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 Post subject: May 6th Friday 2011 Emini TF ($TF_F) points +14.30
PostPosted: Sat May 07, 2011 7:13 am 
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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:
050611-wrbtrader-PnL-Blotter-Profit-1430.png
050611-wrbtrader-PnL-Blotter-Profit-1430.png [ 27.82 KiB | Viewed 309 times ]

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

Trade Performance for Today: +14.30 points or $1430.00 dollars in the Russell 2000 Emini TF ($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=833.

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 End The Week Lower
Attachment:
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click on the above image to view today's price action of key markets

By Ken Sweet, contributing writer
May 6, 2011: 4:45 PM ET

NEW YORK (CNNMoney) -- Stocks posted moderate advances Friday, as a steep sell-off in the euro dampened U.S. investor enthusiasm about a stronger-than-expected jobs report.

The Dow Jones industrial average (INDU) advanced 55 points, or 0.4%, to 12,639. The S&P 500 (SPX) rose 5 points, or 0.4%, to 1,340 and the Nasdaq Composite (COMP) rose 13 points, or 0.5%, to close at 2,828.

Despite Friday's modest gains, all three indexes closed down more than 1% this week in the wake of falling commodity prices and mediocre economic data.

On Friday, stocks eased off the session's highs after the German magazine Der Spiegel reported that Greece was considering abandoning the euro.

The news sent the euro down more than 1.1% against the dollar. The dollar also gained strength against the Japanese yen but fell versus the British pound.

While it's unlikely that Greece will actually abandon the euro, it's something investors will monitor closely.

"It would be very difficult for Greece to leave the euro, especially since the Greek bailout package was created for the purpose of keeping them in the eurozone," said Peter Maris of Resource Financial Group.

The Dow had been up as much 175 points as U.S. investors cheered a much better than expected jobs report.

The U.S. economy added 244,000 jobs in April, although the unemployment rate ticked higher to 9% from 8.8%. Economists surveyed by CNNMoney were forecasting employers added 185,000 jobs in the month, with the unemployment rate remaining at 8.8%.

"Everyone was looking for this economy to find some footing, and they found it in today's jobs numbers," said Anthony Conroy, head trader at BNY ConvergEx.

Traders were especially heartened by the jobs numbers because expectations had been low -- particularly following Thursday's dismal initial jobless claims data, and Wednesday's mediocre ADP private-payrolls reports.

Friday marked the one-year anniversary of Wall Street's 'flash crash', which sent the Dow industrials plunging nearly 1,000 points in less than 20 minutes.

Commodities: Investors continued to focus on oil, gold, and silver prices, following big declines posted earlier this week. The sell-off in the euro pushed oil and silver prices down even further.

Oil for June delivery settled down $2.62, or 2.6%, to $97.18 a barrel. Crude oil prices plunged 8.6% Thursday to close below $100 a barrel for the first time since mid-March.

Some metals showed signs of life Friday, with gold advancing $10.40 to $1,491.70 an ounce and copper up 3%.

However, silver was down 3% to $35.21 an ounce.

* Video - Silver losing its shine

After 44 straight days of increases, the national average price for a gallon of regular unleaded gasoline decreased 0.1 cent Friday, according to AAA. The average price is now $3.984 a gallon.

Companies: Insurer AIG (AIG, Fortune 500) late Thursday reported a loss from continuing operations of $1.41 per share for the first three months of the year, compared to a profit of $2.16 per share over the same period a year ago. Despite the weak earnings report, shares of AIG fell 0.3%.

Shares of Citigroup (C, Fortune 500) rose 1% ahead of the finalization of company's reverse-stock split. Citi shareholders will get one new share for every 10 shares they currently own.

World markets: European stocks closed solidly higher, following the U.S. government's monthly jobs report. Britain's FTSE 100 ticked up 1%, the DAX in Germany added 1.6% and France's CAC 40 rose 1.3%.

Asian markets ended lower. The Shanghai Composite shaved 0.3%, the Hang Seng in Hong Kong lost 0.4% and Japan's Nikkei tumbled 1.5%.

Bonds: The price on the benchmark 10-year U.S. Treasury rose Friday, pushing the yield down to 3.14%.

Image

Image Yahoo! Finance - Market Update

4:30 pm : A pleasing payrolls report supported a positive tone among participants on the first anniversary of the "flash crash." Stocks responded by climbing more than 1%, but a loss of momentum left them to drift lower in afternoon trade.

The S&P 500 fell in each of this week's first four sessions for a cumulative loss of close to 2%, but buyers were brought back into the action by news that nonfarm payrolls climbed by 244,000 and private payrolls climbed by 268,000 during April. Economists polled by Briefing.com had expected, on average, respective increases of 185,000 and 200,000. Such a substantial increase overshadowed the headline unemployment rate, which came in at 9.0% to exceed the 8.8% consensus.

Broad buying interest helped the S&P 500 climb 1% to reclaim about half of what it had lost earlier this week, but buying interest began to wane by midday.
Energy stocks saw some of the most dramatic movement. Given that the sector had dropped almost 7% during the four previous sessions, many participants moved to grab bargains and, as a result, sent the sector more than 2% higher. Energy stocks failed to sustain that move, though; they finished with a gain of only 4%.

Part of the market's inability to preserve its gain stemmed from a lack of leadership. Industrial stocks (+0.8%) and materials stocks (+0.7%) finished as the top performers, but neither sector has much weight in the market. Despite that, stocks were able to settle with modest gains after the S&P 500 came in contact with the neutral line and then held above it.

Investors resumed their rotation into Treasuries as stocks surrendered their gains. Although buying in Treasuries wasn't robust, the yield on the benchmark 10--year Note eased to a new 2011 low of about 3.14%.

The dollar continued to attract interest as well. Its 1.0% advance made for an impressive follow up to the 1.4% spike that it staged in the prior session. Together they made for the greenback's best performance in months. While the dollar's advance in the prior session was helped by cautious commentary about monetary policy from the European Central Bank, today's gain was helped along by reports that Greece may be considering defecting from the eurozone.

Commodities continued to come under pressure, with few exceptions. General weakness in the complex took the CRB Commodity Index down to a 1.1% loss, which fed into a 9.0% drop for this week. Silver and oil had especially poor performances -- crude oil prices finished the week at $97.55 per barrel for a 14% weekly loss while silver prices plummeted 27% this week to $35.52 per ounce.

Advancing Sectors: Industrials (+0.8%), Materials (+0.7%), Health Care (+0.6%), Utilities (+0.5%), Energy (+0.4%), Financials (+0.3%), Tech (+0.3%), Telecom (+0.2%), Consumer Staples (+0.2%)
Unchanged: Consumer Discretionary
Declining Sectors: (None)DJ30 +54.57 NASDAQ +12.84 NQ100 +0.3% R2K +0.5% SP400 +0.3% SP500 +5.10 NASDAQ Adv/Vol/Dec 1537/2.05 bln/1006 NYSE Adv/Vol/Dec 1990/1.03 bln/997

3:30 pm : Commodities had another volatile session that concluded with crude oil prices down $2.25 to $97.55 per barrel after they had traded near the neutral line for a time. Natural gas prices fell about $0.03 to close at $4.30. Silver prices extended their slide to close with a $0.78 loss at $35.52 per ounce. June gold actually gained $12.40 to finish at $1494 per ounce, despite a stronger dollar. DJ30 +43.52 NASDAQ +11.23 SP500 +4.20 NASDAQ Adv/Vol/Dec 1501/1.73 bln/1038 NYSE Adv/Vol/Dec 1863/760 mln/1112

3:00 pm : Stocks head into the final hour with only marginal gains after they had been up more than 1% this morning. Even though stocks are struggling to sustain their gains, they have the potential to end a four session losing streak that has the S&P 500 on pace for a weekly loss of more than 1.5%.

Earnings season continues to wind down. Only a handful of firms are out with their results after the close. Monday morning brings a longer list, but there really aren't any bellwethers in the bunch. Be sure to check out the Briefing.com Investor page for full calendar of events -- its free!DJ30 +37.38 NASDAQ +8.99 SP500 +3.38 NASDAQ Adv/Vol/Dec 1485/1.60 bln/1033 NYSE Adv/Vol/Dec 1795/690 mln/1146

2:30 pm : The stock market's afternoon pullback has caused many traders to rotate back into Treasuries. Although modest, their buying interest has been enough to drive down the yield on the benchmark 10-year Note to a new 2011 low.DJ30 +50.86 NASDAQ +13.97 SP500 +4.37 NASDAQ Adv/Vol/Dec 1593/1.46 bln/932 NYSE Adv/Vol/Dec 1916/630 mln/1021

2:00 pm : Stocks have been grinding lower amid a gradual selling effort. The major equity averages are now at session lows.

Energy stocks have made one of the most pronounced reversals. The sector had been up in excess of 2% this morning, but now it is only up 0.2% for the session. Telecom stocks are also up 0.2%, as a group. The two sectors are presently tied for the worst performers.

Industrial stocks are now this session's frontrunners. The sector's 1.0% gain comes amid leadership from 3M (MMM 95.90, +0.98) and United Technologies (UTX 89.45, +0.92). DJ30 +55.21 NASDAQ +17.28 SP500 +5.36 NASDAQ Adv/Vol/Dec 1677/1.36 bln/831 NYSE Adv/Vol/Dec 2028/580 mln/896

1:30 pm : The broad market has handed back about half of what it had gained earlier today. The downward drift hasn't come as any kind of a direct reaction to a particular news, but it has coincided with the greenback's gradual advance. Buying interest in the dollar has given it a 0.7% lead over a collection of competing currencies.DJ30 +70.57 NASDAQ +19.86 SP500 +7.01 NASDAQ Adv/Vol/Dec 1707/1.20 bln/806 NYSE Adv/Vol/Dec 2122/530 mln/803

1:00 pm : A surprisingly strong jump in jobs during April has helped stocks reclaim what was lost in the past few sessions. The dollar is also attracting buyers.

Nonfarm payrolls climbed by 244,000 and private payrolls climbed by 268,000 in April. Respective increases of 185,000 and 200,000 increase had been expected, on average, among economists polled by Briefing.com. Despite the strong results, the headline unemployment rate came in at 9.0%, which is greater than the 8.8% that had been widely anticipated.

A positive response immediately followed the jobs report. That helped stocks start the session with a strong gain. Energy stocks benefited most from early buying interest. The sector quickly pushed up to a gain of more than 2% as traders moved to scoop up names that they thought had been beaten down during the near 7% drop that the energy sector had suffered in the four prior sessions.

However, energy's gains have been halved in early afternoon trade. The sector's pullback comes conjunction with a downward drift by the broad market. Each major equity average is still up solidly, though.

The dollar is up 0.6% against a basket of major foreign currencies. That puts the dollar up about 2% in two sessions. Its latest leg of gains comes amid rumors that Greece is considering defecting from the eurozone.

Even though the dollar is stronger today, oil prices have rebounded from premarket lows near $89 per barrel so that they now trade with a fractional loss at $99.75 per barrel. Silver prices are down 2.5% to $35.35 per ounce, but up about $2 from their morning lows. Gold has actually advanced 0.5% to $1488.70 per ounce. DJ30 +98.05 NASDAQ +26.89 SP500 +10.65 NASDAQ Adv/Vol/Dec 1745/1.18 bln/761 NYSE Adv/Vol/Dec 2132/475 mln/770

12:30 pm : The euro has dropped sharply against the greenback in recent trade so that it is now at $1.443 with a 0.9% loss. The move comes amid speculation that Greece is considering defecting from the eurozone.

Meanwhile, the stock market has been handing back some of its gains. It is now at its lowest level in over an hour, but gains remain close to 1%. DJ30 +117.50 NASDAQ +33.58 SP500 +12.52 NASDAQ Adv/Vol/Dec 1850/1.08 bln/623 NYSE Adv/Vol/Dec 2297/435 mln/600

12:00 pm : Stocks continue to sport impressive gains. The bias this session is decidedly bullish, given the scope of today's advance and the fact that advancing volume is about 8x greater than declining share volume.

Amid the broad market's bounce, Treasuries have turned lower. Treasuries had been making steady gains in recent sessions, culminating yesterday in a new 2011 low for the yield on the benchmark 10-year Note of about 3.15%. DJ30 +153.26 NASDAQ +40.77 SP500 +16.38 NASDAQ Adv/Vol/Dec 1922/930 mln/531 NYSE Adv/Vol/Dec 2400/370 mln/488

11:30 am : Stocks have steadily extended their advance so that the three major equity averages are at fresh session highs with gains comfortably above 1%.

Natural resource plays continue to attract the most support. In turn, the materials sector is up 2.0% and the energy sector is up 2.2%. Even though natural resource plays are in such strong shape, Olympic Steel (ZEUS 27.82, +0.15) is only up moderately after it posted for the latest quarter earnings that greatly exceeded what had been expected. Peers US Steel (X 46.41, +0.29) and AK Steel (AKS 15.07, -0.02) are laggards, too. DJ30 +164.16 NASDAQ +40.70 SP500 +18.28 NASDAQ Adv/Vol/Dec 1938/786 mln/510 NYSE Adv/Vol/Dec 2402/319 mln/450

11:00 am : Treasuries are off their worst levels of the session, but still trade lower as fast money moved out of the complex following the better-than-expected nonfarm payrolls headline. The long bond has been under pressure since the report, currently trading down 1.2% while maturities across the rest of the complex are seeing minimal to modest losses. The on-the-run 10-yr briefly dipped below yesterday's lows, but quickly recaptured that level as small support near 103 10/32 held. Reactionary selling pushed the 10-yr yield to a session high of 3.24% before it eased back to the 3.20% level. A steeper curve is taking hold with the 2-10-yr spread wider at 263.4 while the 10-30-yr spread is up a couple bps to 112.4. Precious metals have seen a change in fortune with gold up 16 dollars to 1498 and silver off just 10 cents at 36.15.DJ30 +137.37 NASDAQ +31.70 SP500 +14.60 NASDAQ Adv/Vol/Dec 1855/636.5 mln/539 NYSE Adv/Vol/Dec 2288/261.5 mln/511

10:30 am : Silver futures fell sharply in overnight traded and declined to new session lows of $33.25/oz, which was ~8% below yesterday's close. But over the past two hours, silver has managed to erase the majority of its overnight losses and is back near the $36 level. Silver is currently -0.5% at $36.10/oz.

Gold chopped around overnight and about 30 minutes into pit trading, gold rallied for about $15/oz to $1495. It's since pulled back and is now +0.9% at $1494/oz.

Crude oil fell sharply overnight, losing ~5% to new session lows of $94.63 hit overnight. The energy component has erased its overnight losses and extend gains after just spiking ~$1 a few minutes ago to $100.30. Crude continues to extend gains and is now +1.2% at $101.00.

Natural gas has been in positive territory all morning and is currently +1.2% at $4.38/MMBtu.
DJ30 +146.60 NASDAQ +27.70 SP500 +15.24 NASDAQ Adv/Vol/Dec 1827/502.7 mln/520 NYSE Adv/Vol/Dec 2217/212.9 mln/532

10:00 am : Stocks have eased back a bit after staging a strong run higher in the first few minutes of trade. Overall gains remain robust.

Consumer discretionary stocks are lagging today. The sector's 0.6% advance is less than half of what the energy sector has achieved. Consumer discretionary stocks suffered only slight losses in the prior session, though; they were supported by shares of retailers following a round of upbeat same-store sales results for April. DJ30 +128.51 NASDAQ +26.06 SP500 +13.78 NASDAQ Adv/Vol/Dec 1775/300 mln/501 NYSE Adv/Vol/Dec 2252/142 mln/457

09:45 am : After suffering four straight losses, stocks are up sharply this morning. The bid has been broad based, and comes on the back of a much better-than-expected monthly jobs report.

Energy stocks are in some of the strongest shape. The sector's 1.5% bounce comes after it has been beaten down in recent trading days. Heading into today, the energy sector was down almost 7% for the week.

Energy's move lower was exacerbated by a sharp drop in oil prices, which are down again this morning -- the energy component was last quoted with a 0.6% loss at $99.15 per barrel. It had been near $98 per barrel ahead of pit trade. DJ30 +130.93 NASDAQ +25.82 SP500 +13.62 NASDAQ Adv/Vol/Dec 1790/185 mln/424 NYSE Adv/Vol/Dec 2312/105 mln/375

09:15 am : S&P futures vs fair value: +16.70. Nasdaq futures vs fair value: +29.20. The April jobs report featured a greater-than-expected increase of 244,000 nonfarm payrolls and 268,000 private payrolls. That has helped stock futures build substantially on the modest strength that they had displayed an hour ago. Commodities have also turned higher. Although silver is still down 3.0% at $35.15 per ounce, it had been as low as $33.20 per ounce about an hour ago. As for oil prices, they were last quoted with a 0.2% at $99.65 per barrel after they had been near $98 per barrel little more than an hour ago. Corporate news has taken a back seat this morning. Then again, its influence over broad market trade has been minimal in recent sessions. That is mostly because the number of blue chips and bellwethers in the lineup of earnings announcements has waned considerably in the past couple of weeks.

09:05 am : S&P futures vs fair value: +15.20. Nasdaq futures vs fair value: +30.70. A stronger-than-expected April jobs report has pushed stock futures up sharply. The tone of trade abroad has also improved. As such, Germany's DAX is now up 1.2%. BASF AG has been in focus after posting a quarterly report that beat expectations for both the top and bottom line. Deutsche Telekom unveiled earnings that came short of what had been widely anticipated. France's CAC has climbed to a 1.2% gain. Gains are broad based, but Alcatel-Lucent (ALU) has been a source of weakness following its latest quarterly report. Its downturn marks a redirection from the advance that it had staged in the prior session. As for Britain's FTSE, it is now up 0.5% after it had traded with a modest loss in the wake of news that PPI Core Output increased by 0.6% in April after a 0.4% increase in March. Royal Bank of Scotland (RBS) has been a source of strength following the firm's first quarter update, which featured a loss of 528 million British pounds.

Overnight trade in Asia featured a 1.5% drop by Japan's Nikkei, which re-opened after spending the past few days closed for holiday observance. Sellers spread their efforts to a broad span of names, but Honda Motor (HMC), Pacific Metals, and Inpex were among the hardest hit. Tokyo Electric Power, or TEPCO, rallied in the face of broad market weakness, though. Hong Kong's Hang Seng fell to a 0.4% loss amid continued selling pressure. Energy giant CNOOC (CEO) drove the downside move as it responded to renewed weakness in oil prices. The drop in oil helped support Air China, however. Mainland China's Shanghai Composite shed 0.3%. Commodity plays were primary sources of weakness.

08:35 am : S&P futures vs fair value: +14.90. Nasdaq futures vs fair value: +28.00. Stock futures are pushing higher in the wake of the latest payrolls report. According to data, nonfarm payrolls for April climbed by 244,000, which is greater than the 185,000 additions that had been expected. Payrolls for March were revised upward to reflect an increase of 221,000. As for private payrolls, they increased by 268,000, which is greater than the 200,000 increase that had been expected, on average, among economists polled by Briefing.com. However, the headline unemployment rate came in at 9.0%, which is greater than the 8.8% that had been widely anticipated.

08:05 am : S&P futures vs fair value: +5.00. Nasdaq futures vs fair value: +9.20. Stocks have logged losses in each of this week's trading days. That has put the S&P 500 on pace for a weekly loss of 2%. Interestingly enough, the pessimistic tone of recent trade has ushered in the first anniversary of the stock market's "flash crash," which saw the Dow drop dramatically to an intraday loss of almost 1,000 points before rebounding in a matter of minutes. Stock futures have attracted modest support this morning, though. The bid precedes the widely anticipated monthly jobs report, which is due at the bottom of the hour. Expectations have been put in check by several worse-than-expected jobless claims tallies and a disappointing ADP Employment Change report. Oil and silver prices continue to come under pressure; the energy component is down 1.8% to $98.05 per barrel an hour ahead of pit trade, while the precious metal is down 5.9% to $34.10 per ounce. Steady, sharp pressure against commodities has the CRB Commodity Index down more than 8% this week. That puts it on pace for its worst weekly performance since July 2008.

06:49 am : [BRIEFING.COM] S&P futures vs fair value: +8.20. Nasdaq futures vs fair value: +16.20.

06:49 am : Nikkei...9859.20...-145.00...-1.50%. Hang Seng...23159.14...-102.50...-0.40%.

06:49 am : FTSE...5898.25...-21.70...-0.40%. DAX...7417.39...+40.40...+0.60%.

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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