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 Post subject: October 28th Wednesday 2009 Emini ES ($ES_F) points +31.25
PostPosted: Thu Oct 29, 2009 12:00 am 
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Today's trades that were posted in real-time in #FuturesTrades chat room via my IRC user name wrbtrader. You can review each trade from entry to exit along with commentary and an occasional trading tip involving WRB Analysis (wide range body analysis) because its all archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=66&t=348

Quote:
The late afternoon had some difficult price action to trade due to the declining volatility and tight trading ranges that would quickly appear after a volatility spike. However, today was the first time in a long time that I felt comfortable in trading this type of price action in the afternoon trading session. I understood the price action that allowed me to minimize my losses and ride my winners a little longer beyond their profit target.


FYI - You can ask me questions here at the forum or you can tweet me on twitter about anything related to today's trading or related to your own trading.

Image@ http://twitter.com/wrbtrader

In addition, posted below are direct links about my trade methodology or trading approach 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 analysis).


http://www.thestrategylab.com/WRBAnalysisTutorials.htm

http://www.thestrategylab.com/TradeStrategies.htm

Also, I strongly believe that profitable trading involves more than just trade signals and that's why most traders fail because they put all their efforts in trade signals while ignoring the impact on their trading results via market experience, discipline, money management, team collaboration, proper trading enviornment (home or office), market psychology, trader psychology (trading habits/routine and personal lifestyle). If you don't understand this perspective...please ask questions here at the forum for more info or you can tweet me on twitter @wrbtrader.

My Trading Performance: +35.75 Emini ES ($ES_F) points


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Stocks Slammed
A surprise drop in new home sales sends market lower, with the Nasdaq sliding for the fourth straight session, as investors question strength of the economic recovery.
By Alexandra Twin, CNNMoney.com senior writer
Last Updated: October 28, 2009: 6:49 PM ET

NEW YORK (CNNMoney.com) -- Stocks tumbled Wednesday, led by the tech-fueled Nasdaq, as a weaker-than-expected new home sales report added to questions about the strength of the economic recovery.

The Dow Jones industrial average (INDU) lost 119 points, or 1.2%, to close at 9,762.69. The S&P 500 (SPX) index dropped 21 points, or 2%, to close at 1,042.63. The Nasdaq composite (COMP) tumbled 56 points, or 2.7%, to close at 2,059.61.

The Dow and S&P have fallen for three of the last four sessions, and the Nasdaq for all three, as investors have turned cautious following a seven-month stock rally.

Since bottoming at a 12-year low in March, the S&P 500 gained 63% through its peak on Oct. 19. But since then, it's lost 5%, as of Wednesday's close.

Enthusiasm about the largely better-than-expected quarterly earnings reports has been tempered recently by concerns about the still-burgeoning economic recovery.

"There's been some nervousness over the last week, and today the worry is that the weaker new home sales report means the consumer is still flat on its back," said Alan Gayle, senior investment strategist at RidgeWorth Investments.

Gayle said Wednesday's action shows investors are feeling less willing to take on risk at the moment, a factor made clear by the sector movement. In particular, the weakness in areas such as retail, financial and technology - and strength in defensive sectors like consumer staples and healthcare.

GDP: Thursday's reading on gross domestic product growth is the key economic event of the week. GDP is expected to have grown at a 3.2% annualized rate in the third quarter after shrinking at an 0.7% annualized rate in the second quarter.

GDP has declined steadily for four straight quarters, as Americans have contended with the worst recession since the Great Depression.

But the end of the recession doesn't necessarily mean a return to a period of robust growth, particularly amid rising joblessness and still-sluggish consumer spending. Government stimulus programs have played a big role in the recovery, and there are concerns about the strength of the system once that support winds down.

The weekly jobless claims report from the Labor Department is also due in the morning.

Housing: New home sales fell to a 402,000 unit annualized rate in September from a revised 417,000 unit annualized rate in August, the Commerce Department reported. Sales were expected to rise to a 440,000 unit annualized rate, according to a consensus of analysts surveyed by Briefing.com.

Durable goods: Orders for manufactured goods meant to last three years or more rose 1% in September, after falling 2.6% in the previous month. The rise was in line with estimates.

Goods excluding transportation rose 0.9% after falling 0.4% in August. Economists thought they would rise 0.7%.

Another report showed that fewer metro areas reported jobless rates above 10% in September than in the previous month.

GMAC seeks bailout: GMAC Financial Services is looking for a third bailout from the Treasury Department, according to a Wall Street Journal report. The lender is seeking between $2.8 billion and $5.6 billion, according to the Journal.

The U.S. owns a 35% stake in GMAC and has given it $13.4 billion since December 2008.

On the move: Financial and technology shares were among the hardest hit stocks Wednesday.

Dow financial components American Express (AXP, Fortune 500), Bank of America (BAC, Fortune 500) and JPMorgan Chase (JPM, Fortune 500) all declined. Wells Fargo (WFC, Fortune 500), Goldman Sachs (GS, Fortune 500) and Morgan Stanley (MS, Fortune 500) were among the other big bank shares sliding. The KBW Bank index slid 3.3%.

On the tech side, Intel (INTC, Fortune 500), Dell (DELL, Fortune 500), Apple (AAPL, Fortune 500) and Oracle (ORCL, Fortune 500) were among the big losers.

Telecom stocks gained, including Qwest Communications (Q, Fortune 500), which posted a higher-than-expected quarterly profit and lifted its full-year earnings forecast. Shares gained 2.6%.

Dow stock Verizon Communications (VZ, Fortune 500) rallied 3% after releasing more details about its iPhone challenging Droid smart phone - due for release next week. The phone uses Google's Android operating system, has a mini-keyboard and can run several applications at once. It is expected to retail for $199.

Fellow Dow telecom AT&T (T, Fortune 500) also gained, rising just short of 2%.

Currency and commodities: The dollar fell versus the euro, resuming its slide after a few up days and moving closer to a 14-month low hit last week. The greenback fell versus the yen.

U.S. light crude oil for December delivery fell $2.09 to settle at $77.46 a barrel on the New York Mercantile Exchange.

COMEX gold for December delivery fell $4.90 to settle at $1,030.50 an ounce. Gold has surpassed records repeatedly this month due to the weak dollar and longer-term worries about inflation.

World markets: Global markets tumbled. In Europe, London's FTSE 100, France's CAC 40 and Germany's DAX all lost over 2%. Asian markets ended lower.

Bonds: Treasury prices rose, lowering the yield on the 10-year note to 3.41% from 3.44% Tuesday. Treasury prices and yields move in opposite directions.

Prices held on to gains after the government sold $41 billion in five-year notes.

Market breadth was negative. On the New York Stock Exchange, losers beat winners nearly 9 to one on volume of 1.68 billion shares. On the Nasdaq, decliners topped advancers almost six to one on volume of 2.81 billion shares.

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Yahoo! Finance

4:25 pm : The S&P 500 closed below its 50-day moving average for the first time since mid-July as sellers moved en masse ahead of tomorrow morning's advance third quarter GDP reading.

Stocks were mired in weakness for virtually the entire session as buyers stepped to the sidelines despite another batch of generally better-than-expected earnings. Stiff selling in overseas trade certainly didn't help the case for bulls, nor did disappointing new home sales data, which showed that new home sales for September fell 3.6% month-over-month to an annualized rate of 402,000 units. That was well below the rate of 440,000 units that was widely expected.

The disappointing report caused an immediate drop in stocks, though a premarket durable goods orders report that was largely dismissed. According to that report, durable goods orders were up 1.0% in September, in-line with expectations, while orders less transportation increased a stronger-than-expected 0.9%.

Partial to selling, participants pushed stocks to their worst loss since the start of the month and left the S&P 500 to trade below its 50-day moving average. The technical line initially provided some support, but persistent pressure took the stock market through the line and left it to finish near session lows.

Declines were steep and broad based as nine of the 10 major sectors posted losses.

Financials were among the worst performers this session. The sector dropped 3.2% amid ongoing weakness in bank stocks. Including this session's 3.2% decline, the KBW Banking Index has fallen more than 9% during the past four sessions.

Visa (V 76.57, +2.67) was one of the few financial issues to post a gain this session. The company garnered support after it posted last evening better-than-expected adjusted earnings of $0.74 per share.

Materials stocks were also wrought with weakness. The sector fell nearly 3.2% as the greenback gained 0.5% against a basket of major foreign currencies, causing weakness among basic materials stocks and commodities-related stocks.

With the dollar gaining ground for the fifth straight session, the CRB Commodity Index fell 2.0% in its worst single-session loss in one month. Both metals prices and energy prices weighed heavily on the CRB. Gold prices settled pit trade 0.5% lower at $1030.50 per ounce, below their 2008 high of $1033.90 per ounce, while crude oil prices dropped 2.8% to $77.44 per barrel following disappointing gasoline inventory data this morning.

Softer oil prices and broader market weakness took the energy sector to a 2.9% loss. Better-than-expected earnings from ConocoPhillips (COP 49.49, -1.41) did nothing for the sector.

Telecom stocks made up the only sector to advance. What's more, its 1.8% gain was the sector's best single-session advance in one month and came in the face of considerable weakness in the broader market. Its gain this session extended the previous session's advance. In the weeks preceding that point, telecom had been considerably underperforming the broader market.

Participation was strong this session. Specifically, nearly 1.7 billion shares exchanged hands on the NYSE. That's the highest level in more than one month and exceeds both the 50-day and 200-day moving average for trading volume.

Another round of Treasury auctions was met with solid turnout. An auction of 5-year Notes produced an above-average bid-to-cover ratio 2.6. Though Treasuries pulled back a bit following the announcement, weakness among equities helped Treasuries hold onto gains. In turn, the yield on the benchmark 10-year Note has fallen to roughly 3.4% from 3.5% in just two days.

Treasuries have performed well this week and stocks are now down more than 3% week-to-date, but both fixed income traders and equity market participants are turning their attention to the advance third quarter GDP report, which is a headline event for Thursday morning.

Advancing Sectors: Telecom (+1.8%)
Declining Sectors: Financials (-3.2%), Materials (-3.2%), Energy (-2.9%), Consumer Discretionary (-2.8%), Industrials (-2.2%), Tech (-1.8%), Health Care (-1.3%), Utilities (-1.0%), Consumer Staples (-0.4%)DJ30 -119.48 NASDAQ -56.48 NQ100 -2.4% R2K -3.5% SP400 -3.3% SP500 -20.78 NASDAQ Adv/Vol/Dec 411/2.75 bln/2290 NYSE Adv/Vol/Dec 322/1.68 bln/2779

3:35 pm : The market is trading near session lows as the dollar continues its strength. As such, energy and materials stocks have also led the move to the downside this session. The energy sector is down 2.8% while the materials sector is down 3.0%.

Broad-based selling pressure existent in the equity markets was also present in the pits this session. A weak dollar aided the move to the downside. The CRB Commodity Index fell 1.9%. Energy commodities were hit the hardest, down 3.3%, while precious metals lost 1.4%.

Crude oil futures sold off following bearish gasoline inventory data this morning. The December futures moved lower (as the dollar moved higher) for the rest of the session and closed down 2.8% at $77.44 per barrel.

Natural gas futures saw a sharp decline in the morning. Again, losses were exacerbated by strength in the dollar. The December futures closed 4.2% lower at $5.07 per contract.

Both gold and silver futures finished near session lows. December gold futures finished 0.5% lower at $1030.50 per ounce and December silver futures finished 1.8% lower at $16.24 per ounce.DJ30 -95.68 NASDAQ -51.12 SP500 -17.49 NASDAQ Adv/Vol/Dec 466/1=2.30 bln/2227 NYSE Adv/Vol/Dec 385/1.27 bln/2701

3:00 pm : The major indices remain mired in weakness. That has left each of them to trade near session lows.

With only one hour remaining in this session, participants are starting to look ahead to another round of earnings announcements scheduled for this evening. More than 100 companies have confirmed that they will be reporting, though there aren't any bellwethers in the bunch.DJ30 -86.00 NASDAQ -46.62 SP500 -16.26 NASDAQ Adv/Vol/Dec 487/2.10 bln/2177 NYSE Adv/Vol/Dec 429/1.15 bln/2644

2:30 pm : After bouncing off of its 50-day moving average earlier in the session, the S&P 500 is back at the technical line. However, it doesn't immediately appear willing to make a concerted break below that line and is, instead, finding some support.

The last session that the S&P 500 retreated to its 50-day moving average was on October 2, but it was able to garner enough support to close above that level and move higher in subsequent sessions. As an aside, the S&P 500 hasn't fallen below its 50-day moving average for an extended period (seven sessions) since mid-July. That was also the last time that the S&P 500 hit its 200-day moving average.DJ30 -86.91 NASDAQ -45.24 SP500 -15.46 NASDAQ Adv/Vol/Dec 533/1.90 bln/2126 NYSE Adv/Vol/Dec 473/1.04 bln/2585

2:00 pm : Telecom stocks have stretched this session's advance to a 2.2% gain. That's the best single-session percentage advance for the sector in three months. What's more, it comes as the broader market contends with a loss of more than 1%.

There isn't any immediate news item to account for telecom's strength, which started in the previous session as it benefited from an upgrade of Verizon (VZ 30.07, +0.87) by analysts at Wells Fargo. Prior to that, telecom had been considerably out of favor among participants. Specifically, in the near 30 days leading up to the upgrade, telecom stocks had fallen more than 5%, collectively. During that same time, the S&P 500 gained more than 2%.DJ30 -64.62 NASDAQ -39.82 SP500 -13.72 NASDAQ Adv/Vol/Dec 583/1.77 bln/2060 NYSE Adv/Vol/Dec 481/968 mln/2556

1:30 pm : After dipping below the 1050 line, which marks the 50-day moving average for the S&P 500, stocks have bounced a bit and pared a portion of their losses. Still, weakness remains widespread.

The latest round of Treasury auctions featured 5-year Notes. The auction was met with a bid-to-cover ratio 2.6, which is better than the recent average of 2.2. Longer-term Treasuries pulled back a bit in the minutes immediately following the announcement, but have since reclaimed some of their gains. DJ30 -44.89 NASDAQ -35.72 SP500 -12.32 NASDAQ Adv/Vol/Dec 606/1.65 bln/2022 NYSE Adv/Vol/Dec 537/893 mln/2481

1:00 pm : A choppy start has given way to a broad-based selling effort that has taken the stock market considerably lower and left it to trade near a key technical support line.

Stocks struggled to find direction in the early going as participants dismissed another batch of generally better-than-expected earnings and got their hands on disappointing new home sales data. New home sales for September fell 3.6% month-over-month to an annualized rate of 402,000 units, which is below the rate of 440,000 units that was widely expected. This morning's durable goods orders data for September had no real affect on trade.

With buyers uninspired by the day's announcements, sellers have taken control of the session and sent the broader market sharply lower. That has left the S&P 500 at its 50-day moving average, which hasn't been touched since the start of the month. Stocks bounced off of the technical line that time, so many market watchers are monitoring whether the line will hold again.

A stronger dollar hasn't helped ameliorate the market's weakness. The Dollar Index is currently up 0.3% as it makes its fifth straight advance. A stronger dollar and broader market weakness have spelled double trouble for the materials sector, which is down 3.2%, more than any other sector.

Financials are also showing considerable weakness. The sector has shed 2.7% as both bank stocks and shares of insurers falter. Visa (V 76.19, +2.29) has been a standout in the sector, though. The company posted last evening better-than-expected adjusted earnings of $0.74 per share.

Energy players ConocoPhillips (COP 49.65, -1.25) and Hess (HES 56.37, -1.44) recently reported solid earnings of their own, but that hasn't stopped the energy sector from falling to a 2.0% loss. Part of its weakness is owed to a 2.5% drop in oil prices, which currently stand at $77.50 per barrel following rather disappointing weekly inventory data.

Amid the broader market's weakness, telecom stocks are faring quite well. The sector is up 1.7% as integrated telcos find favor.

Due shortly are results from an auction of 5-year Treasuries. Ahead of the announcement, Treasuries are sporting solid gains.DJ30 -66.20 NASDAQ -43.24 SP500 -14.46 NASDAQ Adv/Vol/Dec 524/1.49 bln/2080 NYSE Adv/Vol/Dec 496/808 mln/2506

12:30 pm : The S&P 500 recently dipped to a fresh session low, but was able to make a quick move up from that mark. Still, losses remain considerable and broad based as six of its 10 sectors trade with losses in excess of 1%.

Amid the stock market's weakness, the Dollar Index has made its way up to a session high, which translates into a 0.4% gain. The dollar's advance has hampered both stocks and commodities, which are now down 1.3%, collectively, according to the CRB Commodity Index.DJ30 -44.29 NASDAQ -36.59 SP500 -11.45 NASDAQ Adv/Vol/Dec 616/1.33 bln/1957 NYSE Adv/Vol/Dec 596/726 mln/2398

12:00 pm : Stocks continue to chop along in negative territory amid widespread weakness. In the S&P 500, declining issues outnumber advancers by more than 4-to-1.

Sellers have stepped up their efforts against financial stocks. The sector is at a fresh session low, resulting in a 2.2% loss. Losses in the sector are steep and broad. More specifically, diversified banks are down 2.3%, multiline insurers are down 2.3%, consumer finance companies are down 2.2%, diversified REITs are down 2.4%, and industrial REITs are down 7.1%.DJ30 -36.58 NASDAQ -29.93 SP500 -10.41 NASDAQ Adv/Vol/Dec 644/1.19 bln/1896 NYSE Adv/Vol/Dec 613/640 mln/2359

11:30 am : Tobacco players Altria Group (MO 18.30, +0.16) and Philip Morris International (PM 49.14, +0.23) are providing leadership to the consumer staples sector, which is outperforming the broader market with a 0.3% gain.

Utilities stocks are also up 0.3%. The sector has gained ground as multi-utilities holdings advance 0.3% and electric utilities climb 0.4%. Electric utilities have been helped along by a solid quarterly report from Southern Co (SO 33.01, +0.36).

Still, telecom stocks are faring the best. The sector is up 1.1% as integrated telcos like AT&T (T 26.13, +0.53) and Verizon (VZ 29.89, +0.69) show strength. That strength has helped the Dow Jones Industrial Average limit its losses.DJ30 -24.71 NASDAQ -27.16 SP500 -8.96 NASDAQ Adv/Vol/Dec 677/1.06 bln/1825 NYSE Adv/Vol/Dec 645/557 mln/2289

11:00 am : Renewed weakness recently took the stock market to fresh session lows, which matched up with the S&P 500's 50-day moving average of 1050. The S&P 500 last broke below its 50-day moving average earlier this month, but it rebounded from the technical line to 2009 highs in subsequent sessions.

Materials stocks have become the least favored sector among participants. It is now down 2.5%. The sector's slide is owed to broader market weakness and a considerable drop by commodities prices, which have taken the CRB Commodity Index to a 0.7% loss.DJ30 -34.61 NASDAQ -29.28 SP500 -10.00 NASDAQ Adv/Vol/Dec 615/849 mln/1840 NYSE Adv/Vol/Dec 625/446 mln/2271

10:30 am : Oil prices are down 1.8% to $78.15 per barrel in the wake of the latest weekly inventory data, which showed a build of 778,000 barrels. Analysts, on average, had believed oil inventories would increase by 1.91 million barrels. Meanwhile, gasoline inventories increased 1.62 million. They were expected to decline by 1 million barrels.

Natural gas prices are down a sharp 2.9% to $4.42 per contract.

As for precious metals, gold prices are down fractionally to $1034.10 per ounce, which is just above their 2008 highs. Silver is being priced at $16.40 per ounce, down 0.8%. DJ30 -24.49 NASDAQ -18.28 SP500 -6.92 NASDAQ Adv/Vol/Dec 748/597 mln/1637 NYSE Adv/Vol/Dec 715/312 mln/2102

10:00 am : After paring their losses, stocks have gone on the retreat. That has left the major indices to trade at morning lows.

The pullback comes amid news that new home sales for September hit an annualized rate of 402,000 units, which is below the rate of 440,000 units.

Energy remains the worst performing sector. It is now down 1.3% as oil and gas exploration companies fall 2.2% and drillers drop 2.5%.

Financials are also showing considerable weakness, though. The sector has shed 1.2% as diversified financial services companies fall 1.3% and diversified banks decline 1.3%. This is the fourth straight session that diversified banks have come under pressure, losing more than 4% during that time.

Advancing Sectors: Telecom (+1.0%), Consumer Staples (+0.2%)
Declining Sectors: Energy (-1.3%), Financials (-1.2%), Materials (-1.0%), Consumer Discretionary (-1.0%), Utilities (-0.7%), Tech (-0.4%), Health Care (-0.4%), Industrials (-0.4%)

Early Movers: Trading up -- CTDC +13.2%, WSII +11.8%, HRS +11.5%, PEET +9.3%, PNRA +8.9%, INCY +7.1%, CQB +6.4%; Trading down -- KSP -31.1%, PSYS -18.7%, VCLK -17.3%, ILMN -16.3%, APOL -15.9%, APT -13.3%, LOCM -12%, IRE -11.5%, AIB -10.3%, VPHM -10.3%, CLDA -9.4%, TSS -8.9%, FLY -8.8%, SWSI -8.3%DJ30 -13.53 NASDAQ -18.15 SP500 -8.01 NASDAQ Adv/Vol/Dec 850/330 mln/1410 NYSE Adv/Vol/Dec 750/184 mln/1974

09:45 am : The major indices are trading in mixed fashion after recouping some of their opening losses. That has the Dow sporting a modest gain, while its counterparts contend with sellers, similar to the previous session.

Losses are currently steepest among energy stocks, which are down 0.6%. Energy was actually the best performing sector during the previous session, when it gained more than 1%.

Telecom also fared well in the prior session, but unlike energy, it has managed to extend the previous session's gains into this morning's trade. Telecom, as a group, is currently up 1.0%.DJ30 +16.17 NASDAQ -4.33 SP500 -1.53 NASDAQ Adv/Vol/Dec 921/198 mln/1237 NYSE Adv/Vol/Dec 1175/118 mln/1474

09:15 am : S&P futures vs fair value: -4.80. Nasdaq futures vs fair value: -10.50. The flow of earnings across news wires has started to wind down now that the opening bell is only a few minutes away. The results have generally been-better-than expected, but they continue to do little to inspire buying among participants. Much of the dismissive attitude is owed to heightened expectations for the latest quarter, but participants are also mindful this morning of the sizable, broad-based losses being seen in overseas markets. Those things considered, stock futures saw little reaction to durable orders data that showed a 1.0% increase in September and a 0.9% increase when excluding transportation goods. Another dose of data is due later this morning with the release of new home sales for September (10:00 AM ET). Participants will also keep an eye on results for an auction of 5-year Treasuries (1:00 PM ET).

09:00 am : S&P futures vs fair value: -3.90. Nasdaq futures vs fair value: -3.50. In Europe, losses are broad-based. Britain's FTSE is currently off 1.5%. BHP Billiton (BHP), Rio Tinto (RTP), and Xstrata are down despite better-than-expected earnings from ArcelorMittal (MT). Banks have extended their decline with the break-up of financial services group ING (ING). Moreover, The Independent reported that Lloyds Banking Group (LYG), Royal Bank of Scotland (RBS), and Northern Rock will be broken up. In Germany, the DAX is down 1.5%, led lower by SAP (SAP), which said sales will drop more than initially forecast this year. In France, the CAC has shed 1.4%. ArcelorMittal is among the weaker performing issues. Japan's Nikkei fell 1.3% as tech stocks lagged. Toshiba was among the poorer performers, though its second quarter loss narrowed on cost reductions. However, Honda (HMC) found support following its announcement that it nearly tripled its annual profit forecast. In Hong Kong, the Hang Seng fell 1.8%. Investors dumped Wynn Macau after its parent painted a gloomy outlook. Airlines moved higher on upbeat earnings, though. In mainland China, the Shanghai Composite mustered a 0.3% gain, but the MSCI Asia Pacific Index fell 1.2%.

08:35 am : S&P futures vs fair value: -4.50. Nasdaq futures vs fair value: -5.30. Stock futures continue to trade with relative weakness in the minutes following the latest dose of economic data. Durable goods orders were up 1.0% in September. That's spot on with the consensus estimate. Orders for August were revised downward to reflect a 2.6% drop, though. Excluding transportation, September orders increased 0.9%, which is a bit better than the 0.7% increase that was widely expected. Orders less transportation for August were revised lower to reflect a 0.4% decline.

08:05 am : S&P futures vs fair value: -3.90. Nasdaq futures vs fair value: -4.30. Earnings from the likes of WellPoint (WLP) and Visa (V) have exceeded expectations, but stock futures still point to a downward start for the session. The dour tone comes amid sizable losses in overseas markets and extended gains by the U.S. dollar. A few economic items could sway the direction of trade, though; durable goods orders data are due at the bottom of the hour and new home sales data are due at 10:00 AM ET. Separately, results from an auction of 5-year Treasuries are due at 1:00 PM ET.

06:45 am : S&P futures vs fair value: -6.60. Nasdaq futures vs fair value: -8.50.

06:45 am : Nikkei...10075.05...-137.40...-1.40%. Hang Seng...21761.58...-408.00...-1.80%.

06:45 am : FTSE...5105.73...-95.20...-1.80%. DAX...5530.10...-104.40...-1.80%.

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M.A. Perry - Founder of WRB Analysis (wide range body analysis)


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