TheStrategyLab.com Price Action Trading Support Forum

Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Business Hours: 8am - 5pm est (Mon - Fri)
wrbanalysis@gmail.com (24/7)
http://twitter.com/wrbtrader (24/7)


click on the above image to view today's performance verification

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $0.00 dollars or +0.00 points, Emini ES ($ES_F) futures @ $12375.00 dollars or +247.50 points, Light Crude Oil CL ($CL_F) futures @ $0.00 dollars or +0.00 points, Gold GC ($GC_F) futures @ $0.00 dollars or +0.00 points and EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks. Total Profit @ $12375.00 dollars

Russell 2000 Emini TF Futures: 1 tick or 0.10 = $10.00 dollars and there's more contract information @ The ICE
S&P 500 Emini ES Futures: 1 tick or 0.25 = $12.50 dollars and there's more contract information @ CMEGroup
Light Crude Oil CL (WTI) Futures: 1 tick or 0.01 = $10.00 dollars and there's more contract information @ CMEGroup
Gold GC Futures: 1 tick or 0.10 = $10.00 dollars and there's more contract information @ CMEGroup
EuroFX 6E Futures: 1 tick or 0.0001 = $12.50 dollars and there's more contract information @ CMEGroup

Trade Log: All of my trades were posted real-time in the timestamp ##TheStrategyLab free chat room. You can read today's price action trading information about my trades (e.g. time, price entry, contract size, price exit) as the trade traversed to its completion. Also, sometimes I'll post real-time trading tips in ##TheStrategyLab chat room involving WRBs, WRB Hidden GAPs, Key Market Events (KME), Tutorial Chapters 2 & 3, WRB Zones, Reaction Highs/Lows, Contracting Volatility or Expanding Volatility. Its all archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=152&t=2264


Also, posted below are direct links to information about my price action trade methodology and trading plan (there's a difference between the two) 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/bar analysis). I'm primarily a day trader because it suits my personal lifestyle but I do occasionally swing trade and position trade. Simply, my trade method is applicable for position trading, swing trading and day trading.

##TheStrategyLab Chat Room is free. Members and I use the chat room to post WRB Analysis commentary, real-time trades and to post anything else related to trading. The chat room helps me tremendously in my own trading because I use it to document (journal) general volatility analysis involving WRB Analysis so that I can easily review at a later date my thoughts as I interacted with the markets...info I can not get from my broker statements. Also, this is not a signal calling chat room where a head trader tells you when to buy or sell and I do not have the time/energy/resources to manage a signal calling chat room. Access instructions for chat room @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164

Price Action Analysis via Advance WRB Analysis Tutorial Chapters @ http://www.thestrategylab.com/WRBAnalysisTutorials.htm and there's a free study guide of the WRB Analysis Tutorial Chapters 1, 2 and 3 @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=119&t=718

Analysis -----> Trade Signals

Trade Signal Strategies via Volatility Trading Report (VTR) @ http://www.thestrategylab.com/VolatilityTrading.htm and there's a free trade signal strategy @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=89 so that you can freely test drive one of our price action trade strategies with support (answering your questions) prior to purchasing the Volatility Trading Report (VTR). All WRB Analysis Tutorial Chapters 1 - 12 are included in the purchase of the Volatility Trading Report (VTR).

Daily Trading Plan Routine @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=282&t=3016 contains brief information about trading plan, market context, brokers, trading time frames, position size management and other discussions.

-----------------------------

Market Context Summaries

The below summaries by Bloomberg, Briefing, Reuters and Yahoo! Finance helps me to do a quick review of the fundamentals, FED/ECB/BOE/IMF actions or any important global economic events (e.g. Eurozone, MarketWatch.com) that had an impact on today's price action in many trading instruments I monitor during the trading day. Simply, I'm a strong believer that key market events causes key changes in supply/demand and volatility resulting in trade opportunities (swing points and strong continuation price actions) that reach profit targets. Thus, I pay attention to these key market events, intermarket analysis (e.g. Forex EurUsd, EuroFX 6E futures, Gold GC futures, Light Crude Oil (WTI) CL & Brent Oil futures, Eurex DAX futures, Euronext FTSE100 futures, Emini ES futures, Emini TF futures, Treasury ZB futures and U.S. Dollar Index futures) while using WRB Analysis from one trade to the next trade to give me the market context for price action trading before the appearance of my technical analysis trade signals. Therefore, I maintain these archives to allow me to understand what was happening on any given trading day in the past involving key market events to help better understand my trade decisions (day trading, swing trading, position trading)...something I can not get from my broker statements alone. Further, most financial websites remove (delete) their archives after a few years to make room for new content. Therefore, I maintain my own archives of the news content so that I have it available for me when financial websites no longer archives their content.


click on the above image to view today's price action of key markets


4:20 pm: [BRIEFING.COM] The stock market ended its volatile Tuesday affair on a positive note, with the S&P 500 advancing 0.8%. The stock market fixated on oil prices today after mostly quiet overseas sessions. Despite the moderate advance, the rally remained muted for most of the day thanks to ongoing commodity concerns. The tech-heavy Nasdaq (+1.0%) outperformed the benchmark index and the Dow Jones Industrial Average (+0.7%).

Oil rested on its overnight low until reports of a terrorist attack in Turkey pushed the energy-component higher. WTI crude was able to mount a rally into the U.S. open, but was unable to maintain that momentum. Declines in oil were mirrored across equities for the most of the day as WTI crude ended its pit session lower by 3.1% at $30.44/bbl. However, the energy component climbed in electronic trade and the stock market rallied alongside.

On the leaderboard, technology (+1.2%), health care (+1.2%), consumer discretionary (+1.0%), and industrials (+0.7%) lead the pack. On the flipside, energy utilities (-0.5%), telecom services (-0.4%), materials (+0.2%), energy (+0.4%), and consumer staples (+0.5%) underperformed.

In the heavily-weighted technology sector, large-cap components saw relative strength with increased buying interest following the recent selloff. Cornerstones, Alphabet (GOOGL 745.34, +12.27), Facebook (FB 99.37, +1.86), and Apple (AAPL 99.96, +1.43) sported advances between 1.5% and 1.9%. Elsewhere in the space, the high-beta chipmakers ended in liine with the broader market, evidenced by the 0.8% gain in the PHLX Semiconductor index. Inside the index Intel (INTC 32.68, +0.62) outperformed with a gain of 1.9% thanks to resumed coverage at JPMorgan Chase with an 'Overweight' designation.

Looking at the consumer discretionary space, large-cap constituents there also showed relative strength with Starbucks (SBUX 59.46, +1.64) rising 2.8% after the company announced that it's on pace to have 2000 stores in China after looking to add 500 in 2016. Other influential sector members like Disney (DIS 101.46, +1.54) and Netflix (NFLX 116.58, +1.61) added 1.5% and 1.6%, respectively.

Switching to health care , the insurance sub-sector lead the space with Anthem Inc. (ANTM 135.60, +7.24), UnitedHealth Group (112.26, +2.68), and Aetna (AET 109.15, +4.08) outperforming with gains between 2.5% and 5.6%. Elsewhere in the group, biotechnology paced the advance evidenced by the 1.6% gain in the iShares Nasdaq Biotechnology ETF (IBB 296.21, +4.52).

Treasuries ended just below their highs with the 10-yr yield slipping seven basis points to 2.10%.

Trading volume remained heavy with more than a billion shares changing hands at the NYSE floor once again.

On the economic front, the November Job Openings and Labor Turnover Survey showed that job openings increased to 5.431 million from October's revised 5.349 million figure (from 5.383 million).

Tomorrow, the weekly MBA Mortgage Index will be released at 7:00 ET while the Federal Reserve's January Beige Book and the December Treasury Budget will cross the wires at 14:00 ET.

Russell 2000 -8.1% YTD
Nasdaq -6.4% YTD
S&P 500 -5.2%
Dow Jones Industrial Average -5.2%

3:45 pm: [BRIEFING.COM]

WTI oil prices dropped below$30/barrel today for a short moment as the bloodbath continues
However, this move was short-lived and Feb WTI closed -3.1% at $30.44/barrel
Natural gas was notably weak today, tanking 5.4% at $2.26/MMBtu
In electronic trade, nat gas is now down 6%
Gold and silver spent today's session in the red. Feb gold lost $10.80 to end at $1085.20/oz, while Mar silver slipped 1% to $13.76/oz
Copper remains under $2, ending the day -0.7% at $1.96/lb

3:00 pm:

[BRIEFING.COM] As the stock market enters its final hour of trade, the major averages have moved back into positive territory with the Nasdaq (+0.6%) leading the Dow Jones Industrial Average (+0.4%) and the S&P 500 (+0.4%).

The heavily-weighted technology space (+1.1%) tops the leaderboard followed by health care (+0.8%), consumer discretionary (+0.7%), and industrials (+0.3%). On the flipside, utilities (-0.9%), energy (-0.7%), telecom services (-0.6%), and materials (-0.3%) trail.

In the heavily-weighted tech sector, Cognizant Technology Solutions (CTSH 59.32, +3.20) has has shown relative strength after reaffirming its FY 2015 guidance. The company has climbed 5.8% today as its estimates fall in line with analyst expectations. Elsewhere in the space, Intel (INTC 32.65, +0.59) continues to outperform with a gain of 1.8%.

Looking at commodities, WTI crude ended its pits session down 3.1% at $30.44/bbl while natural gas declined 5.4% at $2.26/MMbtu.

Switching to Treasuries, the benchmark note floats below its session high with the yield on the 10-yr note lower by eight basis points at 2.10%.



2:30 pm:

[BRIEFING.COM] The major averages float below their flat lines with the S&P 500 (-0.1%) narrowly trailing the Nasdaq (-0.1%).

On the bottom of the leaderboard, energy (-1.6%), utilities (-0.9%), telecom services (-0.9%), materials (-0.6%), and financials (-0.4%) remain behind. In front of the pack, technology (+0.4%), consumer discretionary (+0.3%), health care (+0.1%), and consumer staples (UNCH) lead.

Looking at the financials space, Wells Fargo (WFC 50.76, +0.65) shows relative strength following an upgrade to 'Outperform' from 'Market Perform' at Keefe Bruyette. This follows yesterday's upgrade to 'Buy' from 'Neutral' at Goldman Sachs. Elsewhere in the group, Bank of America (BAC 15.15, -0.15) and JPMorgan Chase (JPM 58.34, -0.49) underperform the space with losses of 0.9% apiece.

In Treasuries, the benchmark note trades higher with its yield lower by nine basis points at 2.08%.



2:00 pm:

[BRIEFING.COM] The major averages hover above their flat lines with the S&P 500 (UNCH) pacing the Dow Jones Industrial Average (UNCH) and trailing the tech-heavy Nasdaq (+0.2%).

Looking at the leaderboard, four of ten sectors remain in positive territory with consumer discretionary (+0.5%), technology (+0.5%), health care (+0.2%), and consumer staples (+0.1%) advancing. On the flipside, energy (-1.5%), telecom services (-0.9%), utilities (-0.8%), and materials (-0.6%) round out the board.

In the consumer staples space, Campbell Soup (CPB 53.03, +1.63) outperforms the sector after receiving a price target increase from $47 to $50 at Goldman Sachs. The company is trading higher by 3.2% and leading the space. Elsewhere in the group, Coca-Cola (KO 42.15, +0.57) and Hormel Foods (HRL 79.37, +1.35) show advances of 1.4% and 1.7%, respectively.

Looking at commodities, WTI crude has lifted from its session low but still shows a decline of 3.3% at $30.35/bbl as its pit close approaches at 14:30 ET.

Treasuries continue seeing higher buying interest as the yield on the benchmark note falls eight basis points at 2.10%.

1:25 pm:

[BRIEFING.COM] The S&P 500 started yesterday's session with a 13-point gain, but surrendered that advance into the close. Today, the benchmark index was up more than 23 points at the open, but the first half of the trading day has been very similar to yesterday, leaving the S&P 500 (-0.1%) right near its flat line at this juncture.

Similar to yesterday, the energy sector (-1.8%) has paced the pullback in the market due to continued selling in crude oil. The energy component rallied off the $30.50/bbl price level overnight, but could not build on its gain. Since then, crude has marked a new low, trading down 3.8% at $30.21/bbl.

The intraday pullback in stocks has been met with buying interest in the Treasury market, pressuring the 10-yr yield to 2.11% (-7 bps). It is worth noting that today's strength in Treasuries has pressured the benchmark yield back below its 200-day moving average (2.185%).
Related Quotes

1:10 pm:

[BRIEFING.COM] Equity indices hold slim losses at midday after pulling back from their opening highs. The S&P 500 trades lower by 0.1% after being up more than 1.0% shortly after this morning's opening bell. The major averages were spurred higher at the open by advancing futures and higher oil prices, but they have since returned the bulk of their advance due to oil's turnaround. The benchmark index trails the tech-heavy Nasdaq (+0.2%).

Overnight, the People's Bank of China adjusted the yuan fixed rate to 6.5628 from 6.5626 in an attempt to help stabilize their market. For its part, the Shanghai Composite (+0.2%) eked out a slim gain while most of the remaining Asian indices declined. Afterwards, oil rallied into our open, but was again unable to hold the $32.00/bbl price level. WTI crude currently trades lower by 4.0% at $30.15/bbl.

In front of the pack, consumer discretionary (+0.6%), technology (+0.6%), health care (+0.2%), and consumer staples (UNCH) lead while energy (-1.9%), utilities (-0.9%), telecom services (-0.7%), materials (-0.6%), and financials (-0.3%) trail.

Looking at energy, Dow components Exxon Mobil (XOM 73.46, -0.53) and Chevron (CVX 79.91, -0.86) outperform despite oil's retreat. On the other hand, independent oil and gas companies Anadarko Petroleum (APC 36.89, -0.86) and ConocoPhillips (COP 39.75, -1.37) have seen sharper declines as the two names show losses of 2.3% and 3.4%, respectively. On a related note, pipeline company Kinder Morgan (KMI 13.07, -1.09) has dealt with the headwinds from declining oil as well as falling natural gas prices, which have declined 4.7% at $2.28/MMbtu.

Switching to health care, the group has been near the top of the leaderboard since the opening bell thanks to relative strength in the health care insurance sub-sector. Anthem Inc. (ANTM 134.20, +5.84) and UnitedHealth Group (UNH 111.42, +1.91) have outperformed the sector and broader market thus far with respective gains of 4.6% and 1.7%. Elsewhere in the space, biotechnology underperforms evidenced by a 0.7% downtick in the iShares Nasdaq Biotechnology ETF (IBB 289.54, -2.15).

In the heavily-weighted technology sector, large-cap constituents Alphabet (GOOGL 741.64, +8.57) and Facebook (FB 9888, +1.37) sport respective advances of 1.2% and 1.5% amid overall strength in large tech companies following the recent selloff.

In Treasuries, the benchmark note has marked a new high in recent action with its yield lower by seven basis points at 2.11%.

On the economic front, the November Job Openings and Labor Turnover Survey showed that job openings increased to 5.431 million from October's revised 5.349 million figure (from 5.383 million).

12:25 pm:

[BRIEFING.COM] The major averages trade near their flat lines with the Dow Jones Industrial Average (-0.1%) trailing the S&P 500 (UNCH) and trailing the S&P 500 (+0.3%).

On the leaderboard, consumer discretionary (+0.5%), technology (+0.5%), health care (+0.4%), and consumer staples (UNCH) lead while energy (-0.7%), utilities (-0.9%), telecom services (-0.7%), and materials (-0.7%) trail.

In the heavily-weighted technology sector, large-cap constituent Alphabet (GOOGL 740.80, +7.75) is trading higher by 1.0% after receiving an upgraded price target at Credit Suisse from $850 to $900. To be fair though, fellow large-cap constituents have seen some increased buying interest in the face of the recent selloff. On that note, Facebook (FB 98.96, +1.45) and Apple (AAPL 99.24, +0.71) sport respective advances of 1.5% and 0.8%. Elsewhere in the space, the high-beta chipmakers underperform the sector evidenced by the 0.2% downtick in the PHLX Semiconductor index.

Switching to Treasuries, the benchmark note trades on its high with its yield lower by six basis points at 2.11%.

12:00 pm:

[BRIEFING.COM] As afternoon trading begins the major averages hover above their flat lines with the S&P 500 (+0.2%) trailing the tech-heavy Nasdaq (+0.5%).

In front of the pack, health care (+0.7%), consumer discretionary (+0.6%), technology (+0.6%), and consumer staples (+0.2%) lead while energy (-1.4%), utilities (-0.7%), telecom services (-0.6%), and materials (-0.5%) follow.

Looking at the consumer discretionary space, large-cap constituents are showing relative strength. Starbucks (SBUX 59.05, +1.23) is trading higher by 2.1% after the company announced that it's aims to open 500 new stores in China in 2016. Elsewhere, fellow big names Disney (DIS 101.17, +1.25) and Netflix (NFLX 116.61, +1.64) outperform the sector with respective gains of 1.3% and 1.4%.

Switching to Treasuries, the benchmark note trades near its high with its yield lower by five basis points at 2.12%.



11:30 am:

[BRIEFING.COM] The major indices hover above their session lows with the Dow Jones Industrial Average (-0.1%) trailing the S&P 500 (+0.1%), and the Nasdaq (+0.5%).

On the leaderboard, health care (+0.6%), consumer discretionary (+0.6%), technology (+0.4%), industrials (UNCH), and consumer staples (UNCH) lead while energy (-1.3%), materials (-0.8%), utilities (-0.7%), and telecom services (-0.7%) trail.

Looking at the health care space, the group has been near the top of the leaderboard since the opening bell, thanks to a strong showing from the health care insurance sub-sector. Anthem Inc. (ANTM 135.11, +6.75), UnitedHealth Group (111.71, +2.13), and Aetna (AET 108.87, +3.80) have outperformed the sector and broader market all morning with respective gains of 5.1%, 1.8%, 3.6%. Elsewhere in the space, biotechnology narrowly outpaces, evidenced by an uptick of 0.7% in the iShares Nasdaq Biotechnology ETF (IBB 293.65, +1.96).

In commodities, WTI crude has sunk 3.4% with oil trading at $30.32/bbl

Moving to Treasuries, the benchmark note trades near its high with its yield falling four basis points at 2.13%.

11:00 am:

[BRIEFING.COM] The major averages have slipped from their morning highs with the tech-heavy Nasdaq (+0.8%) leading the S&P 500 (+0.4%) and the Dow Jones Industrial Average (+0.3%).

Rounding out the bottom of the leaderboard, utilities (-0.9%) energy (-0.7%), materials (-0.6%), and telecom services (-0.3%) trail. In front of the pack, consumer discretionary (+1.0%), health care (+1.0%), technology (+0.9%), and industrials (+0.3%) lead.

In the energy space, the reversal in crude oil from this morning's high have had a relatively muted effect on Dow components Exxon Mobil (XOM 73.84, +0.15) and Chevron (CVX 80.45, 0.31). Elsewhere in the sector, however, independent oil and gas companies are feeling heavier pressure with Anadarko Petroleum (APC 36.42, -1.33) and ConocoPhillips (COP 40.56, -0.56) declining 3.5% and 1.4%, respectively.

Looking at commodities, WTI crude has surrendered 2.3% to trade at $30.70/bbl. Elsewhere, natural gas has declined 4.2% at $2.30/MMbtu.

Switching to Treasuries, the benchmark note trades on its high with the yield on the 10-yr note lower by three basis points at 2.15%.

10:30 am: [BRIEFING.COM]

Commodities, as measured by the Bloomberg Commodity Index, are trading lower this morning, partially seeing pressure on dollar strength
WTI oil rallied in earlier trade with the front-month Feb crude oil rising as high as $32.21/barrel
Feb crude oil is now -1.6% at $30.91/barrel.
Natural gas has been in the red all day and is now -4.6% at $2.29/MMBtu.
Gold is sliding lower today and recently hit a new low for the day
Feb gold is now -0.9% at $1086.50/oz, while Mar silver is -0.9% at $13.75/oz.
Copper futures continue to trade below $2.00/lb, currently -0.3% at $1.97/lb.

10:00 am:

[BRIEFING.COM] The S&P 500 trades higher by 1.1% as the Nasdaq (+1.5%) outperforms.

Just reported, the November Job Openings and Labor Turnover Survey showed that job openings increased to 5.431 million from a revised 5.349 million (revised from 5.383 million) in October.

9:40 am:

[BRIEFING.COM] As expected, the major indices have opened higher with the tech-heavy Nasdaq (+1.4%) leading the S&P 500 (+1.1%) and the Dow Jones Industrial Average (+1.1%).

On the top of the leaderboard, technology (+1.4%), consumer discretionary (+1.4%), health care (+1.4%), and energy (+1.3%) lead. On the flipside, countercyclical utilities (-0.1%) and telecom services (+0.3%) trail with industrials (+0.7%) following.

In commodities, WTI crude has slid from its pre-market high but shows an advance of 1.2% at $31.79/bbl.

Treasuries have inched up off their low, but the they now trade flat with the 10-yr note's yield unchanged at 2.17%.

The November Job Openings and Labor Turnover Survey, which will cross the wires at 10:00 ET.

9:14 am: [BRIEFING.COM] S&P futures vs fair value: +16.30. Nasdaq futures vs fair value: +40.00.

The stock market is on track for a higher open as S&P 500 futures trade 16 points above fair value.

In Commodities, WTI crude has rallied overnight from its $30.50/bbl level to trade higher by 1.1% at $31.74/bbl.

On the corporate front, Intel (INTC 32.61, +0.55) is trading higher by 1.7% following resumed coverage from JP Morgan and an upgrade at Mizuho. JP Morgan issued a rating of 'Overweight' and a price target of $40 on the company. Mizuho upgraded Intel to a 'Buy' from 'Neutral' with a price target of $37. Elsewhere in pre-market trading, Alcoa (AA 8.05, +0.05) trades higher by 0.6% after reporting a bottom-line beat on revenue that was just below analyst average estimates. The company noted that it sees demand for aluminum rising 6.0% next year due to industry curtailing.

Today will be a quiet day on the economic front with data limited to the November Job Openings and Labor Turnover Survey, which will cross the wires at 10:00 ET.

Switching to Treasuries, the benchmark note has moved off its pre-market low but the yield on the 10-yr note remains higher by one basis point at 2.18%.

8:58 am: [BRIEFING.COM] S&P futures vs fair value: +17.00. Nasdaq futures vs fair value: +42.50.

The S&P 500 futures trade 17 points above fair value.

Markets in the Asia-Pacific region ended Tuesday on a mixed note with Japan's Nikkei surrendering 2.7% after being closed yesterday while China's Shanghai Composite (+0.2%) eked out a slim gain after spending the night in a narrow range. As for the People's Bank of China, the central bank did not tinker with the yuan too much, adjusting the fix to 6.5628 from 6.5626. However, offshore yuan liquidity has tightened some more with the overnight Hong Kong Interbank Offered rate soaring to 66.8% from 4.0% on Friday. This suggests that recent actions from the PBoC have made it particularly difficult to short the yuan in offshore markets.

In economic data:
Japan's November Current Account surplus narrowed to JPY1.42 trillion from JPY1.49 trillion (expected surplus of JPY1.52 trillion). Separately, December Household Confidence 42.7 (expected 42.3; previous 42.6), December Economy Watchers Current Index 48.7 (consensus 46.7; last 46.1), and December Bank Lending +2.2% year-over-year (consensus 2.3%; last 2.3%)
New Zealand's ANZ Commodity Price Index -1.8% month-over-month (last -5.6%)

---Equity Markets---

Japan's Nikkei gapped down at the open and continued its retreat into the close, falling 2.7%. Every sector ended the day in negative territory, paced by energy (-5.0%), financials (-3.5%), and technology (-3.4%). Aeon, SUMCO, Sumitomo Metal Mining, Taiyo Yuden, Unitika, and Sony lost between 5.3% and 10.0%. Honda was the lone advancer, settling just above its flat line.
Hong Kong's Hang Seng lost 0.9%, falling to its lowest level since mid-June. Energy and property names struggled with China Resources Land, China Overseas, Henderson Land, Petrochina, CNOOC, and Kunlun Energy surrendering between 1.4% and 4.3%.
China's Shanghai Composite added 0.2%. China Shipbuilding Industry gained 3.0% and CITIC Securities added 1.3% while Nanjing Iron & Steel and Shanxi Coal International lost 6.3% and 3.3%, respectively.

Major European indices trade higher across the board thanks to a rally that began taking shape shortly after the opening bell. Regional equity markets have enjoyed broad-based strength with France's CAC (+2.5%) and Germany's DAX (+2.4%) pacing the advance. Economic data released this morning was limited to industrial production from the UK, which disappointed, pressuring the British pound.

In economic data:
UK's November Industrial Production -0.7% month-over-month (expected 0.0%; previous 0.1%); +0.9% year-over-year (consensus 1.7%; last 1.7%). Separately, November Manufacturing Production -0.4% month-over-month (consensus 0.1%; last -0.4%); -1.2% year-over-year (consensus -0.8%; last -0.2%)

---Equity Markets---

UK's FTSE is higher by 1.8% with all but six components in the green. Consumer names have shown strength with Tesco up 6.6% after peer Morrison Supermarkets reported better than expected results. Sainsbury, and Burberry Group are both up near 3.0% while miners Antofagasta, BHP Billiton, and Rio Tinto show losses between 0.4% and 1.5%.
France's CAC has climbed 2.5% with all 40 components trading higher. Exporters, Peugeot, Renault, and Valeo have gained between 3.5% and 6.0% while financials BNP Paribas, Credit Agricole, and Societe Generale have rallied between 1.7% and 2.2%.
Germany's DAX has spiked 2.4% amid broad strength. BMW, Daimler, and Volkswagen are among the leaders with gains between 2.4% and 4.0%. Elsewhere, Commerzbank and Deutsche Bank hold respective gains of 0.7% and 1.9%.

8:31 am: [BRIEFING.COM] S&P futures vs fair value: +17.00. Nasdaq futures vs fair value: +45.00.

Equity futures trade higher with S&P 500 futures trading 17 points above fair value.

In company news, lululemon athletica (LULU 59.75, +5.02) raised its Q4 guidance, citing stronger than anticipated holiday sales. The company raised its EPS estimate from $0.75-0.78 to $0.78-0.80 and raised its revenue guidance from $670-685 million to $690-695 million. Both of these guidance adjustments put the company's earnings over consensus expectations.

Meanwhile in commodities, WTI crude has climbed throughout the night and trades higher by 0.5% at $31.57/bbl.

Switching to Treasuries, the benchmark note trades near its low with its yield higher by two basis points at 2.19%.

8:02 am: [BRIEFING.COM] S&P futures vs fair value: +17.00. Nasdaq futures vs fair value: +46.90.

U.S. equity futures trade near their pre-market highs with the S&P 500 futures currently trading 17 points above fair value.

In Treasuries, the benchmark note sits near its overnight low with its yield lower by two basis point at 2.19%.

Once again, today will be very quiet on the economic front with data limited to the November Job Openings and Labor Turnover Survey, which will be released at 10:00 ET.

In U.S. corporate news of note:

Alcoa (AA 7.95, -0.05): -0.6% after reporting a bottom-line beat on revenue that was just below analyst average estimates. The company noted that it sees demand for aluminum rising 6.0% next year due to industry curtailing.
Starbucks (SBUX 58.47, +0.65): +1.1% following the company stating that it planns to open 500 stores in China this year
lululemon athletica (LULU 59.25 +4.52): +8.3% after raising Q4 guidance above consensus, citing strong holiday sales

Reviewing overnight developments:

Asian markets ended on a mixed note with Japan's Nikkei -2.7%, Hong Kong's Hang Seng -0.9%, and China's Shanghai Composite +0.2%.
In economic data:
Japan's November Current Account surplus narrowed to JPY1.42 trillion from JPY1.49 trillion (expected surplus of JPY1.52 trillion). Separately, December Household Confidence 42.7 (expected 42.3; previous 42.6), December Economy Watchers Current Index 48.7 (consensus 46.7; last 46.1), and December Bank Lending +2.2% year-over-year (consensus 2.3%; last 2.3%)
New Zealand's ANZ Commodity Price Index -1.8% month-over-month (last -5.6%)
Among news of note:
The People's Bank of China adjusted the fix on the yuan from 6.5626 to 6.5628.

Major European indices traded higher across the board with Germany'd DAX +2.5%, France's CAC +2.4%, and the U.K.'s FTSE +1.8%. Elsewhere, Italy's MIB +1.7% and Spain's IBEX +1.4%.
In economic data:
UK's November Industrial Production -0.7% month-over-month (expected 0.0%; previous 0.1%); +0.9% year-over-year (consensus 1.7%; last 1.7%). Separately, November Manufacturing Production -0.4% month-over-month (consensus 0.1%; last -0.4%); -1.2% year-over-year (consensus -0.8%; last -0.2%)

6:11 am: [BRIEFING.COM] S&P futures vs fair value: +11.50. Nasdaq futures vs fair value: +31.50.

6:11 am: [BRIEFING.COM] Nikkei...17219...-479.00...-2.70%. Hang Seng...19712...-176.70...-0.90%.

6:11 am: [BRIEFING.COM] FTSE...5943.04...+71.20...+1.20%. DAX...10058...+233.40...+2.40%.

Special thanks to Bloomberg, Briefing, Reuters and Yahoo! Finance for their market summaries.

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

http://www.thestrategylab.com
Phone: +1 708 572-4885
Business Hours: 8am - 5pm est (Mon - Fri)
Skype Messenger: kebec2002
wrbanalysis@gmail.com