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 Post subject: October 9th Friday Trade Results - Profit $3575.00
PostPosted: Fri Oct 09, 2015 6:15 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 @ $3575.00 dollars or +71.50 points, Light Crude Oil CL ($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 @ $3575.00 dollars

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

Trade Log: All of my trades were posted real-time in the timestamp ##TheStrategyLab free chat room. You can read today's price action trading information about my trades (e.g. time, price entry, contract size, price exit) as the trade traversed to its completion. Also, sometimes I'll post real-time trading tips in ##TheStrategyLab chat room involving WRBs, WRB Hidden GAPs, Key Market Events (KME), Tutorial Chapters 2 & 3, WRB Zones, Reaction Highs/Lows, Contracting Volatility or Expanding Volatility. Its all archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=148&t=2191

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


4:05 pm: [BRIEFING.COM] The stock market ended a strong week on a subdued note. The S&P 500 added 0.1% after spending the day in a 13-point range while the Nasdaq Composite (+0.4%) outperformed. For the week, the benchmark index climbed 3.3% while the Nasdaq Composite advanced 2.6%.

The Friday session made for a quiet finish to a week that saw all ten sectors register gains. The S&P 500 began the trading day above its flat line, but slipped into the red around midday. The index traded just below its unchanged level into the afternoon, but turned green during the final hour.

With the benchmark index settling near its flat line, five sectors registered gains while the other five ended lower. Most notably, energy (-0.7%) and financials (-0.6%) spent the day below their flat lines, which prevented the market from stretching its legs.

Even though the energy sector lost 0.7% on Friday, the group still gained 7.8% for the week, finishing well ahead of its peers. To little surprise, the move was supported by strength in crude oil futures as the energy component climbed 0.4% to $49.67/bbl. For the week, WTI crude soared 9.1% to mid-July levels.

On the flip side, the technology sector (+0.5%) finished in the lead, giving a boost to the Nasdaq Composite. Top-weighted sector components like Apple (AAPL 112.09, +2.59), Alphabet (GOOGL 671.24, +4.24), Facebook (FB 93.24, +0.77), and Oracle (ORCL 38.10, +0.36) gained between 0.6% and 2.4% while high-beta chipmakers underperformed with the PHLX Semiconductor Index falling 0.8%. That being said, the SOX Index gained 3.5% for the week.

Elsewhere, the health care sector (+0.4%) settled just behind technology to lock in a weekly gain of 0.3%. The influential group outperformed on Friday, but struggled earlier in the week due to continued volatility in biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 308.45, +1.25) climbed 0.4% on Friday, but still lost 2.2% for the week.

Also of note, the industrial sector (+0.3%) finished among the leaders thanks to relative strength among transport stocks. The Dow Jones Transportation Average rallied 0.8%, extending its weekly gain to 4.8%. Only five DJTA components ended in the green while airlines saw broad strength with United Continental (UAL 55.71, +3.45) soaring 6.6% after reporting a 1.4% year-over-year increase in September consolidated traffic.

Similar to stocks, Treasuries spent the day inside narrow ranges, posting slim gains, with the 10-yr yield slipping one basis point to 2.10%.

Economic data was limited to Import/Export Prices and Wholesale Inventories:

Export prices, excluding agriculture, decreased 0.6% in September after decreasing 1.3% in the prior reading
Excluding oil, import prices decreased 0.3%, which followed last month's decrease of 0.4%
Wholesale inventories increased 0.1% in August after a downwardly revised 0.3% decline (from -0.1%) while the Briefing.com consensus expected no change
Durable wholesale inventories increased 0.3% after declining 0.1% in July with a 0.3% decline in automotive inventories offsetting a 0.9% increase in electrical inventories and a 0.5% increase in machinery inventories
Nondurable wholesale inventories declined 0.2% in August after declining 0.5% in July with lower oil prices helping reduce petroleum inventories (-1.4%) for the second month in a row. Meanwhile, farm product inventories declined 3.1% after declining 1.2% in July

Monday's session will be free of economic data.

Nasdaq Composite +2.0% YTD
S&P 500 -2.1% YTD
Dow Jones Industrial Average -4.1% YTD
Russell 2000 -3.3% YTD

Week in Review: Cyclical Sectors Lead Stocks Higher

The stock market enjoyed an upbeat start to the trading week with the S&P 500 returning near its rebound high from the middle of September. The benchmark index climbed 1.8% while the Nasdaq Composite (+1.6%) followed not far behind. The Monday buying frenzy was not fueled by quarterly earnings considering the first busy portion of the reporting period was still a couple weeks away. Instead, the advance was a continuation of the Friday rally, which was predicated on the belief that a disappointing September Nonfarm Payrolls report would prevent the Federal Reserve from raising rates at the October meeting. In that same vein, the bad-is-good dynamic appeared to be on display overseas as Japan's Nikkei (+1.6%), Germany's DAX (+2.7%), and France's CAC (+3.5%) vaulted higher even though Services PMI readings in Japan (51.4; prior 53.7) and the eurozone (53.7; expected 54.0) disappointed.

The market endured a shaky session on Tuesday with the Dow Jones Industrial Average (+0.1%) eking out a slim gain while the S&P 500 (-0.4%) and Nasdaq Composite (-0.7%) underperformed throughout the day. For the second day in a row, the U.S. trading day began after the release of some disappointing economic data overseas. This time, it was Germany's Factory Orders report for August, which showed a 1.8% decline while the market had expected an increase of 0.5%. That being said, European equities were able to register gains after erasing their early losses, but the strength did not carry over the U.S. session as continued weakness in the biotech space kept the broader market under pressure. Specifically, the iShares Nasdaq Biotechnology ETF (IBB 301.91, -11.29) lost 3.6% after surrendering 0.7% on Monday. On a related note, the health care sector tumbled 2.3% while most other influential sectors also struggled.

The Wednesday session ended on a higher note with the S&P 500 climbing 0.8% while the Nasdaq Composite (+0.9%) settled a bit ahead despite showing relative weakness in the early going. Overall, the midweek affair was very quiet, but there was some volatility present in the market as stocks surrendered their opening gains going into the afternoon, but returned into the middle of their ranges by the closing bell. It is worth noting that the pullback from opening highs occurred after the S&P 500 made a brief appearance above its 50-day moving average (1,997), which also served as resistance during afternoon action. Commodity-sensitive energy (+1.3%) and materials (+1.3%) paced the opening move higher, but both sectors surrendered a portion of their gains as the session wore on. The energy sector was up nearly 2.5% at the start, but retreated from its high as crude oil erased its intraday gain. The energy component settled lower by 1.5% at $47.81/bbl after sliding from its intraday high in reaction to the latest Energy Information Administration's inventory report, which showed a 3.07 million barrel build.

Thursday ended on an upbeat note after equities erased their opening losses. The S&P 500 climbed 0.9% while the Nasdaq Composite (+0.4%) underperformed throughout the day. Equity indices struggled at the start of the trading day, responding to a mixed overnight session that featured losses among most Asian indices while European stocks fought to end the day with modest gains. The advance in Europe followed the release of the latest policy meeting minutes from the European Central Bank, which stressed that a lot more stimulus still has to work its way through the financial system. Once the U.S. session got going, stocks spent the first half in the red as heavily-weighted technology (+0.5%) and health care (+0.4%) struggled; however, the two sectors were lifted off their lows during afternoon action as the S&P 500 climbed above its 50-day moving average (1,995). The afternoon rebound accelerated after the release of the September FOMC minutes, which revealed that only one Committee member believed that economic conditions do not warrant a rate hike while other members believed that a rate hike will be appropriate before the end of 2015. Despite the majority view regarding the timing of the first rate hike, several members expressed concern over downside risks to inflation.

3:45 pm: [BRIEFING.COM]

In commodities, zinc futures soared after Glencore said it would cut annual zinc production, rising as much as 12%.
Zinc futures rose over 10% today.
Horsehead Holding (ZINC), a straight zinc play, surged today as well... in late afternoon trade, shares of ZINC are +22% at $5.45/share
Oil initially rose following the rig count data, but sold off some
Nov crude ultimately ended today's session +0.4% at $49.67/barrel
Following today's WASDE report, Dec corn ended 2.6% lower at $3.82/bushel. Dec wheat fell 0.6% to $5.08/bu, while Nov beans gained 0.5% to $8.85/bu.

2:55 pm:

[BRIEFING.COM] The S&P 500 trades lower by 0.1% with one hour remaining in the session. The benchmark index slipped below its flat line shortly after noon ET and has traded in a seven-point range since then. Meanwhile, the Nasdaq (+0.3%) has also nestled into a narrow range with the difference being that the tech-heavy index continues holding posture above its unchanged level.

Four sectors continue holding gains while energy (-0.9%) remains at the bottom of the leaderboard after enjoying a strong week, climbing 7.6% since last Friday. On a related note, crude oil settled higher by 0.4% at $49.67/bbl, extending its weekly gain to 9.1%.

2:25 pm:

[BRIEFING.COM] The S&P 500 (-0.2%) remains trapped below its flat line while the Nasdaq (+0.1%) continues hovering just above its unchanged level.

With today's session marking the end of the week, nine sectors are on track to register weekly gains between 1.1% (utilities) and 7.3% (energy) while the health care sector is lower by 0.1% for the week. The health care sector has not been able to keep pace with the market due to weakness in biotechnology. To that point, the iShares Nasdaq Biotechnology ETF (IBB 307.68, +0.48) has given up 2.5% since last Friday.

Elsewhere, Treasuries have ticked back into the neighborhood of their highs with the 10-yr yield down one basis point at 2.10%.

1:55 pm:

[BRIEFING.COM] The major averages remain near their recent levels.

Wholesale inventories are growing faster than sales.

Wholesale inventories increased 0.1% in August after a downwardly revised 0.3% decline (from -0.1%) in July. The Briefing.com Consensus expected no change in wholesale inventories.

Wholesale sales fell 1.0% in August after decreasing 0.3% in July. Durable wholesale sales fell 1.2% in August after increasing 1.1% in July. A large chunk of the decline came from a 2.7% drop in automotive sales. Nondurable wholesale sales declined 0.7%.

The inventory-to-sales ratio increased to 1.31 in August from 1.30 in July. That is the largest ratio since May 2009. Prior to the Great Recession, the inventory-to-sales ratio hadn't been that high since November 2001.

1:35 pm:

[BRIEFING.COM] The major U.S. indices have continued their drift lower in recent trade and are now mixed, with just the Nasdaq sporting small gains.

A look inside the Dow Jones Industrial Average shows that Intel (INTC 32.07, -0.45), Goldman Sachs (GS 178.99, -2.08), and Exxon Mobil (XOM 79.22, -0.81) are underperforming. Goldman and Exxon are lower amid sector-specific weakness in their respective industries.
Related Quotes

Conversely, Apple (AAPL 111.88, +2.38) is the best-performing Dow component, bouncing back from recent weakness.

At current levels, the DJIA is set to close the week +3.4%. For the month, the DJIA is up 4.6%, but still down 4.4% this year.

12:55 pm:

[BRIEFING.COM] The major averages have meandered near their flat lines through the first half of a sleepy Friday session. The S&P 500 (-0.1%) hovers just below its unchanged level while the Nasdaq Composite (+0.2%) outperforms after showing relative weakness at the start.

Equity indices started the trading day near their current levels, showing little response to an overnight session that featured solid gains in Asia and Europe. To be fair, the S&P 500 entered the trading day with an impressive 3.2% week-to-date gain so today's trading dynamic should not be a huge surprise.

Three sectors hold midday gains with industrials (+0.5%) and technology (+0.2%) in the lead. Transport stocks have contributed to the outperformance in the industrial space, evidenced by a 0.9% increase in the Dow Jones Transportation Average, which is now up 5.0% for the week. Airlines have paced today's move with United Continental (UAL 55.45, +3.19) spiking 6.2% after reporting a 1.4% year-over-year increase in September consolidated traffic.

Elsewhere, the technology sector has benefitted from a strong showing among the likes of Apple (AAPL 111.49, +1.99) Hewlett-Packard (HPQ 29.53, +0.35), and Facebook (FB 92.92, +0.45) while high-beta chipmakers lag, evidenced by a 0.7% decline in the PHLX Semiconductor Index.

The relative strength in technology has helped the Nasdaq hold posture ahead of the broader market; however, biotechnology could pressure the index into the red considering the iShares Nasdaq Biotechnology ETF (IBB 306.98, -0.22) is lower by 0.1% after showing volatility in the early going.

Also of note, financials (-0.9%) and energy (-0.8%) have struggled since the early going, but the energy sector remains on course to end the week higher by 7.6%. For its part, the financial sector remains up 2.1% since last Friday.

Similar to stocks, Treasuries have spent the first half in a narrow range with the 10-yr yield unchanged at 2.11%.

Economic data was limited to Import/Export Prices and Wholesale Inventories:

Export prices, excluding agriculture, decreased 0.6% in September after decreasing 1.3% in the prior reading
Excluding oil, import prices decreased 0.3%, which followed last month's decrease of 0.4%
Wholesale inventories increased 0.1% in August after a downwardly revised 0.3% decline (from -0.1%) while the Briefing.com consensus expected no change
Durable wholesale inventories increased 0.3% after declining 0.1% in July with a 0.3% decline in automotive inventories offsetting a 0.9% increase in electrical inventories and a 0.5% increase in machinery inventories
Nondurable wholesale inventories declined 0.2% in August after declining 0.5% in July with lower oil prices helping reduce petroleum inventories (-1.4%) for the second month in a row. Meanwhile, farm product inventories declined 3.1% after declining 1.2% in July

12:25 pm:

[BRIEFING.COM] Recent action saw the S&P 500 (-0.1%) dip into the red while the Nasdaq Composite (+0.2%) remains ahead thanks to the relative strength in the technology sector (+0.3%). However, biotechnology has returned into negative territory with the iShares Nasdaq Biotechnology ETF (IBB 306.95, -0.25) now down 0.1%.

Despite the slip in biotech, the health care sector (+0.1%) remains in the green, alongside three other sectors.

On the downside, energy and financials have widened their losses to 0.9% and 0.7%, respectively, but the two groups remain on track to end the week with respective gains of 7.7% and 2.3%.

11:55 am:

[BRIEFING.COM] The S&P 500 (unch) has inched back to its flat line as quiet, range-bound action continues.

In addition to the previously mentioned financials (-0.5%) and energy (-0.8%), the consumer discretionary sector (unch) has been struggling since the early going. Altogether, the three cyclical sectors have kept the S&P 500 in a ten-point range.

Over on the countercyclical side, consumer staples (+0.4%) outperform while the health care sector (+0.2%) trades a bit ahead of the broader market. Meanwhile, telecom services (-0.5%) and utilities (-0.2%) have spent the early action in negative territory, but it is worth noting that together the two groups represent roughly 5.0% of the entire market.

11:25 am:

[BRIEFING.COM] Equity indices remain near their recent levels with the S&P 500 (+0.2%) holding a three-point gain.

Six sectors trade in the green, but relative weakness in the heavily-weighted financial sector (-0.4%) has prevented the benchmark index from climbing to a fresh session high. Similarly, the energy sector (-0.6%) has also struggled so far today, but that underperformance should not be a surprise considering the sector has soared 7.9% since last Friday.

Crude oil has supported this week's strength in the energy sector and the energy component is higher by 0.8% at $49.84/bbl today, extending this week's gain to 9.3%.

10:55 am:

[BRIEFING.COM] The S&P 500 (+0.1%) continues hovering near its opening level while the Nasdaq Composite (+0.4%) has climbed into the lead thanks to the relative strength in biotechnology.

The iShares Nasdaq Biotechnology ETF (IBB 310.04, +2.84) trades higher by 0.9% after erasing its opening loss. Accordingly, the health care sector (+0.8%) has climbed into the lead. Meanwhile, another influential group-technology (+0.5%)-follows not far behind. Thanks to its early gain, the Nasdaq is now up 2.6% for the week versus a 3.3% gain for the S&P 500.

Elsewhere, Treasuries have ticked into the green after recovering their morning losses. The 10-yr yield is now down one basis point at 2.10%.

10:35 am: [BRIEFING.COM]

The dollar index trended modestly lower overnight, driven by the release of FOMC minutes that many market participants saw as dovish in tone
The index continued its sell-off in early trade, highlighted by rate commentary from Atlanta Fed President Dennis Lockhart this morning
The dollar is now -0.4% to 95.03 and stands to be potentially further influenced by a comments from the Fed's Charles Evans
Gold rallied sharply higher in early trade on the dollar's softness, and is now holding gains at +0.9% to $1154.50/oz- well below its HoD (made near $1158/oz)
Silver trended upward with gold initially, but has since given up most of those gains to trade +0.2% to $15.79/oz on relatively muted volume
WTI traded positive overnight, breaking well above the $50/barrel level to trade at highs near $50.81/barrel.
Familiar price drivers included continuing tension in Syria, rumors of price-collaboration by non-OPEC members and sentiment ahead of today's Baker Hughes rig count.
In early and current trade however, crude has seen heavy selling pressure- falling to more modest positives at +0.4% to $49.61/barrel for the session
Natural gas has trended near-flat all session at -0.1% to $2.50/MMBtu, following yesterday's slightly-light EIA storage figure
Copper is holding strong gains, trading higher with many base metals amidst bullish supply sentiment following reports that mining-heavyweight Glencore will cut Zinc production. Copper is now +2.9% to $2.41/lb

10:00 am:

[BRIEFING.COM] The S&P 500 remains higher by 0.2%.

Just released, August wholesale inventories rose 0.1% while the Briefing.com consensus expected no change. Today's report followed last month's revised decrease of 0.3% (from -0.1%).

9:40 am:

[BRIEFING.COM] The major averages have begun the trading day near their flat lines. The Nasdaq Composite hovers just below its flat line while the S&P 500 (+0.2%) outperforms.

Seven of ten sectors trade with opening gains, paced by the industrials (+0.6%) and materials (+0.8%). On the flip side, consumer discretionary (-0.1%) and health care (-0.1%) hover in the red, but their early losses have been limited.

Also of note, the energy sector is flat despite a 1.3% spike in crude oil, which has climbed to $50.06/bbl. To be fair, the energy sector has paced this week's rally in the market, gaining 8.5% since last Friday.

Treasuries have returned to unchanged after showing modest losses earlier. The 10-yr yield is back to flat at 2.11%.

The Wholesale Inventories report for August will be released at 10:00 ET (Briefing.com consensus 0.0%).

9:09 am: [BRIEFING.COM] S&P futures vs fair value: +4.50. Nasdaq futures vs fair value: +9.00.

The stock market is on track for a modestly higher open as S&P 500 futures trade five points above fair value. Futures on the benchmark index have traded in a narrow range overnight, which will give the benchmark index a chance to build on this week's gain.

The S&P 500 ended Thursday with a 3.2% week-to-date gain while the Nasdaq Composite has climbed 2.2% since last Friday. Biotechnology has been responsible for the underperformance in the Nasdaq, evidenced by a 2.6% week-to-date drop in iShares Nasdaq Biotechnology ETF (IBB 307.20, 0.00).

On the earnings front, Alcoa (AA 10.72, -0.29) is on track to open lower by 2.6% after missing earnings and revenue estimates. Also of note, the company reaffirmed its global aluminum demand growth forecast at 6.5%, but lowered its outlook for sales in China.

Moving to economic news, export prices, excluding agriculture, decreased 0.6% in September after decreasing 1.3% in the prior reading. Meanwhile, import prices, excluding oil, decreased 0.3% to follow last month's decrease of 0.4%.

The Wholesale Inventories report for August will be released at 10:00 ET (Briefing.com consensus 0.0%).

Treasuries sit just above their lows with the 10-yr yield higher by a basis point at 2.12%.

8:54 am: [BRIEFING.COM] S&P futures vs fair value: +6.50. Nasdaq futures vs fair value: +13.10.

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

Markets in the Asia-Pacific region were pretty much higher across the board on Friday, bolstered by Wall Street's rally on Thursday, the continued rebound in commodity prices, and an underlying belief that the Federal Reserve isn't going to raise the fed funds rate in the near term. Basically, it was more of the same considerations that powered the markets to big gains overall for the week.

In economic data:
Australia's August Home Loans +2.9% month-over-month (expected +5.0%; prior -0.3%) and August Invest Housing Finance -0.4% month-over-month (prior +0.5%)
New Zealand's September Electronic Card Retail Sales +0.9% month-over-month (prior +0.5%); +6.1% year-over-year (prior +4.2%)

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Japan's Nikkei increased 1.6% and ended at its high for the day. The broad-based advance was led by the industrials (+4.1%), materials (+3.8%), and technology (+2.6%) sectors. Obayashi Corp (+9.5%), Toho Zinc (+8.5%), and Toyota Tsusho (+8.1%) were the top-performing issues. Fast Retailing (-9.8%), NTT Data Corp (-2.0%), and Asahi Glass Co (-1.2%) led a small group of losers. Out of the 225 index members, 215 ended higher, 9 finished lower, and 1 was unchanged. For the week, the Nikkei gained 4.0%.
Hong Kong's Hang Seng increased 0.5% but faded in the afternoon session after being up as much as 2.0% in early trading. BOC Hong Kong Holdings (+4.3%), CNOOC (+3.6%), and Lenovo Group (+3.5%) were the biggest gainers. Cheung Kong Property Holdings (-2.0%), China Mengniu Dairy (-1.8%), and Sino Land Co (-1.8%) were the biggest laggards. Out of the 50 index members, 30 ended higher, 19 finished lower, and 1 was unchanged. For the week, the Hang Seng increased 4.4%.
China's Shanghai Composite increased 1.3%, continuing to build on Thursday's rally effort and following through with a catch-up trade in its abbreviated week of trading. In its only two trading sessions of the week, the Shanghai Composite managed to increase a combined 4.3%.

Major European indices trade higher across the board with Germany's DAX (+1.3%) showing relative strength. On a separate note, the euro has continued this week's rally, climbing to 1.1360 against the dollar after the pair started the week near 1.1216.

Economic data was limited:
UK's August trade deficit narrowed to GBP11.15 billion from GBP12.20 billion (expected deficit of GBP10.00 billion)
Italy's August Industrial Production -0.5% month-over-month (expected -0.3%; prior 1.1%); +1.0% year-over-year (consensus 1.6%; last 2.8%)
France's August Industrial Production +1.6% month-over-month (consensus 0.5%; last -1.1%) and government budget deficit has widened to EUR89.70 billion from EUR79.80 billion

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UK's FTSE trades higher by 1.0% with miners continuing their recent strength. Anglo American, BHP Billiton, Glencore, Fresnillo, and Standard Chartered sport gains between 3.7% and 11.1%. Consumer names underperform with Sports Direct International, Carnival, and TUI down between 1.3% and 3.0%.
In France, the CAC has climbed 1.1% amid gains in most components. ArcelorMittal leads with a 9.3% spike while Peugeot and Renault follow with respective gains of 3.5% and 2.5%. Financials BNP Paribas and Credit Agricole also trade ahead of the broader market, showing gains of 1.7% and 2.6%, respectively.
Germany's DAX has spiked 1.3% with utilities pacing the move. RWE trades up 7.7% and E.On is higher by 3.9%. Also of note, exporters appear among the leaders with BMW, Daimler, and Volkswagen up between 2.0% and 2.6%.

8:30 am: [BRIEFING.COM] S&P futures vs fair value: +5.50. Nasdaq futures vs fair value: +12.00.

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

Export prices, excluding agriculture, decreased 0.6% in September after decreasing 1.3% in the prior reading. Excluding oil, import prices decreased 0.3%, which followed last month's decrease of 0.4%.

7:55 am: [BRIEFING.COM] S&P futures vs fair value: +3.00. Nasdaq futures vs fair value: +5.30.

U.S. equity futures trade near their flat lines amid upbeat action overseas. The S&P 500 futures hover three points above fair value after spending the night in an 11-point range.

On the economic front, September Import/Export Prices will be reported at 8:30 ET while the August Wholesale Inventories report will be released at 10:00 ET (Briefing.com consensus 0.0%).

Similar to equity futures, Treasuries are little changed with the 10-yr yield unchanged at 2.11%.

In U.S. corporate news of note:

Alcoa (AA 10.73, -0.28): -2.5% after missing earnings/revenue estimates and reaffirming its 2015 aluminum demand growth forecast at 6.5%; however, the company has lowered its outlook for aluminum sales in China.
UTi Worldwide (UTIW 6.95, +2.23): +47.3% after agreeing to be acquired by DSV for $7.10/share, representing a 50.0% premium to yesterday's closing price.

Reviewing overnight developments:

Asian markets ended higher. Hong Kong's Hang Seng +0.5%, China's Shanghai Composite +1.3%, and Japan's Nikkei +1.6%
In economic data:
Australia's August Home Loans +2.9% month-over-month (expected +5.0%; prior -0.3%) and August Invest Housing Finance -0.4% month-over-month (prior +0.5%)
New Zealand's September Electronic Card Retail Sales +0.9% month-over-month (prior +0.5%); +6.1% year-over-year (prior +4.2%)
In news:
Bank of Japan Governor Haruhiko Kuroda said that a slowdown in emerging economies is a negative to Japan's exports, but the central bank chief stressed that his outlook for a moderate recovery remains unchanged

Major European indices trade higher across the board. Germany's DAX +1.2%, France's CAC +1.1%, and UK's FTSE +1.1%. Elsewhere, Italy's MIB +0.9% and Spain's IBEX +1.3%
Economic data was limited:
UK's August trade deficit narrowed to GBP11.15 billion from GBP12.20 billion (expected deficit of GBP10.00 billion)
Italy's August Industrial Production -0.5% month-over-month (expected -0.3%; prior 1.1%); +1.0% year-over-year (consensus 1.6%; last 2.8%)
France's August Industrial Production +1.6% month-over-month (consensus 0.5%; last -1.1%) and government budget deficit has widened to EUR89.70 billion from EUR79.80 billion
Among news of note:
The euro has continued this week's rally, climbing to 1.1360 against the dollar (+0.6%) after starting the week near 1.1216

5:48 am: [BRIEFING.COM] S&P futures vs fair value: -0.50. Nasdaq futures vs fair value: -1.00.

5:48 am: [BRIEFING.COM] Nikkei...18438.67...+297.50...+1.60%. Hang Seng...22458.80...+103.90...+0.50%.

5:48 am: [BRIEFING.COM] FTSE...6426.14...+51.30...+0.80%. DAX...10108.24...+115.20...+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
Business Hours: 8am - 5pm est (Mon - Fri)
Skype Messenger: kebec2002
wrbanalysis@gmail.com


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