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 Post subject: April 25th Monday 2011 Emini TF (No Trades Personal Day Off)
PostPosted: Wed Apr 27, 2011 5:01 am 
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Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)

Quote:
No trades today...here in Canada it's still a holiday along with being a holiday in European and Asia markets. In contrast, U.S. markets were open but I decided not the trade the Emini TF to spend family time with my kids.

Trade Performance for Today: +0.00 points or $0 dollars in the Russell 2000 Emini TF ($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=819.

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=137&t=1015

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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 End Mixed Amid Investor Caution
Attachment:
042511-Key-Price-Action-Markets.png
042511-Key-Price-Action-Markets.png [ 509.94 KiB | Viewed 308 times ]

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

By Ben Rooney, staff reporter
April 25, 2011: 5:08 PM ET

NEW YORK (CNNMoney) -- U.S. stocks ended mixed Monday, with technology shares rising modestly, amid a pause in the flow of corporate results and ahead of a statement from the Federal Reserve later this week.

In the commodities market, gold and silver prices held gains but closed off session highs. Oil held near $112 a barrel.

The Dow Jones industrial average (INDU) fell 26 points, or 0.2%, to 12,479. The S&P 500 (SPX) slipped 2 points, or 0.1%, to 1,335. But the Nasdaq Composite (COMP) bucked the trend, rising nearly 6 points, or 0.2%, to 2,825.

Stocks retreated after the Dow ended last week near a 3-year high on a batch of strong corporate earnings.

While there were no top-tier corporate results released Monday, the week ahead brings quarterly results from nine Dow components and 180 members of the S&P 500.

Shares of Netflix (NFLX) fell nearly 5% in extended hours after the company reported strong quarterly gains in sales and profits, but offered a conservative outlook for the current quarter.

Investors were also awaiting comments from Federal Reserve chairman Ben Bernanke, who is scheduled to hold a first-ever news conference Wednesday after the central bank releases its official policy statement.

Ryan Larson, a senior equity trader at RBC Global Asset Management, said corporate reports due after the closing bell could help set the tone for trading in the following session. But he expects the market to drift between small gains and losses in the meantime as investors hold off on big bets before hearing from Bernanke.

The market was closed Friday in observance of Good Friday.

Currencies and commodities: Gold futures for June delivery rose $4.70 to $1,508.70 an ounce, after setting a new intraday trading high of $1,518.60 earlier Monday.

Silver futures for May delivery were up $1.33 to $47.40 an ounce. Earlier, prices rose to $49.82, near an all-time high.

Oil for June delivery slid 6 cents to settle at $112.23 a barrel.

The dollar fell against the euro and the British pound, but rose against the Japanese yen.

A weaker dollar tends to support prices for commodities that are priced in the U.S. currency. As a result, oil and gold often rise when the greenback retreats.

In addition, precious metals have benefited by growing concerns about inflation, which has taken off in emerging markets and is on the rise in Europe.

Gold and silver are assets that many investors see as a hedge against inflation, since tangible assets tend to hold their value better than stocks or bonds when prices are rising.

* Silver: $50 milestone coming 'any day now'

Economy: Sales of new homes rose more than expected in March, although the weak housing market remains a concern for many investors.

March new-home sales came in at a seasonally adjusted annual rate of 300,000, up 11% from the the revised February rate of 270,000, the Census Bureau said.

Economists were expecting a sales rate of 280,000, according to consensus estimates gathered by Briefing.com.

"Home sales are critical, and even though we may see some marginal improvement, they're still down considerably from where they were before the downturn," said Andy Hugos, financial consultant with LPL Financial.

* Video - Your iPhone knows where you've been

Companies: Shares of Kimberly-Clark (KMB, Fortune 500) were down 2.7% after the maker of paper products said first-quarter earnings fell 6.5% from the same period last year.

World markets: Asian markets ended lower. The Shanghai Composite fell 1.5% and Japan's Nikkei slipped 0.1%.

Stock markets in Britain, Germany, France and Hong Kong were all closed for Easter Monday.

Bonds: The price on the benchmark 10-year U.S. Treasury rose, pushing the yield down to 3.36% from 3.4% late Thursday. The bond market closed early Thursday and remained closed in observance of Good Friday.

Image

Image Yahoo! Finance - Market Update

4:30 pm : Slow news flow made for an uneventful day of trade that led the major equity averages to drift along in mixed fashion all session.

Market participants were provided few directional cues this morning, given that Europe's major bourses were closed for holiday observance and that there were only a handful of corporate-related items and earnings announcements, none of which were of much broad market concern. The economic calendar was only occupied by new home sales, which improved to an annualized rate of 300,000 units in March from a rate of 270,000 units in the prior month. The consensus among economists polled by Briefing.com had been pegged at an annualized rate of 280,000 units.

Stocks also lacked leadership today. For example, tech stocks made up the best performing sector, but they mustered a gain of merely 0.2%. Meanwhile, a 0.6% loss made energy stocks the worst performers. The energy sector's slide stemmed largely from a downturn in oil prices that led the commodity to close pit trade with fractional loss narrowly above $112 per barrel.

A climb in gold prices to a new record of $1519.20 per ounce before pulling back to close pit trade with only a fractional gain at $1510.60 per ounce helped the SPDR Gold Trust ETF (GLD 146.87, +0.13) set its own record high before it pared gains into the close. Meanwhile, a spike in silver prices toward $50 per ounce took the precious metal to its highest level in more than 30 years before it pulled back to close pit trade with a 3.3% gain at $47.56 per ounce. The pullback ate into the gains of the iShares Silver Trust ETF (SLV 45.83, +0.30), which set a new record high on record share volume today.

Overall share volume was paltry this session. In fact, fewer than 700 million shares traded hands on the NYSE. Such a low level of participation reflects the absence of trading catalysts today.

Advancing Sectors: Tech (+0.2%), Utilities (+0.1%), Health Care (+0.1%)
Declining Sectors: Materials (-0.7%), Energy (-0.6%), Consumer Discretionary (-0.3%), Industrials (-0.3%), Consumer Staples (-0.3%), Telecom (-0.2%), Financials (-0.9%)DJ30 -26.11 NASDAQ +5.72 NQ100 +0.3% R2K +0.2% SP400 -0.1% SP500 -2.13 NASDAQ Adv/Vol/Dec 1185/1.49 bln/1401 NYSE Adv/Vol/Dec 1379/695 mln/1640

3:30 pm : Commodities benefited from renewed buying interest this morning, but sentiment deteriorated as the session progressed.

Gold prices climbed to a new record of $1519.20 per ounce this morning, but retreated later in pit trade so that it closed with a fractional gain at $1510.60 per ounce. Silver settled with a 3.3% gain at $47.56 per ounce after it had been as high as $49.82 per ounce, which is its best level in more than 30 years.

Oil prices finished with a fractional loss at $112.17 per barrel after they had been comfortably above $113 per barrel in early pit trade. Although oil prices finished off of their highs, they also finished well above their session lows, which were set just above $111 per barrel.

Natural gas prices were unable to make a similar rebound. Instead, they turned lower just before the start of pit trade and never recovered. Contract prices closed the session with a 0.2% loss at $4.38 per MMBtu. DJ30 -26.83 NASDAQ +4.35 SP500 -1.91 NASDAQ Adv/Vol/Dec 1106/1.23 bln/1478 NYSE Adv/Vol/Dec 1313/490 mln/1662

3:00 pm : Stocks head into the final hour with mixed results. News flow has been slow since the start of the day, so participants are preparing for clearer trading cues, namely the latest round of earnings. Although there aren't many market movers slated for tonight, tomorrow morning features blue chips like 3M (MMM 93.74, -0.18) and Coca Cola (KO 67.65, -0.23). Ford Motor (F 15.53, +0.10), Hershey (HSY 56.60, -0.15), and U.S. Steel (X 51.89, +0.16) are also scheduled for tomorrow morning.DJ30 -26.68 NASDAQ +4.91 SP500 -1.84 NASDAQ Adv/Vol/Dec 1103/1.13 bln/1479 NYSE Adv/Vol/Dec 1324/445 mln/1637

2:30 pm : Stocks continue to muddle along in mixed fashion. The action has kept the Dow in negative territory all day, although at no pont has its loss been material.

Among blue chips, Pfizer (PFE 20.14, +0.35) has been a top performer as the stock rebounds from a slip late last week. Travelers (TRV 61.97, +0.65) is also in strong shape, although the rest of the financial sector is mired near the neutral line. Meanwhile, DuPont (DD 55.05, -0.86) has been a considerable drag on the price-weighted Index. DJ30 -24.90 NASDAQ +4.50 SP500 -1.67 NASDAQ Adv/Vol/Dec 1102/1.02 bln/1457 NYSE Adv/Vol/Dec 1333/411 mln/1614

2:00 pm : Silver prices had been up more than 5% to a new 30-year high of almost $50 per ounce earlier today, but they pulled back to close pit trade at $47.56 per ounce with a gain more on the order of 1%. Amid silver's strength, the iShares Silver Trust ETF (SLV 46.47, +0.94) has been setting record highs, just as it did today. What's more, share volume in SLV is at its highest level in history, so SLV traders are exchanging the most shares ever at the ETF's highest price ever.DJ30 -17.33 NASDAQ +4.57 SP500 -1.12 NASDAQ Adv/Vol/Dec 1123/950 mln/1445 NYSE Adv/Vol/Dec 1329/375 mln/1601

1:30 pm : Stocks have slowly worked their way up to early afternoon highs. Overall action remains unimpressive, though.

The dollar was down markedly against a few competing currencies earlier this morning, but it has trimmed losses so that the Dollar Index is now down only fractionally for the day. The Dollar Index is still down more than 6% for the year, though. DJ30 -30.24 NASDAQ +2.31 SP500 -2.21 NASDAQ Adv/Vol/Dec 1061/875 mln/1497 NYSE Adv/Vol/Dec 1242/350 mln/1683

1:05 pm : A lack of meaningful announcements in the wake of the long, holiday weekend has made for a dull day of trade. As such, the major equity averages have been left to drift listlessly.

Following a three-day weekend that began with the observance of Good Friday, domestic traders returned to the tape today. But with Europe's bourses closed for holiday and Asia's averages having seen varied selling pressure, there weren't many directional cues available for participants.

Data was also limited. Today's primary piece featured new home sales numbers that indicated monthly sales for March climbed more than expected to an annualized rate of 300,000 units.

Corporate news has also been light. Advanced Micro Devices (AMD 8.47, -0.24) is one of the few names that posted quarterly results this morning. Its earnings exceeded expectations, but its outlook dissatisfied investors. Still, relative strength among other tech stocks has kept the overall tech sector near the neutral line.

Johnson Controls (JCI 39.38, -1.35) announced today an upside earnings surprise of its own, but issued downside guidance that has been blamed on disruptions related to the massive earthquake that shook Japan last month.

The scale of Japan's earthquakes caused the country's automakers to more than half their March production levels, relative to the prior year, according to company reports. Still, shares of Toyota (TM 79.33, +1.53) and Honda (HMC 37.68, +0.36) have generally outperformed their U.S. competitors today. DJ30 -35.95 NASDAQ +0.16 SP500 -2.87 NASDAQ Adv/Vol/Dec 1035/810 mln/1513 NYSE Adv/Vol/Dec 1180/325 mln/1740

12:30 pm : The stock market continues to drift along without much direction. The lackluster action has made for a rather dull day of trade.

Part of today's slow pace is owed to a lack of corporate catalysts, namely quarterly earnings. Announcements will pick up tonight, however, with the release of results from more than 40 companies. Tomorrow morning brings another 60 announcements. A full calendar of companies' scheduled announcement dates can be viewed at Briefing.com. DJ30 -32.47 NASDAQ +0.91 SP500 -2.71 NASDAQ Adv/Vol/Dec 1034/730 mln/1492 NYSE Adv/Vol/Dec 1161/297 mln/1735

12:00 pm : Japan's automakers recently announced just how deep the cuts to production were in the wake of last month's massive earthquake. Both Toyota (TM 79.38, +1.58) and Honda (HMC 37.62, +0.30) said their production during March dropped 63% year over year; meanwhile, Nissan (NSANY 18.33, +0.20) said its production was slashed by 52% from prior year levels. Despite those drastic cuts to production last month, shares of Japanese automakers are actually outperforming this session. U.S. automakers General Motors (GM 30.46, -0.49) and Ford (F 15.55, +0.12) are more mixed.DJ30 -36.90 NASDAQ +0.80 SP500 -2.71 NASDAQ Adv/Vol/Dec 1039/665 mln/1466 NYSE Adv/Vol/Dec 1133/268 mln/1751

11:30 am : Although the broad market has drifted down to a modest loss, the tech sector has held steady at the flat line.

Internet software and services stocks have been of particular help to the tech sector. The group, which includes the likes of Akamai (AKAM 40.34, +0.36) and Yahoo! (YHOO 17.23, +0.38), is up 0.6%. Semiconductor stocks are also up a collective 0.6% amid leadership from Intel (INTC 21.79, +0.33) following a disappointing report from Advanced Micro Devices (AMD 8.47, -0.24). DJ30 -50.90 NASDAQ -4.31 SP500 -4.45 NASDAQ Adv/Vol/Dec 936/580 mln/1553 NYSE Adv/Vol/Dec 1002/235 mln/1880

11:00 am : Recent selling pressure has taken the major equity averages to session lows. Overall losses are modest, though.

Energy stocks have led the way lower. The sector is now down 1.0% following oil's retreat into the red. Oil prices were last quoted with a 0.9% loss at $111.45 per barrel.

Among energy plays, oil services stocks like Schlumberger (SLB 87.85, -1.93) and Baker Hughes (BHI 73.46, -1.02) are under some of the most pressure. Integrated plays like Exxon Mobil (XOM 85.98, -0.38) and BP Plc (BP 45.83, -0.20) have managed to limit their losses, though. DJ30 -53.05 NASDAQ -4.17 SP500 -5.02 NASDAQ Adv/Vol/Dec 915/486 mln/1514 NYSE Adv/Vol/Dec 997/200 mln/1838

10:35 am : Commodities sold-off in recent activity as the dollar moves back to the flat line.

Crude oil futures sold-off to $111.00 during this sell-off and is now over 2% lower than from its session highs of around $113.40/barrel hit just over an hour ago. Current crude is down 0.7% at $111.53/barrel.

Natural gas, which has been in negative territory since 9:00am ET, extended losses as well and hit new session lows now at $4.35 and is currently at that level, down 1.5%.

Gold fell into the red, but is now just above the unchanged line at $1504.70 +0.90. Overnight, gold chopped around the $1518.00 level and began its sell-off this morning about 45 minutes before pit trading began. Silver also dipped into negative territory after being over 4% higher earlier this morning in the recent sell-off. However, along with gold, silver is now modestly higher again, currently at $46.20 +0.15
DJ30 -42.99 NASDAQ -1.65 SP500 -4.11 NASDAQ Adv/Vol/Dec 1038/374.8 MLN/1351 NYSE Adv/Vol/Dec 1107/161.7 MLN/1660

10:05 am : The broad market continues to muddle along in mixed fashion, although the tech sector is slowly emerging as a source of leadership. Tech stocks started the session at the flat line, but the sector is now up to a 0.3% gain.

Just released, new home sales for March increased by 30,000 month over month to an annualized rate of 300,000 units, which is greater than the rate of 280,000 units that had been expected, on average, among economists polled by Briefing.com.

Advancing Sectors: Tech (+0.3%), Financials (+0.2%), Utilities (+0.1%)
Unchanged: Industrials, Health Care
Declining Sectors: Consumer Discretionary (-0.1%), Energy (-0.2%), Telecom (-0.2%), Materials (-0.3%), Consumer Staples (-0.4%)DJ30 -20.81 NASDAQ +3.84 SP500 -0.42 NASDAQ Adv/Vol/Dec 1123/226 mln/1197 NYSE Adv/Vol/Dec 1304/105 mln/1408

09:45 am : A lack of leadership has left the major equity averages to move in mixed fashion during the first few minutes of trade.

Most of the major sectors in the S&P 500 are drifting lower, but tech -- the largest by market weight -- remains near the neutral line. Monster Worldwide (MWW 18.18, +0.45) has helped prop up the sector, following its upgrade by analysts at UBS. Advanced Micro Devices (AMD 8.59, -0.12) is a source of weakness in the tech space, though. The stock's slip comes as tepid guidance from the firm overshadows news of its better-than-expected earnings. DJ30 -19.64 NASDAQ +0.90 SP500 -1.55 NASDAQ Adv/Vol/Dec 993/135 mln/1263 NYSE Adv/Vol/Dec 1087/70 mln/1575

09:15 am : S&P futures vs fair value: -0.80. Nasdaq futures vs fair value: +2.80. Stock futures point to a rather mixed start for trade. The lack of direction is of little surprise, given that news flow has been slow this morning and that overseas markets have been of little guidance (Europe's bourses are closed for holiday observance and varied degrees of selling pressure weighed on most of Asia's major averages overnight). There haven't been any economic items posted at this point either, although the latest new home sales figures are due later (10:00 AM ET). As for the dollar, it continues to come under pressure. In fact, the dollar is currently by 0.3% against the euro at $1.461, which puts it back near the 16-week high that it set late last week. Amid the dollar's doldrums, commodities continue to climb, such that gold set a record high above $1519 per ounce and silver set a new 30-year high near $50 per ounce earlier this morning.

09:05 am : S&P futures vs fair value: -1.30. Nasdaq futures vs fair value: +2.30. Commodities remain in strong shape this morning. Oil prices recently pushed to morning highs so that futures contracts now quote the commodity at $113.25 per barrel, which makes for a 0.9% gain. Meanwhile, gold prices are up 0.7% to $1513.70 per ounce and silver prices are up 4.9% to $48.30 per ounce. Earlier this morning gold prices set a new record high just above $1519 per ounce and silver set a new 30-year high of $49.82 per ounce. Ongoing weakness in the dollar continues to help the case for commodities.

08:35 am : S&P futures vs fair value: -0.30. Nasdaq futures vs fair value: +3.30. Europe's major bourses remain closed for holiday observance, but France released a small dose of data. The country's Business Confidence reading for April came in at 110, which is unchanged from the prior month. However, its Business Survey of Overall Demand for April fell to 21.0 from 29.0 in March.

Many of Asia's averages stayed open for trade on Monday, although Hong Kong's Hang Seng was closed. Mainland China's Shanghai Composite closed with a 1.5% loss. Financials were among the more negative influences on trade there, but overall action was weighed down by concern about the implications of possible monetary policy tightening. Japan's Nikkei managed to limit its loss to only 0.1%. Tokyo Electric Power, or TEPCO, was a top performer. Fuji Electric was also strong. But their efforts were undermined by weakness in the likes of Tokyo Gas, Denso Corp, Pioneer Corp, and Nissan Motor (NSANY). According to weekend reports, Japan's officials approved an emergency budget that is aimed at providing aid to earthquake-stricken entities. Setbacks stemming from the massive earthquake last month are widely expected to eat into economic growth forecasts, which Japan's central bank is scheduled to issue later this week.

08:05 am : S&P futures vs fair value: +0.70. Nasdaq futures vs fair value: +5.30. U.S. markets will re-open today, following a long, holiday weekend. Neither news flow nor action among overseas markets have given much guidance -- Europe's bourses remain closed for holiday observance and many of Asia's major averages wrestled with varied degrees of selling pressure overnight. The economic calendar is also light; today's feature report is the latest in new home sales (10:00 AM ET). Meanwhile, commodities continue to climb. As such, silver prices are presently up 5.0% to $48.35 per ounce. Earlier this morning, it was near $50 per ounce, which made for its highest level in more than 30-years. As for gold, the yellow metal was recently quoted with a 0.7% gain at 1514.30 per ounce. The bounce by the precious metals comes amid continued doldrums for the dollar, which is down another 0.2% to $1.459 against the euro this morning.

06:49 am : [BRIEFING.COM] S&P futures vs fair value: +1.50. Nasdaq futures vs fair value: +6.30.

06:49 am : Nikkei...9671.96...+10.30...-0.10%. Hang Seng...Holiday.........

06:49 am : FTSE...Holiday......... DAX...Holiday.........



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)
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questions@thestrategylab.com
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