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 Post subject: October 1st Thursday Trade Results - Profit $2037.50
PostPosted: Fri Oct 02, 2015 1:10 am 
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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 @ $2037.50 dollars or +40.75 points, Light Crude Oil CL ($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 @ $2037.50 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=148&t=2185

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 Daily Trading Plan Routine @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=274&t=2910 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 Thursday on a modestly higher note after climbing off its intraday low. The S&P 500 (+0.20%) settled within four points of its unchanged level while the Dow (-0.08%) and Nasdaq (+0.15%) underperformed.

Equities began the first session of Q4 just above their flat lines after a pre-market retreat caused S&P 500 futures to surrender a 25-point gain. The early morning slide from pre-market highs gathered steam following a Bloomberg report indicating the Bank of Japan does not plan to introduce additional stimulus at this time.

In addition to pressuring stocks, the report gave a boost to the yen, sending the dollar/yen pair to a session low near 119.50; however, the currency pair was able to claw its way back into the 120.00 range in the afternoon while stocks also climbed off their lows.

Five sectors ended the day in the green with the health care sector (+0.9%) finishing among the leaders. Biotechnology, meanwhile, struggled to keep pace with the broader sector, but a late rally in the iShares Nasdaq Biotechnology ETF (IBB 305.60, +2.27) helped the ETF end higher by 0.8% after being down as much as 2.1% at its lowest point.

The early underperformance in biotechnology kept the Nasdaq behind the broader market into the afternoon while the technology sector also struggled. To be fair, the tech sector trimmed its loss to 0.1% during the afternoon, while high-beta chipmakers could not follow suit, sending the PHLX Semiconductor Index lower by 1.2%. As for top-weighted tech names, Apple (AAPL 109.58, -0.72) lost 0.7% while Google (GOOGL 642.00, +3.63) added 0.6%.

Elsewhere among cyclical groups, the materials sector (+1.1%) held the lead throughout the session while the consumer discretionary space (+0.7%) rallied behind automakers and homebuilders. Ford (F 13.67, +0.10) and General Motors (GM 30.67, +0.65) posted respective gains of 0.7% and 2.2% after reporting solid September sales while the iShares Dow Jones US Home Construction ETF (ITB 26.45, +0.35) climbed 1.3%.

Also of note, the energy sector (+0.1%) settled just behind the broader market after being up more than 2.0% at the start. That early strength was brought on by a sharp morning spike in crude oil, but the energy component surrendered its entire gain, ending lower by 0.9% at $44.75/bbl after briefly crossing above $47.00/bbl. The intraday turnaround developed shortly after it was reported the Senate Banking Committee approved a bill to roll back the ban on crude oil exports.

Treasuries registered slim gains after spending the day near their flat lines with the 10-yr yield ticking down one basis point to 2.04%.

Today's participation was ahead of recent averages with more than 950 million shares changing hands at the NYSE floor.

Economic data included Initial Claims, Construction Spending, and ISM Index:

Weekly initial claims increased to 277,000 from an unrevised 267,000 while the Briefing.com consensus expected an increase to 270,000
Despite the larger-than-expected increase, the four-week moving average declined to 271,000 from 272,000, which is a level consistent with an employment sector nearing full employment
The continuing claims level declined to 2.191 million from an upwardly revised 2.244 million (from 2.242 million), representing the lowest reading since November 2000
The ISM Manufacturing Index declined to 50.2 in September from 51.1 while the Briefing.com consensus expected a decline to 50.6
If there is one bit of solace in the data, it is that manufacturing conditions -- nationally -- managed to stay in an expansion mode, albeit barely. The same could not be said for the regional data from the Federal Reserve manufacturing surveys, which showed sharp contractions in every area of the country.
With the exception of Customer Inventories -- which are reportedly too high -- all of the sub-indices either declined or were unchanged in September. That included a notable drop in both the Production (51.8 from 53.6) and New Orders (50.1 from 51.7).
Construction spending increased 0.7% in August after increasing a downwardly revised 0.4% (from 0.7%) while the Briefing.com consensus expected an increase of 0.5%
Private construction spending increased 0.7% in August, down from a 1.1% increase in July
Most of the August private construction gain came from the residential sector as residential construction spending rose a solid 1.3% in August after increasing 0.6% in July

Tomorrow, the September Nonfarm Payrolls report will be released at 8:30 ET (Briefing.com consensus 205,000) while August Factory Orders (consensus -1.0%) will be reported at 10:00 ET.

Nasdaq Composite -2.3% YTD
S&P 500 -6.6% YTD
Dow Jones Industrial Average -8.7% YTD
Russell 2000 -8.9% YTD

3:45 pm: [BRIEFING.COM]

The dollar index traded lower today, but this only helped select commodities
WTI oil futures sold off rapidly from today's high and finished the day in the red
Nov crude ultimately ended -0.9% at $44.75/barrel.
In other energy, Nov natural gas slid sharply lower today, ending -3.6% at $2.44/MMBtu
Metals lost steam as well
Dec gold dropped -0.2% to finish the day at $1113.60/oz, while Dec silver fell -0.3% to close at $14.49/oz
Copper lost recent momentum, falling -1.7% today to $2.30/lb

2:55 pm:

[BRIEFING.COM] The S&P 500 trades lower by 0.2% with one hour remaining in the trading day. The benchmark index has been able to climb off its session low, but has been kept beneath its flat line due to persistent weakness in technology (-0.6%), industrials (-0.4%), and biotechnology (IBB -0.8%).

Given its current level, the S&P 500 is on course to widen this week's decline to 0.8%; however, that standing could change diametrically tomorrow once the Nonfarm Payrolls report for September crosses the wires at 8:30 ET. The Briefing.com consensus expects the report to reveal the addition of 205,000 payrolls while the Unemployment Rate is expected to hold at 5.1%.

Elsewhere, Treasuries have erased their slim intraday gains with the 10-yr yield back to flat at 2.05%.

2:20 pm:

[BRIEFING.COM] Recent action saw the major averages climb off their lows with the S&P 500 narrowing its decline to 0.3%.

The benchmark index has been able to cut its loss in half with two influential sectors powering the move. Specifically, consumer discretionary (+0.2%) and health care (+0.3%) now trade in the green after erasing their earlier losses. Interestingly, the rebound in health care has had little impact on biotechnology as the iShares Nasdaq Biotechnology ETF (IBB 300.53, -2.80) remains lower by 0.9% at this juncture.

On the downside, the technology sector remains behind the broader market, but the group has narrowed its loss to 0.6% after being down 1.3% earlier.

1:55 pm:

[BRIEFING.COM] The major averages remain near their lowest levels of the day.

According to the September ISM report, manufacturing trends are weakening.

The ISM Manufacturing Index declined to 50.2 in September from 51.1 in August. The Briefing.com Consensus expected the index to decline to 50.6 in September.

If there is one bit of solace in the data, it is that manufacturing conditions -- nationally -- managed to stay in an expansion mode, albeit barely. The same could not be said for the regional data from the Federal Reserve manufacturing surveys, which showed sharp contractions in every area of the country.

That said, there isn't much hope that the index will manage to stay in an expansion mode in October.

With the exception of Customer Inventories -- which are reportedly too high -- all of the sub-indices either declined or were unchanged in September. That included a notable drop in both the Production (51.8 from 53.6) and New Orders (50.1 from 51.7) Indices.

1:25 pm:

[BRIEFING.COM] The major averages remain near their worst levels of the day with the S&P 500 trading lower by 0.9% while the Dow Jones Industrial Average (-1.1%) underperforms.

The price-weighted Dow has traded behind the broader market since the start as 29 of its 30 components hover in the red. Of the 29 decliners, 18 show losses larger than 1.0% apiece. Caterpillar (CAT 63.98, -1.38) is the weakest performer, trading lower by 2.1% while the largest index member by weight-Goldman Sachs (GS 173.20, -0.56)-outperforms with a loss of 0.3%.
Related Quotes

Today's decline has widened the Dow's weekly loss to 1.3%.

1:00 pm:

[BRIEFING.COM] The major averages hover near their session lows at midday with the Dow Jones Industrial Average (-1.0%) and Nasdaq Composite (-0.9%) trading behind the S&P 500 (-0.7%)

Equity indices have spent the first half of the session in a steady retreat from their opening highs. To be fair, the turn in sentiment occurred early this morning after Bloomberg reported the Bank of Japan is not looking to add to its stimulus at this time. The news was notable, considering some had expected the BoJ would expand its quantitative and qualitative easing program as early as this month.

The report was met with a quick 30-pip pullback in the dollar/yen pair (119.70) while equity futures accelerated their retreat from overnight highs.

Nine of ten sectors display midday losses while the materials space (+0.2%) holds a slim gain after surrendering 7.6% in September. Meanwhile, last month's second-weakest performing sector-energy (-0.5%)-trades a bit ahead of the broader market after being up 2.0% at the start. The early strength was associated with gains in crude oil, but the energy component has returned to unchanged at $45.12/bbl after briefly breaking through the $47.00/bbl area. The retreat from highs followed news indicating the Senate Banking Committee has approved a bill to roll back the ban on crude oil exports.

Elsewhere among cyclical sectors, industrials (-1.0%) and technology (-1.0%) underperform, which has kept the market under steady pressure. The industrial sector has suffered from losses among large cap names like Boeing (BA 129.39, -1.56), General Electric (GE 24.93, -0.29), and Caterpillar (CAT 63.87, -1.49) while transport stocks have held up relatively well with the Dow Jones Transportation Average trading flat.

For its part, technology has endured broad-based weakness with the likes of Apple (AAPL 108.80, -1.50), Microsoft (MSFT 43.82, -0.43), and Facebook (FB 89.32, -0.58) down between 0.6% and 1.3% while high-beta chipmakers also underperform. The PHLX Semiconductor Index is lower by 2.3%, turning its week-to-date gain into a 0.9% loss since last Friday.

The underperformance in technology has kept the Nasdaq Composite behind the broader market while continued weakness in biotechnology has not helped. Currently, the iShares Nasdaq Biotechnology ETF (IBB 299.48, -3.85) is lower by 1.3%.

Economic data included Initial Claims, Construction Spending, and ISM Index:

Weekly initial claims increased to 277,000 from an unrevised 267,000 while the Briefing.com consensus expected an increase to 270,000
Despite the larger-than-expected increase, the four-week moving average declined to 271,000 from 272,000, which is a level consistent with an employment sector nearing full employment
The continuing claims level declined to 2.191 million from an upwardly revised 2.244 million (from 2.242 million), representing the lowest reading since November 2000
The ISM Manufacturing Index declined to 50.2 in September from 51.1 while the Briefing.com consensus expected a decline to 50.6
If there is one bit of solace in the data, it is that manufacturing conditions -- nationally -- managed to stay in an expansion mode, albeit barely. The same could not be said for the regional data from the Federal Reserve manufacturing surveys, which showed sharp contractions in every area of the country.
With the exception of Customer Inventories -- which are reportedly too high -- all of the sub-indices either declined or were unchanged in September. That included a notable drop in both the Production (51.8 from 53.6) and New Orders (50.1 from 51.7).
Construction spending increased 0.7% in August after increasing a downwardly revised 0.4% (from 0.7%) while the Briefing.com consensus expected an increase of 0.5%
Private construction spending increased 0.7% in August, down from a 1.1% increase in July
Most of the August private construction gain came from the residential sector as residential construction spending rose a solid 1.3% in August after increasing 0.6% in July

12:30 pm:

[BRIEFING.COM] Not much change to today's trading dynamic as the key indices continue struggling with the S&P 500 down 0.7% after hitting a session low in the 1,900 area.

The top-weighted technology sector (-1.3%) has lagged since the opening bell and things have not gotten much better for the influential group. High-beta chipmakers outperformed yesterday, but the PHLX Semiconductor Index has surrendered 2.5% to retrace the bulk of yesterday's gain. Meanwhile, heavily-weighted sector components like Apple (AAPL 108.82, -1.48), IBM (IBM 141.99, -2.98), and Facebook (FB 89.27, -0.63) hold losses between 0.7% and 2.1%.

Elsewhere, Treasuries continue hovering near their highs with the 10-yr yield down two basis points at 2.03%.

11:55 am:

[BRIEFING.COM] Equity indices have extended their losses with the S&P 500 trading lower by 0.8% amid losses in all ten sectors.

Sector standing has not changed much as two cyclical groups-technology (-0.9%) and industrials (-0.7%)-continue pressuring the broader market. It is worth noting that large cap names like Caterpillar (CAT 64.02, -1.34) and Boeing (BA 129.50, -1.45) have weighed on the industrial sector while transport stocks trade in mixed fashion with the Dow Jones Transportation Average drifting near its flat line.

Also of note, the financial sector (-0.8%) now trades in-line with the S&P 500 despite showing some slight strength earlier.

11:25 am:

[BRIEFING.COM] Recent action saw the S&P 500 (-0.3%) return to its session low amid continued weakness in most sectors. The utilities space (-1.4%) trades at the bottom of the leaderboard, but more notably, the top-weighted technology sector (-1.0%) has kept the market on the defensive.

Elsewhere among influential sectors, consumer discretionary (-0.2%) and health care (-0.2%) now trade a bit ahead of the S&P 500 after showing relative weakness at the start of the session. Similarly, the financial sector (-0.4%) trades a bit ahead of the broader market.

On the upside, the materials sector (+0.5%) sits comfortably in the green thanks to gains among steelmakers, evidenced by a 1.3% gain in the Market Vectors Steel ETF (SLX 21.90, +0.29). Meanwhile, the other commodity-related sector-energy (-0.1%)-has dipped into red as part of a move that saw crude oil slide from its high. The energy component remains in the green for the time being, trading higher by 1.2% at $45.61/bbl after testing the $46.75/bbl level earlier.

10:55 am:

[BRIEFING.COM] The major averages continue hovering in the red with the Nasdaq Composite (-0.6%) trailing the S&P 500 (-0.3%) amid continued weakness in the technology sector (-1.0%).

The top-weighted tech sector has been pressured by a 2.4% slide in the shares of Apple (AAPL 107.60, -2.70) while most other large cap names also trade in negative territory. Meanwhile, high-beta chipmakers underperform across the board with the PHLX Semiconductor Index trading lower by 2.1%.

Furthermore, biotechnology has also contributed to the relative weakness in the Nasdaq as the iSharesNasdaq Biotechnology ETF (IBB 300.81, -2.52) trades lower by 0.8% after being down as much as 2.1% earlier.

10:35 am: [BRIEFING.COM]

The dollar index trended flat overnight and in early trade, ahead of the morning's unemployment data, and with an eye toward tomorrow's jobs report
Following the release of slightly higher-than-expected initial claims data (and lower-than-expected continuing claims numbers) the dollar saw a gradual sell-off
Lending positive momentum to both WTI and precious metals trading, the dollar is now -0.2% to 96.22
Both WTI and copper traded strongly positive overnight, driven largely by a perceived improvement in Chinese manufacturing activity
A measure of Chinese purchasing manager activity showed modest improvement, beating expectations and bouncing from multi-year lows made last month
Crude has continued to rally in recent trade, and is extending its daily gains at +3.3% to $46.59/barrel. Copper however, has given up all its gains and is currently -0.3% at $2.33/lb
Natural trended flat overnight, before seeing a moderate sell-off going into the morning's EIA inventory report (expected to show a build of ~100 bcf)
Upon release of the data, which showed a build of 98 bcf, Nat gas continued its descent and is currently -1.5% to $2.49/MMBtu
Gold now stands at +0.2% to $1117/oz and silver is +0.9% to $14.65/oz

10:00 am:

[BRIEFING.COM] The S&P 500 trades lower by 0.2%.

Just released, the ISM Index for September indicated a decline to 50.2 from 51.1 while the Briefing.com consensus expected a downtick to 50.6.

Separately, construction spending increased 0.7% month-over-month in August while the Briefing.com consensus expected an increase of 0.5%.

9:40 am:

[BRIEFING.COM] The major averages have retreated from their opening levels due to relative weakness in technology (-0.4%) and biotechnology. To that latter point, the iShares Nasdaq Biotechnology ETF (IBB 299.39, -3.94) trades lower by 1.3% while the broader health care sector is down 0.5%.

Elsewhere among influential sectors, consumer discretionary (-0.1%) also lags while financials (+0.3%) outperform.

Also of note, the energy sector (+2.0%) trades well ahead of other groups thanks to a 4.2% surge in crude oil, which currently trades near $46.97/bbl.

Treasuries hold modest gains with the 10-yr yield down one basis point at 2.03%.

9:16 am: [BRIEFING.COM] S&P futures vs fair value: +2.80. Nasdaq futures vs fair value: +4.00.

The stock market is on track for a slightly higher open as S&P 500 futures trade within three points of fair value.

Futures on the benchmark index held a 30-point gain at their highest point, but they have retreated from those levels with the pullback accelerating after Bloomberg reported the Bank of Japan is not looking to add to its stimulus at this time. This was notable, considering some had expected the BoJ would expand its quantitative and qualitative easing program as early as this month.

The report from Bloomberg has weighed on equity futures while the dollar/yen pair has slipped into the 119.75 area after trading near 120.00 since yesterday afternoon.

U.S. Treasuries held modest losses during overnight action, but a steady climb off those lows has the 10-yr trading right above its flat line with the benchmark yield at 2.04%.

On the economic front, the weekly initial claims level increased to 277,000 from an unrevised 267,000 while the Briefing.com consensus expected an increase to 270,000. Despite the larger-than-expected increase, the four-week moving average declined to 271,000 from 272,000, which is a level consistent with an employment sector nearing full employment.

August Construction Spending (consensus 0.5%) and September ISM Index (consensus 50.6) will both be reported at 10:00 ET.

9:00 am: [BRIEFING.COM] S&P futures vs fair value: +1.30. Nasdaq futures vs fair value: +2.00.

The S&P 500 futures trade one point above fair value.

The Chinese market was closed for the National Holiday on Thursday, yet China still made a splash as its official Manufacturing PMI report was slightly better than expected at 49.8, albeit still in contraction territory, and up from the prior month's level of 49.7. That helped put a bid in most markets in the Asian-Pacific region on Thursday, which were also bolstered by Wall Street's strong showing on Wednesday, first-of-the-month inflows, and continued policy stimulus expectations.

In economic data:
Japan's Q3 Tankan Large Manufacturers Index 12.0 (expected 13.0; prior 15.0), Q3 Tankan Large Non-Manufacturers Index 25.0 (expected 20.0; prior 23.0), and September Final Manufacturing PMI 51.0 (expected 50.9; prior 50.9)
China's September Official Manufacturing PMI 49.8 (expected 49.6; prior 49.7), September Official Non-Manufacturing PMI 53.4 (prior 53.4), September Final Caixin Manufacturing PMI 47.2 (expected 47.2; prior 47.0), and September Final Caixin Services PMI 50.5 (expected 51.2; prior 51.5)
South Korea's September Trade Balance KRW 8.90 bln (expected KRW 6.06 bln; prior KRW 4.30 bln) as Exports -8.3% year-over-year (expected -10.0%; prior -14.9%) and Imports -21.8% (expected -18.1%; prior -18.3%). Separately, September Nikkei Manufacturing PMI 49.2 (prior 47.9), August Industrial Production +0.4% month-over-month (expected -1.1%; prior -0.3%); +0.3% year-over-year (expected -2.0%; prior -3.2%), Retail Sales +1.9% month-over-month (prior +2.0%), and August Service Sector Output +0.4% (prior +1.7%)
Australia's September AIG Manufacturing Index 52.1 (prior 51.7)
India's September Nikkei Markit Manufacturing PMI 51.2 (expected 52.0; prior 52.3)

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Japan's Nikkei increased 1.9% on the heels of a weaker than expected Tankan Large Manufacturers Index that continued to feed policy stimulus expectations. Gains were led by the financials (+3.0%), industrials (+2.7%), and materials (+2.7%) sectors. GS Yusa Corp (+6.7%), Sumitomo Realty & Development Co (+6.5%), and Mitsubishi Electric (+5.7%) led all gainers while Taisei (-3.5%), Japan Tobacco (-3.3%), and Shimizu Corp (-2.8%) were the biggest losers. Out of the 225 index members, 191 ended higher, 29 finished lower, and 5 were unchanged.
Hong Kong's Hang Seng: closed for holiday (National Day)
China's Shanghai Composite: closed for holiday (National Day)

Major European indices trade in mixed fashion with UK's FTSE (+0.8%) showing relative strength. The euro has essentially held its ground against the dollar after the release of regional PMI readings that were mostly disappointing. Currently, the single currency hovers near 1.1150 against the dollar after spending the night in a tight range.

Participants received several data points:
Eurozone September Manufacturing PMI held at 52.0, as expected
Germany's September Manufacturing PMI 52.3 (expected 52.5; prior 52.5)
France's September Manufacturing PMI 50.6 (expected 50.4; previous 50.4)
Italy's September Manufacturing PMI 52.7 (consensus 53.3; last 53.8)
Spain's September Manufacturing PMI 51.7 (expected 52.8; last 53.2)
Swiss Retail Sales -0.3% month-over-month (expected 0.3%; last 0.1%) and September SVME PMI 49.5 (consensus 53.3; previous 53.8)

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UK's FTSE trades higher by 0.8% with more than 80% of its components in the green. Energy and mining names lead with Anglo American, BHP Billiton, Fresnillo, BP, and Royal Dutch Shell up between 1.0% and 3.3%. Glencore has continued its recent struggles, trading lower by 1.9%.
In France, the CAC trades up 0.2% with Renault and Technip both up near 4.0%. Meanwhile, financials underperform with AXA, BNP Paribas, Societe Generale, and Credit Agricole down between 0.2% and 1.0%.
Germany's DAX is lower by 0.6% as Commerzbank and Deutsche Bank weigh with losses close to 1.3% apiece. Automakers also lag with BMW and Volkswagen both down near 0.8%.

8:31 am: [BRIEFING.COM] S&P futures vs fair value: +3.50. Nasdaq futures vs fair value: +10.30.

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

The latest weekly initial jobless claims count totaled 277,000 while the Briefing.com consensus expected a reading of 270,000. Today's tally was above the unrevised prior week count of 267,000. As for continuing claims, they fell to 2.191 million from 2.224 million.

7:56 am: [BRIEFING.COM] S&P futures vs fair value: +4.20. Nasdaq futures vs fair value: +14.80.

U.S. equity futures trade in the green, but they have backed away from their pre-market highs notched around 3:30 ET. The S&P 500 futures hover four points above fair value after showing a 25+ point gain earlier.

Meanwhile, U.S. Treasuries are little changed with the 10-yr yield at 2.04%.

On the economic front, 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.

In U.S. corporate news of note:

Celgene (CELG 110.57, +2.40): +2.2% in reaction to a JP Morgan upgrade to 'Overweight' from 'Neutral.'
SanDisk (SNDK 55.85, +1.52): +2.8% after Morgan Stanley upgraded the stock to 'Overweight' from 'Equal-Weight.'

Reviewing overnight developments:

Asian markets ended mostly higher, but China's Shanghai Composite and Hong Kong's Hang Seng were closed for National Day. Meanwhile, Japan's Nikkei gained 1.9%
In economic data:
Japan's Q3 Tankan Large Manufacturers Index 12.0 (expected 13.0; prior 15.0), Q3 Tankan Large Non-Manufacturers Index 25.0 (expected 20.0; prior 23.0), and September Final Manufacturing PMI 51.0 (expected 50.9; prior 50.9)
China's September Official Manufacturing PMI 49.8 (expected 49.6; prior 49.7), September Official Non-Manufacturing PMI 53.4 (prior 53.4), September Final Caixin Manufacturing PMI 47.2 (expected 47.2; prior 47.0), and September Final Caixin Services PMI 50.5 (expected 51.2; prior 51.5)
South Korea's September Trade Balance KRW 8.90 bln (expected KRW 6.06 bln; prior KRW 4.30 bln) as Exports -8.3% year-over-year (expected -10.0%; prior -14.9%) and Imports -21.8% (expected -18.1%; prior -18.3%). Separately, September Nikkei Manufacturing PMI 49.2 (prior 47.9), August Industrial Production +0.4% month-over-month (expected -1.1%; prior -0.3%); +0.3% year-over-year (expected -2.0%; prior -3.2%), Retail Sales +1.9% month-over-month (prior +2.0%), and August Service Sector Output +0.4% (prior +1.7%)
Australia's September AIG Manufacturing Index 52.1 (prior 51.7)
India's September Nikkei Markit Manufacturing PMI 51.2 (expected 52.0; prior 52.3)
In news:
The dollar/yen pair has slid into the 119.75 area from 120.00 after Bloomberg reported that the Bank of Japan is not looking to add to its monetary stimulus at this time. This comes after some had expected the BoJ would expand its quantitative easing program by year's end.

Major European indices trade in mixed fashion. UK's FTSE +0.9%, France's CAC +0.4%, and Germany's DAX -0.3%. Elsewhere, Italy's MIB -0.1% and Spain's IBEX +1.1%.
Participants received several data points:
Eurozone September Manufacturing PMI held at 52.0, as expected
Germany's September Manufacturing PMI 52.3 (expected 52.5; prior 52.5)
France's September Manufacturing PMI 50.6 (expected 50.4; previous 50.4)
Italy's September Manufacturing PMI 52.7 (consensus 53.3; last 53.8)
Spain's September Manufacturing PMI 51.7 (expected 52.8; last 53.2)
Swiss Retail Sales -0.3% month-over-month (expected 0.3%; last 0.1%) and September SVME PMI 49.5 (consensus 53.3; previous 53.8)
Among news of note:
The euro has essentially held its ground against the dollar after the release of regional PMI readings that were mostly disappointing. Currently, the single currency hovers near 1.1150 against the dollar after spending the night in a tight range.

5:54 am: [BRIEFING.COM] S&P futures vs fair value: +14.00. Nasdaq futures vs fair value: +39.00.

5:54 am: [BRIEFING.COM] Nikkei...17722.42...+334.30...+1.90%. Hang Seng...Holiday.........

5:54 am: [BRIEFING.COM] FTSE...6150.18...+88.60...+1.50%. DAX...9682.65...+22.20...+0.20%.

Special thanks to Bloomberg, Briefing, Reuters and Yahoo! Finance for their market summaries. gm

Best Regards,
M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Image@ http://twitter.com/wrbtrader Image@ http://stocktwits.com/wrbtrader

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