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October 20th Tuesday Trade Results - Profit $3162.50
http://thestrategylab.com/tsl/forum/viewtopic.php?f=274&t=2928
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Author:  wrbtrader [ Wed Oct 21, 2015 4:34 am ]
Post subject:  October 20th Tuesday Trade Results - Profit $3162.50

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

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

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $0.00 dollars or +0.00 points, Emini ES ($ES_F) futures @ $3162.50 dollars or +63.25 points, Light Crude Oil CL ($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 @ $3162.50 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

Trade Log: All of my trades were posted real-time in the timestamp ##TheStrategyLab free chat room. You can read today's price action trading information about my trades (e.g. time, price entry, contract size, price exit) as the trade traversed to its completion. Also, sometimes I'll post real-time trading tips in ##TheStrategyLab chat room involving WRBs, WRB Hidden GAPs, Key Market Events (KME), Tutorial Chapters 2 & 3, WRB Zones, Reaction Highs/Lows, Contracting Volatility or Expanding Volatility. Its all archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=148&t=2198

Quote:
All of my real-time posted trades involves price action concepts from the WRB Analysis free study guide, Advance WRB Analysis Tutorial Chapters 4 - 12 and the Volatility Trading Report (VTR) trade signal strategies. Analysis -----> Trade Signals

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.

Image ##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

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

Analysis -----> Trade Signals

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

Image Daily Trading Plan Routine @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=274&t=2910 contains brief information about trading plan, market context, brokers, trading time frames, position size management and other discussions.

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Market Context Summaries

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

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


4:10 pm: [BRIEFING.COM] The stock market finished Tuesday on a quiet note after spending the session inside a narrow trading range. The S&P 500 shed 0.1% while the Nasdaq Composite (-0.5%) underperformed throughout the day.

Just like yesterday, today's affair was very quiet with the S&P 500 spending the majority of the session near its flat line. The benchmark index opened with a modest loss and rallied into the green during morning action, but could not climb above its 100-day moving average (2,039), which served as resistance. The index followed that short-lived rally with a return into the red, where it settled for the day.

Six sectors ended the day with gains, but top-weighted technology (-0.3%) and health care (-1.5%) struggled, which kept the market under pressure. Notably, the technology sector could not overcome the relative weakness in the shares of IBM (IBM 140.68, -8.54) after Big Blue reported below-consensus revenue and lowered its guidance, which overshadowed a bottom-line beat.

Staying in the tech sector, chipmakers also struggled with the PHLX Semiconductor Index shedding 0.2%. Micron (MU 17.09, -2.07) was the weakest performer, sliding 10.8%, after Intel (INTC 33.44, -0.15) announced plans to increase its investment in non-volatile memory technology.

Meanwhile, the health care sector (-1.5%) spent the day behind the remaining groups due to daylong weakness in biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 305.96, -9.98) retreated into the afternoon to settle lower by 3.1%, which contributed to the weakness in the Nasdaq Composite.

On the upside, the telecom services sector (+0.8%) held the lead throughout the session thanks to a 1.2% spike in Verizon (VZ 45.24, +0.54) after the company beat earnings expectations and reaffirmed its full-year revenue growth outlook.

Similar to telecom services, financials (+0.5%) and industrials (+0.6%) ended the day with solid gains. Travelers (TRV 108.95, +2.63) spiked 2.5%, contributing to the relative strength in financials, while United Technologies (UTX 95.70, +3.65) surged 4.0%, underpinning the industrial space. Transport stocks also rallied alongside the sector with the Dow Jones Transportation Average climbing 0.6%.

Treasuries notched their lows during morning action and they remained near those levels until the close with the 10-yr yield rising five basis points to 2.07%.

Just like yesterday, investor participation was a bit below average as fewer than 800 million shares changed hands at the NYSE floor.

Economic data was limited to Housing Starts, which increased 6.5% in September to 1.207 million from an upwardly revised 1.132 million (from 1.126 million) in August while the Briefing.com consensus expected an increase to 1.150 million. That was the second time in 2015 that total new housing starts topped 1.200 million (1.211 million in June) and the first time that the level has been exceeded on two occasions in one year since 2007. New single-family home construction remained robust in September with starts increasing 0.3% to 740,000 from 738,000

Tomorrow's economic data will be limited to the weekly MBA Mortgage Index, which will be released at 7:00 ET.

Nasdaq Composite +3.1% YTD
S&P 500 -1.4% YTD
Dow Jones Industrial Average -3.4% YTD
Russell 2000 -3.5% YTD

3:40 pm: [BRIEFING.COM]

WTI oil prices recovered back above $46/barrel following the earlier sell-off
By the end of today's session, Dec crude oil gained $0.04 to close at $46.31/barrel
Nov nat gas held gains and finished +1.6% at $2.48/MMBtu
Silver spiked mid-day and held up decently, closing +0.3% at $15.89/oz Dec gold finished +0.4% at $1177.70/oz
In base metals, Dec copper rose one cent to $2.37/lb

2:55 pm:

[BRIEFING.COM] The S&P 500 trades lower by 0.2% with one hour remaining in the session. The benchmark index slipped below its flat line after 11:30 ET and has held a modest loss since then.

Investors will receive another batch of earnings after today's closing bell with Discover Financial (DFS 54.90, -0.09), Chipotle Mexican Grill (CMG 712.16, -6.48), and Yahoo! (YHOO 33.00, -0.51) headlining the list. Things will be a bit busier tomorrow morning with General Motors (GM 33.58, +0.34), Boeing (BA 139.00, +0.58), Coca-Cola (KO 42.32, +0.34), and Credit Suisse (CS 25.97, +0.21) set to report their results, among others.

Treasuries continue trading just above their lows with the 10-yr yield higher by five basis points at 2.07%.

2:25 pm:

[BRIEFING.COM] Equity indices continue hovering near their lowest levels of the day with the S&P 500 down 0.2%.

Sector standing has not changed much with health care (-1.7%) and technology (-0.5%) remaining at the bottom of the leaderboard, which has prevented a sustained rebound from taking hold. High-beta chipmakers have contributed to the relative weakness in the sector as Micron (MU 17.24, -1.91) trades lower by 10.0% after Intel (INTC 33.46, -0.13) announced plans to increase its investment in non-volatile memory technology. Shares of Intel have surrendered 0.4% while the broader PHLX Semiconductor Index trades down 0.7%.

Elsewhere, Treasuries remain near their lows with the 10-yr yield up four basis points at 2.07%.

2:00 pm:

[BRIEFING.COM] The major averages trade near their lowest levels of the day.

Housing starts easily topped expectations in September.

Housing starts increased 6.5% in September to 1.207 mln from an upwardly revised 1.132 mln (from 1.126 mln) in August. The Briefing.com Consensus expected housing starts to increase to 1.150 mln.

That was the second time in 2015 that total new housing starts topped 1.200 mln (1.211 mln in June), and the first time two months have exceeded that level in one year since 2007.

New single-family home construction remained robust in September. These starts increased 0.3% to 740,000 from 738,000. Over the last three months, new single-family construction has averaged 745,667. That is nearly 100,000 more than the 2014 average.

1:35 pm:

[BRIEFING.COM] The major U.S. indices remain just below break-even levels with the Nasdaq underperforming as health care drags.

A look inside the Dow Jones Industrial Average shows IBM (IBM 140.58, -8.64), Merck & Co. (MRK 50.48, -0.92), and Pfizer (PFE 33.96, -0.54) are underperforming. IBM shares are weighing on the Dow after reporting its Q3 results. The mixed report from IBM surpassed EPS estimates but fell short of revenue expectations, and the company lowered its FY15 shipment and margin guidance. Merck and Pfizer are lower alongside peers in healthcare as biotech weakness weighs on the sector.

Conversely, United Technologies (UTX 96.68, +4.63) is the best performing Dow component after reporting its third quarter earnings. In the report, United Tech beat EPS estimates, missed revenue expectations, but reaffirmed its FY15 outlook and announced a $12 bln buyback.

For the week, the DJIA is down 0.05%, but still up 5.7% for the month.


Related Quotes

12:55 pm:

[BRIEFING.COM] The major averages hover in the red at midday with the Nasdaq Composite (-0.5%) trading behind the S&P 500 (-0.2%).

Equity indices hover near their opening levels after failing to hold a slim late-morning gain. The S&P 500 opened with a two-point loss, but was able to make a brief appearance in the green during late-morning action. However, the index hit resistance in the neighborhood of its 100-day moving average (2,039) around 10:45 ET, returning into negative territory shortly thereafter.

Five sectors display midday gains with the telecom services sector (+0.9%) holding the lead thanks to better than expected earnings from Verizon (VZ 45.49, +0.79). The stock trades higher by 1.8%, but more notably, financials (+0.3%) and industrials (+0.7%) also display relative strength.

The financial sector has received a boost from Travelers (TRV 109.04, +2.72) as the stock trades higher by 2.6% in reaction to better than expected results. Meanwhile, other large sector components like Citigroup (C 52.86, 0.00) and JPMorgan Chase (JPM 62.57, +0.35) trade closer to their flat lines.

For its part, the industrial sector has rallied behind Dow component United Technologies (UTX 97.16, +5.11) as the stock trades up 5.6% after beating earnings estimates on below-consensus revenue. Elsewhere in the sector, Lockheed Martin (LMT 207.64, -3.00) has given up 1.4% despite beating earnings and revenue estimates.

On the downside, heavily-weighted health care (-1.4%) and technology (-0.5%) have kept the market on the defensive. IBM (IBM 140.51, -8.71) has pressured the technology sector after below-consensus revenue and lowered guidance overshadowed a bottom-line beat while biotechnology is responsible for the retreat in health care. The iShares Nasdaq Biotechnology ETF (IBB 306.54, -9.40) is lower by 3.0% at this juncture.

Treasuries retreated during morning action and they have held their ground for the past three hours or so with the 10-yr yield up four basis points at 2.06%.

Economic data was limited to Housing Starts, which increased 6.5% in September to 1.207 million from an upwardly revised 1.132 million (from 1.126 million) in August while the Briefing.com consensus expected an increase to 1.150 million. That was the second time in 2015 that total new housing starts topped 1.200 million (1.211 million in June) and the first time that the level has been exceeded on two occasions in one year since 2007. New single-family home construction remained robust in September with starts increasing 0.3% to 740,000 from 738,000.

12:25 pm:

[BRIEFING.COM] Not much change in the market as the major averages have nestled into narrow ranges. The S&P 500 (-0.1%) holds a two-point loss after spending the past hour in a four-point range.

Yesterday, the market staged a late rally that allowed the S&P 500 to eke out a slim gain, which represented the third consecutive gain for the benchmark index. Today, however, the market rallied off its opening lows, but the S&P 500 has reversed immediately after briefly touching its 100-day moving average (2,039) for the first time since August 18.

Elsewhere, Treasuries sit near their lowest levels of the day with the benchmark 10-yr yield up five basis points at 2.07%.

11:55 am:

[BRIEFING.COM] Equity indices remain near their recent levels with the Dow and S&P 500 anchored to their flat lines while the Nasdaq (-0.3%) underperforms.

Although the market has been able to climb off its opening low, putting together a sustainable rebound has been challenging due to the continued weakness in two of the three largest sectors by weight (health care and technology). Furthermore, the fourth largest sector-consumer discretionary (-0.1%)-also trades in the red.

All in all, the early portion of today's session has been very similar to yesterday's affair with trading volume running below average. To that point, fewer than 300 million shares have changed hands at the NYSE floor so far today.

11:25 am:

[BRIEFING.COM] Recent action saw the S&P 500 surrender a four-point gain, slipping back below its flat line.

Six of ten sectors continue holding gains, but heavily-weighted technology (-0.3%) and health care (-0.8%) remain weak, which has weighed on the broader market. The top-weighted technology sector has been pressured by large cap components with IBM (IBM 141.38, -7.84) and Alphabet (GOOGL 683.22, -16.73) trading lower by 5.3% and 2.4%, respectively.

Meanwhile, the health care sector has retreated alongside the biotech group, evidenced by a 1.6% decline in iShares Nasdaq Biotechnology ETF (IBB 310.02, -5.92). Conversely, biotechnology has contributed to the relative weakness in the Nasdaq Composite (-0.3%).

10:55 am:

[BRIEFING.COM] Equity indices have climbed to new highs with the S&P 500 (+0.3%) trading ahead of the Nasdaq Composite (+0.1%).

Eight sector are now in the green with telecom services (+1.4%), materials (+0.9%), and industrials (+0.9%) in the lead. The telecom services sector has been underpinned by better than expected results from Verizon (VZ 45.78, +1.08) while the industrial sector has rallied behind United Technologies (UTX 96.18, +4.13) after the company beat earnings estimates on below-consensus revenue. To be fair, another industrial component-Lockheed Martin (LMT 207.35, -3.29)-has surrendered 1.6% despite beating earnings and revenue estimates.

On the downside, technology (-0.1%) and health care (-0.4%) remain in the red.

10:35 am: [BRIEFING.COM]

The dollar index trended flat overnight, before seeing a modest sell-off in early trade to lows near the 94.60 level.
Overnight and early trading momentum was characterized by the US Treasury's semi-annual currency report and commentary by SF Fed Reserve Bank President John Williams
Williams, who is a voting member, noted positive US economic development which has been highlighted by risk from international economies.
The index has bounced back from session lows but is still slightly negative at -0.2% to 94.81
WTI trended higher overnight, staying bound by an upper-range level near $46.70/barrel amidst commentary out of Iran and from Ian Taylor (of Vitol), in combination with an oil price forecast cut from the World Bank
Iran stated (among other things) that it planned to increase crude production by ~500K bpd within a week of sanctions being lifted
The World Bank cut its oil-price forecast for 2015 to $52 from $57
December crude is now holding moderate gains at +0.9% to $46.67/barrel
Natural gas has been trading at strong positives all session, now at +1.5% to $2.48/MMBtu, driven by forecasts that are calling for colder near-term US weather patterns
Precious metals are trading on movements in the dollar, and are currently modestly positive for the morning.
Gold is now +0.5% to $1178.40/oz and silver is +0.4% to $15.91/oz
Copper futures are +0.2% to $2.37/lb

9:55 am:

[BRIEFING.COM] The major averages have climbed off their recently-established lows, but they remain in negative territory with the S&P 500 trading lower by 0.1%.

The energy sector began the trading day at the bottom of the leaderboard, but the group has erased its decline and now trades just above its flat line. Meanwhile, the technology sector (-0.5%) remains behind the broader market due to a 5.8% decline in the shares of IBM (IBM 140.58, -8.64).

On the upside, the telecom services sector has extended its gain to 0.7% while materials (+0.3%) and financials (+0.2%) follow.

9:35 am:

[BRIEFING.COM] The stock market began the trading day with a modest loss. The S&P 500 trades lower by 0.1% with eight sectors showing opening losses.

Similar to yesterday, the energy sector (-0.4%) has paced the opening retreat while technology (-0.4%) trades just ahead. On the upside, the telecom services sector (+0.2%) outperforms while financials (+0.1%) also trade in the green.

Elsewhere, Treasuries have slid to new lows, pushing the 10-yr yield up to 2.07% (+5 bps).

9:11 am: [BRIEFING.COM] S&P futures vs fair value: -2.70. Nasdaq futures vs fair value: -1.00.

The stock market is on track for a modestly lower open with S&P 500 futures trading three points below fair value after spending the night in an eight-point range.

The overnight action has not introduced any curveballs into the mix as Asian markets ended the day in mixed fashion while European indices trade mostly lower. All in all, yesterday's quiet tone has carried over into this morning.

Investors have received a fair dose of quarterly reports since yesterday's closing bell with IBM (IBM 142.00, -7.22) on track to open lower by 4.8% after below-consensus revenue and lowered guidance overshadowed a bottom-line beat. Also of note, Verizon (VZ 45.10, +0.40) has climbed 0.9% in pre-market after beating earnings expectations and reaffirming its full-year revenue growth outlook while Yum! Brands (YUM 75.08, +3.37) has spiked 4.7% after announcing plans to split into two separate companies.

On the economic front, September Housing Starts rose to a seasonally adjusted annualized rate of 1,206,000 from a revised 1,132,000 units in August (from 1,126,000) while the Briefing.com consensus expected a decrease to 1,150,000 units.

Treasuries hover near their lows with the 10-yr yield higher by four basis points at 2.07%.

8:55 am: [BRIEFING.COM] S&P futures vs fair value: -1.60. Nasdaq futures vs fair value: -2.50.

The S&P 500 futures trade two points below fair value.

Markets in the Asia-Pacific region were mixed on Tuesday as participants lacked conviction. Reportedly, that lack of conviction was tied to growth concerns surrounding China, but the Chinese media for one spent some time Tuesday highlighting the potential for improved growth prospects in China's economy. Notably, China's Shanghai Composite (+1.1%) outperformed all other major indices in the region, scoring the entirety of its gain in the final 30 minutes of trading.

In economic data:
China's September Foreign Direct Investment +9.0% (prior +9.2%)
South Korea's September PPI -0.3% month-over-month (prior -0.6%); -4.5% year-over-year (prior -4.5%)

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Japan's Nikkei increased 0.4%, recouping nearly half of Monday's losses. The rebound effort was helped along by gains in the communications (+2.0%), technology (+0.6%), and health care (+0.5%) sectors. Individual standouts included Takara Holdings (+6.6%), Nippon Telegraph $ Telephone (+5.2%), and Nippon Soda (+4.9%). Tuesday's biggest laggards were Haseko Corp (-7.1%), Tokyo Electric Power (-4.5%), and Asahi Kasei Corp (-4.0%). Out of the 225 index members, 120 ended higher, 92 finished lower, and 13 were unchanged.
Hong Kong's Hang Seng declined 0.4% but had been down 1.0% at its lows for the day, which were hit in the afternoon session. China Unicom Hong Kong (-3.0%), China Shenhua Energy (-3.0%), and Sands China (-2.3%) were the worst-performing issues. Hong Kong & China Gas (+1.2%), China Overseas Land & Investment (+0.8%), and Bank of Communications (+0.5%) topped the list of winners. Out of the 50 index members, 11 ended higher, 33 finished lower, and 6 were unchanged.
China's Shanghai Composite increased 1.1% with the entirety of the gain achieved in the final 30 minutes of trading. The market was down 0.9% at its lows of the morning. There was no news catalyst for the closing spike, although media reports during the day touting China's growth prospects were deemed to be sources of support in the comeback from session lows. Some speculative trading flair could be seen in the outperformance of the small-cap Shenzhen Composite (+2.0%) and the start-up laden ChiNext Index (+3.2%).

Major European indices trade lower across the board with Germany's DAX (-0.2%) showing relative strength. On a separate note, the European Central Bank released its survey on bank lending, which indicated lending standards have eased more than expected during the third quarter as banks use additional liquidity to grant loans.

Economic data was limited:
Eurozone August Current Account surplus narrowed to EUR17.70 billion from EUR25.60 billion (expected surplus of EUR20.10 billion)
Germany's September PPI -0.4% month-over-month (expected -0.1%; prior -0.5%); -2.1% year-over-year (consensus -1.8%; last -1.7%)
Swiss September Trade Surplus expanded to CHF3.05 billion from CHF2.86 billion (expected surplus of CHF2.51 billion)

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Germany's DAX is lower by 0.2% with exporters and financials showing relative weakness while utilities outperform. Deutsche Bank, Commerzbank, BMW, and Volkswagen hold losses between 0.7% and 1.8%. On the upside, RWE has climbed 1.4% and E.On trades up 0.8%.
UK's FTSE trades down 0.2% amid weakness in mining names. Antofagasta, BHP Billiton, Glencore, and Rio Tinto have given up between 1.2% and 2.0%. On the flip side, InterContinental Hotels has surged 5.6% after providing an update on performance.
In France, the CAC has slid 0.8% with growth-sensitive names pacing the retreat. ArcelorMittal, Saint Gobain, Total, and Air Liquide are down between 1.4% and 3.2%.

8:32 am: [BRIEFING.COM] S&P futures vs fair value: -2.10. Nasdaq futures vs fair value: -1.00.

The S&P 500 futures trade two points below fair value.

Housing starts rose to a seasonally adjusted annualized rate of 1,206,000 units in September, which was up from a revised 1,132,000 units in August (from 1,126,000). The Briefing.com consensus expected starts to decrease to 1,150,000 units.

Building permits fell to a seasonally adjusted annualized rate of 1,103,000 in September from a revised 1,161,000 for July (from 1,170,000) while the Briefing.com consensus expected a reading of 1,170,000.

7:55 am: [BRIEFING.COM] S&P futures vs fair value: -2.90. Nasdaq futures vs fair value: -4.40.

U.S. equity futures trade modestly lower amid cautious action overseas. The S&P 500 futures hover three points below fair value after spending the night in an eight-point range.

Today's economic data will be limited to September Housing Starts (Briefing.com consensus 1.15 million) and Building Permits (consensus 1.17 million) with both data points set to cross at 8:30 ET.

Treasuries hold modest losses with the 10-yr yield up two basis points at 2.05%.

In U.S. corporate news of note:

IBM (IBM 141.91, -7.31): -4.9% after below-consensus revenue and lowered guidance overshadowed a bottom-line beat.
Verizon (VZ 45.47, +0.77): +1.7% after beating earnings expectations and reaffirming its full-year revenue growth outlook.
Yum! Brands (YUM 75.75, +4.14): +5.8% after announcing plans to split into two separate companies.
Lockheed Martin (LMT 211.00, +0.36): +0.2% after beating earnings and revenue estimates.
Flextronics (FLEX 11.75, +0.55): +4.9% in reaction to better than expected results.
United Technologies (UTX 92.05, 0.00): beat earnings estimates on below-consensus revenue.
Harley Davidson (HOG 51.99, -4.06): -7.2% after missing earnings, revenue, and shipment expectations. In addition, the company lowered its fiscal-year 2015 guidance for shipments and margins.

Reviewing overnight developments:

Asian markets ended mixed. Hong Kong's Hang Seng -0.4%, Japan's Nikkei +0.4%, and China's Shanghai Composite +1.1%
In economic data:
China's September Foreign Direct Investment +9.0% (prior +9.2%)
South Korea's September PPI -0.3% month-over-month (prior -0.6%); -4.5% year-over-year (prior -4.5%)
In news:
A former adviser to the People's Bank of China said the country's 2015 GDP growth is expected to come in around 6.8% and rise to 6.9% in 2016

Major European indices trade lower across the board. Germany's DAX -0.2%, UK's FTSE -0.3%, and France's CAC -0.7%. Elsewhere, Italy's MIB -0.8% and Spain's IBEX -1.0%
Economic data was limited:
Eurozone August Current Account surplus narrowed to EUR17.70 billion from EUR25.60 billion (expected surplus of EUR20.10 billion)
Germany's September PPI -0.4% month-over-month (expected -0.1%; prior -0.5%); -2.1% year-over-year (consensus -1.8%; last -1.7%)
Swiss September Trade Surplus expanded to CHF3.05 billion from CHF2.86 billion (expected surplus of CHF2.51 billion)
Among news of note:
According to the European Central Bank's survey on bank lending, lending standards have eased more than expected during the third quarter as banks use additional liquidity to grant loans

6:10 am: [BRIEFING.COM] S&P futures vs fair value: -6.00. Nasdaq futures vs fair value: -10.90.

6:10 am: [BRIEFING.COM] Nikkei...18207.15...+75.90...+0.40%. Hang Seng...22989.22...-86.40...-0.40%.

6:10 am: [BRIEFING.COM] FTSE...6326.78...-25.60...-0.40%. DAX...10113.24...-51.10...-0.50%.

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

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

http://www.thestrategylab.com
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