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 Post subject: March 13th Friday Trade Results - Profit $6062.50
PostPosted: Fri Mar 13, 2015 5:07 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)

Attachment:
031315-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+6062.50.png
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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 @ $0.00 dollars or +0.00 points, Emini ES ($ES_F) futures @ $6,062.50 dollars or +121.25 points, Light Crude Oil CL ($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 @ $6,062.50 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=2027

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, Briefing, 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 the week on a defensive note with the S&P 500 (-0.6%) returning below its 50-day moving average (2,059). The benchmark index settled ahead of the Dow Jones Industrial Average (-0.8%), but behind the Nasdaq Composite (-0.4%).

Equity indices began the day with modest losses and spent the first two hours of action in a steady slide that involved all ten sectors. The S&P 500 hovered near its morning low into the afternoon, but was able to rally into the middle of its trading range during the final 90 minutes of the day.

Once again, the early pressure was largely due to continued greenback strength that sent the Dollar Index (100.22, +0.78) higher by 0.8% to extend its March advance to 5.1%. The unyielding strength fed concerns about the impact to earnings of multinational companies while also pressuring crude oil. The energy component fell 4.7% to $44.89/bbl and notched its low after the Baker Hughes rig count fell to 1125 (-67), registering its 14th consecutive weekly decline.

For the week, WTI crude lost 9.1% while the energy sector (-0.5%) fell 2.8%, ending the week well behind the remaining groups. Today, however, the sector finished ahead of the broader market thanks to a late rally amid speculation ExxonMobil (XOM 83.87, -0.35) may be interested in Whiting Petroleum (WLL 40.00, +1.64). Meanwhile, the materials sector (-1.0%) was the weakest performer on the cyclical side as steelmakers weighed with Market Vectors Steel ETF (SLX 30.97, -0.72) falling 2.3%.

Elsewhere, the technology sector (-0.5%) stayed ahead of the broader market thanks to relative strength among chipmakers. The PHLX Semiconductor Index gained 0.7% with NXP Semiconductor (NXPI 104.66, +6.09) jumping 6.2% after Needham initiated coverage of the stock with a 'Strong Buy' rating. As for large cap names, Intel (INTC 30.93, +0.13), Microsoft (MSFT 41.38, +0.36) and Oracle (ORCL 42.38, +0.76) finished in the green while other major tech components registered losses.

The Nasdaq settled a little ahead of the broader market thanks to those pockets of strength while biotechnology names also contributed to the outperformance. The iShares Nasdaq Biotechnology ETF (IBB 345.33, +0.50) added 0.1% after being up more than 1.0% this morning. On a related note, the health care sector (-0.2%) finished ahead of the remaining groups.

Treasuries ended flat after showing intraday gains with the 10-yr yield settling at 2.12%.

Today's participation was a bit light with fewer than 790 million shares changing hands at the NYSE floor.

Economic data included PPI and Michigan Sentiment:

Producer prices declined 0.5% in February after declining 0.8% in January while the Briefing.com Consensus expected an increase of 0.3%
The drop in producer prices was a shock. Most analysts expected a rise in energy prices would offset any weaknesses from other sectors, but that did not happen
Energy prices were flat in February after declining 10.3% in January
Food prices declined 1.6% in February after declining 1.1% in January, which was the third consecutive monthly decline in food prices. Most of the drop resulted from a 17.1% decline in fresh and dry vegetable prices
Excluding food and energy, core PPI also declined 0.5% in February after declining 0.1% in January while the consensus expected an increase of 0.1%
The University of Michigan Consumer Sentiment Index dropped to 91.2 in the preliminary March reading from 95.4 while the Briefing.com consensus expected an increase to 95.8
Slightly higher gasoline prices and a volatile equity market offset continued strengthening in the labor market

On Monday, the Empire Manufacturing report for March will be released at 8:30 ET while February Industrial Production and Capacity Utilization will be announced at 9:15 ET. The day's data will be topped off with the 10:00 ET release of NAHB Housing Market Index for March.

Nasdaq Composite +2.9% YTD
Russell 2000 +2.3% YTD
S&P 500 -0.3% YTD
Dow Jones Industrial Average -0.4% YTD

Week in Review: Dollar Strength in Focus

The stock market began the week on an upbeat note with the Dow Jones Industrial Average (+0.8%) pacing the Monday advance. The price-weighted index settled well ahead of the S&P 500 (+0.4%) while the Nasdaq Composite (+0.3%) spent the bulk of the day near its flat line. Equity indices climbed out of the gate with cyclical sectors fueling the early advance. Meanwhile, countercyclical groups struggled early, but only the telecom services sector (-0.3%) failed to turn positive by the closing bell. Eight of ten sectors finished the day in the green with industrials (+0.9%) settling in the lead. The sector benefitted from solid gains among large cap names like 3M (MMM), Boeing (BA), and Caterpillar (CAT) with the three Dow components advancing between 0.9% and 1.2%. The trio helped the Dow climb throughout the session while the Nasdaq underperformed due to relative weakness in biotechnology and major chipmakers like Taiwan Semiconductor (TSM) and Intel (INTC).

The market endured a daylong selloff on Tuesday with the S&P 500 (-1.7%) sliding below its 50-day moving average and surrendering its Q1 gain. Equities stumbled out of the gate after the Dollar Index (98.60, +1.01) continued its charge, climbing to a fresh 12-year high during overnight action. The index spent the morning near its overnight high and built on that gain into the afternoon. The greenback strength sent the euro into the 1.0700 area while the Dollar Index extended its March gain to 3.4%. The unwavering dollar strength fueled concerns about the earnings prospects of multinational companies while also putting pressure on overseas entities that conduct their dealings in dollars. As a result, a wave of recent downward earnings revisions has lowered 2015 EPS growth expectations to just 1.1% from 9.8% on December 1, according to S&P Capital IQ. The diminished prospects for solid earnings growth broadsided the six growth-sensitive sectors while countercyclical groups did not fare much better. Sellers remained in control throughout the day with the two largest sectors by weight-technology (-2.2%) and financials (-2.1%)-pacing the retreat.

The Dow (-0.2%), Nasdaq (-0.2%), and S&P 500 (-0.2%) registered modest losses on Wednesday while the Russell 2000 (+0.6%) outperformed. The small-cap index climbed steadily throughout the afternoon while the S&P 500 spent the day in an 11-point range near its flat line before settling just below its 100-day moving average (2,042). Tuesday's sharp slide was paced by the two largest sectors by weight, but technology (-0.7%) and financials (+0.6%) spent Wednesday on opposite sides of their unchanged levels, which contributed to the sideways action. The financial sector settled in the lead ahead of the evening release of the complete results of the stress test administered by the Federal Reserve.

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% in the morning, but climbed off its session low that was notched after the release of the retail sales report. Thursday'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).

3:35 pm: [BRIEFING.COM]

WTI crude oil dropped today following the IEA monthly oil market report and ahead of the weekly U.S. rig count
WTI crude dropped following the IEA report, but showed no reaction to the rig count
Ultimately, Apr crude oil closed $2.22 lower at $44.89/barrel
Apr nat gas ended flat at $2.73/MMbtu
Precious metals showed modest gains
Apr gold closed +$1.60 at $1150.60/oz, while May silver rose $0.03 to $15.49/oz

3:00 pm: [BRIEFING.COM] The S&P 500 trades lower by 1.1% with one hour remaining in the session. The benchmark index enters the final hour on track to lock in a weekly decline of 1.3%. Including that loss, the S&P 500 is now down 2.9% for the month and lower by 0.7% since the end of last year.

All ten sectors are on track for weekly losses with energy down 3.5% since last Friday. Meanwhile, crude oil has surrendered 8.7% this week.

Elsewhere, Treasuries have backed away from their highs with the 10-yr yield at 2.11% (-1 bp).

2:30 pm: [BRIEFING.COM] The major averages continue drifting near their lows with the S&P 500 down 1.0%.

Earlier we mentioned that financials (-1.1%) and health care (-0.6%) were on track to end the week with slim gains, but both groups are back near their flat lines at this juncture. Meanwhile, the industrial sector (-1.4%) has dropped to the bottom of today's leaderboard.

The industrial sector has been pressured by its largest component-General Electric (GE 24.88, -0.52)-which trades lower by 2.1%, while transport stocks have fared a bit better with the Dow Jones Transportation Average down 0.9% for the day, but still up 0.2% for the week.

Also of note, crude oil has extended its decline to 4.8% at $44.81/bbl with the pit close in sight.

1:55 pm: [BRIEFING.COM] The S&P 500 remains near its session low.

Forecasts for a near-term acceleration in inflation growth took another hit with the release of the February PPI.

Producer prices declined 0.5% in February after declining 0.8% in January. That was the fourth consecutive monthly decline in the PPI. The Briefing.com Consensus expected the PPI to increase 0.3%.

The drop in producer prices was a shock. Most analysts expected a rise in energy prices would offset any weaknesses from other sectors. That did not happen. Energy prices were flat in February after declining 10.3% in January. Seasonal adjustments removed what would have been a 1.0% nonadjusted gain.

Excluding food and energy, core PPI also declined 0.5% in February after declining 0.1% in January. The consensus expected these prices to increase 0.1%.

Pipeline pressures continued to weaken.

Headline intermediate processed goods (-0.6%) and unprocessed goods (-3.9%) both declined in February. Large declines were also found in core intermediate processed (-0.4%) and unprocessed (-5.2%) goods. Intermediate services prices increased 0.1% in February after declining 0.2% in January.

1:30 pm: [BRIEFING.COM] The major U.S. indices have dropped back since our last update, leaving close to their lows for the day.

The weekly Baker Hughes (BHI 58.84, -0.89) weekly rig count report showed a further decline in the total count of U.S. rigs. The data from Baker Hughes showed that for the 14th week in a row, the total count of U.S. rigs declined by 67. While there was an initial muted response in the price of WTI crude (-4.3% to $45.02/bbl), the spot price subsequently set new session lows under $45/bbl.

In equities, shares of Herbalife (HLF 35.97, +2.72) are outperforming following a report late yesterday from the Wall Street Journal that federal prosecutors and the FBI are interviewing people hired by Bill Ackman in a probe of potential Herbalife price manipulation. Elsewhere, shares of Investment Technology Group (ITG 26.77, +2.48) are seeing a late day surge after a Bloomberg report that the company is in talks to acquire brokerage services company Convergex for ~$200 mln.

12:55 pm: [BRIEFING.COM] The major averages trade lower across the board at midday with the Dow Jones Industrial Average (-1.1%) pacing the retreat. The S&P 500 (-0.9%) follows not far behind with all ten sectors in the red.

Equity indices have spent the entire first half in the red amid continued dollar strength that has become a thorn in the side of multinational companies. The Dollar Index (100.01, +0.58) is higher by 0.6%, which has weighed on crude oil, sending the energy component lower by 4.1% to $45.14/bbl. At its current level, WTI crude trades within a buck of its January low.

Fittingly, the energy sector (-1.2%) sits at the bottom of today's leaderboard, alongside materials (-1.2%). Meanwhile, the remaining cyclical sectors are down between 0.9% (technology) and 1.1% (industrials).

The technology sector trades a bit ahead of the broader market, but that is a hollow victory, considering most large cap components sit well below their flat lines. Oracle (ORCL 42.25, +0.63) has bucked the trend, trading higher by 1.5% while Microsoft (MSFT 41.04, +0.02) has turned positive not long ago.

Elsewhere, financials (-1.0%) trade behind the broader market, but the sector remains on course to end the week higher by 0.1% versus a 1.1% loss for the S&P 500. Similarly, the health care sector (-0.5%) is also looking to end the week in the green, up 0.1%.

Biotechnology has contributed to the outperformance of the health care sector, but the iShares Nasdaq Biotechnology ETF (IBB 344.35, -0.48) has struggled to stay positive. The ETF was up more than 1.0% at the start of the day, but now trades lower by 0.2%.

Treasuries hold modest gains with the 10-yr yield down two basis points at 2.10%.

Economic data included PPI and Michigan Sentiment:

Producer prices declined 0.5% in February after declining 0.8% in January while the Briefing.com Consensus expected an increase of 0.3%
The drop in producer prices was a shock. Most analysts expected a rise in energy prices would offset any weaknesses from other sectors, but that did not happen
Energy prices were flat in February after declining 10.3% in January
Food prices declined 1.6% in February after declining 1.1% in January, which was the third consecutive monthly decline in food prices. Most of the drop resulted from a 17.1% decline in fresh and dry vegetable prices
Excluding food and energy, core PPI also declined 0.5% in February after declining 0.1% in January while the consensus expected an increase of 0.1%
The University of Michigan Consumer Sentiment Index dropped to 91.2 in the preliminary March reading from 95.4 while the Briefing.com consensus expected an increase to 95.8
Slightly higher gasoline prices and a volatile equity market offset continued strengthening in the labor market

12:30 pm: [BRIEFING.COM] Not much change in the major averages with the key indices trading just above their session lows.

Small cap stocks displayed relative strength in the early going, but the Russell 2000 (-1.2%) now trails the S&P 500 (-0.9%) and trades in-line with the Dow Jones Industrial Average (-1.2%). That relationship underscores the broad nature of today's selling that has eight sectors showing losses of 1.0% or more.

Similarly, eight sectors are on course to register weekly losses between 0.2% (utilities) and 3.6% (energy) while financials and health care remain slightly higher for the week. The two sectors hold respective losses of 1.0% and 0.5% today, but both are up 0.1% for the week.

12:00 pm: [BRIEFING.COM] Selling pressure remains palpable with six sectors trading behind the S&P 500 (-1.0%).

The rate-sensitive utilities sector (-1.7%) is the weakest performer despite today's decline in Treasury yields (10-yr yield -3 bps at 2.09%). Including the decline the sector is down 4.6% for the month and lower by 9.2% since the end of 2014.

Meanwhile, the second-weakest performer of the year-energy (-1.4%)-is also the second-weakest performer of the day. The sector has been pressured by crude oil, which trades lower by 3.6% at $45.34/bbl and hovers just $1.00/bbl above its lowest level of the year.

11:30 am: [BRIEFING.COM] Continued selling pressure has nudged the S&P 500 (-1.0%) below its 100-day moving average (2,046) after the index reclaimed that level at the start of yesterday's session.

Including today's decline, the S&P 500 is lower by 1.3% for the week and down 2.8% for the month. Furthermore, the index has slipped back into the red for the first quarter (-0.7%).

Meanwhile, the tech-heavy Nasdaq (-0.8%) outperforms today, but is down 1.5% for the week. However, the index continues holding a solid gain for Q1 (2.5%). Today, the index has been able to stay ahead of the broader market thanks in part to a 0.8% gain in the shares of Oracle (ORCL 41.97, +0.35). Other large cap Nasdaq components show losses close to 1.0% apiece, but Apple (AAPL 123.86, -0.59) is lower by 0.4%, which puts the stock ahead of the Nasdaq.

10:55 am: [BRIEFING.COM] Equity indices have slumped to new lows with blue chip names pacing the slide. To that point, the Dow Jones Industrial Average (-1.0%) is the weakest performing index while the Russell 2000 (-0.6%) outperforms. Meanwhile, the S&P 500 (-0.8%) splits the difference with three sectors down more than 1.0% apiece.

Commodity-related energy (-1.3%) and materials (-1.1%) sit at the bottom of the leaderboard while the health care sector (-0.3%) outperforms with help from biotechnology; however, the iShares Nasdaq Biotechnology ETF (IBB 345.46, +0.63) has narrowed its gain to 0.2% after being up more than 1.0% at the start of the session.

Elsewhere, Treasuries have approached their morning lows with the 10-yr yield down two basis points at 2.10%.

10:40 am: [BRIEFING.COM]

Strength in the dollar index is once again weighing on commodity prices.
Oil, gold and silver futures just hit new lows for today
In addition to strength in the dollar, the IEA's oil market report is helping weigh on WTI crude oil prices today, which are back near the $46/barrel level
Apr crude oil fell as low as in morning trade and is now -3% at $45.65/barrel
Gold and silver pulled back in recent trade, each hitting news daily lows.
However, both have been showing some quick recovery
Apr gold is now +0.2% at $1154/oz, while May silver is +0.1% at $15.53/oz

10:00 am: [BRIEFING.COM] The S&P 500 trades lower by 0.3%.

Just released, the preliminary reading for the University of Michigan Consumer Sentiment survey for March fell to 91.2 from the reading of 95.4 that was reported in February. The Briefing.com consensus expected an uptick to 95.8.

9:40 am: [BRIEFING.COM] Equity indices slipped out of the gate amid broad-based weakness. The S&P 500 trades lower by 0.3% with nine sectors showing opening losses.

The energy sector (-1.2%) is the weakest performer out of the gate, which is understandable considering crude oil trades lower by 2.3% at $45.99/bbl. Meanwhile, the other commodity-related sector-materials (-0.7%)-also appears among the early laggards while health care (unch) trades ahead of the remaining groups.

The early outperformance of the health care sector can be traced to relative strength in biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 347.00, +2.17) trades higher by 0.6%, which has helped the Nasdaq erase its opening loss.

The preliminary reading of the Michigan Sentiment Index (consensus 95.8) for March will cross the wires at 10:00 ET.

9:08 am: [BRIEFING.COM] S&P futures vs fair value: -2.20. Nasdaq futures vs fair value: +3.40. The stock market is on track for a modestly lower open as futures on the S&P 500 trade two points below fair value. Index futures traded higher overnight, but slumped to lows during the past 90 minutes in a move that coincided with crude oil sliding into the neighborhood of its January low. The energy component is currently down 1.8% at $46.22/bbl.

Furthermore, dollar strength remains the theme with the Dollar Index (99.65, +0.21) trading higher by 0.2%. The Index slipped from its high (99.73) after the release of a cooler than expected PPI report for February (-0.5%; Briefing.com consensus 0.3%), but remains higher for the day and up 2.1% for the week. Meanwhile, the S&P 500 will enter the Friday session down 0.3% for the week.

One more data point remains on the schedule with the preliminary reading of the Michigan Sentiment Index (consensus 95.8) for March set to cross the wires at 10:00 ET.

On the corporate front, Ulta Salon (ULTA 155.05, +10.23) is on track to open higher by 7.1% after beating estimates and guiding Q1 revenue ahead of analyst expectations while Aeropostale (ARO 3.23, -0.47) has tumbled 12.2% in pre-market after its cautious guidance overshadowed a bottom-line beat.

Treasuries hover near their flat lines with the 10-yr yield at 2.11%.

8:56 am: [BRIEFING.COM] S&P futures vs fair value: -3.60. Nasdaq futures vs fair value: +0.90. The S&P 500 futures trade four points below fair value.

Most markets in the Asia Pacific region declined on Friday, yet three of the most influential markets--Japan, Hong Kong, and China--all rose. The Nikkei stole the show with a rally that produced a 1.4% gain and a move above 19,000 to its highest level since 2000.

In economic data:
Japan's January Industrial Production +3.7% month-over-month (expected +4.0%; prior +4.0%) and Capacity Utilization +3.6% month-over-month (prior +2.0%)
South Korea's February Export Price Index -7.9% year-over-year (prior -8.6%) while Import Price Index -17.8% year-over-year (prior -19.4%)
Singapore's Q4 Unemployment Rate held at 1.9%, as expected, while January Retail Sales +4.8% month-over-month (expected -0.6%; prior -1.2%); -5.0% year-over-year (expected -1.1%; prior +4.6%)

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Japan's Nikkei increased 1.4% and cruised through the 19,000 mark, hitting its highest point since 2000. The industrial (+3.0%), financial (+1.8%), and energy (+1.7%) sectors led the gains. Top individual winners included FANUC Corp (+13.2%), Sumitomo Realty & Development Co. (+5.6%), Tokyo Fudosan Holdings (+5.2%), Dentsu (+4.6%), and Japan Steel Works (+4.0%).
Hong Kong's Hang Seng increased 0.1% but finished near its lows for the day. A lackluster showing from the consumer cyclical (-0.9%) and financial (-0.1%) sectors was offset by strength in the energy (+1.0%), communications (+0.8%), and industrial (+0.6%) sectors. China Shenhua Energy (+3.0%), Bank of China (+2.1%), and Bank of Communications (+2.0%) led the gainers while Lenovo Group (-4.2%), Li & Fung Ltd (-2.6%), and Galaxy Entertainment (-2.3%) paced the decliners.
China's Shanghai Composite jumped 0.7%. The technology (+2.7%), energy (+2.3%), and communications (+1.5%) sectors were the strongest performers in the Chinese market. China Southern Airlines (+10.1%), CTS International Logistics (+10.0%), and Yanzhou Coal Mining (+10.0%) sat atop the list of winners while Atlantic China Welding Consumables (-5.1%), Shanghai Zhangjiang High-Tech Park Development (-4.3%), and AVIC Helicopter Co (-3.3%) found themselves at the bottom.

Major European indices trade lower across the board. In news, the Bank of Russia cut its key interest rate to 14.0% from 15.0% and indicated that more cuts should be expected amid slowing inflation. Also of note, European Commission President Jean-Claude Juncker shared his displeasure with recent Greece-related developments, saying not enough progress has been made.

Economic data was scarce:
Germany's February Wholesale Price Index +0.5% month-over-month (expected -0.2%; previous -0.4%); -2.1% year-over-year (last -2.6%)
Italy's February CPI +0.4% month-over-month (expected 0.3%; prior 0.4%); -0.1% year-over-year (consensus -0.2%; last -0.1%)

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UK's FTSE trades lower by 0.3% amid weakness in energy names. BG Group and BP hold respective losses of 2.2% and 1.4%. Discretionary names outperform with Whitbread, ITV, and Sports Direct International up between 1.2% and 2.2%.
France's CAC has given up 0.3%. Similar to UK, energy names lag with Total and Technip lower by 2.0% and 2.9%, respectively. On the upside, Michelin is higher by 3.0% after Citigroup raised its price target for the stock.
Germany's DAX is down 0.3% with about 2/3 of the index trading lower. Basic materials names K+S, Linde, and ThyssenKrupp hold losses between 0.9% and 1.9% while Commerzbank outperforms, trading higher by 3.9% after reaching a $1.5 billion settlement with US authorities stemming from money laundering charges.

8:30 am: [BRIEFING.COM] S&P futures vs fair value: -3.10. Nasdaq futures vs fair value: +1.90. The S&P 500 futures trade three points below fair value.

February producer prices fell 0.5% while the Briefing.com consensus called for an increase of 0.3%. Core producer prices also declined 0.5% while the consensus expected an uptick of 0.1%.

7:59 am: [BRIEFING.COM] S&P futures vs fair value: -2.90. Nasdaq futures vs fair value: +0.80. U.S. equity futures hold modest pre-market losses amid cautious action overseas. The S&P 500 futures hover three points below fair value after a recent slide into negative territory.

On a related note, the Dollar Index (99.72, +0.29) is higher by 0.2% and is on track to extend its March gain to 4.6%. Crude oil, meanwhile, has retreated overnight and currently trades lower by 2.3% at $45.98/bbl.

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.

Treasuries trade little changed with the 10-yr yield at 2.12%.

In U.S. corporate news:

Aeropostale (ARO 3.52, -0.18): -4.9% after its cautious guidance overshadowed a bottom-line beat.
El Pollo Loco (LOCO 27.05, +3.05): +12.7% after beating earnings and revenue estimates.
Spectrum Pharmaceuticals (SPPI 6.66, +0.40): +6.4% after missing bottom-line expectations on better than expected revenue.
Ulta Salon (ULTA 158.00, +13.18): +9.1% after beating estimates and guiding Q1 revenue ahead of analyst expectations.

Reviewing overnight developments:

Asian markets ended mixed, but Hong Kong's Hang Seng +0.1%, China's Shanghai Composite +0.7%, and Japan's Nikkei +1.4% posted gains.
In economic data:
Japan's January Industrial Production +3.7% month-over-month (expected +4.0%; prior +4.0%) and Capacity Utilization +3.6% month-over-month (prior +2.0%)
South Korea's February Export Price Index -7.9% year-over-year (prior -8.6%) while Import Price Index -17.8% year-over-year (prior -19.4%)
Singapore's Q4 Unemployment Rate held at 1.9%, as expected, while January Retail Sales +4.8% month-over-month (expected -0.6%; prior -1.2%); -5.0% year-over-year (expected -1.1%; prior +4.6%)
In news:
According to Nikkei, six major electronics manufacturers are expected to raise their monthly base pay by JPY3,000.

Major European indices trade lower across the board. UK's FTSE -0.3%, France's CAC -0.3%, and Germany's DAX -0.4%. Elsewhere, Italy's MIB -0.1% and Spain's IBEX -0.1%.
In economic data:
Germany's February Wholesale Price Index +0.5% month-over-month (expected -0.2%; previous -0.4%); -2.1% year-over-year (last -2.6%)
Italy's February CPI +0.4% month-over-month (expected 0.3%; prior 0.4%); -0.1% year-over-year (consensus -0.2%; last -0.1%)
Among news of note:
The Bank of Russia cut its key interest rate to 14.0% from 15.0% and indicated that more cuts should be expected amid slowing inflation.
European Commission President Jean-Claude Juncker shared his displeasure with recent Greece-related developments, saying not enough progress has been made.

5:58 am: [BRIEFING.COM] S&P futures vs fair value: +2.30. Nasdaq futures vs fair value: +6.80.

5:58 am: [BRIEFING.COM] Nikkei...19254.25...+263.10...+1.40%. Hang Seng...23823.21...+25.30...+0.10%.

5:58 am: [BRIEFING.COM] FTSE...6762.04...+1.00...+0.00%. DAX...11822.09...+22.10...+0.20%.

Special thanks to Bloomberg, Briefing, 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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