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 Post subject: November 6th Friday Trade Results - Profit $7145.00
PostPosted: Fri Nov 06, 2015 6:41 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 @ $520.00 dollars or +5.20 points, Emini ES ($ES_F) futures @ $6625.00 dollars or +132.50 points, Light Crude Oil CL ($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 @ $7145.00 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=149&t=2213

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=277&t=2948 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 S&P 500 could not avoid its third consecutive decline on Friday as rising rate hike expectations weighed on equities. To be fair, the benchmark index missed a green close by 0.74 points while the Dow (+0.3%) and Nasdaq Composite (+0.4%) erased their opening losses.

Equities stumbled at the start after the October Employment report easily surpassed expectations, thus increasing the likelihood of a fed funds rate hike at the December policy meeting to 69.8% from yesterday's 58.1%. Specifically, October nonfarm payrolls came in at 271,000 while the Briefing.com consensus expected a reading of 181,000. Also of note, hourly earnings rose 0.4% while the consensus expected an uptick of 0.2%.

Once the report crossed the wires, investors rushed into the greenback while Treasuries and equity futures retreated. The Dollar Index (99.14, +1.21) held its ground to end the day higher by 1.2% near levels last seen in mid-April. As for Treasuries, the 10-yr note finished near its low with the benchmark yield rising ten basis points to 2.33%, representing the highest settlement since late July.

Similar to Treasuries, equities slumped in immediate reaction to the report, but unlike Treasuries, the stock market staged a rebound off its opening lows. Six sectors ended the day with losses while financials (+1.1%) and technology (+0.4%) outperformed throughout the day, helping the market return into the neighborhood of its flat line by the closing bell.

The financial sector rallied due to the rising probability of a December rate hike, extending this week's gain to 2.5%, which put the sector ahead of its peers. Meanwhile, the top-weighted tech space spent the day near its flat line with broad strength in the chipmaker space overshadowing a mixed performance from large cap sector components. To that point, the PHLX Semiconductor Index surged 2.6% with Skyworks (SWKS 85.99, +5.71) and NVIDIA (NVDA 31.55, +3.84) soaring 7.1% and 13.9%, respectively, in reaction to better than expected results.

On the downside, countercyclical sectors faced the most aggressive selling with consumer staples (-1.1%), telecom services (-0.7%), and utilities (-3.6%) ending at the bottom of the leaderboard. That being said, the energy sector (-0.4%) also finished among the laggards despite showing considerable strength earlier this week. The growth-sensitive group narrowed its weekly gain to 1.1% while crude oil surrendered 2.0% on Friday, ending the week lower by 4.8% at $44.29/bbl.

Today's participation was well ahead of average with more than 975 million shares changing hands at the NYSE floor.

Taking another look at today's employment data:

Nonfarm payrolls increased by 271,000 (Briefing.com consensus 181,000)
September nonfarm payrolls revised to 137,000 from 142,000
Private sector payrolls increased by 268,000 (Briefing.com consensus 160,000)
September private sector payrolls revised to 149,000 from 118,000
Unemployment rate slipped to 5.0% (Briefing.com consensus 5.1%) from 5.1% in September
The U6 unemployment rate, which accounts for the total unemployed plus persons marginally attached to the labor force and the underemployed, was 9.8% versus 10.0% in September
Average hourly earnings increased 0.4% (Briefing.com consensus 0.2%) after being unchanged in September
Over the last 12 months, average hourly earnings have risen 2.5% versus 2.3% in September, representing the highest year-over-year rate since July 2009
The labor force participation rate held at 62.4% for the second month in a row

On a separate note, the Consumer Credit report for September showed an increase of $28.90 billion while the Briefing.com consensus expected growth of $18.00 billion. It is worth noting that the September reading represented the biggest jump in non-revolving credit since July 2011.

Monday's session will be free of economic data.

Nasdaq Composite +8.5% YTD
S&P 500 +1.8% YTD
Dow Jones Industrial Average +0.3% YTD
Russell 2000 -0.4% YTD

Week in Review: Nasdaq Leads Stocks Higher

The stock market rallied to begin November with the Nasdaq Composite setting the pace. The tech-heavy index surged 1.5% while the S&P 500 (+1.2%) followed right behind. Equity indices started the trading day on an inconspicuous note after the overnight session featured some mixed economic data. In China, October Manufacturing PMI missed expectations (49.8; expected 50.0) while final Caixin PMI improved to 48.3 from 47.6, but remained below 50.0, indicating continued contraction. Asian markets ended the day on a broadly lower note, but the investor sentiment improved after European participants joined the fray and the market was treated to mostly better than expected PMI readings from regional economies. The eurozone Manufacturing PMI improved to 52.3 from 52.0 (expected 52.0), helping lift European markets off their opening lows. Once the U.S. session got going, an opening trot higher turned into a daylong charge paced by energy and biotechnology as both groups built on their October gains. Biotech names wasted no time, rallying from the opening bell to send the iShares Nasdaq Biotechnology ETF (IBB 338.06, +12.60) higher by 3.9%. For its part, the health care sector spiked 2.1%, but the group was overtaken by the energy sector (+2.4%) during the afternoon.

Stocks registered their second consecutive advance on Tuesday with the S&P 500 climbing 0.3%. The benchmark index settled a bit behind the Nasdaq Composite (+0.4%) and the Dow Jones Industrial Average (+0.5%) with cyclical sectors pacing the advance. Equity indices saw modest losses at the start of the trading day, but the market was able to overcome the early weakness thanks to continued leadership from the energy sector as the growth-sensitive group surged 2.5% to extend its weekly gain to 5.0%. The Tuesday rally was powered by a 3.8% spike in crude oil, which settled at $47.90/bbl, while top-weighted components like Chevron (CVX 98.14, +3.18) and ExxonMobil (XOM 86.83, +1.55) posted respective gains of 3.4% and 1.8%.

The market snapped its two-day streak on Wednesday, but the midweek pullback was fairly modest in scope. The S&P 500 shed 0.3% while the Nasdaq Composite (-0.1%) outperformed, settling just below its flat line. Equity indices began the day on a modestly higher note, but the slight early strength faded quickly, sending the major averages into the red during the opening hour. In addition, investors heard from Fed Chair Janet Yellen who addressed the House Financial Services Committee to discuss regulation and supervision of financial institutions; however, the Q&A portion drifted towards questions about the upcoming December policy meeting with Fed Chair Yellen reiterating that a rate hike could happen in December if economic data shows improvement. Eight sectors ended the day in negative territory with energy (-1.0%) spending the bulk of the session behind the remaining nine groups. It is worth noting that the slide followed a 5.0% gain over the previous two days and the sector also had to contend with selling in the commodity market where crude oil fell 3.4%, ending the pit session at $46.32/bbl.

Equity indices posted their second consecutive decline on Thursday with the S&P 500 shedding 0.1% while the Nasdaq Composite (-0.3%) underperformed. Broadly speaking, the Thursday affair was fairly quiet, but that was not particularly surprising considering investors were set to receive the Employment Situation report for October on Friday morning. Biotechnology was largely responsible for Thursday's relative weakness in the tech-heavy Nasdaq with Valeant Pharmaceuticals (VRX 78.77, -13.21) back in focus, diving 14.4%, amid continued concerns about the company's revenue recognition practices.

3:35 pm: [BRIEFING.COM]

Commodities remains weak today following surge in the dollar index this morning, which came on the jobs data
Gold, silver and copper are sitting near today's low
Dec gold finished the day -1.5% at $1087.80/oz, while Dec silver ended -1.8% at $14.71/oz
Oil futures lost steam today, closing 2.1% lower at $44.32/barrel (Dec)
Dec nat gas, on the other hand, rose 0.4% to close at $2.37/lb

3:00 pm:

[BRIEFING.COM] The S&P 500 trades lower by 0.3% with one hour remaining in the session.

The Consumer Credit report for September was just released by the Federal Reserve and it showed an increase of $28.90 billion while the Briefing.com consensus expected growth of $18.00 billion. The prior month's credit growth was left unrevised at $16.00 billion.

2:25 pm:

[BRIEFING.COM] Recent action saw the S&P 500 narrow its loss to 0.2% while the Dow (+0.1%) and Nasdaq (+0.2%) are back in the green.

The Nasdaq has continued drawing support from high-beta chipmaker names with the PHLX Semiconductor Index trading higher by 2.4% at this juncture. Meanwhile, the broader technology sector trades up 0.2% with large cap names like Apple (AAPL 121.01, +0.09) and Alphabet (GOOGL 759.02, -1.65) trading in mixed fashion.

On the downside, three sectors continue holding losses of 1.0% or more with utilities (-3.6%) remaining at the bottom of the leaderboard.

The September Consumer Credit report (consensus $18.00 billion) will cross the wires at 15:00 ET.

2:00 pm:

[BRIEFING.COM] Not much change in the market with the S&P 500 (-0.3%) bouncing inside a narrow trading range that has held since about 10:30 ET. Seven sectors remain in negative territory while the materials space (+0.1%) has joined technology (+0.3%) and financials (+1.1%) in the green.

Investors have received a boatload of earnings this week and Monday will be fairly busy with more than 50 listings set to report their results before the opening bell. Meanwhile, the afternoon will feature roughly 86 quarterly reports, but things will slow down considerably on Tuesday.

As for Monday morning, investors will receive results from the likes of DISH Network (DISH 63.03, -0.32), Hertz Global (HTZ 18.55, +0.51), Priceline (PCLN 1441.50, -21.14), and Dean Foods (DF 17.64, -0.93) while the afternoon will be headlined by Caesars Entertainment (CZR 8.86, +0.02), Rackspace (RAX 27.95, +0.63), and SunEdison (SUNE 7.62, +0.13).

1:35 pm:

[BRIEFING.COM] The major U.S. indices have worked their way back to base levels since our last update, and are now mixed as the Nasdaq has moved into positive territory.

A look inside the Dow Jones Industrial Average shows that Chevron (CVX 92.75, -1.80), UnitedHealth Group (114.16, -2.07), and Procter & Gamble (PG 75.29, -1.10) are under performing. Chevron is weaker as the energy sector drags, with crude oil futures again trading lower.

Conversely, Goldman Sachs (GS 197.47, +5.44) is the best-performing Dow component as financials rally after treasury yields jump following this morning's economic data, which suggests the Fed will move ahead with a rate hike before 2016.
Related Quotes

Nearing the end of the day, the DJIA has gained 1.05% this week, and remains in positive territory for the year

12:55 pm:

[BRIEFING.COM] The major averages hover in the red at midday with the S&P 500 trading lower by 0.5% while the Dow (-0.3%) and Nasdaq Composite (unch) sit closer to their flat lines.

Equity indices headed lower at the start of today's session in reaction to the October Employment Situation report, which sailed past estimates. To that point, October nonfarm payrolls came in at 271,000 while the Briefing.com consensus expected a reading of 181,000. Also of note, hourly earnings rose 0.4% while the consensus expected an uptick of 0.2%.

The Employment report was met with an immediate surge in the dollar while Treasuries and equity futures retreated. The Dollar Index (99.23, +1.29) remains near its best level of the session, trading higher by 1.3%, while Treasuries sit just above their lows with the 10-yr yield up ten basis points at 2.33%. Also of note, fed fund futures now indicate a 69.8% probability of a rate hike in December, up from yesterday's 58.1%.

Eight of ten sectors sport midday losses while financials (+0.7%) and technology (unch) have shown relative strength since the early going. The financial sector has responded positively to the rising rate hike expectations, extending this week's gain to 2.4%.

As for technology, the top-weighted sector has been boosted by a handful of semiconductor names after Skyworks (SWKS 86.16, +5.88) and NVIDIA (NVDA 31.82, +4.11) reported better than expected results. The two names have spiked 7.3% and 14.8%, respectively, while the PHLX Semiconductor Index has climbed 2.3%.

On the downside, nine sectors hold losses between 0.5% (consumer discretionary and industrials) and 3.7% (utilities). The utilities sector has underperformed since the start in reaction to today's spike in Treasury yields.

Elsewhere among countercyclical sectors, health care trades lower by 0.9% while biotechnology has fared a bit better with iShares Nasdaq Biotechnology ETF (IBB 331.19, +0.05) hovering just above its flat line.

Taking another look at today's employment data:

Nonfarm payrolls increased by 271,000 (Briefing.com consensus 181,000)
September nonfarm payrolls revised to 137,000 from 142,000
Private sector payrolls increased by 268,000 (Briefing.com consensus 160,000)
September private sector payrolls revised to 149,000 from 118,000
Unemployment rate slipped to 5.0% (Briefing.com consensus 5.1%) from 5.1% in September
The U6 unemployment rate, which accounts for the total unemployed plus persons marginally attached to the labor force and the underemployed, was 9.8% versus 10.0% in September
Average hourly earnings increased 0.4% (Briefing.com consensus 0.2%) after being unchanged in September
Over the last 12 months, average hourly earnings have risen 2.5% versus 2.3% in September, representing the highest year-over-year rate since July 2009
The labor force participation rate held at 62.4% for the second month in a row

The September Consumer Credit report (consensus $18.00 billion) will cross the wires at 15:00 ET.

12:25 pm:

[BRIEFING.COM] The S&P 500 (-0.4%) has spent the past 90 minutes inside a five-point range.

Sector standing has not changed much with financials (+0.8%) and technology (+0.2%) remaining well ahead of their peers; however, it is worth noting that both groups have ticked down from their best levels of the day.

Despite today's decline, the S&P 500 remains on track to end the week higher by 0.6%, which would represent the sixth consecutive weekly gain for the benchmark index.

With regard to individual sectors, financials and technology are on track to end the week with respective gains of 2.4% and 1.5% while the energy sector is tracking a weekly gain of 1.5% after being up 5.0% for the week at its highest point on Tuesday.

12:00 pm:

[BRIEFING.COM] Recent action saw the Nasdaq Composite (+0.2%) extend to a fresh session high while the S&P 500 (-0.4%) remains below its flat line.

The uptick in the Nasdaq has coincided with some buying interest in the biotech space that has lifted the iShares Nasdaq Biotechnology ETF (IBB 331.71, +0.57) above its flat line after spending the early action in negative territory. Notably, the ETF has reclaimed its 50-day moving average (326.40) after dipping below that mark earlier. For its part, the broader health care sector (-0.8%) remains among the laggards.

Elsewhere, Treasuries remain just above their session lows with the 10-yr yield up ten basis points at 2.33%.

11:25 am:

[BRIEFING.COM] Not much change in the market with the S&P 500 trading lower by 0.6%.

Eight sectors remain in negative territory while financials (+1.0%) and technology (+0.2%) have ticked down from their recent levels. The two groups deserve attention going into the afternoon considering they account for 37.0% of the entire market.

On the downside, the eight decliners show losses between 0.3% (consumer discretionary) and 4.4% with the utilities sector trading well behind its peers due to today's spike in Treasury yields that has reduced the relative attractiveness of utility stocks.

10:55 am:

[BRIEFING.COM] Equity indices have climbed off their session lows with the S&P 500 trimming its loss to 0.3% while the Dow and Nasdaq hover just above their flat lines.

The financial sector (+1.2%) continues holding the bulk of its early gain while the top-weighted tech sector is now up 0.5%, which has helped the market recover a portion of its decline. High-beta semiconductor names have paced the advance in the tech sector with NVIDIA (NVDA 31.82, +4.11) and Skyworks (SWKS 85.41, +5.13) holding respective gains of 14.8% and 6.4% in reaction to better than expected results. For its part, the PHLX Semiconductor Index has spiked 2.3%.

Elsewhere, Treasuries have extended their losses with the 10-yr yield now up 11 basis points at 2.34%.

10:30 am: [BRIEFING.COM]

The release of US employment date this morning has been an enormous catalyst for the dollar and commodities so far this session
Non-farm payrolls were substantively strong (271K vs. 181K consensus), the unemployment rate dropped to 5% (from 5.1%) and hourly earnings increased 0.4%
The in-unison strong employment data gave credence to a near-term rate hike by the Fed, giving the dollar a nice rally (from modestly positive overnight) while putting heavy selling pressure on most commodities. The dollar is now +1.2% to 99.24
Precious metals trended modestly positive before the dollar's rally, but saw a heavy sell-off upon release of the data and both gold/silver are both now holding heavy losses
Gold is now -1.5% to $1087.40/oz and silver is -1.6% to $14.74/oz
Oil is also trading down on the morning's data, but is also being peripherally affected by expectations for this afternoon's Baker Hughes data and commentary from OPEC, which indicated the cartel would likely continue to hold production even if non-member's aren't willing to cut their supplies.
December WTI is currently near its LoD at -1.8% to $44.37/barrel
Natural gas is being pressed lower on an interplay between slightly cooler weather in the Western US and warm-fronts in the Northeast and Midwest.
December nat gas is currently booking losses at -1.4% to $2.33/MMBtu
Copper is moderately down at -0.5% to $2.24/lb

9:55 am:

[BRIEFING.COM] The S&P 500 (-0.4%) has ticked to a fresh low as losses in eight of ten sectors overshadow a solid gain in the financial sector (+1.2%), which is now higher by 2.8% for the week, trading well ahead of its peers.

Elsewhere, the energy sector was up 5.0% for the week after Tuesday's close, but the growth-sensitive group has not been able to hold its ground. The sector trades lower by 1.1% today, trimming this week's gain to 1.7%. On a related note, crude oil has surrendered 1.0%, sliding to $44.74/bbl with the Dollar Index (99.16, +1.22) presenting a headwind to commodities.

Treasuries remain near their lowest levels of the morning with the 10-yr yield up nine basis points at 2.33%.

9:40 am:

[BRIEFING.COM] As expected, the major averages began the trading day in the red, but they have been quite resilient in the early going. The S&P 500 hovers just below its flat line while the Dow Jones (+0.1%) outperforms.

Seven sectors display opening losses, but their weakness has been masked by a 1.7% surge in financials as bank shares benefit from the rising expectations that the Fed will hike the fed funds rate at the December meeting.

On the flip side, the utilities sector (-2.1%) is the weakest performer in response to higher yields. To that latter point, the 10-yr note sits on its low with the benchmark yield higher by eight basis points at 2.32%.

Also of note, the Dollar Index (99.13, +1.20) is higher by 1.2%, hovering near its best level of the session, which represents the highest mark since mid-April.

9:10 am: [BRIEFING.COM] S&P futures vs fair value: -10.40. Nasdaq futures vs fair value: -19.90.

The stock market is on track for a lower open with S&P 500 futures trading ten points below fair value. Index futures spent the bulk of the night near their flat lines, but slid to lows in reaction to the October Employment Situation report, which came in well ahead of expectations. Specifically, October nonfarm payrolls came in at 271,000 while the Briefing.com consensus expected a reading of 181,000. Also of note, hourly earnings rose 0.4% while the consensus expected an uptick of 0.2%.

The solid report was met with a spike in the dollar while stocks and Treasuries have stumbled. Altogether, the reaction was indicative of a market that is preparing for a fed funds rate hike as early as the December meeting. To that point, the probability of a December hike has increased to 71.7%, according to fed funds futures.

One more data point will be released later today with the September Consumer Credit report (consensus $18.00 billion) set to cross the wires at 15:00 ET.

On the corporate front, DreamWorks Animation (DWA 22.44, +2.23) and NVIDIA (NVDA 30.03, +2.32) are on track to open with respective gains of 11.0% and 8.3% in reaction to better than expected results while Men's Wearhouse (MW 24.82, -15.34) has plunged 38.3% after cutting its guidance.

Treasuries sit near their lows with the 10-yr yield up eight basis points at 2.31%.

8:55 am: [BRIEFING.COM] S&P futures vs fair value: -7.80. Nasdaq futures vs fair value: -13.70.

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

The Asian equity markets closed mixed heading into the final day of the week and all-important Non-Farm Payrolls release. The markets were extremely tame with light volumes, but the Nikkei managed to extend gains for a 5th straight day, finishing up 0.8% for the session. The BOJ's Kuroda continued to reiterate his stance that the central bank is willing to do what's necessary to obtain the 2% inflection objective, while maintaining the notion that the current measures are currently adequate. This may have been validated by a couple of economic data points released last night. Both the September Leading and Coincident Indexes that came in above expectations. China closed out the week with some follow on momentum as well, with the Shanghai closing nearly 2% higher. There were no significant macro news out of the Mainland, but there were comments by China's premier that indicated the movement to a more investment type growth model is difficult process to implement. Furthermore, a local press report highlighted the rise of NPLs in several of the top Chinese Provinces.

In economic data:
Japan's September Preliminary Leading Index 101.4 (expected 102.1; prior 103.5) and September Coincident Indicator -0.3% month-over-month (prior -0.6%)
Australia's October AIG Construction Index 52.1 (prior 51.9)

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Japan's Nikkei increased 0.8%. The Nikkei had been modestly lower earlier in the day in the wake of the NFP release later today. The indexes strong finish to the week was led by Health Care (+1.2%), Utilities (+1.7%), Financials (+1.2%), with only the Energy sector closing negative, down 0.8%. Stock specifically, Yamada Denki was better by 5.8% after it released its H1 results.
Hong Kong's Hang Seng declined 0.8% and finished close to the lows of the session, with the sentiment feeling like much profit taking heading into the headline risk event. Trading in the afternoon was accented by a steady downtrend in the market, with losses in the auto groups weighing on the index. Geely Automobile Holdings finished the session with a 2.7% loss after the company reported October sales.
China's Shanghai Composite posted a solid 1.9% day. With no macro data to speak of, the index was led by better than expected October sales results from some Consumer Discretionary cos like SAIC Motor Corp (+10.0%), while brokerage names such as Everbright Securities (6.8%), GF Securities (+3.4%) and China Merchants Securities (+2.7%) all outpaced the benchmark.

Major European indices trade mostly lower with Germany's DAX (+0.7%) showing relative strength. On a separate note, the British pound has extended yesterday's decline following a dovish policy statement from the Bank of England and comments from Governor Mark Carney with rate hike expectations shifting past 2016. The pound has surrendered 1.2% against the dollar today, trading near 1.5035 at this juncture.

Economic data was plentiful:
Germany's September Industrial Production -1.1% month-over-month (expected 0.5%; prior -0.6%)
UK's September Industrial Production -0.2% month-over-month (expected -0.1%; prior 0.9%); +1.1% year-over-year (consensus 1.3%; previous 1.8%). Separately, September Manufacturing Production +0.8% month-over-month (expected 0.4%; previous 0.4%); -0.6% year-over-year (consensus -0.9%; last -0.9%). Also of note, September trade deficit narrowed to GBP9.35 billion (expected deficit of GBP10.60 billion; previous deficit of GBP10.79 billion).
France's September Trade Balance -EUR3.40 billion (expected -EUR3.10 billion; previous -EUR3.0 billion) while government budget deficit narrowed to EUR74.50 billion from EUR89.70 billion in September.
Spain's September Industrial Production +3.8% year-over-year (consensus 2.8%; prior 2.8%).

------

UK's FTSE hovers just below its flat line with roughly half of its components trading in the red. Miners and consumer names lag with BHP Billiton, Glencore, Burberry, and Sainsbury down between 0.4% and 6.0%. On the upside, airlines outperform with International Consolidated Airlines, easyJet, and TUI up between 1.1% and 3.0%.
France's CAC remains lower by 0.3% after trimming a portion of its loss. Sanofi is the weakest performer, trading lower by 6.0% in reaction to cautious guidance. Consumer names also lag with Louis Vuitton, Pernod Ricard, Danone, and L'Oreal down between 0.8% and 3.1%. On the flip side, Societe Generale has climbed 2.5% and BNP Paribas trades up 1.5%.
Germany's DAX outperforms with a gain of 0.7% thanks to broad strength. Exporters lead with BMW and Daimler up 2.5% and 1.9%, respectively, while Deutsche Bank is higher by 0.6%.

8:30 am: [BRIEFING.COM] S&P futures vs fair value: -7.20. Nasdaq futures vs fair value: -16.00.

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

October nonfarm payrolls came in at 271,000 while the Briefing.com consensus expected a reading of 181,000. The prior month's reading was revised down to 137,000 from 142,000. Nonfarm private payrolls added 268,000 against the 160,000 expected by the consensus. The unemployment rate slipped to 5.0% from 5.1%, while the Briefing.com consensus expected no change at 5.1%.

Hourly earnings rose 0.4% while the consensus expected an uptick of 0.2%. The average workweek was reported at 34.5, which is what the consensus expected.

7:57 am: [BRIEFING.COM] S&P futures vs fair value: -0.20. Nasdaq futures vs fair value: +4.50.

U.S. equity futures trade little changed amid cautious action overseas; however, the current standing is all but sure to change within the next 30 minutes once the October Employment Situation report crosses the wires at 8:30 ET. The Briefing.com consensus expects the report to reveal the addition of 181,000 payrolls while hourly earnings are expected to have increased 0.2% in October.

One more data point will be released later today with the September Consumer Credit report (consensus $18.00 billion) set to cross the wires at 15:00 ET.

Similar to stocks, Treasuries are flat with the 10-yr yield at 2.23%.

In U.S. corporate news of note:

Disney (DIS 112.61, -0.39): -0.4% despite beating bottom-line estimates.
NVIDIA (NVDA 30.40, +2.69): +9.7% after beating estimates and guiding Q4 revenue above analyst expectations.
Shake Shack (SHAK 54.31, +3.20): +6.3% in reaction to better than expected earnings and upbeat guidance.
Humana (HUM 179.50, +0.45): +0.3% after beating earnings expectations on below-consensus revenue.
TripAdvisor (TRIP 75.12, -7.99): -9.6% after missing estimates and receiving a downgrade from Guggenheim.

Reviewing overnight developments:

Asian markets ended mixed. China's Shanghai Composite +1.9%, Japan's Nikkei +0.8%, and Hong Kong's Hang Seng -0.8%
In economic data:
Japan's September Preliminary Leading Index 101.4 (expected 102.1; prior 103.5) and September Coincident Indicator -0.3% month-over-month (prior -0.6%)
Australia's October AIG Construction Index 52.1 (prior 51.9)
In news:
Reserve Bank of Australia's latest quarterly policy statement lowered the 2015 GDP growth forecast to 2.25% from 2.50% and cut the 2017 outlook to a range of 3.0-4.0% from 3.0-4.5% while keeping the 2016 forecast unchanged at 2.5-3.5%. Also of note, the 2015 inflation forecast was lowered to 2.0% from 2.5% while inflation expectations for 2016 and 2017 remain unchanged at 2.0-3.0%.

Major European indices trade mostly lower. France's CAC -0.8%, Germany's DAX -0.1%, and UK's FTSE -0.1%. Elsewhere, Spain's IBEX -0.8% and Italy's MIB +0.3%
Participants received several data points:
Germany's September Industrial Production -1.1% month-over-month (expected 0.5%; prior -0.6%)
UK's September Industrial Production -0.2% month-over-month (expected -0.1%; prior 0.9%); +1.1% year-over-year (consensus 1.3%; previous 1.8%). Separately, September Manufacturing Production +0.8% month-over-month (expected 0.4%; previous 0.4%); -0.6% year-over-year (consensus -0.9%; last -0.9%). Also of note, September trade deficit narrowed to GBP9.35 billion (expected deficit of GBP10.60 billion; previous deficit of GBP10.79 billion).
France's September Trade Balance -EUR3.40 billion (expected -EUR3.10 billion; previous -EUR3.00 billion) while government budget deficit narrowed to EUR74.50 billion from EUR89.70 billion in September.
Spain's September Industrial Production +3.8% year-over-year (consensus 2.8%; prior 2.8%).
Among news of note:
The British pound has extended yesterday's decline following a dovish policy statement from the Bank of England and comments from Governor Mark Carney with rate hike expectations shifting past 2016. The pound has surrendered 0.6% against the dollar today, trading near 1.5125 at this juncture

5:54 am: [BRIEFING.COM] S&P futures vs fair value: -1.80. Nasdaq futures vs fair value: +0.80.

5:54 am: [BRIEFING.COM] Nikkei...19265.60...+149.20...+0.80%. Hang Seng...22867.33...-183.70...-0.80%.

5:54 am: [BRIEFING.COM] FTSE...6366.60...+1.70...+0.00%. DAX...10861.70...-26.00...-0.20%.

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

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

http://www.thestrategylab.com
Phone: +1 708 572-4885
Business Hours: 8am - 5pm est (Mon - Fri)
Skype Messenger: kebec2002
wrbanalysis@gmail.com


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