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 Post subject: October 15th Thursday Trade Results - Profit $5187.50
PostPosted: Fri Oct 16, 2015 2:51 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 @ $5187.50 dollars or +103.75 points, Light Crude Oil CL ($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 @ $5187.50 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=2195

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


4:20 pm: [BRIEFING.COM] The stock market charged higher on Thursday, erasing its entire decline from the early portion of the week. The S&P 500 spiked 1.5% while the Nasdaq Composite (+1.8%) outperformed.

The broad-based rally in the U.S. followed an overnight session that featured dovish comments from two European Central Bank members, setting expectations for more monetary easing from the central bank. This started with Vitor Constancio who spoke in Hong Kong, joining the chorus of voices calling on the Federal Reserve to delay its first rate hike while Ewald Nowotny said that more needs to be done by the ECB in light of soft inflation data.

The dovish remarks from two ECB policymakers weighed on the euro, sending the single currency lower by 0.8% against the dollar to 1.1383. To be fair, the Dollar Index (94.46, +0.47), which gained 0.5%, spiked to highs after the release of today's economic data, which included a 42-year low initial claims reading (255,000; Briefing.com consensus) and an in-line CPI report (+0.2%).

In addition to the flurry of economic data, investors received a fair batch of quarterly reports that were mostly in-line with expectations.

All ten sectors ended the day in the green with financials (+2.4%) leading the way. The influential sector was powered by Citigroup (C 52.97, +2.25) and Goldman Sachs (GS 184.96, +5.45) as the two heavyweights rallied 4.4% and 3.0%, respectively. Citigroup delivered a better than expected quarterly report while Goldman Sachs matched estimates.

The financial sector held the lead throughout the session while other groups shuffled around as the session wore on. When the dust settled, telecom services (+2.3%) and health care (+1.3%) ended not far behind financials with the health care sector rallying behind biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 314.76, +13.18) surged 4.4%, masking a 1.6% decline in the shares of UnitedHealth (UNH 59.33, -0.70), which followed a one-cent beat.

Elsewhere, the energy sector (+1.8%) finished among the leaders despite showing relative weakness in the early going. The early underperformance and the subsequent recovery followed the price action in the oil market as WTI crude was down more than 2.0% after the latest Energy Information Administration storage report showed that inventories remain near levels not seen at this time of the year for more than 80 years. However, the energy component staged a full recovery, ending the pit session lower by 0.6% at $46.38/bbl before returning to unchanged in electronic trade.

Also of note, the top-weighted technology sector (+1.3%) ended in a position of relative strength despite having a brief power outage in late morning action. That brief swoon was brought on by a pullback in chipmaker names following yesterday's M&A speculation. That being said, the PHLX Semiconductor Index still ended higher by 1.0%.

Treasuries ended the day on their session lows with the 10-yr yield rising four basis points to 2.03%.

Today's session generated the largest volume of the week with more than 933 million shares changing hands at the NYSE floor.

Economic data included Initial Claims, CPI, Empire Manufacturing, and Philadelphia Fed Survey:

The initial claims level declined to 255,000 for the week ending October 10 from a downwardly revised 262,000 (from 263,000) while the Briefing.com consensus expected an increase to 269,000
The claims level has returned to its mid-July mark, which represents the lowest level since November 1973
The continuing claims level fell to 2.158 million from an upwardly revised 2.208 million (from 2.204 million) while the consensus expected a decline to 2.200 million
The CPI declined 0.2% in September after decreasing 0.1% in August, which is what the consensus expected
The decline in prices was the result of a sizable drop in energy costs with total energy prices falling 4.7% in September after declining 2.0% in August
Gasoline prices declined 9.0% while food prices increased 0.4%
Excluding food and energy, core CPI increased 0.2% and ended two consecutive months of 0.1% gains. The consensus expected an increase of 0.1%
The Empire Manufacturing Survey for October registered a reading of -11.4, which was above the prior month's reading of -14.7, but below the Briefing.com consensus estimate, which was pegged at -8.0
The Philadelphia Fed's Business Outlook Survey increased to -4.5 in October from -6.0 in September while the Briefing.com consensus expected an increase to -2.5
While the headline index improved, nearly all of the sub-indices within the survey deteriorated on a month-to-month basis
Business managers claimed that activities were slightly improved in October, but stated overwhelmingly that trends in production, orders, and employment were worse off

Tomorrow, September Industrial Production (Briefing.com consensus -0.2%) will be reported at 9:15 ET while August Job Openings and Labor Turnover Survey and the preliminary October Michigan Sentiment Index (consensus 88.4) will be released at 10:00 ET.

Nasdaq +2.8% YTD
S&P 500 -1.7% YTD
Dow Jones Industrial Average -3.8% YTD
Russell 2000 -3.4% YTD

3:40 pm: [BRIEFING.COM]

Oil prices ran in afternoon trade, running from around $45.25/barrel to a new high for today at $46.87/barrel, which was just hit minutes ago
Natural gas held losses today after dropping post-EIA inventory data.
Nov nat gas ended today's pit session at -2.4% at $2.46/MMBtu.
Silver remained consolidated, closing +0.25 at $16.16/oz. Dec gold finished +0.6% at $1187.40/oz
Dec copper rose one cent to $2.42/lb today

2:55 pm:

[BRIEFING.COM] The S&P 500 trades higher by 1.2% with one hour remaining in the session. After enduring a midday slide from session lows, the benchmark index has been charging higher throughout the afternoon.

Investors received a moderate dose of quarterly earnings this morning and another batch is due after the closing bell; however, the earnings season will kick into high gear next week.

Later today, AMD (AMD 2.05, +0.10), Mattel (MAT 22.50, -0.02), and Wynn Resorts (WYNN 72.89, +0.52) will deliver their quarterly reports while tomorrow morning will feature results from General Electric (GE 28.11, +0.51), Honeywell (HON 98.05, -0.21), and KC Southern (KSU 98.37, +2.00).

2:25 pm:

[BRIEFING.COM] Recent action saw the major averages extend to new highs with the S&P 500 now up 1.1%.

Thanks to the push, nine sectors are now comfortably in the green while the materials sector battles with its flat line due to weakness in heavyweight sector components like Mosaic (MOS 35.04, -0.29), Alcoa (AA 9.68, -0.27), BHP Billiton (BHP 36.53, -0.14) and Freeport-McMoRan (FCX 13.00, -0.06) among others.

Meanwhile, the other commodity-linked sector-energy (+1.0%)-trades among the leaders after showing relative weakness earlier. On a related note, crude oil is on track to end the pit session lower by 0.8% at $46.26/bbl after being down more than 2.0% earlier.

1:55 pm:

[BRIEFING.COM] The major averages hover near their recently-established session highs.

Another solid reading in the initial claims level.

The initial claims level declined to 255,000 for the week ending October 10 from a downwardly revised 262,000 (from 263,000) for the week ending October 3. The Briefing.com Consensus expected the initial claims level to increase to 269,000.

That was the lowest initial claims level since it was also 255,000 for the week ending July 18.

Prior to that print, the initial claims level hadn't been that low since November 1973. The four-week moving average declined to 265,000 from 267,000. That is the lowest four-week moving average since 1973.

Overall, the trends are the same. Businesses are clearly not laying off workers, but, at the same time, they are failing to add to their work staff. The labor market is very stable.

1:25 pm:

[BRIEFING.COM] The S&P 500 (+0.9%) has spiked to a new session high thanks to the continued leadership from financials (+1.7%) and health care (+1.3%) while the technology sector (+0.8%) has returned into the neighborhood of its session high with chipmakers climbing off their lows.

Also of note, the energy sector is now higher by 0.9% after spending some time in the red. The rebound has coincided with a bounce in crude oil, but the energy component remains lower by 1.2% at $46.08/bbl going into the pit close.
Related Quotes

Elsewhere, Treasuries remain just above their lows as they maintain a narrow trading range with the 10-yr yield up three basis points at 2.02%.

12:50 pm:

[BRIEFING.COM] The major averages trade in the green at midday with the Nasdaq (+0.7%) holding posture ahead of S&P 500 (+0.6%) and the Dow Jones Industrial Average (+0.5%).

The current gains in U.S. equities follow an overnight session that featured a bullish charge in Asia and Europe after two European Central Bank officials made dovish comments with Vitor Constancio joining the chorus of voices calling for the Federal Reserve to delay its first rate hike while Ewald Nowotny called for changes to the structure of quantitative easing.

Meanwhile, quarterly earnings received since yesterday have largely provided a measure of support. Most notably, Citigroup (C 52.56, +1.84) and Goldman Sachs (GS 181.61, +2.10) hold respective gains of 3.6% and 1.3% after the former beat estimates while the latter reported in-line. Accordingly, the financial sector (+1.3%) has held the lead since the opening bell.

Elsewhere, the health care sector (+0.9%) has joined the leaders despite showing relative weakness earlier. UnitedHealth (UNH 58.80, -1.20) has given up 2.0% despite reporting a one-cent beat on better than expected revenue, but that loss has been masked by strength in biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 308.90, +7.34) trades higher by 2.4%, which has contributed to the relative strength in the Nasdaq.

Furthermore, the recent strength in biotechnology has helped the Nasdaq overcome a pullback in the technology sector (+0.5%), which had been up more than 1.0% at the start. The reversal from highs can be traced to the chipmaker industry as most components of the PHLX Semiconductor Index (+0.1%) pull back after surging 3.8% yesterday amid M&A speculation.

Also of note, the consumer discretionary sector (+0.3%) has struggled to keep pace with the market, largely due to an 8.1% drop in the shares of Netflix (NFLX 101.35, -8.98) after the company reported a one-cent miss and guided Q4 earnings below analyst expectations.

Treasuries have retraced roughly half of their gains from yesterday with the 10-yr yield up three basis points at 2.02%.

Economic data included Initial Claims, CPI, Empire Manufacturing, and Philadelphia Fed Survey:

The initial claims level declined to 255,000 for the week ending October 10 from a downwardly revised 262,000 (from 263,000) while the Briefing.com consensus expected an increase to 269,000
The claims level has returned to its mid-July mark, which represents the lowest level since November 1973
The continuing claims level fell to 2.158 million from an upwardly revised 2.208 million (from 2.204 million) while the consensus expected a decline to 2.200 million
The CPI declined 0.2% in September after decreasing 0.1% in August, which is what the consensus expected
The decline in prices was the result of a sizable drop in energy costs with total energy prices falling 4.7% in September after declining 2.0% in August
Gasoline prices declined 9.0% while food prices increased 0.4%
Excluding food and energy, core CPI increased 0.2% and ended two consecutive months of 0.1% gains. The consensus expected an increase of 0.1%
The Empire Manufacturing Survey for October registered a reading of -11.4, which was above the prior month's reading of -14.7, but below the Briefing.com consensus estimate, which was pegged at -8.0
The Philadelphia Fed's Business Outlook Survey increased to -4.5 in October from -6.0 in September while the Briefing.com consensus expected an increase to -2.5
While the headline index improved, nearly all of the sub-indices within the survey deteriorated on a month-to-month basis
Business managers claimed that activities were slightly improved in October, but stated overwhelmingly that trends in production, orders, and employment were worse off

The September Treasury Budget (consensus $95.00 billion) will be released at 3:30 ET.

12:25 pm:

[BRIEFING.COM] Equity indices hover near their opening levels after slipping from their intraday highs. The S&P 500 remains higher by 0.4% after cutting its gain in half.

The recent turnaround has featured a notable pullback in the top-weighted technology sector (+0.4%), which was up more than 1.0% at the start. Similarly, the PHLX Semiconductor Index was up more than 1.5% earlier, but that gain has been surrendered entirely. ON Semiconductor (ON 10.32, -0.42) is the weakest performer, down 3.9%, after surging 7.1% yesterday amid M&A speculation.

Meanwhile, large cap tech components like Apple (AAPL 110.62, +0.41), Alphabet (GOOGL 688.43, +8.02), Facebook (FB 95.75, +1.68) are up between 0.4% and 1.8% while others sport slimmer gains.

11:55 am:

[BRIEFING.COM] The major averages have backed away from their best levels of the day, but they remain in the green with the S&P 500 trading higher by 0.3%.

For the time being, energy (-0.7%) and materials (-0.8%) are the only two sectors trading in negative territory, but the consumer discretionary sector is teetering on its flat line. Most notably, shares of Netflix (NFLX 101.31, -8.92) have tumbled 8.1% in reaction to a one-cent miss and Q4 earnings guidance below analyst expectations.

Elsewhere in the discretionary sector, homebuilders have struggled with the iShares Dow Jones US Home Construction ETF (ITB 26.70, -0.16) trading lower by 0.6%.

11:25 am:

[BRIEFING.COM] Equity indices remain comfortably in the green and the Dow (+0.5%) has caught up to the S&P 500 (+0.5%) as gains in 21 Dow components overshadow a 1.9% decline in UnitedHealth (UNH 119.73, -2.34) and a 1.0% drop in the shares of Wal-Mart (WMT 59.39, -0.64).

The relative weakness in UnitedHealth has not stopped the health care sector (+0.5%) from keeping pace with the broader market thanks to solid gains in biotechnology. To that point, the iShares Nasdaq Biotechnology ETF (IBB 306.32, +4.74) trades higher by 1.6%.

All in all, the market appears to be on solid footing with more than 1.5 NYSE-listed issues trading in the green for each decliner. Energy (-0.5%) and materials (-0.6%) represent two soft spots after leading the charge over the past couple weeks. Today's decline comes amid a drop in commodity prices with crude oil trading lower by 2.8% at $45.36/bbl. The energy component has dropped to lows within the past hour after the latest Energy Information Administration storage report showed that inventories remain near levels not seen at this time of the year for more than 80 years.

11:00 am:

[BRIEFING.COM] The major averages have added to their gains with the S&P 500 (+0.7%) and Nasdaq Composite (+0.9%) extending to new session highs.

Broadly speaking, the market has marched higher through the first 90 minutes of the session with two top-weighted sectors pacing the advance. The financial sector (+1.4%) leads with Citigroup (C 52.11, +1.38) enjoying a 2.8% surge in reaction to better than expected earnings.

Meanwhile, the technology sector (+1.0%) follows not far behind with semiconductor names powering the move. Taiwan Semiconductor (TSM 21.99, -0.35) has given up 1.5% after reporting a bottom-line beat and lowering its capital expenditure guidance in-line with its September announcement, but most other components of the PHLX Semiconductor Index (+1.5%) hold solid gains following a barrage of M&A speculation yesterday.

10:35 am: [BRIEFING.COM]

The dollar traded moderately positive overnight and in early trade, before spiking higher on the release of positive US unemployment and CPI data
Data showed In-line CPI, modestly stronger-than-expected Core CPI and better-than-estimated figures for initial/continuing unemployment
The index is now holding moderate gains for the session at +0.4% to 94.39
Oil steadily sold-off in early trade following yesterday's API inventory report release, which showed an out-sized storage build (above 9 mln barrels)
December WTI has extended its negative momentum currently, just above its LoD at -1.8% to $45.81/barrel ahead of the morning's EIA storage report
Natural gas rallied to strong gains (from slight positives overnight) ahead of the morning's EIA inventory data, which was expected to show a build of ~92 bcf
Upon release of the data, which showed a larger-than-expected (100 bcf) build, nat gas tanked and is now a its LoD at -0.3% to $2.51/MMBtu
Gold and silver traded above the flat-line in early trade, before seeing a temporary, sharp drop on the dollar's reaction to the US economic data.
Both commodities rebounded from those drops fairly quickly however, and are now green on the day; Gold at +0.4% to $1184.80/oz and silver at +0.1% to $16.13/oz
Copper is slightly negative at -0.3% to $2.41/oz

10:00 am:

[BRIEFING.COM] The S&P 500 trades higher by 0.4% while the Nasdaq (+0.7%) remains ahead with chipmakers contributing to the relative strength in the tech-heavy index.

Just released, the Philadelphia Fed Survey for October rose to -4.5 from -6.0 while economists polled by Briefing.com had expected an uptick to -2.5.

9:45 am:

[BRIEFING.COM] The major averages have begun the trading day on an upbeat note with the S&P 500 (+0.5%) trading behind the Nasdaq Composite (+0.7%), but ahead of the Dow Jones Industrial Average (+0.2%). The price-weighted Dow has been held a bit closer to its flat line due to a 4.4% drop in the shares of UnitedHealth (UNH 116.42, -5.65). The stock has stumbled out of the gate despite a one-cent beat and reaffirmed guidance.

On a similar note, the most influential Dow component-Goldman Sachs (GS 176.37, -3.14)-is lower by 1.7% following in-line results. However, the broader financial sector (+0.8%) has shown relative strength, thanks to better than expected earnings from Citigroup (C 51.46, +0.74) and in-line results from regional banks.

Similar to financials, technology (+0.8%) and consumer staples (+0.6%) trade ahead of the broader market while health care (-0.3%), energy (-0.2%), and materials (-0.2%) lag.

Treasuries continue holding modest losses with the 10-yr yield up two basis points at 2.01%.

The Philadelphia Fed Survey for October will be reported at 10:00 ET (Briefing.com consensus -2.5).

9:17 am: [BRIEFING.COM] S&P futures vs fair value: +8.80. Nasdaq futures vs fair value: +18.90.

The stock market is on track to begin the Thursday session on a higher note with S&P 500 futures trading nine points above fair value. The opening indication follows an overnight buying bonanza across Asia and Europe that has been fueled by expectations for more monetary easing from major central banks. European Central Bank officials were on the offensive with Ewald Nowotny saying that new measures are needed in order to boost core inflation in the eurozone. Meanwhile, Vitor Constancio spoke in Hong Kong, saying that diverging monetary policy in the U.S. and eurozone could have greater spillover effects than in the past. On a similar note, a Wall Street Journal article has argued that softening economic data is likely to keep the Federal Reserve at bay for the remainder of the year.

On the economic front, initial claims dropped to 255,000 (Briefing.com consensus 269,000), representing the lowest level since November 1973, while the CPI declined 0.2% in September, as expected. Total energy prices fell 4.7% with gasoline prices declining 9.0%. Meanwhile, food prices increased 0.4%. Excluding food and energy, core CPI increased 0.2% in September (Briefing.com consensus +0.1%).

This morning has also featured a fair share of quarterly reports with Goldman Sachs (GS 177.25, -2.26) reporting in-line and Citigroup (C 51.85, +1.13) beating estimates while Netflix (NFLX 104.30, -5.93) reported a one-cent miss and guided Q4 earnings below analyst expectations last evening.

Treasuries hold slim losses with the 10-yr yield up two basis points at 2.01%.

8:58 am: [BRIEFING.COM] S&P futures vs fair value: +9.80. Nasdaq futures vs fair value: +20.10.

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

Markets in the Asia-Pacific region rallied on Thursday, bolstered by the thought that weak economic data out of the US will forestall a rate hike by the Federal Reserve in the near term and the underlying belief that central banks in China and Japan may soon be announcing new policy stimulus efforts. China's Shanghai Composite (+2.3%) led an advance that saw a number of markets gain at least 1.0%.

In economic data:
Japan's August Industrial Production revised to -1.2% month-over-month (expected -0.5%; prior -0.5%), Tertiary Industry Activity Index +0.1% month-over-month (expected 0.0%; prior +0.2%), and October Reuters Tankan Index 7.0 (prior 9.0)
China's New Loans CNY 1,050.0 bln (expected CNY 900.0 bln; prior CNY 809.6 bln) and M2 Money Stock +13.1% year-over-year (expected 13.1%; prior 13.3%
Australia's September Employment Change -5,100 (expected +5,000; prior +18,000), September Unemployment Rate 6.2% (expected 6.3%; prior 6.2%), September Participation rate 64.9% (expected 65.0%; prior 65.0%), September New Motor Vehicle Sales +5.5% (prior -1.6%), and MI Inflation Expectations 3.5% (prior 3.2%)
Singapore's August Retail Sales +5.0% month-over-month (expected +0.1%; prior -2.3%); +6.1% year-over-year (expected +1.6%; prior +5.2%)
The Bank of Korea held its policy rate steady at 1.50%, as expected

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Japan's Nikkei increased 1.2% and ended near its highs for the day as policy stimulus expectations revved up with a downward revision to Japan's industrial production in August. The gains were led by strength in the health care (+2.4%), communications (+1.5%), and consumer discretionary (+1.3%) sectors. Kyowa Hakko Kirin (+5.5%), Daiichi Sankyo (+5.1%), and Shionogi & Co. (+4.5%) topped the list of winners while Asahi Kasei (-13.6%), UNY Group Holdings (-5.0%), and Sharp Corp (-2.8%) brought up the rear. Out of the 225 index members, 193 ended higher, 27 finished lower, and 5 were unchanged.
Hong Kong's Hang Seng jumped 2.0% and closed near its highs for the session, following suit with the regional action. It was a broad-based advance for the Hang Seng, evidenced by the fact that only three of its 50 components -- Li & Fung (-4.3%), China Unicom Hong Kong (-2.8%), and Want Want China Holdings (-0.8%) -- ended the day lower.
China's Shanghai Composite advanced 2.3%, closing on its highs for the day. Buying efforts were steady throughout a trend-up session. Investor sentiment was helped along by speculation that new policy stimulus will soon be introduced.

Major European indices trade higher across the board, and like the rally in Asia, the advance in Europe has been supported by expectations for more monetary easing after European Central Bank member Ewald Nowotny said that new measures are needed in order to boost core inflation in the eurozone.

Investors did not receive any economic data of note

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UK's FTSE trades higher by 1.1% with more than 90% of its components in the green. Financials and consumer names lead with Aberdeen Asset Management, Hargreaves Lansdown, Standard Chartered, Barratt Developments, and Unilever spiking between 2.2% and 4.2%. Burberry has bucked the trend, trading lower by 9.7%, after reporting below-consensus results due to soft sales in Asia.
In France, the CAC has climbed 1.2% with automakers Renault and Peugeot trading higher by 4.0% and 2.8%, respectively. Meanwhile, financials like BNP Paribas, Credit Agricole, and Societe Generale show gains between 0.4% and 1.5%.
Germany's DAX has spiked 1.4% thanks to gains in 25 of its 30 components. Infineon leads with a 5.1% gain amid M&A speculation in the semiconductor space while heavyweights Merck, Daimler, BASF, and SAP have jumped between 2.1% and 2.6%.

8:32 am: [BRIEFING.COM] S&P futures vs fair value: +11.50. Nasdaq futures vs fair value: +23.80.

The S&P 500 futures trade 12 points above fair value.

The latest weekly initial jobless claims count totaled 255,000 while the Briefing.com consensus expected a reading of 269,000. Today's tally was below the revised prior week count of 262,000 (from 263,000). As for continuing claims, they fell to 2.158 million from 2.208 million.

Total CPI declined 0.2% (Briefing.com consensus -0.2%) in September while core CPI, which excludes food and energy, increased 0.2% (Briefing.com consensus +0.1%). On a year-over-year basis, total CPI is flat and core CPI is up 1.9%.

Separately, the Empire Manufacturing Survey for October registered a reading of -11.4, which was above the prior month's reading of -14.7, but below the Briefing.com consensus estimate, which was pegged at -8.0.

7:56 am: [BRIEFING.COM] S&P futures vs fair value: +11.00. Nasdaq futures vs fair value: +24.10.

U.S. equity futures hold solid pre-market gains with S&P 500 futures trading 11 points above fair value amid upbeat action overseas.

Meanwhile, Treasuries have staged a modest retreat with the 10-yr yield rising two basis points to 2.00%.

Investors have received a fair share of earnings since yesterday's closing bell and today's session will be relatively busy in terms of economic data. To that point, weekly Initial Claims (Briefing.com consensus 269K), September CPI (consensus -0.2%), and October Empire Manufacturing survey (expected -8.0) will be released at 8:30 ET while the Philadelphia Fed Survey for October will cross the wires at 10:00 ET. Also of note, the September Treasury Budget (consensus $95.00 billion) will be released at 3:30 ET.

In U.S. corporate news of note:

Goldman Sachs (GS 177.93, -1.58): -0.9% in reaction to in-line results.
Netflix (NFLX 106.90, -3.33): -3.0% after reporting a one-cent miss and guiding Q4 earnings below analyst expectations.
UnitedHealth (UNH 123.50, +1.43): +1.2% in reaction to a one-cent beat on better than expected revenue.
Philip Morris International (PM 86.25, +1.77): +2.1% after beating estimates, narrowing its earnings guidance, and boosting its quarterly dividend to $1.02 from $1.00/share.
Fairchild Semiconductor (FCS 16.50, +0.15): +0.9% in reaction to in-line results.
Xilinx (XLNX 47.60, +2.22): +4.9% after beating bottom-line estimates and guiding Q3 towards the high end of estimates.

Reviewing overnight developments:

Asian markets ended higher. Japan's Nikkei +1.2%, Hong Kong's Hang Seng +2.0%, and China's Shanghai Composite +2.3%.
In economic data:
Japan's August Industrial Production revised to -1.2% month-over-month (expected -0.5%; prior -0.5%), Tertiary Industry Activity Index +0.1% month-over-month (expected 0.0%; prior +0.2%), and October Reuters Tankan Index 7.0 (prior 9.0)
China's New Loans CNY 1,050.0 bln (expected CNY 900.0 bln; prior CNY 809.6 bln) and M2 Money Stock +13.1% year-over-year (expected 13.1%; prior 13.3%
Australia's September Employment Change -5,100 (expected +5,000; prior +18,000), September Unemployment Rate 6.2% (expected 6.3%; prior 6.2%), September Participation rate 64.9% (expected 65.0%; prior 65.0%), September New Motor Vehicle Sales +5.5% (prior -1.6%), and MI Inflation Expectations 3.5% (prior 3.2%)
Singapore's August Retail Sales +5.0% month-over-month (expected +0.1%; prior -2.3%); +6.1% year-over-year (expected +1.6%; prior +5.2%)
In news:
The region-wide rally was bolstered by increased expectations that central banks in China and Japan would step in to provide additional monetary accommodation The Bank of Korea held its policy rate steady at 1.50%, as expected

Major European indices trade higher across the board. Germany's DAX +1.6%, France's CAC +1.2%, and UK's FTSE +1.1%. Elsewhere, Italy's MIB +1.6% and Spain's IBEX +0.5%.
Investors did not receive any economic data of note
In news:
Like the rally in Asia, the advance in Europe has been supported by expectations for more monetary easing after European Central Bank member Ewald Nowotny said that new measures are needed in order to boost core inflation in the eurozone

5:50 am: [BRIEFING.COM] S&P futures vs fair value: +12.00. Nasdaq futures vs fair value: +26.00.

5:50 am: [BRIEFING.COM] Nikkei...18096.90...+205.90...+1.20%. Hang Seng...22888.17...+448.30...+2.00%.

5:50 am: [BRIEFING.COM] FTSE...6332.11...+62.20...+1.00%. DAX...10053.85...+138.00...+1.40%.

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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