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
Business Hours: 8am - 5pm est (Mon - Fri)
questions@thestrategylab.com (24/7)
http://twitter.com/wrbtrader (24/7)


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

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $0.00 dollars or +0.00 points, Emini ES ($ES_F) futures @ $7,562.50 dollars or +151.25 points, Light Crude Oil CL ($CL_F) futures @ $0.00 dollars or +0.00 points, Gold GC ($GC_F) futures @ $0.00 dollars or +0.00 points and EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks. Total Profit @ $7,562.50 dollars

Russell 2000 Emini TF Futures: 1 tick or 0.10 = $10.00 dollars and there's more contract information @ The ICE
S&P 500 Emini ES Futures: 1 tick or 0.25 = $12.50 dollars and there's more contract information @ CMEGroup
Light Crude Oil CL (WTI) Futures: 1 tick or 0.01 = $10.00 dollars and there's more contract information @ CMEGroup
Gold GC Futures: 1 tick or 0.10 = $10.00 dollars and there's more contract information @ CMEGroup
EuroFX 6E Futures: 1 tick or 0.0001 = $12.50 dollars and there's more contract information @ CMEGroup

Trade Log: All of my trades were posted real-time in the timestamp ##TheStrategyLab chat room. You can read today's price action trading information about my trades (e.g. time, price entry, contract size, price exit) as the trade traversed to its completion. Also, sometimes I'll post real-time trading tips in ##TheStrategyLab chat room involving WRBs, WRB Hidden GAPs, Key Market Events (KME), Tutorial Chapters 2 & 3, WRB Zones, Reaction Highs/Lows, Contracting Volatility or Expanding Volatility. Its all archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=139&t=1985


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 chat 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).

Trading Plan Daily Routine @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=255&t=2625

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Market Context Summaries

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


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

4:10 pm: [BRIEFING.COM] The stock market kicked off the holiday-shortened week with a shaky Tuesday session. The S&P 500 settled higher by 0.2% after finding intraday support near its 100-day moving average (2007/2008). The tech-heavy Nasdaq outperformed, climbing 0.4%.

Equity indices started the day with modest gains, but continued weakness in crude oil weighed on the overall risk tolerance and contributed to an early retreat. However, a handful of influential sectors were able to withstand the selling pressure, which in turn became a supportive factor during afternoon action.

As for crude, the energy component retreated after The International Monetary Fund cut its 2015 global growth outlook to 3.0% from 3.5%, and continued sliding throughout the session. WTI crude ended lower by 4.1% at $46.51/bbl while the energy sector (+0.1%) settled near its flat line. On the earnings front, Baker Hughes (BHI 57.26, +0.70) and Halliburton (HAL 39.83, +0.70) posted respective gains of 1.2% and 1.8% in reaction to better than expected results.

Similar to energy, consumer discretionary (-0.6%) and financials (-0.4%) trailed the broader market throughout the day. The financial sector lagged following disappointing results from Morgan Stanley (MS 34.75, -0.14) while discretionary shares were pressured by homebuilders and retailers. The iShares Dow Jones US Home Construction ETF (ITB 24.48, -0.62) and SPDR S&P Retail ETF (XRT 92.23, -1.21) lost 2.5% and 1.3%, respectively. On the upside, Netflix (NFLX 348.80, +11.46) gained 3.4% ahead of its quarterly report.

Elsewhere among influential sectors, health care (-0.1%) pressured the market in the early going following a revenue miss from Johnson & Johnson (JNJ 101.29, -2.75). However, the sector was lifted off its low by the relative strength in the biotech space. The iShares Nasdaq Biotechnology ETF (IBB 323.23, +5.41) gained 1.7% and settled at a fresh record high.

The biotech group also bolstered the Nasdaq and helped the index settle ahead of the broader market. To be sure, the Nasdaq received another measure of support from its top-weighted components, including Apple (AAPL 108.78, +2.79), which spiked 2.6%.

Treasuries notched their highs around 11:00 ET before spending the remainder of the session in a steady retreat. The 10-yr yield ended lower by five basis points at 1.79%.

Participation was a bit above average with more than 840 million shares changing hands at the NYSE floor.

Economic data was limited to the NAHB Housing Market Index for January, which slipped to 57 from a revised 58 (from 57) while the Briefing.com consensus expected the reading to hold at 58.

Tomorrow, the weekly MBA Mortgage Index will be released at 7:00 ET while December Housing Starts (Briefing.com consensus 1.04 million) and Building Permits (consensus 1.06 million) will be reported at 8:30 ET.

Dow Jones Industrial Average -1.7% YTD
Nasdaq Composite -1.7% YTD
S&P 500 -1.8% YTD
Russell 2000 -2.8% YTD

3:40 pm: [BRIEFING.COM]

Natural gas and WTI crude oil futures fall sharply today
WTI crude dropped hard this morning. Buyers attempted to give it some legs, but this didn't hold and crude hit a new LoD near the close of pit trading
Mar crude ultimately finished $1.99 lower at $46.51/barrel
Mar natural gas tanked basically on a continued mild weather outlook.
Mat NG closed $0.30 lower at $2.83/MMBtu
Precious metals rose today, but other industrials metals such as copper declined
Feb gold gained $17.50 to $1293.90/oz today, while Mar silver rose $0.21 to $17.96/oz

3:00 pm: [BRIEFING.COM] The S&P 500 (+0.2%) has made it back into the green while the Nasdaq Composite (+0.6%) is now near its opening high.

Both indices have received a helping hand from biotechnology, evidenced by a 1.6% gain in the iShares Nasdaq Biotechnology ETF (IBB 323.03, +5.21). The ETF has powered to a fresh all-time high while the broader health care sector sits on its flat line. However, Johnson & Johnson (JNJ 100.74, -3.30), which reported below-consensus revenue this morning, continues pressuring the health care sector.

Elsewhere, Treasuries have spent the past four hours in a steady slide from their highs. The 10-yr yield remains lower by three basis points at 1.81%.

2:25 pm: [BRIEFING.COM] Equity indices have inched up from their recent levels with the Nasdaq now up 0.2%.

The tech-heavy index has traded ahead of the broader market since the early going thanks to the outperformance of chipmakers. The PHLX Semiconductor Index (+0.7%) has returned to its opening high while the technology sector (+0.5%) now trades in the top half of today's trading range. The sector remains supported by Apple (AAPL 107.94, +1.95) while most other large cap names also trade in the green.

On the downside, Dow component IBM (IBM 155.66, -1.48) is lower by 0.9% ahead of its quarterly report scheduled for this evening.

2:00 pm: [BRIEFING.COM] The S&P 500 (-0.3%) remains near its rebound high.

The NAHB homebuilders' index fell to 57 in January from an upwardly revised 58 in December.

Since the middle of the 2014, the homebuilders index has moved steadily higher. Normally, improved sentiment in the construction industry should fuel an acceleration in new housing starts. However, that has not happened.

Home construction has been only slightly upward trending in 2014, and the Briefing.com Consensus expects more of the same (1.040 mln vs 1.028 mln in November) in December.

1:30 pm: [BRIEFING.COM] U.S. equities continue to move off session lows with the S&P now down just 0.2% and the Nasdaq in positive territory.

In what is turning out to be a consistent correlation, the energy sector (-0.7%) is lagging as oil drops 4% to just above $47/bbl and natural gas declines 9% to $2.84/btu. On the contrary, select outperformance is being observed in the industrials (+0.4%) and technology (+0.25%) sectors. Separately, shares of Netflix (NFLX 341.86, +4.52) are enjoying a strong day ahead of the company's Q4 earnings report after today's close. Analysts' average estimate calls for ~29% growth y/y in revs to $1.485 bln.

Elsewhere, shares of Office Depot (ODP 7.65, -0.39) have seen a quick drop following a Financial Times story citing sources that suggest Staples (SPLS 16.35, -1.00) will reject the call from activist investor Starboard to merge with Office Depot.

12:55 pm: [BRIEFING.COM] The major averages hover near their lows at midday with small caps pacing the slide. The Russell 2000 has given up 0.8% while the S&P 500 is lower by 0.4% after finding support in the neighborhood of its 100-day moving average (2007/2008).

Equity indices appeared to be on decent footing this morning, but the opening gains evaporated in a hurry, pressuring the S&P 500 below its flat line just 15 minutes into the session. The early retreat took place as crude oil dove to new lows after slumping overnight in reaction to a GDP forecast cut from the IMF. To that point, the International Monetary Fund cut its 2015 global growth outlook to 3.0% from 3.5% and lowered the 2016 forecast to 3.7% from 4.0%.

As for oil, the energy component notched a low under the $47.00/bbl level before narrowing its loss to 3.3% at $47.53/bbl. Meanwhile, the energy sector (-0.5%) trades just behind the broader market. The continued weakness in oil has not stopped Baker Hughes (BHI 56.88, +0.32) and Halliburton (HAL 39.32, +0.19) from climbing in reaction to their earnings beats.

In other earnings news, Johnson & Johnson (JNJ 100.49, -3.55) is lower by 3.4% after missing revenue estimates, which has pressured the health care sector (-0.7%). However, biotechnology has fared relatively well with the iShares Nasdaq Biotechnology ETF (IBB 318.09, +0.27) higher by 0.1%.

Elsewhere, the consumer discretionary sector (-1.1%) is the only group that has had a worse showing than health care. Retailers and homebuilders are responsible for the underperformance with SPDR S&P Retail ETF (XRT 91.96, -1.48) and iShares Dow Jones US Home Construction ETF (ITB 24.42, -0.68) lower by 1.6% and 2.7%, respectively.

On the upside, technology (+0.1%) and industrials (+0.2%) have displayed relative strength since the start. The industrial sector has been bolstered by transport stocks while technology has rallied behind chipmakers. The Dow Jones Transportation Average is higher by 0.6% and the PHLX Semiconductor Index trades up 0.3%.

Treasuries trade near their highs with the 10-yr yield down six basis points at 1.78%.

Economic data was limited to the NAHB Housing Market Index for January, which slipped to 57 from 58 while the Briefing.com consensus expected the reading to hold at 58.

12:25 pm: [BRIEFING.COM] The stock market remains under pressure with the S&P 500 trading lower by 0.5%. Meanwhile, the Nasdaq (-0.4%) trades just ahead of the benchmark index thanks to the continued strength among chipmaker stocks. The PHLX Semiconductor Index is higher by 0.1% while the broader technology sector (-0.1%) hovers right below its flat line.

The tech sector has been kept from sliding deeper into the red by its top component. Shares of Apple (AAPL 107.26, +1.27) trade higher by 1.2% while most other heavily components sit closer to their flat lines. However, SAP (SAP 63.38, -3.73) is among the laggards, down 5.6% despite beating bottom-line estimates on revenue that was in-line with the company's warning from January 12.

11:55 am: [BRIEFING.COM] Recent action saw the key indices slip to new lows with the S&P 500 (-0.6%) slashing through its 100-day moving average (2007/2008), which has been a point of focus in recent days.

The S&P 500 fell below its 100-day average last Wednesday, but the index was able to reclaim that level by the end of the session. However, the benchmark index struggled on Thursday and lost its 100-day average once again. A broad-based rally on Friday helped the S&P 500 end the week above its 100-day average, but today's selling has the index struggling with that level once again.

The recent selling has pressured all ten sectors with today's weakest group-consumer discretionary-widening its decline to 1.3%. Elsewhere, the health care sector (-1.1%) is the only other group with a loss larger than 1.0%. Johnson & Johnson (JNJ 100.40, -3.64) has given up 3.5% after missing revenue estimates.

11:25 am: [BRIEFING.COM] Equity indices remain pressured with the S&P 500 (-0.4%) trading about five points above its session low. The benchmark index slumped from its opening level at the start of the session, but a handful of sectors that displayed early strength continue trading ahead of the broader market.

To that point, industrials (+0.1%) and technology (+0.1%) sport modest gains with the tech sector receiving support from chipmakers. The PHLX Semiconductor Index is higher by 0.4% with ARM Holdings (ARMH 46.92, +1.56) in the lead. The stock has spiked 3.4% after being upgraded to 'Market Perform' at Bernstein.

Elsewhere, Treasuries sit near their best levels of the session with the 10-yr yield down seven basis points at 1.77%.

10:55 am: [BRIEFING.COM] The major averages hover near their lowest levels of the session with the Russell 2000 (-1.0%) showing the largest decline. Meanwhile, the S&P 500 (-0.5%) trades a bit ahead, but the benchmark index also sits on its low.

Nine of ten sectors are now in the red while the industrial space (+0.1%) continues hanging onto a slim gain thanks to the relative strength among transport stocks. The Dow Jones Transportation Average is higher by 0.3% with airlines in the lead. Delta Air Lines (DAL 47.67, +1.83) has jumped 4.0% after beating earnings estimates by a penny.

On the flip side, the consumer discretionary sector (-1.0%) is the worst performer with retailers and homebuilders adding to their early losses. The SPDR S&P Retail ETF (XRT 92.00, -1.44) is lower by 1.5% while iShares Dow Jones US Home Construction ETF (ITB 24.52, -0.58) has surrendered 2.3%.

10:35 am: [BRIEFING.COM]

Crude oil and natural gas futures collapsed this morning with both commodities fallng sharply
Heating oil and RBOB gasoline futures are down, but haven't fall nearly as hard
Mar crude fell as low as $46.62/barrel and is now -4.3% at $47.02/barrel
Feb natural gas fell as low as $2.87/MMBtu and is now -8.2% at $2.87/MMBtu
Precious metals are getting some bids this morning
Mar gold is now +1.1% at $1291/oz, while Mar silver +1% at $17.92/oz
Mar copper, on the other hand, is -1.8% at $2.57/lb

10:00 am: [BRIEFING.COM] The S&P 500 trades lower by 0.3% after surrendering its opening advance.

The just-released NAHB Housing Market Index for January slipped to 57 from 58 while the Briefing.com consensus expected the reading to hold at 58.

9:40 am: [BRIEFING.COM] The major averages climbed out of the gate before backing away from their early highs. The S&P 500 trades higher by 0.1% with eight sectors showing opening gains.

Consumer staples (+0.7%) and technology (+0.7%) have paced the opening gains while most of the remaining sectors follow not far behind. However, the energy sector (-1.1%) has slumped due to the retreat in crude oil. At this juncture, the energy component is lower by 4.2% at $47.05/bbl.

Also of note, the consumer discretionary sector (-0.2%) has been pressured by retailers and homebuilders. The SPDR S&P Retail ETF (XRT 93.09, -0.35) is lower by 0.4% while iShares Dow Jones US Home Construction ETF (ITB 24.69, -0.41) has given up 1.6%.

Treasuries have added to their gains, pressuring the 10-yr yield to 1.80% (-4 bps).

9:11 am: [BRIEFING.COM] S&P futures vs fair value: +5.50. Nasdaq futures vs fair value: +16.50. The stock market is on track for a higher open as futures on the S&P 500 trade six points above fair value. Index futures were able to climb through the night despite a lowered growth outlook from the IMF. To that point, the International Monetary Fund lowered its 2015 global growth forecast to 3.5% from 3.8% and cut the 2016 forecast to 3.7% from 4.0%. On a related note, China's 2014 GDP came in at 7.4%, which was ahead of consensus (7.3%), but behind the official 7.5% forecast, representing the first miss since 1998.

In addition to lowered growth expectations, futures have had to contend with sliding oil prices. At this juncture, WTI crude is lower by 4.4% at $46.98/bbl. Meanwhile, two major components of the energy sector-Baker Hughes (BHI 57.20, +0.64) and Halliburton (HAL 39.75, +0.62)-are on track to open with respective gains of 1.1% and 1.6% after beating earnings expectations.

Treasuries hold gains with the 10-yr yield down three basis points at 1.81%.

The NAHB Housing Market Index for January will be released at 10:00 ET (Briefing.com consensus 58).

8:57 am: [BRIEFING.COM] S&P futures vs fair value: +10.30. Nasdaq futures vs fair value: +24.50. The S&P 500 futures trade ten points above fair value.

Markets rallied across much of Asia.

In economic data:
China's GDP rose 1.5% quarter-over-quarter (expected 1.7%; previous 1.9%) while the year-over-year reading increased 7.3% (consensus 7.2%; prior 7.3%). Separately, Fixed Asset Investment rose 15.7% year-over-year (expected 15.8%; last 15.8%), Industrial Production increased 7.9% (expected 7.4%; last 7.2%), Retail Sales rose 11.9% (consensus 11.7%; last 11.7%), and House Prices fell 4.3% year-over-year (previous -3.7%)
Japan's Industrial Production fell 0.5% month-over-month (expected -0.6%; previous -0.6%) while Capacity Utilization declined 0.8% (prior 0.7%). Separately, Household Confidence rose to 38.8 from 37.7 (expected 38.6)
Hong Kong's Unemployment rate held at 3.3%, as expected

------

Japan's Nikkei jumped 2.0% to reclaim the 200-day average on its way to a two-week high. Exporters lagged despite weakness in the yen as Sony added 0.8% and Honda Motor tacked on 0.6%.
Hong Kong's Hang Seng climbed 0.9%, retaking the 100-day average. Insurers led the way with China Life and Ping An rallying 4.2% and 3.0%, respectively.
China's Shanghai Composite jumped 1.8% to bounce off three-week lows as trade recovered following yesterday's 7.7% plunge. Brokerage shares remained weak with Citic Securities tumbling 9.9% and Haitong Securities sinking 8.8%.
India's Sensex gained 1.9% to close at a record high. Materials names were among the leaders as Sesa Sterlite added 5.4% and Tata Steel gained 4.5%.

Major European indices trade higher across the board. Germany's Finance Minister Wolfgang Schaeuble said he does not see deflation in either Germany or Europe and that European budgets must be consolidated.

Participants received several data points:
Eurozone Current Account surplus narrowed to EUR18.10 billion from EUR19.50 billion (expected surplus of EUR21.30 billion) while ZEW Economic Sentiment rose to 45.2 from 31.8 (expected 37.6)
Germany's PPI fell 0.7% month-over-month (expected -0.4%; previous 0.0%) while the year-over-year reading declined 1.7% (consensus -1.4%; last -0.9%). Separately, ZEW Economic Sentiment jumped to 48.4 from 34.9 (consensus 40.0).

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Germany's DAX is higher by 0.2% with financials among the leaders. Commerzbank and Deutsche Bank hold respective gains of 3.6% and 2.6%. On the downside, SAP is lower by 4.3% despite beating earnings estimates.
UK's FTSE has added 0.8% with help from energy and mining names. Anglo American, Fresnillo, and Tullow Oil hold gains between 3.0% and 3.5%.
In France, the CAC trades up 1.4%. Bank shares outperform with BNP Paribas and Societe Generale higher by 2.6% and 4.7%, respectively. Cap Gemini is the weakest performer, down 1.2%.
Spain's IBEX is higher by 1.6%. Banco Popular, Caixabank, and BBVA lead with gains between 2.3% and 6.1%.

8:25 am: [BRIEFING.COM] S&P futures vs fair value: +11.70. Nasdaq futures vs fair value: +29.00. U.S. equity futures remain near their pre-market highs while markets in Europe also hover near their best levels of the day. Market participants have received a few quarterly reports this morning, including better than expected results from two components of the energy sector. Baker Hughes (BHI 57.50, +0.94) and Halliburton (HAL 39.92, +0.79) are on track to register early gains, but the two names and the broader energy sector are likely to come under pressure due to a pullback in crude oil.

At this juncture, WTI crude futures trade lower by 3.1% at $47.63/bbl after returning to their overnight lows in recent action.

7:57 am: [BRIEFING.COM] S&P futures vs fair value: +11.80. Nasdaq futures vs fair value: +30.20. U.S. equity futures hover near their pre-market highs amid upbeat action overseas. The S&P 500 futures trade twelve points above fair value after spending the entire night in positive territory. Overnight, the IMF cut its 2015 global GDP forecast to 3.5% from 3.8%, but that has had little impact on futures.

The advance in futures has taken place despite lower oil prices with WTI crude trading lower by 2.2% at $48.07/bbl. Meanwhile, the Dollar Index (92.72, +0.20) has added 0.2%.

Today's economic data will be limited to the NAHB Housing Market Index for January, which will be released at 10:00 ET (Briefing.com consensus 58).

Treasuries hold modest gains with the 10-yr yield lower by a two basis points at 1.82%.

In U.S. corporate news of note:

Baker Hughes (BHI 57.38, +0.82): +1.5% following better than expected results.
Delta Air Lines (DAL 47.90, +2.06): +4.5% after reporting a one-cent beat.
Halliburton (HAL 39.96, +0.83): +2.1% in reaction to better than expected earnings.
Johnson & Johnson (JNJ 104.00, -0.04): flat after beating bottom-line estimates on light revenue.
Morgan Stanley (MS 34.29, -0.60): -1.7% after missing revenue estimates.

Reviewing overnight developments:

Asian markets ended higher. Hong Kong's Hang Seng +0.9%, China's Shanghai Composite +1.8%, and Japan's Nikkei +2.1%.
In economic data:
China's GDP rose 1.5% quarter-over-quarter (expected 1.7%; previous 1.9%) while the year-over-year reading increased 7.3% (consensus 7.2%; prior 7.3%). Separately, Fixed Asset Investment rose 15.7% year-over-year (expected 15.8%; last 15.8%), Industrial Production increased 7.9% (expected 7.4%; last 7.2%), Retail Sales rose 11.9% (consensus 11.7%; last 11.7%), and House Prices fell 4.3% year-over-year (previous -3.7%)
Japan's Industrial Production fell 0.5% month-over-month (expected -0.6%; previous -0.6%) while Capacity Utilization declined 0.8% (prior 0.7%). Separately, Household Confidence rose to 38.8 from 37.7 (expected 38.6)
Hong Kong's Unemployment rate held at 3.3%, as expected
In news:
China's Shanghai Composite rebounded from falling more than 6.0% on Monday after several brokers were charged with violating margin trading rules.

Major European indices trade higher across the board. Germany's DAX +0.4%, UK's FTSE +0.8%, and France's CAC +1.5%. Elsewhere, Italy's MIB +1.1% and Spain's IBEX +1.7%.
Participants received several data points:
Eurozone Current Account surplus narrowed to EUR18.10 billion from EUR19.50 billion (expected surplus of EUR21.30 billion) while ZEW Economic Sentiment rose to 45.2 from 31.8 (expected 37.6)
Germany's PPI fell 0.7% month-over-month (expected -0.4%; previous 0.0%) while the year-over-year reading declined 1.7% (consensus -1.4%; last -0.9%). Separately, ZEW Economic Sentiment jumped to 48.4 from 34.9 (consensus 40.0).
Among news of note:
Germany's Finance Minister Wolfgang Schaeuble said he does not see deflation in either Germany or Europe and that European budgets must be consolidated.

7:12 am: [BRIEFING.COM] S&P futures vs fair value: +10.50. Nasdaq futures vs fair value: +24.00.

7:12 am: [BRIEFING.COM] Nikkei...17,366.30...+352.00...+2.10%. Hang Seng...23,951.16...+212.70...+0.90%.

7:12 am: [BRIEFING.COM] FTSE...6,630.47...+44.90...+0.70%. DAX...10,271.96...+29.50...+0.30%.

Special thanks to Bloomberg, CNNMoney, 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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