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)


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

Price Action Trade Performance for Today: +13.40 points or $1340 dollars in the Russell 2000 Emini TF ($TF_F) Futures.
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.

In addition, all trades were posted real-time in the free #FuturesTrades chat room. You can read today's #FuturesTrades trading chat room logs for details (e.g. time, price, contract size) about each one of my trades from entry to exit along with price action commentary as the trade traversed in comparison to what's shown in the above image...all archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=104&t=1219.

To join our free chat room...log-in instructions located at a different forum @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=5&t=630

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).

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

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 prior to purchasing the Volatility Trading Report (VTR).

Trading Plan Daily Routine @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=152&t=1459

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Market Summaries

The below summaries by Bloomberg, CNNMoney and Yahoo! Finance helps me to do a quick review of the fundamentals, FED/ECB/IMF actions or any important global economic events that had an impact on today's price action. Simply, I'm a strong believer that many variables (key market events) causes key changes in supply/demand and volatility that results in swing points and strong continuation price actions. Thus, I pay attention to these key market events from one trade to the next trade to give me the market context for my technical analysis. Just as important, these summaries becomes my archives to allow me to understand what was happening on any given trading day in the past...something I can not get from my broker statements alone.

U.S. Stocks End Mixed Amid Europe uncertainty


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

NEW YORK (CNNMoney) -- U.S. stocks ended mixed Thursday afternoon as investors welcomed a slight dip in jobless claims but remained cautious amid ongoing uncertainty in Greece and the rest of Europe.

"The situation in Europe remains fluid, and we're not likely to get much clarity for awhile, so today is one of those days when a lack of really bad news is good news," said Michael Sheldon, chief market strategist at RDM Financial Group.

The Dow Jones industrial average (INDU) rose 20 points, or 0.2%, snapping a six-day losing streak, and the S&P 500 (SPX) added 3 points, or 0.3%. The tech-heavy Nasdaq (COMP) lost 1 point.

Cisco (CSCO, Fortune 500) was the biggest laggard on all three indexes, with shares tumbling more than 10%. Late Wednesday, the networking giant released a disappointing sales outlook for the current quarter.

Europe remains in the spotlight Thursday as Greek politicians continue to struggle to form a coalition government and Spanish bond yields keep rising.

After the Greek radical left party failed to gain consensus, Socialist leader Evangelos Venizelos was given the mandate to form a coalition government by the Greek president on Thursday.
Greece will muddle through

Meanwhile, the Bank of Spain moved to take over Bankia -- one of Spain's largest and most troubled banks -- late Wednesday.

U.S. stocks bounced back somewhat from a sharp sell-off Wednesday, but all three major indexes closed in the red as investors continued to fret about Greece and Spain.

World markets: European stocks closed with slim gains. Britain's FTSE 100 (UKX) ticked up 0.3%, DAX (DAX) in Germany gained 0.7%, while France's CAC 40 (CAC40) rose 0.4%.

The Bank of England held its key interest rate steady and did not increase its asset-buying program at the conclusion of its two-day meeting Thursday, despite a recent report that showed the U.K. has fallen into a new recession.

Asian markets ended mixed. The Shanghai Composite (SHCOMP) closed 0.1% higher, while the Hang Seng (HSI) in Hong Kong slid 0.5% and Japan's Nikkei (N225) edged lower 0.4%.

China reported import and export growth that was slower than expected, according to forecasts from economists at HSBC. The report could stir new concerns from investors around the globe about a so-called hard landing for China's economy, but HSBC said it is also likely to prompt further monetary policy easing by the People's Bank of China.
0:00 /1:55Sick of Spain and the other PIIGS? Too bad

Economy: The number of people filing for first-time unemployment benefits in the U.S. fell 1,000 to 367,000 in the latest week. Economists surveyed by Briefing.com had expected the report to show 365,000 claims.

The U.S. trade deficit widened to $51.8 billion in March from $45.5 billion in February, according to the Commerce Department. The deficit was narrower than the $53 billion economists had expected.

The Treasury Department on Thursday recorded a $59 billion surplus for the month of May, marking the first time in more than three years that Washington took in more money than it paid out. Tax receipts were higher and spending lower than they were last April.

Companies: Beauty products company Avon (AVP, Fortune 500) said that perfume-maker Coty raised its unsolicited bid for the company to $24.75 a share from its earlier offer of $23.25. Avon's board said it will consider the offer. Shares of Avon declined.
Avon: Coty's back with a higher bid

Department store chain Kohl's (KSS, Fortune 500) reported earnings per share of 63 cents, down from 69 cents a year earlier but still better than the forecast of 61 cents from analysts surveyed by Thomson Reuters. But the company gave earnings guidance for the current quarter that was below current forecasts, sending shares lower.

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

Oil for June delivery gained 27 cents to settle at $97.08 a barrel.

Gold futures for June delivery rose $1.30 to settle at $1,595.50 an ounce.

Bonds: The price on the benchmark 10-year U.S. Treasury fell, pushing the yield up to 1.88% from 1.84% late Wednesday.



Market Update

4:10 pm : The Dow avoided its seventh consecutive day of losses after withstanding some late-day selling to finish with a gain of 20 points. The S&P 500 closed up 0.3% to lead the way while the Nasdaq finished fractionally in the red. News flow out of Europe was rather quiet as markets await word as to whether or not the newly elected Greek leaders are able to form a coalition government. This morning’s claims data was mixed as initial claims missed estimates while continuing claims beat.

European financials recorded strong gains as National Bank of Greece (NBG 2.05, +0.15) and Banco Santander (STD 6.33, +0.32) rallied 7.9% and 5.3% respectively. Germany's Deutsche Bank (DB 40.30, +0.90) and Britain's Barclays (BCS 13.47, +0.41) saw less notable advances, but still outperformed.

Cisco Systems (CSCO 16.81, -1.97) plunged 10.5% following yesterday's earnings. The company announced earnings per share of $0.48 which was $0.01 better than the Capital IQ Consensus Estimate while posting in-line revenues of $11.59 billion. The company now expects to see earnings per share of $0.44 to $0.46 per share on expectations of $0.49 and revenue growth of 2% to 5% versus consensus expectations of a 7.1% increase. Macro headwinds were given as reasons for the downbeat outlook.

Shares of Priceline (PCLN 681.11, -37.84) tumbled 5.3% following yesterday's better than expected earnings as guidance was disappointing. The company announced earnings of $4.28 per share which was $0.30 better than the Capital IQ Consensus Estimate, and in-line revenues of $1.04 billion. Guidance weighed as the company said it expects revenues to increase 18 to 23% year over year, compared with analyst expectations of a 26% increase.

Kohl's (KSS 48.66, -2.20) fell 4.3% after the company reported earnings of $0.63 per share which was $0.02 better than the Capital IQ Consensus Estimate. The company's revenues were in-line with estimates, climbing 1.9% year over year to $4.24 billion. Management also reaffirmed its fiscal year 2013 earnings per share guidance of $4.75 which is $0.01 below the consensus estimate of $4.76. However, the stock weakened as the company's gross margins disappointed.

Treasuries trimmed their losses following this afternoon's solid $16 billion 30-yr bind reopening. The auction drew 3.090% and saw a 2.73x bid/cover as indirect bidders took down a larger than average 33.8% of the offering. Dollar demand was the strongest since August 2010, coming in at $43.6 billion. The 10-yr yield finished the day up 4.9 basis points at 1.884% after hitting a session high of 1.921%.

Volume on the floor of the New York Stock Exchange was weak as just 784 million shares changed hands.DJ30 +19.98 NASDAQ -1.07 SP500 +3.41 NASDAQ Adv/Vol/Dec 1437/1.93 bln/1128 NYSE Adv/Vol/Dec 1893/784.1 mln/1128

3:30 pm : Crude oil dipped into negative territory in morning early trade, but found enough support to push above the unchanged line ahead of the close. The energy component settled pit trade with a 0.3% gain at $97.11 per barrel, marking the first positive close in seven sessions. Natural gas popped on inventory data that came out in-line with expectations. However, it quickly dropped into the red to a session low $2.41 per MMBtu. Despite some volatility, natural gas recovered its losses and finished pit trade with a 1.2% gain at $2.49 per MMBtu. This marks a 24.5% gain from its recent low set on April 19.

Gold and silver came off their morning pit lows in response to a weaker dollar, climbing to their respective session highs of $1602.20 per ounce and $29.45 per ounce. However, the precious metals retreated towards their breakeven lines where they chopped around for the remainder of pit trade. Gold finished in positive territory for the first time this week, posting a modest gain of 0.1% at $1595.50 per ounce. Meanwhile, silver finished at $29.20 per ounce, or 0.2% lower.

This morning, the USDA released its May WASDE report, which was the first monthly report for the new 2012/13 crop year. Inventory data was bearish as the expected ending stocks (inventory levels) of 1.881 billion bushels for the fiscal 2012/13 crop season combined with the increased 2011/12 expected corn inventory levels of 851 million bushels (from 801 million) weighed on corn prices. Corn futures under the continuous contract closed pit trade down 3.0% at $5.88 per bushel.DJ30 +36.33 NASDAQ +2.49 SP500 +5.32 NASDAQ Adv/Vol/Dec 1494/1.60 bln/986 NYSE Adv/Vol/Dec 2027/535.0 mln/1007

3:00 pm : Treasuries ended well off their worst levels of the session after this afternoon’s $16 billion 30-yr bond reopening sparked some late-day buying. The auction drew 3.090% and saw a 2.73x bid/cover as indirect bidders took down a larger than average 33.8% of the offering. Dollar demand was the strongest since August 2010, coming in at $43.6 billion. Weakness ahead of the reopening saw the long bond fall one and a half points to a session low of 100 9/32, but the solid results trimmed losses as the 30-yr closed down 15/32. Meanwhile, the 10-yr closed down 9/32 and saw its yield settle at 1.884%. The early selling saw the benchmark yield hit a session high of 1.921% which is more than 12 basis points above yesterday’s session low print. Selling swung the yield curve steeper as the 2-10-yr spread widened to 163 basis points. DJ30 +39.01 NASDAQ +3.29 SP500 +5.56 NASDAQ Adv/Vol/Dec 1506/1.47 bln/966 NYSE Adv/Vol/Dec 2038/487.2 mln/978

2:30 pm : Stocks hold modest gains as they attempt to push back to their morning highs. A gain of 0.5% has the S&P 500 leading the way while the Dow and Nasdaq trail with respective gains of 0.4% and 0.2%.

Kohl’s (KSS 49.10, -1.76) is trading down 3.5% after the company reported earnings of $0.63 per share which was $0.02 better than the Capital IQ Consensus Estimate. The company’s revenues were in-line with estimates, climbing 1.9% year over year to $4.24 billion. Management also reaffirmed its fiscal year 2013 earnings per share guidance of $4.75, which is $0.01 below the consensus estimate of $4.76. However, the stock is under pressure after the company’s gross margins disappointed.DJ30 +56.38 NASDAQ +6.36 SP500 +7.56 NASDAQ Adv/Vol/Dec 1537/1.37 bln/913 NYSE Adv/Vol/Dec 2162/449.7 mln/864

2:00 pm : The Treasury budget for April was just released, showing a surplus of $59.1 billion which is better than the $58.0 billion that had been expected, on average, among economists polled by Briefing.com. The prior month’s reading of a $46.0 billion deficit was revised upward to show a deficit of $45.4 billion.DJ30 +48.74 NASDAQ +2.06 SP500 +6.59 NASDAQ Adv/Vol/Dec 1478/1.28 bln/963 NYSE Adv/Vol/Dec 2095/421.2 mln/922

1:35 pm : The market remains within its mid-day range, holding gains of about 0.5%. The S&P 500 is still sitting on an 8% gain for the year, but the tone has turned a bit more cautious amid the recent negative European headlines and more sluggish economic data. While equity market valuations remain attractive, we're entering a seasonally weaker period of the year, which combined with the increased risks in Europe, warrants some caution.

Tonight after the close there are around 40 companies scheduled to report earnings, including Nordstrom (JWN 53.88, -0.04), Express Scripts (ESRX 54.00, +0.10), CA (CA 26.24, -0.11) and Career Education Corp (CECO, 7.02, +0.03). Now 90% of the S&P 500 components have reported their Q1 results, and like recent quarters, about 2/3 of the companies beat earnings estimates, which may have surpassed low expectations for the quarter. Again, about half saw positive price reactions to their reports, but the stronger reports during earnings season failed to outweigh the drag of negative headlines out of Europe and more sluggish U.S. econ data, and the overall market has drifted lower. Earnings season winds down considerably after this week.DJ30 +63.99 NASDAQ +6.37 SP500 +8.42 NASDAQ Adv/Vol/Dec 1561/1.16 bln/878 NYSE Adv/Vol/Dec 2197/383.9 mln/812

1:00 pm : All three of the major averages are trading higher as the S&P 500 leads the advance with a gain 0.6% while the Dow and Nasdaq trail with respective gains of 0.5% and 0.1%.

Cisco Systems (CSCO 17.02, -1.76) is down 9.4% following yesterday’s earnings. The company announced earnings per share of $0.48 which was $0.01 better than the Capital IQ Consensus Estimate while posting in-line revenues of $11.59 billion. The company now expects to see earnings per share of $0.44 to $0.46 per share on expectations of $0.49 and revenue growth of 2% to 5% versus consensus expectations of a 7.1% increase. Macro headwinds were given as reasons for the downbeat outlook.

European markets bounced back after days of heavy selling. Greece’s ASE gained 4.2% for the session while Spain’s IBEX added 3.4% following the Bank of Spain’s nationalization of Bankia. European financials are seeing strong gains here in the U.S. as National Bank of Greece (NBG 2.05, +0.15) and Banco Santander (STD 6.36, +0.35) are up 7.9% and 5.8% respectively. Germany’s Deutsche Bank (DB 40.40, +1.00) and Britain’s Barclays (BCS 13.50, +0.44) are seeing less notable advances, but are still outperforming.

Shares of Priceline (PCLN 687.74, -31.21) are trading down 4.3% following yesterday’s better than expected earnings as guidance was disappointing. The company announced earnings of $4.28 per share which was $0.30 better than the Capital IQ Consensus Estimate, and in-line revenues of $1.04 billion. Guidance weighed as the company said it expects revenues to increase 18 to 23% year over year, compared with analyst expectations of a 26% increase.

Treasuries remain trapped near session lows with today's selling pushing the 10-yr yield back up to 1.915%. A steeper yield curve has the 2-10-yr spread wider at 163.5 basis points.DJ30 +69.40 NASDAQ +5.69 SP500 +8.56 NASDAQ Adv/Vol/Dec 1539/1.06 bln/875 NYSE Adv/Vol/Dec 2148/352.4 mln/821

12:30 pm : Equities chop around near their post-opening lows as the S&P 500 and Dow trade up 0.4% while the Nasdaq is off 0.2%. Treasuries are under pressure today, forcing longer dated yields up as much as 6.7 basis points. The 10-yr yield is higher by close to 5 basis points at 1.907%. Meanwhile, a flat session for the dollar index has it holding just above the 80.00 level. Commodities are little changed as crude oil sits at $97.10 while gold and silver hold at $1596 and $29.25 respectively.DJ30 +46.55 NASDAQ -4.78 SP500 +5.28 NASDAQ Adv/Vol/Dec 1329/961.3 mln/1054 NYSE Adv/Vol/Dec 1890/321.9 mln/1050

12:00 pm : Treasuries remain near session lows, unable to gain much traction even as equity markets pare their gains. Heavy selling in the long bond has it down 1 4/32 at 100 24/32 as it trades two full points off of yesterday’s highs. Meanwhile, today’s selling has the 10-yr yield more than 10 basis points above yesterday’s lows after the important 1.80% support level held. Current action is seeing the yield up close to five basis points on the session at 1.905%. The yield curve has swung steeper on today’s selloff with the 2-10-yr spread widening to 164 basis points.DJ30 +39.81 NASDAQ -5.30 SP500 +4.62 NASDAQ Adv/Vol/Dec 1344/856.4 mln/1024 NYSE Adv/Vol/Dec 1903/288.9 mln/1034

11:30 am : Equity markets continue to trade mixed as the S&P 500 and Dow are both up 0.3% while the Nasdaq holds a loss of 0.2%.

Shares of Priceline (PCLN 685.00, -33.95) are trading down 4.7% following yesterday’s better than expected earnings as guidance disappointed. The company announced earnings of $4.28 per share which was $0.30 better than the Capital IQ Consensus Estimate, and in-line revenues of $1.04 billion. International operations saw revenues increase 58.5% year over year to $617 million. Guidance weighed as the company said it expects revenues to increase 18 to 23% year over year, compared with analyst expectations of a 26% increase.DJ30 +41.63 NASDAQ -2.88 SP500 +5.03 NASDAQ Adv/Vol/Dec 1336/738.9 mln/986 NYSE Adv/Vol/Dec 1901/247.7 mln/1010

11:00 am : Stocks have slipped off their best levels of the morning as the S&P 500 and Dow are both up 0.2% while the Nasadq trades down 0.2%.

European markets are bouncing back after days of heavy selling. Greece’s ASE gained 6.2% for the session while Spain’s IBEX is trading up 3.4% following the Bank of Spain’s nationalization of Bankia. European financials are seeing strong gains here in the U.S. as National Bank of Greece (NBG 2.04, +0.14) and Banco Santander (STD 6.38, +0.37) are up 7.4% and 6.0% respectively. Germany’s Deutsche Bank (DB 40.45, +1.05) and Britain’s Barclays (BCS 13.51, +0.45) are seeing less notable advances, but are still outperforming. DJ30 +19.22 NASDAQ -7.20 SP500 +2.60 NASDAQ Adv/Vol/Dec 1203/612.7 mln/1089 NYSE Adv/Vol/Dec 1770/205.7 mln/1109

10:35 am : The dollar index lost some steam this morning, which has provided some price support to the commodity complex.

In the energy space, June crude oil found buyers about four hours ago, helping push the commodity up from its session low of $96.08 to the current session high of $ 97.69. In current action, crude is trading +0.2% at $97.00/barrel.

June natural gas ($2.32 +0.04) rallied as high as $2.50 earlier this morning, but has pulled back somewhat in morning activity. The energy component was -0.4% at $2.46/MMBtu ahead of inventory data. Following the data, natural gas popped a few cents to $2.49/MMBtu and is now +0.5% at $2.48/MMBtu.

In metals, June gold and July silver have ticked higher off of morning lows and out of negative territory. Both gold and silver hit new session highs (Gold $1602.20, SIlver $29.45) a short while ago, but have pulled back. Gold is now +0.2% at $1597.40, while silver is +0.3% at $29.33.

In ag, the USDA released the May WASDE report, which was the first monthly report for the new 2012/13 crop year and provided bearish inventory data figures (expects 1.881 bln ending corn stocks (inventory) vs. 851 mln ending stocks from the 2011/12 crop season, also raised this morning from 801 mln). Grain pit opened just now at 10:30 am ET and corn is down 2.2% at $5.94/bushel.DJ30 +69.52 NASDAQ -1.97 SP500 +7.28 NASDAQ Adv/Vol/Dec 1420/445 mln/850 NYSE Adv/Vol/Dec 2017/153 mln/749

10:00 am : The major averages trade at session highs as the early advance is paced by a 0.8% gain in the S&P 500. Menawhile, the Dow and Nasdaq lag behind with respective gains of 0.7% and 0.4%.

Cisco Systems (CSCO 17.24, -1.54) is down 8.2% in early action following yesterday’s earnings. The company announced earnings per share of $0.48 which was $0.01 better than the Capital IQ Consensus Estimate while posting in-line revenues of $11.59 billion. Guidance for the fourth quarter was below expectations for both earnings per share and revenue. The company now expects to see earnings of $0.44 to $0.46 per share on expectations of $0.49, and revenue growth of 2% to 5% versus consensus expectations of a 7.1% increase. Macro headwinds were given as reasons for the downbeat outlook. DJ30 +85.94 NASDAQ +11.82 SP500 +10.59 NASDAQ Adv/Vol/Dec 1588/266.1 mln/613 NYSE Adv/Vol/Dec 2326/100.9 mln/457

09:45 am : The major averages are higher in the opening minutes of trade. A gain of 0.6% has the S&P 500 leading the advance while the Dow and Nasdaq lag with respective gains of 0.4% and 0.2%. Financials are up 1.4% to pace the early strength while health care and consumer discretionary are both higher by 1.0%. Information technology is the only S&P sector in the red, trading down 0.2%.DJ30 +46.55 NASDAQ +4.28 SP500 +7.90 NASDAQ Vol 168.5 mln NYSE Vol 72.3 mln

09:15 am : [BRIEFING.COM] S&P futures vs fair value: +11.40. Nasdaq futures vs fair value: +16.20. Equity futures are at their best levels of the session, and point to strong gains at the open. The major averages will look to end their recent six-day slide, which is their longest since the summer of 2011. Shares of Cisco Systems are in focus today after yesterday's in-line earnings. The stock is down close to 8% in pre-market trade after the company indicated macro headwinds may impact business in the coming quarters.

08:59 am : [BRIEFING.COM] S&P futures vs fair value: +9.20. Nasdaq futures vs fair value: +12.20. Overnight action was mixed in Asia while European bourses are higher in afternoon trade. Despite posting a larger than expected surplus ($18.4 billion), the Chinese trade balance weighed on markets in the region as both imports and exports were below expectations. Meanwhile, European shares are higher in afternoon trade following yesterday’s nationalization of Bankia by the Bank of Spain. The Bank of England opined this morning and kept both its benchmark interest rate and asset purchase programs unchanged at their respective 0.50% and GBP325 billion.

Asian markets (Nikkei -0.4%, Hang Seng -0.5%, Shanghai +0.1%) were mixed after the Chinese trade balance number. Japan’s Nikkei lost 0.4%, but saw outperformance from Toyota Motor (+0.8%) after the company announced better than expected earnings. Hong Kong’s Hang Seng slipped 0.5% as energy giant PetroChina fell 3.2% after Beijing cut fuel prices. Meanwhile, China’s Shanghai Composite eked out a 0.1% gain as brokers outperformed. Huatai Securities added 0.8% as investors moved back into the space following a couple days of selling.

European bourses (FTSE UNCH, CAC +0.1%, DAX +0.7%) are trading near their best level of the session as peripheral indices outperform. Spain’s IBEX is up 3.7% after the nationalization of Bankia while Greece’s ASE is higher by 5.0% thanks to a surge in financials. Britain’s FTSE is flat with silver miner Fresnillo trading up 2.8% after seeing heavy selling in recent trade. Meanwhile, France’s CAC is holding a small gain of 0.1% as automaker Peugeot is higher by 6.4%. Elsewhere, Germany’s DAX is seeing a gain of 0.7% as financials outperform. Deutsche Bank is the top performer in the space, trading up 3.9%.

08:34 am : [BRIEFING.COM] S&P futures vs fair value: +8.00. Nasdaq futures vs fair value: +10.00. Initial jobless claims for the week ended May 5 totaled 367,000, which is more than the tally of 365,000 that had been expected, on average, among economists polled by Briefing.com. What's more, the latest count is down from the upwardly revised 368,000 initial claims recorded for the prior week. As for continuing claims, they declined to 3.229 million from 3.290 million.

Separately, domestic trade data was just released. It showed a deficit of $51.8 billion for March. That's lighter than the $50.2 billion deficit that economists surveyed by Briefing.com had generally expected.

During April import prices decreased by 0.5%. Excluding oil, import prices rose by 0.1% after a 0.5% increase had been experienced in the prior month. Export prices increased by 0.4% in April. Excluding agricultural items, export prices increased by 0.2% after they were up 0.5% in the prior month.

08:00 am : [BRIEFING.COM] S&P futures vs fair value: +7.70. Nasdaq futures vs fair value: +9.80. Futures are trading at their best levels of the session as things in Europe have quieted down for the time being. S&P futures are up seven points with most of those gains coming in the last hour of trade. European shares are higher as notable outperformance can be seen in Spain (+2.2%) after the Bank of Spain nationalized Bankia by taking a 45% stake. Here in the U.S., shares of Cisco Systems are down 6% in pre-market trade despite yesterday’s in-line results after indicating macro concerns may weigh in the coming quarters.

06:20 am : [BRIEFING.COM] S&P futures vs fair value: -0.40. Nasdaq futures vs fair value: -7.00.

06:20 am : Nikkei...9009.65...-35.40...-0.40%. Hang Seng...20227.28...-103.40...-0.50%.

06:20 am : FTSE...5497.39...-32.70...-0.60%. DAX...6454.41...-20.90...-0.30%.

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/bar analysis)
@ http://twitter.com/wrbtrader, http://stocktwits.com/wrbtrader and http://chart.ly/users/wrbtrader

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