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)
questions@thestrategylab.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 @ $230.00 dollars or +2.30 points, Emini ES ($ES_F) futures @ $2,937.50 dollars or +58.75 points, Light Crude Oil CL ($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 @ $3,167.50 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

In addition, all of my trades were posted real-time in the chat room. You can read today's chat room logs for details about each one of my trades via price action trading from entry to exit (e.g. time, price, contract size) along with price action commentary as the trade traversed to its completion...all archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=123&t=1658

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.

Price Action Analysis via WRB Analysis Tutorials @ 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

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 prior to purchasing the Volatility Trading Report (VTR).

Trading Plan Daily Routine @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=223&t=2061

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Market Context Summaries

The below summaries by Bloomberg, CNNMoney, 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.

Thanks, Bull Market! Stocks Keep Rallying


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

NEW YORK (CNNMoney)
Stocks were in the pre-holiday doldrums Tuesday. Volume was light. But the market continued its record run and shares of a number of major retailers were on the move ahead of Black Friday.

The Dow Jones industrial average, the S&P 500 and the Nasdaq all ended with modest gains. The Nasdaq closed above 4,000 for the first time in 13 years. The Dow gained a fraction of a point to hit another record closing high while the S&P 500 finished near its all-time peak.

After the market closed, Hewlett-Packard (HPQ, Fortune 500)reported quarterly earnings that topped analysts' forecasts and issued an upbeat outlook for full-year profits. CEO Meg Whitman said the company's turnaround remains on track, but she acknowledged that there is "much work to do." Shares rose sharply in extended trading.

Tiffany & Co. (TIF) shares soared to an all-time high after the jewelry retailer said sales and earnings surged in the third quarter, driven by strong demand in China.

Shares of struggling retailer J.C. Penney (JCP, Fortune 500) also rose after CEO Mike Ullman spent $1 million to buy 112,000 shares, according to a regulatory filing. The move seemed to boost confidence in J.C. Penney's turnaround plan. The worst performing stock in the S&P 500 this year, J.C. Penney has bounced back 25% in the past month.

There was a new twist in the ongoing Men's Warehouse saga. Shares of Jos. A. Bank (JOSB) surged after Men's Wearhouse (MW) offered to buy the rival suit seller for $1.5 billion. The offer comes weeks after Jos. A Banks made a hostile takeover bid for Men's Warehouse, which is also facing a proxy fight by its largest shareholder.

The news unleashed a slew of jokes on StockTwits, most of which revolved around Men's Wearhouse founder George Zimmer's famous tag line and the buy one get one free offers at Jos A. Bank.

"$JOSB $MW Buy one get one free...Your going to like the way you look..." said Mitchnole.

Barnes & Noble (BKS, Fortune 500)shares fell after the bookseller reported disappointing quarterly results as sales of the Nook e-reader continue to plunge. But excluding Nook sales, the results were not that bad, according to one StockTwits trader.

"As you can see. quarter was decent. definitely not a sinking ship, but not great either... $BKS," said MicroFundy.

The retail sector is in focus as consumers gear up for the holiday shopping frenzy, which unofficially begins on Black Friday. Overall, sales growth is expected to be the weakest since 2008, according to predictions from Morgan Stanley.

In an ominous sign, consumer confidence fell in November, following a sharp drop in October, according to a closely watched index from the Conference Board. "This could be a challenging holiday season for retailers," said Lynn Franco, an economist at the business research group.

Shares of major residential construction companies rose following strong reports on the housing market. Lennar (LEN), D.R. Horton (DHI) both gained about 4%.

Home prices continued to climb in the third quarter, rising 11% from a year earlier, according to the Case-Shiller index of prices in 20 cities. However, the quarter-over-quarter gain slowed to 3%. In the second quarter, prices jumped 7%.

Separately, applications for building permits rose 6.2% in October, according to the U.S. Census Bureau.

* Qualcomm faces antitrust scrutiny in China

Trading volume is expected to remain low this week as investors prepare for Thanksgiving. In addition, Hanukkah starts Wednesday.

"$SPY should see volume today worse than Christmas Eve.....everyone gone home by now," said slowslimslider.

With many fund managers gone for the week, some y traders said the market is being run by pre-programed trading algorithms.

"$SPY #ZZZZZZZZZZZZZZZZZZZZZZZZZZZZZ,wake me up at 4PM,all I see is Algo's churning! Boring,but again its a Stk. pickers MKT,stay awake!" said 1991previa.





4:20 pm: [BRIEFING.COM] The S&P 500 added less than a point while the Nasdaq outperformed with a gain of 0.6%.

Stocks saw a brief dip during the opening hour, but the relative strength of the tech-heavy Nasdaq was enough to encourage the S&P 500's deliberate, day-long climb. Similar to yesterday, a final-hour sell off knocked the indices off their highs, but unlike yesterday, the S&P managed to stay out of the red.

The discretionary sector (+0.5%) led from opening bell as all-around strength underpinned the growth-sensitive group. Luxury retailers took a cue from Tiffany (TIF 88.05, +7.06), which soared 8.7% after beating on earnings and revenue. Meanwhile, apparel retailers rallied after Men's Wearhouse (MW 50.60, +3.53) offered to acquire Jos. A. Bank (JOSB 56.29, +5.69) for $55 per share.

Homebuilders also provided a measure of support to the discretionary space following a set of better-than-expected housing data. The iShares Dow Jones US Home Construction ETF (ITB 23.33, +0.75) jumped 3.3%.

Elsewhere, momentum names played a part in today's advance. While several of these listings fall under the discretionary umbrella, the entire group contributed to the outperformance of the Nasdaq. Facebook (FB 45.89, +1.07), LinkedIn (LNKD 222.93, +6.31), and Priceline.com (PCLN 1177.98, +18.81) gained between 1.6% and 2.9% while the top index component, Apple (AAPL 533.40, +9.66), rallied 1.8%. In turn, the technology sector (+0.4%) ended among the leaders.

Outside of consumer discretionary and technology, the industrial sector (+0.6%) was the only other outperformer among cyclical groups. The sector received significant support from two of its top components as Boeing (BA 134.78, +1.78) and General Electric (GE 26.78, +0.05) posted respective gains of 1.3% and 0.2% following yesterday's underperformance.

Countercyclical groups trailed throughout the session, but only utilities (-1.0%) settled with a noteworthy loss. Consumer staples, health care, and telecom services ended with losses between 0.1% and 0.4%.

Treasuries settled near their highs as the 10-yr yield ticked down two basis points to 2.71%. More notably, the 5-yr yield shed four basis points to close at 1.30%, its lowest level in nearly a month.

Intraday participation was on the light side, but volume surged during the final hour as MSCI global quarterly review contributed to the increase in activity. When the dust settled, just under 830 million shares changed hands on the floor of the NYSE.

In today's economic data, building permit issuances increased in both September and October. Permits rose from 926,000 in August to 974,000 in September and 1.034 million in October. The Briefing.com consensus expected 932,000 building permit issuances for both September and October.

The jump in October brought permits to their highest level since June 2008. Delays from the government shutdown continue to plague the residential construction data. Reports on housing starts were not submitted on time, and the Census Bureau decided to push back the starts release until December 18. At that time, September, October, and November starts will all be released.

Also of note, the September Case-Shiller 20-city Home Price Index rose 13.3% while a 13.0% increase had been expected by the Briefing.com consensus. This follows the previous month's revised increase of 12.8%.

The September Housing Price Index from the FHFA increased 0.3%, which followed an uptick of 0.4% observed during the prior month.

Separately, the November Consumer Confidence Index fell to 70.4 from an upwardly revised 72.4 (from 71.2) in October. The Briefing.com consensus pegged the index at 72.4.

Confidence in October plummeted as concerns about the economy following the government shutdown weighed heavily on the minds of consumers. With the shutdown ending, it was expected that confidence would begin to improve. Even though normal indicators of confidence -- equity prices, gasoline costs, and labor conditions -- all generally strengthened in November, doubts about economic growth, likely stemming from the poor rollout of the Affordable Care Act, lowered consumer expectations.

Tomorrow, the weekly MBA Mortgage Index will be reported at 7:00 ET while weekly initial claims and October durable goods will be released at 8:30 ET. The Chicago PMI for November will cross the wires at 9:45 ET while the final reading of the Michigan Consumer Sentiment Survey will be reported at 9:55 ET. The busy day will be topped off with the 10:00 ET release of October leading indicators.

Russell 2000 +33.6% YTD
Nasdaq +33.1% YTD
S&P 500 +26.4% YTD
DJIA +22.7% YTD

3:30 pm: [BRIEFING.COM] Dec gold and Dec silver erased overnight gains and chopped around near the unchanged level despite weakness in the dollar index. Gold touched a pit session high of $1247.50 per ounce in morning action and eventually settled with a 20 cent gain at $1241.20 per ounce. Silver brushed a session low of $19.81 per ounce and settled at $19.85 per ounce, booking a 0.1% loss.

Jan crude oil fell for a third consecutive session despite the weaker dollar index. The energy component brushed a session high of $94.33 per barrel in morning pit trade but spent the remainder of the session in negative territory. It touched a session low of $93.55 per barrel and eventually settled with a 0.4% loss at $93.65 per barrel.

Jan natural gas, on the other hand, regained momentum after dipping to a session low of $3.79 per MMBtu in early afternoon floor trade. It pushed to a session high of $3.87 per MMBtu moments before settling with a 0.4% gain at $3.86 per MMBtu.

3:00 pm: [BRIEFING.COM] The S&P 500 trades higher by 0.3% with one hour remaining in today's session. The benchmark index held just above its flat line through the first half of the session before spending the afternoon in a steady climb. The discretionary sector (+0.7%) has been providing support from the start while industrials (+0.5%) and technology (+0.6%) began showing strength during the afternoon.

With just two trading days left in November, the S&P is on track to register a solid monthly gain of 2.9%. The Dow and Russell 2000 have outperformed the broader market as the two display November gains of 3.7% and 3.2%, respectively.

2:30 pm: [BRIEFING.COM] Equities remain near their highs as technology (+0.6%) and discretionary shares (+0.6%) continue providing leadership.

Prior to today's open, investors received a handful of quarterly reports with Tiffany's (TIF 88.14, +7.15) better-than-expected results providing a measure of support to the discretionary sector.

After today's closing bell, another nine companies will release their results with Hewlett-Packard (HPQ 25.24, -0.08) headlining the list. The Capital IQ consensus expects the computer company to report earnings of $1.00 on revenue of $2.79 billion.

2:00 pm: [BRIEFING.COM] The S&P 500 (+0.3%) has climbed to a fresh high, but the Nasdaq (+0.6%) and Russell 2000 (+0.8%) continue to trade ahead of the benchmark average.

Today's intraday trading volume has been running below average, and that is expected to continue through the rest of the session. With two hours remaining in today's affair, only 306 million shares have changed hands on the floor of the New York Stock Exchange.

Market breadth remains decidedly bullish with 1.4 advancing issues for every decliner listed on the NYSE.

1:25 pm: [BRIEFING.COM] Equity indices remain near their recent levels as the subdued afternoon continues. Consumer discretionary (+0.6%) and technology (+0.5%) continue to lead while only three sectors-health care (-0.1%), materials (-0.2%), and utilities (-0.9%)-hover in the red.

Elsewhere, Treasuries remain near their best levels of the session following a solid $35 billion 5-yr auction, which drew a yield of 1.340% and in-line bid/cover ratio of 2.61x. Indirect bidders received 50% of the supply, which offset a somewhat disappointing direct bid of 10.8%. Primary dealers were left with 39.2% of the supply.

The benchmark 10-yr note trades higher by eight ticks with its yield down three basis points at 2.70%.

1:00 pm: [BRIEFING.COM] Equity indices hold modest midday gains with the Nasdaq (+0.4%) providing leadership. Meanwhile, the S&P 500 has been confined to a four-point range as six of ten sectors hover in the green.

The Nasdaq has been setting the pace since the opening bell with momentum names driving the index. Facebook (FB 45.94, +1.12), LinkedIn (LNKD 221.90, +5.28), Priceline.com (PCLN 1181.40, +22.23), and Yelp (YELP 61.28, +3.08) are all up between 1.9% and 5.2%. Meanwhile, top tech components are somewhat mixed as Microsoft (MSFT 37.51, -0.13) and Intel (INTC 23.55, -0.20) hold respective losses of 0.2% and 0.7% while the largest component, Apple (AAPL 533.00, +9.26), outperforms with a gain of 1.8%.

The outperformance of the Nasdaq has given a boost to the technology (+0.5%) sector, which is among today's leaders. Only the discretionary space (+0.6%) trades ahead of technology as homebuilders and retailers contribute to the outperformance. The iShares Dow Jones US Home Construction ETF (ITB 23.25, +0.67) is higher by 3.0% after building permits and the Case-Shiller Index surpassed estimates. Also of note, Tiffany (TIF 87.97, +6.98) trades higher by 8.6% after beating on earnings.

On the downside, energy (unch) and materials (-0.2%) lag once again after spending yesterday's session in negative territory.

With regard to countercyclical sectors, telecom services trade in-line with the S&P 500 while the other three groups-consumer staples (unch), health care (-0.1%), and utilities (-0.9%)-lag.

In today's economic data, building permit issuances increased in both September and October. Permits rose from 926,000 in August to 974,000 in September and 1.034 million in October. The Briefing.com consensus expected 932,000 building permit issuances for both September and October.

The jump in October brought permits to their highest level since June 2008. Delays from the government shutdown continue to plague the residential construction data. Reports on housing starts were not submitted on time, and the Census Bureau decided to push back the starts release until December 18. At that time, September, October, and November starts will all be released.

Also of note, the September Case-Shiller 20-city Home Price Index rose 13.3% while a 13.0% increase had been expected by the Briefing.com consensus. This follows the previous month's revised increase of 12.8%.

The September Housing Price Index from the FHFA increased 0.3%, which followed an uptick of 0.4% observed during the prior month.

Separately, the November Consumer Confidence Index fell to 70.4 from an upwardly revised 72.4 (from 71.2) in October. The Briefing.com consensus pegged the index at 72.4.

Confidence in October plummeted as concerns about the economy following the government shutdown weighed heavily on the minds of consumers. With the shutdown ending, it was expected that confidence would begin to improve. Even though normal indicators of confidence -- equity prices, gasoline costs, and labor conditions -- all generally strengthened in November, doubts about economic growth, likely stemming from the poor rollout of the Affordable Care Act, lowered consumer expectations.

12:25 pm: [BRIEFING.COM] The S&P 500 has overtaken its morning high as the index builds on the continued strength of technology (+0.5%) and discretionary shares (+0.6%). However, outside of the two groups, only three other sectors-financials (+0.2%), industrials (+0.4%), and telecom services (+0.3%)-register gains larger than 0.1%.

Elsewhere, Treasuries have padded their early gains, sending the 10-yr yield lower by three basis points to 2.70%.

12:00 pm: [BRIEFING.COM] The Nasdaq has continued its steady climb while the Dow and S&P 500 remain near their recent levels.

Consumer discretionary and financials displayed early strength, but the two groups have since diverged. The financial space has retreated steadily, trimming its gain to 0.1% while the discretionary sector (+0.4%) has climbed to a fresh high. Homebuilders are making a significant contribution to the outperformance as the iShares Dow Jones US Home Construction ETF (ITB 23.24, +0.66) trades higher by 2.9%. The broad strength among builders comes after September and October building permits and the September Case-Shiller Index surpassed expectations.

Elsewhere, industrials (+0.3%) and technology (+0.3%) have joined the discretionary space among the leaders.

11:30 am: [BRIEFING.COM] The major averages continue to trade inside narrow ranges with the Nasdaq (+0.3%) providing leadership. Even though the tech-heavy index led a brief morning dip, it has since returned into the catbird seat.

The earlier bout of weakness was largely due to the underperformance of momentum names, but that industry group has been able to erase its losses. Facebook (FB 45.47, +0.65), LinkedIn (LNKD 219.84, +3.22), and Priceline.com (PCLN 1173.27, +14.10) are all up between 1.2% and 1.5% while Tesla (TSLA 119.50, -1.34) remains in the red.

10:55 am: [BRIEFING.COM] The Dow and S&P 500 have returned to their opening highs while the Nasdaq has risen to a fresh session-best. It appears as though participants are in for another range bound session with trading volume running below average. Through the first 90 minutes of the trading day, the S&P 500 has bounced inside of a four-point range as individual sectors trade in mixed fashion.

Consumer discretionary and financials have displayed strength since the open, but gains among the two sectors have been limited to 0.3% apiece. Not all cyclical sectors appear among the leaders as energy (-0.1%) and materials (-0.4%) lag for the second day in a row.

Elsewhere, telecom services (+0.3%) is the only outperformer among countercyclical sectors while consumer staples (-0.3%), health care (unch), and utilities (-0.8%) trail.

10:30 am: [BRIEFING.COM] Precious metals and crude oil have rebounded from recent session lows after erasing most of their overnight gains. Dec gold dipped to a session low of $1240.90 moments after equity markets opened while Dec silver touched a session low of $19.84. However, both metals have ticked higher following the release of Nov Consumer Confidence data that came in below expectations. Currently, gold is up 0.4% at $1246.30 and silver is up 0.3% at $19.94.

Jan crude oil briefly dipped into negative territory and to a session low of $93.83 but has now recovered into the black. It is now trading 0.2% higher at $94.27.

Jan natural gas also erased its overnight gains and has been chopping around near the unchanged level. It touched a session high of $3.86 but is now down 0.3% at $3.83.

10:00 am: [BRIEFING.COM] Equity indices have retreated from their opening levels, pushing the Nasdaq into the red. Biotechnology weighs on the index as the iShares Nasdaq Biotechnology ETF (IBB 222.44, -0.35) trades lower by 0.2%. Momentum names have also contributed to the retreat as Facebook (FB 43.70, -1.12) and Tesla (TSLA 116.60, -4.24) hold respective losses of 2.5% and 3.5%.

Just released, the consumer confidence reading for November came in at 70.4 while economists polled by Briefing.com expected the survey to come in at 72.4. This follows the prior month's revised reading of 72.4 (from 71.2).

9:45 am: [BRIEFING.COM] The major averages climbed out of the gate with the Dow Jones setting the pace as 22 of 30 components register gains. Meanwhile, the broader market is receiving support from three cyclical sectors-consumer discretionary (+0.3%), financials (+0.3%), and technology (+0.2%).

On the flip side, countercyclical sectors lag with utilities (-0.5%) rounding out the bottom of the early leaderboard.

Elsewhere, Treasuries remain confined to narrow ranges with the 10-yr yield off one basis point at 2.72%. November consumer confidence will be reported at 10:00 ET.

9:15 am: [BRIEFING.COM] S&P futures vs fair value: +0.80. Nasdaq futures vs fair value: +3.20. Equity indices are poised for a flat start to the session after index futures surrendered their slim pre-market gains. Overseas action has not generated too much excitement as markets in Asia posted modest losses while European indices trade in mixed fashion.

The discretionary sector is expected to display early strength as Tiffany (TIF 86.05, +5.06) holds a pre-market gain of 6.3% after beating on earnings and revenue. Among notable company news, Jos. A. Bank (JOSB 56.57, +5.97) trades higher by 11.5% in pre-market action after Men's Wearhouse (MW 50.68, +3.61) offered to acquire all of the outstanding shares of JOSB for $55 per share, representing an implied enterprise value of roughly $1.2 billion.

Treasuries are little changed with the 10-yr yield at 2.73%.

9:05 am: [BRIEFING.COM] S&P futures vs fair value: +1.00. Nasdaq futures vs fair value: +3.50. The S&P 500 futures have returned to their flat line.

Markets across Asia ended mixed as a relatively quiet session in terms of data and news flow walked to the close. Japan's Nikkei (-0.7%) finished among the laggards after the latest Bank of Japan minutes showed two members dissented as they believed not enough attention was being paid to downside risks to the economy. A flat session developed in Hong Kong's Hang Seng (UNCH) and China's Shanghai Composite (-0.1%) despite comments from a PBOC official who indicated the Middle Kingdom's economy should have no trouble growing at 8.0% in the coming years. Australia's ASX (+0.1%) eked out a gain following remarks from RBA Deputy Governor Philip Lowe indicated that while intervention cannot be ruled out, the threshold for any such action would be high.

In Japan, the Nikkei lost 0.7% as action pulled back from a six-month high. Exporters weighed as a result of the stronger yen with Fanuc and Honda Motor both giving up 1.9%.
Hong Kong's Hang Seng finished flat as shares lingered near 10-month highs. Energy stocks lagged as Sinopec shed another 2.6% following the pipeline explosion that occurred over the weekend. Meanwhile, property stocks outperformed with Hang lung Properties adding 1.2%.
In China, the Shanghai Composite shed 0.1% amid a choppy trade. Companies based in Ningbo saw a lift on expectations the city would be approved as a free-trade zone. Ningbo Port surged 9.8% while Ningbo Marine climbed the daily limit, 10.0%.

Major European indices are mixed as Spain's IBEX (+0.4%) leads while Great Britain's FTSE (-0.4%) lags. Among headlines of note, ECB Governing Council member Christian Noyer said interest rates will remain low for an extended period of time as the recovery remains weak and fragile. Economic data was limited to just one data point as Italian consumer confidence rose to 98.3 from 97.3 (97.3 expected).

Great Britain's FTSE trades lower by 0.4% as miners lag. Anglo American, Fresnillo, and Glencore Xstrata are all down between 1.5% and 2.2%. On the upside, retailer Wolseley outperforms with a gain of 2.9%.
In France, the CAC holds a loss of 0.1% as consumer staples weigh. Danone and Pernod Ricard display respective losses of 1.5% and 2.9%. Defense contractor Safran outperforms with a gain of 1.3%.
Germany's DAX is higher by 0.1% as 22 of 30 components trade in positive territory. Exporters are among the leaders as BMW and Daimler trade higher by 0.2% and 0.6%, respectively.
In Spain, the IBEX trades with a gain of 0.4% with industrials in the lead. Acciona is higher by 1.0% and Sacyr trades up 5.5%.

In domestic economic news, the September Case-Shiller 20-city Home Price Index rose 13.3% while a 13.0% increase had been expected by the Briefing.com consensus. This follows the previous month's increase of 12.8%.

Separately, the September Housing Price Index from the FHFA increased 0.3%, which followed an uptick of 0.4% observed during the prior month.

8:32 am: [BRIEFING.COM] S&P futures vs fair value: +2.40. Nasdaq futures vs fair value: +4.00. The S&P 500 futures trade higher by 0.1%.

September building permits rose to 974,000 from the prior month's upwardly revised rate of 926,000 (from 918,000). That was above the pace of 932,000 that had been expected among economists polled by Briefing.com. For October, permits increased to 1,034,000 while the Briefing.com consensus expected a reading of 932,000.

7:57 am: [BRIEFING.COM] S&P futures vs fair value: +2.50. Nasdaq futures vs fair value: +4.50. U.S. equity futures hold modest gains amid cautious overseas action. The S&P 500 futures trade higher by 0.1%.

Looking at overnight developments:

Asian markets ended lower. Japan's Nikkei -0.7%, China's Shanghai Composite -0.1%, and Hong Kong's Hang Seng settled little changed.
Economic data was limited:
Japan's CSPI ticked up 0.8% year-over-year (0.9% forecast, 0.7% prior).
Hong Kong's trade deficit narrowed to HKD38.10 billion from HKD42.00 billion (HKD40.00 billion forecast).
South Korea's consumer confidence improved to 107 from 106 (103 expected).
Singaporean industrial production rose 8.0% year-over-year (9.2% expected, 9.2% prior).
In news:
People's Bank of China Governor Zhou Xiaochuan said domestic inflation is stable, but monetary policy should be conducted in prudent fashion.

Major European indices are mixed. France's CAC -0.1%, Great Britain's FTSE -0.4%, and Germany's DAX +0.1%. Elsewhere, Italy's MIB +0.2% and Spain's IBEX +0.4%.
Investors received just one economic data point:
Italian consumer confidence rose to 98.3 from 97.3 (97.3 expected).
Among news of note:
ECB Governing Council member Christian Noyer said that interest rates will remain low for an extended period as the recovery remains weak and fragile.

In U.S. corporate news:

Children's Place (PLCE 50.75, -1.13): -2.2% after reporting a bottom-line beat on below-consensus revenue. In addition, the company guided fourth quarter earnings below consensus.
DSW (DSW 44.50, -2.72): -5.8% following its in-line earnings on below-consensus revenue.
Tiffany (TIF 86.00, +5.01): +6.2% after beating on earnings and revenue. In addition, the company raised its full-year 2014 earnings guidance above analyst expectations.

Building permits for September and October will be reported at 8:30 ET while the September Case-Shiller 20-city Index and September FHFA Housing Price Index will be released at 9:00 ET. The day's data will be topped off with the 10:00 ET release of the November Consumer Confidence Index.

6:14 am: [BRIEFING.COM] S&P futures vs fair value: +1.00. Nasdaq futures vs fair value: +1.50.

6:14 am: [BRIEFING.COM] Nikkei...15515.24...-103.90...-0.70%. Hang Seng...23681.28...-3.20...0.00.

6:14 am: [BRIEFING.COM] FTSE...6668.32...-26.30...-0.40%. DAX...9295.79...-4.00...0.00.

Special thanks to Bloomberg, CNNMoney, 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)
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