TheStrategyLab.com Price Action Trading Support Forum

Forum for price action traders that want to learn WRB Analysis basic tutorial chapters 1, 2 and 3 prior to purchasing our advance trade methods. Hashtags: #wrbanalysis #wrbzone #wrbhiddengap #priceaction #trading
It is currently Thu Mar 28, 2024 5:48 pm

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: March 28th Monday 2011 Emini TF ($TF_F) points +9.50
PostPosted: Mon Mar 28, 2011 4:23 pm 
Offline
Site Admin

Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
Image

Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Attachment:
032811-wrbtrader-PnL-Blotter-Profit-950.png
032811-wrbtrader-PnL-Blotter-Profit-950.png [ 77.92 KiB | Viewed 277 times ]

click on the above image to view today's trading summary

Quote:
Most of the trading day for the Emini TF futures and other key markets was a range day with normal volatility until the market broke below the range in the last hour of trading. That last hour of trading produced my best trade of the day as a Short position. If you have any questions about my trading, want more details about the trade signal behind a particular trade or want to reply about something stated in this message post...click here.

Trade Performance for Today: +9.50 points or $950.00 dollars in the Russell 2000 Emini TF ($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, today's #FuturesTrades trading chat room logs provides details about each trade from entry to exit along with commentary as the trade traversed...all archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=88&t=795.

Also, posted below are direct links to information about my 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).

Image 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=5&t=180.

Image 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 trade strategies with support prior to purchasing the Volatility Trading Report (VTR).

Image Trading Plan Daily Routine @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=135&t=965

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

Image Market Summaries

The below summaries by Bloomberg, CNNMoney and Yahoo! Finance helps me to do a quick review of the fundamentals, FED actions, global economics that had an impact on today's price action. Simply, I'm a strong believer that many variables causes key changes in supply/demand and volatility that's arguably just as important as my technical analysis.

Image CNNMoney.com - Stocks Snap 3-Day Winning Streak
Attachment:
032811-Key-Price-Action-Markets.png
032811-Key-Price-Action-Markets.png [ 508.9 KiB | Viewed 276 times ]

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

By Hibah Yousuf, staff reporter
March 28, 2011: 4:39 PM ET

NEW YORK (CNNMoney) -- U.S. stocks finished slightly lower Wednesday, drifting into the red during the final hour of trading as volumes remained lackluster and cautious investors continued to focus on global developments.

The Dow Jones industrial average (INDU) fell 23 points, or 0.2%, with Home Depot (HD, Fortune 500) leading the decline. The blue chip index spent most of the session in positive territory, with AT&T (T, Fortune 500) and Verizon (VZ, Fortune 500) delivering the best performances. Both telecom giants were upgraded to "outperform" by Robert W. Baird.

The S&P 500 (SPX) slipped 4 points, or 0.3%, as shares of Marriott International (MAR, Fortune 500) slumped 6%. The hotelier warned that its revenue per available room for the first quarter of the year will come in at the low end of its initial guidance due to weakness in North America.

The Nasdaq (COMP) lost 12 points, or 0.5%, with a 4.3% drop in shares of eBay dragging on the tech-heavy index, following a $2.4 billion deal to acquire GSI Commerce.

Meanwhile, Nvidia Corp. (NVDA), Netflix (NFLX) and First Solar (FSLR) were among the best performers on both indexes. Energy stocks, including Schlumberger (SLB), Baker Hughes (BHI, Fortune 500) and Halliburton (HAL, Fortune 500), were also big gainers among the S&P 500.

All three indexes managed to head higher last week, thanks to a three-day winning streak, as investors turned their attention to strong corporate earnings and shrugged off geopolitical concerns. The Dow gained more than 3%, the S&P 500 rallied 2.7% and the Nasdaq surged 3.8%.

Stocks have been on a roller coaster ride the last several weeks amid ongoing concerns about Japan's nuclear crisis, along with continuing unrest in the Middle East and the civil war in Libya.

"Investors are still on the nervous side, so you're not seeing a whole lot of enthusiasm," said Steven Goldman, market strategist at Weeden & Co. Volume has been light throughout the last several days.

Still, Goldman said stocks remain attractive and poised to move higher.

For the month, the market is flat, but stocks are on track to end the first quarter with gains. Since the start of 2011, the Dow and S&P 500 are up about 5%, and the tech-heavy Nasdaq is up almost 3%.

Goldman added that improvement in the U.S. economy has helped boost stocks. The latest data has pointed to a steady recovery, which has lifted investor confidence.

At the end of the week, the government will release its key snapshot of the nation's job market. Friday's monthly hiring and unemployment report from the Labor Department is expected to show that the economy added 185,000 jobs in March, while the unemployment rate remained steady at 8.9%, according to economists surveyed by Briefing.com.

Economy: The Commerce Department reported that spending by individuals increased 0.7% in February, topping a forecasted 0.5% rise. Personal income rose 0.3% in the month, matching expectations.

The National Association of Realtors said pending home sales rose 2.1% in January. Economists were expecting sales to edge up 0.3%, according to economists surveyed by Briefing.com.

World markets: European stocks ended mixed. Britain's FTSE 100 edged up 0.1%, the DAX in Germany slipped 0.1% and France's CAC 40 increased 0.1%.

Asian markets also ended mixed. The Shanghai Composite added 0.2%, and the Hang Seng in Hong Kong gained 0.4%, while Japan's Nikkei slid 0.6%.

Companies: Shares of Eastman Kodak (EK, Fortune 500) jumped 5.3% after a federal agency said Friday that it would review the company's patent-infringement claim against Apple (AAPL, Fortune 500) and BlackBerry maker Research in Motion (RIMM).

Shares of RadioShack (RSH, Fortune 500) jumped 5% late afternoon following news that the iPad 2 would arrive at 500 stores of the electronic retailer Tuesday.

Currencies and commodities: The dollar fell slightly against the euro but moved higher versus the Japanese yen and the British pound.

Oil for May delivery slipped $1.42 to settle at $103.98 a barrel.

Gold futures for April delivery fell $6.60 to settle at $1,419.90 an ounce.

Bonds: The price on the benchmark 10-year U.S. Treasury fell, pushing the yield up to 3.45% from 3.44% late Friday.

Image

Image Yahoo! Finance - Market Update

4:35 pm : Stocks spent most of the session drifting along with modest gains before some late selling pressure caused the three major equity averages to retreat into the red for modest losses.

There weren't any real catalysts for trade this morning, but participants continued to provide support for stocks. Their bid was primarily underpinned by a fear of missing out on further gains, especially after the stock market showed its resilience with last week's rebound, which came in the wake of volatility earlier this month.

The lack of leadership eventually caught up with stocks in the final few minutes of trade, when waning support fueled selling interest. The effort left nine of the 10 major sectors to log losses after nine of them had sported gains in the early going.

Telecom was the only major sector that held on to its gain. As a group, telecom stocks settled with a 1.4% gain. Global communication handset maker Nokia (NOK 8.74, +0.39) put on a strong performance with help from an upgrade by analysts at Goldman Sachs.

GSI Commerce (GSIC 29.20, +9.82) surged after eBay (EBAY 30.34, -1.36) bid to take over the company for $29.25 per share, a a premium of about 50% over the stock's closing price from this past Friday.

Consumer discretionary plays were collectively the worst performing stocks. They fell 1.1% as Marriott (MAR 35.30, -2.36) dropped to a multi-month low in response to a downgrade by analysts at Goldman Sachs.

Data had little impact on trade today. Personal income for February failed to surprise with a 0.3% increase, which is exactly what had been expected, on average, among economists polled by Briefing.com. Spending increased by 0.7%, which is greater than the 0.5% increase that had been broadly expected.

Pending home sales posted a strong 2.1% increase for February. A 0.3% increase is all that had been expected, on average, among a sample of economists surveyed by Briefing.com.

Not even data could bring in traders from the sidelines. That kept participation at depressed levels, such that overall trade volume on the NYSE failed to break 800 million shares.

Treasuries saw some minor swings this session. Some of the action was driven by the moves of the stock market, but cues were also taken from a $35 billion auction of 2-year Notes. The auction was highlighted by a yield of 0.789%, a bid-to-cover of 3.16 for dollar demand of $110.6 billion, and an indirect bidder participation rate of 33%. Treasuries initially pulled back in response to the results, but were able to regroup.

Advancing Sectors: Telecom (+1.4%)
Unchanged: Consumer Staples, Health Care, Industrial
Declining Sectors: Energy (-0.1%), Utilities (-0.3%), Financial (-0.3%), Materials (-0.5%), Tech (-0.6%), Consumer Discretionary (-1.1%)DJ30 -22.71 NASDAQ -12.38 NQ100 -0.6% R2K -0.3% SP400 -0.4% SP500 -3.61 NASDAQ Adv/Vol/Dec 1089/1.67 bln/1509 NYSE Adv/Vol/Dec 1214/783 mln/1765

3:30 pm : Commodities finished lower across the board today, led by declines in grains (-1.5%), and industrials (-1.3%).

May crude oil sold off 1.4% to close at $103.98 per barrel. Prices dropped close to a point in the last 30 minutes of pit trade to end near session lows. April natural gas ended down 1.1% to $4.36 per MMBtu. After failing to break a trend line, around the $4.54 area with minutes to go in the session, price sold off sharply (around 14 cents) to lows.

April gold ended down 0.4% to $1419.90 per ounce, while May silver gained 0.1% to close at $37.09 per ounce. Both metals spent most of the session bouncing off of their respective lows and were aided by a pullback in the dollar index. DJ30 +23.38 NASDAQ -2.55 SP500 +1.28 NASDAQ Adv/Vol/Dec 1338/1.3 bln/1249 NYSE Adv/Vol/Dec 1511/511.2 mln/1459

3:00 pm : Lackluster trade has left the major equity averages to continue to grind along in a relatively tight trading range. The market's listlessness is owed to a lack of catalysts, whether corporate news, economic data, or geopolitical headlines.

While today's inaction may make for dull theatre, many pundits point out that stocks may not be climbing, but they are also refusing to sell off after staging strong gains last week. Underpinning that theme is the fear among traders of missing out on further gains.DJ30 +24.56 NASDAQ -1.10 SP500 +1.45 NASDAQ Adv/Vol/Dec 1377/1.17 bln/1206 NYSE Adv/Vol/Dec 1559/465 mln/1386

2:30 pm : GSI Commerce (GSIC 28.99, +9.61) is a top performer today, thanks to the decision by eBay (EBAY 30.80, -0.90) to buy the e-commerce and interactive marketing service provider for $29.25 per share. The offer represents a rich premium of about 50% over the sub-$20 price that the stock settled with this past Friday. The offer's total consideration stands at approximately $2.4 billion. eBay announced that the deal is expected to close in the third quarter and that it will be financed with both cash and debt.DJ30 +21.04 NASDAQ +1.36 SP500 +1.57 NASDAQ Adv/Vol/Dec 1335/1.08 bln/1254 NYSE Adv/Vol/Dec 1501/430 mln/1439

2:00 pm : Financial stocks have faltered in recent trade. In turn, the sector now trades with a gain of only 0.1%, which puts it near its session low.

The financial sector's recent slip comes as regional banks come under pressure. Comerica (CMA 36.58, -0.21), PNC Financial (PNC 61.56, -0.21), KeyCorp (KEY 8.70, -0.02), and even Wells Fargo (WFC 31.69, -0.25) are among the poorest performers in the regional lender space. DJ30 +22.55 NASDAQ +1.08 SP500 +1.97 NASDAQ Adv/Vol/Dec 1366/995 mln/1186 NYSE Adv/Vol/Dec 1569/396 mln/1368

1:30 pm : Results from a $35 billion auction of 2-year Notes were posted at 1:00 PM ET. Treasuries turned lower in response to the results.

The auction was highlighted by a yield of 0.789%, a bid-to-cover of 3.16 for dollar demand of $110.6 billion, and an indirect bidder participation rate of 33%. For comparison, the prior auction featured a bid-to-cover ratio of 3.03, dollar demand of $106.1 billion, and an indirect bidder participation rate of 31.2%. An average of the past five auctions results in a bid-to-cover of 3.47, dollar demand of $121.4 billion, and an indirect bidder participation rate of 31.8%.DJ30 +27.55 NASDAQ +2.68 SP500 +2.75 NASDAQ Adv/Vol/Dec 1363/930 mln/1175 NYSE Adv/Vol/Dec 1591/373 mln/1301

1:00 pm : The absence of new trading catalysts has left stocks slog along for most of the session. Still, the tone of trade remains generally positive as most of the major sectors remain in the green.

Telecom has put together the strongest gain of any major sector. As a group telecom plays are up a 1.5%, which is triple the gain of the next best performing sector (energy, +0.5%). Global communication handset maker Nokia (NOK 8.68, +0.33) is an especially strong performer following an upgrade by analysts at Goldman Sachs.

Analysts at Goldman Sachs downgraded Marriott (MAR 35.18, -2.48), which dropped to a multi-month low earlier today. Although it has bounced up from that low, the stock is still down 5%. That weakness has bled into the broader consumer discretionary sector, which is down 0.5% as the only major sector that has failed to put together a gain.

Pressure against consumer discretionary plays comes despite a greater-than-expected 0.7% increase in personal spending during February. Income for the month, up 0.3%, was in line with what had been expected.

In other economic news, pending home sales for February increased by 2.1%, which is better than what many economists had anticipated. DJ30 +22.48 NASDAQ +2.46 SP500 +2.23 NASDAQ Adv/Vol/Dec 1376/845 mln/1153 NYSE Adv/Vol/Dec 1561/340 mln/1332

12:30 pm : Stocks slipped in recent trade, but they have since stabilized. Still, the major equity averages now trade wtih only narrow gains.

Treasuries are now more mixed than they were this morning, when sellers had put pressure on the space. The benchmark 10-year Note is now just above the neutral line so that its yield stands at 3.44%. Meanwhile, the 2-year Note is barrely changed so that its yield is at 0.744%. Results from an auction of 2-year Notes are due at the top of the hour. DJ30 +21.76 NASDAQ +2.12 SP500 +1.88 NASDAQ Adv/Vol/Dec 1389/770 mln/1113 NYSE Adv/Vol/Dec 1531/315 mln/1326

12:00 pm : The Nasdaq recently slipped into negative territory, but it has since worked its way back to positive ground. It is holding on to a fractional gain.

China Integrated Energy (CBEH 2.61, -1.15) has been the hardest hit name in the Nasdaq. The stock's 30% drop today set a new 52-week low.

In contrast, Novogen (NVGN 2.35, +1.29) is the best performer in the Nasdaq. Its shares have pulled back from their morning high, which marked a 52-week best, but they are still sporting a gain of more than 100%. DJ30 +24.52 NASDAQ +2.45 SP500 +1.84 NASDAQ Adv/Vol/Dec 1343/680 mln/1136 NYSE Adv/Vol/Dec 1475/287 mln/1380

11:30 am : Energy stocks had a slow start to the session, but they have since advanced to a 0.4% gain. Exploration and services plays like Schlumberger (SLB 90.58, +3.69), Baker Hughes (BHI 73.70, +2.62), and Halliburton (HAL 47.59, +1.55) are out in front with the strongest gains. Refining plays Valero (VLO 29.53, -0.41) and Sunoco (SUN 45.54, -0.69) are two of the weakest performers in the energy space.

Oil prices continue to trade in the red, but remain above session lows. The energy component was last quoted with a $0.84 loss at $104.56 per barrel. Oil has shown no real reaction to recent headlines that pirates have hijacked a crude oil tanker near Oman.DJ30 +27.81 NASDAQ +5.68 SP500 +3.12 NASDAQ Adv/Vol/Dec 1420/575 mln/1029 NYSE Adv/Vol/Dec 1617/250 mln/1211

11:05 am : Stocks have pulled back in recent trade, but the major equity averages remain in positive territory.

Consumer discretionary issues have come under some of the sharpest pressure. That has taken the sector down to a 0.5% loss. Marriott (MAR 35.18, -2.48) is a primary source of weakness in the sector following news that the stock was downgraded by analysts at Goldman Sachs. Weakness among many of the other consumer discretionary plays comes in the face of news that personal spending actually increased more than expected during February. DJ30 +28.04 NASDAQ +4.25 SP500 +2.74 NASDAQ Adv/Vol/Dec 1481/445 mln/925 NYSE Adv/Vol/Dec 1800/200 mln/990

10:35 am : The dollar index pulled back in recent trade and moved into negative territory, which provided some strength to select commodities. However, most commodities remain lower this morning led by cotton -3.0%, sugar -2.2%, coffee -1.3% and copper -1.2%. Grains, cocoa, aluminum and orange juice are showing modest gains.

May crude oil has been in negative territory all morning. It fell to session lows of $103.60/barrel early on in pit trade and is now 0.1% lower at $104.20/barrel. April natural gas has been choppy this morning and is currently just below the flat line at $4.38/MMBtu.

Precious metals remain in the red this morning, but are only down slightly in current activity. April gold has erased about onr-third of its losses this morning and is at $1418.50/ounce, down 0.5%. May silver hit session lows of $36.44/ounce just ahead of pit trade. It moved back to the flat line, but is currently 0.2% lower at $36.97/ounce.DJ30 +45.10 NASDAQ +7.26 SP500 +5.03 NASDAQ Adv/Vol/Dec 1463/298.0 mln/849 NYSE Adv/Vol/Dec 1883/148.9 mln/857

10:00 am : Pending home sales for February were just posted. They increased by 2.1%, which is better than the 0.3% increase that had been expected, on average, among economists polled by Briefing.com. The stock market has had a muted response to the numbers. As such, stocks continue to sport modest gains in the early going.

Advancing Sectors: Telecom (+1.0%), Consumer Staples (+0.5%), Materials (+0.5%), Industrial (+0.5%), Energy (+0.4%), Utilities (+0.4%), Financials (+0.2%), Tech (+0.1), Health Care (+0.1%)
Declining Sectors: Consumer Discretionary (-0.1%)DJ30 +40.87 NASDAQ +6.86 SP500 +4.85 NASDAQ Adv/Vol/Dec 1263/150 mln/903 NYSE Adv/Vol/Dec 1707/85 mln/928

09:45 am : The major equity averages are up modestly this morning. The underlying bid remains broad based as many of the market's major sectors stage gains.

Telecom is in the strongest shape of any major sector. It currently sports a 0.9% gain, which has been led by integrated plays Verizon (VZ 37.59, +0.30) and AT&T (T 29.17, +0.32).

Energy stocks are having some difficulty pushing up from the neutral line into positive territory, though. The sector's relative weakness comes as oil prices slide 1.5% to $103.80 per barrel.

Coming up at the top of the hour is the latest in pending home sales. DJ30 +34.43 NASDAQ +4.65 SP500 +3.56

09:15 am : S&P futures vs fair value: +1.80. Nasdaq futures vs fair value: +7.10. Stock futures point to a slightly higher start as buyers cautiously return to action after bidding stocks higher last week. There haven't been any major catalysts or headlines to drive trade this morning. Action overseas has been mixed, so it has also offered little direction to permarket participants. As for data, there were no major surprises to personal income and spending for February. The latest pending home sales report is due at 10:00 AM ET. Results from an auction of 2-year Treasuries are scheduled for 1:00 PM ET. Comments from a couple of regional Fed speakers are also likely to make their way across newswires during today; Philadelphia Fed President Plosser caused a stir this past Friday with hawkish comments.

09:05 am : S&P futures vs fair value: +2.00. Nasdaq futures vs fair value: +8.10. Futures for the S&P 500 continue to point toward a fractionally higher start to the week. The relatively tepid tone among morning participants comes amid mixed action in Europe. Nokia (NOK) shares have attracted support, though; their shares were upgraded by analysts at Goldman Sachs. Porsche shares have been clipped following news that the automaker announced a large capital raise. Germany's DAX is currently flat. France's CAC is currently up fractionally as Alcatel-Lucent (ALU) shows strength following an upgrade by Goldman Sachs. Britain's FTSE is up by just 0.1% at the moment. Radiation remains a top concern in Japan, where the Nikkei closed with a 0.6% loss. Tokyo Electric was a primary source of weakness as its shares dove to new multi-year lows. Mainland China's Shanghai Composite mustered a 0.2% gain, but Hong Kong's Hang Seng shed 0.4%. CNOOC (CEO) showed strength following its quarterly report late last week. China Petroleum (SNP) reported early this morning its latest results, which featured a 42% year-over-year surge in revenue.

08:35 am : S&P futures vs fair value: +1.90. Nasdaq futures vs fair value: +7.90. Stock futures have shown no real reaction to personal income and spending data for February. Personal income increased by 0.3%, has had been broadly expected. Income for the prior month was revised upward to reflect an increase of 1.2%. Spending increased by 0.7%, which is greater than the 0.5% increase that had been expected, on average, among economists polled by Briefing.com. Prior month spending was revised slightly higher to reflect a 0.3% increase. The PCE Deflator for February increased by 0.2%, as had been expected.

08:05 am : S&P futures vs fair value: +1.80. Nasdaq futures vs fair value: +8.40. Broad market stock futures are currently flat. The tepid tone comes amid mixed action among the major averages abroad and an absence of any consequential headlines, although concerns related to radiation in Japan continue. Amid the dearth of corporate news, Verigy (VRGY) agreed to be acquired by Advantest (ATY) for $15 per share, which makes for a premium of more than 60% over the stock's closing price late last week. Today's ecomomic calendar features the latest monthly personal spending and income numbers (8:30 AM ET) and then pending home sales (10:00 AM ET). Results from an auction of 2-year Notes will be posted this afternoon (1:00 PM ET).

06:45 am : [BRIEFING.COM] S&P futures vs fair value: +0.80. Nasdaq futures vs fair value: +9.10.

06:45 am : Nikkei...9478.53...-57.60...-0.60%. Hang Seng...23068.19...-90.50...-0.40%.

06:45 am : FTSE...5902.78...+2.60...+0.10%. DAX...6923.51...-22.70...-0.30%.

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

Best Regards,
M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Image@ http://twitter.com/wrbtrader and http://stocktwits.com/wrbtrader

Phone: +1.708.572.4885
Business Hours: 8am - 5pm est (Mon - Fri)
Skype Messenger: kebec2002
questions@thestrategylab.com
Go Back To TheStrategyLab.com Homepage


Top
 Profile  
 
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 1 post ] 

All times are UTC - 5 hours [ DST ]


Who is online

Users browsing this forum: No registered users and 0 guests


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to:  
cron
Powered by phpBB © 2000, 2002, 2005, 2007 phpBB Group
Translated by Xaphos © 2007, 2008, 2009 phpBB.fr