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=617

click on the below image to view normal size

Trade Performance for Today: +3.90 points or $390 dollars in the ICE Russell 2000 Emini TF ($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.

Stocks End Higher After Light Trading Day

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By CNNMoney.com staff
September 9, 2010: 4:30 PM ET

NEW YORK (CNNMoney.com) -- Stocks posted tepid gains, down slightly from their earlier rally Thursday as investors mulled over better-than-expected reports on the U.S. trade deficit and weekly jobless claims.

At the closing bell, the S&P 500 (SPX) was up 5 points, or 0.5%, to 1,104, the Nasdaq (COMP) Composite climbed 7 points, or 0.3%, to 2,236, and the Dow Jones industrial average (INDU) rose 28 points, or 0.3%, to 10,415.

Earlier in the session, the Dow had gained as much as 51 points.

All three major indexes started the month with a bang following a series of stronger-than-expected economic reports. But this week, trading has been a bit shaky, with little on the docket to push stocks forward.

Trading volume is 30% below the 3-month moving average, which is not unusual for the shortened holiday week following Labor Day. Nevertheless, that lackluster volume means none of this week's stock market moves amount to much, said Art Hogan, chief market strategist at Jefferies & Co.

"Whatever happens, it doesn't clarify anything in investor's minds. We will have to wait until next week," he said. "That said, it's intriguing that as early as two weeks ago the economic calendar was working in the wrong direction. All we could talk about was a double dip. That has gone the way of the dodo bird now."

Stocks closed higher Wednesday as worries about European banks eased, and investors welcomed President Obama's $350 billion jobs recovery plan.

Economy: The Labor Department's weekly report on initial jobless claims showed that 451,000 first-time claims for unemployment benefits were filed in the week ended Sept. 4. This was significantly less that consensus forecast from Briefing.com of 470,000.

The latest figure was down 27,000 from an upwardly revised 478,000 in the previous week.

Also, the Commerce Department reported that the U.S. trade deficit slipped to $42.8 billion in July, sharply lower than the Briefing.com consensus forecast of a $47.3 billion deficit. It also marks a decline from the slightly revised deficit of $49.8 billion for the prior month.

BWF Financial analyst Hamed Khorsand said the jobless claims number was a bigger driver than the trade figures. "Even though employment is really a lagging indicator of the economy, it's gotten to a point where it's now setting the sentiment," he said.

Companies: Shares of Adobe Systems (ADBE) surged more than 12% after Apple (AAPL, Fortune 500) said it will drop restrictions on what programming tools developers can use to create iOS apps. Shares of Apple rose 0.6% after the news.

McDonalds (MCD, Fortune 500) said its global same-store sales rose 4.9% in August, boosted by its sales of smoothies and frappes. But the sales increase fell short of economists' forecasts and shares of the fast-food giant fell 2.3% on the news.

Goldman Sachs (GS, Fortune 500) rose 1.1% after Britain's Financial Services Authority said the firm agreed to pay a $27 million fine for not disclosing a U.S. government investigation into the the allegedly fraudulent activity of Fabrice Tourre, a London-based Goldman trader.

* U.S. losing competitive edge

World markets: European shares rose. Both the CAC 40 in France and Britain's FTSE added 1.2%, and the DAX in Germany gained 0.9%.

Asian markets ended mixed. Japan's benchmark Nikkei index rose 0.8%, and the Hang Seng in Hong Kong edged up 0.4%. The Shanghai Composite tumbled 1.4%.

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

Oil futures for October delivery fell 42 cents to settle at $74.25 a barrel.

Gold for December delivery fell $6.60 to settle at $1,250.90 an ounce.

Bonds: The yield on the 10-year Treasury note rose to 2.76%, from 2.65% late Wednesday.



Yahoo! Finance

4:30 pm : Solid gains overseas and a smaller-than-expected weekly jobless claims count helped stocks start the session on a strong note, but sellers applied pressure in early afternoon action. Near-term technical support provided a springboard so stocks could reclaim some of their gains, but the rebound faded into the close.

Initial strength stemmed from strong gains overseas, excluding the Shanghai Composite (-1.4%). Japan's Nikkei advanced 0.8% and Hong Kong's Hang Seng climbed 0.4%, while Germany's DAX advanced 0.9%, France's CAC climbed 1.2%, and Britain's FTSE finished with a 1.2% gain. Little was made of news that the Bank of England kept its target interest rate at 0.5%, as expected, but news that the trade deficit for the United Kingdom grew to record levels in July put pressure on the British pound. The pound pared its loss to finish just 0.2% below the greenback, though.

Initial jobless claims for the week ended September 4 totaled 451,000, which is down 27,000 week-over-week and less than the 470,000 claims that had been expected, on average, among economists polled by Briefing.com. Continuing claims came in at 4.48 million, but that was a greater tally than the 4.45 million that had been widely expected. Continuing claims were essentially unchanged week-over-week.

As for other data, the U.S. trade deficit for July improved to $42.8 billion from $49.8 billion. It was widely expected to come in at $47.3 billion.

The generally positive data and the strength of overseas markets motivated morning participants to send stocks to a gain of little more than 1%, but the S&P 500 was unable to push past the 1110 line.

Stocks spent a couple of hours drifting along session highs, before news that Deutsche Bank (DB 59.99, -1.97) may issue stock to raise capital induced selling. The S&P 500 saw its gain more than halved, but near-term support at the 1102 line kept the stock market from extending its slide. Support there helped stocks rebound, but the bounce lost momentum shortly ahead of the close.

Though the Deustche Bank headline should not come as a surprise, given lingering concerns about the health of European banks and that new regulatory requirements are expected with the release of Basel III, it was enough to cut into the financial sector. Financial stocks saw a 2% gain more than halved before they settled with a 1.2% gain.

Part of the sector's resilience is owed to positive momentum among domestic bank stocks. Their strength in recent sessions has the KBW Bank Index up about 9% since setting a 2010 intraday low just seven sessions ago.

In contrast to continued gains among bank stocks, the winning streak among steel stocks was snapped with a 1.6% loss. Prior to this session's slide, steel stocks in the S&P 500 had climbed in six straight sessions for a cumulative gain of nearly 12%. Weakness among steel stocks this session undercut the materials sector, which finished with a 0.3% loss. It was the only major sector that failed to stage a gain.

Though the broader market lost some of its direction into the close, it still held on for its sixth gain in seven sessions. Participation in that time has been paltry, however. In fact, trading volume on the NYSE has failed to break 1 billion shares in each of the past five sessions.

Strength among stocks continues to weigh on Treasuries. Lackluster results from an auction of 30-year Bonds could not change that. The auction drew a bid-to-cover of 2.7 and dollar demand of $35.5 billion. The indirect bidder participation rate was 36.1%. An average of the past six auctions produced a bid-to-cover of 2.8, dollar demand of $39.0 billion, and indirect bidder participation of 35.4%.

Advancing Sectors: Financials (+1.2%), Telecom (+1.2%), Health Care (+1.2%), Utilities (+0.7%), Consumer Staples (+0.3%), Tech (+0.2%), Energy (+0.2%), Industrials (+0.1%), Consumer Discretionary (+0.1%)
Declining Sectors: Materials (-0.3%)DJ30 +28.23 NASDAQ +7.33 NQ100 +0.3% R2K +0.1% SP400 +0.2% SP500 +5.31 NASDAQ Adv/Vol/Dec 1385/1.17 bln/1182 NYSE Adv/Vol/Dec 1862/837 mln/1133

3:30 pm : Grains were the largest advancing sector today, posting a 1.8% advance, led higher by a 3.8% move in Dec wheat futures, which settled at $7.38 per bushel.

Oct crude oil shed 0.6% to settle at $74.25 per barrel after giving back all of its morning gains. A pull back in the equity markets, as well as a bounce in the dollar index, pushed crude oil lower. Oct natural gas shed 0.9% to end at $3.78 per MMBtu. It sold off, following inventory data, to put in session lows at $3.703, but bounced off those lows to recoup most of its losses.

Dec gold ended lower by 0.7% to $1250.90 per ounce, while Dec silver shed 0.9% to settle at $19.86 per ounce. Both metals sold off shortly after the open of the equity markets and were unsuccessful in attempting to retrace their respective sell-offs. DJ30 +40.30 NASDAQ +9.74 SP500 +6.96 NASDAQ Adv/Vol/Dec 1358/1.4 bln/1182 NYSE Adv/Vol/Dec 1914/577.7 mln/1052

3:00 pm : Stocks have reclaimed a couple of points, but they remain well off of the levels that they saw earlier this session. Despite their pullback, stocks are still on track for their sixth gain in seven sessions.

With the stock market's recent uptick, Treasuries have dropped to fresh session lows. As such, the benchmark 10-year Note is now down nearly one full point.

Trading volume remains paltry. More directly, little more than a half billion shares have exchanged hands on the NYSE, so far, and only an hour of trade remains in this session. At the current pace of trade, this session will likely go down as one of the most thinly traded days of the year. DJ30 +35.72 NASDAQ +8.79 SP500 +6.21 NASDAQ Adv/Vol/Dec 1217/1.29 mln/1312 NYSE Adv/Vol/Dec 1766/534 mln/1196

2:30 pm : The S&P 500 continues to chop along the 1102 line, which has offered stocks near-term support since surrendering a chunk of their headlines earlier this afternoon.

Telecom stocks are now this session's best performers. As a group they are up 1.2%. With a 1.1% gain, health care stocks aren't far behind.

Financials were early leaders. The sector had been up about 2% at its session high, but they have since pulled back to trade with a 0.7% gain, which actually marks a session low for the sector.

Still, materials stocks are in the worst shape this session. Specifically, the sector is currently grappling with a 0.6% loss. DJ30 +10.74 NASDAQ +3.24 SP500 +3.52 NASDAQ Adv/Vol/Dec 1139/1.19 bln/1393 NYSE Adv/Vol/Dec 1565/494 mln/1375

2:00 pm : The major equity averages have seen a sizable midday pullback, which has erased the majority of the day's early gains. As previously mentioned, the equity averages saw a quick dip following news stories that Deutsche Bank (DB 60.10, -1.86) is considering a stock offering. The proceeds are expected to be used to increase the bank's stake in German Retail bank Postbank and to bolster capital levels ahead of new regulatory requirements expected in next week's release of Basel III.

The idea that European banks may be raising capital soon is not a new one, but after the recent run in the broader market the headlines are providing a near-term catalyst for some selling.

While it has been an active session, volume remains light. Some of that may be due to the observance of Rosh Hashana. DJ30 +6.09 NASDAQ +3.61 SP500 +3.41 NASDAQ Adv/Vol/Dec 1195/1.11 bln/1303 NYSE Adv/Vol/Dec 1599/453 mln/1332

1:30 pm : The S&P 500's recent pullback has become more pronounced, but it has found support at the 1102 line.

Despite the stock market's downturn, Treasuries remain under pressure. Results from an auction of 30-year Bonds haven't helped. The auction drew a bid-to-cover of 2.7 and dollar demand of $35.5 billion. The indirect bidder participation rate was 36.1%. In the previous auction, the bid-to-cover came in at 2.8 and dollar demand was $44.3 billion, while indirect bidder participation was 46.0%. An average of the past six auctions holds a bid-to-cover of 2.8, dollar demand of $39.0 billion, and indirect bidder participation of 35.4%.DJ30 +17.40 NASDAQ +6.74 SP500 +4.75 NASDAQ Adv/Vol/Dec 1277/1.02 bln/1200 NYSE Adv/Vol/Dec 1689/415 mln/1240

1:00 pm : A smaller-than-expected weekly jobless claims count and renewed support for financial stocks have the broader market up for the sixth time in seven sessions, though gains have faded a bit in recent trade.

Early morning support for stocks stemmed from solid gains in Europe. Markets there had a muted reaction to news that the trade deficit for the United Kingdom grew to record levels in July, but the British pound was hit with selling. The pound has since rebounded to trade with a slight loss against the dollar. Little has been made of news that the Bank of England kept its target interest rate at 0.5%, as expected.

Support for stocks strengthened with news that initial jobless claims for the week ended September 4 totaled 451,000, which is below both what had been widely expected and what had been recorded for the prior week. Continuing claims were largely unchanged week-over-week, but many had expected them to decline.

Separately, the U.S. trade deficit for July improved to $42.8 billion from $49.8 billion. It was widely expected to come in at $47.3 billion.

Financials have been out in front of the broader market all session, but the sector has pulled back with the recent release of news that Deutsche Bank (DB 59.94, -2.02) may be considering a stock offering, which would prove dilutive to existing shareholders. While the sector is still up 1.1%, its pullback from a 2.0% gain has caused the broader market to slip to afternoon lows.

Although there has been lingering concern about the health of Europe's major banks, domestic bank shares have been among the best performers in recent sessions. As such, the KBW Bank Index is up another 1.5% this session. That gives it a gain of more than 9% since setting a 2010 intraday low at the end of August.

In contrast to the prior session, some defensive-oriented stocks have put together big gains of their own. In particular, telecom stocks and health care stocks are up 1.1%.

Treasuries have been under pressure, though. Specifically, the benchmark 10-year Note is down 20 ticks and the 30-year Bond is down more than a full point. Results from an auction of 30-year Bonds are due at any moment. DJ30 +34.70 NASDAQ +12.71 SP500 +6.51 NASDAQ Adv/Vol/Dec 1518/925 mln/948 NYSE Adv/Vol/Dec 1887/370 mln/1028

12:30 pm : The S&P 500 is moving sideways, just a couple of points below its session high. The steady crawl has kept intact the solid gains of the stock market's underlying sectors.

Though stocks remain in strong shape, commodities have come down. As a result, the CRB Commodity Index is now flat. Oil prices have had their gains more than halved so that the commodity now trades at $75 per barrel. As for natural gas, it was last quoted with a 2.3% loss at $3.73 per MMBtu. As for precious metals, gold prices are down 0.9% to $1245.40 per ounce and silver is down 0.7% to $19.83 per ounce. DJ30 +66.22 NASDAQ +18.17 SP500 +9.77 NASDAQ Adv/Vol/Dec 1674/915 mln/768 NYSE Adv/Vol/Dec 2139/325 mln/757

12:00 pm : The materials sector has retreated to a 0.1% loss. It had been up with a solid gain in the early going, but the likes of U.S. Steel (X 46.74, -1.35) and AK Steel (AKS 14.09, -0.31) have undermined the space as they run into selling following a streak of strong performances in recent sessions. Dow component Alcoa (AA 11.26, +0.19) remains in strong shape, though.

Every other major sector remains in positive territory. Financials still sport the biggest gains -- they are collectively up 1.7%. DJ30 +63.53 NASDAQ +16.74 SP500 +9.22 NASDAQ Adv/Vol/Dec 1669/737 mln/778 NYSE Adv/Vol/Dec 2098/298 mln/768

11:30 am : Airline stocks are lagging this session. Specifically, the Amex Airline Index is flat. Among the weaker components is UAL Corp (UAUA 21.23, -0.83), which reported this morning that its total consolidated revenue passenger miles increased 2.5% in August.

Transportation stocks also trail the broader market. As such, the Dow Jones Transportation Index is up just 0.1% at the moment. Within the Index, FedEx (FDX 84.96, +1.15) has garnered support, but UPS (UPS 67.60, +0.04) has had a lackluster showing. DJ30 +69.93 NASDAQ +15.70 SP500 +9.92 NASDAQ Adv/Vol/Dec 1664/626 mln/756 NYSE Adv/Vol/Dec 2119/264 mln/716

11:00 am : Crude oil prices continue to sport solid gains with the release of oil inventory data for the week ended September 3. The data, which was just released, showed a draw of 1.85 million barrels, which contrasts with the consensus call for a build of 1 million barrels. Oil prices are currently up 1.4% to $75.70 per barrel. Oil's high for the session stands just shy of $75.90 per barrel.

Energy stocks are off of their session highs. They had been up about 1.3% at their best levels, but they are now up 0.9%.

The broader market has also drifted off of its session high, though overall gains remain impressive. DJ30 +55.55 NASDAQ +12.07 SP500 +8.63 NASDAQ Adv/Vol/Dec 1602/528 mln/777 NYSE Adv/Vol/Dec 2031/223 mln/773

10:30 am : Weakness in the dollar index combined with broad market strength is providing upside in most of the energy markets this morning. Precious metals are mixed. In the CRB Commodity Index, 10 out of the basket of 19 commodities are in positive territory.

October natural gas has been rather volatile since around 7:00am ET. Natural gas hit new session lows of $3.78 per MMBtu a couple of hours ago, but was trading just above the unchanged line ahead of inventory data. Following the data, which showed a build of 58 bcf versus consensus of a build of 57 bcf, natural gas saw little reaction and is currently just under the flat line at $3.79 per MMBtu.

October crude oil has been in positive territory since the overnight session and hit morning highs of $75.86 per barrel at the open of pit trading. Currently, crude is just off those levels and is 1.3% higher at $75.66 per barrel ahead of inventory, which will be released at 11:00am ET. Consensus is calling for a build of 1.0 million barrels.

Precious metals are mixed this morning. After hitting a 9-week high in trade yesterday, December gold is barely in the red at $1256.60 per ounce. December silver is modestly higher this morning after hitting levels yesterday not seen since July 2008. Currently, silver is just above the unchanged line at $20.04 per ounce.DJ30 52.67 NASDAQ +14.68 SP500 +8.46 NASDAQ Adv/Vol/Dec 1647/373.6/649 NYSE Adv/Vol/Dec 2100/166.7 mln/657

10:00 am : Stocks continue to sport strong gains in the opening minutes of trade, but the S&P 500 has paused near the 1110 line, which hasn't been seen in almost one month. The S&P 500 is now up almost 7% since its August low little over two weeks ago.

Strength among stocks has caused volatility to cool, such that the Volatility Index is down nearly 4%.

With stocks up and volatility down, Treasuries have run into selling. In turn, the benchmark 10-year Note is down 14 ticks and the 30-year Bond is down one full point. Results from an auction of 30-year Bonds are due at 1:00 PM ET.

Advancing Sectors: Financials (+1.9%), Energy (+1.3%), Telecom (+1.0%), Tech (+0.8%), Health Care (+0.8%), Industrials (+0.8%), Utilities (+0.8%), Consumer Discretionary (+0.6%), Materials (+0.5%), Consumer Staples (+0.6%)
Declining Sectors: (None)DJ30 +74.92 NASDAQ +18.42 SP500 +11.02 NASDAQ Adv/Vol/Dec 1749/236 mln/461 NYSE Adv/Vol/Dec 2292/111 mln/409

09:45 am : Financials have jumped out ahead of the broader market for the second straight session. As a group, financials are already up 1.6%. Bank plays are particularly strong, such that the KBW Bank Index is up 2.2%, which comes on top of the 1.7% gain that the Bank Index booked in the prior session.

Defensive-oriented consumer staples stocks are lagging in the early going. The sector is up a solid 0.4%, but that's still less than half of what the broader market has put together. Tobacco plays like Altria Group (MO 23.54, +0.09) and Philip Morris International (PM 53.61, -0.04) are among the weaker performers in the consumer staples sector. DJ30 +73.33 NASDAQ +19.48 SP500 +10.65 NASDAQ Adv/Vol/Dec 1795/134 mln/357 NYSE Adv/Vol/Dec 2327/74 mln/326

09:15 am : S&P futures vs fair value: +12.50. Nasdaq futures vs fair value: +16.20. A smaller-than-expected weekly jobless claims count has helped prop up stock futures so that a strong start to the session looks to be in order. News of a smaller-than-expected trade deficit for July didn't cause much of a buzz among premarket participants. In contrast, a record trade deficit for the United Kingdom put pressure on the British pound, though the currency has since pared its loss against the dollar. Little was made of news that the Bank of England kept its target interest rate at 0.5%, as expected. Still on the agenda are weekly natural gas inventory data (10:30 AM ET), weekly oil inventory figures (11:00 AM ET), and results from an auction of 30-year Bonds (1:00 PM ET). Corporate announcements up to this point have generally been inconsequential.

09:00 am : S&P futures vs fair value: +9.40. Nasdaq futures vs fair value: +12.50. Better-than-expected weekly jobless claims out of the U.S. have helped drive Germany's DAX extend its gain to 0.8%. Little was made of news that Germany's CPI for August increased 1.0%, just as it did in July. Daimler (DAI) is a leader for the third straight session. It has gained more than 4% during that time. In France, the CAC is up 1.1% as financials rebound from their recent slide. BNP Paribas and Societe Generale are out in front at the moment. In similar fashion, banks like HSBC (HBC) and Barclays (BCS) have boosted Britain's FTSE to a 1.1% gain. Mining plays Rio Tinto (RTP) and BHP Billiton (BHP) have also bolstered action. The British pound is under pressure, though. Its weakness follows news that the trade deficit in the United Kingdom totaled a record 8.7 billion pounds in July. No real reaction was made to news that the Bank of England maintained its target lending rate of 0.5% and kept intact its asset purchase program.

In Asia, Japan's Nikkei advanced 0.8%. It was led by Trend Micro and Softbank. Kyocera (KYO) also contributed to the advance. As for data, consumer confidence in the country slipped to 42.5 in August from 43.4 in July. Mainland China's Shanghai Composite closed 1.4% lower. It was led lower by energy giants PetroChina (PTR) and China Petroleum (SNP). Industrial & Commercial Bank was a laggard, too. In contrast, Industrial & Commercial Bank was a leader in Hong Kong's Hang Seng, which advanced 0.4%. China Construction Bank was also strong, as was CNOOC. China Mobile was a drag, though.

08:35 am : S&P futures vs fair value: +9.50. Nasdaq futures vs fair value: +14.80. The latest dose of data has sent stock futures to morning highs. Among the items issued, initial jobless claims for the week ended September 4 totaled 451,000, which is less than the 470,000 claims that had been expected, on average, among economists polled by Briefing.com. The latest initial claims count is also down from the upwardly revised total of 478,000 in the prior week. As for continuing claims, they came in at 4.48 million, which is above the 4.45 million that had been widely expected. Continuing claims for the prior week were revised higher to 4.48 million. Separately, the trade deficit for July improved to 42.8 billion from $49.8 billion. It was widely expected to come in at $47.3 billion.

08:00 am : S&P futures vs fair value: +4.50. Nasdaq futures vs fair value: +7.20. Momentum from the prior session's advance has given a lift to stock futures, such that a solid start currently looks to be in order. Premarket trade has also been helped by continued strength among Europe's major bourses. As for the euro, it currently trails the dollar by a narrow margin, but the yen is up 0.2% after pulling back from a fresh 15-year high against the greenback in the prior session. The pound has dropped to a 0.5% loss against the dollar following news that the United Kingdom's trade deficit was greater than expected in July. Little reaction was made to news that the Bank of England kept its target interest rate at 0.5%. The latest weekly jobless claims count is due at 8:30 AM ET, along with the trade balance for July. Weekly natural gas inventory data are due at 10:30 AM ET, followed by weekly oil inventory data at 11:00 AM ET. Results from an auction of 30-year Bonds are due at 1:00 PM ET.

06:55 am : S&P futures vs fair value: +5.20. Nasdaq futures vs fair value: +6.50.

06:55 am : Nikkei...9098.39...+73.80...+0.80%. Hang Seng...21167.27...+78.40...+0.40%.

06:55 am : FTSE...5472.11...+42.30...+0.80%. DAX...6192.80...+28.40...+0.50%.

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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