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 Post subject: September 30th Wednesday Trade Results - Profit $250.00
PostPosted: Wed Sep 30, 2015 6:43 pm 
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Joined: Sat Jan 10, 2009 1:06 pm
Posts: 2855
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)
wrbanalysis@gmail.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 @ $0.00 dollars or +0.00 points, Emini ES ($ES_F) futures @ $250.00 dollars or +5.00 points, Light Crude Oil CL ($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 @ $250.00 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 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=147&t=2182

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=271&t=2883 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] The stock market ended the midweek session on a higher note, but could not avoid its second consecutive monthly decline. The S&P 500 gained 1.9% on Wednesday, but surrendered 2.7% in September. The tech-heavy Nasdaq Composite (+2.3%) outperformed today, but lost 3.3% for the month.

The Wednesday session also marked the end of the third quarter, during which the S&P 500 fell 6.9% versus a 7.4% decline in the Nasdaq. The end of Q3 meant that quarter-end positioning and portfolio rebalancing likely played a part in today's advance.

Equity indices began the trading day with solid gains after index futures rallied alongside markets in Europe. The S&P 500 built on its opening spike, notching a session high just before 10:30 ET; however, that move was followed by a pullback into the middle of today's trading range, which occurred alongside rally in the yen that briefly dropped the dollar/yen pair below the 120.00 level.

The short-lived swoon in the dollar/yen pair was followed by a rebound into the 120.00 area while stocks climbed to new highs.

All ten sectors finished the day with gains, paced by a 2.7% spike in the consumer discretionary space. The cyclical sector held the lead throughout the session while four of the remaining nine groups added 2.0% or more. Notably, the health care sector (+2.1%) spent the day among the leaders with biotechnology underpinning the strength. The iShares Nasdaq Biotechnology ETF (IBB 303.33, +13.85) surged 4.8%, narrowing its September loss to 11.3%. For its part, the health care sector lost 5.8% in September.

Today's relative strength in biotechnology helped the Nasdaq spend the day ahead of the broader market. To be fair, the index received another helping hand from large cap tech names with the likes of Google (GOOGL 637.20, +14.59), Microsoft (MSFT 44.20, +0.76), and Facebook (FB 89.73, +3.06) gaining between 1.8% and 3.5%. Chipmakers also showed considerable strength with the PHLX Semiconductor Index surging 3.8% after EZchip (EZCH 25.16, +3.17) agreed to be acquired by Mellanox (MLNX 37.79, -2.00) for $25.50/share.

In other sector news, Western Digital (WDC 79.40, +10.53) surged 15.3% after Unisplendour made a $3.78 billion investment in WDC by acquiring newly issued shares at $92.50/share.

On the earnings front, Barracuda Networks (CUDA 15.58, -7.97) plunged 33.8% after cautious guidance overshadowed a one-cent beat.

Treasuries slumped overnight, but they began rallying around 7:00 ET with the move continuing into the afternoon. As a result, the 10-yr note reclaimed its overnight loss with the benchmark yield ending flat at 2.05%.

Today's participation was well above average as more than a billion shares changed hands at the NYSE floor.

Economic data reported today included ADP Employment, Chicago PMI, and MBA Mortgage Index:

The ADP National Employment Report revealed that employment in the nonfarm private business sector rose by 200K in September, which was in line with the Briefing.com consensus
The August reading was revised down to 186,000 from 190,000
The weekly MBA Mortgage Index fell 6.7% to follow last week's 13.9% spike
The Chicago PMI dropped to 48.7 in September from 54.4 in August while the Briefing.com Consensus expected a decline to 52.9
The reading highlights this year's volatility in the survey as monthly contractions (five times) have occurred more regularly than expansions (four times) so far in 2015
The Production Index dropped to 43.6 from 59.0 in August, representing the lowest reading since July 2009 and the biggest one-month decline since February

Tomorrow, weekly Initial Claims (Briefing.com consensus 270K) will be released at 8:30 ET while August Construction Spending (consensus 0.5%) and September ISM Index (consensus 50.6) will both be reported at 10:00 ET.

Nasdaq Composite -2.5% YTD
S&P 500 -6.8% YTD
Dow Jones Industrial Average -8.6% YTD
Russell 2000 -8.6% YTD

3:40 pm: [BRIEFING.COM]

The dollar index contioned to trade in positive territory today, which helped weigh on commodities.
Copper futures rallied this morning following the recent decision by operators of the Collahuasi mine (Anglo American and Glencore) to significantly cut output.
Copper remained near today's high and closed +4% at $2.34/lb.
Dec gold, however, slipped 1% today to end at $1115.30/oz, while Dec silver fell 0.4% to $14.53/oz.
Moving onto energy, natural gas futures slid lower today and finished the session -2.3% at $2.53/MMBtu. Nov crude oil lost 0.2% to $45.15/barrel.

2:55 pm:

[BRIEFING.COM] The S&P 500 trades higher by 1.3% with one hour remaining in the trading day.

The benchmark index registered the bulk of today's gain at the open while intraday action has been locked between 1,900 and 1,916 with the S&P 500 trading about six points below its session high at this juncture.

Given its current level, the S&P 500 is on course to end the month with a 3.1% decline while nine sectors are also tracking monthly losses. Energy and materials are both looking at September losses close to 8.0% apiece while the utilities sector is on track to register a 1.9% gain for the month.

2:25 pm:

[BRIEFING.COM] Quiet afternoon action continues with the S&P 500 trading higher by 1.3%. The benchmark index has been able to climb off its intraday low in the 1,900 area as part of a move that also saw the dollar/yen pair climb off its low.

At this juncture, the dollar/yen pair (119.87) has returned just below the 120.00 level, which is a mark that was violated during morning action.

Seven of ten sectors continue showing gains of 1.0% or more with the consumer discretionary space (+2.2%) remaining in the lead.

1:55 pm:

[BRIEFING.COM] The S&P 500 has returned into the neighborhood of its session high.

After two relatively strong months, manufacturing activities in the Chicago region pulled back considerably in September.

The Chicago PMI declined to 48.7 in September from 54.4 in August. The Briefing.com Consensus expected the index to decline to 52.9.

It's been an up-and-down year thus far for the manufacturing sector in the Chicago region. Monthly contractions (five times) have occurred more regularly than expansions (four times).

The September number was notable for the fact that the Production Index dropped to 43.6 from 59.0 in August. That was the lowest reading in production levels since July 2009 and the biggest one-month decline since February.

1:25 pm:

[BRIEFING.COM] The major averages remain near their recent levels with the Nasdaq (+1.5%) and S&P 500 (+1.2%) trading ahead of the Dow Jones Industrial Average (+0.9%).

The price-weighted Dow has underperformed since the opening bell as four index components trade in the red. Most notably, 3M (MMM 140.88, -0.67) has surrendered 0.5% while the largest index component-Goldman Sachs (GS 172.86, +1.00)-trades up 0.6%.

Elsewhere, Treasuries remain near their unchanged levels after reclaiming their overnight losses. The 10-yr yield sits at 2.06% after testing the 2.10% level earlier.

12:55 pm:
Related Quotes

[BRIEFING.COM] The major averages hold solid midday gains, but they have backed away from their highs reached during the first 90 minutes of the session. The S&P 500 remains higher by 0.8% after being up 1.7% earlier while the Nasdaq Composite (+1.0%) outperforms.

With today's session marking the end of September, investors had expected that month-end and quarter-end positioning would play a part in the trading activity. Markets across Europe rallied broadly to follow yesterday's struggles while U.S. futures went along for the ride.

As a result, the key indices opened the day with 1.0%+ gains, building on their strength through the opening hour. However, the market began backing away from its high in a move that coincided with a rally in the yen that has pressured the dollar/yen pair below the 120.00 level. Traditionally, strength in the Japanese currency has signaled risk-off posturing in the foreign exchange market and today's move has not gone unnoticed by the equity market.

All ten sectors continue trading in the green, but they are well off their highs. Three of ten groups remain higher by 1.0% or more with consumer discretionary (+1.3%), materials (+1.1%), and technology (+1.1%) in the lead. Notably, the tech sector has been boosted by chipmakers after EZchip (EZCH 25.16, +3.17) agreed to be acquired by Mellanox (MLNX 36.58, -3.21) for $25.50/share. The broader PHLX Semiconductor Index trades higher by 2.4%.

Elsewhere in the tech sector, Western Digital (WDC 78.60, +9.73) has surged 14.1% after Unisplendour made a $3.78 billion investment in WDC by acquiring newly issued shares at $92.50/share.

The overall strength of the tech sector has kept the Nasdaq in the lead, but the tech-heavy index has also benefitted from a rebound in biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 296.93, +7.45) trades higher by 2.6%, but remains on track to end the month lower by 13.2%. On a related note, the health care sector (+1.1%) trades ahead of the broader market, narrowing its September loss to 6.8%.

The retreat from early highs has coincided with Treasuries climbing off their lows. The 10-yr note has recently made a new session high, returning to unchanged with the benchmark yield at 2.05%.

Economic data reported today included ADP Employment, Chicago PMI, and MBA Mortgage Index:

The ADP National Employment Report revealed that employment in the nonfarm private business sector rose by 200K in September, which was in line with the Briefing.com consensus
The August reading was revised down to 186,000 from 190,000
The weekly MBA Mortgage Index fell 6.7% to follow last week's 13.9% spike
The Chicago PMI dropped to 48.7 in September from 54.4 in August while the Briefing.com Consensus expected a decline to 52.9
The reading highlights this year's volatility in the survey as monthly contractions (five times) have occurred more regularly than expansions (four times) so far in 2015
The Production Index dropped to 43.6 from 59.0 in August, representing the lowest reading since July 2009 and the biggest one-month decline since February

12:25 pm:

[BRIEFING.COM] The major averages have continued their slow pullback off session highs notched during early morning action.

As mentioned earlier, the dollar/yen pair began sliding from its high during the late morning and that cautious turn has been followed by a pullback in the stock market. The S&P 500 hit its high shortly after 10:30 ET and has been slowly inching away from that level since then.

The consumer discretionary sector (+1.5%) holds the lead, but the group has retreated from its best level of the day alongside other sectors. Elsewhere, the financial sector has narrowed its gain to 0.4%.

12:00 pm:

[BRIEFING.COM] Equity indices have ticked down from their highs, but they continue holding the bulk of their gains. The S&P 500 (+1.2%) has given up about 10 points, but the benchmark index remains higher by more than 20 points at this juncture.

Sector standing has not changed much with all ten groups following the trading dynamic in the S&P 500. Heavily-weighted health care (+1.4%), consumer discretionary (+1.7%), and technology (+1.6%) continue holding strong while the financial sector (+0.7%) has underperformed since the opening bell. With today's session marking the end of September, the financial sector is on course to end the month lower by 3.8% versus a 3.4% drop in the S&P 500.

On a separate note, today's opening spike in equities was met with a drop in the CBOE Volatility Index (VIX 25.42, -1.41), but the near-term volatility gauge has climbed off its early low near 24.50%, suggesting some have used the advance to increase their hedges.

11:25 am:

[BRIEFING.COM] Equity indices continue cruising near their highs, but that has masked some recent movement in the foreign exchange market.

Specifically, the Dollar Index (96.35, +0.49) remains near its best level of the day even though the Japanese yen has spiked to a fresh session high in recent action, dropping the dollar/yen pair into the 119.75 area. The currency pair deserves attention considering previous dips below 120.00 have coincided with risk-off sentiment spreading through the equity market. To be fair, the recent price action could be related to month-end positioning considering the move took place not long before the London fix.

Elsewhere, Treasuries have continued their climb off session lows, but they remain in the red with the 10-yr yield higher by a basis point at 2.06%.

10:55 am:

[BRIEFING.COM] The major averages have added to their early gains with the Nasdaq Composite now up 2.0% while the S&P 500 has extended its advance to 1.6%.

Four of ten sectors sport gains of 2.0% or more with energy (+2.3%) taking the lead amid volatile action in crude oil. The energy component is currently higher by 0.6% at $45.52/bbl after briefly dipping into the red after the latest storage report showed an inventory build of almost four million barrels.

Elsewhere, the health care sector (+1.9%) continues trading among the leaders while the biotech group remains near its early high with the iShares Nasdaq Biotechnology ETF (IBB 301.67, +12.19) up 4.2%.

10:35 am: [BRIEFING.COM]

The dollar index trended flat overnight, before seeing a strong rally early ahead of the morning's US employment and PMI data
Upon release of in-line employment and weaker-than-expected PMI data sets (and ahead of today's speeches by Fed officials) the dollar held its prior strong gains
The index is now +0.4% to 96.48 which is has put selling pressure on both gold and WTI so far this session.
Precious metals are trading lower, with both being pressed lower by a strengthening dollar; gold is now -1.3% to $1112.60/oz, while silver is -0.7% to $14.48/oz
Oil traded negative overnight, following yesterday's API inventory data release, and ahead of the morning's EIA storage report
Yesterday's API inventory data heavily pressured WTI, as the report showed a larger-than-expected build (4.6 mln barrel est. vs. a 100K build est.)
Upon release of the EIA storage data, which showed a ~4 mln barrel build, oil immediately fell and is now -0.1% to $45.20/barrel
Natural gas is moderately negative this morning at -1.6% to $2.55/MMBtu
Copper has rallied strong all morning, following the recent decision by operators of the Collahuasi mine (Anglo American and Glencore) to significantly cut output
December copper is now +3.9% to $2.34/oz

10:00 am:

[BRIEFING.COM] The stock market remains near its early high with the Nasdaq Composite (+1.5%) maintaining the lead thanks to a rebound in biotechnology.

In addition, large cap technology names have also done their part, underpinning the Nasdaq, with the likes of Apple (AAPL 110.15, +1.10), Google (GOOGL 631.28, +8.67), and Intel (INTC 29.94, +0.70) showing gains between 1.0% and 2.4%. Similar to Intel, other chipmaker names trade ahead of the broader market with the PHLX Semiconductor Index higher by 2.3%.

Elsewhere, Treasuries have climbed off their overnight lows, but they remain in negative territory with the 10-yr yield higher by two basis points at 2.07%.

9:45 am:

[BRIEFING.COM] As expected, the major averages have charged out of the gate with the Nasdaq Composite (+1.8%) pacing the opening move while the S&P 500 (+1.5%) follows a bit behind.

All ten sectors display early gains with health care (+2.0%) showing relative strength for the second day in a row. However, today's opening strength in health care has been fueled by biotechnology. To that point, the iShares Nasdaq Biotechnology ETF (IBB 302.06, +12.58) trades higher by 4.2%, narrowing its September decline to 11.9%.

Elsewhere among influential sectors, consumer discretionary (+1.8%) and technology (+1.8%) outperform while financials (+1.1%) lag.

On the economic front, the just released Chicago Purchasing Managers Index for September fell to 48.7 from 54.4 in August. The September reading was shy of the Briefing.com consensus estimate, which was pegged at 52.9.

9:10 am: [BRIEFING.COM] S&P futures vs fair value: +21.50. Nasdaq futures vs fair value: +57.50.

The stock market is on track to register solid gains at the start as S&P 500 futures trade 22 points above fair value after climbing steadily throughout the night. The overnight rally has taken place alongside equity strength in Europe where regional markets sport broad gains to close out a weak quarter.

Domestically, the S&P 500 will get an opening boost, but the index is all but sure to end the month in negative territory. To that point, the benchmark index ended yesterday's session down 4.5% for the month, widening its Q3 decline to 8.7%.

On the corporate front, Costco (COST 142.50, -1.22) is on track to open lower by 0.9% after reporting better than expected earnings on light revenue. Over on the discretionary side, Gap (GPS 28.10, -2.12) is down 7.0% in pre-market after Stefan Larsson stepped down from his position as president of Old Navy to become the Chief Executive Officer of Ralph Lauren (RL 111.39, +7.31).

In economic data, the September ADP Employment report (200,000) was reported in-line with the Briefing.com consensus while the September Chicago PMI will be released at 9:45 ET (Briefing.com consensus 52.9).

Treasuries hover in the red with the 10-yr yield up three basis points at 2.08%.

8:52 am: [BRIEFING.COM] S&P futures vs fair value: +21.00. Nasdaq futures vs fair value: +58.00.

The S&P 500 futures trade 21 points above fair value.

Markets in the Asia-Pacific region closed out an ugly third quarter on a winning note and following some otherwise disappointing economic data from one of the world's largest economies, Japan, which reported weaker than expected industrial production and retail sales figures. The disappointing reports fueled speculation that the Bank of Japan might soon introduce new monetary stimulus.

In economic data:
Japan's August Industrial Production -0.5% month-over-month (expected +1.0%; prior -0.8%), August Retail Sales +0.8% year-over-year (expected +1.1%; prior +1.8%), August Construction Orders -15.6% year-over-year (prior -4.0%), and August Housing Starts +8.8% year-over-year (expected +7.8%; prior +7.4%)
China's September Westpac MNI China Consumer Sentiment 118.2 (prior 116.5)
South Korea's October Manufacturing BSI Index 70.0 (prior 73.0)
Australia's August Building Approvals -6.9% month-over-month (expected -2.0%; prior +7.9%), August Housing Credit +0.6% (prior +0.6%), and August Private Sector Credit +0.6% month-over-month (expected +0.5%; prior +0.6%)
New Zealand's September ANZ Business Confidence -18.9% (prior -29.1%), September NBNZ Own Activity +16.7% (prior +12.2%), and August Building Consents -4.9% month-over-month (prior +20.4%)

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Japan's Nikkei increased 2.7% on the heels of Tuesday's 4.1% decline. The updraft followed some weaker-than-expected industrial production data which stoked speculation the Bank of Japan will soon provide more monetary stimulus. Gains were led by the materials (+3.1%), health care (+3.0%), and technology (+2.8%) sectors. Kyowa Hakko Kirin (+7.8%), Taiyo Yuden (+6.3%), and Mazda Motor (+5.9%) topped the list of individual winners while Japan Tobacco (-6.7%) brought up the rear. Out of the 225 index members, 214 ended higher, 10 finished lower, and 1 was unchanged. For the quarter, the Nikkei declined 14.1%.
Hong Kong's Hang Seng closed up 1.4%, riding the strength of broad-based buying interest. CNOOC (+6.6%), Li & Fung (+6.5%), and Kunlun Energy (+5.7%) were the best-performing issues while Sands China (-3.9%), Galaxy Entertainment Group (-0.8%), and China Mobile (-0.3%) led a small group of losers. Out of the 50 index members, 44 ended higher, 5 finished lower, and 1 was unchanged. For the quarter, the Hang Seng declined 20.6%.
China's Shanghai Composite increased 0.5%, but faded into the close on some selling pressure as investors took some money off the table ahead of the week-long National Holiday beginning on Thursday. The Shanghai Composite will reopen for trading on Thursday, October 8. For the quarter, the Shanghai Composite plunged 34.1%.

Major European indices trade higher across the board with France's CAC (+2.8%) in the lead. Despite today's advance, key regional indices are on track to end the month with losses.

Economic data was plentiful:
Eurozone September CPI -0.1% year-over-year (expected 0.0%; prior 0.1%) and Core CPI +0.9% year-over-year (consensus 0.9%; last 0.9%). Separately, August Unemployment Rate held at 11.0% (expected 10.9%)
Germany's September Unemployment Change 2,000 (expected -5,000; prior -6,000) while the September Unemployment Rate held at 6.4%, as expected. Also of note, August Retail Sales -0.4% month-over-month (expected 0.2%; prior 1.6%); 2.5% year-over-year (consensus 3.1%; last 3.8%)
UK's Q2 GDP +0.7% quarter-over-quarter, as expected; +2.4% year-over-year (consensus 2.6%; previous 2.6%). Separately, Q2 Business Investment 1.6% quarter-over-quarter (expected 2.9%; last 2.9%); 3.1% year-over-year (prior 5.0%)
France's August PPI -0.9% month-over-month (prior -0.1%) while July Consumer Spending +0.3% month-over-month (expected 0.1%; prior 0.4%)
Italy's CPI -0.3% month-over-month, as expected; +0.3% year-over-year, as expected. Separately, August PPI -0.7% month-over-month (prior -0.5%); -2.9% year-over-year (prior -2.3%)
Spain's Business Confidence ticked down to 0.0 from 0.3

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UK's FTSE has climbed 2.3% with all 101 listings taking part in the advance. Consumer names lead with Sainsbury up 14.4% after boosting its profit outlook. Peers Tesco and WM Morrison Supermarkets are both up near 7.0%.
Germany's DAX trades up 2.6% with all 30 components in the green. Utility stocks lead with E.On and RWE both up near 4.2% while BMW, Daimler, and Volkswagen show gains between 1.7% and 3.7%.
In France, the CAC outperforms with a gain of 2.8%. ArcelorMittal is the lone decliner, trading lower by 1.1% while automakers outperform. Peugeot and Renault hold respective gains of 5.7% and 1.9%.

8:25 am: [BRIEFING.COM] S&P futures vs fair value: +24.40. Nasdaq futures vs fair value: +65.30.

The S&P 500 futures trade 24 points above fair value.

The ADP National Employment Report revealed that employment in the nonfarm private business sector rose by 200K in September, which was in line with the Briefing.com consensus. The August reading was revised down to 186,000 from 190,000.

7:56 am: [BRIEFING.COM] S&P futures vs fair value: +22.50. Nasdaq futures vs fair value: +60.50.

U.S. equity futures trade near their pre-market highs amid upbeat action overseas. The S&P 500 futures hover 23 points above fair value while European markets also trade with solid gains.

Meanwhile, Treasuries have retreated, pushing the 10-yr yield higher by almost four basis points to 2.09%.

On the economic front, the weekly MBA Mortgage Index fell 6.7% to follow last week's 13.9% spike.

The September ADP Employment Change (Briefing.com consensus 200K) will be reported at 8:15 ET while the Chicago PMI for September (consensus 52.9) will be released at 9:45 ET.

In U.S. corporate news of note:

Costco (COST 146.00, +2.28): +1.6% after beating earnings estimates on light revenue.
Gap (GPS 28.01, -2.21): -7.3% in reaction to several downgrades after announcing that Stefan Larsson will step down from his position as president of Old Navy.
Barracuda Networks (CUDA 17.70, -5.85): -24.8% after cautious guidance overshadowed a one-cent beat.
EZchip (EZCH 21.99, 0.00) has agreed to be acquired by Mellanox (MLNX 39.79, 0.00) for $25.50/share in cash.
Pericom Semiconductor (PSEM 18.00, +1.10): +6.5% after receiving an acquisition offer from Montage Technology Group that values PSEM at $18.50/share
Western Digital (WDC 75.50, +6.63): +9.6% after announcing Unisplendour has made a $3.78 billion investment in WDC by acquiring newly issued shares at $92.50/share.

Reviewing overnight developments:

Asian markets ended higher. China's Shanghai Composite +0.5%, Hong Kong's Hang Seng +1.4%, and Japan's Nikkei +2.7%
In economic data:
Japan's August Industrial Production -0.5% month-over-month (expected +1.0%; prior -0.8%), August Retail Sales +0.8% year-over-year (expected +1.1%; prior +1.8%), August Construction Orders -15.6% year-over-year (prior -4.0%), and August Housing Starts +8.8% year-over-year (expected +7.8%; prior +7.4%)
China's September Westpac MNI China Consumer Sentiment 118.2 (prior 116.5)
South Korea's October Manufacturing BSI Index 70.0 (prior 73.0)
Australia's August Building Approvals -6.9% month-over-month (expected -2.0%; prior +7.9%), August Housing Credit +0.6% (prior +0.6%), and August Private Sector Credit +0.6% month-over-month (expected +0.5%; prior +0.6%)
New Zealand's September ANZ Business Confidence -18.9% (prior -29.1%), September NBNZ Own Activity +16.7% (prior +12.2%), and August Building Consents -4.9% month-over-month (prior +20.4%)
In news:
In Japan, Prime Minister Shinzo Abe's cabinet has cut its production assessment after the industrial production report showed the third consecutive decline

Major European indices trade higher across the board. UK's FTSE +2.3%, Germany's DAX +2.5%, and France's CAC +2.8%. Elsewhere, Italy's MIB +2.5% and Spain's IBEX +2.0%
Economic data was plentiful:
Eurozone September CPI -0.1% year-over-year (expected 0.0%; prior 0.1%) and Core CPI +0.9% year-over-year (consensus 0.9%; last 0.9%). Separately, August Unemployment Rate held at 11.0% (expected 10.9%)
Germany's September Unemployment Change 2,000 (expected -5,000; prior -6,000) while the September Unemployment Rate held at 6.4%, as expected. Also of note, August Retail Sales -0.4% month-over-month (expected 0.2%; prior 1.6%); 2.5% year-over-year (consensus 3.1%; last 3.8%)
UK's Q2 GDP +0.7% quarter-over-quarter, as expected; +2.4% year-over-year (consensus 2.6%; previous 2.6%). Separately, Q2 Business Investment 1.6% quarter-over-quarter (expected 2.9%; last 2.9%); 3.1% year-over-year (prior 5.0%)
France's August PPI -0.9% month-over-month (prior -0.1%) while July Consumer Spending +0.3% month-over-month (expected 0.1%; prior 0.4%)
Italy's CPI -0.3% month-over-month, as expected; +0.3% year-over-year, as expected. Separately, August PPI -0.7% month-over-month (prior -0.5%); -2.9% year-over-year (prior -2.3%)
Spain's Business Confidence ticked down to 0.0 from 0.3
Among news of note:
France's CAC leads the region with shares of Peugeot trading higher by 6.1% while Renault has climbed 2.4%

5:56 am: [BRIEFING.COM] S&P futures vs fair value: +22.80. Nasdaq futures vs fair value: +55.10.

5:56 am: [BRIEFING.COM] Nikkei...17388.15...+457.30...+2.70%. Hang Seng...20846.30...+289.70...+1.40%.

5:56 am: [BRIEFING.COM] FTSE...6029.90...+120.70...+2.00%. DAX...9682.94...+232.50...+2.50%.

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

http://www.thestrategylab.com
Phone: +1 708 572-4885
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