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 @ $5,250.00 dollars or +52.50 points, Emini ES ($ES_F) futures @ $2,562.50 dollars or +51.25 points, Light Crude Oil CL ($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 @ $7812.50 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 timestamp ##TheStrategyLab 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 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=133&t=1864


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 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 (answering your questions) prior to purchasing the Volatility Trading Report (VTR).

Trading Plan Daily Routine @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=244&t=2455

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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. 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

Yahoo! Finance

4:10 pm: [BRIEFING.COM] The stock market finished an upbeat week on a cautious note after a late-morning headline interrupted an extension of this week's rally. Despite the intraday weakness, the major averages were able to climb off their lows into the close. The S&P 500 settled right below its flat line with six sectors ending in the green. The benchmark index posted a 1.2% gain for the week while the Nasdaq outperformed. The tech-heavy index added 0.3% to extend this week's advance to 2.2%.

Like yesterday, equities climbed out of the gate with biotechnology claiming the lead at the start of the session. However, the advance was halted after the spokesman for Ukraine's National Security and Defense Council said the country's army destroyed a part of an armed convoy from Russia. The news sent U.S. and European equity indices to lows, while boosting German Bunds, U.S. Treasuries, and the yen.

Notably, Germany's Bunds finished on their highs with the 10-yr yield down seven basis points at 0.95%. Similarly, the U.S. 10-yr note rallied in reaction to the news from Ukraine, but surrendered a portion of its gain during afternoon action. The benchmark yield fell six basis points to 2.34% to register its lowest close since mid-June of last year.

One could argue that the market was ripe for some profit taking after a run that saw the S&P 500 log four gains over the past five sessions. Similarly, European equities were forced to give back a portion of their gains from this week.

Six sectors registered losses with telecom services (-0.4%) finishing at the bottom of the leaderboard. Meanwhile, heavily-weighted consumer discretionary (-0.1%), financials (-0.4%), and industrials (-0.3%) also ended among the laggards, which prevented the S&P 500 from returning into the green.

However, the Nasdaq Composite was able to claw its way back into positive territory with help from biotechnology and chipmakers. The iShares Nasdaq Biotechnology ETF (IBB 263.41, +2.21) added 0.9% to end the week higher by 4.7%. Microchip manufacturers also contributed to the outperformance of the Nasdaq with the PHLX Semiconductor Index climbing 1.0%. Applied Materials (AMAT 22.48, +1.33) was a standout, surging 6.3% after reporting a one-cent beat. For its part, the technology sector (+0.1%) ended little changed.

Also of note, the energy space (+0.5%) finished in the lead, rebounding from this week's underperformance. The sector trimmed its weekly loss to 0.5%, while crude oil jumped 1.9% to $97.31/bbl. Despite the advance, the energy component shed 0.3% during the week.

After registering the lowest NYSE floor volume of the year yesterday, today's participation was boosted by options expiration. As a result, more than 740 million shares changed hands at the NYSE.

Economic data included the PPI report, Empire Manufacturing survey, Net Long-Term TIC Flows, Industrial Production, Capacity Utilization, and the preliminary reading of the Michigan Sentiment survey:

Producer prices increased 0.1% in July after increasing 0.4% in June, while the Briefing.com consensus expected an increase of 0.2%
As expected, energy prices declined in July, falling 0.6%
Excluding food and energy, core PPI rose 0.2% for a second consecutive month, as expected by the consensus
The Empire Manufacturing Survey for August registered a reading of 14.7, which was below the prior month's reading of 25.6
The Briefing.com consensus expected a decline to 15.5
The June net long-term TIC flows report showed an $18.70 billion outflow of foreign capital from U.S.-denominated assets to follow last month's inflow of $19.40 billion
Industrial production increased 0.4% in July after an upwardly revised 0.4% (from 0.2%) gain in June, while the Briefing.com consensus expected an increase of 0.3%
Capacity utilization hit 79.2%, as expected by the Briefing.com consensus
The University of Michigan Consumer Sentiment Index fell to 79.2 in the August preliminary reading from 81.8 in July, while the Briefing.com consensus expected an increase to 81.7

On Monday, the NAHB Housing Market Index for August will be released at 10:00 ET.

Nasdaq Composite +6.9% YTD
S&P 500 +5.8% YTD
Dow Jones Industrial Average +0.5% YTD
Russell 2000 -2.0% YTD

Week in Review: Stocks Climb Amid Paltry Volume

The major averages began the new week on a modestly higher note. The S&P 500 settled higher by 0.3% with seven sectors registering gains, while the Russell 2000 (+1.0%) and Nasdaq Composite (+0.7%) outperformed. For its part, the Dow Jones Industrial Average (+0.1%) was limited to a slim gain as blue chip listings had a tough time keeping pace. Equity indices climbed from the opening bell with the early advance supported by upbeat action overseas. Furthermore, a slight improvement on the geopolitical scene was also cited for the improved sentiment. Specifically, a ceasefire was agreed upon in Gaza on Sunday, while pro-Russian separatists in east Ukraine also asked for a pause in .

Equity indices stumbled on Tuesday with the Russell 2000 pacing the slide. The small-cap index lost 0.7%, while the S&P 500 (-0.2%) gave back most of its advance from the previous day. Stocks spent the first hour of action near their flat lines after index futures slumped from their overnight highs shortly ahead of the cash open. The early weakness took place as markets in Europe retreated in reaction to disappointing survey data. Specifically, Eurozone ZEW Economic Sentiment plunged to 23.7 from 48.1 (expected 41.3), while Germany's ZEW Economic Sentiment dropped to 8.6 from 27.1 (consensus 18.2). The news from overseas contributed to the shaky start and so did the underperformance of some closely-watched groups. Most notably, the top-weighted sector-technology (-0.2%)-spent the majority of the trading day in the red amid broad weakness. Chipmakers lagged early, but the PHLX Semiconductor Index was able to narrow its loss to 0.1% by the close.

The stock market finished the midweek session on an upbeat note with the Nasdaq Composite in the lead. The tech-heavy index advanced 1.0%, while the S&P 500 added 0.7% with all ten sectors ending in the green. The key indices registered roughly half of their gains at the open with heavily-weighted health care (+1.2%) and technology (+1.1%) providing support from the start. In fact, only one other sector-industrials (+0.8%)-ended ahead of the broader market.

Stocks posted modest gains on Thursday with the S&P 500 (+0.4%) extending its week-to-date advance to 1.2%. Small caps lagged throughout the session as the Russell 2000 (+0.2%) was unable to reclaim its 200-day moving average (1145). Despite receiving disappointing economic data from overseas (Eurozone GDP 0.0%; expected 0.1%), equity indices climbed out of the gate with Wednesday's leading sector-health care-pacing the advance once again. The third-largest sector added 1.2% with help from biotechnology. The iShares Nasdaq Biotechnology ETF settled higher by 1.6% to extend its weekly gain to 3.8%. It is worth mentioning that the Thursday rally lacked conviction, generating the lowest NYSE floor volume of the year (506 mln).

3:30 pm: [BRIEFING.COM]

Dec gold traded lower today but erased some losses after the spokesman for Ukraine's National Security and Defense Council said the country's forces destroyed a part of an armed convoy from Russia.
The precious metal dipped to a session low of $1293.00 per ounce in early morning action and reversed back above the $1300 per ounce level following the Ukraine headlines. It eventually settled 0.7% lower at $1306.60 per ounce, booking a loss of 0.3% for the week.
Sep silver also spent today's session in the red, sliding as low as $19.51 per ounce. Unable to gain buying support, it settled 1.9% lower at $19.52 per ounce, bringing losses for the week to 2.1%.
Sep crude oil lifted from its session low of $95.66 per barrel in early morning floor trade and trended higher on the Ukraine news. The energy component touched a session high of $95.70 per barrel moments before settling with a 1.9% gain at $97.31 per barrel. Today's move higher helped cut losses for the week to 0.3%.
Sep natural gas, on the other hand, traded in negative territory today. It tumbled as low as $3.76 per MMBtu and settled 3.3% lower at $3.77 per MMBtu, booking a weekly loss of 4.8%.

3:00 pm: [BRIEFING.COM] The S&P 500 (-0.1%) hovers just below its flat line with one hour remaining in the session. Despite the late-morning slide, the benchmark index has been able to find intraday support in the 1950 area, and a recent bid has sent the benchmark average back to its flat line.

Meanwhile, the Nasdaq (+0.2%) is showing relative strength thanks a resurgence in the biotech space. The iShares Nasdaq Biotechnology ETF (IBB 263.28, +2.08) has returned to its best level of the session and is higher by 0.8%. This puts the ETF on track to finish the week with a 4.7% advance.

2:25 pm: [BRIEFING.COM] Quiet afternoon action continues with the S&P 500 lower by 0.2%.

Investors received a full slate of data today, but that capped a relatively quiet week on the economic front. Similarly, next week will feature a handful of data points, but none of the reports are expected to generate a significant reaction in the market.

Monday's data will be limited to the 10:00 ET release of the NAHB Housing Market Index for August, while Tuesday will bring the July CPI report as well as Housing Starts and Building Permits for July.

On Wednesday, the weekly MBA Mortgage Index will cross the wires at 7:00 ET, while the minutes from the latest Fed policy meeting will be released at 14:00 ET.

The heaviest batch of data will be released on Thursday with Initial Claims, July Existing Home Sales, August Philadelphia Fed Survey, and the Leading Indicators report for July on the schedule. The Initial Claims report will be released at 8:30 ET, while the remaining data points will cross at 10:00 ET.

2:00 pm: [BRIEFING.COM] Not much change in the major averages as they remain near their recent levels. In our midday update, we highlighted a handful of influential cyclical sectors that trailed the broader market.

Since then, financials (-0.9%) and industrials (-0.8%) have extended their losses, and the consumer discretionary space is now lower by 0.5%. Despite the weakness, the three groups continue holding week-to-date gains between 0.5% and 0.8%.

Elsewhere, energy (+0.1%) and utilities (+0.1%) have ticked down from their afternoon highs.

1:30 pm: [BRIEFING.COM] The major averages remain near their recent levels with the S&P 500 trading lower by 0.3%. Furthermore, the benchmark index has spent the past hour within a five-point range.

Although the S&P 500 hasn't moved much in recent action, the utilities sector (+0.4%) has inched to a new afternoon high, but is still a bit below its best level of the morning. Including the advance, the rate-sensitive sector is higher by 1.1% for the week versus a 0.9% gain for the S&P 500.

Elsewhere among countercyclical groups, consumer staples (-0.1%) outperform, while telecom services (-0.7%) lag. For its part, the health care sector trades in line with the S&P 500.

12:55 pm: [BRIEFING.COM] Equity indices hover near their lows at midday on this options expiration Friday. The S&P 500 trades lower by 0.3%, while the Russell 2000 (-0.8%) underperforms.

Similar to yesterday, the market began the session on an upbeat note with the biotech group showing notable strength for the third day in a row. However, the S&P 500 was knocked down to fresh lows after the spokesman for Ukraine's National Security and Defense Council said the country's army destroyed a part of an armed convoy from Russia. In addition to pressuring U.S. and European equities, the news boosted German Bunds, U.S. Treasuries, and the yen.

Notably, the safe-haven demand pressured Germany's 10-yr yield (-7 bps at 0.95%) below the 1.00% mark, while the U.S. benchmark yield (-8 bps at 2.32%) slipped to its lowest level since mid-June 2013. Also of note, the dollar/yen pair fell to a low near 102.20 after marking an early high near 102.75.

One could argue that the market was due for some profit taking after a run that saw the S&P 500 log four gains over the past five sessions. Despite the earlier flush the S&P 500 remains on course to finish the week higher by 0.9%. The Nasdaq, meanwhile, sports a week-to-date gain of 1.7%.

Similarly, nine of ten sectors continue holding week-to-date gains between 0.3% (telecom services) and 1.9% (health care), while today's outperformer-energy (+0.4%)-remains down 0.7% for the week.

Today, however, the growth-sensitive sector has been supported by crude oil, which is higher by 1.2% at $96.70/bbl. Elsewhere among cyclical sectors, consumer discretionary (-0.3%), financials (-0.6%), and industrials (-0.5%) lag, while materials (-0.1%) and technology (-0.1%) outperform.

The relative strength of the tech sector could become a supportive factor during afternoon action, but a sustained rebound will require participation from some of the heavily-weighted laggards.

On the countercyclical side, the health care sector trades in line with the broader market, while biotechnology outperforms slightly. The iShares Nasdaq Biotechnology ETF (IBB 260.78, -0.42) holds a loss of 0.2%.

Economic data included the PPI report, Empire Manufacturing survey, Net Long-Term TIC Flows, Industrial Production, Capacity Utilization, and the preliminary reading of the Michigan Sentiment survey:

Producer prices increased 0.1% in July after increasing 0.4% in June, while the Briefing.com consensus expected an increase of 0.2%
As expected, energy prices declined in July, falling 0.6%
Excluding food and energy, core PPI rose 0.2% for a second consecutive month, as expected by the consensus
The Empire Manufacturing Survey for August registered a reading of 14.7, which was below the prior month's reading of 25.6
The Briefing.com consensus expected a decline to 15.5
The June net long-term TIC flows report showed an $18.70 billion outflow of foreign capital from U.S.-denominated assets to follow last month's inflow of $19.40 billion
Industrial production increased 0.4% in July after an upwardly revised 0.4% (from 0.2%) gain in June, while the Briefing.com consensus expected an increase of 0.3%
Capacity utilization hit 79.2%, as expected by the Briefing.com consensus
The University of Michigan Consumer Sentiment Index fell to 79.2 in the August preliminary reading from 81.8 in July, while the Briefing.com consensus expected an increase to 81.7

12:30 pm: [BRIEFING.COM] The S&P 500 (-0.3%) remains near its recently-established lows with eight sectors showing losses. On the upside, energy (+0.3%) and utilities (+0.2%) hold narrow gains.

Even though eight groups hover in the red at this juncture, all eight remain on track to register weekly gains between 0.3% (telecom services) and 1.8% (health care). This week's lone declining sector, energy, has shed 0.7% since last Friday.

Interestingly, this week's rally in equities has been accompanied by solid gains in the Treasury market. As a result, the benchmark yield is on course for its lowest finish since mid-June 2013 (2.32%) after ending last week at 2.42%.

12:00 pm: [BRIEFING.COM] The S&P 500 (-0.6%) has slid to a new session low with dip buyers reluctant to step in after the Ukraine-related news sent the indices into the red. Despite the current weakness, the major averages remain on track to end the week on a higher note. The S&P 500 has added 0.7% this week, while the Nasdaq Composite has shown relative strength. The tech-heavy index outperforms slightly today (-0.5%) and is higher by 1.4% for the week.

Elsewhere, continued safe-haven demand has sent German Bunds to new highs, pressuring the benchmark yield to 0.95%. Similarly, U.S. Treasuries have extended their gains and the 10-yr yield is now down 10 basis points at 2.31%.

Also of note, the CBOE Volatility Index (VIX 14.69, +2.27) is nearing the 15.00% mark with participants demanding downside protection.

11:25 am: [BRIEFING.COM] Equity indices have inched up off their lows, but the S&P 500 (-0.3%) remains in the red with seven sectors holding losses. Notably, heavily-weighted consumer discretionary (-0.4%), financials (-0.5%), and industrials (-0.4%) are among the laggards after showing relative strength earlier in the session.

Elsewhere, Treasuries remain bid following the reports of Ukraine's army striking an armed convoy from Russia. The benchmark 10-yr note has ticked down from its high, but continues holding a solid gain with its yield down seven basis points at 2.33%.

Also of note, gold futures have erased roughly half of their losses and are now down 0.8% at $1305.80/ozt.

11:00 am: [BRIEFING.COM] Recent action saw the major averages drop to new lows for the day with the S&P 500 (-0.3%) diving below its flat line. The retreat coincided with weakness among European indices and took place in reaction to headlines indicating Ukrainian troops have destroyed a part of an armed convoy from Russia. The report was attributed to the spokesman of Ukraine's National Security and Defense Council.

The news has boosted Treasuries while also strengthening demand for German Bunds. The U.S. 10-yr note is now on its high with the benchmark yield down eight basis points at 2.32%, while Germany's 10-yr yield is down six basis points at 0.96%.

Elsewhere, a flight to safety in the foreign exchange market has the dollar/yen pair trading at a new session low of 102.35 after marking a high in the 102.75 area.

Also of note, participants have shown increased demand for volatility protection, sending the CBOE Volatility Index (VIX 14.00, +1.58) above yesterday's session high.

10:30 am: [BRIEFING.COM]

Natural gas, gold and silver futures all sold off notably this morning
Natural gas futures sold off this morning following yesterday's gains of 2.1% (Sept nat gas closed @ $3.90/MMBtu).
Today, Sept nat gas is currently down 3.4% at $3.77/MMBtu
Precious metals sold off notably this morning as geopolitical tensions ease
Dec gold is now -1.6% at $1294.40/oz, while Sept silver is -1.9% at $19.53/oz
Copper is +0.2% at $3.10/lb and remains at a 2-month low
West Texas Intermediate crude oil is back above the $96 level, now at +0.6% at $96.12/barrel

9:55 am: [BRIEFING.COM] The S&P 500 (+0.3%) remains near its opening high, while the Nasdaq Composite (+0.5%) continues showing relative strength.

Just released, the preliminary reading for the University of Michigan Consumer Sentiment survey for August fell to 79.2 from the reading of 81.8 that was reported in July. The Briefing.com consensus expected the index to slip to 81.7.

9:35 am: [BRIEFING.COM] As expected, equity indices climbed out of the gate with the Russell 2000 (+0.5%) and Nasdaq Composite (+0.5%) in the lead. For its part, the S&P 500 is higher by 0.4% with nine sectors showing gains.

Similar to the previous two sessions, biotechnology has charged out of the gate with the iShares Nasdaq Biotechnology ETF (IBB 263.73, +2.53) up 1.0%. This has given a boost to the health care sector (+0.6%), which is among the early leaders. Meanwhile, another countercyclical sector-consumer staples (+0.7%)-sits in the lead.

On the flip side, the telecom services sector (-0.2%) is the lone decliner in the early going.

Treasuries hover near their highs with the benchmark 10-yr yield down one basis point at 2.39%.

9:17 am: [BRIEFING.COM] S&P futures vs fair value: +6.30. Nasdaq futures vs fair value: +16.00. The stock market is on track to register opening gains as futures on the S&P 500 trade six points above fair value. After spending the night near their flat lines, futures climbed to highs once European markets opened for action. Although markets in Europe hold solid gains, it is worth noting that trading volume has been light with many participants away for Assumption Day.

Domestically, investors have received a fair dose of economic data including the PPI report for July (0.1%; Briefing.com consensus 0.2%) and the just-released Industrial Production report for July.

Industrial production increased 0.4%, which was above the 0.3% increase expected by the Briefing.com consensus. Industrial production for June was revised higher to show an increase of 0.4% versus an originally reported increase of 0.2%. Separately, capacity utilization hit 79.2%, which matched the Briefing.com consensus estimate.

One more data point awaits after the bell with the preliminary reading of the Michigan Sentiment survey for August set to be released at 9:55 ET.

On the earnings front, J.C. Penney (JCP 9.98, +0.24) is indicated to open higher by 2.5% after beating bottom-line estimates and Nordstrom (JWN 66.25, -2.44) holds a pre-market loss of 3.6% in reaction to its in-line report.

Treasuries hold modest gains with the 10-yr yield down one basis point at 2.39%.

9:00 am: [BRIEFING.COM] S&P futures vs fair value: +4.60. Nasdaq futures vs fair value: +13.00. The June net long-term TIC flows report showed an $18.70 billion outflow of foreign capital from U.S.-denominated assets to follow last month's inflow of $19.40 billion.

8:58 am: [BRIEFING.COM] S&P futures vs fair value: +5.50. Nasdaq futures vs fair value: +14.70. The S&P 500 futures trade six points above fair value.

Markets in Asia finished the week on an upbeat note amid light volume. Stimulus chatter continued in China following lower than expected loan data for July. Press reports discussed potential selective interest rate cuts before the end of the year, but the official reserve requirement ratio is not expected to be changed.

Economic data was limited:
Hong Kong's GDP contracted 0.1% quarter-over-quarter (expected 0.9%; previous 0.3%), while the year-over-year reading increased 1.8% (consensus 1.9%; prior 2.6%)
Singapore's Retail Sales fell 1.1% month-over-month (expected -2.3%; prior 5.2%), while the year-over-year reading ticked up 0.4% (consensus 2.2%; previous -5.9%)

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Japan's Nikkei settled right above its flat line after spending the session in a narrow range. Sony and Yamaha outperformed with gains close to 2.0% apiece, while Mitsubishi Materials lost 1.7%.
Hong Kong's Hang Seng added 0.6%, ending near its best level of the session with support from large cap names. Lenovo Group and HSBC Holding gained 2.7% and 1.3%, respectively. China Mobile climbed 5.8% following its earnings beat.
China's Shanghai Composite rose 0.9%, climbing throughout the session. China National Software and Daheng New Epoch Technology both gained 10.0%.

Major European indices hold solid gains, but trading volume has been on the light side with some participants away for Assumption Day. Italy's MIB is closed altogether. Russian President Vladimir Putin made an appearance in Crimea, calling for a peaceful resolution to the crisis in Ukraine. Separately, eyewitness reports had Russian armored personnel carriers crossing the border into Ukraine.

Economic data was limited:
Great Britain's preliminary Q2 GDP rose 0.8% quarter-over-quarter, as expected, while the year-over-year reading increased 3.2% (consensus 3.1%; prior 3.1%). Separately, Index of Services increased 1.0%, as expected

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Great Britain's FTSE is higher by 0.7% with miners in the lead. BHP Billiton and Rio Tinto hold respective gains of 2.4% and 1.5% after BHP Billiton announced plans to spin off its aluminum, manganese, and nickel assets.
Germany's DAX trades up 0.8% with utilities setting the pace. E.ON has added 1.5% and RWE is higher by 2.8%. Adidas is the weakest performer, down 0.7%.
In France, the CAC is higher by 1.0% amid broad strength. Utility stocks are also in the lead with Electricite de France and GDF Suez up 3.5% and 1.5%, respectively. On the downside, industrial name Alstom holds a loss of 0.3%.

8:32 am: [BRIEFING.COM] S&P futures vs fair value: +6.00. Nasdaq futures vs fair value: +15.00. The S&P 500 futures trade six points above fair value.

July producer prices rose 0.1% while the Briefing.com consensus expected an uptick of 0.2%. Core producer prices increased 0.2%, which matched the consensus estimate.

The Empire Manufacturing Survey for August registered a reading of 14.7, which was below the prior month's reading of 25.6. It was also behind the Briefing.com consensus estimate, which was pegged at 15.5.

7:55 am: [BRIEFING.COM] S&P futures vs fair value: +5.60. Nasdaq futures vs fair value: +14.20. U.S. equity futures hold modest gains amid upbeat action overseas. The S&P 500 futures trade six points above fair value, suggesting the benchmark index will build on its solid week-to-date gain of 1.2%. The S&P 500 ended yesterday's session fewer than two points below its 50-day moving average (1956.77), which is likely to be in focus today.

Pre-market action has been free of market-moving earnings, but participants will receive a full batch of economic data today. The PPI report for July (Briefing.com consensus 0.2%) and the Empire Manufacturing survey for August (consensus 15.5) will be released at 8:30 ET, while the Net Long-Term TIC Flows report will cross the wires at 9:00 ET. July Industrial Production (consensus 0.3%) and Capacity Utilization (expected 79.2%) will be announced at 9:15 ET, while the preliminary reading of the Michigan Sentiment survey for August (consensus 81.7) will be reported at 9:55 ET.

Treasuries hold slim gains with the 10-yr yield at 2.40%.

In U.S. corporate news of note:

Applied Materials (AMAT 21.80, +0.65): +3.1% after reporting a one-cent beat.
Autodesk (ADSK 58.70, +2.42): +4.3% following its better than expected results and mixed guidance.
J.C. Penney (JCP 9.97, +0.23): +2.4% after beating bottom-line estimates.
Nordstrom (JWN 67.50, -1.19): -1.7% in reaction to its in-line report.
Weibo (WB 20.65, -0.81): -3.8% despite its beat on revenue and better than expected Q3 revenue guidance.

Reviewing overnight developments:

Asian markets ended higher. China's Shanghai Composite +0.9%, Hong Kong's Hang Seng +0.6%, and Japan's Nikkei settled just above its flat line
In economic data:
Hong Kong's GDP contracted 0.1% quarter-over-quarter (expected 0.9%; previous 0.3%), while the year-over-year reading increased 1.8% (consensus 1.9%; prior 2.6%)
Singapore's Retail Sales fell 1.1% month-over-month (expected -2.3%; prior 5.2%), while the year-over-year reading ticked up 0.4% (consensus 2.2%; previous -5.9%)
In news:
Stimulus chatter continued in China following lower than expected loan data for July. Press reports discussed potential selective interest rate cuts before the end of the year, but the official reserve requirement ratio is not expected to be changed

Major European indices hold solid gains. Great Britain's FTSE +0.6%, Germany's DAX +0.9%, and France's CAC +0.9%. Elsewhere, Spain's IBEX +0.8% and Italy's MIB is closed for Assumption Day
Economic data was limited:
Great Britain's preliminary Q2 GDP rose 0.8% quarter-over-quarter, as expected, while the year-over-year reading increased 3.2% (consensus 3.1%; prior 3.1%). Separately, Index of Services increased 1.0%, as expected
Among news of note:
Russian President Vladimir Putin made an appearance in Crimea, calling for a peaceful resolution to the crisis in Ukraine. Separately, eyewitness reports had Russian armored personnel carriers crossing the border into Ukraine.

7:02 am: [BRIEFING.COM] S&P futures vs fair value: +6.00. Nasdaq futures vs fair value: +16.00.

7:02 am: [BRIEFING.COM] Nikkei...15318.34...+3.80...0.00. Hang Seng...24954.94...+153.60...+0.60%.

7:02 am: [BRIEFING.COM] FTSE...6792.33...+44.10...+0.70%. DAX...9314.96...+89.90...+1.00%.

Stocks Erase Losses as Ukraine Conflict Boosts Oil Prices

By Joseph Ciolli Aug 15, 2014 5:03 PM ET

U.S. stocks erased losses as increasing violence in Ukraine sent oil prices to the biggest increase in a month and spurred a rally in energy producers.

Anadarko Petroleum Corp., Cimarex Energy Co. and Kinder Morgan Inc. led a measure of oil and natural gas producers in the Standard & Poor’s 500 Index to a 0.5 percent advance, the most among 10 main industries. Nordstrom Inc. sank 5.2 percent after reporting sales that missed analysts’ estimates. Monster Beverage Corp. soared 30 percent after Coca-Cola Co. agreed to buy a stake in the company.

The S&P 500 (SPX) pared declines in the late afternoon, ending the day little changed at 1,955.06 as 4 p.m. in New York. It earlier fell as much as 0.7 percent. The Dow Jones Industrial Average slid 50.67 points, or 0.3 percent, to 16,662.91. About 6 billion shares changed hands on U.S. exchanges today, 5.7 percent above the three-month average.

“Investors are trying to weed through what exactly is going on in Ukraine, and the market is drifting back,” Stephen Carl, principal and head equity trader at New York-based Williams Capital Group LP, said in a phone interview. “We have a geopolitical situation that needs to be addressed, and that’s overshadowing everything else in the market.”
Photographer: Jin Lee/Bloomberg

Traders work on the floor of the New York Stock Exchange (NYSE) in New York, on Aug. 11, 2014.

Ukrainian government troops attacked an armed convoy that had crossed the border from Russian territory, Andriy Lysenko, a spokesman for the country’s military, told reporters in Kiev. Ukrainian soldiers continue to come under shelling, including rounds fired from Russia, he said.

Aid Convoy

The Russian Foreign Ministry said in a statement that Ukraine is attempting to disrupt an aid convoy, and called for a cease-fire to allow delivery of supplies. The government in Kiev has for months said that separatist rebels in its easternmost regions are receiving support from Russia, which backs them with artillery fire. Russia has repeatedly denied any involvement in the Ukrainian unrest.

The turmoil pushed energy prices higher, with West Texas Intermediate crude rising 1.9 percent to $97.35 a barrel. Kinder Morgan Inc. rallied 3.9 percent, bringing gains for the week to 15 percent after Houston billionaire Richard Kinder made a move to consolidate his pipeline empire. Cimarex and Anadarko climbed more than 2 percent.

The Chicago Board Options Exchange Volatility Index (VIX), which usually moves in the opposite direction to the S&P 500, jumped 5.9 percent to 13.15, halting five days of declines. The gauge lost 17 percent for the week.

Weekly Move

The S&P 500 rose 1.2 percent this week as signs of a slowing economy stoked bets central banks will leave interest rates near record lows for longer, overshadowing escalating tensions in Ukraine.

Economic data today showed industrial production advanced 0.4 percent in July, while the New York Fed Empire Manufacturing gauge fell more than estimated and consumer confidence unexpectedly declined to its lowest level of the year.

Nineteen S&P 500 companies, including Home Depot Inc. and Hewlett Packard Co., are scheduled to release earnings next week. About 76 percent of those that have reported so far this season have beaten analyst estimates for earnings, while 65 percent have exceeded sales projections, data compiled by Bloomberg show.

Nordstrom slid 5.2 percent to $65.11, the lowest since May. The largest U.S. luxury department-store chain reported same-store sales that missed estimates in the most recent quarter.

Monster Beverage

Monster Beverage soared 30 percent to a record $93.49. Coca-Cola agreed to swap some brands and buy a 17 percent stake in the company for about $2.15 billion, increasing its exposure to the growing energy-drink market. Coca-Cola added 1.7 percent to $40.88 for the biggest gain in the Dow.

Applied Materials Inc. jumped 6.3 percent to $22.48 after forecasting sales that may top analysts’ estimates. The largest maker of semiconductor-manufacturing equipment forecast fiscal fourth-quarter sales that may top estimates as it steals orders from rivals demand rises for machines that make displays.

Vringo Inc. plummeted 72 percent to 88 cents. The patent licensing firm, which reported $1.1 million in revenue last year, fell after Google Inc. won its bid to overturn a $30.5 million patent-infringement verdict. The U.S. Court of Appeals for the Federal Circuit in Washington determined that the Vringo patents in the case were invalid, according to an opinion on the court’s website.

To contact the reporter on this story: Joseph Ciolli in New York at jciolli@bloomberg.net

To contact the editors responsible for this story: Lynn Thomasson at lthomasson@bloomberg.net

More Bloomberg Key Market News

http://www.bloomberg.com/news/2014-08-1 ... rices.html

http://www.bloomberg.com/news/2014-08-1 ... ssive.html

http://www.bloomberg.com/news/2014-08-1 ... igher.html

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

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