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 Post subject: August 24th Monday Trade Results - Profit $29557.75
PostPosted: Mon Aug 24, 2015 2:06 pm 
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Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
Image

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)
wrbanalysis@gmail.com (24/7)
http://twitter.com/wrbtrader (24/7)

Attachment:
082415-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+29557.75.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 @ $2120.00 dollars or +21.20 points, Emini ES ($ES_F) futures @ $27437.50 dollars or +548.75 points, Light Crude Oil CL ($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 @ $29557.75 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 free 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=146&t=2153

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=269&t=2840 contains brief information about trading plan, market context, brokers, trading time frames, position size management and other discussions.

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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]

Related Stories

After Remarkable Trading Day, Market More Likely to Head to Lower Lows TheStreet.com
GLOBAL MARKETS-China share plunge smacks world markets Reuters
U.S. stocks end volatile session with steepest losses in 4 years MarketWatch
US STOCKS-Wall St pares losses but still down sharply Reuters

Global equity markets began the last full week of August with a broad-based tumble that began overnight in Asia and continued into the U.S. session. When the dust settled, the S&P 500 ended lower by 3.9% after opening with a 5.3% loss while the Nasdaq Composite lost 3.8% after starting the day with an 8.8% decline.

The Monday retreat began unfolding shortly after Asian markets opened for action with continued concerns about global economic growth weighing on investor sentiment. China's Shanghai Composite paced the overseas weakness, plunging 8.5%, after the weekend went by without direct policy intervention from the People's Bank of China. Instead, pension funds managed by local governments were allowed to invest in the stock market, but that development was all but ignored.

There was no respite during the European session as equity indices across the old continent faced daylong pressure with France's CAC, Germany's DAX, and UK's FTSE losing between 4.7% and 5.4%. Notably, an extension of recent selling in the DAX resulted in the index widening its slide from record highs to 22.0%, representing bear market territory.

Once the U.S. session got going, a chaotic first hour ensued, featuring wide spreads, low liquidity, and a mad dash for volatility protection. In fact, the CBOE Volatility Index (VIX 40.03, +12.00) did not produce any quotes during the first 30 minutes of the session, but once quotes resumed, the index soared past levels seen during the May 2010 flash crash. The VIX notched its high just below 53.50%, but retreated into the 40.00% area by the close.

Today's selling was far-reaching with just 136 NYSE listings ending in the green while 3079 names posted losses. Given that dynamic, it wasn't surprising to see all ten sectors end the day in negative territory with losses ranging from 3.1% (telecom services) to 5.2% (energy).

The energy sector finished the day behind other groups, widening its Q3 decline to 20.5% as crude oil contributed to the persistent weakness.The energy component was clipped by the overarching global macro concerns, tumbling 5.4% to $38.25/bbl.

Crude was unable to draw support from greenback weakness even as the Dollar Index fell 1.7%. Most notably, the dollar slid 2.8% against the yen (118.60) and surrendered 1.8% to the euro (1.1595) as the unwinding of carry trades took a toll on the dollar. Meanwhile, Treasuries rallied overnight, hitting their best levels around 9:30 ET before retreating from those highs. The 10-yr note ended the day with a gain, sending its yield lower by four basis points to 2.04%.

The intraday retreat in Treasuries occurred as stocks attempted a recovery, but the market met renewed selling and returned into the lower half of its trading range by the close.

Monday's aggressive selloff invited above-average participation with more than 1.6 billion shares changing hands at the NYSE floor.

Investors did not receive any economic data today, but a few reports will be released tomorrow. The Case-Shiller 20-city Index for June (Briefing.com consensus 5.1%) and the June FHFA Housing Price Index will both be released at 9:00 ET while July New Home Sales (consensus 511K) and August Consumer Confidence (expected 93.1) will be reported at 10:00 ET.

Nasdaq Composite -4.4% YTD
Russell 2000 -7.6% YTD
S&P 500 -8.0% YTD
Dow Jones Industrial Average -10.9% YTD

3:35 pm: [BRIEFING.COM]

Commodities plunged today following the overnight Asia sell-off. Oil prices tanked and remain near today's lows in electronic trade.
In today's floor session, WTI crude oil lost -5.4% to finish at $38.25/barrel.
WTI extended losses in electronic trading, while Brent crude oil just hit a new low for today.
Sept natural gas, on the other hand, fell -1.1% to close at $2.65/MMBtu.
Silver fell sharply today, leading losses in the metals space, falling -3.9% in floor trading to end at $14.73/oz. Dec gold lost -0.5% to $1153.40/oz.
Sept copper fell -2.2% today to $2.26/lb

2:55 pm:

[BRIEFING.COM] The S&P 500 trades lower by 3.8% with one hour remaining in the session.

After opening with a 5.3% loss, the benchmark index spent the first three hours of action charging off those lows, but renewed selling pressure has the index back in the bottom half of today's trading range.

The final hour of today's session will provide some insight into market sentiment as the ability to end the day above opening lows would be viewed as a more encouraging development than a slide to new lows.

All ten sectors hold losses of 3.0% or more with the energy space (-5.0%) trailing the remaining nine sectors after crude oil settled lower by 5.4% at $38.25/bbl.

2:30 pm:

The S&P 500 (-2.8%) hovers in the middle of today's trading range after spending the past hour in a retreat from its rebound high. Given its current level, the benchmark index is down 8.9% for the month while the Nasdaq Composite (-2.5%) outperforms slightly today, but is down 10.5% so far in August.

Today's selloff, and the subsequent partial recovery, has invited very strong participation. With 90 minutes left in the trading day, NYSE floor volume has already climbed above 920 million while more than two billion shares have traded at the Nasdaq.

Elsewhere, Treasuries continue holding modest gains with the 10-yr yield down two basis points at 2.02% after hitting a session low at 1.91% this morning.
2:00 pm: [BRIEFING.COM] The major averages trade a bit below their rebound highs with the S&P 500 down 2.2%.

With no new economic data, we look to tomorrow's new home sales report.

New home sales declined 6.8% in June to 482,000 from a downwardly revised 517,000 in May. The Briefing.com Consensus expects new home sales to increase to 511,000 in July.

The drop in June sales was disappointing.

Trends in the existing home space have been pointing up for the past several months and conjoined growth with new home sales was expected.

Tight supplies may be holding back demand in new home sales. If that is the case, then sales may not pick up until home construction accelerates from current levels.
Related Stories

InPlay from Briefing.com Briefing.com
NYSE Will Suspend Stock Trading If S&P 500 Index Plunges 7% Bloomberg
China fears hand Wall St its worst day since 2011 Reuters
Stocks recover from sharp losses as oil rise boosts energy CNBC
Stocks are sliding Business Insider

1:30 pm:

[BRIEFING.COM] The major U.S. indices have fallen back lower since our last update and the rally off earlier lows loses some momentum.

A look inside the Dow Jones Industrial Average shows UnitedHealth Group (UNH 112.89, -3.39), Coca-Cola (KO 38.45, -1.08), and DuPont (DD 50.71, -1.29) are underperforming amid global, broad market weakness.

Conversely, Intel (INTC 27.26, +0.70) is the best-performing Dow component on the heels of a rally in semiconductors.

At current levels, off over 800 points from today's low, the DJIA is down 1.4% to start the week, and is now down almost 9% YTD.

12:55 pm:

[BRIEFING.COM] The major averages trade in the red at midday, but the current standing has masked an opening plunge that briefly sent the Nasdaq Composite lower by 8.8%. The tech-heavy index has erased the vast majority of that decline, narrowing its loss to 0.6% while the S&P 500 remains lower by 1.1% after being down 5.3% at the start.

There was no singular reason behind the opening dive, but continued concerns about global economic growth weighed on investor sentiment as China's Shanghai Composite plunged 8.5% after the weekend went by without direct policy intervention from the People's Bank of China.

The carnage extended to Europe with markets in France, Germany, and the UK losing between 4.7% and 5.4%. The German DAX was in the headlines this morning as the index extended its slide from record highs to 22.0%, entering bear market territory.

Domestically, Treasuries rallied during overnight action, but they have spent the past three hours in a retreat from highs. Still, the 10-yr note remains in the green with its yield down two basis points at 2.03%. Meanwhile, the Dollar Index has tumbled 1.2% with the greenback surrendering 1.6% to the euro (1.1560) as investors unwind euro-based carry trades.

All ten sectors remain in negative territory, but the top-weighted technology space (-0.3%) hovers just below its flat line with select large cap names showing relative strength. Apple (AAPL 107.48, +1.75) has spiked 1.6% after showing a 13.0% decline at the opening bell while high-beta chipmakers display broad strength with the PHLX Semiconductor Index trading higher by 1.8%.

In other high-beta areas, biotechnology has recovered from considerable weakness in the early going. The iShares Nasdaq Biotechnology ETF (IBB 339.13, -0.71) has narrowed its loss to 0.2% while the health care sector remains lower by 1.0%.

Elsewhere, the energy sector (-2.2%) is burrowed below the remaining nine sectors amid continued weakness in crude oil that has the energy component trading lower by 3.6% at $39.00/bbl at this juncture.

12:25 pm:

[BRIEFING.COM] Equity indices have continued their recovery effort with the Nasdaq Composite narrowing its loss to 0.4% after being down nearly 9.0% at the start.

Fittingly, large components of the technology sector (-0.1%) have fueled the rebound in the Nasdaq. The largest sector component-Apple (AAPL 107.63, +1.87)-trades higher by 1.8% while Intel (INTC 27.14, +0.58), Facebook (FB 86.36, +0.30), and Microsoft (MSFT 43.03, -0.04) also trade ahead of the broader market.

Meanwhile, high-beta biotech names continue holding losses, but iShares Nasdaq Biotechnology ETF (IBB 337.92, -1.92) has narrowed its decline to 0.6% as the biotech group tries to keep pace with the Nasdaq.

11:55 am:

[BRIEFING.COM] The major averages have inched up off their recent levels, but the Dow, Nasdaq, and S&P 500 continue showing losses close to 1.5% apiece.

At the start of today's session there were fewer than 15 names trading in the green at the New York Stock Exchange as the market plunged. Since then, a few more listings have climbed into the green, bringing the number of advancers to ?194 against 2971 stocks trading in the red.
Related Quotes

Looking into the Dow, 28 of 30 index components trade in the red while Apple (AAPL 107.27, +1.51) and Intel (INTC 26.71, +0.15) hold gains.

11:30 am:

[BRIEFING.COM] Equity indices remain pressured with the S&P 500 trading lower by 3.1%.

Today's opening plunge in equities was so jarring that the CBOE Volatility Index (VIX 38.04, +10.01) spiked above levels seen during the flash crash in 2010. The VIX hit a session high just above the 53.0% level before pulling back to its current mark as investors dashed for downside protection.

Interestingly, Treasuries have spent the past 90 minutes or so in a steady slide from their intraday highs. As a result, the 10-yr yield remains lower by five basis points at 2.00% after hitting a low at 1.91%.

10:55 am:

[BRIEFING.COM] Equity indices remain bruised and battered, but they have crawled off their opening lows. The S&P 500 (-2.5%) was down nearly 105 points at the start and the index continues holding about half of that decline at this juncture.

The first hour of the session featured a chaotic scramble amid widening spreads as poor liquidity prevented normal order matching from taking place. Things have settled down a bit since then, but a lot more work has to be done to repair the damage done earlier today.

All ten sectors continue holding losses with seven groups down more than 2.0%. The top-weighted technology sector has narrowed its loss to 2.0% while energy (-3.2%) trades behind the remaining sectors. On a related note, crude oil has spent the past hour in a steady charge off its low, but the energy component remains lower by 2.8% at $39.33/bbl.

10:35 am: [BRIEFING.COM]

Commodities have broadly sold-off this morning, following overnight Chinese equity volatility that has so far, triggered focused concern over global economic strength
Those global concerns have pressed firmly on US equities today, which has given investors cause to further disbelieve the prospect of a near term rate hike
The dollar index has accordingly gotten crushed so far this morning, as the market has begun to cut probabilities for a September Fed Funds rate increase.
The index is currently -1.8% to 93.3
Energy is trading mixed, as oil ?extends large losses made primarily over the weekend and Nat gas is holding modest gains amidst the broad sell-off.
Global demand concern emanating from slower growth in China(in addition to equity volatility) has WTI -4% to $38.84/barrel . September Nat. Gas is stemming most losses on calls for near-term US national temperature increases (?also building on momentum from last week's bullish inventory data)
Nat gas is now currently trading -0.2% to $2.69/MMBtu
Gold is trading modestly positive this morning, as a benefactor of safe-haven trading, while silver has sold off sharply.
December gold is now +0.1% to $1160.20/oz while September silver is down -2.1% to $14.97/oz
Copper got pummeled overnight, bottoming near the $2.21/lb level early, and has modestly rallied to recover a portion of it losses at -2.1% to $2.25/lb

10:00 am:

[BRIEFING.COM] The major averages are trying to fight their way back from opening lows, but they continue holding a large chunk of their early losses with the S&P 500 down 4.8% amid losses in all ten sectors.

The top-weighted technology sector (-5.2%) trades at the bottom of the leaderboard while other sectors hold losses close to 4.0% apiece. Meanwhile, the utilities sector trades ahead of its peers with a decline of 2.2%.

Today's selling has also taken a toll on the commodity market where crude oil has plunged 5.4% to $38.30/bbl. On a related note, the energy sector is lower by 4.4%.

Treasuries have ticked down from their highs, but they continue holding gains with the 10-yr yield down eight basis points at 1.97%.

9:40 am:

[BRIEFING.COM] As expected, the major averages began the trading day with widespread losses. The Nasdaq Composite has plunged 5.9% in the early going while the Dow (-4.8%) and S&P 500 (-4.5%) trade a bit ahead.

With the market facing broad pressure, only 22 listings at the New York Stock exchange trade in the green while nearly 1200 listings show losses. All ten sectors have plunged out of the gate with health care (-7.7%) pleading the retreat. On a related note, the high-beta biotechnology group has been broadsided with iShares Nasdaq Biotechnology ETF (IBB 310.00, -29.84) down 8.8%.

With heavy selling in equities, investors have shown demand for Treasuries, sending the 10-yr yield lower by 11 basis points to 1.94%.

9:15 am: [BRIEFING.COM] S&P futures vs fair value: -97.80. Nasdaq futures vs fair value: -202.90.

The stock market is on track for a sharply lower open with U.S. equities joining a global plunge in stocks that sent China's Shanghai Composite lower by 8.5% during overnight action. The move represented a continuation of recent weakness, but many identified the lack of a reserve requirement ratio cut by the People's Bank of China as a contributing factor.

The defensive sentiment has extended to Europe with major indices there flirting with losses in the neighborhood of 5.0% while U.S. Futures have also been battered. The S&P 500 futures have surrendered 98 points against fair value while Nasdaq futures have been halted three times after falling 5.0% in pre-market action.

With investors running for cover, U.S. Treasuries have rallied, notching their highs during the past 90 minutes with the 10-yr yield down ten basis points at 1.95%. Meanwhile, the Dollar Index has surrendered 2.3% with the euro rallying nearly 300 pips against the greenback to 1.1670 as investors continue unwinding euro-based carry trades.

8:55 am: [BRIEFING.COM] S&P futures vs fair value: -69.50. Nasdaq futures vs fair value: -202.90.

The S&P 500 futures trade 70 points below fair value.

Markets in the Asia-Pacific region were down big in a continuation of Friday's selling on Wall Street and on continued concerns about an economic slowdown in China. Notably, Chinese authorities did not announce any new, direct monetary stimulus for the Chinese market over the weekend, although the pension funds of local governments were authorized to invest in the stock market for the first time ever. That didn't make any difference as the Shanghai Composite (-8.5%) suffered its worst single-day loss since 2007, sliding into negative territory for the year after being up more than 50% for the year as recently as June.

In economic data:
Japan's Leading Index 106.5 (expected 107.2; prior 107.2)
Singapore's July CPI -0.4% year-over-year (expected -0.2%; prior -0.3%)

------

Japan's Nikkei declined 4.6%, feeling the drag of China's weakness and the strength of the yen on Japanese exporters. The downturn was paced by the financials (-7.8%), consumer discretionary (-5.6%), health care (-5.6%), and materials (-5.2%) sectors. Central Japan Railways (-8.7%), Nippon Light Metal Holdings Co (-8.7%), and Sumitomo Realty & Development Co (-8.4%) were the biggest losers. Out of the 225 index members, Sapporo Holdings (+2.7%) was the only stock to gain ground on Monday.
Hong Kong's Hang Seng declined 5.2%, taking its lead from the mainland market. Kunlun Energy (-18.0%), Tingyi Cayman Islands Holding (-10.9%), and CNOOC (-8.2%) led the way lower. Out of the 50 index members, CITIC Ltd. (+0.3%) was the only stock to finish with a gain.
China's Shanghai Composite plunged 8.5%, suffering its biggest single-day loss since 2007. The selloff occurred in spite of authorities giving the okay for pension funds of local governments to invest in the stock market for the first time. The Shanghai Composite, which had been up 54.6% for the year in June, is now down 4.2% for the year.

Major European indices trade lower across the board with France's CAC (-4.5%) leading the region lower. With continued weakness in global equities, the euro has rallied more than 150 pips against the dollar to 1.1540 as investors continue unwinding euro-based carry trades. Today's spike has extended the single currency's four-day rally against the greenback to nearly 500 pips.

Investors did not receive any economic data today

------

UK's FTSE is lower by 3.9% with all but one component in the red. RSA Insurance has added 1.6% while miners Anglo American, BHP Billiton, Glencore, Rio Tinto, and Fresnillo down between 5.0% and 8.4%.
Germany's DAX has tumbled 4.0% with all 30 components in the deep red. Financials Deutsche Bank and Commerzbank are both down near 5.0% apiece while utilities RWE and E.On trade at the bottom of the leaderboard with losses close to 6.3% apiece.
In France, the CAC has plunged 4.5% amid losses in all 40 index members. Steelmaker ArcelorMittal is the weakest component, down 7.7%, while exporters Renault and Peugeot show losses close to 6.0%.

8:28 am: [BRIEFING.COM] S&P futures vs fair value: -64.30. Nasdaq futures vs fair value: -202.90.

Equity futures have not been able to find any solid footing, falling to fresh pre-market lows in recent action. As a result, S&P 500 futures (-64 vs fair value) are now down nearly 3.5% while Nasdaq futures are flirting with a 5.0% decline in pre-market after being halted for volatility.

The global equity plunge has extended into the commodity market with crude oil trading lower by 4.2% at $38.75/bbl. Meanwhile, Treasuries remain near their recently-established highs with the 10-yr yield down six basis points at 1.99%.

7:58 am: [BRIEFING.COM] S&P futures vs fair value: -54.00. Nasdaq futures vs fair value: -183.90.

U.S. equity futures trade sharply lower amid defensive action overseas. The S&P 500 futures trade 54 points below fair value after spending the night under heavy pressure that had futures down nearly 65 points against fair value.

The global retreat began shortly after the start of the Asian session and many pointed to the lack of a reserve requirement ratio cut in China as one the reason behind the plunge in equities.

Treasuries have rallied and they trade near their highs at this time with the 10-yr yield down eight basis points at 1.97%.

In U.S. corporate news of note:

AGL Resources (GAS 48.34, +0.48): +1.0% after agreeing to be acquired by Southern Company (SO 46.14, +0.34) for $66/share in cash, representing a 38.0% premium to volume-weighted average price over the last 20 days.

Reviewing overnight developments:

Asian markets ended lower. Japan's Nikkei -4.6%, Hong Kong's Hang Seng -5.2%, and China's Shanghai Composite -8.5%
In economic data:
Japan's Leading Index 106.5 (expected 107.2; prior 107.2)
Singapore's July CPI -0.4% year-over-year (expected -0.2%; prior -0.3%)
In news:
Overnight safe-haven demand sent the Japanese yen to levels not seen since mid-May with the dollar/yen pair sliding roughly 200 pips to 120.00, representing the fourth consecutive daily decline for the pair

Major European indices trade lower across the board. UK's FTSE -4.1%, Germany's DAX -4.5%, and France's CAC -4.7%. Elsewhere, Italy's MIB -4.3% and Spain's IBEX -4.2%
Investors did not receive any economic data
Among news of note:
The euro has rallied more than 100 pips against the dollar to 1.1520 as investors continue unwinding euro-based carry trades. Today's spike has extended the single currency's four-day rally against the greenback to nearly 500 pips

6:06 am: [BRIEFING.COM] S&P futures vs fair value: -37.40. Nasdaq futures vs fair value: -138.90.

6:05 am: [BRIEFING.COM] Nikkei...18540.68...-895.20...-4.60%. Hang Seng...21251.57...-1158.10...-5.20%.

6:05 am: [BRIEFING.COM] FTSE...6044.97...-142.70...-2.30%. DAX...9881.00...-243.50...-2.40%.

MarketWatch

U.S. stocks end harrowing session with biggest drop in 4 years @ http://www.marketwatch.com/story/tense- ... 2015-08-24

Wall Street suffered one of its most volatile sessions in years Monday, with the Dow industrials plunging more than 1,000 points in the opening minutes, bouncing back to recover most of the losses and then fading into the final bell to record the biggest drop in four years.

Meanwhile the main benchmark S&P 500 slipped into correction territory, having fallen more than 10% from its peak reached on May 21.

“Short-term fear of the unknown is still in the driver’s seat, I would expect more volatility in the coming weeks,” said Kate Warne, investment strategist at Edward Jones.

Indeed, Monday’s trading session saw the main indexes plunge by more than 5%. Nearly 14 billion shares changed hands on Monday, the largest volume since August 10, 2011.

Investors remained concerned about global growth in the face of plummeting commodity prices and slowing growth in China, the second largest economy in the world.

The Dow Jones Industrial Average DJIA, -3.57% ended the day down 588.47 points, or 3.6%, at 15,871.28—its lowest settlement since February 2014. All 30 members of the Dow finished the day in negative territory.

The S&P 500 SPX, -3.94% dropped 77.68 points, or 3.9%, to 1,893.21, the lowest level since October 2014. The index is down 8% year to date. Nearly all 500 members of the index closed with a loss.

Both the Dow and the S&P 500 scored their biggest one-day percentage declines since August 2011.

The Nasdaq Composite COMP, -3.82% ended the day down 179.79 points, or 3.8% at 4,526.25.

“Trading volumes are driven by ETFs today, but we are not seeing a lot of panic, where people dump large amounts of stocks in one go. There are still buyers out there, who are picking up stocks that have seen large corrections. However, volatility is back, so seeing large intraday and day-to-day swings is not surprising,” said Brian Fenske, head of sales trading at ITG.

Sal Arnuk, co-head of equity trading at Themis Trading, described Monday’s open as painful. “There’s definitely blood on the street. You can check the level of the VIX,” Arnuk said.

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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