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 Post subject: February 3rd Wednesday 2010 Emini TF ($TF_F) points +14.50
PostPosted: Wed Feb 03, 2010 5:33 pm 
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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=71&t=441.

Quote:
Today's results are 11 wins : 7 losses. I was able to control my losses today except for one trade that was almost a trail stop hit @ -1.5 but I was able to close the loser fast during the volatility spike for only a -1.3 loss. Best trade of the day for me was a Short position 1015am - 1020am est but did an early exit for personal reasons. A key change in supply/demand @ 1306pm est via the 3min chart would have help anyone to manage that trading range until 1527pm est along with having a few Long signals via the Volatility Trading Report (VTR).

Trading Tip: Trading between 3:45pm - 4:15pm est has more reliability and/or follow through to profit targets during news, economic or earnings report events.


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: +14.50 points in the ICE Russell 2000 Emini TF ($TF_F) Futures

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Stocks Struggle After Rally
By Alexandra Twin, senior writer
February 3, 2010: 6:02 PM ET

NEW YORK (CNNMoney.com) -- Stocks slipped Wednesday, as two-session advance lost steam after a weak reading on the services sector of the economy and a mixed reading on the labor market unsettled investors.

After the close, Cisco Systems (CSCO, Fortune 500) and chipmaker Novellus (NVLS) reported better-than-expected quarterly sales and earnings.

The Dow Jones industrial average (INDU) lost 26 points, or 0.3%. The S&P 500 index (SPX) fell 6 points, or 0.6%. The Nasdaq composite (COMP) was little changed.

Stocks slipped through most of the session as investors mulled the implications of a weaker-than-expected reading on the services sector of the economy, and mixed reports on the jobs market, ahead of Friday's big monthly payrolls report.

Pfizer's weaker-than-expected earnings and outlook and a selloff in banks were also in the mix. A rally in the greenback dragged on dollar-traded commodities. Treasury bond prices tumbled, raising the corresponding yields.
Meet the market's biggest losers

The slight pullback followed a rally on the first two days of February, following a January slump that was Wall Street's worst monthly decline since February 2009. Some of the concerns of last month remain in place in February, however, and could cut into any additional rally attempts in the near term.

Worries about China's bank lending curbs and the Obama administration's plans to restrict bank trading led the January selloff. But investors may also have been pleading exhaustion after a big rally in 2009, in which the S&P 500 gained 23.4%.

"The tone of the market is not as good right now as it was last year," said Will Hepburn, chief investment officer at Hepburn Capital Management. He said that asset deterioration and worries about the ballooning deficit are overshadowing improved profit reports.

Meanwhile, investors are looking for more indications that a recovery is taking hold, after pushing stocks higher last year in anticipation of such a rebound.

Jobs market: Investors considered a pair of employment reports that painted a mixed picture ahead of Friday's big January jobs reading from the government.

Payroll services firm ADP reported that employers in the private sector cut 22,000 jobs in January following a revised loss of 61,000 jobs in December. Economists surveyed by Briefing.com had forecast a loss of 30,000.

Meanwhile, outplacement firm Challenger, Gray & Christmas reported that announced layoffs in January rose to a five-month high of 71,482 from 45,094 in December.

In other economic news, the Institute for Supply Management's services sector index rose to 50.5 in January from 49.8 in the previous month. Economists had thought it would rise to 51.

Quarterly profits: Dow component Pfizer (PFE, Fortune 500) reported higher quarterly earnings that missed estimates, on higher revenue that topped estimates. The drugmaker, which finished its $67 billion purchase of fellow drugmaker Wyeth in October, also forecast 2010 earnings that are short of analysts' estimates.

Looking out further, Pfizer forecast 2011 revenue that is in line with estimates and 2012 revenue that is short of its forecast from a year ago. Shares fell 3%.

Time Warner (TWX, Fortune 500) reported sales and earnings that rose from a year ago, in its first quarterly report without AOL in a decade. The media company, which is the parent of CNNMoney.com, benefited from strength in its TV and movie divisions, as well as some cost cutting at its Time Inc. brand. Time Warner also raised its dividend.

Shares fell 2%.

AOL (AOL) -- in its first quarter in a decade as a stand-alone Internet company -- said it swung to a profit of $1.4 billion from a loss of $1.9 billion a year ago. Shares were little changed.

News Corp. (NWS, Fortune 500) reported quarterly earnings and revenue after the close Tuesday that jumped from a year earlier and topped expectations. Shares gained 6% Wednesday.

On the move: Among stock movers, financial shares slipped, with the KBW Bank (BKX) sector index falling 2%.

Wells Fargo lost 2% and a number of the regional banks declined as well, including Fifth Third Bancorp (FITB, Fortune 500), Regions Financial (RF, Fortune 500) and SunTrust.

Among other movers, McDonald's (MCD, Fortune 500) shares rose 2% after Goldman Sachs reportedly added it to its Americas conviction buy list, saying it expects earnings growth at the company in 2010.

Market breadth was negative. On the New York Stock Exchange, losers beat winners by three to two on volume of 1.06 billion shares. On the Nasdaq, decliners topped advancers three to two on volume of 2.34 billion shares.

Toyota: Shares of Toyota (TM) slumped 6% amid the continued fallout from its recall of millions of vehicles for sticking gas pedals.

Department of Transportation Secretary Ray LaHood said owners should bring cars to a dealer to get help. Earlier, LaHood told a Congressional panel that Toyota owners should stop driving their cars and bring them back for repairs. He called the earlier statement a "misstatement."

On Monday, the automaker said it will fix millions of gas pedals in recalled vehicles, eliminating a problem that caused the pedals to stick, which prompted the recall of 2.3 million vehicles in the United States. Toyota also recalled over five million vehicles due to risks that floor mats could become stuck on floor pedals.

The company is also now facing numerous complaints about brake problems in its 2010 Prius.
0:00 /3:40Job market: gradually growing

World markets: In overseas trading, Asian markets ended higher, gaining for a third straight session after last week's selloff. European markets tumbled too.

Commodities and the dollar: The dollar gained versus the euro and the yen, pressuring dollar-traded commodities.

COMEX gold for April delivery fell $6 to settle at $1,112 an ounce.

U.S. light crude oil for March delivery fell 25 cents to settle at $76.98 a barrel on the New York Mercantile Exchange.

Bonds: Treasury prices tumbled, raising the yield on the 10-year note to 3.70% from 3.64% late Tuesday. Treasury prices and yields move in opposite directions.

Image

Yahoo! Finance

4:30 pm : Support for large-cap tech helped the Nasdaq Composite recover from the red to finish flat, but weakness in the broader market left the S&P 500 to chop along in negative territory as participants looked past several positive headlines and strong gains by China's markets.

China's Shanghai Composite and Hong Kong's Hang Seng both booked gains in excess of 2% in their latest session as a couple of banks tightened lending in order to head off government mandates. However, neither those gains nor news that the ADP Employment Report showed a smaller-than-expected loss of 22,000 private sector jobs in January aroused support. An in-line reading of 50.5 for the January ISM Services Index was also dismissed.

Given the stock market's strong gains in the two previous sessions, buyers opted to take a break from this session's action. That's not to say that sellers reclaimed control, though; overall losses were contained.

Large-cap tech traded with strength and helped the tech sector net a 0.3% gain and the Nasdaq 100 finish the session 0.4% higher. The Nasdaq Composite finished flat as weakness among its other issues undermined its performance. Cisco (CSCO 23.07, +0.05) saw mixed interest ahead of its latest quarterly report. Still, that was an improvement from the 0.6% loss that it displayed at its session low.

Financials were particularly weak. They logged a loss of 1.4%, unable to rally around better-than-expected earnings from insurers Aflac (AFL 50.94, +1.24) and MetLife (MET 34.80, -1.57). Aflac was able to win itself support with an upside forecast, though.

Dow component Pfizer (PFE 18.62, -0.44) fell short of Wall Street's consensus earnings estimate. That encouraged pressure against other pharmaceutical stocks, which lost a collective 1.4%. The broader health care sector shed 1.1%.

Advancing Sectors: Tech (+0.3%), Consumer Discretionary (+0.2%)
Declining Sectors: Financials (-1.4%), Health Care (-1.1%), Materials (-1.0%), Telecom (-0.8%), Energy (-0.8%), Utilities (-0.8%), Consumer Staples (-0.5%), Industrials (-0.4%)DJ30 -26.30 NASDAQ +0.85 NQ100 +0.4% R2K -0.6% SP400 -0.7% SP500 -6.04 NASDAQ Adv/Vol/Dec 1077/2.32 bln/1526 NYSE Adv/Vol/Dec 1162/1.06 bln/1856

3:30 pm : Oil prices showed little reaction to a larger-than-expected build in weekly oil inventories and even made their way into positive ground for part of pit trade. The move proved unsustainable, though, as prices settled with a modest 0.3% loss at $76.98 per barrel. The modest pullback comes after oil prices advanced some 2% Monday and nearly 4% Tuesday.

Meanwhile, natural gas prices retreated 0.8% to $5.41 per contract. Weekly natural gas inventory data is due tomorrow morning.

Precious metals also showed weakness. Specifically, gold prices shed 0.3% to close pit trade at $1111.30 per ounce, while silver prices fell 2.2% to settle at $16.37 per ounce.

Collective weakness among commodities gave the CRB Commodity Index a 1.0% loss for the session, a move that was exacerbated by a stronger dollar, which advanced 0.5% against a basket of foreign currencies. DJ30 -25.55 NASDAQ +0.24 SP500 -6.04 NASDAQ Adv/Vol/Dec 1041/1.96 bln/1582 NYSE Adv/Vol/Dec 1085/781 mln/1907

3:00 pm : The major indices remain mixed. Specifically, the Nasdaq Composite is unchanged, while the Dow is down moderately and the S&P 500 lags. Meanwhile, the Nasdaq 100 is up 0.5%, but both the Russell 2000 and the S&P 500 are down 0.7%.

The Dow Jones World Index is currently down 0.2%, but that is largely due to weakness in the broader U.S. market and losses in Europe, which saw France's CAC close 0.5% lower, Britain's FTSE finish 0.6% lower, and Germany's DAX close down 0.7%. However, Hong Kong's Hang Seng spiked 2.2%, while Japan's Nikkei advanced 0.3%. DJ30 -18.97 NASDAQ +0.16 SP500 -5.80 NASDAQ Adv/Vol/Dec 1030/1.80 bln/1581 NYSE Adv/Vol/Dec 1092/704 mln/1893

2:30 pm : Though the Nasdaq continues to trade near the neutral line, the broader market remains markedly lower amid choppy action.

Natural resource stocks have come under increased pressure in recent action. That has the materials sector down to a 1.2% loss and the energy sector down to a 0.9% low. Their weakness has been exacerbated by further gains in the greenback, which is now up 0.6% against a basket of foreign currencies.

Another flurry of earnings announcements are expected to hit newswires after the close. Nearly 70 companies are scheduled to present their results, but Cisco (CSCO 23.05, +0.03) and Visa (V 82.24, -1.77) are among the more widely-held names in the group. DJ30 -21.77 NASDAQ -1.09 SP500 -6.24 NASDAQ Adv/Vol/Dec 1013/1.66 bln/1582 NYSE Adv/Vol/Dec 1048/647 mln/1927

2:00 pm : Shares of drug retailers have been out of favor this session, primarily due to the removal of CVS (CVS 32.45, -0.93) from the Conviction Buy List at Goldman Sachs and news that comparable sales at Walgreens (WAG 34.64, -2.14) fell 1.1% in January.

Amid their weakness, the consumer staples sector trades with a 0.6% loss, which is in-line with the broader market's decline. However, the consumer staples sector is still up 0.3% since the start of the new year, while the broader market is down 1.6% this year. DJ30 -22.98 NASDAQ -0.69 SP500 -5.89 NASDAQ Adv/Vol/Dec 1035/1.52 mln/1021 NYSE Adv/Vol/Dec 1032/595 mln/1938

1:30 pm : Large-cap tech has extended its lead over the broader market and, in turn, has taken the Nasdaq Composite from negative ground to the neutral line. Meanwhile, the Nasdaq 100 has made its way to a 0.4% gain, which puts it at a fresh session high.

Consumer discretionary stocks have also managed to garner support. Though the sector is up just 0.1%, it is the only sector besides tech (+0.3%) to trade in positive ground.

Volatility has eased as stocks improve their position. The Volatility Index had been up more than 2% in recent action, but it is now up a relatively tame 0.5%. DJ30 -14.06 NASDAQ -0.81 SP500 -4.75 NASDAQ Adv/Vol/Dec 1013/1.42 bln/1534 NYSE Adv/Vol/Dec 1043/551 mln/1907

1:00 pm : Stocks have been stuck in negative territory with broad-based losses for virtually the entire session. The downward move comes as buyers take a breather from their recent efforts.

Buyers have stepped to the sidelines since sending stocks nearly 3% higher during the course of trade on Monday and Tuesday. The break in buying comes just a couple of days ahead of the latest monthly unemployment report.

Participants were given a glimpse into the report with the latest ADP Employment Change Report, which indicated that private sector job losses in January totaled a smaller-than-expected 22,000.

In other economic news, the ISM Services Index for January came in at 50.5, which was generally in-line with expectations.

Neither report caused much of a stir.

Another large batch of better-than-expected earnings results have also done little for the broader market. Insurers Aflac (AFL 51.25, +1.55) and MetLife (MET 35.22, -1.15) each exceeded consensus earnings estimates. AFL issued an upside forecast to win additional support.

Elsewhare in the financial sector, PNC Financial (PNC 54.14, -0.51) reported that it will redeem its $7.6 billion in preferred shares under the TARP program. PNC also announced that it will issue a $3.0 billion common stock offering, which has priced shares at $54 each.

Financials, overall, are down 1.1%.

An earnings miss from Dow component Pfizer (PFE 18.59, -0.47) has imbued other health care stocks with weakness, such that the health care sector is down 1.2%, more than any other major sector.

Of the major sectors, only tech is in higher ground. It is up 0.2% as large-cap tech breaks with its recent trend of weakness to trade with strength. DJ30 -32.54 NASDAQ -4.96 SP500 -6.59 NASDAQ Adv/Vol/Dec 922/1.31 bln/1613 NYSE Adv/Vol/Dec 914/513 mln/2027

12:30 pm : Stocks continue to trade with broad-based weakness. However, large-cap tech has managed to attract enough support to keep the Nasdaq 100 at the unchanged mark. Apple (AAPL 199.10, +3.24), Google (GOOG 538.58, +7.46), and Research In Motion (RIMM 67.19, +1.56) are among the best performers in the space. Their relative strength comes in contrast with the weakness that they displayed in recent weeks. DJ30 -42.93 NASDAQ -6.13 SP500 -7.22 NASDAQ Adv/Vol/Dec 907/1.16 bln/1602 NYSE Adv/Vol/Dec 888/469 mln/2039

12:00 pm : Stocks recently made a modest bounce amid some technical support, but sellers have since redoubled their efforts and sent the stock market to fresh session lows. The downward push has been broad based with all 10 major sectors in the red (half are down by at least 1.0%).

Despite weakness among stocks this session, bonds haven't been able to garner much support. Specifically, the benchmark 10-year Note is down six ticks. It was down more than 10 ticks earlier, though.

Meanwhile, the dollar continues to climb higher against competing currencies. That has the Dollar Index up 0.5% to a fresh session high. DJ30 -55.55 NASDAQ -9.59 SP500 -8.50 NASDAQ Adv/Vol/Dec 858/1.04 bln/1619 NYSE Adv/Vol/Dec 799/421 mln/2121

11:30 am : An earnings miss from Dow component Pfizer (PFE 18.59, -0.47) has imbued other health care stocks with considerable weakness, such that the health care sector is down 1.2%, more than any other major sector.

Financials aren't far behind, though. The sector has lost 1.1% this session. Its slide has been broad-based, but banks are primary laggards for the second straight session. Regional banks are among the worst performers -- they are presently down 2.6%. However, PNC Financial (PNC 54.41, -0.24) has limited its losses amid news that it will redeem the $7.6 billion of its preferred shares held by the U.S. Treasury under the TARP program. To help raise capital, PNC also announced that it will issue a $3.0 billion common stock offering, which will price shares at $54 each. The price comes at a slight discount to the previous session's closing price.DJ30 -38.62 NASDAQ -4.87 SP500 -6.56 NASDAQ Adv/Vol/Dec 1012/916 mln/1429 NYSE Adv/Vol/Dec 959/368 mln/1948

11:00 am : Sellers recently intensified their efforts and knocked the major indices to fresh session lows, but stocks were able to garner support as the S&P 500 came in contact with the 1095 line, which provided a bit of a bounce to the market. Stocks are still in the red, though.

A stronger dollar has cast a pall on the broader equity market. It is currently up 0.4% against a basket of foreign currencies. The advance comes after the Dollar Index retreated in each of the two previous sessions, which followed fresh five-month highs.

Despite the greenback's gain, oil prices are up to a 0.6% gain, or $77.70 per barrel. That has helped the energy sector (+0.2%) hold on to a modest gain while the broader market trades in the red. DJ30 -29.70 NASDAQ -8.06 SP500 -5.99 NASDAQ Adv/Vol/Dec 957/738 mln/1450 NYSE Adv/Vol/Dec 961/305 mln/1883

10:30 am : The US Dollar Index pushed to fresh morning highs in recent activity, but the strength is not affecting the energy and precious metals markets much.

March crude oil was flat ahead of this morning's inventory data after pulling off of overnight highs of $78.04 per barrel. Inventory data showed a build of 2317K vs. the consensus build of 400K. Crude saw a muted reaction to the data and is currently up three cents at $77.26. March natural gas moved into positive territory overnight and hit new session highs of $5.558 per MMBtu in recent trade. Currently, the energy component is trading at $5.536 per MMBtu, up 1.5%.

Precious metals trended off overnight highs to morning lows, which were just hit minutes after floor trading began. April gold hit lows of $1111.70 per ounce and is currently trading at $1112.40 per ounce down 0.5%. March silver hit lows recently of $16.50 per ounce and is now at $16.48 per ounce, down 1.6%.
DJ30 -31.97 NASDAQ -5.49 SP500 -5.59 NASDAQ Adv/Vol/Dec 1064/534.5 mln/1269 NYSE Adv/Vol/Dec 983/222.9 mln/1809

10:00 am : The ISM Services Index for January came in at 50.5, which is essentially in-line with the 51.0 that was expected and up slightly from the 50.1 that was posted in the previous reading. Stocks have slipped a bit in the wake of the report -- the major indices remain mixed as a result.

Materials stocks continue to trade with relative strength, though. The sector lagged in the previous session, but is up 0.3% at the moment.

Early movers: Trading up -- HDIX +89.3%, APKT +22.5%, NETL +14%, ZAGG +12.7%, AUXL +9.7%, BCO +8.6%, SOLR +7.7%, DDSS +7.3%, ARM +7%; Trading down -- XIDE -29.8%, QSFT -10.1%, WU -9.9%, R -9.6%, CHRW -9.3%, MPWR -8.3%, CNLG -8.3%, KNXA -7.8%, ASCA -7.7%, ADS -7.3%, ALVR -6.8%, NMM -6.5%

Advancing Sectors: Materials (+0.3%), Energy (+0.1%), Consumer Discretionary (+0.1%)
Declining Sectors: Health Care (-0.9%), Utilities (-0.7%), Consumer Staples (-0.5%), Financials (-0.4%), Telecom (-0.2%)
Unchanged: Industrials, TechDJ30 -9.30 NASDAQ +0.72 SP500 -2.22 NASDAQ Adv/Vol/Dec 1270/321 mln/965 NYSE Adv/Vol/Dec 1253/145 mln/1472

09:45 am : The major equity averages are down with modest losses in the opening minutes of trade, but stocks have managed to quickly improve their position.

Despite a downward start, industrial stocks and materials stocks are up to a 0.2% gain. Consumer discretionary stocks are also up 0.2%.

Health care is a laggard in the early going, though. The sector was one of the best performers in the previous session, but it is currently down to a 0.9% loss. DJ30 +2.79 NASDAQ +0.32 SP500 -1.12 NASDAQ Adv/Vol/Dec 1172/175 mln/991 NYSE Adv/Vol/Dec 1148/98 mln/1505

09:15 am : S&P futures vs fair value: -6.50. Nasdaq futures vs fair value: -10.80. Stock futures point to a lower start, which would mark a break from the broad-based buying that has driven the stock market nearly 3% higher since the start of this week. Such strong buying has helped stocks recoup their losses from January, but there is still some uncertainty whether stocks will make a more concerted move in either direction. There wasn't much reaction to the latest ADP Employment Report, which showed fewer job losses from the private sector than many had forecast. Muted responses to data could remain the trend until Friday's official unemployment numbers are released, since the report may offer participants more explicit detail on macro conditions. Earnings results also continue to be generally dismissed, even though they have largely exceeded expectations.

09:00 am : S&P futures vs fair value: -6.20. Nasdaq futures vs fair value: -10.80. Stock futures in the U.S. have weakened a bit. Germany's DAX is generally flat as its declining issues and advancers trade in near even balance. In France, the CAC is also flat as its issues strike a balance between gains and losses. Sanofi-Aventis (SNY) has displayed some strength, but BNP Paribas is down markedly. In Britain, the FTSE is down 0.1% with Astra Zeneca (AZN) and GlaxoSmithKline (GSK) leading losses, but banking outfits Barclays (BCS) and Lloyds (LYG) have offered some support. According to Reuters, Britain's services sector slowed more than expected as its PMI index moved to 54.5 from 56.8. Reuters also reported that the euro zone's service sector in January expanded more slowly than the previous month. In turn, its PMI fell to 52.5 from 53.6 in December. In Asia, the MSCI Asia Pacific Index advanced 1.2%, while Japan's Nikkei added a more modest 0.3%. Toyota Motor (TM) proved to be a drag amid continued fallout from its U.S. recall. However, oil-linked shares gained considerably. Meanwhile, Fast Retailing fell after its sales fell in January from the same month last year. The first decline in six months was blamed on a shortage of inventory after strong sales in the previous month. After the bell, Honda Motor (HMC) posted better-than-expected earnings and lifted its annual outlook once more. In other earnings news, Mitsubishi UFJ (MTU) reported that it returned to profit in the nine months through December, but kept its annual outlook unchanged. In Hong Kong, the Hang Seng advanced 2.2%. Banks gained as a couple of players in the space moved to slow their own lending in order to help mitigate against harsher regulations from authorities. Natural resource plays also advanced, thanks partly to higher commodities prices. CNOOC (CEO) won additional support with its increased output forecast. The company also plans to increase capital spending for oil exploration. Mainland China's banks were also helped by news of proactive moves to tighten lending. Its Shanghai Composite closed with a 2.4% gain.

08:30 am : S&P futures vs fair value: -4.70. Nasdaq futures vs fair value: -7.50. Stock futures continue to lag fair value, despite a better-than-expected ADP Employment Change Report. Released at 8:15 AM ET, the latest ADP Employment Report indicated that private sector job losses in January totaled 22,000, which is less than the 30,000 job losses that many had forecast. There is another dose of data due at 10:00 AM ET, which is when the ISM Services Index for January will be released.

08:00 am : S&P futures vs fair value: -4.00. Nasdaq futures vs fair value: -7.00. Stock futures are down modestly ahead of the January ADP Employment Report, which is due at 8:15 AM ET. The ISM Services Index for January follows at 10:00 AM ET, then weekly oil inventory data at 10:30 AM ET. Earnings announcements continue to make headlines, but their impact on the broader market remains muted. Dow component Pfizer (PFE) was one penny short of the consensus call for adjusted earnings of $0.50 per share, but insurers Aflac (AFL) and MetLife (MET) each topped Wall Street's earnings estimates. Aflac went one step beyond with upside guidance. Media and broadcasting giants Time Warner (TWX) and Comcast (CMCSA) posted upside earnings surprises of their own. As for overseas action, Europe's major bourses are flat-to-modestly higher, but China's Shanghai Composite spiked 2.4% and Hong Kong's Hang Seng tacked on 2.2% after some of China's banks were proactive in their move to curb lending, rather than await government mandates.

06:54 am : S&P futures vs fair value: -1.30. Nasdaq futures vs fair value: -2.50.

06:54 am : Nikkei...10404.33...+33.20...+0.30%. Hang Seng...20722.08...+449.90...+2.20%.

06:54 am : FTSE...5300.29...+18.10...+0.30%. DAX...5722.18...+12.50...+0.20%.

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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