02/09/2016 Live Update

[MrMiyagi]

SPY finished green by a penny it seems... I knew it was going to be a positive day

[MrMiyagi]

qqq

[BullBear52x]

?

What is wrong with my left and right shoulder, head is 1828?

Neck line was too steep, I am looking for parallel line between neck line and shoulders. not too far off, if it did like the one you mentioned it is most likely something else, head and shoulder in general is consolidating pattern, therefore it's more of an art than a science more time than not.

[hunterman]

Who all in? I AM lol all in the Eafe index now for short term trade! Gappy I believe asked what it was, it is the index that tracks the European, Asia, and far east markets. Well good luck to all....if I am correct then we gap higher o/n with Asia lead n Europe follow... My analysis shows monthly dbl bottom for oil spy and global Dow.... We shall see

[gappy]

Not a stellar Tokyo open.

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Will the Yellen pump get faded manana?

[gappy]

Update.

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Thieves in the night.

[Wallstreetrader]

Closing longs opening high short position 1873

[daytradingES]

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OVERNIGHT MARKETS AND NEWS

March E-mini S&Ps (ESH16 +1.01%) are up +1.03% and European stocks are up +2.67% as crude oil (CLH16 +2.18%) rallied +1.65% and bank stocks climbed. Bank of America, Citigroup and Morgan Stanley were all up at least 1.5% in pre-market trading ahead of Fed Chair Yellen's testimony on the economy to the House Financial Services Committee later this morning. Technology stocks are also higher, as Amazon.com, Facebook and Netflix were all up at least 2% in pre-market trading. European bank stocks also rallied to lead European stocks higher with Commerzbank AG up over 8% and Deutsche Bank AG surged 13% on reports that Germany's biggest bank was considering a share buyback, which eased concern about its funds. Asian stocks settled lower: Japan -2.31%, Australia -1.17%, Singapore -1.57%, India -1.09%. Hong Kong, China, Taiwan and South Korea were all closed for holiday. Japan's Nikkei Stock Index tumbled to a 1-1/4 year low as strength in the yen undercut exporter stocks along with concern that margin calls were generating forced selling of stocks.

The dollar index (DXY00 +0.06%) is up +0.07%. EUR/USD (^EURUSD) is down -0.34%. USD/JPY (^USDJPY) is down -0.11%.

Mar T-note prices (ZNH16 -0.18%) are down -7.5 ticks.

UK Dec industrial production fell -1.1% m/m, weaker than expectations of -0.1% m/m and the largest monthly decline in 3-1/4 years. Dec manufacturing production unexpectedly fell -0.2% m/m, weaker than expectations of +0.1% m/m and the third consecutive decline.
U.S. STOCK PREVIEW

Key U.S. news today includes: (1) weekly MBA mortgage applications (previous -2.6% with purchase sub-index -7.0% and refi sub-index +0.3%), (2) Fed Chair Janet Yellen's testimony before the House Financial Services Committee to deliver the Fed’s semi-annual monetary policy report to Congress, (3) the Treasury's auction of $23 billion of 10-year T-notes, and (4) Jan monthly budget statement (expected +$10.1 billion, Dec -$14.444 billion).

There are 19 of the S&P 500 companies that report earnings today with notable reports including: Cisco (consensus $0.54), Time Warner (1.00), Humana (1.45), Whole Foods (0.40), Expedia (1.00), Prudential Financial (2.30).

U.S. IPO's scheduled to price today: Avexis (AVXS), Proteostasis Therapeutics (PTI), Advanced Disposal Services (ADSW).
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(Reuters) - U.S. stock index futures were higher on Wednesday, with oil prices staging a modest recovery, ahead of U.S. Federal Reserve Chair Janet Yellen's appearance before Congress. Yellen, whose testimony on monetary policy starts at 10:00 a.m. ET, is expected to defend the central bank's rate hike in December and likely insist further hikes this year remain on track, albeit at a slower pace. Fears of a global and U.S. economic slowdown, along with oil's precipitous slide, have already dampened the market's expectations for a hike in coming months.
Investors will tune into Yellen's remarks for clues on the Fed's outlook on the economy as interest rates turn negative around the world amid the turmoil in markets. Diverging central bank policies have played havoc with financial stocks, especially in the past few days. A rebound in European banks on Wednesday, helped prop up global stocks.

* Oil prices, which have often dictated the market's moves this year, were up about 2 percent on rekindled hopes a production cut by major producers.

* Wall Street closed lower for the third session in a row on Tuesday, after a sharp fall in crude battered the energy sector.

* U.S. corporate reports are not offering much relief, with a few marquee names giving grim forecasts. Investors have been quick to punish the stocks of any company giving negative news.
* Shares of Walt Disney (NYSE: DIS) were down 2.8 percent at $89.70 premarket after a fall in profit at its ESPN sports network overshadowed the success of "Star Wars".
* Fitbit (NYSE: FIT) was up 5.9 percent at $15.15 after Salesforce CEO Marc Benioff reported a stake in the maker of wearable fitness devices. The company's share lockup period expires Wednesday.
* Tesla (NASDAQ: TSLA), Cisco (NASDAQ: CSCO) and Twitter (NYSE: TWTR) are scheduled to report after the close.



Futures snapshot at 7:06 a.m. ET:

* Dow e-minis 1YMc1> were up 130 points, or 0.81 percent, with 48,580 contracts changing hands.
* S&P 500 e-minis were up 19.5 points, or 1.06 percent, with 289,033 contracts traded.
* Nasdaq 100 e-minis were up 55.75 points, or 1.41 percent, on volume of 46,375 contracts.