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 @ $900.00 dollars or +9.00 points, Emini ES ($ES_F) futures @ $250.00 dollars or +5.00 points, Light Crude Oil CL ($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 @ $1,150.00 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

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=1861


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

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

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





4:10 pm: [BRIEFING.COM] The major averages 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 yesterday. For its part, the Dow Jones Industrial Average (-0.1%) ended with a slim loss.

Equity indices 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. Meanwhile, most large cap tech components underperformed, while Apple (AAPL 95.97, -0.02), IBM (IBM 187.34, -0.13), and Microsoft (MSFT 43.52, +0.32) bucked the trend.

Similar to technology, the energy sector (-0.7%) also kept the market from staging a sustained rebound. The growth-sensitive sector finished near its session low, while crude oil fell 0.7% to $97.35/bbl.

Elsewhere, another influential sector-health care-was able to end just ahead of the broader market even as biotechnology weighed. The iShares Nasdaq Biotechnology ETF (IBB 251.66, -1.55) lost 0.6% and surrendered yesterday's gain.

Like health care, other countercyclical sectors finished near their flat lines. Consumer staples (-0.1%) and utilities (-0.1%) logged modest losses, while the weakest sector of the month-telecom services-added 0.5% to narrow its August decline to 2.5%.

Even though equities endured a sloppy session, participants did not rush in search of volatility protection. In fact, the CBOE Volatility Index (VIX 14.14, -0.09) finished in the red. The modest losses did not translate into higher demand for Treasuries either as the 10-yr note settled on its low with the benchmark yield up two basis points at 2.45%.

Participation was below average with 531 million shares changing hands at the NYSE floor.

Economic data was limited to the Job Opening and Labor Turnover Survey for June and the Treasury Budget for July:
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The Job Openings and Labor Turnover Survey for June indicated job opening increased to 4.671 million from 4.577 million
The Treasury Budget for July showed a deficit of $94.60 billion, which followed the prior deficit of $97.60 billion, while the Briefing.com consensus expected the deficit to hit $96.00 billion

Tomorrow, the weekly MBA Mortgage Index will be released at 7:00 ET, while the Retail Sales report for July (Briefing.com consensus 0.3%) will cross the wires at 8:30 ET. Separately, the Business Inventories report for June (consensus 0.4%) will be released at 10:00 ET.

Nasdaq Composite +5.1% YTD
S&P 500 +4.6% YTD
Dow Jones Industrial Average -0.1% YTD
Russell 2000 -2.6% YTD

3:30 pm: [BRIEFING.COM]

Dec gold rose to a session high of $1319.30 per ounce in mid-morning floor trade on further Ukraine/Russia tension. The European and German ZEW surveys both came in well below expectations as the Ukrainian conflict continues to weigh on sentiment while sanctions cripple businesses.
However, the yellow metal reversed towards the unchanged line in afternoon action and settled the session just 10 cents higher at $1310.70 per ounce.
Sep silver slipped into negative territory after retreating from a session high of $20.16 per ounce set in early morning action. It touched a session low of $19.88 per ounce moments before settling with a 0.8% loss at $19.91 per ounce.
Sep crude oil traded lower today as the IEA lowered its estimates for global demand growth by 180K barrels a day to 1 mln barrels a day in 2014 and said that supplies were abundant despite geopolitical tensions. The energy component fell as low as $96.79 per barrel and eventually settled with a 0.7% loss at $97.35 per barrel.
Sep natural gas touched a session high of $4.01 per MMBtu in morning action but pulled back towards the unchanged line heading into the close. Unable to regain momentum, it settled flat at $3.97 per MMBtu.

2:55 pm: [BRIEFING.COM] The S&P 500 trades lower by 0.3% with one hour remaining in the session. The benchmark index made a brief appearance in the green during the opening hour of action, but could never get it together as the top-weighted sector-technology-and high-beta groups like biotechnology and chipmakers weighed.

Despite the weakness among equities, participants have not shown strong demand for Treasuries. In fact, the 10-yr note registered its high just ahead of the cash open and has been inching lower since then. The benchmark instrument enters the last hour on its low (-4/32) with its yield up one basis point at 2.44%.

2:25 pm: [BRIEFING.COM] The S&P 500 (-0.3%) has returned to its session low that was established shortly after 11:00 ET. Fittingly, the two weakest sectors of the day-energy (-1.0%) and technology (-0.5%)-have also returned to their worst levels of the session.

Also of note, the consumer discretionary sector kept pace with the broader market during the first half of the session, but the cyclical group now trades lower by 0.4%. Homebuilders display notable losses with DR Horton (DHI 20.29, -0.38) down 1.8%, while the broader iShares Dow Jones US Home Construction ETF (ITB 22.54, -0.22) sports a loss of 1.1%.

On the upside, the telecom services sector (+0.3%) continues holding a modest gain, while the utilities sector has returned to its flat line.

2:00 pm: [BRIEFING.COM] Equities remain near their recent levels with the S&P 500 trading less than five points below its flat line.

Just released, the Treasury Budget for July showed a deficit of $94.60 billion, which followed the prior deficit of $97.60 billion. The Briefing.com consensus expected the deficit to hit $96.00 billion.

1:30 pm: [BRIEFING.COM] The S&P 500 (-0.1%) continues trading near its flat line.

The U.S. Treasury recently conducted a $27 billion 3-yr note auction, which drew a yield of 0.924%. Demand was a bit light with the bid/cover ratio of 3.03 coming in below the 12-auction average of 3.34. Indirect bidders took 36.2% of the issue, which was above the 12-auction average of 33.4%. Direct bids, meanwhile, were in-line at 19.0%, which left primary dealers with 44.8% of the supply.

For its part, the benchmark 10-yr note remains near its low with the 10-yr yield up one basis point at 2.44%.

12:55 pm: [BRIEFING.COM] The major averages hold modestly midday losses with small caps leading the retreat. The Russell 2000 is lower by 0.5%, while the S&P 500 trades down 0.1% with six sectors showing losses.

The first half of the Tuesday session has been pretty sloppy with equity indices unable to follow the early lead from influential sectors like financials (+0.1%), consumer discretionary (-0.1%), and industrials (-0.1%). Meanwhile, the top-weighted S&P 500 sector-technology (-0.3%)-has lagged since the early going and its continued underperformance has invited additional selling. High-beta chipmakers have contributed to the sector's underperformance as the PHLX Semiconductor Index trades down 0.4%. Similarly, most large cap components also hover in the red, while Apple (AAPL 96.11, +0.12) and Microsoft (MSFT 43.34, +0.14) outperform.

Outside of technology, the energy sector (-0.7%) has also played a part in the retreat. Dow components Chevron (CVX 126.59, -1.12) and ExxonMobil (XOM 98.16, -0.57) are both down near 0.7%, while crude oil holds a loss of 0.8% at $97.35/bbl.

On the upside, financials (+0.2%) and materials (+0.2%) are the only two advancers among cyclical sectors.

Despite the early weakness, dip-buyers have been active in recent action and have helped the key indices climb off their lows.

Also of note, Treasuries have slid to new lows after holding their ground during the early retreat. The 10-yr note is lower by three ticks with its yield up one basis point at 2.44%.

Economic data was limited to the Job Opening and Labor Turnover Survey for June, while the Treasury Budget for July will cross the wires at 14:00 ET (Briefing.com consensus -$96.00 billion):

The Job Openings and Labor Turnover Survey for June indicated job opening increased to 4.671 million from 4.577 million

12:25 pm: [BRIEFING.COM] Equity indices remain near their lows with the S&P 500 (-0.2%) trading a bit ahead of the Russell 2000 (-0.5%).

Given its current level, the S&P 500 is back to unchanged for the week after surrendering yesterday's advance. Meanwhile, the Russell 2000 lags today, but remains higher by 0.4% for the week. Yesterday, the small-cap index made a brief appearance above its 100- and 200-day moving averages, but could not finish the day above either level.

Elsewhere, the tech-heavy Nasdaq Composite (-0.4%) sits right on its 50-day moving average.

12:00 pm: [BRIEFING.COM] The S&P 500 trades lower by 0.3%, while the Russell 2000 (-0.5%) underperforms. The relative weakness among small cap stocks has persisted since the start of the session with biotechnology and chipmakers pressuring their respective sectors.

The iShares Nasdaq Biotechnology ETF (IBB 252.15, -1.06) is lower by 0.4%, while the health care sector (-0.2%) trades in line with the broader market. Elsewhere, the PHLX Semiconductor Index trades down 0.7%, while the technology sector (-0.4%) continues weighing on the broader market.

On the upside, the financial sector (+0.1%) is the lone advancer among cyclical sectors, while the telecom services space (+0.3%) leads the four countercyclical groups.

11:30 am: [BRIEFING.COM] Recent action saw the major averages slip to new lows for the day. The S&P 500 now trades lower by 0.3% with eight sectors in the red. It is worth mentioning, that the market has followed in the footsteps of the technology sector (-0.5%), which has suffered from broad pressure.

Understandably, the relative weakness of the top-weighted sector has invited participants to take some money off the table. That being said, investors have not rushed for the exits as evidenced by just a modest uptick in the CBOE Volatility Index (VIX 14.34, +0.11).

Finally, Treasuries continue holding narrow ranges with the 10-yr yield at 2.43%.

11:00 am: [BRIEFING.COM] The S&P 500 has returned to its flat line with a handful of sectors that displayed relative strength earlier now trailing the broader market.

Most notably, the top-weighted sector-technology (-0.3%)-has surrendered its early gain amid broad weakness. High-beta chipmakers lag notably with the PHLX Semiconductor index lower by 0.6%. Similarly, most large cap components hover in the red, while Apple (AAPL 96.38, +0.39) and Microsoft (MSFT 43.34, +0.14) outperform. The two stocks hold respective gains of 0.4% and 0.3%.

Elsewhere among influential sectors, the consumer discretionary space (-0.1%) trades in line with the market, while the financial sector continues holding a slim gain of 0.1%.

Also of note, Treasuries remain unchanged after reclaiming their recent losses. The 10-yr yield sits at 2.43% at this time, and has held between 2.42% and 2.44% so far today.

10:35 am: [BRIEFING.COM]

The dollar index is trading higher this morning, which is only helping weigh on select commodities
Corn prices are lower ahead of today's monthly USDA WASDE report, which will be released at noon EST. The Sept contract is -1.4% at $3.52/bushel
Crude oil has been in the red all day so far and fell as low as $97.06/barrel (Sept contract). Sept crude is now -0.7% at $97.40/barrel
Sept nat gas rebounded off its LoD and is now +0.9% at $4.00/MMBtu
Gold has been slowly climbing higher all morning. Dec gold is currently +0.6% at $1318.60/oz, while Sept silver is flat at $20.10/oz
Sept copper is -0.5% at $3.16/lb

10:00 am: [BRIEFING.COM] The S&P 500 continues trading just north of its flat line. Heavily-weighted consumer discretionary (+0.2%), financials (+0.3%), and industrials (+0.3%) remain in the lead, while the technology sector has returned to its flat line.

Just released, the Job Openings and Labor Turnover Survey for June indicated job opening increased to 4.671 million from 4.577 million.

9:45 am: [BRIEFING.COM] Equity indices began the session with modest losses, but they have already returned to their flat lines. The S&P 500 hovers just above its unchanged level with seven sectors showing gains.

Heavily-weighted consumer discretionary (+0.2%), financials (+0.2%), and technology (+0.2%) are among the early leaders, while another cyclical sector--energy (-0.3%)-lags. Crude oil, meanwhile, holds a loss of 0.9% at $97.21/bbl. Also of note, the remaining decliners-health care (-0.1%) and consumer staples (-0.1%)-hover just below their flat lines.

On the fixed income side, Treasuries notched their highs just ahead of the opening bell before returning to their flat lines. The 10-yr yield sits at 2.43%.

9:09 am: [BRIEFING.COM] S&P futures vs fair value: -3.00. Nasdaq futures vs fair value: -8.30. The stock market is on track for a lower start as futures on the S&P 500 trade three points below fair value. Index futures held modest gains through the night, but began slipping from highs shortly after the start of the European session, reaching their pre-market lows during the past few minutes.

In Europe, markets in Italy (+0.6%) and Spain (+0.5%) display relative strength, while France's CAC and Germany's DAX are both down near 0.7% with disappointing data contributing to the weakness. Specifically, Eurozone ZEW Economic Sentiment plunged to 23.7 from 48.1 (expected 41.3) and Germany's ZEW Economic Sentiment dropped to 8.6 from 27.1 (consensus 18.2).

The cautious posture has given a boost to the Japanese yen, sending the dollar/yen pair into the 102.15 area.

Elsewhere, Treasuries hold modest gains with the 10-yr yield down almost a basis point at 2.42%.

There was no economic data reported this morning, but the June Job Openings and Labor Turnover Survey will be released at 10:00 ET, while the Treasury Budget for July will cross the wires at 14:00 ET (Briefing.com consensus -$96.00 billion).

8:56 am: [BRIEFING.COM] S&P futures vs fair value: +1.40. Nasdaq futures vs fair value: flat. The S&P 500 futures trade one point above fair value.

Markets in Asia ended on a higher note, but indices in China (-0.1%) and Japan (+0.2%) were little changed with participants gearing up for noteworthy economic data expected later in the week. Japan's advance Q2 GDP report is scheduled to be released this evening with the market calling for a 7.1% year-over-year contraction due to the effects of the April sales tax hike taking hold

In economic data:
Japan's Corporate Goods Price Index rose 0.3% month-over-month (expected 0.4%; previous 0.2%), while Industrial Production fell 3.4% month-over-month (consensus -3.3%; prior -3.3%). Also of note, capacity utilization declined 3.3% month-over-month (previous -0.7%)
Australia's House Price Index rose 1.8% quarter-over-quarter (expected 1.1%; previous 1.5%), while NAB Business Confidence rose to 11 from 8 and NAB Business Survey jumped to 8 from 2
Singapore's GDP ticked up 0.1% quarter-over-quarter (expected -0.1%, previous -0.8%), while the year-over-year reading increased 2.4%, as expected

------

Japan's Nikkei added 0.2%, ending at a one-week high. Shippers were among the top performers as Mitsui OSK and Nippon Yusen both added 1.1%.
Hong Kong's Hang Seng rose 0.2%, but just missed its best close of 2014. Heavyweight Tencent Holdings tacked on 0.8% ahead of tomorrow's earnings report.
China's Shanghai Composite shed 0.1%, holding at eight-month highs. Property stocks saw modest selling pressure with China Vanke easing 0.5%.

Major European indices trade in mixed fashion with Germany's DAX (-0.6%) showing the largest loss. Disappointing economic data has weighed on the markets with Eurozone ZEW Economic Sentiment plunging to 23.7 from 48.1 (expected 41.3) and Germany's ZEW Economic Sentiment tumbling to 8.6 from 27.1 (consensus 18.2). On a separate note, the confusion surrounding Russian humanitarian aid being sent into Ukraine has continued with recent reports indicating Ukraine will delay the convoy until determining where the aid should be sent.

In other economic data:
French Current Account deficit widened to EUR7.40 billion from EUR3.30 billion (expected deficit of EUR3.20 billion)
Great Britain's BRC Retail Sales Monitor slipped 0.3% year-over-year (expected 0.6%; previous -0.8%)
Italy's CPI slipped 0.1% month-over-month, while the year-over-year reading ticked up 0.1%. Both figures matched expectations

------

Great Britain's FTSE is lower by 0.1% with staple stocks on the defensive. Tesco and WM Morrison Supermarkets are both down near 1.2%. Insurers outperform with Prudential and RSA Insurance Group higher by 1.8% and 0.6%, respectively.
In France, the CAC holds a loss of 0.6%. Energy company Total is the weakest performer, down 1.9%. Financials have held up relatively well with BNP Paribas and Credit Agricole up 0.2% and 0.6%, respectively.
Germany's DAX holds a loss of 0.6%. Henkel underperforms with a loss of 6.2% after reporting disappointing earnings and warning about the impact of the Ukraine crisis on its company. Commerzbank outperforms with a gain of 2.8%.
Italy's MIB is higher by 0.8% thanks to strength in bank shares. BMPS, Mediobanca, and UBI Banca are up between 1.6% and 4.4%.

8:32 am: [BRIEFING.COM] S&P futures vs fair value: flat. Nasdaq futures vs fair value: -3.50. U.S. equity futures remain just above their lows that were established during the past 30 minutes. As mentioned earlier, the slide from highs took place as markets in Europe fell to new lows for the day. To be sure, European equities have been pressured from the get-go with disappointing data from Eurozone and Germany weighing on sentiment. The Eurozone ZEW Economic Sentiment fell to 23.7 from 48.1, while Germany's ZEW Sentiment tumbled to 8.6 from 27.1.

Furthermore, the defensive posture has also been visible in the foreign exchange market where the Japanese yen recently surged to a new session high. As a result of the move, the dollar/yen pair now trades near 102.15 after notching a high at 102.35 roughly two hours ago.

Elsewhere, Treasuries have climbed to their best levels of the morning, lowering the benchmark 10-yr yield to 2.42%.

8:00 am: [BRIEFING.COM] S&P futures vs fair value: flat. Nasdaq futures vs fair value: -4.80. U.S. equity futures are little changed amid cautious action overseas. The S&P 500 futures trade in line with fair value after surrendering their modest gains over the past two hours. The recent retreat coincided with weakness in Europe as the major indices there dropped to session lows. Domestically, investors have received several quarterly reports since yesterday's closing bell, but the reaction to the results has been isolated to individual stocks. On the economic front, there is no data scheduled to be reported in pre-market action, but the June Job Openings and Labor Turnover Survey will be released at 10:00 ET, while the Treasury Budget for July will cross the wires at 14:00 ET (Briefing.com consensus -$96.00 billion).

Treasuries are little changed with the 10-yr yield at 2.42%.

In notable U.S. corporate news:

Apple (AAPL 96.33, +0.34): +0.4% after Bloomberg reported that company's suppliers have begun working on new iPad devices.
Dean Foods (DF 15.30, +0.10): +0.7% after being upgraded to Outperform from Neutral at Credit Suisse.
IBM (IBM 189.00, +1.53): +0.8% after announcing the acquisition of Lighthouse Security Group. Terms of the deal were not disclosed.
Nuance Communications (NUAN 16.17, -1.93): -10.7% after reporting in-line earnings on below-consensus revenue.

Reviewing overnight developments:

Asian markets ended little changed. China's Shanghai Composite -0.1%, Hong Kong's Hang Seng +0.2%, and Japan's Nikkei +0.2%
In economic data:
Japan's Corporate Goods Price Index rose 0.3% month-over-month (expected 0.4%; previous 0.2%), while Industrial Production fell 3.4% month-over-month (consensus -3.3%; prior -3.3%). Also of note, capacity utilization declined 3.3% month-over-month (previous -0.7%)
Australia's House Price Index rose 1.8% quarter-over-quarter (expected 1.1%; previous 1.5%), while NAB Business Confidence rose to 11 from 8 and NAB Business Survey jumped to 8 from 2
Singapore's GDP ticked up 0.1% quarter-over-quarter (expected -0.1%, previous -0.8%), while the year-over-year reading increased 2.4%, as expected
In news:
Markets in China and Japan maintained narrow ranges ahead of noteworthy data that lies ahead. Japan's advance Q2 GDP report is scheduled to be released this evening with the market calling for a 7.1% year-over-year contraction due to the effects of the April sales tax hike taking hold

Major European indices trade in mixed fashion. France's CAC -0.7%, Germany's DAX -0.8%, and Great Britain's FTSE -0.2%. Elsewhere, Italy's MIB +0.6% and Spain's IBEX +0.5%
Participants received several data points:
Eurozone ZEW Economic Sentiment plunged to 23.7 from 48.1 (expected 41.3)
Germany's ZEW Economic Sentiment tumbled to 8.6 from 27.1 (consensus 18.2), while the Current Conditions component fell to 44.3 from 61.8 (expected 55.5)
French Current Account deficit widened to EUR7.40 billion from EUR3.30 billion (expected deficit of EUR3.20 billion)
Great Britain's BRC Retail Sales Monitor slipped 0.3% year-over-year (expected 0.6%; previous -0.8%)
Italy's CPI slipped 0.1% month-over-month, while the year-over-year reading ticked up 0.1%. Both figures matched expectations
Among news of note:
The confusion surrounding Russian humanitarian aid being sent into Ukraine has continued with recent reports indicating Ukraine will delay the convoy until determining where the aid should be sent.

7:00 am: [BRIEFING.COM] S&P futures vs fair value: +3.00. Nasdaq futures vs fair value: +5.00.

7:00 am: [BRIEFING.COM] Nikkei...15161.31...+30.80...+0.20%. Hang Seng...24689.41...+43.40...+0.20%.

7:00 am: [BRIEFING.COM] FTSE...6627.54...-5.30...-0.10%. DAX...9143.12...-40.30...-0.40%.

Bloomberg

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

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

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