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 Post subject: September 11th Friday Trade Results - Profit $3437.50
PostPosted: Fri Sep 11, 2015 5:30 pm 
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Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Business Hours: 8am - 5pm est (Mon - Fri)
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 @ $3437.50 dollars or +122.50 points, Light Crude Oil CL ($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 @ $3437.50 dollars

Russell 2000 Emini TF Futures: 1 tick or 0.10 = $10.00 dollars and there's more contract information @ The ICE
S&P 500 Emini ES Futures: 1 tick or 0.25 = $12.50 dollars and there's more contract information @ CMEGroup
Light Crude Oil CL (WTI) Futures: 1 tick or 0.01 = $10.00 dollars and there's more contract information @ CMEGroup
Gold GC Futures: 1 tick or 0.10 = $10.00 dollars and there's more contract information @ CMEGroup
EuroFX 6E Futures: 1 tick or 0.0001 = $12.50 dollars and there's more contract information @ CMEGroup

Trade Log: All of my trades were posted real-time in the timestamp ##TheStrategyLab 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=2169

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


4:05 pm: [BRIEFING.COM] The stock market finished the abbreviated trading week on a higher note. The S&P 500 added 0.5%, extending its weekly gain to 2.1% while the Nasdaq Composite (+0.5%) outperformed slightly, adding 3.0% for the week.

Broadly speaking, the Friday session was very quiet and did not feature any major macroeconomic or company-specific developments. Instead, stocks began the day under modest pressure as noteworthy weakness in the energy sector (-0.8%) fueled the opening retreat. The energy sector settled not far above its low while the remaining groups fared much better and helped the market erase its early loss.

Staying in the energy sector, the cyclical group represented the lone decliner of the week, losing 0.7% since last Friday. Crude oil contributed to underperformance in the sector as the energy component settled lower by 2.8% at $44.63/bbl after briefly dipping below $44.20/bbl in the morning. For the week, WTI crude surrendered 3.1% with today's decline following cautious comments from Goldman Sachs. Specifically, the investment bank cut its 2015 price forecast to $48.10/bbl from $52.00/bbl and lowered the 2016 outlook to $45.00/bbl from $57.00/bbl.

Elsewhere, the other commodity-related sector-materials (-0.2%)-also settled in the red while other groups posted gains. Notably, consumer discretionary (+0.7%), technology (+0.6%), and health care (+0.7%) gathered steam as the market climbed off its session low.

Thanks to today's gain, the technology sector gained 3.1% for the week, which was good enough for the sector to end ahead of its peers. The influential sector followed Apple's (AAPL 114.02, +1.45) lead as the stock jumped 1.3% on Friday and 4.4% for the week.

The relative strength in technology helped the Nasdaq stay ahead of the broader market through the week, but the tech-heavy index also received a measure of support from health care, and specifically, biotechnology. To that point, the health care sector (+0.7%) finished among today's leaders, extending its weekly gain to 2.8%. As for biotechnology, the high-beta group enjoyed a strong week, evidenced by the iShares Nasdaq Biotechnology ETF (IBB 354.74, +4.02), which climbed 1.2% on Friday to end the week higher by 5.2%.

The afternoon recovery in stocks had little impact on Treasuries as the 10-yr note remained near its high with the benchmark yield ending the day lower by four basis points at 2.18%.

Today's participation was below recent averages as roughly 810 million shares changed hands at the NYSE floor.

Economic data included PPI, Michigan Sentiment, and Treasury Budget:

Producer prices were flat in August after increasing 0.2% in July while the Briefing.com consensus expected a decline of 0.1%
Energy prices declined 3.3% in August, which was the largest downturn since a 10.1% drop in January, after falling 0.6% in July
Food prices increased 0.3% in August after declining 0.1% in July with the aftermath of the bird flu epidemic continuing to wreak havoc on the egg supply, driving egg prices up 32.2%
Excluding food and energy, core PPI increased 0.3% for a third consecutive month in August while the consensus expected an increase of 0.1%
The University of Michigan Consumer Sentiment Index dropped to 85.7 in the preliminary September reading from 91.9 in August while the Briefing.com consensus expected a drop to 91.5
The Current Conditions Index fell to 100.3 in September from 105.1 in August while the Expectations Index declined to 76.4 from 83.4
The overall decline in the Consumer Sentiment Index can be traced to the pullback in stock prices that began at the end of August while other measures that typically impact confidence levels --gasoline prices and employment conditions-continued to improve over the past few weeks
The Treasury Budget statement for August showed a deficit of $64.40 billion while the Briefing.com consensus expected a deficit of $62.00 billion
The Treasury data are not seasonally adjusted so the August deficit cannot be compared to the $149.20 billion deficit recorded in July Investors will not receive any economic data on Monday.

Nasdaq Composite +1.8% YTD
Russell 2000 -3.7% YTD
S&P 500 -4.8% YTD
Dow Jones Industrial Average -7.8% YTD

Week in Review: Stocks Advance Ahead of FOMC Rate Decision Week

On Monday, bond and equity markets were closed for Labor Day.

On Tuesday, the restless stock market began the holiday-shortened week with a broad-based surge. The Nasdaq Composite led the way, spiking 2.7% while the S&P 500 jumped 2.5% with the bulk of the advance taking place at the opening bell. The buying surge at the start reflected a build-up of strength in the futures market that took root on Monday as U.S. futures labored their way higher alongside European equities. Once the Tuesday session began in Asia, China's Shanghai Composite rallied 2.9% with speculation of continued state support for equities overshadowing mediocre trade data (trade balance $60.24 billion; expected $48.20 billion) that showed a 5.5% year-over- year decline in exports (expected -6.0%) and a 13.8% drop in imports (expected -8.2%; prior -8.1%). The late-afternoon gains in China stirred up overall risk tolerance, leading to more gains in the U.S. futures market while European equities enjoyed an opening surge. Better than expected economic data highlighted the European session as eurozone Q2 GDP was unexpectedly revised up to 0.4% quarter-over-quarter from 0.3%.

The stock market ended Wednesday on a defensive note despite enjoying an upbeat start to the session. The S&P 500 began the day with a 15-point gain, which morphed into a 27-point loss by the close. The benchmark index surrendered 1.4% while the Nasdaq Composite (-1.2%) settled a bit ahead. Equity indices hit their highs shortly after the opening bell with the early move fueled by strengthening risk appetite overseas. To that point, Asian markets posted solid gains with China's Shanghai Composite jumping 2.3% amid continued speculation about government involvement in the market while Japan's Nikkei soared 7.7%, registering its largest one-day gain since October 2008, after Prime Minister Shinzo Abe pledged to lower the corporate tax rate by at least 3.3%. The positive vibes carried into the European session, but the demand for equities began receding once the U.S. market opened. The S&P 500 spent the first 90 minutes of the day in a slow retreat from its high and hovered near its flat line into the early afternoon. The index then dipped into negative territory alongside Apple (AAPL 110.15, -2.16) as the largest stock by market cap slid to a session low in reaction to the company's underwhelming product refresh event. Shares of Apple settled lower by 1.9% while the broader technology sector (-1.3%) had a better showing than its leading component, ending just ahead of the market.

Equity indices ended the Thursday session on a higher note after enduring a shaky start to the trading day. The S&P 500 added 0.5% while the Nasdaq Composite (+0.8%) outperformed. The key indices opened near their flat lines after the futures market was whipped around during pre-market action. The early-morning volatility followed a defensive session in Asia while European markets also struggled. Once the U.S. session got going, the market traded in sideways fashion through the first hour before climbing higher. However, the S&P 500 found resistance near the 1,965 level in the early afternoon, slipping into the close. Heavily-weighted technology (+1.0%) and health care sectors (+0.9%) displayed strength from the start, and that dynamic kept the S&P 500 from sliding too far below its flat line during the opening hour. The top-weighted tech sector rallied behind Apple (AAPL 112.57, +2.42), which spiked 2.2%, while other large cap components posted slimmer gains.

3:35 pm: [BRIEFING.COM]

Oil prices took a hit again today after Goldman Sachs cut its oil price forecast
This isn't the only catalyst hitting oil, but a key one today. Overall, oversupply issues still remain, which provide broad market pressure
Today, front-month WTI Oct crude oil ended the day -2.4% at $44.376/barrel
In other energy, Oct natural gas rose one cent to end at $2.69/MMBtu
Grains were volatile today following the monthly USDA WASDE report, which sent corn and wheat futures higher
Dec corn rose 3.5% to $3.87/bu, while Dec wheat closed at +1.5% at $4.85/bu. Nov beans rose one cent to end at $8.74/bu
In metals, Dec copper closed flat at $2.45/lb, while in precious metals both gold and silver ended mixed
Dec gold rose 0.6% to $1103/oz, while Dec silver fell 1% to $14.50/oz

2:55 pm:

[BRIEFING.COM] The S&P 500 (+0.1%) hovers just above its flat line with one hour remaining in the session.

Overall, today's afternoon action has been very quiet after the benchmark index erased its opening loss during the late morning. Six of ten sectors enter the final hour with gains while the energy space (-1.3%) remains well behind the broader market. Conversely, the consumer discretionary sector (+0.5%) is in the lead, but utilities (+0.5%) and health care (+0.4%) follow right behind.

Barring a sharp move during the last hour, the S&P 500 is on track to end the week higher by 1.7% while the Nasdaq (+0.2%) is tracking a 2.7% gain for the week.

2:30 pm:

[BRIEFING.COM] The major averages remain near their flat lines.

Stock market concerns put a damper on sentiment.

The University of Michigan Consumer Sentiment Index dropped to 85.7 in the preliminary September reading from 91.9 in August. The Briefing.com Consensus expected the index to fall to 91.5.

That was the lowest reading of the Consumer Sentiment Index since it reached 84.6 in September 2014. At that time, however, sentiment was trending upwards.

The overall decline in the Consumer Sentiment Index can be traced to the sharp retraction in stock prices that began at the end of August. Other measures that typically impact confidence levels -- gasoline prices and employment conditions -- continued to improve over the past few weeks.

Fortunately, consumption growth is not reliant upon changes in sentiment. As long as the labor market continues to strengthen and income growth trends higher, consumption growth should follow.

2:00 pm:

[BRIEFING.COM] The S&P 500 hovers just below its flat line as the quiet afternoon continues.

The Treasury Budget statement for August was just released and it showed a deficit of $64.40 billion while the Briefing.com consensus expected a deficit of $62.00 billion. The Treasury data are not seasonally adjusted so the August deficit cannot be compared to the $149.20 billion deficit recorded in July.

1:30 pm:

[BRIEFING.COM] The major U.S. indices have taken a leg down since our last update, and are now mixed.
Related Quotes

A look inside the Dow Jones Industrial Average shows that McDonald's (MCD 96.880, +1.55), UnitedHealth Group (UNH 117.78, +1.01), and Walt Disney (DIS 103.14, +0.54) are outperforming.

Conversely, Cisco (CSCO 25.89, -0.37) is the worst-performing Dow component following lackluster earnings from peer Finisar (FNSR 12.24, -2.67) as well as a patent suite occurring today against Arista Networks (ANET 61.41, -8.47).

As we approach the end of the day, the DJIA is up 1.4% this week, but still down 1.2% this month.

12:55 pm:

[BRIEFING.COM] The major averages hover near their session highs at midday with the Dow Jones Industrial Average (+0.5%) trading ahead of the S&P 500 (+0.2%).

Equities began the trading day in negative territory, responding to overnight weakness in the futures market. Despite the lower start, most sectors have kept pace with the S&P 500 while the energy space (-1.5%) has lagged notably since the opening bell.

The relative weakness in the energy sector has been brought on by selling in crude oil after Goldman Sachs lowered its price forecast for the commodity. Currently, WTI crude remains lower by 1.8% at $45.08/bbl after spiking off its low near $44.20/bbl.

The key indices spent the first two hours of the day near their lows, but spiked back into positive territory with most sectors taking part in the move higher. Notably, the health care sector (+0.5%) has seized the lead after showing relative strength yesterday. Biotechnology has backed today's move, evidenced by a 0.8% gain in iShares Nasdaq Biotechnology ETF (IBB 353.38, +2.66). The biotech ETF is on track to end the week higher by 4.8% while the health care sector is tracking a 2.5% gain for the week.

Elsewhere among influential sectors, technology (+0.3%) and financials (+0.1%) trade near their broader market, but their performance deserves attention into the afternoon considering they represent more than 35.0% of the entire market.

Treasuries have ticked down from their highs alongside the bid in equities, but they continue holding the bulk of their gains with the 10-yr yield down four basis points at 2.18%.

Economic data reported this morning included PPI and Michigan Sentiment:

Producer prices were flat in August after increasing 0.2% in July while the Briefing.com consensus expected a decline of 0.1%
Energy prices declined 3.3% in August, which was the largest downturn since a 10.1% drop in January, after falling 0.6% in July
Food prices increased 0.3% in August after declining 0.1% in July with the aftermath of the bird flu epidemic continuing to wreak havoc on the egg supply, driving egg prices up 32.2%
Excluding food and energy, core PPI increased 0.3% for a third consecutive month in August while the consensus expected an increase of 0.1%
The University of Michigan Consumer Sentiment Index dropped to 85.7 in the preliminary September reading from 91.9 in August while the Briefing.com consensus expected a drop to 91.5
The Current Conditions Index fell to 100.3 in September from 105.1 in August while the Expectations Index declined to 76.4 from 83.4
The overall decline in the Consumer Sentiment Index can be traced to the pullback in stock prices that began at the end of August while other measures that typically impact confidence levels --gasoline prices and employment conditions-continued to improve over the past few weeks

The Treasury Budget for August will be reported at 14:00 ET.

12:25 pm:

[BRIEFING.COM] Equity indices trade near their best levels of the day after spiking into the green during recent action. With the S&P 500 now hovering just above its flat line, only three sectors remain in the red and the energy sector (-1.7%) is the only group trading with a loss larger than 0.4%.

On the flip side, the health care sector (+0.5%) has taken the lead with biotechnology contributing to the strength. The iShares Nasdaq Biotechnology ETF (IBB 353.54, +2.81) is higher by 0.8%, extending its weekly gain to 4.9%. Meanwhile, the health care sector has added 2.6% this week, which puts the group in-line with the technology sector (+0.1%).

Interestingly, the spike into the green has been met with a muted response in the Treasury market as the 10-yr note remains near its high with its yield down four basis points at 2.18%.

12:00 pm:

[BRIEFING.COM] Recent action saw the major averages surge to new session highs. The S&P 500 has narrowed its loss to 0.1% while the Dow Jones Industrial Average (+0.1%) has punched into the green.

Thanks to the recent spike, three sectors are now in the green while seven groups remain in negative territory. The utilities sector (+0.2%) remains in the lead while health care (+0.1%) and industrials (+0.2%) also hold gains.

On the downside, the energy sector (-1.0%) remains well behind the broader market while crude oil has seen volatile action in recent going. The energy component remains down 1.9% at $45.02/bbl after surging off its low near $44.20/bbl during the past hour.

11:25 am:

[BRIEFING.COM] Equity indices continue ranging a few points above their session lows. The S&P 500 is lower by 0.5%, but the benchmark index remains on track to end the holiday-shortened week with a 1.1% gain.

Similar to the S&P 500, nine sectors are tracking weekly gains between 0.3% (consumer staples) and 2.0% (technology). The relative strength observed in the tech sector this week has been a supportive factor for the Nasdaq (-0.7%) as the index lags today, but is on track to finish the week higher by 1.7%.

Elsewhere, Treasuries have been inching higher throughout the day with the 10-yr yield now down five basis points at 2.17%.

10:55 am:

[BRIEFING.COM] The major averages have climbed off their worst levels of the day, but they remain in negative territory at this juncture. The S&P 500 trades down 0.5% with nine sectors in the red while the countercyclical utilities space (+0.2%) has held up well thanks to lower Treasury yields. To that point, the 10-yr note sits at a fresh high with its yield down five basis points at 2.18%.

All things considered, most of the remaining sectors have held up relatively well in the face of significant weakness in the energy sector, which trades lower by 1.5%. Another commodity-linked group-materials (-0.8%)-is the second-weakest performer while the remaining sectors show losses between 0.3% and 0.5%.

With stocks spending the early action in negative territory, participants have shown demand for volatility protection, sending the CBOE Volatility Index (25.37, +1.00) higher by a point into the middle of its range from yesterday.

10:35 am: [BRIEFING.COM]

The dollar index traded flat overnight, before rallying to session highs near 95.68 in early trade- ahead of the morning's US PPI and Consumer Sentiment data
The index saw muted reaction to a flat PPI, but promptly sold-off on the release of lower-than-expected Mich. Consumer Sentiment data (85.7 vs 91.5 est)
The dollar is now near flat at 95.56
Precious metals and copper are all trending lower on the dollar's early strength- with copper trimming gains made earlier this week (on easing Chinese concern)
Gold is -1% to $1098.50/oz, silver is -2.6% to $14.27/oz and copper is -0.7% to $2.43/lb
Oil has been getting pummeled all session, following the release of notably lower price forecasts from both Goldman Sachs and Commerzbank
Those price forecasts were in contrast to the morning's IEA monthly oil market report, which forecast lower US output in the near term (down 400K barrels/day in 2016)
The December WTI contract is largely trading on over-supply sentiment so far however, now at -3.5% to $44.31/barrel
Natural gas is rallying from slight overnight negatives, and now near its HoD at +0.7% to $2.70/MMBtu

10:00 am:

[BRIEFING.COM] The S&P 500 has widened its decline to 0.6%.

Just released, the preliminary reading of the University of Michigan Consumer Sentiment survey for September fell to 85.7 from the reading of 91.9 that was reported in August. The Briefing.com consensus expected a downtick to 91.5.

9:40 am:

[BRIEFING.COM] The major averages began the trading day in negative territory, staying true to the pre-market indication. The S&P 500 trades lower by 0.3% with all ten sectors showing early losses.

This week's weakest sector-energy-began the day at the bottom of the leaderboard with a 1.0% loss. The sector has responded to the selling pressure in the oil market after Goldman Sachs issued a cautious outlook on oil prices. Currently, WTI crude trades lower by 2.3% at $44.82/bbl.

Elsewhere, heavily-weighted technology (-0.2%) and health care (-0.5%) trade near the broader market after showing relative strength yesterday.

Treasuries have ticked down from their highs, but they remain in the green with the 10-yr yield down three basis points at 2.19%.

The preliminary reading of the Michigan Sentiment survey for September (consensus 91.5) will be reported at 10:00 ET.

9:14 am: [BRIEFING.COM] S&P futures vs fair value: -9.60. Nasdaq futures vs fair value: -11.50.

The stock market is on track for a modestly lower open with S&P 500 futures trading ten points below fair value after sliding from highs shortly before markets in Europe opened for the day. Speaking of Europe, regional equity indices trade lower across the board with UK's FTSE (-0.6%) outperforming while Spain's IBEX (-1.2%) lags.

Domestically, the pre-market action has been fairly muted with futures trading inside relatively narrow ranges when compared to the swings that have been observed in recent weeks. The benchmark index ended yesterday's session with a week-to-date gain of 1.6%, but some work will be needed in order for the index to maintain its standing.

On the economic front, August producer prices were unchanged while the Briefing.com consensus expected a decrease of 0.1%. Core producer prices increased 0.3% while the consensus expected a reading of 0.1%.

Treasuries hover near their best levels of the day with the 10-yr yield down four basis points at 2.18%.

More data will be released today with the preliminary reading of the Michigan Sentiment survey for September (consensus 91.5) set to cross at 10:00 ET while the Treasury Budget for August will be reported at 14:00 ET.

8:52 am: [BRIEFING.COM] S&P futures vs fair value: -8.40. Nasdaq futures vs fair value: -7.10.

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

Most markets in the Asia-Pacific region closed Friday on a generally weaker note as buyers backed away ahead of China's economic releases over the weekend, which will include the latest reports for retail sales, fixed asset investment, and industrial production. China itself bucked the broader trend and eked out a small gain on Friday, aided by yet another spike of buying interest in the final hour of trading.

In economic data:
China's August New Loans CNY809.60 bln (expected CNY850.00 bln; prior CNY1.48 tln) and August M2 Money Supply +13.3% year-over-year (prior +13.3%)
Japan's Q3 BSI Large Manufacturing Conditions 11.0 (prior -6.0)

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Japan's Nikkei declined 0.2% in a relatively subdued day of trading. Weakness in the industrials (-1.6%), materials (-1.1%), and technology (-0.8%) sectors pressured the market. Fujikura (-4.4%), Nitto Denko (-4.0%), and Mitsubishi Electric (-4.0%) led individual decliners while Daiwa House Industry (+3.8%), UNY Group Holdings (+3.0%) and Konami Corp (+2.9%) paced the winners. Out of the 225 index members, 101 ended higher, 119 finished lower, and 3 were unchanged. For the week, the Nikkei increased 2.7%.
Hong Kong's Hang Seng declined 0.3% amid steady selling pressure that kicked in following an early 1.6% gain. China Shenhua Energy (-5.1%), PetroChina (-3.9%), and China Life Insurance Co (-3.0%) were the biggest laggards. China Resources Power Holdings (+3.9%), Sun Hung Kai Properties (+3.9%), and Cheung Kong Property Holdings (+3.0%) topped the list of winners. Out of the 50 index members, 23 ended higher, 26 finished lower, and 1 was unchanged. For the week, the Hang Seng increased 3.2%.
China's Shanghai Composite increased 0.1%, aided by a last hour spurt of buying interest that brought the Composite back from a 1.0% decline. Earlier in the day it was reported that new loans in August were weaker than expected. Over the weekend, China will be releasing closely-watched data for retail sales, fixed asset investment, and industrial production. For the week, the Shanghai Composite increased 1.3%.

Major European indices trade lower across the board with UK's FTSE (-0.4%) trading a bit ahead of other indices.

Investors received several data points:
Germany's August CPI 0.0% month-over-month, as expected; +0.2% year-over-year, as expected. Also of note, August Wholesale Price Index -0.8% month-over-month (expected 0.2%; prior 0.1%)
France's July Current Account swung from a surplus of EUR800 million to a deficit of EUR400 million (expected surplus of EUR600 million)
Spain's August CPI -0.3% month-over-month, as expected; -0.4% year-over-year, as expected
Italy's July Industrial Production +1.1% month-over-month (expected 0.5%; prior -1.0%); +2.7% year-over-year (consensus 0.9%; last -0.3%)

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UK's FTSE is lower by 0.4% with consumer and telecom names under pressure while miners outperform. Associated British Foods, Sainsbury, Inmarsat, and Vodafone show losses between 1.8% and 2.9%. On the flip side, Anglo American, Antofagasta, BHP Billiton, and Rio Tinto hold gains between 1.8% and 2.8%.
Germany's DAX has surrendered 0.7% with all 30 components in the red. E.On is the worst performer, down 2.5% while Deutsche Bank is lower by 0.7%. As for exporters, BMW, Daimler, and Volkswagen are down between 0.3% and 0.6%.
In France, the CAC is down 0.8% with all but six components in the red. Consumer names Accor, Carrefour, and Vivendi are down between 1.5% and 3.0% while Total outperforms, trading higher by 1.2%.

8:31 am: [BRIEFING.COM] S&P futures vs fair value: -5.60. Nasdaq futures vs fair value: -1.60.

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

August producer prices were unchanged while the Briefing.com consensus expected a decrease of 0.1%. Core producer prices increased 0.3% while the consensus expected a reading of 0.1%.

7:53 am: [BRIEFING.COM] S&P futures vs fair value: -6.30. Nasdaq futures vs fair value: -3.40.

U.S. equity futures hold modest pre-market losses amid defensive action overseas. The S&P 500 futures hover six points below fair value after sliding from highs shortly before the start of the European session.

Meanwhile, Treasuries hold gains with the 10-yr yield down two basis points at 2.21%.

On the economic front, August PPI (Briefing.com consensus -0.1%) will be reported at 8:30 ET while the preliminary reading of the Michigan Sentiment survey (consensus 91.5) will be released at 10:00 ET. The day's data will be topped off with the 14:00 ET release of the Treasury Budget for August.

In U.S. corporate news of note:

Finisar (FNSR 12.51, -2.40): -16.1% after missing estimates and guiding below analyst expectations.
Marvell (MRVL 9.50, -1.05): -10.0% after missing revenue estimates and announcing that the Audit Committee will continue an independent investigation of the company's accounting.

Reviewing overnight developments:

Asian markets ended mostly lower. Hong Kong's Hang Seng -0.3%, Japan's Nikkei -0.2%, and China's Shanghai Composite +0.1%
In economic data:
China's August New Loans CNY809.60 bln (expected CNY850.00 bln; prior CNY1.48 tln) and August M2 Money Supply +13.3% year-over-year (prior +13.3%)
Japan's Q3 BSI Large Manufacturing Conditions 11.0 (prior -6.0)
In news:
The Bank of Korea left its key lending rate unchanged at 1.50%, as expected

Major European indices trade lower across the board. UK's FTSE -0.4%, France's CAC -0.7%, and Germany's DAX -0.7%. Elsewhere, Italy's MIB -0.2% and Spain's IBEX -1.1%
Investors received several data points:
Germany's August CPI 0.0% month-over-month, as expected; +0.2% year-over-year, as expected. Also of note, August Wholesale Price Index -0.8% month-over-month (expected 0.2%; prior 0.1%)
France's July Current Account swung from a surplus of EUR800 million to a deficit of EUR400 million (expected surplus of EUR600 million)
Spain's August CPI -0.3% month-over-month, as expected; -0.4% year-over-year, as expected
Italy's July Industrial Production +1.1% month-over-month (expected 0.5%; prior -1.0%); +2.7% year-over-year (consensus 0.9%; last -0.3%)
Among news of note:
European Central Bank member Benoit Coeure commented on the central bank's QE program, saying it will continue until growth is strong enough to create a sufficient number of jobs

5:59 am: [BRIEFING.COM] S&P futures vs fair value: +4.50. Nasdaq futures vs fair value: -3.30.

5:59 am: [BRIEFING.COM] Nikkei...18264.22...-35.40...-0.20%. Hang Seng...21504.37...-58.10...-0.30%.

5:59 am: [BRIEFING.COM] FTSE...6134.64...-21.20...-0.30%. DAX...10108.22...-102.20...-1.00%.

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
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