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 Post subject: May 3rd Tuesday 2011 Emini TF ($TF_F) points +8.40
PostPosted: Tue May 03, 2011 11:36 pm 
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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)
Attachment:
050311-wrbtrader-PnL-Blotter-Profit-840.png
050311-wrbtrader-PnL-Blotter-Profit-840.png [ 28.5 KiB | Viewed 306 times ]

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

Trade Performance for Today: +8.40 points or $840.00 dollars in the Russell 2000 Emini TF ($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=90&t=828.

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=138&t=1058

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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 Struggle As Oil Prices Decline
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click on the above image to view today's price action of key markets

By Ken Sweet, contributing writer
May 3, 2011: 4:52 PM ET

NEW YORK (CNNMoney) -- U.S. stocks struggled for a second session on Tuesday, as disappointing corporate earnings and a steep drop in the price of oil weighed on the broader market.

The Dow Jones industrial average (INDU) finished mostly unchanged, rising less than a point, to close at 12,808.

The biggest drag on blue chips was Pfizer (PFE, Fortune 500), which reported earnings per share that beat by just a penny. The drugmaker reaffirmed its outlook, but investors were hoping for more. Shares fell 3%.

Financial shares were among the top performers in the Dow, with Bank of America (BAC, Fortune 500) and JPMorgan Chase (JPM, Fortune 500) closing up more than 1.5%.

The S&P 500 (SPX) fell 5 points, or 0.3%, to 1,357; and the Nasdaq Composite (COMP) shed 22 points, or 0.8%, to 2,742.

The energy sector was the biggest weight on the broader market as oil prices retreated sharply, settling down 2.2% to $111.05 a barrel. Chevron (CVX, Fortune 500) shares fell 2%, ConocoPhilips (COP, Fortune 500) shares dropped more than 4% and Exxon Mobil (XOM, Fortune 500) was down less than 2%.

Meanwhile, the tech-heavy Nasdaq was weighed down by shares of Sears Holdings (SHLD, Fortune 500). The company's stock fell 10%, after it said its same-store sales fell nearly 4% in the latest quarter. Sears is holding its shareholder meeting Tuesday.

Semiconductor makers Nvidia (NVDA) and Micron Technologies (MU, Fortune 500) contributed to the Nasaq's decline, with shares of both down more than 4%.

On Monday, U.S. stocks finished slightly lower, as investors moved past their initial positive reaction to news that Osama bin Laden had been killed.

Traders and investors said it will take more to sustain a longer rally.

"Fundamentally, not much as has changed," said Zahid Siddique, Associate Portfolio Manager of Gabelli Equity Trust. "We still have all the macro issues, whether it is the Middle East, Europe, Japan."

Monday's losses ended a five-day winning streak for the S&P 500 and Dow.

April was the strongest month for stocks since December. In fact, stocks have been steadily marching higher since the start of the year. But risks remain: the economy is far from out of the woods. And, while earnings have been strong, investors remain nervous about whether companies can sustain their growth.

The government's main jobs report for April is due out Friday, and investors will be paying close attention. Jobs remain one of the biggest -- if not the biggest -- drivers of the economic recovery.

According to a CNNMoney survey, economists expect 193,000 jobs to have been added in April.

* Economic slowdown: Blip or start of a dip?

Investors need to see a positive trend in the labor market, and they haven't seen that yet.

"Earnings season was the catalyst to drive this market higher for the last couple weeks, but now we need the economic data to catch up," said Marc Pado, chief market strategist with Cantor Fitzgerald.

Federal Reserve chairman Ben Bernanke has maintained his position that interest rates will remain low for the foreseeable future -- despite growing concerns of inflation.

Meanwhile, emerging markets are showing concern about inflation: India announced that it raised its key lending rate to 7.25% from 6.75%.

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

Gold futures for June delivery sank $24.50, to $1532.40 an ounce.

Silver futures for May delivery slid more than 10%, to $41.15 an ounce. Silver has come under pressure after the CME raised its margins on orders for the precious metal, meaning traders have to leave more on the table per contract, so many are readjusting their portfolios.

Andrew Lebow, broker with MF Global said the raise in margin requirements for silver may have increased concerns that margin requirements for other commodities may need to increase as well.

Economy: The Commerce Department reported factory orders rose 3% in March, which was better than the 2.5% rise economists had forecast.

Companies: General Motors (GM) shares rose 2.5%, after the company reported a 26% rise in April monthly car sales. Competitor Ford (F, Fortune 500) reported a 16.4% rise in April sales, its shares rising 0.5% on the news.

Credit card processor MasterCard (MA, Fortune 500) reported earnings per share of $4.29, up 24% from the same time a year ago. The company cited an 11.1% increase in transactions as the reason for the first-quarter bump. Shares rose 3%.

Bonds: The price on the benchmark 10-year U.S. Treasury edged higher, pushing the yield down to 3.27% from 3.29% late Monday.

World markets: European stocks closed mixed. Britain's FTSE 100 rose 0.2%, the DAX in Germany fell 0.4% and France's CAC 40 fell 0.3%.

Asian markets also ended the session mixed. The Shanghai Composite rose 0.7%, while the Hang Seng in Hong Kong dipped 0.4%. Japan's Nikkei was closed for holiday.

Image

Image Yahoo! Finance - Market Update

4:30 pm : A slump among energy stocks dragged down the broad market, but afternoon support helped the major equity averages recover into the close.

Trade was generally unimpressive for the first half of the day. Selling eventually intensified to take the Nasdaq down to a loss of more than 1%. Akamai Tech (AKAM 33.46, -0.77) and Amazon.com (AMZN 198.45, -2.74) were among its heaviest drags. Nasdaq component Foster Wheeler (FWLT 34.20, -1.05) was also a heavy drag following news that the oil services company's earnings came short of the consensus estimate.

Energy stocks were weak across the board. Even Anadarko Petroleum (APC 78.51, -1.84) dropped sharply, despite a much stronger-than-expected earnings report. Overall, energy stocks fell to a 2.4% loss. A 2.2% drop in oil prices to $111.05 per barrel didn't bode well for the energy sector. Oil prices haven't been that low in more than two weeks.

The broad market did a decent job of limiting selling pressure, especially since today's leaders were utilities stocks (+0.7%) and telecom stocks (+1.5%) -- neither has much sway with the market, given their lack of weight.

Blue chip Pfizer (PFE 20.44, -0.58) fell sharply, even though the pharmaceutical play posted an upside earnings surprise. Its weakness in the Dow was offset by Intel (INTC 23.23, +0.32) and Bank of America (BAC 12.60, +0.26).

A big earnings beat by MasterCard (MA 282.38, +7.09) helped make the stock a top performer; shares set a near three-year high.

Even though today's action wasn't very exciting, and there weren't many catalysts to bring in traders from the sidelines, share volume on the NYSE hit 1 billion shares for the first time in about a month.

Advancing Sectors: Telecom (+1.5%), Utilities (+0.7%), Financials (+0.4%), Consumer Staples (+0.3%)
Declining Sectors: Tech (-0.2%), Industrials (-0.3%), Health Care (-0.3%), Consumer Discretionary (-0.5%), Materials (-1.0%), Energy (-2.4%)DJ30 +0.15 NASDAQ -22.46 NQ100 -0.5% R2K -1.3% SP400 -1.1% SP500 -4.60 NASDAQ Adv/Vol/Dec 782/2.23 bln/1824 NYSE Adv/Vol/Dec 1042/1.00 bln/1949

3:30 pm : It was another large move lower for July silver, which dropped 7.9% to close at $42.42 per ounce, as new margin requirements set in at the close of pit trade, forcing some market participants to liquidate their positions. Silver extended its sell off in electronic trade, where it notched fresh lows at $40.81 per ounce, marking its lowest levels since mid-April. June gold shed 1.1% to close at $1540.20 per ounce, closing lower for a second consecutive session. Modest strength in the dollar weighed on gold.

June crude oil shed 2.2% to settle at $111.05 per barrel, weighed on by demand concerns as well as the modest strength in the dollar. Crude oil's lows mark its lowest levels in over 2 weeks. It was an uneventful session for June natural gas, which shed 0.5% to close at $4.67 per MMBtu. DJ30 -23.16 NASDAQ -27.76 SP500 -7.18 NASDAQ Adv/Vol/Dec 736/1.8 bln/1859 NYSE Adv/Vol/Dec 923/733.8 mln/2063

3:00 pm : Stocks continue to trade at session lows as they head into the final hour of trade. CBS (CBS 25.06, -0.59), Comcast (CMCSA 26.41, -0.27) and Las Vegas Sands (LVS 45.47, -2.04) are scheduled to report after the bell. Tomorrow morning brings Kellogg (K 57.12, -0.15) and Time Warner (TWX 37.34, -0.50).DJ30 -53.96 NASDAQ -36.84 SP500 -11.26 NASDAQ Adv/Vol/Dec 682/1.69 mln/1912 NYSE Adv/Vol/Dec 811/659 mln/2150

2:30 pm : Steady, widespread weakness continues to keep the major equity averages at session lows. Only telecom (+1.2%) and utilities (+0.7%) have displayed any real form of strength, but their lack of weight in the market has undermined their leadership.DJ30 -35.72 NASDAQ -33.46 SP500 -8.81 NASDAQ Adv/Vol/Dec 712/1.58 bln/1874 NYSE Adv/Vol/Dec 889/610 mln/2066

2:00 pm : Recent selling pressure has paused, leaving stocks to rest at session lows. The retreat hurt energy stocks the most; the sector is now down 2.6%, which is almost double the loss of the next worst performing sector (materials, -1.4%). Energy's moves today have been tied closely to those of oil prices, which are now at $110.60 per barrel for a fresh session low and a 2.6% loss.DJ30 -24.22 NASDAQ -30.92 SP500 -7.59 NASDAQ Adv/Vol/Dec 752/1.45 bln/1816 NYSE Adv/Vol/Dec 906/555 mln/2031

1:30 pm : Sellers have intensified their efforts in the past few minutes. Their pressure has put both the Nasdaq and the S&P 500 at session lows. The broad market's loss is still less than half of what the Nasdaq has suffered. Shares of Internet search heavyweights Google (GOOG 532.21, -6.35) and Baidu.com (BIDU 140.62, -6.85) have been particularly burdensome on the Nasdaq.DJ30 -21.68 NASDAQ -33.57 SP500 -7.42 NASDAQ Adv/Vol/Dec 721/1.33 bln/1817 NYSE Adv/Vol/Dec 914/500 mln/2023

1:00 pm : Increasing selling pressure has taken the Nasdaq down to a substantial loss. The Dow and S&P 500 have done a better job resisting pressure.

Stocks lacked direction in the early going. The waffling followed a lackluster finish to the prior session and generally weak trade among many major markets abroad. MasterCard (MA 282.88, +7.59) and Dow component Pfizer (PFE 20.44, -0.58) both posted upside earnings surprises, but that hasn't done anything for the overall market. As for their individual reactions, shares of PFE have forfeited the gains that they acheived in the past few sessions, while MA has climbed to its highest level in more than two years.

Although Anadarko Petroleum (APC 80.03, -0.32) posted a much better-than-expected earnings report, the energy sector has been weak all session. Its 1.9% loss is partly attributable to renewed selling against oil, which was last quoted with a 1.1% loss at $112.25 per barrel.

A retreat by the dollar to a slight loss has failed to relieve oil of selling pressure. Precious metals have also been unable to catch a bid. In turn, gold prices are down 1.1% to $1540 per ounce. Silver prices have extended their prior session sell-off with a 7.4% slump to $42.65 per ounce. Silver's weakness has been exacerbated by news of another margin increase for silver traders.

Defensive-oriented utilties stocks and telecom stocks have outperformed today. Utilities are up 1.1% following an upside earnings surprise from Duke Energy (DUK 18.90, +0.10). FirstEnergy (FE 41.97, +2.35) came short of the consensus earnings estimate for the latest quarter, but it is actually a top performer in the sector. As for telecom issues, their 1.3% gain has been led by MetroPCS (PCS 17.83, +1.35), which also came short of the consensus earnings call. DJ30 -13.17 NASDAQ -27.08 SP500 -5.75 NASDAQ Adv/Vol/Dec 798/1.21 bln/1725 NYSE Adv/Vol/Dec 962/460 mln/1935

12:30 pm : The stock market is without direction for the second straight session. The lackluster trade is partly a consequence of so few catalysts, given the absence of meaningful data in recent days and the shift in the earnings announcement lineup away from blue chips and industry bellwethers to names with less quality.

Even though the stock market continues to chop along, Treasuries are still having a quiet session. As such, the benchmark 10-year Note is up only a handful of ticks.DJ30 +20.19 NASDAQ -20.19 SP500 -2.50 NASDAQ Adv/Vol/Dec 818/1.11 bln/1679 NYSE Adv/Vol/Dec 1050/420 mln/1842

12:00 pm : Telecom and utilities are today's top two performing groups. Despite their stodginess, both sectors are up 1.3%. Among telecom plays, MetroPCS (PCS 17.97, +1.49) is a leading performer; its surge this session took the stock to a 52-week high, despite an earnings miss. FirstEnergy (FE 41.97, +2.35) also came short of the consensus earnings estimate for the latest quarter, but it has been a top performing utilities stock.DJ30 +25.24 NASDAQ -15.62 SP500 -1.44 NASDAQ Adv/Vol/Dec 832/980 mln/1639 NYSE Adv/Vol/Dec 1073/375 mln/1802

11:30 am : The major equity averages are working their way up from session lows, but the Nasdaq continues to wrestle with relatively stiff selling pressure. Its weakness comes largely as a result of losses among the likes of Cisco (CSCO 17.41, -0.17), Akamai Tech (AKAM 33.80, -0.43), and Broadcom (BRCM 34.88, -0.40). However, Apple (AAPL 348.87, +2.59) and Intel (INTC 23.42, +0.51) have been sources of support.DJ30 +15.59 NASDAQ -15.86 SP500 -2.84 NASDAQ Adv/Vol/Dec 842/860 mln/1594 NYSE Adv/Vol/Dec 1020/330 mln/1813

11:00 am : Both the Nasdaq and S&P 500 descended to new session lows in the past hour of trade. The Dow has joined them in the red, but it is still above the depths that it probed in the early going.

Energy stocks are still this session's worst performers. After a brief pause, the sector has extended its slide so that it is now down 1.7% for the day.

In contrast, utilities stocks are collectively up 1.0%. The sector's strength follows an upside earnings surprise from Duke Energy (DUK 18.99, +0.19). DJ30 -7.87 NASDAQ -19.52 SP500 -5.37 NASDAQ Adv/Vol/Dec 794/722 mln/1589 NYSE Adv/Vol/Dec 933/270 mln/1869

10:30 am : Persistent pressure has kept commodities in the red this morning. Specifically, oil prices are down 1.0% to $112.35 per barrel. It had been below $112 per barrel earlier this morning.

Natural gas prices were essentially flat in early pit trade, but they are now down 0.4% to $4.75 per MMBtu.

Silver prices have extended their prior session sell-off by sliding another 5.5% to $43.55 per ounce. News that margins for silver trading has exacerbated the precious metal's weakness. As for gold, the yellow metal was last priced at $1538.40 per ounce, which makes for a 1.2% loss.

The stiff selling effort surrounding commodities comes despite a dip by the dollar, which had been up modestly against a basket of major foreign currencies, but is now up only fractionally. DJ30 -0.61 NASDAQ -16.51 SP500 -4.27 NASDAQ Adv/Vol/Dec 882/570 mln/1467 NYSE Adv/Vol/Dec 961/215 mln/1822

10:00 am : Stocks were sliding in the first few minutes of trade, but they have started to rebound so that overall trade is now mixed.

Factory orders figures for March were just posted. They increased by 3.0%, which is greater than the 1.8% increase that had been expected, on average, among economists polled by Briefing.com.

Advancing Sectors: Utilities (+0.7%), Telecom (+0.7%), Financials (+0.5%)
Unchanged: Tech, Industrials
Declining Sectors: Energy (-1.1%), Materials (-0.2%), Health Care (-0.2%), Consumer Discretionary (-0.1%), Consumer Staples (-0.1%)DJ30 +18.62 NASDAQ -3.44 SP500 -0.59 NASDAQ Adv/Vol/Dec 1041/330 mln/1189 NYSE Adv/Vol/Dec 1187/130 mln/1495

09:45 am : Energy stocks are leading losses in the early going. The sector has already dropped 1.3%, which comes on top of its 1.3% loss in the prior session. Massey Energy (MEE 66.10, -1.61), which is being acquired by Alpha Natural Resources (ANR 55.86, -1.71), is one of the weaker components in the sector, following its quarterly report last night. Anadarko Petroleum (APC 81.10, +0.75) is one of the few energy plays that has managed to push higher, thanks to much better-than-expected earnings.DJ30 -18.85 NASDAQ -11.81 SP500 -4.54 NASDAQ Adv/Vol/Dec 758/215 mln/1375 NYSE Adv/Vol/Dec 811/90 mln/1846

09:15 am : S&P futures vs fair value: -3.90. Nasdaq futures vs fair value: -3.30. The cash market is expected to open with a modest loss, based on the current gap between stock futures and fair value. The half-hearted selling effort comes after stocks failed to sustain early gains in the prior session and then logged their first loss in five sessions. Weakness among many major overseas markets hasn't helped sentiment this morning. Although MasterCard (MA) and Dow component Pfizer (PFE) recently reported earnings, which exceeded what had been expected, the lineup of announcements is shifting to less widely held names. With fewer blue chips reporting, overall results are becoming more mixed. Still, quarterly reports continue to act mostly as individual catalysts rather than broad market drivers. The dollar remains a talking point in the financial media. It bounced back from a fresh two-year low in the prior session, but some of its gain has been forfeited so that it is now up only 0.1% against a basket of major foreign currencies. Commodities continue to come under pressure even after the dollar's dip off of its morning high.

09:00 am : S&P futures vs fair value: -4.30. Nasdaq futures vs fair value: -4.10. The dollar has eased off of its morning high so that it is now up a mere 0.1% against a basket of major foreign currencies, but that hasn't really helped commodities. As such, oil prices are down 1.3% to $112 per barrel in the first few minutes of pit trade; gold prices are down 0.8% to $1544 per ounce, and; silver prices have dropped 5.5% to $43.50 per ounce in an extension of their sell-off in the prior session. Weakness in silver has been exacerbated by another increase in margin requirements for traders.

08:35 am : S&P futures vs fair value: -4.20. Nasdaq futures vs fair value: -4.10. Europe's major bourses are under pressure today. Specifically, Germany's DAX is currently down 0.7%. Automaker Volkswagen has been a heavy drag. Its peer Daimler (DAI) has also traded lower. In France, the CAC is off by 0.6%. STMicroelectronics is the only name in the 40-member Index that has put together a gain. Britain's FTSE was closed yesterday for holiday observance, but today it is down 0.2%. The latest survey readings featured a Lloyds Business Barometer reading for the United Kingdom in April. It came in at 30.0, up from 1.0 in the prior month. The United Kingdom Manufacturing PMI for April came in at 54.6, which is less than the downwardly revised 56.7 that was recorded for the prior month. Eurozone data featured a Producer Price Index for March that increased by 0.7%, just as it did in the prior month.

In Asia, Japan's Nikkei was closed for holiday observance and will remain so until Friday. However, China's Shanghai Composite re-opened for trade last night, when it put together a 0.7% gain. Materials plays were among top performers. Materials and other natural resource plays stocks were more mixed in Hong Kong, where the Hang Seng shed 0.4% in its latest round of trade. Data for the China region featured a Non-manufacturing PMI for April that came in at 62.5, up from 60.2 in the prior month. China's Leading Index for March made an incremental improvement to 101.71 from 101.42 in February. In India, the Sensex fell 2.4% amid news that the country's central bank hiked its policy rate by 50 basis points, which is greater than what many had anticipated.

08:05 am : S&P futures vs fair value: -5.40. Nasdaq futures vs fair value: -6.10. Stock futures are under a bit of pressure this morning. Their weakness comes in the wake of some rather stiff selling abroad and a bounce by the dollar, which is currently up 0.3% against a collection of major foreign currencies. Just yesterday the Dollar Index descended to a new two-year low. The greenback's bounce this morning has put pressure on commodities. Another margin increase for silver traders has been doubly damaging to silver prices, which were last quoted with a 5.6% loss at $43.50 per ounce. Premarket participants have been somewhat unresponsive to upside earnings surprises from Dow component Pfizer (PFE), MasterCard (MA), and Duke Energy (DUK). Data are limited to the latest factory orders figures, which are due at 10:00 AM ET.

06:42 am : [BRIEFING.COM] S&P futures vs fair value: -6.60. Nasdaq futures vs fair value: -8.10.

06:42 am : Nikkei...Holiday......... Hang Seng...23633.25...-87.60...-0.40%.

06:42 am : FTSE...6067.74...-2.20...0.00. DAX...7461.85...-65.80...-0.90%.

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
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