TheStrategyLab.com Price Action Trading Support Forum

Trade Journal By M.A. Perry
Trader and Founder of WRB Analysis (wide range body analysis)

Trade journals are crucial in preventing us traders from becoming complacent or content with our trading plan or the markets because without having the ability to review archives of past trading days in a forever changing market...we won't know it's time to adapt when change occurs in the markets because broker statements alone doesn't help us keep that edge in comparison to a trade journal. In addition, this public trade journal contains useful trading tips a few times per week to encourage readers to return for more information and to help ensure I myself don't forget the importance of basic concepts within my own trading plan. Further, there are market summaries from Youtube Bloomberg, CNNMoney and Yahoo Finance as a quick archive of what happened in the markets on a particular day of trading. Thus, if you're looking for trading tips and market summaries that can improve your trading and/or understanding of what happen on a particular day that involves more than just entry signals...consistently read this trade journal and the #FuturesTrades chat room logs where I post my trades in real-time from entry to exit (see link below) via my IRC user name wrbtrader.

Today's #FuturesTrades chat room logs is archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=78&t=611

click on the below images to view normal size

Trade Performance for Today: +2.10 points or $210 dollars in the ICE Russell 2000 Emini TF ($TF_F) Futures.
1 tick or 0.10 = $10 dollars and to find out more contract information about the Russell 2000 Emini TF...click here.


FYI - You can ask me questions here at the forum or you can tweet me on twitter about any thing related to today's trading or related to your own trading.

@ http://twitter.com/wrbtrader

In addition, posted below are direct links about my trade methodology or trading approach 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 analysis).

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/viewforum.php?f=119. However, you must join the TSL Support Forum to access the free study guide. To register...click here.

Volatility Trading Report (VTR) @ http://www.thestrategylab.com/VolatilityTrading.htm

Daily Trade Routine @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=121&t=761

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

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

U.S. Stocks Advance Most Since July on Manufacturing: Video
Sept. 1 (Bloomberg) -- Bloomberg's Elizabeth Faublas reports on the performance of the U.S. equity market today. U.S. stocks rallied the most in almost two months as better-than-estimated growth in American and Chinese manufacturing bolstered confidence in the global economic recovery. Bloomberg's Pimm Fox also speaks.

September Surprise: Stocks Soar

By Ben Rooney, staff reporter
September 1, 2010: 4:23 PM ET

NEW YORK (CNNMoney.com) -- The bulls are back on Wall Street. After a bearish August, stocks roared into September with a major rally on Tuesday, as investors cheered signs of strength in the manufacturing sector.

The Dow Jones industrial average (INDU) gained 256 points, or 2.2%, according to early tallies. The S&P 500 (SPX) soared 31 points, or 2.9%. The Nasdaq (COMP) composite rallied 63 points, or 3%.

Stocks rallied right out of the gate as investors welcomed a rebound in Chinese manufacturing activity and robust economic growth in Australia. The advance kicked into high gear following an unexpectedly strong report on U.S. manufacturing activity.

Shares of industrial names and companies in the materials sector led the charge. Caterpillar (CAT, Fortune 500), United Technologies (UTX, Fortune 500), Boeing (BA, Fortune 500) all gained between 1% and 3%. Energy producers Exxon (XOM, Fortune 500) and Chevron (CVX, Fortune 500) also rose as oil prices spiked 3%.

But the rally was broad-based. Six stocks gained for every one that fell on the New York Stock Exchange. All 30 Dow components closed higher.

While the improvement in manufacturing allayed some concerns about the U.S. economy, traders said the market remains vulnerable given the uncertain outlook for growth this year.

Investors shrugged off a weaker-than-expected report from payroll processing firm ADP, which is widely seen as a leading indicator for Friday's jobs report from the Labor Department.

"This market is looking for something to grab on to," said Mark Luschini, chief investment strategist for Janney Montgomery Scott. "And for the moment it's manufacturing."

The major gauges ended the previous session essentially unchanged, closing out a lackluster August. Stocks typically start September strong, but often end on a weak note due to end-of-the-quarter movements by mutual funds.

Economy: The Institute for Supply Management's (ISM) said its index of manufacturing activity rose to 56.3 in August. Economists were expecting the index to edge lower. Any number above 50 indicates growth in the sector.

Meanwhile, payroll processing firm ADP reported that employers cut 10,000 jobs in August. Economists were expecting private sector employers to add 13,000 jobs during the month, after adding 37,000 in July.

A seperate report showed that planned job cuts plummeted to a 10-year low in August, as employers shed 34,768, down 17% from the previous month, according to outplacement firm Challenger, Gray & Christmas.

The reports come two days before the government's monthly report on jobs and unemployment. Economists expect the government to report that the economy lost 120,000 jobs in August, after employers cut payrolls by 131,000 in July. The unemployment rate is expected to edge up to 9.6% from 9.5%.

"While the manfacturing number is nice to hang your hat on, the state of the consumer is still paramount for what's happening in the economy, " said Luschini.

Other reports on Wednesday included construction spending, which fell 1% in July, versus a forecasted 0.7% decline.

0:00 /5:36Double-dip or just slow growth

Companies: General Motors, Ford Motor (F, Fortune 500) and Toyota (TM) all reported disappointing sales Wednesday, kicking off what is expected to be the worst August for industrywide auto sales in 27 years.

The drop in auto sales is partly a result of tough comparisons to the Cash for Clunkers program of last summer.

Shares of Burger King Holdings (BKC) jumped 14%, following a report that the fast food chain is considering a possible sale to buyout firms. The Wall Street Journal reported that that private equity firms that have expressed interest in buying Burger King include Britain's 3G Capital Group.
0:00 /:53A new home for BK's Whopper?

Apple's (AAPL, Fortune 500) stock was up 2.8% as the company held its annual -themed special event. CEO Steve Jobs is expected to unveil its newest iPods and advances in the iTunes store.

Shares of BP (BP) climbed 3.7% as the oil giant said it has agreed to sell its interests in ethylene and polyethylene production in Malaysia to government-owned Petronas for $363 million in cash.

World markets: European shares rose in afternoon trading. The FTSE 100 in Britain jumped 2.7%, the CAC 40 in France added 3.8% and the DAX in Germany gained 2.1%.
China manufacturing could help avoid 'hard landing'

In Asia, Japan's benchmark Nikkei index gained nearly 1.2%, rebounding after hitting a 16-month low on Tuesday, and the Hang Seng in Hong Kong rose 0.4%. The Shanghai Composite fell 0.6%, despite a report that showed China's manufacturing sector bounced back in August after several months of slowing.

Currencies and commodities: The dollar fell against the euro and the British pound, but rose versus the Japanese yen.

Currency trading volume around the world has hit $4 trillion a day, a 20% jump compared to 2007, said the Bank of International Settlement.

Oil futures for October delivery rose $2.08 to $74.03 a barrel. Gold for December delivery fell $2.20 to $1,248.10 an ounce.

Bonds: The yield on the 10-year Treasury note rose to 2.58% from 2.48% late Tuesday.



Yahoo! Finance

4:35 pm : A drastically improved tone among participants caused stocks to climb quickly and sharply early on, but the S&P 500 spent the rest of the session trending alongside its 50-day moving average.

Strong overseas gains and pleasing data from abroad inspired buyers to return to the fold after an extended absence in recent weeks. Their bids even persisted in the face of the August ADP Employment Change report, which indicated that private payrolls fell by 10,000 last month, when an increase of 13,000 had been widely expected.

Stocks extended their advance with help from the August ISM Manufacturing Index, which came in at 56.3. Its increase from 55.5 from July flew in the face of calls for a decline to 52.9.

While this session's surge was underpinned by an improved mood among market participants, short covering augmented the move as many scrambled to cover bets they had made against the market ahead of the official nonfarm payrolls report on Friday. That report will likely play a pivotal part in this week's remaining sessions, given that it offers insight into the health of U.S. companies and it carries implications for the broader economy. Concerns about the pace and sustainability of the economic recovery have led to cautious trade in recent sessions.

Still, it was a bullish sign that more than 98% of the names in the S&P 500 staged gains. Some of the biggest moves were made by financials and industrial stocks. Coming off of monthly losses of approximately 7% and 8%, respectively, both sectors climbed 3.9%.

Despite such strength, the S&P 500 could not push past its 50-day moving average, which is in the 1080 zone. Still, the broad market measure made its best gain in nearly two months. That gain and those booked by overseas markets helped the Dow Jones World Index spike 2.7% in its best single-session move in three months.

With participants showing a willingness to hold riskier issues, the dollar dropped to a 0.9% loss, its worst single-session slide in a month. Treasuries also toppled to drive yields markedly higher. Meanwhile, the CRB Commodity Index rallied to a 1.6% gain, its best single-session move in more than a month, most of which was owed to a spike in oil prices.

Oil prices spiked 2.8% to $73.91 per barrel. The energy component had been as high as $74.48 per barrel.

Precious metals failed to find sustainable support this session. As such, gold prices climbed to a new two-month high of about $1255.30 per ounce, but inevitably slipped to a 0.2% loss at $1248.10 per ounce. In similar fashion, silver prices climbed to about $19.50 per ounce, a three-month high, before slipping to $19.39 per ounce to log a 0.2% loss.

Advancing Sectors: Industrials (+3.9%), Financials (+3.9%), Energy (+3.6%), Consumer Discretionary (+3.4%), Materials (+2.9%), Tech (+2.7%), Health Care (+2.3%), Utilities (+2.2%), Consumer Staples (+1.7%), Telecom (+1.6%)
Declining Sectors: (None)DJ30 +254.75 NASDAQ +62.81 NQ100 +3.0% R2K +3.8% SP400 +3.4% SP500 +30.96 NASDAQ Adv/Vol/Dec 2186/2.16 bln/475 NYSE Adv/Vol/Dec 2649/1.19 bln/422

3:30 pm : The CRB Commodity Index rallied to a 1.6% gain, its best single-session move in more than a month. Most of that move was owed to a spike in oil prices.

Oil prices spiked 2.8% to $73.91 per barrel. The energy component had been as high as $74.48 per barrel.

Natural gas prices resumed their slide with a 1.6% drop to $3.76 per MMBtu. Prior to back-to-back gains on Monday and Tuesday, prices for the energy component fell for seven straight sessions to take contract prices to 11-month lows near $3.60 per MMBtu.

Precious metals failed to find sustainable support this session. As such, gold prices climbed to a new two-month high of about $1255.30 per ounce, but inevitably slipped to a 0.2% loss at $1248.10 per ounce. In similar fashion, silver prices climbed to about $19.50 per ounce, a three-month high, before slipping to $19.39 per ounce to log a 0.2% loss. DJ30 +229.06 NASDAQ +58.05 SP500 +28.60 NASDAQ Adv/Vol/Dec 2118/1.67 bln/520 NYSE Adv/Vol/Dec 2629/755 mln/435

3:00 pm : Sideways trade has carried stocks into the final hour of the session. Whether stocks hold their gains or sell off should provide market watchers with insight into the market's mood, which has been cautious and even timorous in recent weeks. The conviction of investors will really be tested with the release of the latest nonfarm payrolls report on Friday.

Trading volume has been solid this session. That also contrasts the action of recent weeks, during which time share volume on the NYSE averaged levels below 1 billion shares per session. Trading volume in the prior session actually spiked to its highest level in more than a month, but that was largely the result of end-of-month activity. DJ30 +224.55 NASDAQ +55.30 SP500 +27.87 NASDAQ Adv/Vol/Dec 516/2096/1.57 bln NYSE Adv/Vol/Dec 2613/710 mln/420

2:30 pm : The S&P 500 has spent the past four hours trading in a narrow, five-point range right alongside its session high. Such steady gains have caused volatility to cool, such that the Volatility Index is currently down 7%.

Domestic stocks haven't been the only ones to make heady gains on Tuesday. Outside of the U.S., France's CAC climbed 3.8%, Britain's FTSE spiked 2.7%, Germany's DAX advanced 2.7%, Japan's Nikkei gained 1.2%, and Hong Kong's Hang Seng ascended to a 0.4% gain. China's Shanghai Composite closed with a 0.6% loss, however. DJ30 +230.08 NASDAQ +55.31 SP500 +28.17 NASDAQ Adv/Vol/Dec 2093/1.46 bln/518 NYSE Adv/Vol/Dec 2614/657 mln/394

2:00 pm : Though the stock market remain stuck in a sideways drift, oil prices continue to climb. The commodity was last quoted at $74.25 per barrel, which makes for a 3.2% gain.

Coupling broader market strength with the climb in oil prices, energy stocks have made their way to a collective gain of 3.6%. Energy stocks are only slightly behind materials stocks, which currently sport a 3.7% gain and are the best performers this session. DJ30 +242.53 NASDAQ +58.49 SP500 +29.35 NASDAQ Adv/Vol/Dec 2108/1.36 bln/480 NYSE Adv/Vol/Dec 2625/604 mln/369

1:30 pm : Stocks are holding steady in a tight trading range that has run alongside session highs. Though stocks have so far been unable to extend their climb above the 1080 line, they haven't exactly backed down either. This session's surge marks the best start to September in more than a decade. DJ30 +236.70 NASDAQ +57.10 SP500 +28.85 NASDAQ Adv/Vol/Dec 2103/1.26 bln/480 NYSE Adv/Vol/Dec 2614/555 mln/376

1:00 pm : Coming off of a monthly loss of almost 5%, buyers have stepped back into the action to give stocks their biggest boost in more than a month.

Trade started on a strong note this session. Participants responded to the heady gains of overseas markets by entering strong bids of their own. Bids persisted in the face of a disappointing August ADP Employment Change report, which indicated that private payrolls fell by 10,000 last month, when an increase of 13,000 had been widely expected. The ADP data precedes government's official nonfarm payrolls report, which is due Friday.

The S&P 500 initially paused near the 1065 line, which marked last week's highs, but buyers were emboldened by a better-than-expected August ISM Manufacturing Index, which improved to 56.3 from 55.5 in July. That completely overshadowed July construction spending figures, which showed a sharper-than-expected slide of 1.0%.

Though the broader market was able to push past near term resistance with help from some short covering, the S&P 500 has stalled near its 50-day moving average, which currently stands near the 1080 line.

Nonetheless, this session's strength has about 98% of the names in the S&P 500 in higher ground and the broader market on track for its best performance by percent gained since early July. Such action comes in stark contrast to the lackluster sessions logged in recent weeks, most of which was underpinned by economic uncertainty.

Industrial stocks have been this session's best performers. All 57 sector members are currently in higher ground, helping drive the sector to a 3.6% gain. That move comes after the sector lagged during the past couple of weeks and dropped 6% over the course of the past nine sessions.

Even the worst performing sectors - telecom and consumer staples - are up in excess of 1%.

HJ Heinz (HNZ 46.39, +0.15) had been one of the few names mired in negative territory earlier this session, but the stock has since made its way to higher ground. The company announced this morning first quarter earnings that exceeded what had been widely expected. It also reaffirmed growth projections.

With stocks so strong, many participants are rotating out of more conservative positions. That has dropped Treasuries for sharp losses and sent the dollar down to its worst loss in a month. DJ30 +232.80 NASDAQ +55.41 SP500 +28.03 NASDAQ Adv/Vol/Dec 2100/1.18 bln/467 NYSE Adv/Vol/Dec 2616/522 mln/356

12:30 pm : At midsession, Rowan Companies (RDC 28.15, +2.44), Western Digital (WDC ), and Cummins (CMI 79.78, +5.37) are this session's three best performers by percent gained. However, trading volume is heaviest around Citigroup (C 3.82, +0.11), Bank of America (BAC 13.04, +0.59), and Cisco (CSCO 20.45, +0.47).

Conversely, Brown Forman (BF.B 57.69, -3.60), Newmont Mining (NEM 60.67, -0.65), and Hudson City Bank (HCBK 11.38, -0.15) are the three worst performers by percent lost. Volume is lightest among Washington Post (WPO 373.80, +13.57), Dun & Bradstreet (DNB 67.21, +1.31), and Autozone (AZO 213.45, +3.67).DJ30 +234.01 NASDAQ +56.03 SP500 +27.99 NASDAQ Adv/Vol/Dec 2090/1.10 bln/467 NYSE Adv/Vol/Dec 2630/485 mln/339

12:00 pm : All 10 major sectors are up in excess of 1%. Half of them are actually up by 3% or more.

Such strength among stocks has spurred selling among Treasuries, which have been so strong in recent weeks that yields have dropped to annual lows. However, the benchmark 10-year Note is down more than a full point at the moment and its yield is back up to 2.60%. Meanwhile, the 30-year Bond has dropped nearly three points so that its yield is up to 3.67%. DJ30 +246.96 NASDAQ +59.72 SP500 +29.37 NASDAQ Adv/Vol/Dec 2114/990 mln/412 NYSE Adv/Vol/Dec 2624/445 mln/319

11:30 am : Stocks have entered into a narrow trading range that has kept them just a couple of points below the 1080 zone, which represents the stock market's 50-day moving average. However, the sideways drift has kept stocks on track for their best single-session surge since early July.

This session's strength is underpinned by broad-based buying that has given advancing issues a huge advantage over decliners, such that more than 98% of the names in the S&P 500 are in higher ground. HJ Heinz (HNZ 46.09, -0.15) is one of only a few stocks that has failed to find support, even though the company announced this morning that its first quarter adjusted earnings will total $0.75 per share, which exceeds the $0.72 per share that had been widely expected. Heinz also reaffirmed its growth projections. DJ30 +249.83 NASDAQ +62.14 SP500 +29.37 NASDAQ Adv/Vol/Dec 2123/890 mln/395 NYSE Adv/Vol/Dec 2625/400 mln/290

11:00 am : The stock market continues to climb. As a result, the S&P 500 is now just shy of its 50-day moving average near the 1080 line.

Industrial stocks are this session's best performers. As a group, they are up 3.8%. That surge comes after the sector shed 6% during the course of the past nine sessions, while the broader market gave up about 4% during that same time span.

All 57 members of the S&P 500 Industrial Sector are in higher ground at the moment, but Cummins (CMI 79.70, +5.29), Flowserve (FLS 93.95, +4.57), and Eaton (ETN 73.35, +3.87) are primary leaders. DJ30 +244.04 NASDAQ +61.94 SP500 +28.94 NASDAQ Adv/Vol/Dec 2090/740 mln/364 NYSE Adv/Vol/Dec 2622/337 mln/280

10:35 am : In recent action, the stock market and select commodities rallied on positive economic data. At the top of the hour, August PMI Manufacturing data was reported at 56.3 versus the 52.9 Briefing.com consensus and versus 55.5 in July.

The US Dollar Index is trading near session lows of 82.194, providing additional price support this morning in select commodities. In sum, energy markets are strong, while precious metals are trading near session lows.

December crude oil has been in positive territory since the overnight session. Just before 8:30am ET, crude began to rally, and after extending gains at the top of the hour, crude pushed to session highs of $73.85 per barrel. Ahead of inventory data, crude was just under those highs. Following the data, which showed a build of 3.4 million barrels versus consensus that called for a build of 1.2 million barrels, crude saw a modest pullback, but has since recovered and put in new session highs of $74.07 per barrel. Currently, crude is 2.9% higher at $73.98 per barrel.

December natural gas was in the red overnight and this morning before rallying into positive territory and new session highs of $3.88 per MMBtu when pit trading began. Currently, natural gas is 1.7% higher at $3.83 per MMBtu.

December gold pulled back at the open of pit trading, after hitting levels not seen in two months. Gold fell to session lows in recent activity of $1246.20 per ounce and is currently just above that level at $1247.00 per ounce, down 0.2%. December silver was also higher this morning, pushing to levels not seen in nine weeks. However, silver pulled back along with gold this morning, falling back to new session lows and is currently 0.5% lower at $19.34 per ounce.DJ30 +216.00 NASDAQ +54.72 SP500 +25.47 NASDAQ Adv/Vol/Dec 2073/525.3 mln/321 NYSE Adv/Vol/Dec 2602/249.3 mln/235

10:00 am : Stocks have pushed through resistance to their best levels in more than a week with the release of the August ISM Manufacturing Index, which improved to 56.3 from 55.5 in July. The August reading had been expected, on average, to slip to 52.9, according to a sample of economists polled by Briefing.com.

Construction spending data for July was also just released. Though spending fell 1.0%, which is sharper than the 0.7% decline that had been widely expected, the number has been overshadowed by the ISM reading. DJ30 +224.70 NASDAQ +50.60 SP500 +25.03 NASDAQ Adv/Vol/Dec 1997/315 mln/313 NYSE Adv/Vol/Dec 2549/158 mln/229

09:45 am : Stocks opened trade with a sharp, upward push, but the move stalled as the S&P 500 came in touch with the 1065 line, which marks last week's highs.

Though stocks appear to have run into a cieling, gains remain robust, such that all 10 major sectors are in positive territory and seven of them currently sport gains of more than 1%.

Commodities have also caught a strong bid as participants show an increased tolerance for risk. In turn, the the CRB Commodity Index is up 0.9%. DJ30 +113.83 NASDAQ +29.06 SP500 +14.08 NASDAQ Adv/Vol/Dec 1924/153 mln/298 NYSE Adv/Vol/Dec 2456/84 mln/236

09:15 am : S&P futures vs fair value: +14.30. Nasdaq futures vs fair value: +27.20. Cautious trade in recent sessions led to losses in six of the last nine trading days, but this morning stock futures suggest that a strong start to today's trade is in order. The healthy bid has even held up in the face of a disappointing ADP Employment Change for August. Construction spending figures for July and the August ISM Manufacturing Index have yet to be released, though. Both are due at 10:00 AM ET. Overseas data has been met with a positive reaction, which has helped fuel strong gains in both Europe and Asia, though the Shanghai Composite slipped. Foreign currencies have also caught a strong bid, such that the dollar is down 1.2% against competing currencies.

09:05 am : S&P futures vs fair value: +13.50. Nasdaq futures vs fair value: +27.20. Europe's major bourses have started September on a strong note. Specifically, Germany's DAX has ascended to a 1.2% gain. Its strength is broad based, but consumer staples stocks (+2.4%) and consumer discretionary plays (+2.0%) have attracted the strongest bids, though July data showed a 0.3% drop in monthly retail sales when an increase had been expected. An improvement in monthly retail sales figures has helped. In other data, Germany's final Manufacturing PMI for August came in at 58.2, unchanged from the prior reading. France's final Manufacturing PMI for August came in at 55.1, which marked a modest increase over the prior reading of 54.7. France's CAC is currently up 1.9%. It is led by BNP Paribas and Total (TOT), though broad-based buying has lifted every component in the 40-member index except Bouygues SA. In Britain, the FTSE is up 1.5%. Basic materials stocks are in the best shape as they sport a 2.6% gain. Tech stocks (+2.0%) and industrial stocks (+2.0%) are also exceptionally strong. In terms of data, the PMI Manufacturing Index for the United Kingdom came in at 54.3, which is below the downwardly revised 56.9 from July. The final August PMI for the broader eurozone came in at 55.1, which is down from 56.7 in July. In addition to the strong gains currently sported by Europe's major bourses, the euro is up a sharp 1.2% against the U.S. dollar. That makes for the euro's best single-session move in more than a month.

Japan's yen remains strong, though it is off of its session high. The currency currently trades 0.2% higher at 84 yen per dollar -- still within striking distance of its 15-year high of 83.6 yen per dollar, which was set just last week. As for Japan's stock market, the Nikkei, it advanced 1.2% overnight. Fanuc LTD was a primary leader. Terumo and Kyocera (KYO) also provided strong support. Hong Kong's Hang Seng swung to a 0.4% gain last night. It was led by consumer staples stocks, which spiked 3.9%. HSBC (HBC) showed considerable strength on an individual level, but the broader financial sector performed in line with the overall market. Mainland China's Shanghai Composite failed to benefit from overnight buying. It slipped to a 0.6% loss as participants engaged in a broad-based selling effort. PetroChina (PTR) was a primary source of weakness. However, banking stocks and insurers found favor. As for data, China's PMI Manufacturing Index for August came in at 51.7, which is up just a bit from the 51.2 that was posted in July.

08:30 am : S&P futures vs fair value: +14.20. Nasdaq futures vs fair value: +27.00. Stock futures continue to sport a strong lead over fair value after recovering from a modest pullback. The recent dip and subsequent recovery follows a disappointing ADP Employment Change report for August. The report indicated that private payrolls fell 10,000 last month, when an increase of 13,000 had been expected among a sample of economists polled by Briefing.com. Private payrolls for the prior month were revised downward to reflect an increase of 37,000 payrolls. Meanwhile, the dollar has slipped to a fresh morning low, where it now trades with a 1.0% loss against competing currencies.

08:00 am : S&P futures vs fair value: +12.50. Nasdaq futures vs fair value: +24.20. Upbeat data out of Asia and Europe have helped overseas markets put together strong gains. That has propped up stock futures ahead of the ADP Employment Change report for August. The report is due at 8:15 AM ET and will provide a glimpse into the always-pivotal official nonfarm payrolls report, which will be issued on Friday. Uncertainty ahead of that report has brought about cautious trading in recent sessions. In turn, this morning's strength reflects the market's need for reassuring data. The bid comes after the S&P 500 fell in six of the past nine sessions for a cumulative loss of about 4%. Market participants should also be on the lookout for the August ISM Manufacturing Index and July construction spending figures -- both reports are due at 10:00 AM ET. Monthly vehicle sales data will be released intermittently throughout the day.

06:55 am : S&P futures vs fair value: +11.7. Nasdaq futures vs fair value: +24.00.

06:54 am : Nikkei...8927.02...+103.00...+1.20%. Hang Seng...20623.83...+87.30...+0.40%.

06:54 am : FTSE...5297.88...+72.70...+1.40%. DAX...5983.81...+58.30...+1.00%.

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

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

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