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 Post subject: December 7th Monday Trade Results - Profit $5437.50
PostPosted: Tue Dec 08, 2015 12:44 am 
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Joined: Sat Jan 10, 2009 2:06 pm
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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 @ $5437.50 dollars or +108.75 points, Light Crude Oil CL ($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 @ $5437.50 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=150&t=2237

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=278&t=2988 contains brief information about trading plan, market context, brokers, trading time frames, position size management and other discussions.

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Market Context Summaries

The below summaries by Bloomberg, Briefing, Reuters and Yahoo! Finance helps me to do a quick review of the fundamentals, FED/ECB/BOE/IMF actions or any important global economic events (e.g. Eurozone, MarketWatch.com) that had an impact on today's price action in many trading instruments I monitor during the trading day. Simply, I'm a strong believer that key market events causes key changes in supply/demand and volatility resulting in trade opportunities (swing points and strong continuation price actions) that reach profit targets. Thus, I pay attention to these key market events, intermarket analysis (e.g. Forex EurUsd, EuroFX 6E futures, Gold GC futures, Light Crude Oil (WTI) CL & Brent Oil futures, Eurex DAX futures, Euronext FTSE100 futures, Emini ES futures, Emini TF futures, Treasury ZB futures and U.S. Dollar Index futures) while using WRB Analysis from one trade to the next trade to give me the market context for price action trading before the appearance of my technical analysis trade signals. Therefore, I maintain these archives to allow me to understand what was happening on any given trading day in the past involving key market events to help better understand my trade decisions (day trading, swing trading, position trading)...something I can not get from my broker statements alone. Further, most financial websites remove (delete) their archives after a few years to make room for new content. Therefore, I maintain my own archives of the news content so that I have it available for me when financial websites no longer archives their content.

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click on the above image to view today's price action of key markets


4:10 pm: [BRIEFING.COM] The major averages began the trading week on a cautious note with the Dow (-0.7%), Nasdaq (-0.8%), and S&P 500 (-0.7%) registering comparable losses.

Equity indices retreated through the first two hours of the trading day and the lack of intraday bargain hunting kept the key averages near their lows into the afternoon. The S&P 500 erased a third of its advance from Friday, but managed to settle above its 200-day moving average (2,065).

Cyclical sectors were at the forefront of today's retreat with energy (-3.7%) diving to the bottom of the leaderboard at the start of the trading day. The growth-sensitive group accelerated its slide during the late morning as crude oil cracked a new low for the year, dipping beneath the $38.00/bbl mark. The energy component settled lower by 5.9% at $37.63/bbl after sliding from its overnight high near $39.75/bbl.

Similarly, the other commodity-related sector-materials (-1.8%)-also settled well behind the broader market while other cyclical groups posted slimmer losses. For instance, the industrial sector (-0.4%) ended ahead of the S&P 500 with airlines contributing to the relative strength. Delta Air Lines (DAL 51.78, +2.00) was a standout performer, spiking 4.0%, but the Dow Jones Transportation Average (-0.9%) settled behind the S&P 500 as losses in most DJTA components overshadowed gains in airline names.

Likewise, the consumer discretionary sector (-0.5%) ended ahead of the broader market with restaurant names showing general strength, which masked a 1.7% drop in the shares of Chipotle Mexican Grill (CMG 551.75, -9.45) after the company forecast a decline in Q4 comparable sales stemming from the recent E. coli incident. Furthermore, the stock was downgraded at Cowen and Guggenheim following the guidance update.

Meanwhile, the consumer staples sector (+0.3%) held a modest gain throughout the day, largely thanks to a 72.0% surge in Keurig Green Mountain (GMCR 88.89, +37.19) after the company agreed to be acquired by an investor group led by JAB Holding Company for $92/share, which translates to roughly $13.90 billion.

Similar to consumer staples, utilities (+0.3%) and telecom services (+0.6%) posted gains while the fourth countercyclical sector-health care (-0.6%)-could not make it out of the red.

Treasuries climbed throughout the morning to end the day near their highs with the 10-yr yield down four basis points at 2.23%.

Today's retreat invited above-average participation with more than 925 million shares changing hands at the NYSE floor.

Economic data was limited to the Consumer Credit report which showed a $16.00 billion increase in October, bolstered almost entirely by a $15.80 billion increase in nonrevolving credit. The Briefing.com consensus estimate expected consumer credit to increase by $18.60 billion. The change in September consumer credit was revised slightly lower to $28.50 billion from $28.90 billion.

Tomorrow's data will be limited to the October Job Openings and Labor Turnover Survey, which will be released at 10:00 ET.

Nasdaq Composite +7.7% YTD
S&P 500 +0.9% YTD
Dow Jones Industrial Average -0.5% YTD
Russell 2000 -3.0% YTD

3:35 pm: [BRIEFING.COM]

Commodities took a hit today, especially the energy space
WTI crude oil futures lost 5.9% to close at $37.63/barrel, which follows weakness from Friday's OPEC meeting
Jan nat gas lost 5%, on current weather outlooks, to close at $2.07/MMBtu
Metals posted more modest losses
Feb gold fell 0.8% today to close at $1075.30/oz, while Mar silver lost -1.2% to $14.35/oz
Mar copper traded -1.9% to $2.04/lb today

3:00 pm:

[BRIEFING.COM] The S&P 500 trades lower by 1.1% with one hour remaining in the session.

The Consumer Credit report for October was just released by the Federal Reserve and it showed an increase of $16.00 billion while the Briefing.com consensus expected growth of $18.60 billion. The prior month's credit growth was revised down to $28.60 billion from $28.90 billion.

2:25 pm:

[BRIEFING.COM] Recent action saw the S&P 500 (-0.9%) inch up off its low, but despite the uptick, the index remains closer to its low than the flat line.

Cyclical sectors remain entrenched in the red with energy (-4.0%) remaining behind its peers. Meanwhile, the countercyclical side has shown some life as the utilities sector (+0.3%) joins consumer staples (+0.2%) and telecom services (+0.4%) in the green. This leaves the health care sector (-0.8%), which trades well below its flat line with biotechnology contributing to the weakness. To that point, the iShares Nasdaq Biotechnology ETF (IBB 324.87, -6.85) is lower by 2.0%.

Despite today's decline, the health care sector remains higher by 0.2% for the month versus a 0.4% month-to-date decline in the S&P 500.

2:00 pm:

[BRIEFING.COM] Major indices are just above this morning's lows. The Dow, S&P, and Nasdaq all remain down nearly 1.0%. Early afternoon trading has been highlighted by continued weakness in the energy sector as oil moves to fresh six year low (WTI -5.5% at $37.78/bbl).

Major airlines seem to be making the most of this continued easing of oil prices, evidenced by the Dow Jones Transportation Average (-1.0%). All five airlines that comprise the DJTA trade in the green with JetBlue (JBLU 26.42, +0.94) and Delta Airlines (DAL 51.29, +1.51) trading higher by 3.7% and 3.0%, respectively. Meanwhile all the remaining DJTA components trade in the red.

Elsewhere, Treasuries remain near their highs with the 10-yr yields down five basis points at 2.22%.

1:35 pm:

[BRIEFING.COM] The major U.S. indices remain under heavy pressure to start the week, pulling back from Friday's rally.

A look inside the Dow Jones Industrial Average shows that Chevron (CVX 87.09, -2.62), Exxon Mobil (XOM 76.58, -2.28), and Caterpillar (CAT 68.13, -1.85) are underperforming. Chevron and Exxon are leading the Dow lower amid significant weakness in the energy sector as WTI crude oil futures drop over 5.5%.

Conversely, Wal-Mart (WMT 60.47, +0.81) is the best-performing Dow component, displaying relative strength as consumer staples outperform.

With the move lower, the DJIA has dropped back into negative territory for the year, and eliminated its December gains

1:00 pm:

[BRIEFING.COM] The major averages trade near their lows at midday after retreating steadily through the first half of the trading day. The S&P 500 is lower by 1.1% after marking a session low about 90 minutes ago.
Related Quotes

Equity indices began the day in the red and they have extended their opening losses with the bulk of the decline taking place due to significant weakness in the energy sector (-4.1%). The growth-sensitive group has endured a rough start to December, showing a month-to-date loss of 8.7% at this time.

The aggressive selling in the energy sector has not occurred in a vacuum. Instead, crude oil has lubricated the move, trading lower by 5.1% at $37.88/bbl today. Including today's loss, WTI crude is now down 9.1% in December as it hovers near its early August low ($37.75/bbl).

Similar to energy, the other commodity-related sector-materials (-2.1%)-trades well behind the broader market while other decliners display slimmer losses.

On the upside, telecom services (+0.1%) and consumer staples (+0.1%) hover just above their flat lines with the staples sector drawing strength from Keurig Green Mountain (GMCR 89.48, +37.78) as the stock surges 73.1% after agreeing to be acquired by an investor group led by JAB Holding Company for $92/share, which translates to roughly $13.90 billion.

Elsewhere, the other consumer sector-consumer discretionary (-0.8%)-hovers just ahead of the broader market thanks to gains among most restaurant names. That being said, Chipotle Mexican Grill (CMG 543.60, -17.60) has given up 3.0% after the company forecast a decline in Q4 comparable sales stemming from the recent E. coli incident. The stock was downgraded at Cowen and Guggenheim following the guidance update.

Staying in the discretionary space, Staples (SPLS 11.13, -1.23) is lower by 10.0% after the New York Post reported the company's planned merger with Office Depot (ODP 5.64, -0.99) will be blocked by the Federal Trade Commission.

Treasuries sit on their highs with the 10-yr yield down six basis points at 2.21%.

Investors have not received any data this morning, but the Consumer Credit report for October (Briefing.com consensus $18.60 billion) will be released at 15:00 ET.

12:30 pm:

[BRIEFING.COM] The major averages continue trolling near their lows with the S&P 500 (-0.9%) and the Dow (-0.9%) trading just behind the Nasdaq Composite (-0.8%).

The energy sector has been in focus throughout the day and the growth-sensitive group remains well behind its peers, trading lower by 4.2%. Interestingly, most of the remaining cyclical sectors have held up relatively well. To be fair, materials (-1.9%) and financials (-1.0%) underperform, but consumer discretionary (-0.6%), industrials (-0.5%), and technology (-0.7%) hold slimmer losses than the broader market.

Overall, the bulk of today's selling has taken place during the first two hours while recent trade has featured sideways action.

12:00 pm:

[BRIEFING.COM] Not much change to today's trading dynamic as the key indices sit near their worst levels of the day. The S&P 500 (-0.8%) hovers about eight points above its session low with all six cyclical sectors showing losses. Furthermore, three of six growth-sensitive groups trade behind the broader market with energy (-4.4%) remaining well behind its peers.

Today's sharp dive in the energy sector has coincided with selling in crude oil, but it is worth noting that the Dollar Index (98.65, +0.30) is higher by 0.3%, which has likely contributed to the weakness in the dollar-denominated commodity.

The continued weakness in stocks has been met with more buying in the Treasury market, which has pressured the 10-yr yield to a fresh low (-6 bps at 2.21%).

11:25 am:

[BRIEFING.COM] The major averages remain near their session lows with the energy sector (-4.6%) acting as the big anchor that has kept the market in the red since the opening bell. The S&P 500 trades lower by 1.1% while the Nasdaq (-0.9%) sits just ahead.

Given today's weakness, the energy sector is now back at levels last seen at the end of September. The sector is now unchanged for the quarter, which puts the group only ahead of the utilities sector, which has surrendered 3.1% since the end of Q3. On the flip side, the remaining eight sectors have climbed between 5.5% (telecom services) and 12.1% (technology) since the end of September.

With the market facing heavy pressure, consumer staples (+0.1%) and telecom services (+0.1%) have backed away from their highs, but they remain above their flat lines for the time being.

Elsewhere, Treasuries have marked new highs with the 10-yr yield down four basis points at 2.23%.

10:55 am:

[BRIEFING.COM] The stock market has faced continued selling pressure and the bulk of the weakness can be traced back to the energy sector, which now trades lower by 4.9% after showing significant weakness since the opening bell.

To be fair, the aggressive selling in the energy sector is largely due to crude oil, which trades down 4.7% at $38.11/bbl. Given today's selling, the energy component now sits just above its 2015 low that was notched in late August ($37.75/bbl).

Elsewhere, the remaining sectors have been dragged lower by the market, but only the materials space (-2.2%) trades with a loss larger than 0.9% at this time.

With stocks on lows, Treasuries trade on their highs with the 10-yr yield down two basis points at 2.25%.

10:35 am: [BRIEFING.COM]

The dollar traded flat overnight, before seeing a sharp lift higher in early trade. Momentum from last week's positive US payroll and unemployment data- in combination with increasing market confidence in a Dec. rate hike and a pull-back from the Euro's strong move last week- has been a primary driver of dollar movement.
The index is now +0.5% to 98.79
Crude has been under heavy selling pressure all morning, with WTI dropping well below the $39/barrel level following last week's OPEC meeting developments.
The meeting ended in relative disagreement about potential production cuts, and without the establishment of a production ceiling.
January WTI is now booking strong losses, at -4.5% to $38.19/barrel
Natural gas is also sustaining heavy losses, with near-term national weather forecasts that see unseasonably warm weather being a key catalyst for prices.
Nat gas is now -3.4% to $2.11/MMBtu
Metals are holding modest losses for the session, with gold, silver and copper all being pressed mainly by strength in the dollar.Gold is -0.9% to $1074.40/oz, silver is -1% to $14.38/oz, and copper is -1% to $2.06/lb

10:00 am:

[BRIEFING.COM] The major averages have added to their opening losses with the S&P 500 trading lower by 0.5%.

The energy sector (-3.2%) remains at the bottom of the leaderboard while the remaining five cyclical sectors show losses between 0.3% (industrials) and 1.4% (materials).

The early retreat in equities has been met with some demand for Treasuries, sending the 10-yr note to a fresh high. As a result, the benchmark yield is now down two basis points at 2.25%.

9:40 am:

[BRIEFING.COM] As expected, the major averages have gotten off to a sluggish start amid weakness in most sectors. The S&P 500 trades lower by 0.4% with nine groups showing opening losses.

The energy sector (-2.9%) has paced the opening decline with crude oil contributing to the weakness as the energy component trades lower by 3.0% at $38.77/bbl. Meanwhile, the other commodity-related sector-materials (-0.7%)-is the second-weakest performer while other groups hold slimmer losses.

On the upside, the consumer staples sector (+0.3%) trades ahead of its peers.

Elsewhere, Treasuries have erased their losses and they are now on their highs with the 10-yr yield down one basis point at 2.26%.

9:13 am: [BRIEFING.COM] S&P futures vs fair value: -4.40. Nasdaq futures vs fair value: +2.30.

The stock market is on track for a modestly lower start as S&P 500 futures trade four points below fair value after slipping from their pre-market highs. All in all, the pullback from early morning levels has been modest in scope considering futures on the benchmark index have bounced around an eleven-point range through the night.

This morning has been very quiet on the corporate front, but it is worth noting that shares of Keurig Green Mountain (GMCR 90.15, +38.45) have surged 74.4% in pre-market after the company agreed to be acquired by an investor group led by JAB Holding Company for $92/share, which translates to roughly $13.90 billion.

Elsewhere, Chipotle Mexican Grill (CMG 511.00, -50.20) is on track to open lower by 9.0% after the company forecast a decline in Q4 comparable sales stemming from the recent E. coli incident. The stock was downgraded at Cowen and Guggenheim following the guidance update.

Treasuries hover just below their flat lines with the 10-yr yield at 2.27%.

Today's economic data will be limited to the October Consumer Credit report (Briefing.com consensus $18.60 billion), which will be released at 15:00 ET.

8:53 am: [BRIEFING.COM] S&P futures vs fair value: -5.60. Nasdaq futures vs fair value: -2.50.

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

Markets in the Asia-Pacific region ended Friday mostly higher, with Friday's momentum carrying over into the new week. Japanese shares continued to track the US lead, gaining 1.0% on the day, and reclaiming roughly half of Thursday's losses in the Nikkei (recall, shares fell sharply on Friday after Thursday's weakness in the US). Gains did seem to be capped, with investors perhaps somewhat hesitant to initiate too much buying ahead of the nation's Q3 final GDP reading due out tomorrow (ie overnight in the States). Macro-data was light, while commentary from the BOJ's Kuroda and Japan's Finance Minister Taro Aso regarding the domestic outlook was fairly upbeat, but did little to influence the equity markets in any direction. China also saw subdued action, resulting in a slim gain of 0.3%. The most significant press item out of the Mainland last night was a report from a government think tank which suggested the pace of growth for next would be at least 6.5%, while inflation is forecast to rise 1.5%. This is on par with the most recent growth targets provided by the central government.

In economic data:
Japan's October Leading Index 102.9, as expected (previous 101.6) and Coincident Indicator +2.0% month-over-month (previous -0.3%). Separately, December Reuters Tankan Index 9 (previous 3)
Australia's November AIG Construction Index 50.7 (previous 52.1), November ANZ Job Advertisements +1.3% month-over-month (last 0.3%)

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Japan's Nikkei increased 1.0%. The index was off and running to the upside, trading over 1% in the first hour of trading. The market was locked down for majority of the session thereafter, with very tight range for the rest of the day. Among the best performing sectors today were IT (+1.7%), Staples (+1.4%), and Consumer Discretionary (+1.3%). Shares of Sharp managed to tally 0.8% for the session after reports suggest the co held discussions to divest part of one of its manufacturing facilities.
Hong Kong's Hang Seng saw a modest decline of 0.2%, after opening higher but unable to sustain gains before finishing at session lows. As would be expected considering the tug of war tape, the index was extremely mixed. With crude oil down roughly 1.5% overnight, the energy sector was notably weaker with the likes of CNOOC (-4.9%), SinoPec (-2.7%), and PetroChina (-2.1%) all underperforming the broader market. Gaming stocks were positive though, with Galaxy Ent up over 1.1%, while Sands China followed closely, gaining 0.8% for the day. Shares of China Vanke dropped 4.4% following reports that its largest shareholder was looking to let go of part of its stake.
China's Shanghai Composite gained 0.3% after a seesaw battle, while trading volume in Shanghai shrank to a one-month low. The trading volume in Shanghai shrank to a one-month low. The Shenzhen's ChiNext rose 1.8%, while healthcare names advanced 2.1%. Traditional Chinese drug maker, Beijing Tongrentang hit its 10% circuit breaker limit.

Major European indices trade higher across the board with Germany's DAX (+2.0%) in the lead. The euro has retreated overnight and is now on track for its second consecutive decline after spiking from 1.0600 to 1.0950 on Thursday. Currently, the single currency trades near 1.0805 against the dollar.

Economic data was limited:
Eurozone December Sentix Investor Confidence 15.7 (expected 17.0; previous 15.1)
Germany's October Industrial Production +0.2% month-over-month (expected 0.7%; previous -1.1%)

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Germany's DAX has climbed 1.9% amid broad strength. Exporter names lead the way with BMW, Daimler, and Continental up between 2.6% and 3.3%. Financials trade a bit behind the broader market with Deutsche Bank up 1.0% and Commerzbank higher by 0.1%.
In France, the CAC trades up 1.4% with all but three names trading in the green. Alstom is the top performer, climbing 3.9%, while financials AXA, BNP Paribas, Societe Generale, and Credit Agricole show gains between 0.4% and 2.8%. On the downside, Technip and Total hold respective losses of 2.2% and 0.4%.
UK's FTSE is higher by 0.3% with Rolls-Royce Holdings in the lead. The stock has spiked 3.5% while consumer names trade mixed. Carnival, ITV, and Unilever show gains close to 2.0% apiece while Kingfisher, Tesco, and WM Morrison Supermarkets are down between 1.2% and 2.0%.

8:27 am: [BRIEFING.COM] S&P futures vs fair value: -2.20. Nasdaq futures vs fair value: +1.80.

U.S. equity futures have backed away from their highs, but they remain above their lows for the time being. Meanwhile, European indices continue holding solid gains with Germany's DAX (+1.9%) showing relative strength.

Although futures have ticked down from their best levels of the morning, the same has not been the case with the Dollar Index (98.82, +0.45), which hovers near its high, trading up 0.5%. Most notably, the greenback has climbed 0.6% against the euro (1.0813) while the yen has held up relatively well, giving up 0.2% to the dollar (123.41).

7:54 am: [BRIEFING.COM] S&P futures vs fair value: +2.50. Nasdaq futures vs fair value: +8.80.

U.S. equity futures trade near their pre-market highs amid upbeat action overseas. The S&P 500 futures hover three points above fair value after hitting their highs around 4:45 ET.

Meanwhile, Treasuries hold slim losses with the 10-yr yield up one basis point at 2.28%.

Today will be very quiet on the economic front with data limited to the October Consumer Credit report (Briefing.com consensus $18.60 billion), which will be released at 15:00 ET.

In U.S. corporate news of note:

Chipotle Mexican Grill (CMG 509.50, -51.70): -9.2% after the company forecast a decline in Q4 comparable sales stemming from the recent E. coli incident. The stock was downgraded at Cowen and Guggenheim following the guidance update.
Eli Lilly (LLY 87.97, +1.35): +1.6% after the stock was upgrade to 'Buy' from 'Hold' at Deutsche Bank.

Reviewing overnight developments:

Asian markets ended mostly higher. Japan's Nikkei +1.0%, China's Shanghai Composite +0.3%, and Hong Kong's Hang Seng -0.2%
In economic data:
Japan's October Leading Index 102.9, as expected (previous 101.6) and Coincident Indicator +2.0% month-over-month (previous -0.3%). Separately, December Reuters Tankan Index 9 (previous 3)
Australia's November AIG Construction Index 50.7 (previous 52.1), November ANZ Job Advertisements +1.3% month-over-month (last 0.3%)
In news:
China's State Information Center expects the country's 2016 GDP to grow at least 6.5% with CPI hitting 1.5%, down from the 2015 forecast of 7.0% growth and 3.0% CPI increase

Major European indices trade higher across the board. Germany's DAX +2.2%, France's CAC +1.8%, and UK's FTSE +0.5%. Elsewhere, Italy's MIB +0.6% and Spain's IBEX +0.6%
Economic data was limited:
Eurozone December Sentix Investor Confidence 15.7 (expected 17.0; previous 15.1)
Germany's October Industrial Production +0.2% month-over-month (expected 0.7%; previous -1.1%)
Among news of note:
The euro has retreated overnight and is now on track for its second consecutive decline after spiking from 1.0600 to 1.0950 on Thursday. Currently, the single currency trades near 1.0805 against the dollar.

5:48 am: [BRIEFING.COM] S&P futures vs fair value: +3.80. Nasdaq futures vs fair value: +12.50.

5:48 am: [BRIEFING.COM] Nikkei...19698.15...+193.70...+1.00%. Hang Seng...22203.22...-32.70...-0.20%.

5:48 am: [BRIEFING.COM] FTSE...6271.52...+33.20...+0.50%. DAX...10950.89...+198.80...+1.90%.

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
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