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
Archive Real-Time Chat Logs (timestamp, entries/exits, position size): http://www.thestrategylab.com/ftchat/forum/viewforum.php?f=20
Accolades (Testimonials): http://www.thestrategylab.com/Accolades.htm
Business Hours: 8am - 5pm est (Mon - Fri)
wrbanalysis@gmail.com (24/7)
http://stocktwits.com/wrbtrader (24/7)
http://twitter.com/wrbtrader (24/7)


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

Disclaimer: Today's trading performance is not an indication of my future performance and not an indication of the future performance for any trader that decides to learn/apply WRB Analysis.

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

Today's Trade Log: All of my live trades are posted real-time in the timestamp ##TheStrategyLab free chat room. The live trade is posted 3.2 seconds on average after the trade confirmation via an auto script to minimize delays in posting of my trades. You can read today's price action trade journal about my trades (e.g. time, price entry, contract size, price exit, market analysis) as the trade traversed to its completion. In addition, sometimes I'll post real-time trading tips in the free ##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=160&t=2452

The free chat room is not a signal calling trading room. I do not mentor (never have) although I get many requests to do mentoring. There is education but only in members private threads at the forum involving members asking questions (help) about their own trading. Thus, the primary purpose of the free chat room is for you to use as your trade journal so that you can use as valuable feedback and for members to help each other...as in more eyes on the market. Also, you can use the free chat room to ask real-time WRB Analysis questions. Yet, please do not post your brokerage statements in the free chat room. Instead, its highly recommended that you only post your brokerage statements in your private thread for security reasons. The free chat room is on IRC via users request because the IRC servers are located in many different countries, software in many different languages and many different types of social media software can be used to log in. I'm the moderator of the free chat room. Thus, I keep the peace between members and I keep out the trouble makers so that members can peacefully post their observations about the markets, trades and WRB Analysis commentary.


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 trading room. Access instructions for chat room @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164

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

Analysis -----> Trade Signals

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

Daily Trading Plan Routine @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=312&t=3290 contains brief information about trading plan, market context, brokers, trading time frames, position size management and other discussions.

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

Market Context Summaries

The below summaries by Bloomberg, Briefing, Reuters and Yahoo! Finance helps me to do a quick review of the fundamentals, FED/ECB/BOE/IMF actions or any important global economic events (e.g. Eurozone, MarketWatch.com) that had an impact on today's price action in many trading instruments I monitor during the trading day. Simply, I'm a strong believer that key market events causes key changes in supply/demand and volatility resulting in trade opportunities (swing points and strong continuation price actions) that reach profit targets. Thus, I pay attention to these key market events, intermarket analysis (e.g. Forex EurUsd, EuroFX 6E futures, Gold GC futures, Light Crude Oil (WTI) CL & Brent Oil futures, Eurex DAX futures, Euronext FTSE100 futures, Emini ES futures, Emini TF futures, Treasury ZB futures and U.S. Dollar Index futures) while using WRB Analysis from one trade to the next trade to give me the market context for price action trading before the appearance of my technical analysis trade signals. Therefore, I maintain these archives to allow me to understand what was happening on any given trading day in the past involving key market events to help better understand my trade decisions (day trading, swing trading, position trading)...something I can not get from my broker PnL 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


4:25 pm: [BRIEFING.COM] The major averages ended Tuesday's session on a mixed note. The Nasdaq (+0.4%) finished out front, followed by the S&P 500 (unch) and the Dow (-0.2%).

Today's session got off to a flat start after some retailers and restaurants issued disappointing guidance. The cautions comments were shrugged off swiftly, as buyers pushed Chipotle Mexican Grill (CMG 414.48, +19.42), Papa Murphy's (FRSH 4.54, +0.29), and Express (EXPR 10.78, +0.47) higher despite their negative guidance. The three names added between 4.6% and 6.8%, while the SPDR S&P 500 Retail ETF (XRT 44.33, +0.51) added 1.2%. Consumer discretionary (+0.4%) finished in line with financials (+0.4%) and just ahead of health care (+0.3%) atop the leaderboard. However, strength in those sectors could not prevent the S&P 500 from reversing off its high in the afternoon. The index returned to its flat line after a brief appearance above Friday's record close.

Health care marked its session high alongside the broader market around noon, but maintained that level while the rest of the market faced an afternoon retreat. The health care sector had some help from biotechnology, evidenced by the 0.8% increase in the iShares Nasdaq Biotechnology ETF (IBB 286.48, +2.18).

Industrials (+0.3%) also outperformed, aided by an uptick in in airlines after Alaska Air (ALK 92.00, +4.53) reported better-than-expected December traffic data. The sector also received a boost from automakers, with General Motors (GM 37.35, +1.34) adding 3.7% in reaction to upside guidance for 2017.

Materials (+0.1%), telecom services (+0.1%), and the top-weighted technology (-0.1%) sector finished the trading day flat. The tech space ended with a slight loss even though strength in chipmakers sent the PHLX Semiconductor Index higher by 0.5%. The sector couldn't overcome lackluster performances from top components like IBM (IBM 165.52, -2.13) and Oracle (ORCL 38.66, -0.37). The two names finished lower by 1.3% and 1.0%, respectively.

Energy (-1.0%) was the only other cyclical sector to finish in negative territory. The space couldn't overcome crude oil's 2.2% retreat as the commodity finished its trading day at $50.82/bbl. Real estate was the only sector to finish below the energy sector, with a loss of 1.2%. Consumer staples (-0.6%) finished slightly better, while the utilities sector (-0.3%) ended closer to its flat line.

The Treasury market remained relatively flat throughout today's session. The 2-yr yield closed unchanged at 1.19%, while the 10-yr yield finished up one basis point at 2.38%.

Today's trading volume finished above the 50-day moving average as 1.17 billion shares changed hands at the NYSE floor.

Reviewing today's economic data:

November Wholesale Inventories increased 1.0%, which was above the Briefing.com consensus of 0.9%. The prior month's reading was revised to -0.1% from -0.4%.
November Job Openings and Labor Turnover Survey showed that job openings decreased to 5.198 million from a revised 5.451 million (from 5.534 million) in October. For more on these economic releases, be sure to visit Briefing.com's economic calendar

Tomorrow's lone economic report is the MBA Mortgage Applications Index, which will be released at 7:00 ET.

Russell 2000 +1.0% YTD
Dow Jones Industrial Average +0.5% YTD
S&P 500 +1.3% YTD
Nasdaq Composite +3.1% YTD

3:30 pm: [BRIEFING.COM]

Crude oil extended yesterday's notable decline as Friday's data showed the US oil rig count increased for the 10th consecutive week, & following the release of EIA's monthly oil market report
Feb 2017 crude oil futures fell $1.12 (-2.2%) to $50.82/barrel
Contributing factors affecting the price of oil include:
In today's EIA short term oil market report, Brent crude oil prices were forecast to average $53/b in 2017 and $56/b in 2018. West Texas Intermediate (WTI) crude oil prices are forecast to average $1/b less than Brent in both 2017 and 2018.
EIA also stated that U.S. crude oil production averaged an estimated 8.9 mln barrels/day in 2016 and is forecast to avg 9.0 mln barrels/day in 2017 and 9.3 mln barrels/day in 2018.
Last Friday, U.S. energy companies increased oil rigs for a 10th week in a row to 529 rigs, extending a recovery in activity into an 8th month.
Yesterday, Russian energy minister stated that output had fallen by 100k barrels/day in the first week of the month.
In Iraq (OPEC's second-biggest producer) oil exports from the southern Basra ports reached a record high of 3.51 mln barrels/day in Dec.
Saudi Arabia said last week that it is lowering its production in Jan by 486k barrels/day. This takes output down to 10.058 mln barrels/day.
Kuwait's OPEC delegate said that Qatar, Kuwait, and Oman were also complying with the cuts. Kuwait's Nawal Al-Fezaia said that those countries already told customers that cuts were imminent. Kuwait plans to lower output from 2.89 mb/d in Dec to 2.7 mb/d by the end of Jan.
Natural gas erased all of yesterday's losses ahead of Thursday's EIA data
Feb 2017 natural gas closed $0.19 higher (+6.1%) at $3.29/MMBtu
Weekly EIA natural gas inventory data will be released at 10:30 am ET on Thursday
In precious metals, gold ended near a 6-week high hit earlier in the session
Feb 2017 gold ended today's session up $1.60 (+0.1%) to $1186.40/oz
Mar 2017 silver closed today's session $0.16 higher (+1.0%) at $16.84/oz
The dollar index was up about 0.08% around the 102.01 level
Commodities, as measured by the Bloomberg Commodity Index, were +0.6% around the 86.85 level
Base metal copper closed at session highs in afternoon pit trading
Mar 2017 copper closed $0.07 higher (+2.8%) at $2.61/lb

3:00 pm:

[BRIEFING.COM] The stock market is holding on to a slim gain with one hour left in today's session. The benchmark S&P 500 index is higher by 0.1%.

Sector standings remain much the same as the closing bell approaches, with the ends of the leaderboard represented by financials (+0.5%) on top and real estate (-1.3%) at the bottom.

Mid and small caps have performed relatively well as the S&P Mid Cap 400 and the Russell 2000 are up by 0.5% and 0.6%, respectively. The two indices are still in negative territory for the week, however, both down around 0.3%.

U.S. Treasuries have been stable throughout today's session, always staying within reach of their flat lines. The 10-yr yield is up a modest basis point at 2.38% amid a flat U.S. dollar. The U.S. Dollar Index (102.03, +0.11) holds a slim 0.1% gain after spending some time in negative territory this morning.

2:30 pm:

[BRIEFING.COM] Equities have continued their retreat from session highs in recent action as the S&P 500 (+0.1%) approaches its flat line.

Sectors are in retreat this afternoon with seven out of eleven in negative territory. Recent additions to the red include top-weighted technology (unch), telecom services (-0.1%), and materials (-0.2%). While financials (+0.5%), consumer discretionary (+0.4%), and industrials (+0.3%) are still posting gains, all three sectors have fallen from their session highs.

On the flip side, health care has remained strong as the group sits near its session high. The gain has been aided in part by the biotechnology industry, evidenced by the 0.7% uptick in the iShares Nasdaq Biotechnology ETF (IBB 286.13, +1.85).

2:00 pm:

[BRIEFING.COM] The major averages have backed away from their best levels of the day, with the S&P 500 (+0.2%) halving its gain.

The benchmark index frolicked out of the gate, overcoming a spate of disappointing headlines from the consumer discretionary sector (+0.6%). However, the benchmark index has struggled to make a sustained move above Friday's closing level due to losses in sectors like energy (-0.5%) and consumer staples (-0.4%). It hasn't been for the lack of trying, as influential sectors like financials (+0.6%), health care (+0.8%), and industrials (+0.5%) have built on their January gains. For instance, the health care sector is now up 4.2% in January after losing 4.4% in 2016.

Treasuries have maintained narrow ranges throughout the day, but there has been some selling on the long end. The 2-yr yield is flat at 1.18% while the 30-yr yield has increased two basis points to 2.98%.

1:35 pm:

[BRIEFING.COM] The major U.S. indices continue to sport mild gains in afternoon trading as stocks stabilize following yesterday's mixed session.

A look inside the Dow Jones Industrial Average shows that American Express (AXP 77.63, +1.77), Caterpillar (CAT 94.32, +1.95), & Home Depot (HD 136.05, +1.74) are outperforming. American Express is leading the Dow higher after shares were upgraded to Outperform at Oppenheimer.

Conversely, IBM (IBM 166.35, -1.30) is the worst-performing Dow component as shares see an extension from yesterday's sell-off.

For the week, the DJIA is currently -0.21%.

Elsewhere, at the top of the hour, the Treasury's $24 bln 3-year auction drew a high-yield of 1.472% on a bid-to-cover of 2.97.

1:05 pm:

[BRIEFING.COM] The major averages sit just below their session highs early this afternoon. The S&P 500 is up 0.3%, while the Nasdaq (+0.5%) remains ahead of its peers.

The stock market began the trading day slightly lower after many retailers and restaurants issued disappointing guidance. However, the concerns have been shrugged off by the market, evidenced by the 1.5% uptick in the SPDR S&P 500 Retail ETF (XRT 44.46, +0.66). The consumer discretionary sector is also higher, adding 0.6%.

Just ahead of the consumer discretionary space is the financial sector (+0.9%), which tops today's leaderboard. Health care and industrials follow closely, both up near 0.7%. The industrial sector has been aided by an uptick in in airlines after Alaska Air (ALK 92.33, +4.86) reported better-than-expected December traffic data. Alaska Air is higher by 5.5% while Delta Air Lines (DAL 51.16, +1.46), Southwest Airlines (LUV 51.59, +1.29), American Airlines (AAL 48.02, +0.95), and United Continental (UAL 73.42, +2.15) are all up between 2.0% and 3.0%. The broader Dow Jones Transportation Average trades higher by 1.1%.

The top-weighted technology sector (+0.2%) trades a bit behind the broader market, but chipmakers display relative strength. The PHLX Semiconductor Index (+0.4%) outperforms slightly, but the broader sector has been held back by lackluster performances from heavyweights like Apple (AAPL 119.12, +0.12) and Facebook (FB 62.82, +0.18).

Real estate is unchallenged at the bottom of today's standings, with a 1.0% loss. The sector's countercyclical peers --consumer staples and utilities-- are closer to their flat lines, but are still down 0.3% and 0.2%, respectively. The three sectors and energy are the only spaces in negative territory for the year.

Energy (unch) has clung to its flat line in an attempt to overcome crude oil's 1.0% downtick. The commodity trades near its session low at $51.43/bbl. To put more pressure on the energy component, the U.S. Dollar Index (102.06, +0.14) reached positive territory in recent action after spending the morning in the red. The gains come amid relative weakness in the euro (1.0557).

Treasuries are little changed with the 10-yr yield up one basis point at 2.38%.

Reviewing today's economic data:

November Wholesale Inventories increased 1.0%, which was above the Briefing.com consensus of 0.9%. The prior month's reading was revised to -0.1% from -0.4%.
November Job Openings and Labor Turnover Survey showed that job openings decreased to 5.198 million from a revised 5.451 million (from 5.534 million) in October.
For more on these economic releases, be sure to visit Briefing.com's economic calendar

12:25 pm:

[BRIEFING.COM] The stock market hovers near its session high, with the Nasdaq (+0.5%) in front of its peers.

Only three sectors remain in negative territory after nearly half of the sectors opened today's trading session in the red. Real estate (-1.0%) is at the bottom of the leaderboard, with consumer staples (-0.3%) in second-to-last place. The utilities sector (-0.1%) sits just below its flat line, near its session high.

Major European indices ended the trading day slightly higher, with the UK's FTSE (+0.5%) setting the pace. The bourse closed at a record high to extend its winning streak to 11 sessions in a row; its longest streak since the Brexit vote.

12:00 pm:

[BRIEFING.COM] Equity indices have extended to fresh session highs in recent action. The S&P 500 is up 0.4%.

The technology and financial sectors, which comprise over 35.0% of the broader market, are both in positive territory late this morning. The tech space has added 0.3% on a solid showing from chipmakers, evidenced by the 0.6% in the PHLX Semiconductor Index. Financials have set the upbeat pace, increasing by 0.7%, after opening the week on a down note. Some of the sector's top components, such as Wells Fargo (WFC 54.97, +0.73) and Bank of America (BAC 22.94, +0.39), are up more than 1.0% on the day.

The remaining cyclical sectors are in the green, including energy, which has crossed over from negative territory in recent action. The energy space (+0.1%) shows a modest gain, ignoring the downtick in crude oil. The commodity is currently down 0.9% at $51.50/bbl.

11:30 am:

[BRIEFING.COM] The major averages have continued their bullish trends, hitting session highs in recent action. The Nasdaq (+0.5%) continues to set the pace, while the Dow (+0.3%) sits 60 points below the 20k mark.

The consumer discretionary sector (+0.5%) is among today's top performing sectors despite cautious guidance from many retailers and restaurants earlier this morning. The SPDR S&P 500 Retail ETF (XRT 44.34, +0.52) is higher by 1.2% amid solid gains from sector heavyweights like Home Depot (HD 136.07, +1.76), Ross Stores (ROST 66.74, +1.29), and O'Reilly Automotive (ORLY 282.46, +3.06). The three names are all up between 1.1% and 1.9%.

U.S. Treasuries have seen a slight uptick in selling after spending the majority of the morning at their flat lines. The 10-yr yield is up one basis point to 2.37%.

11:00 am:

[BRIEFING.COM] Equities have ticked up in recent action as the S&P 500 (+0.1%) hovers near its session high. The Nasdaq has a slight edge on the benchmark index, posting a 0.2% gain.

At the top of today's leaderboard is the telecom services sector (+0.5%), followed closely by financials (+0.4%) and industrials (+0.4%). The industrials sector has benefited from an uptick in airlines after Alaska Air (ALK 92.14, +4.64) reported upbeat December traffic data. The airline is higher by 5.1% while Delta Air Lines (DAL 50.82, +1.14), Southwest Airlines (LUV 51.43, +1.13), American Airlines (AAL 47.91, +0.80), and United Continental (UAL 73.42, +2.15) are all up between 0.9% and 2.1%.

Countercyclical sectors have overtaken the bottom half of the leaderboard with real estate (-0.9%), consumer staples (-0.4%), and utilities (-0.1%) all in negative territory. Energy (-0.2%) is also lower, unable to counter crude oil's 1.0% retreat. The energy component trades at $51.42/bbl.

10:30 am: [BRIEFING.COM]

Crude extended yesterday's notable losses in a volatile pit trading session ahead of today's API data
Feb 2017 crude oil futures were down $0.34 (-0.7%) around the $51.61/barrel level
API data will be released today after the bell.
EIA data will be released tomorrow at 10:30 am ET.
Baker Hughes rig count data will be released Friday at 1 pm ET.
Contributing factors affecting the price of oil:
U.S. energy companies increased oil rigs for a 10th week in a row to 529 rigs, extending a recovery in activity into an 8th month.
Yesterday, Russian energy minister stated that output had fallen by 100k barrels/day in the first week of the month.
In Iraq (OPEC's second-biggest producer) oil exports from the southern Basra ports reached a record high of 3.51 mln barrels/day in Dec.
Saudi Arabia said last week that it is lowering its production in Jan by 486k barrels/day. This takes output down to 10.058 mln barrels/day.
Kuwait's OPEC delegate said that Qatar, Kuwait, and Oman were also complying with the cuts. Kuwait's Nawal Al-Fezaia said that those countries already told customers that cuts were imminent. Kuwait plans to lower output from 2.89 mb/d in Dec to 2.7 mb/d by the end of Jan.
Natural gas erased all of yesterday's losses ahead of Thursday's EIA
Feb 2017 natural gas futures were up $0.15 (+4.7%) around the $3.26/MMBtu level
EIA natural gas inventory data will be released Thursday at 10:30 am ET.
In precious metals, gold futures rallied to their highest levels in 6-weeks, as the dollar index continued its retreat from last week's 14-year high
Feb 2017 gold futures were up about $3.40 (+0.3%) around the $1,188.30/oz level
Mar 2017 silver futures were up about $0.14 (+0.8%) around the $16.82/oz level
The dollar index was -0.2% around the 101.78 level, provided support to precious metals in morning pit trading
Commodities, as measured by the Bloomberg Commodity Index, were +0.8% around the 87.00 level

10:05 am:

[BRIEFING.COM] The stock market sits just below its flat line with the S&P 500 lower by 0.1%.

Just released, November Wholesale Inventories increased 1.0%, which was above the Briefing.com consensus of 0.9%. The prior month's reading was revised to -0.1% from -0.4%.

Separately, the November Job Openings and Labor Turnover Survey showed that job openings decreased to 5.198 million from a revised 5.451 million (from 5.534 million) in October.

9:45 am:

[BRIEFING.COM] The major averages began the trading day near their flat lines with the S&P 500 lower by 0.1%.

The health care sector (+0.3%) is out front, while the remaining non-cyclical groups underperform. Real estate, telecom services, utilities, and consumer staples are all down between 0.3% and 0.7%.

On the cyclical side, five of six sectors are in positive territory. Energy (-0.3%) bucks the trend despite a modest 0.2% gain in crude oil. WTI crude trades at $52.06/bbl.

Treasuries have returned to their flat lines after early selling pressure. The 10-yr yield is unchanged at 2.37%.

9:13 am: [BRIEFING.COM] S&P futures vs fair value: +0.80. Nasdaq futures vs fair value: +0.40.

The stock market is on track for a flat opening as the S&P 500 futures trade one point above fair value.

In pre-market trade, Chipotle Mexican Grill (CMG 412.00, +16.94) is higher by 4.3% despite issuing downside guidance. Illumina (ILMN 161.53, +19.99) is also ticking up, spiking 14.1% after issuing above-consensus revenue guidance for the fourth quarter. Conversely, Williams Companies (WMB 28.62, -3.28) has fallen 10.3% after pricing a secondary offering. In addition, the stock was downgraded to 'Hold' from 'Buy' at Jefferies.

After an upbeat start to the week, U.S. Treasuries are under modest selling pressure early this morning. The 10-yr yield is higher by two basis points at 2.39%.

Today's economic data will be limited to November Job Openings (JOLTS) and November Wholesale Inventories (Briefing.com consensus 0.9%). Both reports will be released at 10:00 am ET.

8:53 am: [BRIEFING.COM] S&P futures vs fair value: +0.30. Nasdaq futures vs fair value: +0.60.

The S&P 500 futures trade flat.

Equity indices in the Asia-Pacific region ended Tuesday on a mostly lower note. The yen advanced against the dollar in overnight action, but that move has been retraced entirely. In China, December PPI (5.5% year-over-year; expected 4.5%) climbed to a five-year high while inflation on the consumer level (2.1% year-over-year; expected 2.3%) was cooler than expected. The National Development and Reform Commission said that uncertainty will be on the rise in 2017, but the government will continue keeping tabs on economic performance.

In economic data:
China's December PPI +5.5% year-over-year (consensus 4.5%; last 3.3%). December CPI +0.2% month-over-month (expected 0.3%; last 0.1%); +2.1% year-over-year (consensus 2.3%; previous 2.3%)
Japan's December Household Confidence 43.1 (expected 41.3; last 40.9)
Australia's November Retail Sales +0.2% month-over-month (expected 0.4%; last 0.5%)

---Equity Markets---

Japan's Nikkei lost 0.8% after being closed on Monday. Fast Retailing, Oki Electric, Dai-ichi Life Insurance, Konami, Isuzu Motors, Hino Motors, Credit Saison, and NGK Insulators lost between 1.8% and 2.6%. On the upside, Sony, Tokyo Electron, and Dentsu posted gains between 1.2% and 2.4%.
Hong Kong's Hang Seng climbed 0.8% with support from most components. Property names like Sino Land, New World Development, Henderson Land, Cheung Kong Property Holdings, and China Resources Land advanced between 1.0% and 1.9%. Telecom names lagged with China Unicom Hong Kong falling 2.3% and China Mobile shedding 0.3%.
China's Shanghai Composite slipped 0.3%. Giti Tire, Shanghai Material Trading, Greattown Holdings, and Shanghai Diesel Engine fell between 4.4% and 5.8%.
India's Sensex advanced 0.7% with growth-sensitive names leading the rally. Adani Ports, Tata Motors, Tata Steel, and Asian Paints added between 1.5% and 3.3%. Financials were mostly higher with HDFC Bank, ICIC Bank, and SBI rising between 0.3% and 1.5% while AXIS Bank lost 1.2%.

Major European indices trade with slim gains while Spain's IBEX (-0.7%) underperforms. In Germany, Jorg Meuthen, who is the economist for the right-wing AFD party, said the Eurozone could be split into two separate currency unions-a stronger one clustered around Germany while a weaker one would be clustered around France. Recall that Marine Le Pen, who is expected to be in a tight three-way race for French presidency in April, has voiced support for significant changes to the structure of the eurozone.

Economic data was limited:
France's November Industrial Production +2.2% month-over-month (expected 0.6%; last -0.1%)
Swiss December Unemployment Rate held at 3.3%, as expected

---Equity Markets---

UK's FTSE is higher by 0.2% with miners showing relative strength. Anglo American, Rio Tinto, BHP Billiton, Antofagasta, and Fresnillo posted gains between 2.4% and 6.1%. Consumer names have also contributed to the advance with Tesco, Morrison Supermarkets, InterContinental Hotels, Merlin Entertainments, Next, and Sainsbury adding between 1.4% and 3.9%. Homebuilders Taylor Wimpey, Persimmon, and Barratt Developments are up between 1.7% and 2.7%.
Germany's DAX has added 0.1%. Siemens has jumped 1.7% in reaction to an upgrade, while exporters are mixed. Continental holds a 2.3% gain while Volkswagen sits just below its flat line. Financials have been weak with Commerzbank and Deutsche Bank down 1.4% and 2.7%, respectively.
France's CAC sits just above its flat line, looking to avoid its second consecutive decline. Recent strength in commodity prices has sent ArcelorMittal to the top of the day's leaderboard with a gain of 3.0%. Automakers Renault and Peugeot are up 2.8% and 0.5%, respectively, while financials are mixed. Societe Generale has added 0.4% while Credit Agricole and BNP Paribas are both down 0.1% and 0.4%, respectively. Countercyclical names like Orange and Veolia Environnement lag, down 1.6% and 2.4%, respectively.
Spain's IBEX trades lower by 0.7% amid weakness in financials. Banco Popular, BBVA, Bankia, Banco Sabadell, and Caixabank are down between 0.5% and 2.8%.

8:31 am: [BRIEFING.COM] S&P futures vs fair value: flat. Nasdaq futures vs fair value: +0.40.

The stock market is poised for a flat open as the S&P 500 futures trade at fair value.

In corporate news, many companies have issued guidance ahead of conferences today. Several retailers and restaurants have issued cautious guidance, including Chipotle Mexican Grill (CMG 396.00, +0.94), Papa Murphy's (FRSH 4.25, 0.00), Popeyes Louisiana Kitchen (PLKI 59.06, 0.00), Kona Grill (KONA 11.75, 0.00), Shoe Carnival (SCVL 25.49, 0.00), Boot Barn Holdings (BOOT 11.50, -0.64), and Express (EXPR 10.50, +0.19), among others.

On the earnings front, Barracuda Networks (CUDA 25.80, +2.03) is higher by 8.5% in pre-market trade after beating top and bottom line estimates and issuing in-line guidance. WD-40 (WDFC 110.30, -7.00) is lower by 6.0% after missing on the top and bottom lines and reaffirming guidance.

U.S. Treasuries remain under pressure with the 10-yr yield up two basis points to 2.39%.

8:10 am: [BRIEFING.COM] S&P futures vs fair value: +1.00. Nasdaq futures vs fair value: +2.30.

Equity futures are flat ahead of Tuesday's open with the S&P 500 futures trading one point above fair value. Global markets are mixed with Asia closing on a mostly lower note while European indices hold modest gains.

Crude oil spent most of the overnight session near its flat line and remains at the same level this morning. The commodity is modestly higher, up 0.3% at $52.11/bbl.

After an upbeat start to the week, U.S. Treasuries are under modest selling pressure early this morning. The 10-yr yield is higher by two basis points at 2.39%.

Today's economic data will be limited to November Job Openings (JOLTS) and November Wholesale Inventories (Briefing.com consensus 0.9%). Both reports will be released at 10:00 am ET.

In U.S. corporate news of note:

Chipotle Mexican Grill (CMG 382.00, -13.06): -3.3% after issuing downside guidance.
Barracuda Networks (CUDA 26.00, +2.23): +9.8% after beating on revenues and issuing in-line guidance.
Williams Companies (WMB 28.83, -3.10): -9.7% after the stock was downgraded to 'Hold' from 'Buy' at Jefferies.
Illumina (ILMN 161.00, +19.46): +13.8% after issuing above-consensus revenue guidance for the fourth quarter. The stock was upgraded to 'Buy' from 'Neutral' at Bank of America/Merrill Lynch.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region ended Tuesday on a mostly lower note. Japan's Nikkei -0.8%, Hong Kong's Hang Seng +0.8%, China's Shanghai Composite -0.3%, India's Sensex +0.7%.
In economic data:
China's December PPI +5.5% year-over-year (consensus 4.5%; last 3.3%). December CPI +0.2% month-over-month (expected 0.3%; last 0.1%); +2.1% year-over-year (consensus 2.3%; previous 2.3%)
Japan's December Household Confidence 43.1 (expected 41.3; last 40.9)
Australia's November Retail Sales +0.2% month-over-month (expected 0.4%; last 0.5%)
In news:
In China, December PPI (5.5% year-over-year; expected 4.5%) climbed to a five-year high while inflation on the consumer level (2.1% year-over-year; expected 2.3%) was cooler than expected. The National Development and Reform Commission said that uncertainty will be on the rise in 2017, but the government will continue keeping tabs on economic performance.

Major European indices trade with slim gains while Spain's IBEX underperforms. UK's FTSE +0.4%, Germany's DAX +0.2%, France's CAC +0.1%, Spain's IBEX -0.7%.
In economic data:
France's November Industrial Production +2.2% month-over-month (expected 0.6%; last -0.1%)
Swiss December Unemployment Rate held at 3.3%, as expected
In news:
In Germany, Jorg Meuthen, who is the economist for the right-wing AFD party, said the Eurozone could be split into two separate currency unions-a stronger one clustered around Germany while a weaker one would be clustered around France. Recall that Marine Le Pen, who is expected to be in a tight three-way race for French presidency in April, has voiced support for significant changes to the structure of the eurozone.

5:57 am: [BRIEFING.COM] S&P futures vs fair value: +1.80. Nasdaq futures vs fair value: +3.60.

5:57 am: [BRIEFING.COM] Nikkei...19301...-152.90...-0.80%. Hang Seng...22745...+186.20...+0.80%.

5:57 am: [BRIEFING.COM] FTSE...7259.97...+22.20...+0.30%. DAX...11589.26...+25.30...+0.20%.

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

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

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