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 Post subject: March 17th Tuesday Trade Results - Profit $2970.00
PostPosted: Wed Mar 18, 2015 1:29 am 
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Joined: Sat Jan 10, 2009 2:06 pm
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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 @ $220.00 dollars or +2.20 points, Emini ES ($ES_F) futures @ $2,750.00 dollars or +55.00 points, Light Crude Oil CL ($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 @ $2,970.00 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=2029

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


4:10 pm: [BRIEFING.COM] The stock market ended the Tuesday session on a mixed note ahead of Wednesday's release of the latest policy directive from the Federal Reserve. The Nasdaq Composite added 0.2% while the S&P 500 and Dow Jones Industrial Average lost 0.3% and 0.7%, respectively.

Equity indices endured some selling in the early going, but the Nasdaq spent the day ahead of the broader market thanks to relative strength in the technology sector (+0.1%). Specifically, shares of Apple (AAPL 127.04, +2.09) climbed 1.7%, which underpinned the sector and the Nasdaq. Meanwhile, most large cap components struggled, which was also the case with high-beta chipmakers. The PHLX Semiconductor Index fell 0.7%. That being said, the daylong strength within the technology sector helped the broader market erase the bulk of its early decline.

The Nasdaq received another measure of support from biotechnology with the iShares Nasdaq Biotechnology ETF (IBB 356.25, +2.28) climbing 0.6% to a new record. However, the health care sector (-0.3%) could not turn positive.

Similarly, another influential sector-industrials (-0.4%)-ended in the red even though transport stocks displayed relative strength with the Dow Jones Transportation Average ending just below its flat line. The broader sector could not follow suit as the largest component-General Electric (GE 25.31, -0.14)-lost 0.6%.

Elsewhere among cyclical sectors, energy (-0.5%) settled among the laggards as crude oil faced continued pressure. The energy component fell 1.2% to $43.15/bbl after marking a session low at $42.75/bbl this morning. Crude oil endured a volatile day and made a brief appearance in the green while the Dollar Index (99.66, +0.06) spent the session near its unchanged level. However, the Dollar Index is likely to be active tomorrow when investors respond to the FOMC policy statement.

The main point of focus will be whether the Fed decides to keep its reference to remaining "patient" ahead of the first rate hike. In a recent appearance before the Senate Banking Committee, Fed Chair Janet Yellen said that removing the call for patience would open the door to a potential rate hike at any policy meeting that follows.

Treasuries held solid gains in the morning, but the 10-yr note cut its gain in half, sending the benchmark yield lower by two basis points to 2.06%.

Today's participation was below average with roughly 700 million shares changing hands at the NYSE floor.

Economic data was limited to February housing starts, which declined 17.0% to 897,000 from an upwardly revised 1.081 million (from 1.065 million) while the Briefing.com consensus expected a decline to 1.041 million. Record snowfall in the Northeast and extreme cold in the Midwest likely played a large part in curtailing new construction. Housing starts in these regions declined 45.0% in February, from 262,000 in January to 144,000. Those regions accounted for 64.0% of the entire February decline in housing starts.

Still, the weather can't be completely at fault. Poor underlying economic conditions likely caused some of the February pullback. For example, in the West region, warmer-than-normal temperatures should have helped offset some of the decline from the East, but that did not happen. Starts fell 18.2% to 239,000 in February from 292,000.

Tomorrow, the weekly MBA Mortgage Index will be released at 7:00 ET while the Federal Open Market Committee will release its latest policy statement at 14:00 ET.

Nasdaq Composite +4.3% YTD
Russell 2000 +3.2% YTD
S&P 500 +0.7% YTD
Dow Jones Industrial Average +0.2% YTD

3:35 pm: [BRIEFING.COM]

Natural gas futures rallied today apparently on a Northeast cold blast, boosting demand for heating fuel
Ultimately, Apr nat gas closed 5.5% higher today at $2.86/MMbtu
WTI crude oil futures were weak again and fell for a sixth consecutive session
Apr crude finished $0.51 lower at $43.43/barrel
Apr gold lost $5.50 today to $1147.90/oz, while May silver fell $0.08 to $15.53/oz
May copper declined $0.03 to $2.64/lb

3:00 pm: [BRIEFING.COM] The S&P 500 trades lower by 0.3% with one hour remaining in the session. The benchmark index has retraced about a third of yesterday's advance, but has been able to hold above its 50-day moving average (2,060) thanks to the relative strength of the technology sector (unch).

Meanwhile, the remaining sectors trade in the red with the utilities sector (-0.2%) showing relative strength while the other eight groups trail the broader market.

Elsewhere, Treasuries remain inside narrow ranges that have held through the afternoon. The benchmark 10-yr yield is lower by two basis points at 2.06%.

2:25 pm: [BRIEFING.COM] The S&P 500 (-0.4%) remains near the middle of its trading range while the Nasdaq Composite (+0.1%) hovers just above its flat line thanks to a 1.8% gain in the shares of Apple (AAPL 127.15, +2.20).

In addition, the tech-heavy index has received support from biotechnology, evidenced by a 0.2% gain in the iShares Nasdaq Biotechnology ETF (IBB 354.61, +0.64). Interestingly, the industry group has not been able to lift the health care sector, which remains lower by 0.5%.

Despite today's underperformance, the health care sector is this week's top performer (+1.7%) and one of just two groups that sport March gains. The defensively oriented sector has added 1.0% so far this month while the financial sector is higher by 0.7% since the end of February.

1:55 pm: [BRIEFING.COM] The S&P 500 hovers in the middle of its trading range.

The economic data this morning produced another disappointment. This time, however, the weakness was mostly due to exogenous factors and not economic fundamentals.

Housing starts declined 17.0% in February to 897,000 from an upwardly revised 1.081 mln (from 1.065 mln) in January. The Briefing.com Consensus expected housing starts to decline to 1.041 mln.

Many analysts have blamed inclement weather conditions for the poor retail sales and industrial production reports that were released over the last few days. Our analysis of the data suggested there were more underlying problems than just the weather.

Much of the poor housing data, though, can rightfully be blamed on bad weather.

Record snowfall in the Northeast and extreme cold in the Midwest likely played a large part in curtailing new construction. Housing starts in these regions declined 45.0% in February, from 262,000 in January to 144,000. Those regions accounted for 64% of the entire February decline in housing starts.

1:30 pm: [BRIEFING.COM] The major U.S. indices continue to pare larger losses from earlier. The Nasdaq for its part briefly turned positive after being down more than 20 points earlier today

That recent strength in stocks has seen the information technology sector (+0.2%) push into positive territory, while the other nine S&P sectors have all bounced from lower levels.

Also notable in recent action is the move in crude oil. WTI crude (+0.25% to $44/bbl) is now showing gains on the day despite declining by 3% earlier in the session.

In equities, shares of MGM resorts (MGM 21.71, +2.05) are outperforming after activist investor Land & Buildings filed an investor presentation proposing a REIT conversion for MGM to unlock shareholder value.

12:55 pm: [BRIEFING.COM] The major averages trade lower across the board at midday with the Nasdaq (-0.1%) and S&P 500 (-0.5%) trading ahead of the Dow Jones Industrial Average (-0.8%).

Equity indices enjoyed a broad-based rally yesterday, but they have given back a portion of the Monday advance today. All ten sectors sport midday losses with only three groups trading ahead of the S&P 500.

The technology sector (-0.1%) has spent the first half in the neighborhood of its flat line, largely due to the outperformance of its top component. Shares of Apple (AAPL 126.82, +1.87) trade higher by 1.5% which has contributed to the outperformance of the Nasdaq, but other large cap tech names sit in the red. High-beta chipmakers also lag with the PHLX Semiconductor Index lower by 1.0%.

Technology notwithstanding, telecom services (-0.3%) and utilities (-0.2%) trade ahead of the broader market, but the two groups hold little sway since they only represent about 6.0% of the entire S&P 500.

Meanwhile, the smallest cyclical sector by weight-materials (-1.5%)-is today's weakest performer while the other commodity-linked sector-energy-is lower by 0.5%. On a related note, crude oil trades little changed at $43.87/bbl after setting a morning low near $42.75/bbl.

The intraday rebound in crude has taken place amid range-bound action in the dollar that has the Dollar Index (99.61, 0.00) trading flat at this juncture.

Treasuries have slipped from their morning highs, but they remain in the green with the 10-yr yield lower by two basis points at 2.06%.

Economic data was limited to February housing starts, which declined 17.0% to 897,000 from an upwardly revised 1.081 million (from 1.065 million) while the Briefing.com consensus expected a decline to 1.041 million. Record snowfall in the Northeast and extreme cold in the Midwest likely played a large part in curtailing new construction. Housing starts in these regions declined 45.0% in February, from 262,000 in January to 144,000. Those regions accounted for 64.0% of the entire February decline in housing starts.

Still, the weather can't be completely at fault. Poor underlying economic conditions likely caused some of the February pullback. For example, in the West region, warmer-than-normal temperatures should have helped offset some of the decline from the East, but that did not happen. Starts fell 18.2% to 239,000 in February from 292,000.

12:30 pm: [BRIEFING.COM] Not much change in the market with the S&P 500 (-0.6%) trading just two points above its session low. With the FOMC policy statement scheduled to be released tomorrow afternoon, it wouldn't be surprising to see the market trade in sideways fashion until then.

Tomorrow, investors will comb through the policy statement to see whether the Fed keeps its reference to remaining "patient" ahead of the first rate hike. During her recent appearance before the Senate Banking Committee, Fed Chair Yellen said that removing the call for patience would open the door to a potential rate hike at any policy meeting that follows.

Treasuries have spent the past month in a relatively narrow range after sliding from their February highs when the 10-yr yield tested the 1.70% level.

12:00 pm: [BRIEFING.COM] The major averages continue trading near their worst levels of the day with all ten sectors registering losses.

Yesterday's rally was paced by countercyclical sectors, but health care (-0.9%) and consumer staples (-0.9%) are among today's weakest performers. Meanwhile, telecom services (-0.3%) and utilities (-0.1%) trade ahead of the remaining groups. As for the cyclical side, the technology sector (-0.3%) is the only outperformer while most other groups display losses comparable to the broader market.

Although all ten sectors display losses today, only the materials sector (-1.4%) has turned negative for the week, down 1.6%. The remaining nine sectors continue holding week-to-date gains between 0.3% (consumer staples) and 1.6% (utilities).

11:30 am: [BRIEFING.COM] Equity indices have slipped to new lows with the S&P 500 now down 0.7%. The benchmark index now finds itself just six points above its 50-day moving average (2,060), which has been an area of focus for the past week.

The S&P 500 fell below that mark last Tuesday, but was able to find support at its 100-day moving average the next day. However, the index has struggled to make a sustained return above its 50-day average since then.

Interestingly, today's decline has taken place even though Treasuries have surrendered the bulk of their morning gains, leaving the 10-yr yield lower by a basis point at 2.06%.

10:55 am: [BRIEFING.COM] Not much change in the market with the major averages drifting near their session lows. The Dow Jones Industrial Average (-0.7%) remains behind the other indices while the Nasdaq (-0.2%) and Russell 2000 (-0.2%) outperform.

The relative strength of the Nasdaq is largely due to a 1.5% gain in the shares of Apple (AAPL 126.82, +1.87), which has also contributed to the outperformance of the technology sector (-0.2%). However, most other large cap tech names trade in negative territory.

The tech sector is the only cyclical group trading ahead of the broader market while the other five growth-sensitive sectors lag. The materials sector (-1.1%) is the weakest performer while energy (-0.8%) trades a little ahead while crude oil remains lower by 1.8% at $43.08/bbl.

10:40 am: [BRIEFING.COM]

Oil futures are down for a sixth consecutive day
Apr crude fell as low as $42.63/barrel. Crude attempted to recover, but following a decent rally crude is pulling back again
Apr crude is now -1.4% at $43.25/barrel
Natural gas futures rallied notably this morning to as high as $2.85/MMBtu.
This strength is holding and nat gas is now +3.8% at $2.82/MMBtu
Gold and silver futures rallies in recent trade with both hitting new highs on the day.
Apr gold is now +0.1% at $1154.90, while May silver is +0.2% at $15.65/oz
May copper has been in the red this morning and is now 1.5% at $2.63/lb

10:00 am: [BRIEFING.COM] Equity indices have extended their opening losses with the Dow Jones Industrial Average (-0.9%) pacing the decline as 29 of its 30 components trade in negative territory.

Meanwhile, the S&P 500 is lower by 0.6% with five of six cyclical sectors trailing the broader market while technology (-0.3%) outperforms thanks to a 1.0% gain in the shares of Apple (AAPL 126.22, +1.27). Chipmakers, however, have not shown comparable strength as nearly all components of the PHLX Semiconductor Index (-1.0%) trade in the red.

On a separate note, crude oil remains lower by 1.5% at $43.17/bbl after climbing off its early morning low near $42.75/bbl.

9:40 am: [BRIEFING.COM] As expected, the major averages began the day under pressure. The S&P 500 trades lower by 0.4% with nine sectors showing opening losses.

Heavily-weighted sectors have paced the opening decline with consumer discretionary (-0.5%), financials (-0.5%), and industrials (-0.4%) showing relative weakness in the early going. However, the top-weighted technology sector (-0.1%) trades just below its flat line, which has helped the Nasdaq (-0.1%) stay ahead of the S&P 500.

Elsewhere, Treasuries have slid from their highs with the 10-yr yield narrowing its decline to a basis point at 2.07%.

9:14 am: [BRIEFING.COM] S&P futures vs fair value: -9.60. Nasdaq futures vs fair value: -9.30. The stock market is on track for a lower open as futures on the S&P 500 trade ten points below fair value. Index futures slumped to their pre-market lows at the start of the session in Europe where most indices are down close to 1.0% apiece after surging steadily through the first eight weeks of the year.

Domestically, investors are readying for tomorrow's policy statement from the Federal Open Market Committee, and it remains to be seen whether the Fed will drop the "patient" language from its directive. Chair Yellen has previously indicated that removing the reference from the statement would open the door to a potential rate hike at any policy meeting that follows.

However, a recent string of disappointing data has led to questions about how eager the Fed will be to tighten its policy. To that point, today's Housing Starts report (897K; Briefing.com consensus 1.041 million) was the latest disappointment on the economic front. Adverse weather in the Northeast contributed to the miss, but the West Coast region saw an 18.2% decline despite warmer than average temperatures.

The Dollar Index (99.36, -0.24) held its ground through the release and it remains lower by 0.2% with the euro adding about 50 pips against the dollar (1.0630). Treasuries, meanwhile, hold modest gains with the 10-yr yield down two basis points at 2.05%.

8:57 am: [BRIEFING.COM] S&P futures vs fair value: -9.80. Nasdaq futures vs fair value: -9.80. The S&P 500 futures trade ten points below fair value.

Markets in the Asia-Pacific region followed Wall Street's lead on Tuesday and ended mostly higher, paced by notable gains in South Korea's Kospi Index (+2.2%), China's Shanghai Composite (+1.6%), and Japan's Nikkei (+1.0%), which powered its way to another new 15-year high. Separately, both the Bank of Japan and Bank Indonesia left their key policy rates unchanged as expected at 0.10% and 7.50%, respectively.

In economic data:
China's February Foreign Direct Investment +17.0% (previous +29.4%)
Hong Kong's February Unemployment Rate held at 3.3%, as expected
Japan's Leading Index rose to 105.5 from 105.1 (expected 105.1)
Indonesia's January Loans +11.5% year-over-year (prior +11.6%)
Singapore's February trade surplus narrowed to SGD5.18 billion from SGD8.50 billion (expected SGD6.00 billion)

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Japan's Nikkei increased 1.0% to a new 15-year high. Gains were broad-based with all sectors increasing on the day. The strongest areas were the technology (+2.8%), industrial (+1.5%), and consumer non-cyclical (+1.3%) sectors. The top individual gainers were TDK Corp (+6.4%), Minibea Co (+5.9%), Kao Corp (+4.7%), Hitachi Ltd (+4.3%), and Sony Corp (+4.3%). Out of the 225 index members, 138 closed higher, 75 closed down, and 12 were unchanged.
Hong Kong's Hang Seng declined 0.2%. Losses in the communications (-0.9%), consumer cyclical (-0.7%), and basic materials (-0.5%) sectors weighed, while the key financial sector was flat. Individual winners included China Merchants Holdings Intl (+4.3%), China Resources Power Holdings (+3.1%), and China Resources Land Ltd (+2.4%). The biggest decliners were Sands China (-2.9%), Sino Land Co (-2.4%), and Wharf Holdings Ltd (-2.0%). Out of the 50 index members, 22 were up, 21 were down, and 7 were unchanged.
China's Shanghai Composite jumped another 1.6% and finished the day with a strong move higher over the final hour of trading. Leading sectors included the financial (+1.6%), utilities (+1.5%), and industrial (+1.2%) sectors as policy stimulus hopes continued to fuel buying interest. Over the last five trading sessions, the Shanghai Composite has increased 6.6%.

Major European indices trade mostly lower as participants take profits following a big run that began in January. Germany's DAX is the weakest performer (-1.4%) after surging 24.0% since the end of 2014.

Economic data was limited:
Eurozone CPI +0.6% month-over-month; -0.3% year-over-year. Both readings matched expectations. Separately, Core CPI +0.7% year-over-year (expected 0.6%; prior 0.6%) and ZEW Economic Sentiment rose to 62.4 from 52.7 (expected 58.2)
Germany's March ZEW Economic Sentiment ticked up to 54.8 from 53.0 (expected 58.2) as ZEW Current Conditions rose to 55.1 from 45.5 (consensus 50.0)

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UK's FTSE is higher by 0.2% with energy names providing support. BG Group, BP, Royal Dutch Shell, and Tullow Oil are up between 1.5% and 4.9%. On the downside, consumer names Tesco and WM Morrison Supermarkets trade lower by 2.3% and 1.9%, respectively.
In France, the CAC is lower by 0.9% with industrials on the defensive. Airbus Group, Alstom, and Safran are down between 1.9% and 3.8%. On the upside, Technip and Total are both up near 1.1% despite lower oil prices.
Germany's DAX has given up 1.4% with all 30 names in the red. Adidas, Daimler, Commerzbank, and Siemens hold losses between 1.2% and 2.6%.

8:32 am: [BRIEFING.COM] S&P futures vs fair value: -8.60. Nasdaq futures vs fair value: -10.80. The S&P 500 futures hover nine points below fair value.

Housing Starts fell to a seasonally adjusted annualized rate of 897,000 units in February. That was down from a revised 1.081 million units in January (from 1.065 million). The Briefing.com consensus expected starts to decrease to 1.041 million units.

Building permits rose to a seasonally adjusted annualized rate of 1.092 million in February versus a revised 1.060 million for January (from 1.053 million). The Briefing.com consensus expected permits to come in at 1.07 million.

7:57 am: [BRIEFING.COM] S&P futures vs fair value: -10.30. Nasdaq futures vs fair value: -14.60. U.S. equity futures trade lower amid defensive action overseas. The S&P 500 futures hover ten points below fair value after slipping to lows at the start of the European session, where regional indices are enduring some profit taking following a big run.

On a related note, the Dollar Index (99.48, -0.12) is little changed, but that has not stopped crude oil from sliding lower by 2.7% to $42.68/bbl. The greenback is likely to be on the move tomorrow after the Federal Reserve releases its latest policy statement at 14:00 ET.

Today's data will be limited to February Housing Starts (Briefing.com consensus 1.041 million) and Building Permits (consensus 1.07 million) with both set to be reported at 8:30 ET.

Treasuries hold modest gains with the 10-yr yield lower by three basis points at 2.04%.

In U.S. corporate news of note:

DSW (DSW 39.49, +2.64): +7.2% after beating estimates and issuing mixed guidance.
Zebra Technologies (ZBRA 94.00, +5.10): +5.7% after beating bottom-line estimates and guiding Q1 earnings below consensus.


Reviewing overnight developments:

Asian markets ended mostly higher. China's Shanghai Composite +1.5%, Japan's Nikkei +1.0%, and Hong Kong's Hang Seng -0.2%.
In economic data:
China's February Foreign Direct Investment +17.0% (previous +29.4%)
Hong Kong's February Unemployment Rate held at 3.3%, as expected
Japan's Leading Index rose to 105.5 from 105.1 (expected 105.1)
Indonesia's January Loans +11.5% year-over-year (prior +11.6%)
Singapore's February trade surplus narrowed to SGD5.18 billion from SGD8.50 billion (expected SGD6.00 billion)
In news:
The Bank of Japan made no changes to its policy and Govenor Haruhiko Kuroda said he does not expect the recent slowdown in inflation to affect "broad price trends."

Major European indices trade mostly lower. Germany's DAX -1.3%, France's CAC -0.8%, and UK's FTSE is flat. Elsewhere, Italy's MIB -1.1% and Spain's IBEX -1.1%.
Economic data was limited:
Eurozone CPI +0.6% month-over-month; -0.3% year-over-year. Both readings matched expectations. Separately, Core CPI +0.7% year-over-year (expected 0.6%; prior 0.6%) and ZEW Economic Sentiment rose to 62.4 from 52.7 (expected 58.2)
Germany's March ZEW Economic Sentiment ticked up to 54.8 from 53.0 (expected 58.2) as ZEW Current Conditions rose to 55.1 from 45.5 (consensus 50.0)
Among news of note:
UK's FTSE outperforms amid strength in energy-related names. BG Group, BP, Royal Dutch Shell, and Tullow Oil are up between 1.7% and 6.1% despite a retreat in crude oil.

5:40 am: [BRIEFING.COM] S&P futures vs fair value: -7.50. Nasdaq futures vs fair value: -12.00.

5:40 am: [BRIEFING.COM] Nikkei...19437...+190.90...+1.00%. Hang Seng...23901.49...-48.10...-0.20%.

5:40 am: [BRIEFING.COM] FTSE...6830.08...+26.00...+0.40%. DAX...12123.10...-44.60...-0.40%.

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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