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 Post subject: December 16th Wednesday 2009 Emini ES ($ES_F) points +28.50
PostPosted: Thu Dec 17, 2009 3:19 am 
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Written By M.A. Perry
Trader and Founder of WRB Analysis (wide range body analysis)

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=68&t=403

Quote:
Once again...it's a low volatility trading day after a big gap on the regular session chart. Simply, the best trade opportunities are occurring in the overnight trading session while I'm asleep. Therefore, part of my trading plan all year has been to avoid the low volatility trading range during the trading day and try not to miss trade opportunities doing personal stuff after getting bored. Today was a good day where I was able to trade when good opportunities appear and stay away from trading when the low volatility crap showed up even though it was a FOMC Interest Rate Announcement trading day. Regardless, a market tendency is that there's a high probability chance for a trend day or strong parabolic price movement within 3 trading days after an FOMC Announcement. Simply, I'm going to be aggressive in my trading for the remainder of the trading week.


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: +28.50 Emini ES ($ES_F) points

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Stocks Skid After Fed Holds Rates
By Julianne Pepitone, staff reporter
December 16, 2009: 4:34 PM ET

NEW YORK (CNNMoney.com) -- Stocks ended mixed Wednesday after the Federal Reserve left interest rates unchanged, saying market conditions were helping the recovery but weakness will persist.

The Dow Jones industrial average (INDU) fell 11 points, 0.1%. The S&P 500 index (SPX) rose 1 point, or 0.1%, while the Nasdaq composite (COMP) gained 6 points, or 0.3%.The U.S. central bank released its final policy statement of the year at 2:15 p.m. ET to capstone its two-day meeting.

The Federal Reserve said it would hold the fed funds rate, a key overnight bank lending rate, unchanged at historic lows near 0% -- the level at which the rate has stood for a year.

Stocks had started the day higher, but the market was unable to sustain those gains after the Fed released its statement.

"There are no real surprises here," said Peter Cardillo, analyst at Avalon Partners. "Investors know what's going on with the economy, so it's priced into the market."
Fed will hike rates - in 2011

In its statement, the Fed said weakness will remain for a bit but a combination of government action, stimulus and market forces "will contribute to a strengthening of economic growth."

The central bank has kept rates low and injected trillions of dollars into the economy in an effort to offset the recession's impact.

The Fed's statement singled out strength in a few sectors, including housing and consumer spending, and it noted that while the labor market continued to lose ground, the pace was slowing.

"This is the vague pronouncement you typically see," said Balestra Capital analyst Ryan Atkinson. "Day traders are jockeying for position, not reacting to some huge change that had a significant effect on policy."

Atkinson said equities tend to make a move just before the Fed releases its statement, but it usually "ends up turning sideways."

The markets have been somewhat volatile this week, partly due to quadruple witching, which is coming up on Friday. Quadruple witching occurs when contracts expire for stock market index futures, market index options, stock options and stock futures.

Stocks broke a four-day winning streak Tuesday as bank shares led a late-session selloff and investors weighed mixed reports on inflation and manufacturing.

Companies: The Federal Trade Commission said Wednesday it is suing Intel (INTC, Fortune 500) for anticompetitive practices against its rivals. Intel shares ended down 2.1%.

The European Union decided to drop antitrust charges against software maker Microsoft (MSFT, Fortune 500) after it agreed to allow computer makers to install competing software.

Economy: Stocks showed little reaction to economic indicators released early Wednesday. This includes the Commerce Department's release of the Consumer Price Index (CPI), a measure of consumer inflation.

November CPI rose 0.4% after climbing 0.2% the previous month, matching expectations. Core CPI was unchanged from the prior month, compared to the expected gain of 0.1% for November, according to a Briefing.com consensus.

The Commerce Department released a pair of housing market indicators in the morning as well.

Housing starts increased to a 574,000 annual unit rate in November from a revised 527,000 unit annual rate in October, matching expectations from Briefing.com consensus.

Building permits, a measure of builder confidence, rose to a 584,000 unit annual rate in November, which was more than the 570,000 rate forecast by Briefing.com consensus.

The weekly crude oil inventory report from the Energy Information Administration said stockpiles decreased by 3.7 million barrels last week.

World markets: Stocks in Asia ended mixed, with Tokyo's Nikkei index up 0.9% and Hong Kong's Hang Seng index down 0.9%. European indexes ended higher.

Other markets: The dollar was mixed against the major international currencies, slipping versus the euro and the pound but rising against the yen.
Weaker dollar, stronger returns

Crude oil for January delivery rose $1.97 to settle at $72.66 a barrel.

Gold futures for February delivery gained $13.20 to settle at $1,136.20 an ounce.

Bonds were slightly lower in late trading, with the 10-year yield holding at 3.59%.

Market breadth was positive. On the New York Stock Exchange, winners beat losers nine to six on volume of 1.2 billion shares. On the Nasdaq, advancers topped decliners five to four on volume of 2.1 billion shares.

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Yahoo! Finance

4:10 pm : A weaker dollar helped put stocks in higher ground in the early going, but broader market support faded in the wake of the latest statement from the Federal Open Market Committee (FOMC).

Early gains were broad based as the dollar dipped as much as 0.4% against a basket of foreign currencies in the early going. The Nasdaq was even able to log a fresh 52-week high.

However, support for stocks started to fade ahead of the latest FOMC directive and then buckled in the report's wake.

The FOMC stated that economic activity has continued to pick up and that deterioration in the labor market is abating. The FOMC also expressed that conditions in the financial markets are improving, so some of the Fed's special liquidity facilities will soon end as planned.

More notably, the FOMC indicated that the target range for the federal funds rate will remain at 0.00% to 0.25% and that economic conditions, including low rates of resource utilization, subdued inflation trends, and stable inflation expectations, are likely to warrant exceptionally low levels of the federal funds rate for an extended period. The overall language in the statement is consistent with previous statements, so it helped calm concerns that the Fed may look to raise interest rates sooner than later.

Despite that, the greenback advanced against competing currencies and gave the Dollar Index a momentary gain. The Dollar Index settled with a fractional loss.

Though the dollar was able to improve its position, support for commodities remained strong. That gave the CRB Commodity Index a 1.6% gain, its best by percent in three weeks, and helped the materials sector outperform. Materials stocks advanced 1.0%, led by diversified metals and miners (+1.7).

Energy stocks also looked strong. They advanced 0.5% as oil prices closed 2.8% higher at $72.68 per barrel. Early weakness in the dollar and a larger-than-expected weekly inventory draw of 3.69 million barrels underpinned oil's strength.

Financials also showed strength in the face of the broader market's afternoon downturn. The sector settled with a 0.7% gain, though regional banks (-0.6%) traded with continued weakness.

Homebuilders were among this session's best performers. They climbed 5.0% amid data that indicated housing starts for November hit an annualized rate of 574,000 units, which matched the consensus and marked an increase from the rate registered the previous month. Building permits for November hit an annualized rate of 584,000, which bested the rate of 570,000 that had been widely forecast. It also topped the rate of 551,000 that was registered in October.

The November Consumer Price Index increased 0.4% month-over-month, which matches the consensus estimate. Excluding food and energy, consumer prices were flat for the month, but they had been expected to rise 0.1%. Since the CPI data generally matched expectations, it didn't cause any meaningful stir in the broader market.

Advancing Sectors: Materials (+1.0%), Financials (+0.7%), Energy (+0.5%), Tech (+0.4%), Consumer Discretionary (+0.2%)
Declining Sectors: Utilities (-0.4%), Consumer Staples (-0.4%), Health Care (-0.4%) Telecom (-0.3%), Industrials (-0.3%)DJ30 -10.88 NASDAQ +5.86 NQ100 +0.2% R2K +0.8% SP400 +0.5% SP500 +1.25 NASDAQ Adv/Vol/Dec 1568/2.02 bln/1128 NYSE Adv/Vol/Dec 1967/1.16 bln/1058

3:30 pm : The market is trading at its worst levels of the session. Strength in the dollar following the FOMC report is offsetting the overall positive reception of the report.

Commodities were strong this session as the dollar sold off throughout the session. However, the FOMC statement spurred a bid on the dollar, paring gains in the commodities space late in the session.

Precious metals were notably strong on the heels of a weak dollar. However, the COMEX pit trade closed before the FOMC statement gave a boost to the dollar. Therefore, gains have been pared somewhat in the electronic trading since then. February gold futures closed 1.2% higher at $1136.20 per ounce and March silver closed 1.4% higher at $17.69 per ounce.

Crude oil futures surged this session after a greater-than-expected draw in inventories reported by the Department of Energy. The January contract maintained elevated levels for the rest of the session and hit a session high at $73.55 per barrel before pulling back as the dollar spiked. The January crude oil contract closed 2.8% higher at $72.68 per barrel.

Natural gas futures traded in negative territory for most of the session. The January contract chopped between $5.42 and $5.57 and closed down 1.1% at $5.46 per MMBtu. DJ30 -23.42 NASDAQ +3.31 SP500 +0.15 NASDAQ Adv/Vol/Dec 1426/1.68 bln/1274 NYSE Adv/Vol/Dec 1760/845 mln/1257

3:00 pm : Stocks have started to roll over as sellers step in and push buyers to the sidelines in the wake of the latest FOMC policy statement. The downward move has taken the Dow to a fractional loss after it was up a solid 0.6% in the early going. Though the Nasdaq and S&P 500 remain in positive territory, their gains are now moderate.

Small-cap stocks continue to sport handsome gains, even though they have also come under a recent bout of selling pressure. Small-caps in the Russell 2000 had been up as much as 1.2%. DJ30 -2.49 NASDAQ +6.39 SP500 +2.77 NASDAQ Adv/Vol/Dec 1510/1.52 bln/1166 NYSE Adv/Vol/Dec 1897/743 mln/1111

2:30 pm : The Federal Open Market Committee (FOMC) stated that information received since it met in November suggests that economic activity has continued to pick up and that the deterioration in the labor market is abating. The FOMC also stated that it will maintain the target range for the federal funds rate at 0.00% to 0.25% and continues to anticipate that economic conditions, including low rates of resource utilization, subdued inflation trends, and stable inflation expectations, are likely to warrant exceptionally low levels of the federal funds rate for an extended period.

The statement is important since many had questioned whether the FOMC would become more hawkish in light of recent spikes in producer prices and a sharp drop off in monthly job losses.

The FOMC also went on to say that in light of ongoing improvements in the functioning of financial markets, it anticipates that most of the Fed's special liquidity facilities will expire on February 1, 2010, as previously stated. The Fed will also work with central bank counterparties to close its temporary liquidity swap arrangements by February 11.

The statements come as an affirmation that the Fed continues to believe that conditions are improving in the financial system, such that it can discontinue some of its extraordinary measures that have helped to aid in the function of financial markets.

Despite that confidence, stocks have struggled to find direction in the minutes following the announcement. Meanwhile, Treasuries have turned lower so that the benchmark 10-year Note now trades with a slight loss. DJ30 +22.53 NASDAQ +11.84 SP500 +5.44 NASDAQ Adv/Vol/Dec 1636/1.39 bln/1035 NYSE Adv/Vol/Dec 2062/682 mln/963

2:00 pm : Health care services stocks have fallen to a 2.8% loss as the likes of CVS (CVS 31.21, -0.55) and Express Scripts (ESRX 84.87, -3.86) come under pressure amid concerns about possible taxes for pharmacy benefit managers. The decline has undercut the broader health care sector, which is down to a 0.2% loss.

Meanwhile, the latest FOMC policy statement is due in just a few minutes (2:15 PM ET). Participants will look closely at the language of the statement for any change the language from the last statement that said the Committee will maintain the target range for the federal funds rate at 0.00% to 0.25% and continues to anticipate that economic conditions, including low rates of resource utilization, subdued inflation trends, and stable inflation expectations, are likely to warrant exceptionally low levels of the federal funds rate for an extended period. Any deviation from this statement will be looked at by the market as an initial move by the Fed to prepare the markets for an interest rate hike.

Another key point is whether any commentary is introduced that would contrast with the Fed's expectations for subdued inflation. They have stated before that with substantial resource slack likely to continue to dampen cost pressures and with longer-term inflation expectations stable, the Committee expects that inflation will remain subdued for some time. DJ30 +24.57 NASDAQ +11.23 SP500 +5.42 NASDAQ Adv/Vol/Dec 1643/1.26 bln/1025 NYSE Adv/Vol/Dec 2083/624 mln/931

1:30 pm : Stocks have steadied their early afternoon drift. That has put the S&P 500 in the middle of this session's range, which has spanned less than eight points.

Homebuilders have provided some of the most support to the broader market in recent action. Strength in KB Home (KBH 13.64, +0.82), Lennar (LEN 12.72, +0.67), and Pulte Homes (PHM 9.37, +0.48) has the group up 5.5%. Their strength follows this morning's news that housing starts for November climbed in-line with expectations, but building permits increased to a higher-than-expected rate. DJ30 +30.91 NASDAQ +14.73 SP500 +6.44 NASDAQ Adv/Vol/Dec 1689/1.15 bln/953 NYSE Adv/Vol/Dec 2090/579 mln/898

1:00 pm : The tone among traders has been positive since the opening bell. However, their mood could change quickly with the upcoming release of the latest FOMC policy statement.

Buyers showed up early to help stocks rebound from the previous session's slide. Their efforts were helped by a marked drop in the Dollar Index, which has since pared its loss to just 0.1%.

Strength in the broader market and strength among commodities, which have also benefited from the dollar's decline, have made materials stocks among this session's best performers. The sector is currently up 1.3%.

Energy stocks have made their way to a 1.1% gain. That comes amid broader market support and a 3.2% rise in oil prices to $72.95 per barrel. A larger-than-expected draw in weekly inventories added to the interest in oil prices.

Gains in the rest of the market are also strong, but utilities continue to lag. The sector is currently down 0.3%; it is the only major sector currently in negative territory.

There haven't been any major earnings announcements or corporate updates this session, so participants have kept most of their focus on the dollar. There was some data this morning, but it was generally in-line with expectations so it didn't cause much of a stir.

Both the November CPI figures and monthly housing starts matched the consensus. Meanwhile, building permits showed a stronger-than-expected increase.

However, the headline of the session will likely come from the latest policy statement from the Federal Open Market Committee (FOMC). The FOMC is expected to leave its target lending rate unchanged from the range 0.00% to 0.25%, but any alterations to the language of the FOMC's actual statement could cause stocks to swing. The statement will be released at 2:15 PM ET.DJ30 +22.22 NASDAQ +13.93 SP500 +5.92 NASDAQ Adv/Vol/Dec 1667/1.10 bln/953 NYSE Adv/Vol/Dec 2070/530 mln/905

12:30 pm : Stocks are stuck in a gradual downward drift that has put the Dow at a fresh session low. The S&P 500 and the Nasdaq have managed to remain above their lows, though.

Meanwhile, the dollar has pared its losses against compteting currencies. It is now down a relatively moderate 0.2%. DJ30 +33.33 NASDAQ +15.39 SP500 +6.77 NASDAQ Adv/Vol/Dec 1656/951 mln/937 NYSE Adv/Vol/Dec 2112/487 mln/856

12:00 pm : Stocks have started to slip from their session highs. Still, the overall tone this session remains positive as advancing issues outnumber decliners by 3-to-1 in the broader market.

While the mood among equity market participants remains upbeat, Treasuries have managed to make their own gains. In turn, the benchmark 10-year Note is up 12 ticks, which has pulled its yield back to 3.54%. During the previous session the yield on the 10-year eclipsed 3.60% for the first time since August.DJ30 +34.01 NASDAQ +14.79 SP500 +6.71 NASDAQ Adv/Vol/Dec 1667/845 mln/909 NYSE Adv/Vol/Dec 2102/431 mln/833

11:30 am : The Dow is moving sideways, but the Nasdaq is on an upturn to reclaim earlier gains and the S&P 500 has made its way to a fresh session high that puts it just a few points below its 2009 high, which was set earlier this month.

Financials have extended their gains beyond the 1% mark; the sector is now up 1.3%. Life and health insurers are garnering some of the most support, which has them up 2.8% as a group. However, bank stocks have been among the most actively traded names this session.

Citigroup (C 3.48, -0.08) is currently the most actively traded name in the financial sector. It is followed by Wells Fargo (WFC 26.04, +0.38) and Bank of America (BAC 15.39, +0.20). DJ30 +44.37 NASDAQ +16.84 SP500 +7.86 NASDAQ Adv/Vol/Dec 1670/740 mln/858 NYSE Adv/Vol/Dec 2156/382 mln/772

11:00 am : Action has become rather choppy, but the major equity averages continue to sport solid gains.

Utilities have faltered, though; they now trade with a 0.2% loss. Industrials and telecom have also come under a bit of pressure -- the two sectors currently trade with a fractional gain.

Energy stocks and materials stocks are the best performers this session. They are up 1.5% and 1.7%, respectively. The energy sector's strength stems from a 3.1% increase in oil prices to $72.85 per barrel, while a 1.5% gain in gold prices to $1138.80 per ounce has helped diversified metals and mining stocks (+2.3%) drive the materials sector higher. DJ30 +45.35 NASDAQ +13.42 SP500 +7.15 NASDAQ Adv/Vol/Dec 1590/591 mln/907 NYSE Adv/Vol/Dec 2087/309 mln/811

10:35 am : January crude oil began trending upwards early in its overnight session and has remained in positive territory since. Ahead of this morning's inventory data, which calls for a consensus calls of a draw of 2000K, crude is 1.4% higher at $71.67 per barrel. Following the data, which was a draw of 3689K, crude pushes to fresh highs of $72.37 per barrel. Currently, crude is 2.2% higher at $72.27 per barrel.

January natural gas traded in the black overnight, but reversed early this morning and pushed to session lows of $5.438 per MMBtu. Natural gas has since bounced off those lows, temporarily moving back into positive territory before losing its momentum again. Currently, the January contract is trading 0.5% lower at $5.498 per MMBtu.

The US Dollar Index is trading in the red and is just above its morning low, which is providing price support in the precious metals group. February gold and March silver has been in positive territory and have pushed to fresh highs in recent activity to $1140.60 per ounce and $17.715 per ounce, respectively. Gold is currently 1.4% higher at $1138.5 per ounce, while silver is 1.5% higher at $17.71 per ounce.
DJ30 +34.92 NASDAQ +10.19 SP500 +5.25 NASDAQ Adv/Vol/Dec 1489/430.2 mln/939 NYSE Adv/Vol/Dec 1923/229.5 mln/917

10:00 am : The Nasdaq recently set a fractionally improved 52-week high with help from large-cap tech issues, but it has since pulled back a bit.

The broader market has also pulled back a bit from its morning high, but gains remain both broad based and solid.

Only the utilities sector has struggled to put together a healthy gain. It is currently up just 0.1%. Its relative weakness comes as a result of declines in shares of Edison International (EIX 35.92, -0.20) and Allegheny Energy (AYE 23.31, -0.07), which were both downgraded by analysts at Credit Suisse.

Early movers: Trading up -- ACHN +65.1%, MFG +15.7%, GIGM +11.6%, SOL +10.7%, FGXI +8.4%, FBP +8.2%, TAM +7.1%, BEAT +6.5%; Trading down -- PLA -15.4%, TNL -12.9%, BEP -10.8%, NEXS -9.3%, APKT -7.1%, EZCH -6.5%, ME -6.5%

Advancing Sectors: Materials (+1.2%), Energy (+0.9%), Tech (+0.8%), Consumer Discretionary (+0.8%), Financials (+0.7%), Consumer Staples (+0.6%), Health Care (+0.5%), Industrials (+0.3%), Telecom (+0.2%), Utilities (+0.1%)
Declining Sectors: (None)DJ30 +47.24 NASDAQ +17.34 SP500 +6.46 NASDAQ Adv/Vol/Dec 1785/270 mln/593 NYSE Adv/Vol/Dec 2198/160 mln/607

09:45 am : Stocks have put together a solid start that has all 10 major sectors of the S&P 500 in positive territory. The broad-based move has helped the major indices reclaim their losses from the prior session.

Materials stocks are up 1.0%, more than any other major sector. Their advance comes as commodity prices push higher amid a 0.3% decline in the Dollar Index.

Meanwhile, large-cap tech has helped the Nasdaq look especially strong in the early going. Its initial run has taken it back near its 52-week high, which was set this past Monday. DJ30 +51.62 NASDAQ +16.32 SP500 +6.64 NASDAQ Adv/Vol/Dec 1805/168 mln/515 NYSE Adv/Vol/Dec 2190/120 mln/541

09:15 am : S&P futures vs fair value: +5.30. Nasdaq futures vs fair value: +6.00. Stock futures have spent most of this morning pointing toward a higher start for the major indices, though the size of the expected initial gain has narrowed as the Dollar Index trims its losses. There haven't been any major corporate announcements this morning, but an in-line November CPI and an in-line increase in the rate of housing starts have helped keep this morning's overall positive tone intact. The focus of most market participants now turns toward the latest policy statement from the Federal Open Market Committee (FOMC). The FOMC is expected to leave its target lending rate unchanged from the range 0.00% to 0.25%, but any alterations to the language of the FOMC's actual statement could move participants to action.

09:00 am : S&P futures vs fair value: +5.30. Nasdaq futures vs fair value: +5.80. U.S. stock futures continue to suggest a higher start for today's trading session. Meanwhile, Germany's DAX has already made its way to a 1.1% gain. Deutsche Bank (DB) is a primary leader ast it stages a gain of more than 4% on the German bourse. That advance marks its third straight gain. In France, the CAC is up 0.8%. Financial outfits BNP Paribas, AXA (AXA), and Societe Generale currently provide the most support to the advance. Gains are more modest in Britain, where the FTSE is up just 0.2%. European banking giant HSBC (HBC) has provided the strongest lift thus far, but BP PLC (BP) has been a bit of a drag on trade. According to reports, the number of jobless claims in the U.K. fell in November for the first time since the recession began, while Reuters reported that the euro zone's service sector grew again during early December. The December Eurozone Flash Services Purchasing Managers Index hit 53.7, which is its highest level since November 2007. It was also a bit stronger than expected. In Asia, Japan's Nikkei advanced 0.9%. Bank stocks outperformed after a report indicated that global banking regulators are considering delaying the implementation of new capital rules. That sent shares of Mizuho Financial (MFG) 15% higher and Sumitomo Mitsui Financial Group to 14% gain. In Hong Kong, the Hang Seng slipped 0.9%. Banks were a drag there, though, as China Construction Bank shed 2% and Bank of China lost more than 1%. In mainland China, the Shanghai Composite closed with a 0.6% loss. Meanwhile, the MSCI Asia Pacific Index closed with a 0.2% gain.

08:35 am : S&P futures vs fair value: +5.60. Nasdaq futures vs fair value: +7.80. This morning's positive tone remains intact following the latest dose of data. The data featured a Consumer Price Index for November that made a 0.4% month-over-month increase, which is in step with the consensus estimate, but slightly sharper than the 0.3% monthly increase that was posted in October. Excluding food and energy, consumer prices were flat for the month; they had been expected to rise 0.1% after a 0.2% monthly increase in October. Meanwhile, housing starts for November came in at an annualized rate of 574,000, which is spot on with the consensus and up from the rate of 527,000 that was posted in October. Building permits for November hit an annualized rate of 584,000, which is better than the 570,000 that had been forecast. It is also better than the rate of 551,000 that was registered in october. Separately, the current account balance for the third quarter hit a $108 billion deficit, which is in step with expectations, but deeper than the $98 billion deficit that had previously been posted.

08:00 am : S&P futures vs fair value: +5.80. Nasdaq futures vs fair value: +7.80. Coming up at the bottom of the hour are the latest CPI figures and housing starts figures, but after that the primary focus of participants will be on the latest FOMC policy statement (2:15 PM ET). Fed fund futures currently place 100% probability on keeping the target Fed funds rate between 0.00% and 0.25%, but many participants will listen closely for hints of changes to policy sooner than later. Meanwhile, the U.S. dollar is down a bit against competing currencies. That has helped prop up stock futures in premarket trade. There hasn't been much in the way of corporate news, but participants anticipate that Citigroup (C) will soon price its common stock offering that is intended to help it repay TARP funds.

06:19 am : S&P futures vs fair value: +7.50. Nasdaq futures vs fair value: +12.00.

06:19 am : Nikkei...10177.41...+93.90...+0.90%. Hang Seng...21611.74...-202.20...-0.90%.

06:19 am : FTSE...5318.88...+33.20...+0.60%. DAX...5884.07...+72.90...+1.30%.

M.A. Perry
Trader and Founder of WRB Analysis (wide range body analysis)
Go Back To TheStrategyLab.com Homepage


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