading ahead of the Nasdaq Composite (+0.6%).

Equity indices charged out of the gate and registered the bulk of their gains during the opening hour as part of a broad-based rebound after two days of selling. The S&P 500 reclaimed its 100-day moving average in short order and currently hovers in the neighborhood of its 50-day moving average (2,060).

The early advance has occurred despite a disappointing Retail Sales report for February (-0.6%; Briefing.com consensus 0.4%), but one could argue that the report strengthens the case for the Fed to delay its first rate hike.

Furthermore, the Dollar Index (99.39, -0.41) has pulled back from its multi-year high, which has been a supportive factor. Interestingly, the greenback weakness has not been able to prevent crude oil from sliding in to the red. The energy component trades lower by 1.4% at $47.51/bbl after surrendering its morning gain. The decline in crude has pressured the energy sector (-0.1%) while the remaining nine groups sport gains.

The utilities sector (+1.8%) holds the lead, but more notably consumer discretionary (+1.6%) and financials (+1.4%) trade well ahead of the broader market.

Financials outperform after the Federal Reserve approved capital plans of 28 out of 31 banks. Bank of America (BAC 15.93, -0.18) is required to make some changes to its plan while Deutsche Bank (DB 31.44, -0.14) and Banco Santander (SAN 6.82, +0.05) had their plans rejected due to qualitative concerns.

Meanwhile, the discretionary sector has enjoyed broad support. Retailers and homebuilders display strong gains with SPDR S&P Retail ETF (XRT 98.99, +1.38) and iShares Dow Jones US Home Construction ETF (ITB 27.21, +0.35) both up near 1.3%.

Elsewhere, the technology sector (+0.3%) has struggled to keep up with the market due to a 4.6% decline in the shares of Intel (INTC 30.85, -1.48) after the company cut its Q1 revenue guidance due to weaker than expected demand for business desktop PCs. Including today's decline, Intel is down 15.0% quarter-to-date.

Treasuries have retreated from their highs, but they remain in the green with the 10-yr yield down three basis points at 2.08%.

Economic data included Initial Claims, Retail Sales, Import/Export Prices, and Business Inventories:

Retail sales declined 0.6% in February after declining 0.8% while the Briefing.com consensus expected an increase of 0.4%
Some may blame the inclement weather in the Northeast as a contributing factor; however, in our opinion, the decline simply resulted from consumers continuing their savings trend and not spending.
The numbers were pretty weak across the board, with motor vehicle sales being the hardest hit sector. These sales fell 2.5% in February after increasing 0.5% in January.
Excluding motor vehicle sales, retail sales declined 0.1% after declining 1.1% while the consensus expected an increase of 0.6%.
The initial claims level declined to 289,000 for the week ending March 7 from an upwardly revised 325,000 (from 320,000) while the Briefing.com consensus expected a decline to 306,000
According to the Department of Labor, there were no special factors that impacted the data
Export prices, excluding agriculture, increased 0.2% in February after decreasing 1.0% in the prior reading
Excluding oil, import prices fell 0.3%, which followed last month's 0.7% decline
Business Inventories were unchanged in January while the Briefing.com consensus expected an increase of 0.1%
The December reading was revised to unchanged from 0.1%

The Treasury Budget for February (consensus -$192 billion) will be released at 14:00 ET.

12:25 pm: [BRIEFING.COM] Not much change in the major averages with the S&P 500 (+0.9%) having spent the past hour in a three-point range. The benchmark index made the bulk of its move at the start of the session and enjoyed a second push higher about 90 minutes into the trading day.

Meanwhile, crude oil has surrendered its morning gain and now trades lower by 1.5% at $47.43/bbl. The recent decline has caused the energy sector (-0.1%) to slip into the red. On a related note, the Dollar Index (99.25, -0.55) remains lower by 0.6% after being down near 1.0% earlier.

11:55 am: [BRIEFING.COM] Equity indices continue drifting near their highs with the S&P 500 (+0.9%) trading ahead of the Nasdaq Composite (+0.5%).

The tech-heavy Nasdaq trails the broader market amid weakness in the shares of Intel (INTC 30.90, -1.43) while a handful of other large cap names also trade in the red. To that point, Microsoft (MSFT 41.18, -0.80), Qualcomm (QCOM 69.85, -0.42), and eBay (EBAY 59.40, -0.27) are down between 0.5% and 1.9%.

On the flip side, biotechnology names sport solid gains with the iShares Nasdaq Biotechnology ETF (IBB 344.08, +1.54) higher by 0.5% while the broader health care sector (+1.2%) trades ahead of the broader market.

Elsewhere, Treasuries hover near the middle of their trading range with the 10-yr yield down three basis points at 2.08%.

11:30 am: [BRIEFING.COM] Equity indices have built on their gains with the S&P 500 (+1.0%) returning above its 50-day moving average (2,060) after sliding below that level on Tuesday.

Today's advance has the hallmarks of a broad-based bounce as all ten sectors sport gains. The energy space (+0.3%) sits at the bottom of the leaderboard, but the cyclical sector has been able to stay out of the red even though crude oil trades lower by 0.7% at $47.86/bbl.

Elsewhere, the technology sector (+0.5%) is the second-weakest group as Intel (INTC 31.05, -1.28) weighs after lowering its guidance this morning. The stock is lower by 3.9% today, and down 14.5% since the end of 2014. Meanwhile, the broader PHLX Semiconductor Index is lower by 0.3% today, but up 2.0% quarter-to-date.

10:55 am: [BRIEFING.COM] Equity indices hover near their best levels of the session with the Dow Jones Industrial Average (+1.0%) trading ahead of the S&P 500 (+0.8%).

All ten sectors hold gains at this juncture with utilities (+1.5%) and telecom services (+1.4%) in the lead. However, the outperformance of financials (+1.3%) and the consumer discretionary sector (+1.2%) is more notable considering the two sectors represent more than 30.0% of the entire S&P 500.

The discretionary sector has received broad support even though the February Retail Sales report showed a 0.6% decline that was fueled by weak discretionary spending. Retail names hold solid gains with the SPDR S&P Retail ETF (XRT 98.63, +1.02) higher by 1.0%.

10:40 am: [BRIEFING.COM]

Natural gas futures rallied ahead of the weekly natural gas storage data, rising to a new high for the day near $2.85/MMBtu
Following the data, Apr nat gas pulled back some and is now +0.3% at $2.83/MMBtu
Earlier this morning, gold and silver futures popped a little higher following retail sales/claims data, while dollar index dropped to a new low for the day
Apr gold is now +0.2% at $1153.30/oz, while May silver is +1.2% at $15.55/oz
Apr crude oil lost earlier strength and is now -0.6% at $47.89/barrel
May copper is strong this morning, now +2.1% at $2.66/lb

10:00 am: [BRIEFING.COM] The S&P 500 trades higher by 0.9%.

Just released, Business Inventories were unchanged in January while the Briefing.com consensus expected an increase of 0.1%. This followed the prior month's revised flat reading (from 0.1%).

9:40 am: [BRIEFING.COM] The major averages climbed out of the gate with the S&P 500 (+0.7%) reclaiming its 100-day moving average (2,042).

Nine of ten sectors hold early gains with financials (+1.4%) holding the lead. Meanwhile, the technology sector (-0.1%) hovers just below its flat line after Intel (INTC 31.08, -1.25) lowered its guidance. Shares of INTC trade lower by 3.9% while the broader PHLX Semiconductor Index has given up 0.4% in the early going.

Elsewhere, Treasuries have slipped from their highs, but they continue holding gains with the 10-yr yield down four basis points at 2.07%.

9:16 am: [BRIEFING.COM] S&P futures vs fair value: +7.90. Nasdaq futures vs fair value: -0.20. The stock market is on track for a modestly higher open that should place the S&P 500 back above its 100-day moving average (2,042) after ending yesterday's session just below that level for the first time since the end of January.

It remains to be seen whether the benchmark index is able to hold that line, but an overnight retreat in the Dollar Index (99.14, -0.65) should be a supportive factor. The Dollar Index dropped to a fresh low after the Retail Sales report for February missed expectations (-0.6%; Briefing.com consensus +0.4%).

On the corporate front, Intel (INTC 30.83, -1.50) is lower by 4.6% in pre-market after cutting its Q1 revenue guidance due to weaker than expected demand for business desktop PCs.

Elsewhere, bank stocks are on track for an upbeat start after the Federal Reserve approved capital plans of 28 out of 31 banks. Bank of America (BAC 16.10, -0.01) is required to make some changes to its plan while Deutsche Bank (DB 31.69, +0.11) and Banco Santander (SAN 6.86, +0.09) had their plans rejected due to qualitative concerns.

Treasuries hover near their highs with the 10-yr yield down five basis points at 2.06%.

The Business Inventories report for January (consensus 0.1%) will cross the wires at 10:00 ET while the Treasury Budget for February (consensus -$192 billion) will be released at 14:00 ET.

8:57 am: [BRIEFING.COM] S&P futures vs fair value: +9.00. Nasdaq futures vs fair value: +14.70. The S&P 500 futures trade nine points above fair value.

Markets in the Asia Pacific region shrugged off Wall Street's lackluster showing on Wednesday and powered higher in Thursday's trade, bolstered by a surprise rate cut from the Bank of Korea (to 1.75% from 2.00%), better than expected employment data out of Australia, and speculation that China will introduce more monetary policy stimulus.

In economic data:
Japan's Q1 BSI Large Manufacturing Conditions fell to 2.4 from 8.1 (expected 5.7), Tertiary Industry Activity Index +1.4% month-over-month (expected 0.6%; prior 0.0%), and February Household Confidence rose to 40.7 from 39.1 (expected 39.9)
China's New Loans CNY1,020 billion (expected CNY755.00 billion; prior CNY1.470.00 billion) and M2 Money Stock +12.5% year-over-year (expected 11.1%; prior 10.8%)
Australia's February Employment Change +15.6K (expected +15.0K; prior -14.6K), February Unemployment Rate slipped to 6.3% from 6.4% (expected 6.3%), and MI Inflation Expectations slipped to 3.2% from 4.0%

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Japan's Nikkei increased 1.4%, finishing near its highs for the day and just under the 19,000 mark. Strength in the auto makers and leadership from the financial (+2.4%), consumer non-cyclical (+1.8%), and industrial (+1.5%) sectors powered the advance. Individual leaders included Eisai Co (+6.2%), Yamaha Corp (+5.3%), Tokio Marine Holdings (+4.6%), Chugai Pharmaceutical (+4.3%), and Mitsubishi Chemical Holdings (+3.8%).
Hong Kong's Hang Seng advanced 0.3%, helped by strength in the consumer cyclical (+0.8%) and communications (+0.8%) sectors. Galaxy Entertainment (+3.2%) rebounded from recent losses and led all gainers, followed by Bank of Communications (+2.9%), China Life Insurance (+2.0%), China Construction Bank (+2.0%), and China Mobile (+1.9%).
China's Shanghai Composite jumped 1.8%, helped in part by renewed speculation there could soon be another cut in the reserve ratio requirement. Data showed new loans were higher than expected for the latest month but down 31% from the prior reading. The Chinese market was led by the financial, energy, and utilities sectors.

Major European indices trade near their flat lines while UK's FTSE (+1.0%) outperforms. Elsewhere, Germany's Bundesbank President Jens Weidmann said he does not believe the current economic situation calls for asset purchases by the European Central Bank. Mr. Weidmann also said that negative interest rates are transitory with no signs of second-round effects. On a separate note, Bloomberg reports the European Central Bank has increased Greece's Emergency Liquidity Assistance allowance by EUR600 million.

Participants received several data points:
Eurozone Industrial Production -0.1% month-over-month (expected 0.2%; prior 0.3%); +1.2% year-over-year (consensus 0.1%; last 0.6%)
UK's January trade deficit narrowed to GBP8.41 billion from GBP9.93 billion (expected --GBP9.70 billion)
Germany's CPI 0.9% month-over-month; 0.1% year-over-year, as expected
Spain's CPI 0.2% month-over-month; -1.1% year-over-year, as expected
France's CPI 0.7% month-over-month (expected 0.6%; prior -1.0%)

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UK's FTSE trades higher by 1.0% with miners in the lead. Anglo American, Fresnillo, Glencore, and Randgold Resources are up between 2.6% and 3.6%. Standard Chartered is the weakest performer, down 3.8%.
Germany's DAX is lower by 0.3% with Deutsche Lufthansa (-2.8%), BMW (-2.3%), and Continental (-2.2%) leading the decline. Basic materials names outperform with K+S, Lanxess, and Linde up between 1.0% and 6.3%.
France's CAC trades down 0.1% amid weakness in industrial names. Bouygues, Renault, and Vinci are down between 1.0% and 1.9% while energy-related names outperform. Technip and Total trade higher by 2.9% and 0.8%, respectively.

8:33 am: [BRIEFING.COM] S&P futures vs fair value: +6.20. Nasdaq futures vs fair value: +13.90. The S&P 500 futures trade six points above fair value.

The latest weekly initial jobless claims count totaled 289,000 while the Briefing.com consensus expected a reading of 306,000. Today's tally was below the revised prior week count of 325,000 (from 320,000). As for continuing claims, they fell to 2.418 million from 2.423 million.

February retail sales fell 0.6% while the Briefing.com consensus expected an increase of 0.4%. The prior month's reading was left unrevised at -0.8%. Excluding autos, retail sales declined 0.1% while the consensus expected an increase of 0.6%.

Export prices, excluding agriculture, increased 0.2% in February after decreasing 1.0% in the prior reading. Excluding oil, import prices fell 0.3%, which followed last month's 0.7% decline.

8:01 am: [BRIEFING.COM] S&P futures vs fair value: +6.00. Nasdaq futures vs fair value: +16.90. U.S. equity futures trade modestly higher amid cautious action overseas. The S&P 500 futures hover six points above fair value after spending the entire night in positive territory. Meanwhile, the Dollar Index (98.96, -0.83) is lower by 0.8% after hitting the 100.00 level overnight.

Treasuries hold modest gains with the 10-yr yield lower by three basis points at 2.08%.

Weekly Initial Claims (Briefing.com consensus 306K), February Retail Sales (consensus 0.4%), and February Import/Export Prices will be released at 8:30 ET while the Business Inventories report for January (consensus 0.1%) will cross the wires at 10:00 ET. The day's data will be topped off with the 14:00 ET release of the Treasury Budget for February (consensus -$192 billion), which was pushed back from yesterday.

In U.S. corporate news of note:

Dollar General (DG 72.00, +0.55): +0.8% after reporting in-line results and announcing a new quarterly dividend of $0.22/share. The retailer guided for below-consensus earnings in fiscal year 2016.
Hewlett-Packard (HPQ 32.40, -0.21): -0.6% after Barclays downgraded the stock to 'Equal Weight.'
JA Solar Holdings (JASO 9.44, +0.43): +4.8% after beating earnings and revenue expectations.
Shake Shack (SHAK 43.70, -3.20): -6.8% despite beating earnings and revenue estimates.

Reviewing overnight developments:

Asian markets ended mostly higher. Hong Kong's Hang Seng +0.3%, Japan's Nikkei +1.4%, and China's Shanghai Composite +1.8%
In economic data:
Japan's Q1 BSI Large Manufacturing Conditions fell to 2.4 from 8.1 (expected 5.7), Tertiary Industry Activity Index +1.4% month-over-month (expected 0.6%; prior 0.0%), and February Household Confidence rose to 40.7 from 39.1 (expected 39.9)
China's New Loans CNY1,020 billion (expected CNY755.00 billion; prior CNY1.470.00 billion) and M2 Money Stock +12.5% year-over-year (expected 11.1%; prior 10.8%)
Australia's February Employment Change +15.6K (expected +15.0K; prior -14.6K), February Unemployment Rate slipped to 6.3% from 6.4% (expected 6.3%), and MI Inflation Expectations slipped to 3.2% from 4.0%
In news:
People's Bank of China Governor Zhou Xiaochuan said the central bank remains committed to a prudent monetary approach with no need to change its policy stance at this time
The Bank of Korea unexpectedly cut its repurchase rate by 25 basis points to 1.75%

Major European indices trade mostly lower. Germany's DAX -0.2%, France's CAC -0.1%, and UK's FTSE +1.0%. Elsewhere, Italy's MIB unch and Spain's IBEX -0.1%
Participants received several data points:
Eurozone Industrial Production -0.1% month-over-month (expected 0.2%; prior 0.3%); +1.2% year-over-year (consensus 0.1%; last 0.6%)
UK's January trade deficit narrowed to GBP8.41 billion from GBP9.93 billion (expected --GBP9.70 billion)
Germany's CPI 0.9% month-over-month; 0.1% year-over-year, as expected
Spain's CPI 0.2% month-over-month; -1.1% year-over-year, as expected
France's CPI 0.7% month-over-month (expected 0.6%; prior -1.0%)
Among news of note:
Germany's Bundesbank President Jens Weidmann said he does not believe the current economic situation calls for asset purchases by the European Central Bank. Mr. Weidmann also said that negative interest rates are transitory with no signs of second-round effects.

6:09 am: [BRIEFING.COM] S&P futures vs fair value: +3.90. Nasdaq futures vs fair value: +2.50.

6:09 am: [BRIEFING.COM] Nikkei...18991.11...+267.60...+1.40%. Hang Seng...23797.96...+80.00...+0.30%.

6:09 am: [BRIEFING.COM] FTSE...6772.49...+51.00...+0.80%. DAX...11771.61...-34.30...-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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