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 Post subject: January 29th Friday 2010 Emini TF ($TF_F) points +11.90
PostPosted: Sat Jan 30, 2010 8:43 am 
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Written By M.A. Perry
Trader and Founder of WRB Analysis (wide range body analysis)

Trade journals are crucial in preventing us traders from becoming complacent or content with our trading plan or the markets because without having the ability to review archives of past trading days in a forever changing market...we won't know it's time to adapt when change occurs in the markets because broker statements alone doesn't help us keep that edge in comparison to a trade journal. In addition, although this journal contains advertisements involving my trade methods, it does contain useful trading tips a few times per week. Thus, if you're looking for trading tips that can improve your trading and understand that profitable trading involves more than just entry signals...consistently read this trade journal and the #FuturesTrades chat room logs where I post my trades in real-time from entry to exit (see link below) via my IRC user name wrbtrader that's the same as my user name on twitter.

Today's #FuturesTrades chat room logs is archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=70&t=438.

Quote:
Today's results are 18 wins : 18 losses : 1 breakeven. I saw the low volatility trading range out of the gate and it lasted late into the mid-day trading session until increasing volatility showed up. However, I decided to keep my profit goal at 25 points via trying to catch a big trade in price action durations I normally don't trade (e.g. mid-day). In addition, the only thing I did different today was to use the second charts along with my minute charts. Usually I use one or the other but rarely both at the same time. Regardless, 60% of the losses was at a profit but not at my profit target nor had they reached my trigger price to move my initial stop/loss protection into a profitable trailing stop. Another 15% of my losses occurred via poor trade management after entry. Anyways, I didn't catch that big trade and mainly spent the trading day in the mid-day to the close controlling the size of my losses while trying to catch a few runners (not the big trade). Summary, today occurs a few times each month and as long as it doesn't become the norm...not worth losing any sleep about it because the next trading day usually goes much smoother for me.

Trading Tip: Fixed proft targets makes it very difficult to let a profitable trade continue beyond it's 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, if you're interested in having free access to one of my profitable trade strategies along with earning extra income with little effort...join my referral program @ http://www.thestrategylab.com/ReferralProgram.htm

My Trading Performance: +11.90 points in the ICE Russell 2000 Emini TF ($TF_F) Futures

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Nasda Battered As Techs Slump
By Alexandra Twin, senior writer
January 29, 2010: 7:01 PM ET

NEW YORK (CNNMoney.com) -- Stocks tumbled Friday, with the tech-heavy Nasdaq leading the way down, as investors bet that the strong economic growth seen in the fourth quarter of last year can't be sustained.

The Dow Jones industrial average (INDU) lost 53 points, or 0.5%. The S&P 500 index (SPX) lost 11 points, or 1%. The Nasdaq composite (COMP) fell 31 points, or 1.5%. The Dow and S&P 500 closed at the lowest point since Dec. 6 of last year and the Nasdaq at the lowest point since Nov. 30.

Technology and commodity shares led the declines for the second session in a row, following Thursday's big selloff.

"I think some of this is an indictment of what we're seeing in the economy," said Don DeWaay, CEO at DeWaay Capital Management. "People are realizing that although GDP growth was good in the fourth quarter of last year, 2010 isn't going to be as strong as had been thought."

January: For the month of January, the Dow lost 3.5%, its biggest monthly loss since Feb. 2009, when it fell 11.7%. The S&P 500 lost 3.7%, its biggest monthly loss since Feb. 2009, when it lost 11%. The Nasdaq composite lost 5.4%, for its biggest monthly loss since Feb. 2009, when it gave up 6.7%.

This was a bad sign for those who follow the January Barometer, which says that as January goes, so goes the year. More specifically, as the S&P 500 goes, so goes the year, according to the Stock Trader's Almanac. Since 1950, all down Januarys were followed by a new or continuing bear market, a 10% correction or a flat market, meaning less than 5% higher or lower than where the year began.

However, the indicator is best taken with a grain of salt, as markets can still produce gains within long-term bear markets. For example, in 2003, the S&P lost 2.7% but still ended the year up 26.4%.

Friday's market: Stocks rallied through the morning as the stronger-than-expected GDP report seemed to soothe some of the market's recent worries. Better-than-expected readings on consumer sentiment and manufacturing also gave stocks an initial pop.

But the worries of the last two weeks resurfaced as the session wore on. Last week's selloff was sparked by worries about China's bank reserves and the Obama administration's plan to restrict trading by big banks.

The stock selloff was fairly broad based, although technology led the way. Intel, Microsoft, IBM, Apple and Hewlett-Packard were among the big decliners.

Treasury prices rose in a classic bid-to-safety move and the dollar firmed up versus other major currencies. The Vix (VIX), Wall Street's so-called fear gauge, climbed 3.8% as the stock selloff took hold.

Stocks tumbled Thursday after a cautious outlook from Qualcomm decked techs. A Standard & Poor's report saying the U.K.'s banking system is no longer one of the most stable and low risk also played a role in the selling.

On the upside, Federal Reserve Chairman Ben Bernanke was confirmed for a second term Thursday, ending the uncertainty that had hung over the market of late.
No redactions! AIG reveals the full story

GDP: Gross domestic product, the broadest measure of the economy, grew at a 5.7% annual rate in the fourth quarter, better than forecast and more than double the pace it grew in the third quarter. Economists surveyed by Briefing.com thought GDP would grow at a 4.7% annual rate after it grew at a 2.2% rate in the previous quarter.

Economy: In other economic news, the consumer sentiment index from the University of Michigan rose to 74.4 from 72.8 previously. Economists surveyed by Briefing.com thought it would rise to 73, according to Briefing.com estimates.

The Chicago PMI, a regional reading on manufacturing, rose to 61.5 from 58.7 previously. Economists thought it would fall to 57.2.

Jobs: President Obama is set to unveil a $33 billion package of tax credits later Friday aimed at sparking more job growth. The plan includes providing a $5,000 tax credit for each net new employee a business hires.
0:00 /5:49Frank: Reform is coming

Quarterly results: Two tech bellwethers reported results after the close of trade Thursday.

Dow component Microsoft (MSFT, Fortune 500) reported higher quarterly sales and earnings that beat estimates, thanks to strong sales of Windows 7, the company's newest operating system. Nonetheless, shares fell 4% in the big tech selloff.

Amazon.com (AMZN, Fortune 500) reported higher quarterly sales and earnings that topped estimates. Shares fell 1% Friday.

With 220 companies, or 44% of the S&P 500 having already reported results, earnings are on track to have grown 206% from a year earlier, according to the latest estimates from earnings tracker Thomson Reuters. Revenue is on track to have grown 7% versus a year earlier.

Companies are benefiting from continued cost-cutting in the aftermath of the recession and from easy comparisons to the prior year. The fourth quarter of 2008 was the worst for quarterly profits in Thomson's 15-year history.

However, much of the year-over-year growth is concentrated in the financial sector, which reported a loss in 2008 and is on track to report big profits for 2009. Strip out financial sector earnings and overall earnings growth drops to 15%, while revenue growth drops to 2%.

World markets: Asian markets tumbled, extending the recent selloff amid China's bank lending curbs and S&P's warning that it may cut Japan's debt. European markets rallied, with the London FTSE up 0.8%, the German DAX up 1.2% and the French CAC 40 up 1.4%.

Commodities and the dollar: The dollar gained versus the euro and the yen.

COMEX gold for February delivery fell 60 cents to $1,083 an ounce. Gold closed at an all-time high of $1,218.30 an ounce last month.

U.S. light crude oil for February delivery fell 75 cents to $72.89 a barrel on the New York Mercantile Exchange.

Bonds: Treasury prices rallied, lowering the yield on the 10-year note to 3.61% from 3.64% late Thursday. Treasury prices and yields move in opposite directions.

Image

Yahoo! Finance

4:30 pm : A better-than-expected GDP report couldn't keep stocks from selling off and logging their third straight weekly loss, which has left the stock market down nearly 4% since the start of the new year.

Stocks started the session in positive territory and even made their way to a gain of more than 1%. The move was underpinned by an advance fourth quarter GDP reading that showed annualized quarter-over-quarter growth of 5.7%, which was considerably stronger than the 4.7% rate of expansion that had been widely forecast. Core personal consumption expenditures (PCE) increased at an annualized quarter-over-quarter rate of 1.4%, which is slightly stronger than the 1.3% increase that had been expected.

Though Fed member Kohn indicated in a speech that interest rates are likely to stay near zero for an extended period if the economy follows the trajectory expected by the Fed, signs of strong economic growth brought back speculation that interest rates will be hiked sooner than later. That notion drove the dollar 0.7% higher against competing currencies and put the Dollar Index at a fresh five-month high.

The notion of a stronger economy also looked like it would reheat the reflation trade as commodities and natural resource stocks climbed sharply. The energy sector climbed to a 1.7% gain, while the materials sector made its way to a 2.1% gain. However, both commodities and natural resource stocks rolled over, which culminated in a 1.4% loss for both energy stocks and materials stocks. The two sectors had been the best performers in the early going, but ended the session among the worst performers.

Tech dropped 2.1% to finish the session with the steepest loss, though. Microsoft (MSFT 28.18, -0.98) led other large-cap tech lower as participants reacted in a sell-the-news manner to the computer giant's better-than-expected earnings report. Given that tech carries more market weight than any other sector, its weakness in recent sessions has caused a considerable drag on the broader market. During the course of the past 10 sessions tech stocks have dropped more than 9%, leaving the S&P 500 to lose 6.5% over the same period.

The drag of tech on the broader market was also seen in shares of Amazon.com (AMZN 125.41, -0.62), which tested three-week highs after the company posted an upside earnings surprise and issued upside guidance. But the stock rolled over to log a loss.

In a sign of conviction, trading volume on the NYSE surpassed 1.5 billion shares. That was the most action in one month.

Advancing Sectors: (None)
Declining Sectors: Tech (-2.1%), Energy (-1.4%), Materials (-1.4%), Industrials (-1.0%), Financials (-0.7%), Consumer Discretionary (-0.6%), Utilities (-0.6%), Health Care (-0.5%), Telecom (-0.4%), Consumer Staples (-0.2%)DJ30 -53.13 NASDAQ -31.65 NQ100 -1.7% R2K -1.0% SP400 -1.4% SP500 -10.66 NASDAQ Adv/Vol/Dec 929/3.10 bln/1729 NYSE Adv/Vol/Dec 955/1.58 bln/2065

3:35 pm : Strength in the dollar index this session led to modestly lower commodity prices. The Dollar index is currently up 0.7%, and is now at a five-month high. Its strength can be attributed to better-than-expected economic growth in the U.S. A weak euro is also providing strength in the dollar index.

In turn, precious metals moved lower this session. Both gold and silver futures were volatile following the release of the Q4 GDP report, however, strength in the dollar brought precious metals prices lower for most of the session. February gold closed 1.2% lower at $1089.70 and March silver closed 3.3% lower at $16.93.

Much like the dollar, crude oil futures spiked higher in reaction to the Q4 GDP report. Crude oil futures trended lower for the rest of the session, however, from highs hit soon after the GDP report was released. March crude oil closed 1.0% lower at $72.88 per barrel. Natural gas futures traded with gains early in the session, but sold off as crude oil moved lower and the dollar moved higher. March natural gas closed relatively unchanged at $5.13 per MMBtu.DJ30 -70.06 NASDAQ -37.91 SP500 -12.72 NASDAQ Adv/Vol/Dec 844/2.55 bln/1811 NYSE Adv/Vol/Dec 865/957 mln/2153

3:00 pm : After spending the last couple of hours trading in mixed fashion, stocks are on the slide. The downward move has been broad based, but tech continues to be a primary source of weakness -- the sector is down 2.4%.

The recent retreat puts the broader market on track for a weekly loss of roughly 1%. Such a move lower would mark the stock market's third straight weekly loss. Such a streak hasn't happened since this past summer, when the stock market fell for four straight weeks. DJ30 -27.97 NASDAQ -32.07 SP500 -9.05 NASDAQ Adv/Vol/Dec 985/2.26 bln/1640 NYSE Adv/Vol/Dec 1131/828 mln/1861

2:30 pm : Materials stocks are now down 0.2% as participants turn up the pressure against the sector that had been up more than 2% at its session high. The reversal comes as participants shrug off this morning's better-than-expected fourth quarter GDP report and renewed weakness among large-cap tech bleeds into the broader market.

Volatility has been subdued this session. Specifically, the Volatility Index is down 0.4% at the moment. Meanwhile, trading volume has been relatively average so far this session. DJ30 +11.18 NASDAQ -17.75 SP500 -2.53 NASDAQ Adv/Vol/Dec 1169/2.00 bln/1431 NYSE Adv/Vol/Dec 1401/739 mln/1584

2:00 pm : Pressure has intensified against tech stocks. In turn, the tech sector is now down 1.6%. That's more than three times the loss of the energy sector, which is the second worst performing sector this session.

The energy sector is now down 0.5% after it had been up more than 1.5% in the early going. Its recent pullback comes amid a retreat in oil prices, which had also been up more than 1%, but are now down to a 0.7% loss at $73.15 per barrel. DJ30 +11.64 NASDAQ -15.92 SP500 -2.20 NASDAQ Adv/Vol/Dec 1165/1.81 bln/1411 NYSE Adv/Vol/Dec 1421/670 mln/1534

1:30 pm : Stocks continue to chop around in mixed fashion as large-cap tech lags and cyclical stocks continue to sport gains. The two factors have left the broader market to balance along the 1085 line, which some technical traders point to as a critical near-term support line.

As an aside, please note that the previous comment indicated that Fed member Kohn reaffirmed the recent FOMC policy directive that interest rates are expected to remain at exceptionally low levels for an extended period, but this may have been somewhat misleading. Kohn specifically stated that if the economy follows the trajectory expected by the Federal Reserve, short-term interest rates are likely to stay near zero for an extended period. The original comment has since been modified.DJ30 +36.65 NASDAQ -7.50 SP500 +1.19 NASDAQ Adv/Vol/Dec 1319/1.66 bln/1260 NYSE Adv/Vol/Dec 1650/616 mln/1293

1:05 pm : The stock market made its way to a 1% gain after a strong fourth quarter GDP number spurred buying in cyclical plays, but large-cap tech issues have fallen under renewed weakness that has led to selling among the materials and energy sectors.

News that the U.S. economy grew at a stronger-than-expected annualized rate of 5.7% in the fourth quarter helped provide support to the broader market in the early going, but natural resource names in the energy sector and materials sector gained the most as they advanced more than 1.5%. However, the two sectors have since run into resistance, which has left them with more modest gains of 0.6% and 0.1%, respectively.

Though they are off of their highs, their gains come in the face of a 0.6% gain by the dollar. The notion that a stronger economy will give way to an interest rate hike rate sooner than later has helped the greenback make its way to a fresh five month high. However, in a speech, Fed member Kohn did express that if the economy follows the trajectory expected by the Fed, interest rates are likely to stay near zero for an extended period.

More losses among large-cap tech have caused the Nasdaq to underperform its counterparts once again. Even better-than-expected numbers from Microsoft (MSFT 28.72, -0.44) haven't helped the index. Amazon.com (AMZN 128.85, +2.82) has offered some support to the Nasdaq, though. It has also helped retailers steadily outperform the broader market. Retailers are currently up 1.0%. DJ30 +37.94 NASDAQ -5.17 SP500 +1.06 NASDAQ Adv/Vol/Dec 1329/1.55 bln/1226 NYSE Adv/Vol/Dec 1675/572 mln/1269

12:30 pm : After hitting session lows about thirty minutes ago, the major averages have ticked higher and are now essentially flat on the day. Two sectors of particular strength that have lifted the market include retail (+0.97%) and the financials (+0.50%). The Nasdaq continues to lag however, as that index is still in the red for the session. DJ30 +29.6 NASDAQ -6.5 SP500 +0.9 NASDAQ Adv/Vol/Dec 1305/1.395/1232 NYSE Adv/Vol/Dec 1609/510.7/1284

12:00 pm : The stock market recently retreated to the neutral line, but was able to garner support there. Meanwhile, the Dollar Index continues to push higher, such that it is now up 0.6% to a fresh five-month high.

Commodities remain mixed amid the greenback's gains. In turn, the CRB Commodity Index is up just 0.1%. However, it remains down 2.2% week-to-date. That puts it on track for its third straight weekly loss in excess of 2%. DJ30 +36.20 NASDAQ -0.62 SP500 +2.07 NASDAQ Adv/Vol/Dec 1351/1.24 bln/1159 NYSE Adv/Vol/Dec 1615/457 mln/1266

11:30 am : Stocks have extended their recent retreat, such that the Nasdaq is now in negative territory with a slight loss. The Nasdaq's losses is largely linked to weakness among tech issues, which are down 1.0%.

Though the broader S&P 500 now trades with a modest gain after it was up more than 1% at its session high, cyclical plays continue to provide support. As such, shares of retailers are up 0.9%, while materials stocks and energy stocks are up 0.6%. DJ30 +13.75 NASDAQ -5.67 SP500 +1.44 NASDAQ Adv/Vol/Dec 1435/1.07 bln/1040 NYSE Adv/Vol/Dec 1772/396 mln/1095

11:00 am : Stocks recently pushed to fresh session highs, where the S&P 500 sported a 1.1% gain, but stocks have since pulled back. Still, gains remain solid and broad based.

Microsoft (MSFT 28.96, -0.20) is currently the most heavily traded stock by volume in the S&P 500. The computer giant posted better-than-expected adjusted earnings for its latest quarter. Fellow large-cap tech issues Qualcomm (QCOM 39.97, -0.51) and Intel (INTC 19.92, +0.00) are also among the five most actively traded names by volume in the broader market. However, all three names have lagged the broader market's gains this session. DJ30 +77.08 NASDAQ +10.68 SP500 +7.14 NASDAQ Adv/Vol/Dec 1692/770 mln/726 NYSE Adv/Vol/Dec 2144/301 mln/712

10:35 am : The US Dollar Index is higher this morning, pressuring commodities and the precious metals market in particular.

March crude is bouncing off the unchanged line again and is currently 0.9% higher at $74.32 per barrel. March natural gas has traded in positive territory all session. It recently hit session highs of $5.285 per MMBtu and is currently trading 1.7% lower at $5.227 per MMBtu.

February gold hit morning lows minutes ago at $1076.70 per ounce, while March silver hit lows of $16.045. Gold is currently 0.% lower at $1078.60 per ounce. Silver is 0.7% lower at $16.105 per ounce.DJ30 +111.24 NASDAQ +22.57 SP500 +11.14 NASDAQ Adv/Vol/Dec 1748/619.1 mln/628 NYSE Adv/Vol/Dec 2227/239.0 mln/587

10:00 am : The final consumer sentiment survey for January from University of Michigan came in at 74.4, which is better than the 73.0 reading that many had forecast, but the report hasn't helped stocks extend their morning advance. Though the major indices remain in positive territory, action in the broader market remains quite choppy.

Energy and materials stocks have managed to make their way higher, though. The two sectors are up 1.5% and 1.3%, respectively.

Health care and telecom stand out as early laggards. Both sectors are only fractionally into the green.

Early movers: Trading up -- ARBA +17.2%, ISSI +12.3%, RDK +11.6%, PMCS +9.3%, ATV +9.2%, ALV +7.6%, SHAW +7.3%, LAB +7.2%, LSCC +7.1%, IBN +6.9%; Trading down -- YTEC -43.3%, CPSI -15.4%, QTM -12.8%, NEU -11.1%, OFG -10.5%, CIE -9.8%, AVY -9.8%, THRX -9.4%, ARG -8.7%

Advancing Sectors: Energy (+1.5%), Materials (+1.3%), Consumer Discretionary (+1.1%), Industrials (+0.8%), Financials (+0.6%), Consumer Staples (+0.6%), Tech (+0.4%), Utilities (+0.4%), Telecom (+0.1%)
Declining Sectors: (None)
Unchanged: Health CareDJ30 +71.87 NASDAQ +17.17 SP500 +7.67 NASDAQ Adv/Vol/Dec 1636/354 mln/594 NYSE Adv/Vol/Dec 2003/148 mln/662

09:45 am : Despite some choppy action in the opening minutes, stocks have made a strong push higher. The move has been led by natural resource plays in the energy (+1.1%) and materials (+1.0%) sectors. The two groups have been helped by a better-than-expected fourth quarter GDP report, which lends support to the reflation trade.

More impressive about the leadership from natural resource plays is that their gains come in the face of a firmer dollar. Specifically, the greenback has gained 0.4% against a basket of foreign currencies -- that has the Dollar Index at a fresh five-month high. DJ30 +69.45 NASDAQ +18.89 SP500 +7.54 NASDAQ Adv/Vol/Dec 1603/240 mln/579 NYSE Adv/Vol/Dec 2030/108 mln/631

09:15 am : S&P futures vs fair value: +5.20. Nasdaq futures vs fair value: +16.00. Down roughly 0.7% week-to-date, the stock market looks to be on track for its third stright weekly loss. However, an encouraging fourth quarter GDP report that showed stronger-than-expected growth versus the prior quarter and little inflationary pressure has helped bring about support for stocks. Though participants have frequently acted in a sell-the-news manner this earnings season, another flood of better-than-expected earnings results has also helped from a sentiment standpoint. In turn, stock futures point to a higher start for this week's final session. Such a move would come in the face of a stronger dollar, which is up 0.4% against a basket of foreign currencies. Still to come this morning, though, is the final consumer sentiment reading for January from University of Michigan -- it is schedualed for 9:55 AM ET.

09:00 am : S&P futures vs fair value: +5.80. Nasdaq futures vs fair value: +19.00. Despite news that unemployment in the 16 countries that use the euro hit 10% in December for the first time since 1999, Europe's major bourses have extended their gains in the wake of upbeat GDP data from the U.S. Germany's DAX has made its way to a 1.5% gain amid leadership from Deutsche Bank (DB) and Daimler (DAI), both of which were also leaders in the previous session. BMW has also gained solid ground, thanks to an upbeat sales forecast. In France, the CAC is up 1.6%. Total (TOT) is up sharply, but BNP Paribas has also staged a strong advance after an upgrade from analysts at Societe Generale. Meanwhile, Britain's FTSE is up 1.4%. HSBC (HBC) is a primary leader there, but natural resource plays BP PLC (BP), Rio Tinto (RTP), and BHP Billiton (BHP) have also provided support. In Asia, the final session of the week saw the MSCI Asia Pacific Index lose 1.7% and Japan's Nikkei drop 2.1%. Advantest (ATE) rolled over after it stated that it now expects a deep annual net loss. Nippon Steel also fell after it forecast its first annual net loss in years. Sellers kept the pressure on Toyota Motor (TM), too -- the stock has tumbled more than 10% this week. Honda Motor (HMC) was weakened by a stronger yen. In Hong Kong, the Hang Seng fell 1.2% as investors banks fell under renewed pressure amid ongoing concern regarding Beijing's moves to curb lending. That left China Construction Bank and Industrial Commercial Bank of China to slide. 2.1% lower. Exporter Li & Fung soared, though. It announced an outsourcing deal to supply Wal-Mart (WMT) with goods valued at $2 billion in the first year. Mainland China's Shanghai Composite slipped a more modest 0.2%.

08:35 am : S&P futures vs fair value: +6.30. Nasdaq futures vs fair value: +16.00. Stock futures have spiked higher in conjunction with the Advance fourth quarter GDP reading, which wowed with annualized quarter-over-quarter growth of 5.7% after the prior quarter's 2.2% growth rate. The consensus had called for 4.7% growth in the fourth quarter. The personal consumption component increased 2.0%, which is stronger than the 1.8% increase that had been widely forecast after the previous quarter's 2.8% increase. Core personal consumption expenditures (PCE) increased at an annualized quarter-over-quarter rate of 1.4%, which is stronger than the 1.3% increase that had been expected after a 1.2% rise in the prior quarter. Meanwhile, the GDP Price Index increased 0.6%, which is less sharp than the 1.3% hike that had been expected, but up a bit from the previous quarter's 0.4% increase.

08:00 am : S&P futures vs fair value: +1.70. Nasdaq futures vs fair value: +7.80. Stock futures are up a bit ahead of the Advance fourth quarter GDP report, which is due at the bottom of the hour. The consensus calls for annualized quarter-over-quarter growth of 4.7%. The announcement comes on the heels of Ben Bernanke's reconfirmation to Fed Chairman. Premarket participants have also had time to chew on another big batch of earnings announcements. Overall results remain pleasing as Amazon.com (AMZN) brought in better-than-expected bottom line results and issued upside guidance, while Microsoft (MSFT) also exceeded earnings expectations. Honeywell (HON) offered an upside earnings surprise, as well.

06:21 am : S&P futures vs fair value: -0.50. Nasdaq futures vs fair value: +2.30.

06:20 am : Nikkei...10198.04...-216.30...-2.10%. Hang Seng...20121.99...-234.40...-1.20%.

06:20 am : FTSE...5179.11...+33.50...+0.70%. DAX...5585.01...+44.70...+0.80%.

Special thanks to Yahoo! Finance and CNNMoney for their market summaries. gm

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

Phone: +1 708 572-4885
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