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 1:29 pm

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: March 21st Monday 2011 Emini TF ($TF_F) points +2.30
PostPosted: Tue Mar 22, 2011 8:46 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:
032111-wrbtrader-PnL-Blotter-Profit-230.png
032111-wrbtrader-PnL-Blotter-Profit-230.png [ 76.96 KiB | Viewed 299 times ]

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

Quote:
Tough price action today and a few missed trade opportunities. Simply, I spent most of the trading day just staying on the sidelines except for two trades. My best trade of the day involved trading the 4pm est rush hour price action. 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: +2.30 points or $230.00 dollars in the Russell 2000 Emini TF ($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=787.

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 Rally For Third Day, Dow Jumps 178
Attachment:
032111-Key-Price-Action-Markets-1.png
032111-Key-Price-Action-Markets-1.png [ 387.79 KiB | Viewed 317 times ]

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

By Ken Sweet, contributing writer
March 21, 2011: 4:40 PM ET

NEW YORK (CNNMoney) -- U.S. stocks rallied for a third day on Monday, as fears about Japan's damaged nuclear plants eased and investors cheered a huge merger in the telecommunications industry.

The Dow Jones industrial average (INDU) jumped 178 points, or 1.5%, to 12,037. It's the first time the Dow has closed above the 12,000-point mark since the day of the Japanese earthquake on March 11.

The S&P 500 (SPX) index added 19.2 points, or 1.5%, to 1,298; and the tech-heavy Nasdaq (COMP) gained 48 points, or 1.8%, 2,692.

Stocks spiked at the open Monday, and remained steadily higher throughout the session.

Investors rallied on positive news regarding Japan's nuclear crisis, as well as AT&T's $39 billion deal to acquire T-Mobile USA. Shares of AT&T (T, Fortune 500) and Verizon Communications (VZ, Fortune 500) closed up more than 1%, although both companies pared back some of their earlier gains.

"Mergers are always a shot of adrenaline for investors, because it shows that corporate insiders still see value, despite this two-year bull market," said Fred Dickson, chief market strategist at D.A. Davidson & Co.

Shares of AT&T's smaller competitor Sprint Nextel (S, Fortune 500), which had been reported to be in talks with Deutsche Telekom, fell 14%, making it the worst performer on the S&P 500.

Aside from corporate news, investors continue to react to developments in Japan and Libya.

Over the weekend, Japanese engineers made progress in cooling nuclear reactors that had overheated, following the devastating earthquake and tsunami that struck the country March 11.

Meanwhile, turmoil in North Africa heated up. The United States and its allies launched an airstrike on Libyan military targets Monday, in an effort to subdue forces of Libyan leader Moammar Gadhafi.

Oil prices jumped more than $1 a barrel in electronic trading, following the attack. (CNN.com coverage of Libya)

"The fear of a Middle East contagion and a horrible nuclear calamity in Japan has abated, and the good news is that the economy and market fundamentals have returned to the forefront," said Paul Zemsky, head of asset allocation with ING Investment Management.

U.S. stocks ended higher Friday, but the ongoing turmoil in Japan led indexes to end lower for the week.

Economy: The National Association of Realtors said existing home sales fell to an annual rate of 4.88 million in February, which was much lower than the 5.05 million most economists forecasted.

Companies: Citigroup (C, Fortune 500) shares fell 1.6% after the bank announced a 1-for-10 reverse stock split and said it plans to reinstate its quarterly dividend.

Tiffany & Co. (TIF) shares rose 5% after the luxury retailer reported a stronger-than-expected profit.

World markets: European stocks closed broadly higher. The DAX in Germany gained 2.3%, France's CAC 40 rose 2.5%, and Britain's FTSE 100 added 1.2%.

Asian markets ended higher. The Shanghai Composite ticked up less than 0.1%, while the Hang Seng in Hong Kong added 1.7%. Japanese markets were closed for a national holiday.

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

Gold futures for April delivery rose $10.30, or 0.7%, to $1,426.40 an ounce.

Bonds: The price on the benchmark 10-year U.S. Treasury fell, pushing the yield up to 3.35% from 3.26% late Friday.

Image

Image Yahoo! Finance - Market Update

4:30 pm : A strong favor for stocks today sent the major equity averages up to impressive gains. The advance has culminated in the Dow's best three-session performance since September.

Although an escalation of military engagement in Libya sent oil prices up more than 1% to close pit trade above $102 per barrel, news that Japan has made progress in its efforts to restore damaged nuclear facilities helped quell concerns about a potential meltdown. That helped both foreign markets and U.S. equity averages add to the gains that they staged late last week.

Despite the broad market's recent momentum, the S&P 500 struggled to extend its climb above the 1300 line. Meanwhile, the Dow worked its way to a new weekly high. That feat is owed to three straight advances, which have collectively made for a gain of more than 3%.

Dow component Caterpillar (CAT 107.59, +2.53) was a leader among blue chips as its shares set a record high, but AT&T (T 28.26, +0.32) led morning headlines with news that it will acquire T-Mobile from Deutsche Telekom in a $39 billion deal. The news won shares of T an upgrade from analysts at Citigroup. Shares of Sprint (S 4.37, -0.68) were shunned in response to the news.

The latest quarterly report from Tiffany & Co. (TIF 60.22, +2.93) made the stock a top performer. The company's news release featured an upside earnings surprise and upside guidance, which included consideration for the possibility of softer demand from Japan in the wake of the devastating earthquakes that stuck more than a week ago.

Supply and shipment concerns related to the wreckage in Japan had exacerbated recent weakness in semiconductor stocks during recent weeks, but the group rallied this session. Specifically, the 1.9% scored by the Philadelphia Semiconductor Index was its strongest single-session move in two weeks. Semiconductor stocks and large-cap tech helped lead the Nasdaq Composite this session.

News that Citigroup (C 4.44, -0.06) shares will undergo a reverse 10-for-1 stock split overshadowed the company's intention to reinstate its $0.01 quarterly dividend. Disappointment over the reverse split put pressure on the stock. That left shares of C to lag for the entire session, along with many other financials. The Financial Select SPDR ETF (XLF 16.34, +0.07) settled only modestly higher.

Favor for risk led to renewed selling against the greenback. In turn, the Dollar Index dropped to its lowest level since late 2009.

Treasuries were also clipped. They weren't helped by news that the Treasury will add to supply as it begins to wind down its $142 billion Mortgage-Backed Securities Portfolio this month.

The only item on the economic calendar was February existing home sales figures, which reflected annualized sales of 4.88 million. The consensus among economists polled by Briefing.com had been pegged at an annualized rate of 5.05 million. DJ30 +178.01 NASDAQ +48.42 NQ100 +1.5% R2K +2.3% SP400 +2.0% SP500 +19.18 NASDAQ Adv/Vol/Dec 2048/1.75 bln/574 NYSE Adv/Vol/Dec 2459/1.00 bln/547

3:30 pm : It was a relatively quiet session for commodities, which finished mostly higher. Softs were the sole decliner, after shedding 0.5%.

Precious metals (+1.9%) was the largest advancing sector, led by a 2.8% rally in May silver, which closed at $36.00 per ounce. April gold ended higher by 0.8% to $1426.40 per ounce. A flight to safety and weakness in the dollar helped the precious metals higher today.

The implementation of the no-fly zone over Libya by a coalition of UN forces pushed April crude oil higher today. It gained 1.3% to finish at $102.33 per barrel. Continued unrest in other countries in the Middle East also captivated the market today. April natural gas finished just below unchanged at $4.16 per MMBtu. DJ30 +153.67 NASDAQ +42.77 SP500 +16.48 NASDAQ Adv/Vol/Dec 1936/1.3 bln/662 NYSE Adv/Vol/Dec 2431/677.2 mln/542

3:00 pm : Shares of Tiffany & Co. (TIF 59.91, +2.62) are still among this session's top performing stocks, but they recently slid below the $60 line for the first time today. The stock's drift off of its opening gap up, which took the stock above $62 per share, has been a gradual trend throughout the trading day.

Initial excitement in shares of TIF stemmed from better-than-expected earnings for the latest quarter and strong guidance. The company's guidance was actually trimmed in response to challenges related to Japan, but its outlook remains above what Wall Street's analysts had widely anticipated. DJ30 +173.66 NASDAQ +47.27 SP500 +18.61 NASDAQ Adv/Vol/Dec 1954/1.26 bln/643 NYSE Adv/Vol/Dec 2440/634 mln/531

2:30 pm : The Dollar Index has dropped to a new session low. With that, the euro now trades at $1.42, the pound is at $1.63, and the yen is at 81.00 yen per dollar. The doldrums of the dollar have taken the greenback to its lowest level against a basket of major foreign currencies in more than one year.DJ30 +187.09 NASDAQ +50.37 SP500 +20.21 NASDAQ Adv/Vol/Dec 1963/1.18 bln/625 NYSE Adv/Vol/Dec 2427/585 mln/540

2:00 pm : Although the S&P 500 recently backed off of the 1300 line, it hasn't exactly been knocked down. Instead, the benchmark index continues to sport a 1.5% gain. The Dow has displayed similar strength, which has blue chips on pace for their best collective three-day gain since September.

General Electric (GE 19.71, +0.46) has been one of today's best performing blue chips. In contrast, Bank of America (BAC 13.95, -0.09) has been one of the worst performing Dow components of this session. Kraft (KFT 30.84, -0.15) is also mired in the red, although it has worked its way up from its morning low, which was set in response to news of a downgrade by analysts at JPMorgan. DJ30 +189.58 NASDAQ +48.61 SP500 +19.63 NASDAQ Adv/Vol/Dec 1933/1.09 bln/648 NYSE Adv/Vol/Dec 2381/544 mln/551

1:30 pm : The S&P 500 has been gradually easing off of the 1300 line, which had been acting as a point of resistance during late morning and early afternoon trade. Still, a generally strong tone of trade among market participants has stocks up with impressive gains, such that approximately 120 NYSE-listed issues have hit 52-week highs today.DJ30 +169.53 NASDAQ +41.81 SP500 +17.05 NASDAQ Adv/Vol/Dec 1942/1.01 bln/613 NYSE Adv/Vol/Dec 2432/500 mln/497

1:05 pm : A willingness to return to riskier holdings has helped send stocks climb sharply this session. Resistance has capped the move, though.

The major equity averages have all made impressive advances in an extension of the gains that were booked late last week. Momentum was initially helped along by broad-based buying abroad earlier this morning. However, the S&P 500 has been unable to push past the 1300 zone.

Weakness among financial stocks has acted as a drag on broad market action. The sector is up only fractionally as heavyweight Citigroup (C 4.41, -0.09) turns lower following news that the company's shares will undergo a reverse 10-for-1 split. The company also announced plans to reinstate its $0.01 quarterly dividend.

Energy stocks have been leaders in recent trade. As a group, energy stocks are up about 3% amid a jump in oil prices to around $103 per barrel amid escalated military engagement in Libya following last week's UN decision to implement a no-fly zone in the country.

Large-cap tech is also in strong shape after it lagged this past Friday. Their strength has helped the Nasdaq 100 swing to a gain of more than 2%.

News that AT&T (T 28.34, +0.40) will acquire T-Mobile from Deutsche Telekom a $39 billion deal has been a leading headline today. The news won shares of T an upgrade by analysts at Citigroup. Meanwhile, some analysts have taken a negative view on Sprint (S 4.24, -0.81), which is down sharply this session.

Economic data for today has been limited. The only noteworthy item is the latest existing home sales report, which said that sales during February hit an annualized rate of 4.88 million. The Briefing.com consuens had called for a rate closer to 5.05 million.

Favor for risk has weighed heavily on the dollar, such that the Dollar Index descended to a new 52-week low earlier today.

Treasuries are also weaker, although the yield on the benchmark 10-year Note has come down in recent trade. The Treasury announced this morning that it will begin to wind down its $142 billion Mortgage-Backed Securities Portfolio this month with a sale of up to $10 billion in agency-guaranteed mortgage-backed securities, subject to conditions. DJ30 +182.92 NASDAQ +47.45 SP500 +18.66 NASDAQ Adv/Vol/Dec 1959/928 mln/584 NYSE Adv/Vol/Dec 2435/465 mln/491

12:30 pm : The S&P 500 continues to trade near its session high. Although its gain this session has been impressive, the benchmark index has so far been unable to push past resistance at the 1300 line.

Meanwhile, the tech-rich Nasdaq has eased off of its session high, but it continues to trade with a lead over its counterparts with help from large-cap tech issues. DJ30 +195.35 NASDAQ +51.21 SP500 +20.35 NASDAQ Adv/Vol/Dec 1984/848 mln/559 NYSE Adv/Vol/Dec 2449/415 mln/466

12:00 pm : Financial stocks are lagging this session. As such, the Financial Select Sector SPDR ETF (XLD 16.30, +0.03) is up only 0.2%. Part of the group's relative weakness stems from losses in shares of heavyweights like Citigroup (C 4.44. -0.06) and Bank of America (BAC 13.91, -0.13).

Citigroup announced this morning its intent to reinstate a quarterly dividend of $0.01 per share, but it also announced that its common stock will undergo a 1 for 10 reverse stock split. Bank of America has yet to announce plans for an immediate dividend raise. DJ30 +185.08 NASDAQ +49.68 SP500 +19.26 NASDAQ Adv/Vol/Dec 1978/770 mln/536 NYSE Adv/Vol/Dec 2447/372 mln/445

11:30 am : The broad market continues to trade with a heady gain, but shares of Sprint (S 4.25, -0.80) have been shunned following news that AT&T (T 28.21, +0.27) has agreed to acquire T-Mobile from Deutsche Telekom in a deal valued at about $39 billion. Shares of S now sit at a two-week low. Meanwhile, Verizon (VZ 36.69, +0.85) is back near its two-month high. Collectively, telecom plays are up about 1.0%, as measured by the SPDR S&P Telecom ETF (XTL 50.52, +0.52).DJ30 +195.33 NASDAQ +53.28 SP500 +19.83 NASDAQ Adv/Vol/Dec 1986/660 mln/513 NYSE Adv/Vol/Dec 2490/325 mln/384

11:00 am : Large-cap tech issues caused the Nasdaq 100 to lag during trade last Friday, but the Nasdaq 100 has swung to a 2.1% gain today. Apple (AAPL 338.18, +7.51), which represents 20% of the Nasdaq 100, is a primary leader as it sports a 2.3% gain. Some analysts have suggested that the decision by AT&T (T 28.33, +0.39) to purchase T-Moble from Deutsche Telekom [in a $39 billion deal] is a positive for Apple because a new flock of customers will be able to access Apple's iPhone and iPad when they officially become part of AT&T's network.DJ30 +188.03 NASDAQ +50.22 SP500 +18.78 NASDAQ Adv/Vol/Dec 1977/527 mln/482 NYSE Adv/Vol/Dec 2457/259 mln/383

10:30 am : The dollar index spiked back near the unchanged line about an hour ago, which pulled select commodities lower including crude oil.

April crude oil has been in positive territory all session, but pulled back ~$1/barrel to new session lows of $101.93/barrel on the spike in the dollar index earlier. It's now back above the $102 level, now up 1.1% at $102.16/barrel.

April natural gas fell quickly after pit trading opened, falling into negative territory and new session lows of $4.116/MMBtu. It's erased over half of its losses and is now 0.8% higher at $4.20/MMBtu.

Precious metals have shown strength all morning. April gold is currently up 1% at $1430.3/ounce, while May silver is 2.4% higher at $35.91/ounce. Industrial commodity copper is the worst performer in the CRB Index, showing losses of 1.2% at $4.29/lb.DJ30 +200.26 NASDAQ +49.73 SP500 +20.24 NASDAQ Adv/Vol/Dec 2021/368.4 mln/374 NYSE Adv/Vol/Dec 2458/190.3 mln/342

10:00 am : Unfazed by the latest existing home sales data, stocks continue to trade with impressive gains. The three major equity averages are now near morning highs.

Existing home sales for February hit an annualized rate of 4.88 million, which is less than the rate of 5.05 million that had been expected, on average, among economists polled by Briefing.com. Sales for the prior month were revised upward to an annualized rate of 5.40 million units. Despite slower-than-expected sales of existing homes, shares of homebuilders have joined in the broad market's bounce so that they trade with a 1.5% gain, as measured by the SPDR S&P Homebuilders ETF (XHB 18.06, +0.28). DJ30 +207.07 NASDAQ +50.57 SP500 +20.36 NASDAQ Adv/Vol/Dec 2001/235 mln/344 NYSE Adv/Vol/Dec 2455/132 mln/293

09:45 am : A broad-based bid has driven the three major equity averages to gains in excess of 1% in the early going. The buying effort comes amid improved sentiment among market participants, who first began to show a willingness to return to riskier holdings late last week after they had reacted fearfully to headlines out of Japan and the Middle East and North Africa region.

Just released, the U.S. Treasury announced that it will begin to wind down its $142 billion Mortgage-Backed Securities Portfolio. Starting this month, the Treasury plans to sell up to $10 billion in agency-guaranteed mortgage-backed securities per month, subject to conditions. The idea of increased debt supply in the market has stirred selling interest among Treasuries, such that the yield on the benchmark 10-year Note is now back to 3.30%. DJ30 +175.21 NASDAQ +41.39 SP500 +17.24

09:15 am : S&P futures vs fair value: +14.20. Nasdaq futures vs fair value: +29.00. Stock futures suggest a markedly higher start to trade is in order. Strengthened sentiment stems partly from encouraging reports about the restoration of damaged nuclear facilities in Japan and a shared willingness with overseas investors to take on increased risk. That tolerance for risk comes despite escalated military action in Libya and defiant comments from the country's head, Gaddafi. Military action in Libya has spurred oil futures prices back near $103 per barrel. The $39 billion deal for AT&T (T) to buy T-Mobile from Deutsche Telekom has also been a boon to buying interest this morning. Tiffany & Co. (TIF), which gets a substantial chunk of its business from Japan, has added to the positive backdrop of this morning's trade with better-than-expected earnings. Its guidance was actually trimmed, but the outlook remains above what Wall Street had projected.

09:05 am : S&P futures vs fair value: +14.50. Nasdaq futures vs fair value: +28.20. Commodities are generally stronger this morning. As such, the CRB Commodities Index is up 0.7%. Leading the advance, oil prices are up 1.7% to $102.80 per barrel. The energy component's spike comes amid increased military action in Libya following the UN's decision to establish a no-fly zone over the country. Natural gas is lagging with a 0.4% loss at $4.15 per MMBtu. Precious are up nicely. Gold prices are up 1.2% to $1433.10 per ounce while silver has advanced to a 2.6% gain at $35.97 per ounce. The run up in silver prices comes amid renewed weakness in the dollar, such that the Dollar Index is at its lowest level in more than one year.

08:35 am : S&P futures vs fair value: +15.50. Nasdaq futures vs fair value: +27.80. Overseas markets are attracting buyers after last week's volatile action. Germany's DAX is currently up 2.0%. Deutsche Telekom is a primary leader following news that it will sell T-Mobile to AT&T (T) in a $39 billion deal. SAP AG (SAP) reaffirmed its outlook for fiscal 2011. France's CAC is currently up 1.8% and Britain's FTSE has advanced 1.2%. Their gains extend the advances made late last week after they had sustained several consecutive losses. In Asia, Japan's Nikkei was closed for holiday observance, but country officials reported progress in restoring damanged nuclear facilities. Following news on Friday that China's central bank will raise reserve requirement ratio by another 50 basis points, mainland China's Shanghai Composite closed with a 0.1% gain. Hong Kong's Hang Seng climbed 2.4% in its latest round of trade.

08:05 am : S&P futures vs fair value: +15.50. Nasdaq futures vs fair value: +28.50. Stock futures are displaying strength this morning. The positive tone permeating premarket trade follows the gains made late last week and, more recently, general buying interest abroad. Sentiment has been helped by reports of progress by Japan in restoring damaged nuclear facilities. However, military action has intensified in Libya following last week's UN decision to implement a no-fly zone there. Corporate news has been highlighted by Dow component AT&T (T) has decided to acquire T-Mobile from Deutsche Telekom in a deal valued at about $39 billion. Shares of T were upgraded by analysts at Citigroup in the wake of the announcement. As for earnings announcements, Tiffany & Co. (TIF) posted an upside surprise for the latest quarter then issued upside guidance. Existing home sales data make up the only item of interest on the economic calendar. Figures for February are due at 10:00 AM ET.

06:47 am : [BRIEFING.COM] S&P futures vs fair value: +15.50. Nasdaq futures vs fair value: +27.80.

06:47 am : FTSE...5782.31...+64.20...+1.10%. DAX...6796.44...+132.00...+2.00%.

06:45 am : Nikkei...Holiday......... Hang Seng...22685.22...+385.00...+1.70%.

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 2 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