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 Post subject: October 2nd Friday Trade Results - Profit $8962.50
PostPosted: Fri Oct 02, 2015 8:09 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 @ $8962.50 dollars or +179.25 points, Light Crude Oil CL ($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 @ $8962.50 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=2186

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 the week on an upbeat note despite stumbling at the start. The S&P 500 turned a 30-point loss into a 28-point gain to end higher by 1.4% while the Nasdaq Composite (+1.7%) outperformed. For the week, the S&P 500 jumped 1.0% while the Nasdaq added 0.5%.

The opening dive occurred after the release of the Nonfarm Payrolls report for September, which disappointed on all fronts. According to the report, only 142,000 jobs were added, which was a far cry from the Briefing.com consensus, which expected a reading of 205,000. Adding insult to injury, the prior month's job growth was revised down to 136,000 from 173,000 and hourly earnings showed no growth.

In sum, the weak nature of the report caused the market to reconsider its rate-hike expectations. Bond traders were quick to show their doubt about the likelihood of a rate hike before 2016, evidenced by a surge in Treasuries. The 10-yr note jumped more than a point immediately after the report, narrowing its gain to 16 ticks by the close with the 10-yr yield falling five basis points to 1.98%.

Elsewhere, the Dollar Index (95.93, -0.25) dropped to late September levels in the morning, but erased more than half of its decline by the close, ending lower by 0.3%. Most notably, the dollar/yen pair dove below the 119.00 mark in the morning, but returned above 119.00 around 10:30 ET and continued climbing into the afternoon. The pair ticked above 120.00 during the final hour of action, which is a level that has been in focus throughout the week. The 120.00 level will deserve attention going into next week considering dips below that mark have been congruent with a risk-off attitude while rallies north of 120.00 have coincided with strength in equities.

Nine of ten sectors ended in the green with energy (+4.0%) finishing well ahead of other groups. The sector received a boost from crude oil, which climbed 1.8% to $45.55/bbl. Thanks to today's spike, the energy sector gained 2.8% for the week while only two other groups-health care and materials-added more than 2.0% since last Friday.

Although the energy sector was a clear standout, the outperformance in the health care sector (+2.1%) was more notable since biotechnology powered that move. The iShares Nasdaq Biotechnology ETF (IBB 315.40, +10.44) spiked 3.4%, ending the week higher by 1.7% after being down almost 8.0% at its lowest point on Monday.

Biotechnology's outperformance helped the Nasdaq finish in the lead while large cap technology listings like Apple (AAPL 110.38, +0.80), Google (GOOGL 656.99, +14.99) also contributed to the Nasdaq's strength. For its part, the technology sector gained 1.5%.

On the downside, the financial sector narrowed its loss to 0.1% after showing a 2.0%+ decline in the early going in response to the disappointing jobs report.

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

Economic data included Nonfarm Payrolls and Factory Orders:

Nonfarm payrolls increased by 142,000 while the Briefing.com consensus expected a reading of 205,000
August nonfarm payrolls revised to 136,000 from 173,000
July nonfarm payrolls revised to 223,000 from 245,000
Private sector payrolls increased by 118,000 (Briefing.com consensus 200,000)
August private sector payrolls revised to 100,000 from 140,000
July private sector payrolls revised to 195,000 from 224,000
Unemployment rate held at 5.1%, which is what the consensus expected
The U6 unemployment rate, which accounts for the total unemployed plus persons marginally attached to the labor force and the underemployed, slipped to 10.0% from 10.3% in August
Average hourly earnings were unchanged (Briefing.com consensus 0.2%) after an upwardly revised 0.4% increase (from 0.3%) in August
The labor force participation rate ticked down to 62.4% from 62.6%
Factory orders declined 1.7% in August after increasing a downwardly revised 0.2% (from 0.4%) while the Briefing.com consensus expected a 1.0% drop
That was the largest decline since a 3.7% drop was registered in December 2014
The weakness in the manufacturing sector comes as a strong dollar has curtailed export demand and low oil prices have reduced demand for drilling equipment

Monday's data will be limited to the 10:00 ET release of the ISM Services report for September.

Nasdaq Composite -0.6% YTD
S&P 500 -5.2% YTD
Dow Jones Industrial Average -7.6% YTD
Russell 2000 -7.5% YTD

Week in Review: Volatile Action Continues

The trading week got off to a very poor start for the major indices, which experienced steady selling pressure from the opening bell in a trend-down day. The S&P 500 lost 2.6%. Global growth concerns were at the heart of Monday's pullback along with another dastardly performance by the biotechnology sector. The growth concerns were triggered anew by a caustic research note on the business prospects for commodity producer Glencore (GLCNF 1.07, -0.41), an 8.8% year-over-year decline in China's industrial profits, a disappointing 1.4% monthly decline in pending U.S. home sales for August, and a declaration from International Monetary Fund (IMF) head Christine Lagarde that the IMF's forecasts for global growth of 3.3% this year and 3.8% next year are no longer realistic due principally to the weakness in emerging markets.

The market ended Tuesday on an uninspiring note after surrendering the bulk of its intraday gain. The S&P 500 (+0.1%) added two points after showing an eight-point gain during the opening hour. Equity indices rallied at the start, but the rebound from Monday's 2.6% dive in the S&P 500 hit resistance right beneath the 1,900 level, at which point most sectors began backing away from their morning highs. The health care sector (+0.9%) held the lead throughout the day, but the influential group also retreated from its high as market-wide selling pressure grew heavier during the afternoon.

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, 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 the 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 the day'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.

Thursday ended on a modestly higher note after the key indices climbed off their intraday lows. The S&P 500 (+0.20%) settled within four points of its unchanged level while the Dow and Nasdaq settled not far behind. 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.

3:40 pm: [BRIEFING.COM]

Some commodities such as precious metals got a boost this morning following the jobs data, sent the dollar index sharply lower
Silver led metals today, ending pit trading +5.2% at $15.24/oz (Dec contract), while Dec gold gained +2.1% at $1136.70/oz
In industrial metals, Dec copper only rallied +1.3% today to $2.33/lb
Oil prices have been under pressure all morning, despite the weakness in the dollar, as a number of bearish variables remain in the market
However, following the weekly Baker Hughes data, oil prices rallied after the data showed a large decline in rigs usage
Nov WTI crude oil ended today's session +1.8% at $45.55/barrel
Nov natural gas only gained 0.4% today to end at $2.45/MMBtu

2:55 pm:

[BRIEFING.COM] The S&P 500 trades higher by 0.4% with one hour remaining in the Friday session.

The stock market stumbled at the start of the session, but the S&P 500 notched its low during the opening hour and began a steady climb shortly thereafter. It is worth noting that the opening dive occurred as the yen surged against the dollar, sending the dollar/yen pair below the 119.00 mark; however, the currency pair returned above 119.00 around 10:30 ET and continued climbing into the afternoon. Currently, the pair hovers near 120.00, which is a level that has been in focus throughout the week, considering dips below 120.00 have been congruent with a risk-off attitude while rallies north of 120.00 have coincided with strength in the equity market.

Elsewhere, Treasuries have continued their slow drip from session highs with the 10-yr yield now down just four basis points at 1.99% after testing the 1.92% level earlier.

2:25 pm:

[BRIEFING.COM] Equity indices continue hovering near their highs after climbing off their morning lows. The S&P 500 is higher by 0.4%, which puts the index on track to end the week unchanged.

Thanks to today's rebound, six of ten sectors are now tracking week-to-date gains while financials, technology, utilities, and telecom services are on course to end the week with respective losses of 1.7%, 0.3%, 0.4%, and 1.6%.

Elsewhere, the energy sector (+2.7%) has seized the lead thanks to a recent surge in crude oil. The energy component is now up 2.1% at $45.64/bbl, looking to end the week little changed.

1:55 pm:

[BRIEFING.COM] The major averages hover near their best levels of the session.

A big miss in employment sector growth has put a dent into the expectations for a near term rate hike.

Nonfarm payrolls increased by 142,000 in September after adding a downwardly revised 136,000 (from 173,000) in August. The Briefing.com Consensus expected nonfarm payrolls to increase by 205,000.

Private payrolls added 118,000 jobs in September, up from a downwardly revised 100,000 (from 140,000) in August. The consensus expected private payrolls to add 200,000 jobs in September.

All signs were pointing toward a rebound in the employment sector. Layoff levels, as shown by the initial claims level, were flirting with 15-year lows for the past month. The JOLTS report showed the most unfilled and open jobs since data started being collected in 2000.

Businesses should have easily added 200,000 or more jobs in September.

Not only did that not happen, but no amount of spin can make the September employment situation seem positive.
Related Quotes

Total aggregate earnings declined 0.2% in September after increasing a downwardly revised 0.4% (from 0.7%) in August.

Given the drop in aggregate earnings, positive consumption growth will only come about if consumers dip into their savings. So far in this recovery, consumers have been reluctant to reduce their savings to increase consumption growth.

1:30 pm:

[BRIEFING.COM] Stocks are at session highs as the major U.S. indices continue seeing buying interest despite trading in meaningfully negative territory earlier following this morning's economic data.

A look inside the Dow Jones Industrial Average shows that Pfizer (PFE 32.73, +0.89), Chevron (CVX 80.15, +1.81), and Caterpillar (CAT 65.38, +0.99) are outperforming. Pfizer was upgraded to Overweight at Morgan Stanley this morning while Chevron is higher amid strength in the energy sector, today's best performing industry.

Conversely, JPMorgan (JPM 60.13, -0.85) is the worst-performing Dow component as financial names slump following this morning's nonfarm-payroll data, which many speculate indicate could be a catalyst for a longer time-frame before the Fed agrees to raise interest raise.

For the week, the DJIA is now up 0.2%, but still down 8.3% this year

12:50 pm:

[BRIEFING.COM] Equity indices trade near their flat lines at midday after climbing off their opening lows. The S&P 500 (+0.1%) is higher by two points after showing a 30-point decline shortly after the opening bell.

The major averages began the final session of the week on a sharply lower note in reaction to a disappointing Nonfarm Payrolls report for September. According to the report, only 142,000 jobs were added while the Briefing.com consensus expected a reading of 205,000. Making matters worse, the prior month's reading was revised down to 136,000 from 173,000. Furthermore, the report showed no growth in hourly earnings while the consensus expected an increase of 0.2%.

Altogether, the report exhibited all-around weakness, causing the market to reconsider its rate-hike expectations. Bond traders were quick to show their doubt about the likelihood of a rate hike before 2016, evidenced by a surge in Treasuries. The 10-yr note remains near its high at this juncture with its yield down seven basis points at 1.97%.

Meanwhile, stocks stumbled at the start with the move paced by the financial sector (-1.4%) as bank shares retreat in light of dimming rate-hike prospects. However, the remaining sectors have been able to climb off their lows.

Most notably, the health care sector (+0.9%) has benefited from a rebound in biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 311.43, +6.47) trades higher by 2.1% and is now up 0.4% for the week after being down nearly 8.0% at its lowest point on Monday.

Looking at other influential sectors, consumer discretionary (unch) remains a step behind the broader market while the technology sector (+0.3%) has turned positive in recent going. High-beta chipmakers have been at the forefront of the move with the PHLX Semiconductor Index climbing 0.4%.

Economic data included Nonfarm Payrolls and Factory Orders:

Nonfarm payrolls increased by 142,000 while the Briefing.com consensus expected a reading of 205,000
August nonfarm payrolls revised to 136,000 from 173,000
July nonfarm payrolls revised to 223,000 from 245,000
Private sector payrolls increased by 118,000 (Briefing.com consensus 200,000)
August private sector payrolls revised to 100,000 from 140,000
July private sector payrolls revised to 195,000 from 224,000
Unemployment rate held at 5.1%, which is what the consensus expected
The U6 unemployment rate, which accounts for the total unemployed plus persons marginally attached to the labor force and the underemployed, slipped to 10.0% from 10.3% in August
Average hourly earnings were unchanged (Briefing.com consensus 0.2%) after an upwardly revised 0.4% increase (from 0.3%) in August
The labor force participation rate ticked down to 62.4% from 62.6%
Factory orders declined 1.7% in August after increasing a downwardly revised 0.2% (from 0.4%) while the Briefing.com consensus expected a 1.0% drop
That was the largest decline since a 3.7% drop was registered in December 2014
The weakness in the manufacturing sector comes as a strong dollar has curtailed export demand and low oil prices have reduced demand for drilling equipment

12:25 pm:

[BRIEFING.COM] The stock market has continued its rebound off morning lows with the Nasdaq Composite inching into the green.

The tech-heavy Nasdaq has shown relative strength since the start thanks to a rebound in biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 310.92, +5.96) has spiked 2.0% and is now up 0.3% for the week after being down almost 8.0% at its lowest point on Monday.

To be sure, the technology sector (unch) has also contributed to the rebound in the Nasdaq with large cap components like Google (GOOGL 643.35, +1.35), Facebook (FB 91.19, +0.24), and Microsoft (MSFT 44.69, +0.08) all showing gains close to 0.3% apiece.

Unlike the Nasdaq, the S&P 500 (-0.2%) remains in the red amid considerable weakness in the financial sector (-1.7%).

11:55 am:

[BRIEFING.COM] Not much change in the market as the key indices continue hovering near their rebound highs. The S&P 500 remains lower by 11 points after recovering 19 points over the past two hours.

Biotechnology has been largely responsible for the recovery off morning lows, but there are still a few soft spots in the market. Most notably, the financial sector is lower by 2.3%, extending this week's loss to 2.8%, which puts the economically-sensitive sector well behind other groups. The underperformance is understandable considering the sector has suffered from the dimming prospects of a rate hike taking place in 2015.

The rebound in stocks has coincided with Treasuries backing away from their highs, but the 10-yr note remains in the green with its yield down nine basis points at 1.94%.

11:25 am:

[BRIEFING.COM] The major averages have continued their rebound off session lows with the S&P 500 trimming its decline to 0.8%.

Eight sectors remain in negative territory while energy (+0.2%) has recently joined health care (+0.3%) in the positive territory. The energy sector has been able to erase its loss even though crude oil remains lower by 1.2% at $44.19/bbl.

Elsewhere among cyclical sectors, consumer discretionary (-0.8%), industrials (-0.7%), and financials (-2.2%) continue showing relative weakness while the technology sector trades in-line with the S&P 500.

Given its current level, the S&P 500 is on track to extend this week's loss to 1.1%.

10:55 am:

[BRIEFING.COM] Equity indices have ticked up off their lows, but they continue holding the bulk of their losses. The S&P 500 trades lower by 0.9% while the Nasdaq Composite (-0.6%) trades a bit ahead.

The outperformance in the Nasdaq results from solid gains in the biotechnology space. To that point, the iShares Nasdaq Biotechnology ETF (IBB 311.85, +6.89) is higher by 2.2%, erasing this week's loss. On a related note, the health care sector (+0.5%) hovers in the green, while the utilities space (-0.1%) has dipped into the red after showing relative strength at the start.

Elsewhere, the financial sector (-2.5%) continues trading behind its peers.

10:35 am: [BRIEFING.COM]

The dollar index trended near the flat line overnight and in early trade ahead of the morning's US employment data
Upon release of underwhelming data, the dollar fell sharply lower and is now moderately negative on the session at -1% to 95.42
Non-farm payrolls were 142K (vs. 205K est.), Private Payrolls were 118K (vs. 200K est.) and hourly earnings M/M were flat
The lower-than-expected data (across the board) crushed the dollar as the market pushed back its consensus expectation for the Fed's first rate hike.
The index's sharp drop immediately gave positive momentum to precious metals, with both gold and silver seeing a ssteep spike on the dollar's sell-off
December gold is now +2.4% to $1140.40/oz and silver is +4% to $15.09/oz
WTI traded positive overnight and into the early trading session, as headlines indicating a rise in geopolitical tensions in Syria, peripherally contributed to bullish sentiment
Crude reversed that trend after the US data release however, moderately selling off despite a weakness in the dollar index.
November WTI is now strongly down from overnight highs (near the $45.69/barrel level) to -1.2% to $44.22/barrel
Natural gas is now positive at +0.2% to $2.44/MMBtu, bouncing from lows made yesterday (driven by the release of an inventory report which showed a large storage build)
Copper is trending in the red at -1.1% to $2.28/lb, as early morning losses have most recently been worsened by the release of weak US factor order data

10:00 am:

[BRIEFING.COM] The S&P 500 remains lower by 1.3%.

According to the just-released Factory Orders report for August, orders decreased 1.7% while the Briefing.com consensus expected a decrease of 1.0%.

9:40 am:

[BRIEFING.COM] As expected, the major averages began the trading day on the defensive in response to a disappointing September Nonfarm Payrolls report (142,000; Briefing.com consensus 205,000). The S&P 500 trades lower by 1.3% with nine sectors showing early losses.

The financial sector (-2.5%) is the clear laggard in the early going as investors push back their rate-hike expectations. Meanwhile, six other sector show losses of 1.0% or more while the utilities space (+0.4%) outperforms, benefitting from lower yields. To that point, the 10-yr note sits on its high with the benchmark yield down 12 basis points at 1.92%.

The Factory Orders report for August will be released at 10:00 ET (expected -1.0%).

9:11 am: [BRIEFING.COM] S&P futures vs fair value: -25.10. Nasdaq futures vs fair value: -56.10.

The stock market is on track for a lower open as futures on the S&P 500 trade 25 points below fair value.

Index futures climbed overnight, showing modest gains earlier this morning, but the overnight move is now history considering futures fell to lows after the release of a Nonfarm Payrolls report for September. According to the report, only 142,000 jobs were added while the Briefing.com consensus expected a reading of 205,000. Making matters worse, the prior month's reading was revised down to 136,000 from 173,000. Furthermore, the report showed no growth in hourly earnings while the consensus expected an increase of 0.2%.

The retreat in equity futures has occurred alongside a surge in Treasuries that has sent the 10-yr yield lower by 11 basis points to 1.93%.

Given the disappointing data and the lack of wage growth, market expectations for the first rate hike are all but sure to shift into next year.

One more data point remains with the August Factory Orders report set to cross the wires (expected -1.0%) at 10:00 ET.

8:48 am: [BRIEFING.COM] S&P futures vs fair value: -20.90. Nasdaq futures vs fair value: -43.20.

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

It was a somewhat mixed showing from markets in the Asia-Pacific region on Friday. That came after a tepid performance on Wall Street on Thursday and ahead of the U.S. employment report for September, which will carry monetary policy implications. Hong Kong's Hang Seng (+3.2%) was the clear winner as it played catch up following its closure on Thursday. China remained closed for holiday; Japan's Nikkei was flat; and Australia's S&P/ASX 200 declined 1.2%.

In economic data:
Japan's August Household Spending +2.5% month-over-month (expected 0.5%; prior 0.6%); +2.9% year-over-year (consensus 0.4%; last -0.2%). Separately, Monetary Base +35.1% year-over-year (consensus 34.2%; last 33.3%) and August Unemployment Rate 3.4% (expected 3.3%; last 3.3%)
South Korea's September CPI -0.2% month-over-month (expected 0.2%; prior 0.2%); +0.6% year-over-year (consensus 0.9%; last 0.7%)
Hong Kong's August Retail Sales -5.4% year-over-year (expected -4.1%; prior -2.8%)
Australia's August Retail Sales +0.4% month-over-month, as expected (last -0.1%) and August HIA New Home Sales +2.3% month-over-month (prior -0.4%)
New Zealand's ANZ Commodity Price Index +5.5% month-over-month (prior -5.2%)

------

Japan's Nikkei eked out a 0.02% gain, aided by some late buying interest. Strength in the materials (+1.4%) and consumer staples (+1.1%) sectors was offset by weakness in the health care (-1.4%) and financials (-0.4%) sectors. The top-performing stocks were Nitto Denko Corp (+5.7%), Sumitomo Osaka Cement Co (+5.0%), and Mitsubishi Motors (+4.5%) while Maruha Nichoro Corp (-4.0%), Hitachi Zosen (-3.8%), and Fukuoka Financial Group (-3.3%) brought up the rear. Out of the 225 index members, 100 ended higher, 108 finished lower, and 7 were unchanged. For the week, the Nikkei declined 0.9%.
Hong Kong's Hang Seng surged 3.2% in a catch-up trade after being closed for a holiday on Thursday. Gains were led by Galaxy Entertainment Group (+10.2%), China Resources Land (+8.7%), and China Overseas Land & Investment (+6.8%). Out of the 50 index members, only three -- Li & Fung (-1.5%), Sun Hung Kai Properties (-0.4%), and Power Assets Holdings (-0.1%) -- ended the day lower. For the week, the Hang Seng increased 1.5%.
China's Shanghai Composite: closed for holiday (National Day)

Major European indices have tumbled from their highs after the release of a disappointing U.S. Nonfarm Payrolls report.

Economic data was limited:
Eurozone August PPI -0.8% month-over-month (expected -0.6%; prior -0.1%); -2.6% year-over-year (consensus -2.4%; last -2.1%)
UK's September Construction PMI 59.9 (expected 57.5; last 57.3)
Spain's Unemployment Change 26,100 (expected 17,900; prior 21,700)

------

UK's FTSE remains higher by 0.4% with about half of its components in the green. Financials lead with Lloyds Banking Group, Prudential, and Standard Chartered up between 2.0% and 4.0%. Homebuilders lag with Barratt Developments, Persimmon, and Travis Perkins down between 0.2% and 1.0%.
Germany's DAX is now down 0.2% after showing a 1.5% gain earlier. Exporters BMW, Daimler, and Volkswagen underperform with losses between 1.4% and 5.1%. On the upside, utilities hold gains with E.On and RWE both up near 5.5%.
In France, the CAC hovers just above its flat line. Growth-sensitive names lead with ArcelorMittal, Total, and Bouygues up between 1.5% and 3.1%. On the flip side, Peugeot is the weakest performer, trading lower by 2.6%.

8:30 am: [BRIEFING.COM] S&P futures vs fair value: -10.10. Nasdaq futures vs fair value: -14.90.

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

September nonfarm payrolls came in at 142,000 while the Briefing.com consensus expected a reading of 205,000. The prior month's reading was revised down to 136,000 from 173,000. Nonfarm private payrolls added 118,000 against the 200,000 expected by the consensus. The unemployment rate held at 5.1%, which is what the Briefing.com consensus expected.

Hourly earnings were unchanged, while the consensus expected an uptick of 0.2%. The average workweek was reported at 34.5, while the consensus expected a reading of 34.6.

7:56 am: [BRIEFING.COM] S&P futures vs fair value: +10.30. Nasdaq futures vs fair value: +29.80.

U.S. equity futures trade near their pre-market highs amid upbeat action overseas with S&P 500 futures hovering ten points above fair value. However, some volatility is expected to surround the 8:30 ET release of the Nonfarm Payrolls report for September (Briefing.com consensus 205,000). In addition to Nonfarm Payrolls, investors will receive the August Factory Orders report at 10:00 ET (expected -1.0%).

Treasuries hold modest losses with the 10-yr yield higher by two basis points at 2.06%.

In U.S. corporate news of note:

Micron (MU 15.75, +0.98): +6.6% after better than expected results overshadowed below-consensus guidance.
Progress Software (PRGS 22.18, -3.45): -13.5% after light revenue and below-consensus guidance overshadowed a two-cent beat and news of a fresh $100 million buyback.
Wynn Resorts (WYNN 55.40, +3.69): +7.1% amid reports Macau casinos may receive support from China's government.

Reviewing overnight developments:

Asian markets ended mixed. Hong Kong's Hang Seng +3.2%, Japan's Nikkei settled flat, and China's Shanghai Composite remained closed.
In economic data:
Japan's August Household Spending +2.5% month-over-month (expected 0.5%; prior 0.6%); +2.9% year-over-year (consensus 0.4%; last -0.2%). Separately, Monetary Base +35.1% year-over-year (consensus 34.2%; last 33.3%) and August Unemployment Rate 3.4% (expected 3.3%; last 3.3%)
South Korea's September CPI -0.2% month-over-month (expected 0.2%; prior 0.2%); +0.6% year-over-year (consensus 0.9%; last 0.7%)
Hong Kong's August Retail Sales -5.4% year-over-year (expected -4.1%; prior -2.8%)
Australia's August Retail Sales +0.4% month-over-month, as expected (last -0.1%) and August HIA New Home Sales +2.3% month-over-month (prior -0.4%)
New Zealand's ANZ Commodity Price Index +5.5% month-over-month (prior -5.2%)
In news:
ANZ economists expect China's Q3 GDP to come in at 6.4% while 2015 GDP is expected to hit 6.8%

Major European indices trade higher across the board. France's CAC +1.8%, UK's FTSE +1.5%, and Germany's DAX +1.4%. Elsewhere, Italy's MIB +1.7% and Spain's IBEX +1.0%
Economic data was limited:
Eurozone August PPI -0.8% month-over-month (expected -0.6%; prior -0.1%); -2.6% year-over-year (consensus -2.4%; last -2.1%)
UK's September Construction PMI 59.9 (expected 57.5; last 57.3)
Spain's Unemployment Change 26,100 (expected 17,900; prior 21,700)
Among news of note:
UK's construction PMI accelerated to levels last seen in March, giving a slight boost to the pound, which trades higher by about 20 pips against the dollar (1.5154)

5:48 am: [BRIEFING.COM] S&P futures vs fair value: +8.50. Nasdaq futures vs fair value: +26.30.

5:48 am: [BRIEFING.COM] Nikkei...17725.13...+2.70...+0.00%. Hang Seng...21506.09...+659.80...+3.20%.

5:48 am: [BRIEFING.COM] FTSE...6151.60...+79.10...+1.30%. DAX...9623.08...+113.80...+1.20%.

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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