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 Post subject: December 10th Thursday Trade Results - Profit $2100.00
PostPosted: Thu Dec 10, 2015 11:20 pm 
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Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Business Hours: 8am - 5pm est (Mon - Fri)
wrbanalysis@gmail.com (24/7)
http://twitter.com/wrbtrader (24/7)

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click on the above image to view today's performance verification

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $0.00 dollars or +0.00 points, Emini ES ($ES_F) futures @ $2100.00 dollars or +42.00 points, Light Crude Oil CL ($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 @ $2100.00 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=150&t=2240

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 stock market ended Thursday on a higher note, putting an end to its three-day skid. The S&P 500 climbed 0.2%, but could not hold posture above its 50-day moving average (2,054). Meanwhile, the Dow (+0.5%) and Nasdaq (+0.4%) settled ahead of the benchmark index.

The Thursday advance did not occur without some theatrics as the S&P 500 marked a morning high during the first 90 minutes of the day and followed that with a return to its flat line. The benchmark index charged to a fresh high in the early afternoon, but backtracked from that level to end in the lower third of today's range.

Equity indices spent the first hour of action near their flat lines, but the energy sector (+0.6%) displayed relative strength from the start, which underpinned today's advance. The sector narrowed this week's loss to 3.2%, ending in the lead even though crude oil fell 1.0% to $36.80/bbl. The energy component continued sliding in electronic trade, which forced some backtracking in the sector. It is worth noting that the prolonged weakness in oil prices prompted Chevron (CVX 89.30, +1.70) and ConocoPhillips (COP 49.22, +0.75) to cut their respective capital expenditure budgets for 2016 by 24.0% and 25.0%, respectively.

The energy sector was the only pocket of strength in the early going, but the growth-sensitive group held its ground even as the S&P 500 retreated from its opening high during the early afternoon. The benchmark index approached its flat line around 12:15 ET, but did not dip below its opening levels thanks to late morning strength in high-beta groups. Specifically, biotechnology, chipmakers, and transport stocks got off to a sluggish start, but all three areas settled ahead of the broader market, which contributed to the afternoon push to a fresh session high.

The iShares Nasdaq Biotechnology ETF (IBB 329.41, +4.21) spiked 1.3% while the broader health care sector gained 0.8%, narrowing this week's loss to 0.6%. Elsewhere, the Dow Jones Transportation Average climbed 0.6% with airlines rebounding from recent weakness, helping the industrial sector (+0.5%) end among the leaders.

For its part, the PHLX Semiconductor Index gained 0.6% with all but eight components ending in the green; however, that strength was overshadowed by a mixed showing from large cap members of the technology sector (+0.2%).

On the downside, materials (-0.8%) and utilities (-1.7%) spent the day in negative territory with the materials space pulling back after yesterday's 3.1% surge.

Treasuries spent the day inside narrow ranges, slipping to lows just ahead of the close. The 10-yr note settled on its low with the benchmark yield rising two basis points to 2.23%.

Today's participation was relatively light with fewer than 850 million shares changing hands at the NYSE floor.

Economic data included Initial Claims, Import/Export Prices, and Treasury Budget:

Initial claims for the week ending December 5 increased by 13,000 to 282,000 (Briefing.com consensus 269,000) while continuing claims for the week ending November 28 jumped by 82,000 to 2.243 million (Briefing.com consensus 2.167 million)
There were no special factors influencing initial claims, which have remained bounded between 250,000 and 300,000 since July 2014
Export prices, excluding agriculture, decreased 0.6% in November after decreasing 0.3% in the prior reading
Excluding oil, import prices decreased 0.3%, which followed last month's decrease of 0.3%
The November Treasury Budget showed a deficit of $64.60 billion
The Treasury data are not seasonally adjusted, so the November deficit cannot be compared to the October deficit of $136.50 billion
Total receipts in November were $205.00 billion while total outlays were $269.50 billion
Receipts were $13.50 billion more than November 2014 receipts while total outlays were $21.30 billion more than November 2014

Tomorrow, November CPI (Briefing.com consensus +0.1%) and November Retail Sales (consensus +0.3%) will be reported at 8:30 ET while October Business Inventories (expected +0.1%) and the preliminary reading of the Michigan Sentiment Index for December (consensus 91.6) will both be released at 10:00 ET.

Nasdaq Composite +6.5% YTD
S&P 500 -0.3% YTD
Dow Jones Industrial Average -1.4% YTD
Russell 2000 -4.3% YTD

3:10 pm: [BRIEFING.COM]

The dollar rallied higher all session, seeing only a brief pause following the release of underwhelming US unemployment and import/export price data
Heading into the commodity closes, the index continued to trend higher and is now near its HoD at +0.6% to 97.96
Crude fell below the flat-line in early trade- pressed by the stronger dollar and mixed interpretations of OPEC's December Monthly Oil Report.
WTI gradually extended that sell-off into the close, finishing the day at losses of -1% to $36.80/barrel
Natural gas spiked to moderate positives early in the session (following a larger-than-expected build of 76 bcf), but failed to hold those gains in subsequent trading.
The January contract slumped back to strong losses shortly after the initial spike, which it held into the close. Nat gas ended -1.9% to $2.02/MMBtu
Precious metals fell to the consistently strengthening dollar, with gold closing -0.4% to 1072.20/oz and silver finishing -0.4% to $14.12/oz
Copper trended in a moderate range all session on a lack of immediate catalysts, closing at $2.07/lb

2:55 pm:

[BRIEFING.COM] The S&P 500 trades higher by 0.8% with one hour remaining in the trading day.

The benchmark index has made its way to a fresh session high amid relatively quiet afternoon action. Sector standing has not changed much with energy (+1.6%), health care (+1.3%), and industrials (+1.1%) trading comfortably ahead of the broader market.

Thanks to today's advance, the S&P 500 has put a dent in this week's decline, which puts the index on track to enter the Friday session with a week-to-date loss of 1.3%.

The advance in stocks has been accompanied by a slide in Treasuries. The 10-yr note is on track to end the day on its low with the benchmark yield up two basis points at 2.24%.

2:25 pm:

[BRIEFING.COM] The major averages have crawled back into the neighborhood of their session highs with the S&P 500 (+0.7%) trading about two points below its best level of the day.

Sector standing has not changed much with energy (+1.6%) remaining in the lead while most other groups sport slimmer gains. Earlier we pointed out that influential sectors like financials (+0.7%), consumer discretionary (+0.6%), and technology (+0.7%) have kept pace with the broader market and that remains the case at this time.

Elsewhere, Treasuries sit on their lows with the 10-yr yield up two basis points at 2.23%.

2:00 pm:

[BRIEFING.COM] The S&P 500 trades higher by 0.5%.

The Treasury Budget statement for November was just released and it showed a deficit of $65.00 billion. The Treasury data are not seasonally adjusted so the November deficit cannot be compared to the $136.00 billion deficit recorded in October.

1:35 pm:

[BRIEFING.COM] The major U.S. indices have pushed slightly higher in recent trade as stocks float just south of their intra-day highs in a quiet trade.

A look inside the Dow Jones Industrial Average shows that Chevron (CVX 89.42, +1.82), Boeing (BA 146.47, +2.23), and UnitedHealth Group (UNH 116.70, +1.65) are outperforming. Chevron is higher after announcing its FY16 capital budget, as well as seeing general strength in tandem with the entire energy sector. Chevron's 2016 capital and exploratory investment program of $26.6 bln is down 24% y/y.

Conversely, Dupont (DD 73.26, -1.23) is the worst-performing Dow component as shares pull back following yesterday's surge on reports it was in talks to merge with Dow Chemical. Citing sources, CNBC's David Faber said an announcement is expected by tomorrow.

Rallying back from this week's extended the weakness, the DJIA has trimmed its weekly losses to 1.3%.

Elsewhere, the Treasury's $13 bln 30-year auction (reopening) at the top of the hour was met with strong indirect bidding interest. The offering drew a high yield of 2.978% on a bid-to-cover of 2.42.
Related Quotes

12:55 pm:

[BRIEFING.COM] The major averages hold slim midday gains after sliding from their morning highs. The S&P 500 remains higher by 0.3% after being up 0.8% in the early going.

Equity indices spent the first hour of action near their flat lines, following the sideways open with a rally to fresh session highs. That move lifted the S&P 500 above its 50-day moving average (2,054), but the index has struggled to hold its ground considering the bulk of the early strength has been isolated to the energy sector (+0.9%).

The relative strength in the energy sector has helped the group narrow this week's loss to 2.9% despite defensive action in crude oil. WTI crude is currently lower by 1.1% at $36.77/bbl, which puts the energy component right above its session low of $36.55/bbl.

Similar to energy, industrials (+0.5%) and health care (+0.7%) have shown some strength while other advancers have spent the first half of the trading day near the S&P 500. The health care sector has received a boost from biotechnology with iShares Nasdaq Biotechnology ETF (IBB 328.63, +3.43) trading up 1.0% at this juncture. Meanwhile, another high-beta group-transport stocks-has contributed to the outperformance in the industrial space. To be fair, the Dow Jones Transportation Average is higher by 0.8% today, but remains down 3.3% for the week versus a 1.8% decline in the S&P 500.

Elsewhere, top-weighted sectors like financials (+0.3%), consumer discretionary (+0.3%), and technology (+0.3%) have not distinguished themselves with the slim gain in technology masking a 0.6% advance in the PHLX Semiconductor Index. The chip index has narrowed this week's loss to 2.5% with NXP Semiconductor (NXPI 88.72, +2.48) leading the group higher.

On the downside, the consumer staples sector (-0.1%) has ticked into the red not long ago while utilities (-1.5%) and materials (-1.0%) have struggled since the start.

Treasuries have spent the day inside narrow ranges and they currently sit near their lows with the 10-yr yield up one basis point at 2.23%.

Economic data reported this morning included Initial Claims and Import/Export Prices:

Initial claims for the week ending December 5 increased by 13,000 to 282,000 (Briefing.com consensus 269,000) while continuing claims for the week ending November 28 jumped by 82,000 to 2.243 million (Briefing.com consensus 2.167 million)
There were no special factors influencing initial claims, which have remained bounded between 250,000 and 300,000 since July 2014
Export prices, excluding agriculture, decreased 0.6% in November after decreasing 0.3% in the prior reading
Excluding oil, import prices decreased 0.3%, which followed last month's decrease of 0.3%

The November Treasury Budget will be released at 14:00 ET.

12:25 pm:

[BRIEFING.COM] The stock market has continued its slow retreat from its best level of the day with the S&P 500 now up just three points after showing a 16-point gain during the first 90 minutes of the trading day.

Just about every sector has backed away from its session high with energy trimming its gain to 1.0% after being up 2.1% in the early going. On a related note, crude oil has dipped back into the neighborhood of its session low. The energy component is currently down 1.2% at $36.70/bbl after marking a low at $36.55/bbl.

Similar to energy, health care (+0.4%) and industrials (+0.3%) trade ahead of the broader market while other influential sectors are little changed.

11:55 am:

[BRIEFING.COM] The major averages have ticked down from their highs, leaving the S&P 500 (+0.3%) roughly in the middle of its trading range and back below its 50-day moving average (2,054).

The energy sector (+1.3%) remains well ahead of the pack while other groups have not distinguished themselves. For instance, the top-weighted technology sector (+0.3%) trades right in line with the broader market while high-beta chipmakers trade just a bit ahead of the sector with the PHLX Semiconductor Index up 0.5%.

On the downside, utilities (-1.2%) and materials (-0.9%) continue trading in the red with the materials sector pulling back after yesterday's 3.1% surge.

11:25 am:

[BRIEFING.COM] Equity indices remain near their recent levels with the Dow (+0.7%) trading a bit ahead of the S&P 500 (+0.6%).

As mentioned earlier, the energy sector (+1.8%) has powered the market to a new high while other groups have reluctantly advanced alongside the broader market. To that point, consumer discretionary (+0.5%), financials (+0.6%), industrials (+0.7%), technology (+0.5%), and health care (+0.7%) all trade in the neighborhood of the benchmark index.

Given this trading dynamic, it would not be a shock to see a pullback in the market; however, if the aforementioned sectors build on their gains, that would form a much stronger foundation for today's rally, which has narrowed this week's loss in the S&P 500 to 1.5%.

10:55 am:

[BRIEFING.COM] The major averages have charged to new highs with the S&P 500 (+0.6%) climbing above its 50-day moving average (2,054) after testing that level during the opening hour.

The bulk of the rally has been fueled by the energy sector (+2.0%) while the remaining advancers have been pulled higher by the broader market. As for energy, the sector has narrowed this week's decline to 1.9%, climbing to a new session high even though crude oil remains lower by 0.6% at $36.94/bbl.

On the downside, materials (-0.4%) and utilities (-0.8%) trade in the red, but it is worth noting that the two sectors account for just 6.0% of the entire market.

Elsewhere, Treasuries have ticked down to their lows, pushing the 10-yr yield up one basis point to 2.22%.

10:35 am: [BRIEFING.COM]

The dollar index trended at gains overnight, then saw additional lift in early trade ahead of the morning's US unemployment and import/export price data
Data showed that higher than expected initial (282K vs. 269K est.) and continuing (2.24 mln vs. 2.16 mln est.) claims, and negative Nov. price growth
Following the release of the under-whelming data, the index has held its gains and is now +0.5% to 97.81
Precious metals are trading at moderate negatives, primarily due to consistent strength in the dollar index, with gold at -0.5% to $1071.30/oz and silver at -0.4% to $14.14/oz
Oil trended modestly positive overnight, before dipping back to near-flat ahead of OPEC's December monthly oil report.
The released report forecast for increased global demand in both 2015 and 2016, in addition to a 1 mb/d increase in supply for 2015 (driven by increased production from Russia, China, the US and Brazil).
Following the report's release, oil has seen a gradual slump to negatives for the session- now at -0.4% to $37.02/barrel
Natural gas traded at losses going into the morning's EIA storage report, despite expectations for a 66 bcf draw
Upon release of the data which showed a 76 bcf draw, nat gas spiked higher and is now +1.1% to $2.09/MMBtu
Copper is now near-flat for the morning at +0.2% to $2.07/lb

9:55 am:

[BRIEFING.COM] Equity indices continue holding modest gains after erasing their slight opening losses. The S&P 500 trades up 0.2% as it hovers near its 50-day moving average (2,054).

Seven sectors trade in the green while financials (unch), materials (-0.3%), and utilities (-0.5%) hover below their flat lines.

On the upside, the telecom services sector (+0.4%) leads, but more notably, energy (+0.3%) and technology (+0.3%) also trade ahead of the broader market. For its part, the energy sector has been able to climb off its early low even though crude oil trades down 0.8% at $36.90/bbl.

9:40 am:

[BRIEFING.COM] Equity indices have climbed in the early going with the Nasdaq (+0.3%) trading just a bit ahead of the S&P 500 (+0.2%).

Heavily-weighted health care (+0.3%), technology (+0.1%), and consumer discretionary (+0.3%) have shown early strength, but commodity-related sectors have faced some early pressure with energy (-0.1%) and materials (-0.2%) struggling to keep pace with the market.

Treasuries have spent the morning near their flat lines and they remain little changed at this time with the 10-yr yield at 2.21%.

9:13 am: [BRIEFING.COM] S&P futures vs fair value: +0.50. Nasdaq futures vs fair value: +6.50.

The stock market is on track for a flat start with S&P 500 futures trading one point above fair value after spending the night in a tight range.

Overnight, most Asian indices registered losses as the cautious sentiment carried over from the defensive session in the U.S. It is worth pointing out that the Reserve Bank of New Zealand cut its key interest rate by 25 basis points to 2.50%, which underscores the ongoing divergence in global monetary policy with many central banks opting for additional easing while the Federal Reserve is expected to raise the Fed funds rate at next week's policy meeting.

Investor sentiment has not seen much improvement as the focus shifted to Europe with most indices there trading a bit below their flat lines at this time. Spain's IBEX (-0.7%) and UK's FTSE (-0.4%) display relative weakness while France's CAC and Germany's DAX hold slim losses.

This week has been very quiet on the economic front, but participants did receive two data points this morning. The latest weekly initial claims count rose to 282,000 from 269,000 while the Briefing.com consensus expected no change at 269,000. Separately, export prices, excluding agriculture, decreased 0.6% in November after decreasing 0.3% in the prior reading. Excluding oil, import prices decreased 0.3%, which followed last month's decrease of 0.3%. One more data point will be released today with the November Treasury Budget set to be released at 14:00 ET.

Similar to equity futures, Treasuries have spent the night inside narrow ranges. The 10-yr note currently trades flat with its yield at 2.21%.

8:58 am: [BRIEFING.COM] S&P futures vs fair value: +0.50. Nasdaq futures vs fair value: +6.50.

The S&P 500 futures trade within a point of fair value.

Markets in the Asia-Pacific region ended Thursday mostly lower. Although there was a fair amount of macro data points and central bank updates to digest, the downward movement in equities seemed to have more to do with the decline in the US the prior day than anything released overnight. This may particularly be the case in Japan, which saw the Nikkei drop over 1.0% following strength in the yen vs the greenback during US hours. Japanese economic data was solid, but the market's response was benign, with November PPI falling less than expected (-0.1%; expected -0.3%) and Q4 BSI seeing another sequential rise. Chinese equities also saw the Shanghai Composite (-0.5%) lose ground with nothing material released on the macro front. There were a couple of central bank updates out of New Zealand and South Korea, but both met market expectations with the RBNZ cutting its key rate by 25 basis points to 2.50% and BOK keeping its key rate unchanged at 1.50%.

In economic data:
Japan's Q4 BSI Large Manufacturing Conditions 3.8 (expected 12.1; previous 11.0) and November CGPI -0.1% month-over-month (expected -0.3%; previous -0.6%); -3.6% year-over-year (consensus -3.8%; prior -3.8%)
Australia's MI Inflation Expectations 4.0% (previous 3.5%) and November Employment Change 71,400 (expected -10,000; previous 56,100). Separately, November Unemployment Rate ticked down to 5.8% from 5.9% (expected 6.0%)
New Zealand's Electronic Card Retail Sales +0.3% month-over-month (expected 0.4%; previous 0.0%)

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Japan's Nikkei declined by 1.3%. The weakness was widespread with stocks in Consumer Discretionary (-1.9%), Industrials (-1.5%), and IT (-1.4%) pacing the way lower. The Energy sector was the only one to finish in the green, gaining 0.3% today. Among the most notable names, Yahoo! Japan (-1.7%) closed lower despite the launch of its taxi app. Canon dropped 3.7% after the company lowered its profit outlook. Meanwhile, Toshiba managed to buck the broader market sentiment to post a 1.9% gain after local reports suggested the company may put a halt to its television manufacturing business units.
Hong Kong's Hang Seng fell by 0.5% and finished at its high. Trading in the afternoon was accented by steady pressure in the market, with sellers taking control in the last 2 hours of trading. Energy names were in focus in Hong Kong with widespread weakness in names such as CNOOC (-3.0%), SinoPec (-2.2%) and PetroChina (-1.2%). China Oilfield Services did nothing to help the sector out, with the stock falling 2.7% after the company reported guidance that disappointed investors.
China's Shanghai Composite declined 0.5% after the index was unable to sustain early gains with the final hour tipping the market into negative territory. China's cabinet announced it would look to shift to a new IPO registration system for initial public offerings in a gradual, two year process. This gave brokerages a boost with Haitong Securities gaining 2.0%, while CITIC Securities was able to advance by 0.5%. In the materials space, Yunnan Copper managed to pull off session lows to gain 3.6% after the co cancelled a scheduled debt offering.

Major European indices trade near their flat lines with UK's FTSE (-0.3%) showing relative weakness. The Bank of England kept its key interest rate and the purchasing program unchanged at their respective 0.5% and GBP375 billion, as expected. Furthermore, the bank's latest minutes showed no change among policymakers with eight voting for no change to monetary policy while one member dissented, calling for a hike.

In economic data:
France's Q3 Non-Farm Payrolls 0.0% (expected 0.1%; previous 0.1%) and October Industrial Production +0.5% month-over-month (expected -0.1%; prior 0.1%). Separately, November CPI -0.2% month-over-month (expected 0.0%; prior 0.1%)
UK's October trade deficit widened to GBP11.83 billion from GBP8.80 billion (expected deficit of GBP9.70 billion

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Germany's DAX has climbed off its low and now trades little changed with Bayer, Lufthansa, Allianz, and ThyssenKrupp up between 0.4% and 2.0%. On the flip side, Merck, Volkswagen, Siemens, and Continental show losses between 0.5% and 1.2%.
France's CAC trades lower by 0.1% with roughly half of its components in the red. Consumer names Carrefour, Essilor International, Danone, and L'Oreal show losses between 0.6% and 1.3% while Technip, Solvay, and Total are up between 0.3% and 2.9%.
UK's FTSE has narrowed its loss to 0.3% with help from miners as they rebound from recent weakness. Glencore has surged 12.3% while Anglo American, Fresnillo, and Rio Tinto are up between 1.2% and 1.7%. Elsewhere, financials have struggled with Old Mutual tumbling 11.7% amid concerns about political transition in South Africa where the company does a fair amount of its business.

8:32 am: [BRIEFING.COM] S&P futures vs fair value: +2.10. Nasdaq futures vs fair value: +6.50.

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

The latest weekly initial jobless claims count totaled 282,000 while the Briefing.com consensus expected a reading of 269,000. Today's tally was above the unrevised prior week count of 269,000. As for continuing claims, they rose to 2.243 million from 2.161 million.

Separately, export prices, excluding agriculture, decreased 0.6% in November after decreasing 0.3% in the prior reading. Excluding oil, import prices decreased 0.3%, which followed last month's decrease of 0.3%.

7:55 am: [BRIEFING.COM] S&P futures vs fair value: +1.40. Nasdaq futures vs fair value: +6.50.

U.S. equity futures hold slim pre-market gains amid cautious action overseas. The S&P 500 futures hover one point above fair value after spending the night in a ten-point range.

Similarly, Treasuries are little changed following a quiet overnight session with the 10-yr yield at 2.21%.

On the economic front, weekly Initial Claims (Briefing.com consensus 269K) and November Import/Export Prices will be reported at 8:30 ET while the November Treasury Budget will be released at 14:00 ET.

In U.S. corporate news of note:

Ciena (CIEN 21.99, -2.12): -8.8% after below-consensus guidance overshadowed better than expected results.
First Solar (FSLR 52.36, -6.49): -11.0% after the company's guidance showed plans for increased investment that may crimp short-term returns
Men's Wearhouse (MW 14.75, -3.64): -19.8% after reporting earnings in line with its warning from November 5.

Reviewing overnight developments:

Asian markets ended mostly lower. Japan's Nikkei -1.3%, China's Shanghai Composite -0.5%, and Hong Kong's Hang Seng -0.5%
In economic data:
Japan's Q4 BSI Large Manufacturing Conditions 3.8 (expected 12.1; previous 11.0) and November CGPI -0.1% month-over-month (expected -0.3%; previous -0.6%); -3.6% year-over-year (consensus -3.8%; prior -3.8%)
Australia's MI Inflation Expectations 4.0% (previous 3.5%) and November Employment Change 71,400 (expected -10,000; previous 56,100). Separately, November Unemployment Rate ticked down to 5.8% from 5.9% (expected 6.0%)
New Zealand's Electronic Card Retail Sales +0.3% month-over-month (expected 0.4%; previous 0.0%)
In news:
The Reserve Bank of New Zealand cut its key interest rate to 2.50% from 2.75%, as expected
The Bank of Korea kept its key interest rate unchanged at 1.50%, as expected

Major European indices trade mostly lower. UK's FTSE -0.4%, France's CAC -0.1%, and Germany's DAX is flat. Elsewhere, Italy's MIB -0.1% and Spain's IBEX -0.7%
In economic data:
France's Q3 Non-Farm Payrolls 0.0% (expected 0.1%; previous 0.1%) and October Industrial Production +0.5% month-over-month (expected -0.1%; prior 0.1%). Separately, November CPI -0.2% month-over-month (expected 0.0%; prior 0.1%)
UK's October trade deficit widened to GBP11.83 billion from GBP8.80 billion (expected deficit of GBP9.70 billion
Among news of note:
The Bank of England kept its key interest rate and the purchasing program unchanged at their respective 0.5% and GBP375 billion, as expected. Furthermore, the bank's latest minutes showed no change among policymakers with eight voting for no change while one member dissented
The Swiss National Bank kept its key interest rate at -0.75%, as expected

5:50 am: [BRIEFING.COM] S&P futures vs fair value: +8.00. Nasdaq futures vs fair value: +21.60.

5:50 am: [BRIEFING.COM] Nikkei...19046.55...-254.50...-1.30%. Hang Seng...21704.61...-99.20...-0.50%.

5:50 am: [BRIEFING.COM] FTSE...6107.10...-19.60...-0.30%. DAX...10627.40...+34.90...+0.30%.

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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