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 6:13 pm

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: March 22nd Tuesday 2011 Emini TF ($TF_F) points +4.40
PostPosted: Tue Mar 22, 2011 9:04 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:
032211-wrbtrader-PnL-Blotter-Profit-440.png
032211-wrbtrader-PnL-Blotter-Profit-440.png [ 77.66 KiB | Viewed 315 times ]

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

Quote:
Another tough price action today and only one missed trade opportunity that may have netted an extra +1.2 points. Simply, just like yesterday, I spent most of the trading day just staying on the sidelines except for a few trades. However, my first trade of the day was profitable whereas my last two trades of the day were losses. Yet, the losing trades were well manage and the damage minimized to losing only a few ticks. 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: +4.40 points or $440.00 dollars in the Russell 2000 Emini TF ($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=789.

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 Face Tremendous' Risks
Attachment:
032211-Key-Price-Action-Markets-1.png
032211-Key-Price-Action-Markets-1.png [ 400.12 KiB | Viewed 271 times ]

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

By Hibah Yousuf, staff reporter
March 22, 2011: 6:09 PM ET

NEW YORK (CNNMoney) -- After three days of rallying to reclaim pre-Japan earthquake levels, U.S. stocks slipped back into the red on Tuesday. Fatigued investors took a step back and considered lingering problems in Japan and across the Arab world.

"There's still a lot of uncertainty, and the headline risks are tremendous," said Joseph Saluzzi, co-head of equity trading at Themis Trading. "The market rallied for three days assuming that the Japan crisis was over, but we don't have any solid new information. The news flow is constant."

The Dow Jones industrial average (INDU) finished 18 points lower, or 0.2%. The S&P 500 (SPX) fell 5 points, or 0.4%, and the Nasdaq composite (COMP) slipped 8 points, or 0.3%.

Investors refocused their attention Tuesday on rising oil prices amid increasing political turmoil in North Africa and continuing violence Libya and Yemen.

Oil for April delivery rose $1.67, or 1.6%, to settle at $104 a barrel. May delivery will become the front-month contract after the close of trading, and it's already the most active contract -- rising more than $1.88, or 1.8%, to settle at $104.97 barrel. Earlier, prices topped $105 a barrel.

* Market roller-coaster ride not over

"With oil above $100, each incremental dollar increase seems to be hurting equities more and more," Saluzzi said.

As events unfold in the Middle East and North Africa, investors will continue to monitor crude prices, said Jack Ablin, chief investment officer at Harris Private Bank.

"They want to see how high oil prices will move, and if the gains will be persistent," he said. "If oil prices stay where they are for a long period of time, the more likely they are to weigh on consumers worldwide."

The Dow finished Monday's session above the 12,000-point mark for the first time since the Japanese earthquake on March 11.

The Japanese stock market was closed Monday for a national holiday. On Tuesday, the Nikkei soared 4.4%.

In other Asian markets, the Shanghai Composite added 0.3%, while the Hang Seng in Hong Kong gained 0.8%.

European stocks finished lower. Britain's FTSE 100 fell 0.4%, the DAX in Germany ticked down 0.5%, and France's CAC 40 slipped 0.3%.

* Video 2:05mins - The future of trading

Economy: The Federal Housing Finance Agency's home price index fell 0.3% in January, following a 1% drop the prior month.

Companies: Late Monday, news reports revealed that Apple (AAPL, Fortune 500) had sued Amazon (AMZN, Fortune 500) in California federal court. In the complaint, Apple asked a judge to block Amazon from using the term "Appstore." Three years ago, Apple was granted a trademark on its own "App Store." Shares of Apple rose 0.6%, while Amazon's stock fell 1.2%.

Bristol-Myers Squibb (BMY, Fortune 500) was a strong gainer on the S&P 500. Shares were up 1% on heavy volume, after the company said an experimental drug extended the survival of previously untreated skin cancer patients.

A 6.6% drop in shares of Walgreens (WAG, Fortune 500) dragged on the S&P 500 -- despite the drugstore chain posting a 10% jump in fiscal second-quarter profit Tuesday morning, driven by prescription sales and a later onset to the cold and flu season.

Shares of Netflix (NFLX) gained 4%, after Credit Suisse boosted its rating on the movie rental company. Netflix was the biggest gainer on the tech-heavy Nasdaq.

Currencies and commodities: The dollar was slightly higher against the euro, lower versus the British pound, and flat against the Japanese yen.

Gold futures for April delivery rose $1.20 , or 0.1%, to settle at $1,427.60 an ounce.

Bonds: The price on the benchmark 10-year U.S. Treasury fell, pushing the yield up to 3.34%.

Image

Image Yahoo! Finance - Market Update

4:30 pm : The S&P 500 faltered in the face of resistance near the 1300 zone during the early going. That left it to muddle along with a modest loss for the rest of the session as buyers sat on their gains from the prior session.

Although there is still headline risk related to the military action in Libya and the status of damaged nuclear facilities in Japan, the lack of deterioration of relative conditions in those countries has made them less threatening, for the time being, to market participants. That theme helped the major equity averages advance more than 1% yesterday. However, there wasn't any follow through this morning. The lack of early buying interest left stocks to slip into the red, which is where they spent the rest of the session.

Overall selling pressure was rather mild today. Declining share volume outpaced advancing volume by just 3-to-2 -- total share volume on the NYSE barely broke 800 million.

Corporate headlines drove action in a few individual names, but did little for the overall market. Walgreen (WAG 39.21, -2.76) slumped to one of its worst single-session losses in about nine months following in-line earnings results. Meanwhile, Express (EXPR 18.42, +1.02) hit a one-month high following news of its upside earnings surprise. Bristol Myers Squibb (BMY 26.29, +0.29) initially bounced to a one-month high in response to news that one of its drugs met a primary endpoint in a Phase III study, but the stock gradually gave back a chunk of its gain.

Renewed pressure against the greenback dropped the Dollar Index to a new 52-week intraday low, but the buck battled back for a flat finish.

No economic data of consequence was out today. Tomorrow brings the latest monthly new home sales figures, though. Also on tomorrow's agenda are weekly crude oil inventories and a speech from Fed Chairman Bernanke. DJ30 -17.90 NASDAQ -8.22 NQ100 -0.2% R2K -0.5% SP400 -0.7% SP500 -4.61 NASDAQ Adv/Vol/Dec 1051/1.65 bln/1540 NYSE Adv/Vol/Dec 1262/822 mln/1703

3:30 pm : Commodities, save for softs, finished higher again, led by a 1.3% rally in energy commodities. May WTI crude oil surged 1.9% to close at $105.04 per barrel as unrest in the Middle East continued to push prices higher. The ongoing no-fly zone in Libya, more protests in Yemen and Syria, and renewed tensions at the Israel-Gaza border were the focus of the market today. April natural gas gained 2.1% to close at $4.25 per MMBtu, closing higher for the third time in four sessions. The possibility of increased demand from Japan, coupled with cooler-than-avg temps across some parts of the country, help nat gas trade to its best levels in 6 weeks.

It was an uneventful session for April gold, which ended just above the flat line at $1427.60 per ounce. May silver ended up 1% to $36.26 per ounce. DJ30 -9.47 NASDAQ -7.07 SP500 -3.57 NASDAQ Adv/Vol/Dec 1018/1.3 bln/1521 NYSE Adv/Vol/Dec 1281/560.1 mln/1651

3:00 pm : Only an hour remains before the closing bell will toll. That has many market watchers looking ahead on the calendar of events.

After the close, Adobe Systems (ADBE 32.77, +0.43), Jabil Circuit (JBL 18.90, -0.61), and Discover Financial Services (DFS 22.59, -0.05) post their latest quarterly results. Tomorrow's agenda features earnings from General Mills (GIS 36.86, -0.26), the latest new home sales report, the weekly crude oil inventory data, and a speech from Fed Chairman Bernanke. DJ30 -11.28 NASDAQ -7.48 SP500 -3.53 NASDAQ Adv/Vol/Dec 987/1.19 bln/1561 NYSE Adv/Vol/Dec 1241/514 mln/1678

2:30 pm : The stock market continues to sit near session lows with narrow losses. The action comes after the S&P 500 failed to find any follow through buying interest near the 1300 line then failed to sustain a mid-session bounce that had only temporarily pared losses.

Sprint (S 4.51, +0.15) continues to see some of the most action this session. The stock was shunned yesterday, but today it is up sharply in high volume trade. Next to Citigroup (C 4.41, -0.02), shares of S are actually seeing the second most trading volume of any stock in the NYSE today. DJ30 -25.47 NASDAQ -11.65 SP500 -5.33 NASDAQ Adv/Vol/Dec 992/1.09 bln/1547 NYSE Adv/Vol/Dec 1242/473 mln/1663

2:00 pm : Financials are lagging for the second straight session. After the sector staged only a modest advance in the prior session it has succumbed to some relativey stiff selling today. In turn, financials are collectively down 0.9%.

The sector's relative weakness comes in the wake of news that 19 banks were given the go-ahead by the Fed to move forward with capital redistribution efforts, including dividend increases and share repurchases. That news has actually been viewed by some analysts as a source of support amid the volatile action of last week. Prior to the turbulent events that unfolded, there was some concern that headlines connected to bank capital redeployment would prompt a sell-the-news type of response. DJ30 -3.75 NASDAQ -6.72 SP500 -2.88 NASDAQ Adv/Vol/Dec 966/1.02 bln/1562 NYSE Adv/Vol/Dec 1221/440 mln/1668

1:30 pm : Renewed selling pressure has the stock market back near session lows. Oil prices have also pulled back so that it now trades just below $104 per barrel with a $0.90 per barrel.

The dollar's doldrums continue as it loses ground to competing currencies. Weakness in the greenback has the euro up to $1.421 and the yen at 80.920 yen per dollar. DJ30 -21.20 NASDAQ -12.07 SP500 -4.88 NASDAQ Adv/Vol/Dec 963/920 mln/1536 NYSE Adv/Vol/Dec 1162/400 mln/1718

1:00 pm : Pressure has been limited, but stocks have spent almost all session mired in the red with modest losses.

The stock market started the session on flat footing, but backed down after it failed to attract the follow through buying necessary to push the S&P 500 through resistance in the 1300 zone. Subsequent selling has been modest as many traders consider it good news that there haven't been any headlines detailing further deterioration in the status of Japan or Libya.

There haven't been any economic data of consequence to motivate participants, but a few corporate news items have led to some increased activity in individual names.

In-line earnings from Walgreen (WAG 39.40, -2.57) have been met with a concerted selling effort that has left the stock to sufer its worst single-session slide since June. In contrast, retailer plays Express (EXPR 18.31, +0.91) and Dollar General (DG 30.94, +0.56) are up sharply in response to stronger-than-expected earnings results.

Bristol Myers Squibb (BMY 26.39, +0.39) bounced to a one-month high at the open, but has gradually forfeited gains. Initial strength was underpinned by news that one of its drugs met a primary endpoint in a Phase III study.

Even though gold prices have spent the session mostly unchanged around $1426 per ounce, a few gold stocks are faring quite well. As such, Newmont Mining (NEM 52.73, +1.03) is up 2% and Kinross Gold (KGC 15.86, +0.57) is up almost 4%.

Oil prices have pushed past $104 per barrel, but energy stocks have been unable to shake free from broad market weakness. As such, the Energy Select SPDR ETF (XLE 77.55, 0.13) is down with a slight loss. DJ30 -17.18 NASDAQ -7.99 SP500 -3.50 NASDAQ Adv/Vol/Dec 1010/845 mln/1471 NYSE Adv/Vol/Dec 1209/370 mln/1656

12:30 pm : Stocks have extended their rebound off of morning lows, but the tight range of today's action has made the move appear only modest in scope. What's more, the stock market is still in negative territory with a narrow loss.

Although action among stocks remains generally lackluster, Treasuries haven't attracted any real support this session. Instead, the benchmark 10-year Note is down five ticks so that its yield is now at 3.35%. Meanwhile, the 2-year Note's yield is at 0.66%. DJ30 -6.48 NASDAQ -3.39 SP500 -1.97 NASDAQ Adv/Vol/Dec 999/756 mln/1456 NYSE Adv/Vol/Dec 1223/334 mln/1618

12:00 pm : Stocks have managed to limit their losses all session. That has kept the major equity averages just below the neutral line.

Gold stocks are glistening, though. Specifically, shares of Newmont Mining (NEM 52.79, +1.09) and Kinross Gold (KGC 15.96, +0.67) are up more than 2% and 4%, respectively. The jump by KGC has the stock at a fresh one-month high after it set a 52-week low just a few sessions ago. Strength among gold plays comes even though the underlying price of gold is down narrowly to about $1426 per ounce. DJ30 -6.89 NASDAQ -4.31 SP500 -2.00 NASDAQ Adv/Vol/Dec 974/669 mln/1447 NYSE Adv/Vol/Dec 1194/297 mln/1609

11:30 am : Shares of Sprint (S 4.50, +0.14) have snapped back after their prior session slump, which came in response to concerns that the firm will fall farther behind competitors with AT&T's (T 28.16, -0.10) decision to acquire T-Mobile from Deutsche Telekom. According to reports, Verizon (VZ 36.73, +0.27) is not interested in partnering with Sprint.DJ30 -13.48 NASDAQ 6.50 SP500 -3.00 NASDAQ Adv/Vol/Dec 914/566 mln/1494 NYSE Adv/Vol/Dec 1084/255 mln/1669

11:00 am : The stock market has extended its downward drift. Overall losses remain moderate, though.

Meanwhile, oil prices continue to climb. The energy component was last quoted with a 0.9% gain at $104 per barrel, which makes for a new session high.

Even though oil prices are pushing higher, energy stocks haven't been able to shake free from broad market weakness. As such, oil services plays like Schlumberger (SLB 88.65, -1.07) and Halliburton (HAL 45.06, -0.67) are both down by more than 1%. DJ30 -16.58 NASDAQ -7.11 SP500 -3.65 NASDAQ Adv/Vol/Dec 974/450 mln/1356 NYSE Adv/Vol/Dec 1212/205 mln/1513

10:30 am : The dollar index rallied in the last couple of hours, pushing into positive territory and adding pressure on select commodities.

Most of the CRB Commodity Index is in negative territory and the few commodities trading higher are showing only modest gains. Grains and soft commodities are the worst performers in the CRB with O.J. -2.7%, sugar -2.6%, wheat -1.9%, corn -1.5%, coffee -1.4%, soybeans -1.4%.

Energy markets are mixed with natural gas trading about 1% higher and crude, heating oil and RBOB gasoline modestly lower. May crude oil spent most of today's session in negative territory and put in sesion lows of $102.10 an hour ago and is now +$0.06 at $103.15/barrel.

April natural gas has been higher all morning and, while crude was putting in lows an hour ago nat gas was pushing to session highs of $4.23 per MMBtu around the same time. Currently, nat gas is $0.02 higher at $2.26 per MMBtu.

April gold is back near the flat line at $1426.50 per ounce, while May silver is $0.27 at $36.27 per ounce.DJ30 -2.80 NASDAQ -1.94 SP500 -1.11 NASDAQ Adv/Vol/Dec 1084/287.2 mln/1178 NYSE Adv/Vol/Dec 52.7/144.7 mln/87.9

10:00 am : Stocks have been backed down a bit, but selling pressure is still far from intense. The action has left the major equity averages to trade with only minor losses.

Utilities have caught a modest bid this morning. In turn, the Dow Jones Utility Average is up 0.3%. Dominion Resources (D 44.79, +0.30) is a primary leader in the pack.

The Dow Jones Transportation Index is down 0.3%, however. Its weakness comes as Expeditors International of Washington (EXPD 47.01, -1.32) drops in response to an analyst downgrade. DJ30 -8.21 NASDAQ -4.12 SP500 -2.13 NASDAQ Adv/Vol/Dec 980/150 mln/1177 NYSE Adv/Vol/Dec 1227/90 mln/1362

09:45 am : The major equity averages have slipped after hugging the neutral line for the first few minutes of trade. The action comes as the S&P 500 continues to contend with resistance in the 1300 zone.

Retailers are showing relative strength, though. As a group, retailers are up 0.4%, according to the SPDR S&P Retail ETF (XRT 48.90, +0.10). A strong quarterly report from apparel and accessories retailer Express (EXPR 18.25, +0.85) has helped support positive sentiment in that space.

In-line earnings from Walgreen (WAG 38.60, -3.37) have made the stock one of this morning's worst performers. Its weakness has imbued shares of CVS (CVS 33.28, -0.45) and Rite Aid (RAD 1.06, -0.01). DJ30 -7.19 NASDAQ -3.85 SP500 -1.98 NASDAQ Adv/Vol/Dec 1010/46 mln/974 NYSE Adv/Vol/Dec 1201/50 mln/1101

09:15 am : S&P futures vs fair value: -0.40. Nasdaq futures vs fair value: +0.20. Stock futures point to a flat follow up to the prior session's bounce. The moderated mood comes amid mixed action in Europe, although Asia's major averages added to their recent gains. Military action in Libya continues and Japan still faces the consequences of damaged nuclear facilities, but the absence headlines suggesting deterioration in either situation has been treated as a positive. There hasn't been any economic data of consequence; none is scheduled for release either. Corporate news has picked up a bit. The latest round of quarterly reports features upside earnings surprises from Express (EXPR) and Dollar General (DG), but Walgreen (WAG) posted in-line earnings. Bristol Myers Squibb (BMY) pleased investors with news that one of its drugs met a primary endpoint in a Phase III study.

09:05 am : S&P futures vs fair value: -0.30. Nasdaq futures vs fair value: +0.30. Stock futures are now hugging the flat line, but commodities are rather mixed. Among the more widely followed items, oil prices were recently quoted 0.7% lower at $102.35 per barrel. April futures contracts expire at the close of pit trade today. Meanwhile, natural gas prices are up more than 1% to $4.30 per MMBtu. Gold prices are down about 0.3% to $1422 per ounce.

08:35 am : S&P futures vs fair value: -1.10. Nasdaq futures vs fair value: -1.20. Action in Europe has settled down after strong buying yesterday helped the major bourses stage strong gains. Germany's DAX is currently down 0.1%. Following weekend news that it will sell T-Mobile to AT&T (T) in a $39 billion deal, Deutsche Telekom was upgraded by analysts at RBS. France's CAC is currently up fractionally. Sanofi-Aventis (SNY) is seeing mixed interest following news that Bristol Myers Squibb (BMY) met a primary endpoint in a Phase III drug study. Britain's FTSE is off by 0.2%.

In Asia, Japan's Nikkei rallied 4.4%. Most of that move is owed to pent up buying interest after the Nikkei was closed for holiday observance on Monday, when most of the world's major equity averages bounced on the back of broad-based buying. Tokyo Electric Power surged almost 16% to add to the 19% spike that it had staged last Friday. Toyota Motor (TM) announced recently that it will extend its vehicle production halt. In economic data, Japan's All Industry Activity Index for January increased by 2.9% after a 0.3% decline in December. Action outside of Japan was strong, but less impressive. Hong Kong's Hang Seng advanced 0.8%. China Telecom was a leader following a strong profit report. China's Shanghai Composite climbed just 0.3%. Banks showed strength, but Kweichow Moutai tumbled after its profit disappointed.

08:05 am : S&P futures vs fair value: -0.70. Nasdaq futures vs fair value: -4.70. Stock futures currently point to a flat to slighly lower start for the session. However, Bristol Myers Squibb (BMY) shares are up 5% in premarket trade as morning participants respond to news that one of the company's drugs met its primary endpoint in a Phase III study. In-line earnings from Walgreen (WAG) have been shrugged off, but retailers are seeing some strong interest after Express (EXPR) posted an upside earnings surprise and issued an in-line forecast to help drive its shares up more than 3% ahead of the open. The resignation of Hot Topic's (HOTT) CEO has sent shares of the apparel and accessories retailer up more than 6% in premarket trade. Dollar General (DG) shares are up 7% in premarket trade following better-than-expected earnings and upside guidance. Canadian Pacific (CP) shares were recently quoted 5% lower in response to downside guidance. Fellow rail carrier Norfolk Southern (NSC) is under more moderate pressure following an unfavorable ruling. The economic calendar is essentially empty for today.

07:00 am : [BRIEFING.COM] S&P futures vs fair value: -0.30. Nasdaq futures vs fair value: -5.50.

06:59 am : Nikkei...9608.32...+401.60...+4.40%. Hang Seng...22857.90...+172.70...+0.80%.

06:59 am : FTSE...5791.18...+5.10...+0.10%. DAX...6812.70...-3.40...-0.10%.

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 1 guest


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