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 Post subject: February 4th Thursday 2010 Emini TF ($TF_F) points +22.40
PostPosted: Thu Feb 04, 2010 4:56 pm 
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Joined: Sat Jan 10, 2009 1:06 pm
Posts: 3356
Location: Canada

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 @

Today's results are 9 wins : 2 losses : 2 breakevens. I was able to catch a runner out of the gate but only because I was able to trade prior to the start of the regular session open of 0930am est instead of being stuck in traffic on my way back from taking one of the kids to day care. Just as important, I kepted the losses in my losing trades much smaller in comparison to prior trading days along with having better position size management. All of which allowed me to easily exceed my profit goals for today. The key change in supply/demand was 0558am, 0832am and 0942am est...the relationship between those key wide range bodies was bearish and exploitable. The rest of the trading day was just continuation of the trend started by the bearish relationship of those key wide range bodies.

Trading Tip: Correlate the VIX to your profit/loss curve to determine if your trading method is sensitive to changes in volatility. If yes...monitor the VIX to help determine your position size management and you'll be able to maximize your profits while minimizing your losses even though your trade signals remain the same.

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.


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).

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 @

My Trading Performance: +22.40 points in the ICE Russell 2000 Emini TF ($TF_F) Futures

020410_wrbtrader_PnLBlotterProfit.png [ 32.46 KiB | Viewed 601 times ]


Stocks Struggle Plunge On Job And Debt Woes
By Alexandra Twin, senior writer
February 4, 2010: 4:18 PM ET

NEW YORK ( -- Stocks tumbled Thursday, with the Dow and S&P 500 near 3-month lows, amid fears of sovereign debt woes in Europe, and a rise in weekly jobless claims ahead of Friday's big monthly employment report.

The Dow Jones industrial average (INDU) tumbled 270 points, or 2.6%, closing at 10,002.26 according to early tallies. The blue-chip average fell as low as 9998.03 right before the close. The last time it fell below 10,000 was in early November.

The S&P 500 index (SPX) sank 34 points, or 3.1%. Both indexes closed at their lowest points since Nov. 4.

The Nasdaq composite (COMP) fell 65 points, or 3%, and closed at its lowest point point since Nov. 6.

Debt woes propelled the dollar to a more than seven-month high versus the euro, which in turn pummeled dollar-traded commodities such as oil and gold. Treasury prices spiked, lowering yields, in a classic flight-to-safety move.

Meanwhile, the VIX (VIX), Wall Street's fear gauge, spiked 18%, suggesting investor nervousness was increasing.

"A surprise rise in weekly jobless claims ahead of tomorrow's non-farm payrolls report in combination with the sovereign debt issue has got people a bit spooked today," said Mikel Keifer, vice president at Jurika Mills & Keifer.

Keifer said concerns about Greece's debt problems have been in play for a while, but now Spain, Portugal and Ireland are joining the fray.

Reports of labor unrest and political problems in the troubled nations are adding to the nervousness. "The worries are coming more to the forefront as market participants wonder if these countries will be able to refinance the debt," Keifer said.

The stronger dollar sent oil and gold prices lower, and stocks such as Chevron (CVX, Fortune 500) and Exxon Mobil (XOM, Fortune 500) sliding. With energy one of the biggest sectors in the S&P 500, the selloff in the sector dragged on the broader market.

Weaker-than-expected labor market reports on both Wednesday and Thursday also played a role, creating jitters ahead of Friday's January jobs report.

"The market is turning its attention to the jobs data and it doesn't like what it's seeing," said Matt King, chief investment officer at Bell Investment Advisors.
Commodity prices slip on recovery doubts

Rally loses steam: Stocks rallied in the last 9 months of 2009 as investors dug back in after a brutal start to the year. The S&P 500 gained 65% between the 12-year lows hit on March 9 and year-end.

That advance continued up until around Jan. 19 of this year. But between that Jan. 19 high and the end of January, the S&P 500 lost just short of 7%.

"The market is in a pessimistic mood today, but this is also an extension of the correction we saw in late January," King said. "We saw a 7% decline, but we probably need to see double-digits (in percentage) before the selloff is over."
0:00 /3:37800,000 more lost jobs

Jobs: The number of Americans filing new claims for unemployment rose to 480,000 last week from a revised 472,000 the previous week, the Labor Department reported. Economists surveyed by expected 455,000 new claims.

Continuing claims, the number of Americans receiving benefits for a week or more, rose to 4,602,000 from 4,600,000 the previous week. Economists expected 4,581,000.

The report was the lead-in to Friday's big January jobs report from the government. Employers are expected to have added 15,000 jobs to their payrolls last month after cutting 85,000 in the previous month. The unemployment rate, generated by a separate survey, is expected to hold steady at 10%.

But the annual revision of U.S. payrolls is expected to show job losses during the recession were a lot more severe than previously thought. The Bureau of Labor Statistics is expected to say that 824,000 more jobs were lost than previously thought during the April 2008 to May 2009 period.

Factory orders: December factory orders rose 1% versus forecasts for a rise of 0.5%. Orders rose 1% in the previous month.

Quarterly results: After the close of trading Wednesday, tech leader Cisco Systems (CSCO, Fortune 500) reported better-than-expected quarterly sales and earnings.

Toyota Motor (TM) reported improved earnings in its most recent quarter and also lifted its estimates for the fiscal year ending in March. But the results did not include the impact of the huge recall of millions of vehicles due to gas pedal problems. Toyota estimates that the global recall could cost it as much as $2 billion.

On Thursday, the government announced a formal probe into brake problems in the popular Prius hybrid. (Feds probing Prius brakes)
Tick, tock: Real estate's time bomb

World markets: In overseas trading, Asian markets tumbled and European markets ended lower.

Commodities and the dollar: The dollar gained versus the euro on worries about sovereign debt in Greece, Spain and elsewhere in Europe. The dollar fell versus the Japanese yen.

The dollar's strength against the euro dragged on oil and gold prices and individual stocks.

COMEX gold for April delivery fell $49 to settle at $1,062.40 an ounce.

U.S. light crude oil for March delivery fell $3.84 to settle at $73.14 a barrel on the New York Mercantile Exchange.

Bonds: Treasury prices rallied, lowering the yield on the 10-year note to 3.61% from 3.70% late Wednesday. Treasury prices and yields move in opposite directions.

Market breadth was negative. On the New York Stock Exchange, losers beat winners by over nine to one on volume of 1.01 billion shares. On the Nasdaq, decliners topped advancers by more than five to one on volume of 2.27 billion shares


Yahoo! Finance

4:35 pm : Woes over the fiscal health of select European nations and some disappointing jobless claims numbers fueled a selling frenzy that culminated in the market's worst single-session percentage loss since April.

Concerns for the fiscal health of Portugal, Greece, and Spain in the wake of some tepid bond auction results stirred early selling interest, which intensified with news that initial jobless claims for the week ended Jan. 30 increased more than expected week-over-week to 480,000. Continuing claims remained steady week-over-week at 4.60 million, but that was still higher than the consensus call for 4.58 million continuing claims.

Disappointment over the headlines led global participants to seek safety in the dollar, which spiked 0.7% to a new six-month high.

Participants wanted little to do with equities, though. In turn, 97% of the issues listed in the S&P 500 logged a loss, which drove the broad-market measure to its lowest close in nearly three months. Meanwhile, the Dow Jones Industrial Average dipped below 10,000 for the first time since early November, but settled just above that psychologically significant line. Cisco (CSCO 23.16, +0.09) was the only Dow component to book a gain, thanks to its better-than-expected earnings and strong guidance.

Visa (V 83.05, -0.47) also exceeded earnings expectations and reaffirmed its outlook for growth, but its shares rolled over from a strong gain in the early going to join peer MasterCard (MA 222.11, -25.47) in the red. MasterCard missed Wall Street's consensus earnings estimate for the latest quarter. The stock was one of the weakest names in the financial sector, which fell 4.2%, worse than any other major sector.

Natural resource plays had been among the poorest performers for most of the session. Their losses were linked to broader market weakness and sharp losses in the commodity complex, which dragged down the CRB Commodity Index to a new three-month low and a 2.6% loss for the session.

Weakness among commodities was broad based as oil prices plummeted 5.0% to $73.14 per barrel. Prices haven't fallen by such a sharp percentage since summer. Meanwhile, gold prices were pushed 4.3% lower to $1064 per ounce -- December marked the last time that gold fell by more than 4%.

Volatility spiked amid this session's sell off. That resulted in a near 21% rise in the Volatility Index, which is often dubbed the VIX, or more ominously the Fear Index.

Retailers mostly made up the handful of names to book gains in the broader market. That was largely the result of several upbeat same-store sales reports for January. Still, retailers fell a collective 2.3%.

As if the breadth of this session's slide wasn't telling enough of conviction, trading volume on the NYSE came close to 1.5 billion shares, which is well above its 50-day and 200-day moving average.

While this session's sell-off will weaken sentiment in the broader market, participants still have yet to see the latest nonfarm payrolls report, which often brings volatility all on its own. The nonfarm payrolls report for January is scheduled to be released Friday morning at 8:30 ET.

Advancing Sectors: (None)
Declining Sectors: Financials (-4.2%), Energy (-3.9%), Materials (-3.8%), Industrials (-3.1%), Tech (-2.9%), Consumer Discretionary (-2.9%), Utilities (-2.6%), Health Care (-2.6%), Telecom (-2.4%), Consumer Staples (-2.3%)DJ30 -268.37 NASDAQ -65.48 NQ100 -2.9% R2K -3.4% SP400 -3.2% SP500 -34.17 NASDAQ Adv/Vol/Dec 366/2.78 bln/2319 NYSE Adv/Vol/Dec 272/1.48 bln/2842

3:35 pm : Sovereign debt concerns have led to a global sell-off; commodities have outpaced the broader losses in the equity markets. Poor bond auctions in Portugal yesterday and Spain today have spurred concerns regarding unhealthy debt levels in the respective countries. The commodity complex also felt substantial pressure this session as the CRB Commodity index fell 2.5%.

Precious metals traded significantly lower as the fears led to substantial selling pressure in the euro. In turn, the dollar index rose a modest 0.6% this session. The dollar index now stands at a six-month high. Precious metals sold off in the morning and traded relatively flat for the rest of the session. April gold closed 4.3% lower at $1064 per ounce. March silver closed 5.9% lower at $15.35 per ounce.

Crude oil traded in-line with precious metals. It closed down 5.0% at $73.14 per barrel.

Natural gas futures, on the other hand, pared their early losses. After hitting a session low at $5.23 per MMBtu, it closed 0.4% higher at $5.44 per MMBtu.DJ30 -240.93 NASDAQ -59.32 SP500 -30.13 NASDAQ Adv/Vol/Dec 398/2.36 bln/2265 NYSE Adv/Vol/Dec 298/1.06 bln/2792

3:00 pm : Trading volume has been relatively strong this session. Just one hour remains before the closing bell will toll and more than 900 million shares have already traded hands on the NYSE. The 50-day moving average stands at 1.1 billion shares.

This session's most actively traded names by volume include Citigroup (C 3.24, -0.13), Cisco (CSCO 23.32, +0.25), and Bank of America (BAC 14.92, -0.61). However, trading volume in each of these names was highest in the early going. DJ30 -206.47 NASDAQ -50.39 SP500 -25.85 NASDAQ Adv/Vol/Dec 452/2.09 bln/2185 NYSE Adv/Vol/Dec 345/922 mln/2716

2:30 pm : Both the S&P 500 and the Dow Jones Industrial Average are near their respective three-month lows, while the Nasdaq Composite is at a new two-month low. However, losses for the Nasdaq are slightly steeper so far this year; the Nasdaq has lost 5.8% since the start of 2010, while the S&P 500 and Dow have respective year-to-date losses of 3.9% and 3.5%.

This year's losses have come mostly in the last couple of weeks. Since its mid-January high, the stock market has fallen almost 7%. DJ30 -208.69 NASDAQ -52.72 SP500 -26.09 NASDAQ Adv/Vol/Dec 423/1.96 bln/2211 NYSE Adv/Vol/Dec 331/861 mln/2719

2:00 pm : Market breadth remains decidedly negative as nearly 97% of the stocks listed in the S&P 500 trade lower. Cisco (CSCO 23.22, +0.15) remains the only Dow component to trade with a gain, though it recently came close to the neutral line.

Amid the broad-based selling effort, Treasuries have turned solidly higher. The benchmark 10-year Note is now up nearly one full point. That has its yield back below 3.60%. DJ30 -22.1.81 NASDAQ -53.52 SP500 -27.95 NASDAQ Adv/Vol/Dec 398/1.79 bln/2209 NYSE Adv/Vol/Dec 328/780 mln/2715

1:30 pm : The stock market has steadied its slide, but it hasn't garnered any real support. Instead, it has been left to drift sideways along its session low.

Though overseas markets had a hand in the selling that started stocks on such weak footing, increasing pressure inevitably circled back to Europe, where Germany's DAX logged a 2.5% loss, France's CAC fell 2.8%, and Britain's FTSE dropped to a 2.2% loss.

Amid the global sell-off, the Dow Jones World Index is down 2.4% in its worst single-session percentage slide since late November. DJ30 -211.38 NASDAQ -50.52 SP500 -25.96 NASDAQ Adv/Vol/Dec 399/1.62 bln/2179 NYSE Adv/Vol/Dec 328/712 mln/2701

1:00 pm : Losses among overseas markets and some disappointing jobless claims totals made for a weak start to this session. Pressure has only intensified, though, so stocks are stuck at fresh two-month lows.

Concerns for the fiscal health of Portugal, Greece, and Spain caused the major European bourses to come under pressure and send global participants to the dollar for cover. The flight to safety has the greenback up 0.6% to a fresh six-month high.

Those headlines had already put stocks on track for a lower start to this session, but it was a higher-than-expected tally for initial jobless claims and continuing jobless claims that gave sellers more conviction. A softer-than-expected increase in fourth quarter nonfarm productivity certainly didn't help sway the mood of participants toward the positive side.

Natural resource plays are among the worst performers as energy stocks drop 3.5% and materials stocks fall 3.2%. Their weakness has been exacerbated by the greenback's gain and a sharp drop in commodity prices -- the CRB Commodity Index is down 2.7% to a new three-month low as oil prices drop 5.1% to $73.00 per barrel and gold falls 4.5% to $1061.50 per ounce.

Of the 30 Dow components, Cisco (CSCO 23.18, +0.11) is the only one to trade in positive ground. Better-than-expected earnings and a strong forecast have won support for the stock.

Visa (V 84.21, +0.69) and MasterCard (MA 223.30, -24.28) were also out with their latest results, which featured a beat from Visa and a miss from MasterCard.

Though down 1.7%, retailers have managed to limit their losses amid a large batch of upbeat same-store sales results for January.

Volatility has spiked as a result of this session's slide. That has the Volatility Index, often dubbed the VIX or more ominously the Fear Index, up 17%. DJ30 -214.86 NASDAQ -51.62 SP500 -26.13 NASDAQ Adv/Vol/Dec 374 /1.48 bln/2194 NYSE Adv/Vol/Dec 324/660 mln/2691

12:30 pm : Broader market pressure has shares of retailers down 1.6%, collectively, as a barrage of upbeat same-store sales results has only provided modest support to the players in the space.

Nordstrom (JWN 35.95, -0.10) reported a 14.0% increase in January comparables, while Saks (SKS 6.50, -0.24) had January comparables increase 7.0%. Limited (LTD 20.16, -0.105) had a same-store sales increase of 6.0% in January.

Teen apparel retailers Abercrombie & Fitch (ANF 33.60, -1.64) and Gap (GPS 19.67, +0.65) reported January comparable sales increases of 8.0% and 5.0%, respectively. Gap also raised its fourth quarter forecast to range from $0.48 to $0.50 per share, excluding certain items The consensus for the quarter currently calls for $0.44 per share. Meanwhile, Aeropostale (ARO 32.81, -2.34) reported that its January comparable sales increased 6.0%.

JCPenney (JCP 25.64, -0.33) had a 4.6% decline in January same-store sales, but Kohl's (KSS 50.65, -1.49) had an increase of 6.5% and even raised its fourth quarter outlook to range from $1.36 to $1.37 per share, which exceeds the consensus of $1.31 per share. Macy's (M 16.63, +0.39) saw its comparable sales rise 3.4%. It said its preliminary fourth quarter revenues hit $7.85 billion, which would be in-line with expectations. However, the company increased its adjusted earnings guidance for the fourth quarter to range from $1.35 to $1.37, which exceeds the $1.18 per share that Wall Street had forecast. DJ30 -200.50 NASDAQ -48.50 SP500 -24.81 NASDAQ Adv/Vol/Dec 401/1.38 bln/2158 NYSE Adv/Vol/Dec 344/595 mln/2655

12:00 pm : The stock market recently put in a fresh two-month low, but managed to steady itself before setting a three-month low.

The CRB Commodity Index has fallen to a fresh three-month low, though. It is currently down 2.5% in its worst single-session percentage slide since August. The drop comes as gold prices slump 4.3% to $1064 per ounce and oil prices plummet 4.7% to $73.35 per barrel. Oil hasn't fallen by such a sharp percentage since July, while gold last fell more than 4% in December. DJ30 -197.33 NASDAQ -47.09 SP500 -24.50 NASDAQ Adv/Vol/Dec 434/1.28 bln/2108 NYSE Adv/Vol/Dec 352/543 mln/2625

11:30 am : Of the 30 Dow components, Cisco (CSCO 23.30, +0.23) is the only one to trade in positive ground. Better-than-expected earnings and a strong forecast have won support for the stock.

Visa (V 85.55, +2.03) is another widely-held name that recently posted its latest quarterly results, which proved stronger-than-expected. The company also reaffirmed its strong growth forecasts, which helped win it several analyst upgrades. However, MasterCard (MA 227.50, -20.08) missed the consensus estimate surmised by Wall Street's analysts. Shares of MA are stuck in their worst single-session percentage slide in months. DJ30 -185.76 NASDAQ -41.33 SP500 -21.22 NASDAQ Adv/Vol/Dec 416/1.09 bln/2080 NYSE Adv/Vol/Dec 350/456 mln/2599

11:00 am : Sellers remain in control as stocks slip to fresh session lows, which are closely in-line with the lows that were hit last week. Each of the 10 sectors in the S&P 500 now trades with a loss of more than 1%, but the energy sector, materials sector, and financials sector are worse off as each trades down 2.5%.

Volatility has spiked as a result of this session's slide. That has the Volatility Index, often dubbed the VIX or more ominously the Fear Index, up 13.9%.

Steep losses among stocks have spurred support for Treasuries, such that the benchmark 10-year Note is up 20 ticks and the 30-year Bond is up one full point. DJ30 -196.57 NASDAQ -42.28 SP500 -23.82 NASDAQ Adv/Vol/Dec 380/915 mln/2092 NYSE Adv/Vol/Dec 299/377 mln/2641

10:30 am : Pessimism among market participants has both stocks and commodities under considerable pressure. As such, the stock market is down nearly 2% with 95% of its components in the red, while the CRB Commodity Index is down 1.8% as its primary components are knocked for a loss. A 0.6% bounce by the Dollar Index to fresh five-month highs hasn't helped the case for commodities.

Oil prices are currently down 2.7% to $74.90 per barrel in their worst single-session percentage loss in nearly two months.

Meanwhile, natural gas prices are down 2.0% to $5.31 per contract after they extended their morning slide in the wake of a smaller-than-expected inventory draw. Natural gas inventories for the week ended Jan. 29 showed a draw of 115 bcf when a draw of 121 bcf had been expected.

As for precious metals, gold prices have been dropped for a 3.7% loss to $1070.50 per ounce, while silver sits with a 4.8% loss at $15.54 per ounce. DJ30 -185.84 NASDAQ -41.89 SP500 -22.47 NASDAQ Adv/Vol/Dec 385/690 mln/2015 NYSE Adv/Vol/Dec 292/286 mln/2586

10:00 am : Stocks remain under pressure, such that 90% of the components in the S&P 500 are in negative territory. However, the S&P 500 looks to have stabilized at the 1080 line, which is roughly 10 points above the intraday lows that were set last week.

Factory orders data for December has just been released. According to the numbers, orders increased 1.0%, which is stronger than the 0.5% increase that had been widely forecast. The prior month's increase was revised modestly lower to reflect an increase of 1.0% for the month.

Early movers: Trading up -- HDNG +52.4%, CYCC +19.2%, AFFX +16.1%, OTEX +10.6%, KLIC +8.8%, SQNM +8.8%, THQI +7.7%; Trading down -- DBTK -21.1%, SPR -14.8%, MWW -14.3%, MSTR -13%, LAD -12.1%, SFN -11.7%, AMAG -10.8%, RTI -9.5%, CPLP -9.5%, BKE -9.3%

Advancing Sectors: Materials (-2.6%), Energy (-2.3%), Financials (-2.0%), Industrials (-1.8%), Consumer Discretionary (-1.6%), Tech (-1.5%), Health Care (-1.5%), Utilities (-0.9%), Consumer Staples (-0.9%), Telecom (-0.8%)
Unchanged Sectors: (None)DJ30 -135.25 NASDAQ -33.86 SP500 -17.55 NASDAQ Adv/Vol/Dec 412/396 mln/1863 NYSE Adv/Vol/Dec 285/167 mln/2481

09:45 am : Stiff selling pressure has taken all 10 major sectors into negative territory during the first few minutes of action. Losses are currently steepest in the energy sector (-1.9%) and the materials sector (-2.2%) as participants shun natural resource plays.

An earnings miss by Steel Dynamics (STLD 15.31, -0.61) has helped to fuel pressure against steel stocks (-4.2%), which are among the weakest issues in the materials sector.

Weakness in resource-linked stocks has been exacerbated by lower commodity prices. Specifically, gold is down 2.0% to $1089 per ounce, while oil prices are down 1.8% to $75.60 per barrel. In a broader measure, the CRB Commodity Index is down 1.0%. DJ30 -121.75 NASDAQ -22.17 SP500 -14.46 NASDAQ Adv/Vol/Dec 535/240 mln/1667 NYSE Adv/Vol/Dec 348/113 mln/2345

09:15 am : S&P futures vs fair value: -8.90. Nasdaq futures vs fair value: -11.50. Losses in overseas markets amid ongoing concerns about the fiscal health of European nations like Greece and Spain has imbued U.S. stock futures with weakness. Those concerns have sent safety-seekers into the dollar, which is up 0.4% to a fresh five-month high. That has only exacerbated pressure against stock futures in premarket trade. The mood among participants has been further undermined by higher-than-expected tallies for initial jobless claims and continuing jobless claims. Fourth quarter nonfarm productivity also climbed at a slower-than-expected clip. The negative headlines have overshadowed some strong same-store monthly sales results from retailers and another large batch of better-than-expected earnings, which have already had a hard time enticing buyers this earnings season.

09:00 am : S&P futures vs fair value: -8.40. Nasdaq futures vs fair value: -11.30. U.S. stock futures continue to point to a markedly lower start. Selling pressure has already taken Europe's major bourses lower. The decision by the European Central Bank to keep its benchmark interest rate unchanged at 1.00%, as expected, has done little to offer support. Most of the weakness has been hinged upon continued concerns about the fiscal health of eurozone countries like Greece, Portugal, and Spain. European banking giant Santander (STD) has been punished in conjuction with the news. Britain's banks are also under pressure as HSBC (HBC), Barclays (BCS), Standard Chartered, Royal Bank of Scotland (RBS), and Lloyds Banking drag the FTSE to a 1.1% loss. Royal Dutch Shell (RDS.A) is also under pressure after the company reported earnings that were down year-over-year. Meanwhile, Britain's central bank left its target rate unchanged at 0.5% and paused its asset purchase plan, as expected. In Germany, the DAX has fallen to a 1.0% loss. Despite weakness among other European bank shares, Deutsche Bank (DB) has managed to stage an advance after the company's Chief Execuitive stated the bank has had a promising start to 2010. In German economic news, AFP reported that German industrial orders slumped 2.3% in December after a 2.7% rise in November. France's CAC is currently down 1.2% as BNP Paribas, Societe Generale, ArcelorMittal (MT), and Total (TOT) lead losses. In Asia, the MSCI Asia Pacific Index shed 0.8%, while Japan's Nikkei erased 0.5%. Toyota Motor (TM) extended its slide. It said after the close that it expects a $2 billion hit due to recall issues. However, Honda Motor (HMC) climbed after it lifted its annual guidance above expectations. Hong Kong's Hang Seng fell 1.8% as Industrial and Commercial Bank of China handed back its gains from the previous session. Lenovo Group erased earlier losses to net a modest gain after it reported forecast-beating results. In mainland China, the Shanghai Composite shed 0.3%.

08:35 am : S&P futures vs fair value: -8.00. Nasdaq futures vs fair value: -9.30. Disappointing weekly jobless claims numbers have sent stock futures sharply lower. Specifically, initial jobless claims for the week ended Jan. 30 totaled 480,000, which is a larger tally than the 455,000 initial claims that had been widely expected and an increase from the 472,000 initial claims that had been registered in the prior week. Continuing claims remained steady week-over-week at 4.60 million, but that was still higher than the consensus call for 4.58 million continuing claims.

08:00 am : S&P futures vs fair value: -3.60. Nasdaq futures vs fair value: -2.70. Stock futures presently point to a downward start as another raft of better-than-expected earnings results, including those of Cisco (CSCO) and Visa (V), is met with an underwhelming reaction. Part of the dour mood comes amid news that the financial woes of Greece have intensified. That has caused some safety trade that has helped the U.S. dollar climb 0.3% in an extension of its 0.5% gain from the previous session. The euro is particularly weak against the buck; the European Central Bank kept its benchmark lending rate at 1.00%, as expected. The preliminary read on nonfarm productivity for the fourth quarter is due at the bottom of the hour, along with the latest weekly jobless claims tally. Factory orders for December follow at 10:00 AM ET.

06:50 am : S&P futures vs fair value: -4.20. Nasdaq futures vs fair value: -5.80.

06:50 am : Nikkei...10355.98...-48.40...-0.50%. Hang Seng...20341.64...-380.40...-1.80%.

06:50 am : FTSE...5214.18...-38.90...-0.80%. DAX...5644.20...-27.90...-0.50%.

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)

Phone: +1 708 572-4885
Business Hours: 8am - 5pm est (Mon - Fri)
Skype Messenger: kebec2002
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