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 Post subject: February 23rd Tuesday 2010 Emini TF ($TF_F) points +21.60
PostPosted: Tue Feb 23, 2010 7:46 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=455.

Quote:
Today's results are 3 wins : 2 losses. One big trade involved most of my profits today. Other than that, the price action was bearish prior to the big drop and it's intraday highs prior to the drop had stalled within a WRB S/R Zone.

Trading Tip: Don't believe that crap that news is already factor into the movement of price action. It's one of those misinterpreted myths floating around amongst retail traders. Simply, today's market dump 1000am est is an example of many that economic news have an immediate impact on price action at/near the release of the economic numbers. Simply, to keep from being surprise, always use an economic calendar to know when economic reports are going to be release.


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: +21.60 points in the ICE Russell 2000 Emini TF ($TF_F) Futures
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Stocks Hit As Confidence Slips
By Alexandra Twin, senior writer
February 23, 2010: 5:39 PM ET

NEW YORK (CNNMoney.com) -- Stocks tumbled Tuesday after a key measure of consumer confidence plunged, reflecting investors' growing pessimism about the strength of the economic recovery.

The Dow Jones industrial average (INDU) lost 100 points, or 1%. The 30-share Dow had lost as much as 115 points earlier.

The S&P 500 index (SPX) lost 13 points, or 1.2%. The Nasdaq composite (COMP) fell 28 points, or 1.3%.

A mixed market turned negative after the late morning release of a weaker-than-expected reading on consumer confidence. The report reflected investor wariness this year amid some conflicting readings on the economy, debt issues at home and abroad, and lawmaker squabbling in Washington.

Stocks have been choppy lately, with the major indexes declining for four weeks, advancing for two weeks and then slipping again Monday -- despite some upbeat earnings and an $11 billion merger in the oil services sector.

The Volatility (VIX) index, Wall Street's so-called fear factor, rose 9% Tuesday as nervousness grew about the strength of the recovery.

"The bears and the bulls are in a tug of war, and today, the bears have the upper hand," said Bill Stone, chief investment strategist at PNC Financial Services Group.

He said that the consumer confidence number is one of the more forward-looking readings and is raising worries that the consumer -- already struggling in a battered labor market -- might pull back even more.

"Today it's a combo of a weak number and maybe needing to take a breather after the rally," Stone said.
Toyota problems could be electronic

Struggling after the rally: After a huge runup in 2009 based on expectations for a strong recovery in 2010, investors are now looking for proof that such a recovery will take hold.

A mixed batch of economic readings has put some doubt in the market this year, while better-than-expected fourth-quarter earnings and revenues have had little impact on investor sentiment.

China's decision to temper growth by limiting bank loans and fears of Greece's debt crisis spreading to other European nations have also played a role in the market's seesawing.

"In a broad sense, we're in the fourth quarter of a bull rally and a lot of the steam is out of it now," said Tom Hepner, financial adviser at Ruggie Wealth Management.

He said investors are looking past the fiscal and monetary stimulus that has propped up the economy over the last year and are looking at the earnings and economic reports. "We're looking at the so-called fundamentals of the market and we're not quite sure it's all there yet," he said.
Sick banks may mean feeble recovery

Federal Reserve: Last week, the Federal Reserve surprised investors by boosting the discount rate, the emergency bank lending rate, by a quarter-percentage point, to 0.75%.

It was the first change in interest rates in over a year and signaled the very early stages of the Fed returning to a more normal phase of monetary policy. However, the move was largely symbolic, as the discount rate is rarely used.

Fed Chairman Ben Bernanke testifies on Capitol Hill Wednesday and Thursday. He is expected to discuss the economy and monetary policy, but investors will be listening to see if he says anything more about the central bank's plans to close out some of the emergency programs put in place during the height of the financial crisis.

Housing: The S&P/Case-Shiller Home Price index of the 20 largest metropolitan areas fell 3.1% in December versus a year ago, in line with estimates and an improvement after a drop of 5.3% in the previous month. However, the index rose 0.3% from November's levels, suggesting the housing market is continuing to recover.

On a quarterly basis, the index fell 2.5% versus a year earlier, an improvement over the last three years.
0:00 /1:19Toyota brags about limited recall

Jobs: The Senate on Monday agreed to move forward on a $15 billion jobs creation bill that gives businesses a tax break for new hires. The bill would also extend an existing break for spending money on investments like equipment and funds highway and transit programs through the rest of the year.

Toyota: Executives from the troubled auto manufacturer are in Washington this week to discuss the company's massive recall and future plans.

At the first of three congressional hearings, witnesses argued that the problems with the brakes could be tied to the vehicles' electronic throttle system.

James Lentz, the company's U.S. sales chief was testifying Tuesday and Akio Toyoda, the company's president, was due to testify Wednesday. Toyoda is expected to tell U.S. lawmakers that the rush to expand Toyota Motor's business led to the safety issues that resulted in the recall.

Quarterly results: A number of retailers reported results Tuesday, including Dow component Home Depot (HD, Fortune 500).

Home Depot said it returned to a profit in its fiscal fourth quarter after posting a loss a year earlier, with earnings of 18 cents per share, two cents better than expected. Home Depot also boosted its dividend. But the company gave a cautious 2010 outlook amid the still-fragile economic recovery.

Target (TGT, Fortune 500) and Sears Holdings (SHLD, Fortune 500) also reported better-than-expected quarterly profit. Sears is the operator of Sears and Kmart.

Banks: Over 700 banks are at risk of failing, according to a report from the Federal Deposit Insurance Corp. published Tuesday. The FDIC said that the number of banks on its so-called problem list has climbed to 702, the highest number in 6-1/2 years.

The number has increased steadily since the start of the recession in December 2007. However, only a small percentage of banks identified as being in danger end up failing.

World Markets: In overseas trading, European markets fell and Asian markets ended mixed.

The dollar and commodities: The dollar gained versus the euro and fell against the yen.

U.S. light crude oil for April delivery fell $1.45 to settle at $78.85 a barrel on the New York Mercantile Exchange.

COMEX gold for April delivery fell $9.90 to settle at $1,103.20 per ounce.

Bonds: Treasury prices rose, lowering the yield on the 10-year note to 3.70% from 3.79% late Monday. Treasury prices and yields move in opposite directions.

Market breadth was negative. On the New York Stock Exchange, losers beat winners seven to three on volume of 1.08 billion shares. On the Nasdaq, decliners beat advancers by over two to one on volume of 2.29 billion shares.

Image

Yahoo! Finance

4:30 pm : Stocks closed near session lows in their worst single-session percentage loss in more than two weeks as sellers were stirred to action by a disappointing consumer confidence reading and a stronger dollar.

A relatively weak start quickly turned to something more ugly with the midmorning release of the February Consumer Confidence Index, which came in below expectations at a 10-month low of 46.0. Broad-based pressure immediately followed to take each of the three major indices back below its 50-day moving average after the technical line acted as a supportive floor in the previous session.

Losses among stocks worsened as the greenback gained ground against competing currencies. The dollar settled the session 0.5% higher after it extended a moderate gain from the early going.

The confluence of broad market weakness and a stronger dollar dragged down the materials sector to a 1.7%. Steel was one of the worst performing groups in the sector after it had been a leader during recent sessions. Steel stocks shed a collective 4.0%.

In addition to weakness among basic materials, commodities had a poor session. As such, the CRB Commodity Index dropped 1.6%. The fall takes the CRB back below its 50-day moving average after it had hit a one-month high in the previous session.

Financials were officially the worst performing sector of the session, though they had actually traded with relative strength in the early going. They finished with a 1.8% loss, which undid the sector's outsized gains from Monday.

While the broader market was mired in weakness, retailers were able to limit losses. Retailers in the S&P 500 finished with a collective loss of 0.5%, but that was mostly owed to strength in Home Depot (HD 30.75, +0.43), which actually hit a fresh 52-week high after it announced better-than-expected earnings, issued an upside guidance, and increased its quarterly dividend.

Macy's (M 18.67, +0.20) was also able to finish higher after it reported better-than-expected results of its own. The company's earnings outlook was in-line with what Wall Street has surmised.

Not every retailer was able to fare so well, though. Both Target (TGT 50.06, -0.58) and Sears Holdings (SHLD 93.80, -1.86) exceeded earnings expectations, but failed to book gains.

Treasuries had a strong session, which saw the benchmark 10-year Note climb nearly one full point. That trimmed its yield nearly 10 basis points to 3.69%. Treasuries were partly helped by results from a $44 billion auction of 2-year Notes that attracted a yield of nearly 0.90% with an above-average bid-to-cover of 3.3 and a strong indirect bid of 53.6%.

Advancing Sectors: (None)
Declining Sectors: Financial (-1.8%), Materials (-1.7%), Tech (-1.4%), Energy (-1.5%), Industrials (-1.2%), Health Care (-1.1%), Telecom (-1.0%), Utilities (-0.8%), Consumer Discretionary (-0.6%), Consumer Staples (-0.6%)DJ30 -100.97 NASDAQ -28.59 NQ100 -1.3% R2K -1.1% SP400 -1.3% SP500 -13.41 NASDAQ Adv/Vol/Dec 875/2.27 bln/1759 NYSE Adv/Vol/Dec 939/1.08 bln/2113

3:35 pm : Losses in the commodity space outpaced the weakness in the broader markets this session. Strength in the dollar index did not help as the CRB Commodity Index lost 1.5% of its value this session.

Energy commodities dropped 2.0% this session. April crude oil broke below the $80 level then bounced off the $78.50 level before the pit session commenced this morning. Once it did, the April contract never surpassed the $79.50 level. It closed 1.8% lower at $78.84 per barrel. Natural gas futures were weak all session. Selling pressure accelerated into the close and natural gas closed near session lows at $4.78 per MMBtu. March natural gas is down nearly 15% over the last six sessions.

Meanwhile, precious metals lost 1.5% this session. They traded lower in the morning as the dollar moved higher. The second half of the pit trade was relatively quiet. March silver closed 2.0% lower at $15.89 per ounce. April gold closed 0.9% lower at $1103.20 per ounce.DJ30 -70.13 NASDAQ -22.64 SP500 -9.95 NASDAQ Adv/Vol/Dec 944/1.88 bln/1697 NYSE Adv/Vol/Dec 955/790 mln/2058

3:00 pm : The stock market has started to trim its losses, but broad-based losses remain. Retailers remain relatively well off, though; the sector is down just 0.2% this session. Home Depot (HD 30.89, +0.57) continues to provide support to both the retail space and the Dow Jones Industrial Average, which is down markedly, but not as much as the other headline indices.

The dollar is still one of the the best performing assets this session, though its strength has had a hand in the detriment of both stocks and commodities. The greenback is currently up 0.4%, but it is now up 3.8% year-to-date. DJ30 -79.20 NASDAQ -24.09 SP500 -11.17 NASDAQ Adv/Vol/Dec 860/1.72 bln/1759 NYSE Adv/Vol/Dec 929/719 mln/2069

2:30 pm : Stocks are still near their session lows and are on track for their worst percentage loss in a single session since a 3.1% plummet earlier in the month.

Trading volume remains moderate. It was outright paltry in the previous session, when it not only failed to break the 1 billion share mark on the NYSE, but was the second worst total since the start of the year. DJ30 -109.20 NASDAQ -30.28 SP500 -14.26 NASDAQ Adv/Vol/Dec 786/1.55 bln/1836 NYSE Adv/Vol/Dec 811/660 mln/2195

2:00 pm : The stock market continues to plod along its session lows as stocks fail to find any source of real support to help them trim their losses. In turn, all 10 major sectors are in the red, but the three largest sectors by market weight, technology (-1.6%), financial (-1.9%), and health care (-1.1%), are down more than 1% with some of this session's worst losses.

Amid this session's sell off, volatility has spiked so that the Volatility Index (VIX) is up 9.0% to 21.7. The move puts the VIX back up above its 50-day moving average. DJ30 -107.16 NASDAQ -32.56 SP500 -14.89 NASDAQ Adv/Vol/Dec 753/1.48 bln/1835 NYSE Adv/Vol/Dec 798/600 mln/2188

1:30 pm : Results from a $44 billion auction of 2-year Treasuries were released at 1:00 PM ET. It attracted a yield of nearly 0.9% and was met with a bid-to-cover of 3.3, which is above that of the prior auction and the average ratio for the past five auctions. Also up, the indirect bid hit 53.6%.

The results have helped Treasuries extend their gains. In turn, the benchmark 10-year Note is up to a session high, where it sports a gain of roughly 25 ticks. That move has pulled the Note's yield back below 3.7% after it had flirted with 3.8% in the previous session.

The auction results haven't done much for stocks, though. Instead, the major equity averages are just above their session lows. The slight lift from those lows has come largely as a result of a pull back by the greenback, which has eased back from a gain of 0.6% to a gain of 0.4% against competing currencies. DJ30 -84.11 NASDAQ -30.08 SP500 -12.39 NASDAQ Adv/Vol/Dec 786/1.38 bln/1786 NYSE Adv/Vol/Dec 843/555 mln/2127

1:00 pm : A stronger dollar and the worst Consumer Confidence Index reading in 10 months has triggered stiff, broad-based selling pressure, such that the stock market is on pace for its worst single-session percentage loss in more than two weeks.

Stocks started the session moderately lower as participants reacted negatively to modest gains by the greenback. And when it looked as if stocks might start to trim some of their opening losses, sellers redoubled their efforts when it was learned that the February Consumer Confidence Index came in at a lower-than-expected 46.0, which is the lowest reading since April 2009.

Stocks have been unable to recover from the drop and even extended their slide in recent action as the dollar ascended to a fresh session high against a basket of foreign currencies. The buck is currently up 0.6% against that basket.

The combination of broader market weakness and a stronger dollar has been especially toxic for commodities and basic materials stocks. As such, the CRB Commodity Index is down 1.4% and the materials sector is down 1.9%, which is the worst loss of any major sector in the S&P 500.

Tech, which is the largest sector in the S&P 500 by market weight, isn't far behind, though. The sector is currently down 1.6% as semiconductor stocks fall sharply out of favor -- the Philadelphia Semiconductor Index is down 3.2% at the moment.

Such steep and widespread weakness has taken each of the three major indices back below its 50-day moving average. The technical line had actually acted as a supportive floor in the previous session.

Though the latest consumer confidence reading has played a strong hand in this session's selling, retailers have managed to resist most of the pressure. As a group, retailers are down a relatively tame 0.3%. The group's resistance to sellers has been helped by home improvement retailer Home Depot (HD 30.97, +0.65), which actually hit a fresh 52-week high this session, thanks to better-than-expected earnings, upside guidance, and an increased quarterly dividend. Results from other retailers haven't been received as well, but their shares have still seen limited downside.

Treasuries have had a strong session, thus far. Specifically, the benchmark 10-year Note is currently up nearly 20 ticks ahead of results from an auction of 2-year Treasuries at 1:00 PM ET. DJ30 -84.57 NASDAQ -32.33 SP500 -12.88 NASDAQ Adv/Vol/Dec 719/1.27 bln/1833 NYSE Adv/Vol/Dec 799/510 mln/2171

12:30 pm : Stocks have extended their losses after spending the last couple of hours moving sideways. The downward move has put the stock market at a fresh session low.

Though the slide has been broad based, pressure against materials stocks has intensified considerably. The sector is now down 1.8%, even with the tech sector, which had been the worst performing sector in the S&P 500 for the past few hours.

Losses have also intensified among financial stocks, such that they are now down 1.4%. The sector had displayed relative strength in the early going, but rolled over with the broader market after the release of a disappointing consumer confidence reading. DJ30 -90.08 NASDAQ -36.05 SP500 -13.71 NASDAQ Adv/Vol/Dec 646/1.14 bln/1898 NYSE Adv/Vol/Dec 784/460 mln/2166

12:00 pm : Each of three major indices is back below its 50-day moving average. The technical line had acted as a supportive floor in the previous session, but this session's pressure has proven too much.

Amid such broad-based selling, stocks are on pace for their worst single session performance, by percent lost, in more than two weeks.

Treasuries have benefited from the equity market's weakness, however. As such, the benchmark 10-year Note is currently up nearly 20 ticks. DJ30 -73.83 NASDAQ -31.31 SP500 -11.35 NASDAQ Adv/Vol/Dec 580/990 mln/1950 NYSE Adv/Vol/Dec 844/420 mln/2092

11:30 am : Despite broad market weakness and a disappointing Consumer Confidence Index for February, shares of retailers have managed to resist most of this morning's pressure. Retailers, as a group, are down a tepid 0.3% at the moment.

Home Depot (HD 30.86, +0.54) has been a primary source of support to the group. The home improvement retailer reported for its latest quarter better-than-expected earnings, issued upside guidance, and even hiked its quarterly cash dividend by 5%. The stock is testing its session high at the moment.

Despite better-than-expected earnings of their own, Sears Holdings (SHLD 94.96, -0.70), Macy's (M 18.47, -0.03), and Target (TGT 49.87, -0.77) trade with varied losses. However, Macy's issued an in-line outlook that failed to inspire, while Target indicated during its conference call that Wall Street's first quarter earnings estimate is stronger than the company's "middle of the road" outlook. DJ30 -73.69 NASDAQ -30.31 SP500 -11.12 NASDAQ Adv/Vol/Dec 545/914 mln/1953 NYSE Adv/Vol/Dec 802/366 mln/2096

11:00 am : Stocks continue to trade near session lows after a disappointing consumer confidence reading prompted a broad-based selling effort that has failed to find relief.

Energy stocks are still among the worst performers this session. They are currently down 1.2%, collectively. Sharply lower oil prices haven't helped; crude oil prices were last quoted 2.0% lower at $78.75 per barrel.

Tech is the worst performing sector overall, though. The sector is currently down 1.3% as large-cap tech issues like Microsoft (MSFT 28.16, -0.57) and Intel (INTC 20.43, -0.44) fall out of favor. DJ30 -62.80 NASDAQ -25.56 SP500 -9.31 NASDAQ Adv/Vol/Dec 536/758 mln/1887 NYSE Adv/Vol/Dec 767/305 mln/2087

10:30 am : Overnight, the US Dollar Index rallied due to a weaker-than-expected German IFO report, pushing most commodities lower and into negative territory.

Crude initially hit fresh session lows around 7am ET around $78.40 per barrel, but after a failed attempt to recover, crude fell to new session lows again of $78.22 per barrel. Currently, crude is trading at $78.66 per barrel, down 2.1%. March natural gas has been in a downtrend for most of today's session, eventually hitting session lows of $4.812 per MMBtu right after the open of pit trading. The energy component recovered around half of its losses and is now down 0.7% at $4.86 per MMBtu.

Precious metals took a hit on the overnight rally in the dollar index, which pushed both April gold and March silver into negative territory. Gold just hit fresh lows again at $1105.20 per ounce, while silver hit its own lows of $15.90 per ounce earlier this morning. Both metals remain just above session lows as gold is trading 0.8% lower at $1104 per ounce and silver is down 2.2% at $15.86 per ounce. DJ30 -68.77 NASDAQ -26.35 SP500 -10.51 NASDAQ Adv/Vol/Dec 521/591.4 mln/1830 NYSE Adv/Vol/Dec 688/238.5 mln/2116

10:00 am : The Dow recently made its way to a modest gain, while the broader S&P 500 made traded along the unchanged mark, but stocks in the two widely-watched indices have since turned sharply lower following the release of the February Consumer Confidence Index, which came in at a lower-than-expected 46.0. That is the lowest reading since April 2009.

All 10 major sectors are now in negative territory.

Early movers: Trading up -- IFLG +68.7%, PIP +28.3%, ZLC +13.9%, NIV +13.9%, RDN +12.8%, PMI +11.4%, AVAV +8.3%, MTG +7.7%, PEIX +7.6%, EXPD +7.6%; Trading down -- BRCD -19.3%, OWW -10.5%, GLDD -10.4%, AZC -9.3%, CTV -9.1%, XJT -8.7%, PALM -8.7%, PEGA -8.1%, MELI -7.7%

Advancing Sectors: (None)
Declining Sectors: Energy (-1.1%), Materials (-0.9%), Tech (-0.7%), Consumer Staples (-0.6%), Utilities (-0.5%), Industrials (-0.5%), Health Care (-0.5%), Consumer Discretionary (-0.4%), Financials (-0.4%), Telecom (-0.4%)DJ30 -41.94 NASDAQ -15.01 SP500 -6.85 NASDAQ Adv/Vol/Dec 760/318 mln/1464 NYSE Adv/Vol/Dec 920/138 mln/1802

09:45 am : The stock market opened with a moderate loss, but it has quickly improved its position amid continued strengh among financial issues, which outperformed in the previous session with a gain of more than 1%. Financials are currently up to a 0.2% gain.

Energy continues to trade with weakness, though. It is currently down 0.4%. The sector also lagged in the previous session, when it dropped more than 1%. DJ30 +6.95 NASDAQ -5.49 SP500 -1.36 NASDAQ Adv/Vol/Dec 799/188 mln/1309 NYSE Adv/Vol/Dec 1058/82 mln/1548

09:15 am : S&P futures vs fair value: -2.70. Nasdaq futures vs fair value: -2.80. Stocks spent most of the previous session moving sideways in range bound trade as the dollar traded with little direction of its own, but the greenback has garnered support this morning, such that it is currently up 0.3% to a morning high against a basket of foreign currencies. That has helped drag down the mood of premarket participants, who have shown an underwhelming response to the latest batch of earnings results from Home Depot (HD), Macy's (M), Target (TGT), and Sears Holdings (SHLD), among others. However, the February Consumer Confidence Index at 10:00 AM ET could carry implications for how shares of those retailers trade this session, even though there is no empirical evidence that connects consumer confidence with consumer spending. As for Treasuries, action could also be stirred by the results from an auction of 2-year Treasuries at 1:00 PM ET.

09:05 am : S&P futures vs fair value: -3.00. Nasdaq futures vs fair value: -3.30. The S&P/Case-Shiller Home Price Index for December came in at 145.9, which is essentially on par with the 146.3 that had been widely expected. Meanwhile, the 20-city composite declined 3.1% year-over-year, as expected, but it marked a moderation from the 5.3% year-over-year decline that was registered in the prior month. The announcement hasn't done anything to lift stock futures, which continue to point to a lower start to the session.

08:35 am : S&P futures vs fair value: -3.10. Nasdaq futures vs fair value: -4.00. U.S. stock futures remain under moderate pressure, but Germany's DAX is down 0.8% as financial issues like Deutsche Bank (DB) and Commerzbank drag down trade. News that Germany's business climate was weaker than expected in a recent reading hasn't helped. Meanwhile, France's CAC is off by 0.4%. Societe Generale is a laggard for the second straight session, but GDF Suez and Sanofi-Aventis (SNY) have attempted to counterbalance its slide. BP PLC (BP) is a primary source of weakness for Britain's FTSE, but the FTSE has managed to remain at the unchanged mark amid support from HSBC (HBC). In Asia, Japan's Nikkei slipped to a 0.5% loss as Honda Motor (HMC) retreated. Reports indicate that the company had a 28% surge in worldwide production during January. Hong Kong's Hang Seng was able to put together a 1.2% advance amid strength in HSBC and China Construction Bank. Meanwhile, mainland China's Shanghai Composite slipped 0.7% as insurers came under pressure.

08:05 am : S&P futures vs fair value: -0.60. Nasdaq futures vs fair value: -2.00. A moderate uptick by the greenback against a basket of foreign currencies has helped drag down stock futures a bit ahead of the opening bell. Participants have also been largely unenthused about better-than-expected earnings and an upside outlook from home improvement retailer Home Depot (HD) and a positive earnings surprise from Sears Holdings (SHLD). Retailer Macy's (M) also just announced a bottom line beat, but Nordstrom (JWN) was short of the consensus earnings forecast. As for economic data, the S&P/Case-Shiller Home Price Index for December is due at 9:00 AM ET, followed by the Consumer Confidence Index for February at 10:00 AM ET.

06:29 am : S&P futures vs fair value: -1.90. Nasdaq futures vs fair value: -4.00.

06:29 am : Nikkei...10352.10...-48.40...-0.50%. Hang Seng...20623.00...+245.70...+1.20%.

06:29 am : FTSE...5345.72...-6.20...-0.10%. DAX...5645.40...-134.20...-1.30%.

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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