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 10:03 am

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: May 26th Thursday 2011 Emini TF ($TF_F) points +13.00
PostPosted: Thu May 26, 2011 5:38 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:
052611-wrbtrader-PnL-Blotter-Profit-1300.png
052611-wrbtrader-PnL-Blotter-Profit-1300.png [ 29.42 KiB | Viewed 325 times ]

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

Trade Performance for Today: +13.00 points or $1300.00 dollars in the Russell 2000 Emini TF ($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=867.

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

-----------------------------


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 - Tech Shares Push Stocks Higher
Attachment:
052611-Key-Price-Action-Markets.png
052611-Key-Price-Action-Markets.png [ 516.22 KiB | Viewed 325 times ]

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

By Ken Sweet
May 26, 2011: 4:34 PM ET

NEW YORK (CNNMoney) -- Stocks edged higher Thursday as momentum in the technology sector offset disappointing reports on economic growth and the labor market.

The Dow Jones industrial average (INDU) rose 8 points, or 0.1%, to end at 12,403; the S&P 500 (SPX) added 5 points, or 0.4%, to 1,326; and the tech-heavy Nasdaq Composite (COMP) gained 22 points, or 0.8%, to close at 2,783. The Dow had been down more than 70 points earlier in the session.

Technology shares helped offset broader market losses, with technology blue chip Microsoft (MSFT, Fortune 500) rising 2% and Hewlett-Packard (HPQ, Fortune 500) gaining 1.5%. Microsoft shares were higher after large shareholder David Einhorn called for CEO Steve Ballmer to step down.

"All these tech giants like Microsoft, Dell, HP have gotten so big, they're very hard to manuveur," said Daniel Morgan, portfolio manager with Synovus Trust Co., who also owns Microsoft shares.

* 5 stocks that beat inflation

Among other tech names, NetApp (NTAP) shares jumped 7% after the data storage company reported strong quarterly results late Wednesday and issued an upbeat outlook for the current quarter.

The biggest decliners among the blue chips were Merck (MRK, Fortune 500) and Home Depot (HD, Fortune 500), which were both down roughly 1%.

Stocks have been struggling this month, as optimism over upbeat corporate earnings has been tempered by signs the economy could be entering a slowdown this summer.

Evidence of a weaker economy was prevalent in two economic reports released Thursday morning.

The number of Americans filing for first-time unemployment benefit claims remained above 400,000 for the seventh week in a row. Additionally, the government's revised reading on first-quarter growth domestic product remained at 1.8%. Economists expected GDP to bump up to 2%.

"The data doesn't bode well for the summer," said Stephen Carl, head trader with Williams Capital.

* Climbing a wall of worry - StockTwits

May has been a volatile month for stocks overall, with the Dow and S&P 500 both falling about 3.2% since the beginning of the month.

Analysts at Standard & Poors are predicting the stock market could be in for a 10% correction over the next month.

"The global equity markets continue to wrestle with the paradox of rising earnings estimates and declining global economic growth indicators," said Sam Stovall, chief investment strategist with Standard & Poor's Equity Research, in a note to investors Wednesday.

Stocks posted modest gains Wednesday, but are in negative territory for the week overall.

Companies: Shares of Tiffany & Co. (TIF) rose more than 8.5%, after the luxury jeweler reported a 12% jump in sales. The company also hiked its quarterly dividend payment to 29 cents per share from 25 cents.

Signet Jewelers (SIG) also fared well, with its stock rising 5%. The retailer, which operates Kay Jewelers, Jared, The Galleria Of Jewelry and chains in the U.K., got a big boost from U.S. sales in its latest quarter.

Shares of MasterCard (MA, Fortune 500) rose 3%, following a joint announcement by Google (GOOG, Fortune 500) -- along with MasterCard and Sprint (S, Fortune 500) -- of a new mobile payment system called Google Wallet.

Computer Sciences Corp.'s (CSC, Fortune 500) shares dropped 13%, after the company's quarterly results came in short of expectations. The company said it earned an adjusted profit of $1.01 a share, while analysts were looking for $1.16 a share.

Freescale Semiconductor (FSL) priced its initial public offering at $18 a share, below its estimated range of between $22 and $24 per share. Shares rose 2% following its IPO.

* Java lovers swallow rising coffee costs

Currencies and commodities: The dollar fell against the euro, the Japanese yen and the British pound.

Oil for July delivery dropped $1.09, or 1.1%, to $100.23 a barrel.

Gold futures for June delivery slid $4.10 to $1,523.20 an ounce. Silver for June delivery fell 0.8% to $37.33 an ounce.

Bonds: The price on the benchmark 10-year U.S. Treasury rose, pushing the yield down to 3.09% from 3.14% late Wednesday.

World markets: European stocks closed Thursday's session mixed. Britain's FTSE 100 rose 0.2%, while the DAX in Germany slid 0.8% and France's CAC 40 fell 0.3%.

Asian markets ended mixed. The Shanghai Composite edged lower 0.2%, while the Hang Seng in Hong Kong added 0.7% and Japan's Nikkei rallied 1.5%.

Image

Image Yahoo! Finance - Market Update

4:30 pm : Performances among the major equity averages varied today. Data were generally disappointing.

Stocks traded near the neutral line in the early going. The tepid tone came amid mixed action abroad and news that the second estimate of first quarter GDP showed growth of 1.8%, which is unchanged from the advance reading, but less than the 2.0% growth rate that had been expected among economists surveyed by Briefing.com.

Initial jobless claims for the week ended May 21 totaled 424,000. Not only is that up by 10,000 from the prior week, but it exceeds the 400,000 initial claims that had been widely expected.

The dollar was down markedly this morning, but that didn't seem to matter too much to traders in the wake of the data. The greenback pared its loss as the session progressed, but it was still down 0.5% against a basket of competing currencies at the close of trade.

After struggling to find direction for the first couple of hours, stocks began a gradual climb higher. Microsoft (MSFT 24.67, +0.48) and NetApp (NTAP 55.31, +3.58) led the tech-rich Nasdaq. Shares of MSFT were helped by favorable comments about the stock from hedge fund manager David Einhorn while NTAP was aided by a satisfactory quarterly report.

The S&P 500 managed to make a modest advance with help from consumer discretionary stocks (+0.8%) after Tiffany & Co. (TIF 76.04, +6.00) and Guess? (GES 44.57, +4.47) reported impressive quarterly results. Other retailers shared in their strength, such that the SPDR S&P Retail ETF (XRT 53.23, +0.87) ascended to a weekly high.

The Dow ended the day at the unchanged mark. Despite strength in MSFT shares, other blue chips traded in mixed fashion.

Small-cap stocks outperformed again. For the second straight session their strength has sent the Russell 2000 to a gain in excess of 1%.

Share volume remains sluggish. The anemic pace will most likely continue tomorrow since many traders will take off early to get a jump on the long, Memorial Day weekend.

Treasuries attracted strong support and closed near session highs. The climb sent the yield on the benchmark 10-year Note down to 3.06%, which makes for a new 2011 low. Gains were helped along in the wake of an auction of 7-year Notes that drew a bid-to-cover of 3.20, dollar demand of $94.0 billion -- the highest since early 2010 -- and an indirect bidder participation rate of 47.6%.

Advancing Sectors: Consumer Discretionary (+0.8%), Tech (+0.6%), Telecom (+0.6%), Energy (+0.5%), Financials (+0.5%), Industrials (+0.4%), Materials (+0.2%), Consumer Staples (+0.2%)
Declining Sectors: Health Care (-0.1%), Utilities (-0.1%)DJ30 +8.10 NASDAQ +21.54 NQ100 +0.7% R2K +1.2% SP400 +0.9% SP500 +5.22 NASDAQ Adv/Vol/Dec 1830/1.92 bln/712 NYSE Adv/Vol/Dec 2154/861 mln/846

3:45 pm : July natural gas shed 1.3% to close at $4.36 per MMBtu. This morning's inventory data, which showed a larger than expected build, sent natural gas prices to session lows at $4.23. They were able to rebound off those lows to close near levels seen heading into the data. July crude oil settled lower by 1.1% to $100.23 per barrel.

Despite weakness in the dollar, the precious metals finished lower on the day. June gold shed 0.3% to close at $1522.40 per ounce, while July silver closed down 0.8% to $37.37 per ounce.DJ30 +22.82 NASDAQ +24.78 SP500 +6.62 NASDAQ Adv/Vol/Dec 1771/1.5 bln/755 NYSE Adv/Vol/Dec 2139/642.3 mln/830

3:00 pm : Stocks have stretched to marginally improved session highs. Today's move extends yesterday's advance, which was the first gain for the stock market in four sessions.

Share volume continues to move along at an anemic pace. As such, hardly a half-billion shares have exchanged hands, so far, on the NYSE. The sluggish pace of trade is consistent with that of recent weeks, though. Share volume both today and tomorrow could be contained as a result of so many traders and investors getting a jump on the long, Memorial Day weekend. DJ30 +39.05 NASDAQ +25.35 SP500 +7.32 NASDAQ Adv/Vol/Dec 1759/1.34 bln/739 NYSE Adv/Vol/Dec 2095/515 mln/858

2:30 pm : Stocks are extending to new session highs. The move comes as the dollar slips slightly to a 0.5% loss, which brings it back to its afternoon low.

Consumer discretionary stocks, now up 1.0%, are still out in front. Defensive plays like utilities (unch.) and health care (-0.1%) continue to lag. DJ30 +36.59 NASDAQ +23.03 SP500 +6.79 NASDAQ Adv/Vol/Dec 1642/1.23 bln/836 NYSE Adv/Vol/Dec 1986/467 mln/944

2:00 pm : Consumer discretionary (+0.8%), telecom (+0.8%), and tech (+0.6%) are today's top performing sectors. At the other end of the spectrum, health care (-0.1%), utilities (+0.1%), and consumer staples stocks (+0.1%) are the worst performing sectors of the session.

Among individual movers, Tiffany & Co. (TIF 76.04, +6.00) and NetApp (NTAP 55.91, +4.18) are the top two performers by percent gained. Computer Sciences Corp (CSC 38.01, -6.08) is the worst performer by percent lost. Each of their moves comes in response to their latest quarterly reports. DJ30 +9.95 NASDAQ +16.52 SP500 +3.48 NASDAQ Adv/Vol/Dec 1639/1.09 bln/835 NYSE Adv/Vol/Dec 1931/429 mln/986

1:30 pm : Treasuries have shown little reaction to results from an auction of 7-year Notes that were posted at 1:00 PM ET. The auction drew a bid-to-cover of 3.20, dollar demand of $94.0 billion -- the highest since early 2010 -- and an indirect bidder participation rate of 47.6%. For comparison, the prior auction drew a bid-to-cover of 2.63, dollar demand of $76.3 billion, and an indirect bidder participation rate of 38.7%. An average of the past six auctions results in a bid-to-cover of 2.77, dollar demand of $80.3 billion, and indirect bidder participation rate of 49.4%.DJ30 +19.11 NASDAQ +19.63 SP500 +4.52 NASDAQ Adv/Vol/Dec 1584/1.00 bln/864 NYSE Adv/Vol/Dec 1885/393 mln/1015

1:00 pm : Disappointing data played into a muddled start for stocks, but an improved mood among participants has helped the broad market find higher ground and the Nasdaq stage a solid gain.

Even though the dollar was down markedly this morning, participants focused on news that the second estimate of first quarter GDP showed a growth rate of 1.8%, which is unchanged from the first estimate, but less than what some had expected. Moreover, the latest weekly initial jobless claims count came in at 424,000, which exceeds the 400,000 initial claims that had been widely forecasted.

The Dow continues to trade near the neutral line, but the S&P 500 has managed to muster a modest gain after overcoming a sluggish start. The Nasdaq has been the best performing average, thanks to help from Microsoft (MSFT 24.72, +0.53), which has made a strong move higher following favorable comments on the stock from hedge fund manager David Einhorn. NetApp (NTAP 55.80, +4.07) has also provided support following its latest quarterly announcement.

Retailers are also in strong shape. Their gains have helped prop up the consumer discretionary sector, which is up 0.7% following impressive results from Tiffany & Co. (TIF 75.77, +5.73) and Guess? (GES 44.72, +4.62). Reports from retailers in recent sessions have been rather disappointing.DJ30 +11.09 NASDAQ +18.00 SP500 +3.66 NASDAQ Adv/Vol/Dec 1523/915 mln/915 NYSE Adv/Vol/Dec 1841/358 mln/1055

12:30 pm : The Nasdaq is at a fresh session high with a solid gain while the S&P 500 returns to the unchanged mark, which represented a point of resistance this morning. As for the Dow and its blue chips, it is still in the red with a narrow loss. Meck (MRK 36.23, -0.46) and Home Depot (HD 36.17, -0.46) are weighing most heavily on the Dow, but Microsoft (MSFT 24.75, +0.56) has been a source of support. Shares of MSFT have also provided strength to the Nasdaq.DJ30 -23.13 NASDAQ +10.97 SP500 -0.07 NASDAQ Adv/Vol/Dec 1324/815 mln/1080 NYSE Adv/Vol/Dec 1548/327 mln/1331

12:00 pm : The major equity averages remain mixed, but retailers have successfully put together impressive gains following strong quarterly reports from Tiffany & Co. (TIF 76.18, +6.14) and Guess? (GES 44.44, +4.34). Strength in the overall retail space has the SPDR S&P Retail ETF (XRT 52.83, +0.47) up almost 1%.DJ30 -36.86 NASDAQ +8.02 SP500 -1.82 NASDAQ Adv/Vol/Dec 1195/731 mln/1192 NYSE Adv/Vol/Dec 1395/295 mln/1458

11:30 am : Treasuries have added to their gains. In turn, the yield on the 10-year Note now sits a couple of basis points below 3.10% at a new 2011 low.

Stocks continue to trade in mixed fashion. The lackluster action is largely due to listlessness in the broad market.

Meanwhile, the dollar continues to cut its loss. As such, it is now down just 0.2% against a basket of major foreign currencies after it was contending with a loss of about 0.8% at the open of today's trade. DJ30 -40.95 NASDAQ +5.05 SP500 -2.45 NASDAQ Adv/Vol/Dec 1080/645 mln/1290 NYSE Adv/Vol/Dec 1298/250 mln/1521

11:00 am : The Nasdaq is back near the neutral line, but both the Dow and the S&P 500 are in the red with fairly-sizable losses. This is the second straight session that the tech-rich Nasdaq has outperformed its counterparts on a relative basis.

Microsoft (MSFT 24.72, +0.53) has been a primary source of strength for the Nasdaq. Its bounce comes amid favorable comments from hedge fund manager David Einhorn about the stock. He also called for a shakeup of the company's management. DJ30 -67.78 NASDAQ -1.75 SP500 -5.24 NASDAQ Adv/Vol/Dec 1144/500 mln/1174 NYSE Adv/Vol/Dec 1347/200 mln/1428

10:35 am : Recent strength in the dollar index, seen about 40 minutes ago, caused select commodities to sell off, including crude and precious metals.

Natural gas has been in the red all morning and ahead of inventory data, the energy component was 1.2% lower at $4.37/MMBtu. Following the data, which showed a build of 105 bcf versus consensus which called for a build of ~90 bcf, natural gas fell sharply to new session lows; now at $4.29, down 3%.

Crude oil sold off earlier on the rally in the dollar index, dropping below the $101.00 level. Crude is selling off again in recent activity, along with natural gas, and now just fell below the $100.00 mark. In current trade, crude is down 1.3% at $100.00/barrel.

Precious metals are lower this morning, led by silver. Gold hit session lows 30 minutes ago at $1514.60/oz. and is now down 0.6% at $1517.20/oz. Silver is extending losses in recent trade and is now 1.8% lower at $36.95/oz. DJ30 -48.14 NASDAQ +3.78 SP500 -2.51

10:00 am : The dollar's recent move off of its low has caused stocks to slip. The move lower has taken all 10 major sectors into the red.

Natural resource stocks offered leadership in the prior session, but today they are under some of the most pressure. That has taken the energy sector and the materials sector down to losses of 0.6%. DJ30 -56.20 NASDAQ -1.34 SP500 -3.85 NASDAQ Adv/Vol/Dec 989/168 mln/1155 NYSE Adv/Vol/Dec 1164/75 mln/1453

09:45 am : The Dollar Index is down 0.8% this morning. Most of that is owed to a 0.9% advance by the Japanese yen to 81.27 yen per dollar and a 0.8% gain by the euro to $1.419.

Despite the dollar's decline, stocks haven't really shown any kind of positive response. Instead, the three major equity averages are plodding along the neutral line.

Treasuries have attracted some modest buying interest in the early going, though. In turn, the yield on the benchmark 10-year Note is back near 3.10%. DJ30 -19.00 NASDAQ +0.66 SP500 -0.74

09:15 am : S&P futures vs fair value: -3.80. Nasdaq futures vs fair value: -5.80. Disappointment over the latest weekly jobless claims count and the second estimate of first quarter GDP (+1.8%) has overshadowed weakness in the dollar. In turn, stock futures point toward a flat to slightly lower start for the session. The uninspired tone comes after stocks achieved their first gain in four sessions yesterday. Overseas markets markets have offered little direction, given that action there has been mostly mixed. Corporate news continues to be of little consequence to the broad market, although it has made for some strong individual action. Namely, shares of Guess? (GES) and Tiffany & Co. (TIF) are expected to gap higher at the open, thanks to their latest quarterly reports.

09:05 am : S&P futures vs fair value: -3.60. Nasdaq futures vs fair value: -5.80. Germany's DAX had been near the neutral line about 45 minutes ago, but it recently dropped to a 0.5% loss following the release of GDP data and initial jobless claims in the U.S. Germany's latest data featured a 0.3% increase in import prices during April after they had spiked 1.1% in March. German trade is currently characterized with widespread weakness, although Commerzbank is showing strength for the second straight session. France's CAC has been cut down so that it now trades along the neutral line. BNP Paribas remains a primary source of support. France reported that its reading on consumer confidence for May improved to 84 from 83 in April. Britain's FTSE has successfully put together a solid 0.5% gain. Man Group PLC has been a leader there, but Burberry has been a drag.

Overnight trade in Asia was led by Japans Nikkei, which climbed to a 1.5% gain. Mazda Motor was a leader with its near 8% move higher. Canon (CAJ) contributed considerably to the advance with a near 7% advance of its own. Alongside its early morning earnings announcement, Sony (SNE) issued downside income guidance for fiscal 2012. Only a handful of names logged losses -- Fast Retailing, Shinsei Bank, and Tokyo Dome all settled in the red. Hong Kong's Hang Seng put together a 0.7% gain. Energy giant CNOOC (CEO) was a primary leader there. Meanwhile, China's Shanghai Composite closed 0.2% lower. Although the loss was slight, it marked the sixth straight decline for the Shanghai Composite. Concerns about additional rate hikes aimed at stemming inflation continue to loom over trade there.

08:35 am : S&P futures vs fair value: -4.20. Nasdaq futures vs fair value: -6.30. Stock futures have retreated in the wake of the latest data. Just as the first estimate did, the second estimate of first quarter GDP indicates that the U.S. economy expanded at an annualized rate of 1.8% from January through March. Economists polled by Brieifng.com had, on average, expected that GDP would be upwardly revised to reflect growth of 2.0%. As for the first quarter GDP Deflater, it continued to show a 1.9% increase, as had been anticipated. Separately, initial jobless claims for the week ended May 21 totaled 424,000, which is up 10,000 from the prior week and also a greater tally than the 400,000 initial claims that had been widely expected. However, continuing claims came down to 3.69 million from 3.74 million.

08:05 am : S&P futures vs fair value: +1.30. Nasdaq futures vs fair value: +2.50. Stock futures are trading in line with fair value, despite a marked decline in the Dollar Index, which was last quoted with a 0.6% loss. Overseas action has offered a mixed direction. Markets in Hong Kong and Japan moved firmly higher, but Shanghai moved settled in the red again. Trade among Europe's major bourses has been mixed. Corporate news has consisted of strong quarterly reports from Tiffany & Co (TIF) and Guess? (GES). Shares of both companies are up markedly ahead of the open. The second estimate of first quarter GDP is due at the bottom of the hour. The latest weekly initial jobless claims tally will be posted at the same time. Natural gas inventory data are on tap for 10:30 AM ET. Results from an auction of 7-year Notes are due at 1:00 PM ET.

06:32 am : [BRIEFING.COM] S&P futures vs fair value: +1.00. Nasdaq futures vs fair value: flat.

06:32 am : Nikkei...9562.05...+139.20...+1.50%. Hang Seng...22900.79...+153.50...+0.70%.

06:32 am : FTSE...5901.39...+31.30...+0.50%. DAX...7157.12...-13.80...-0.20%.

Special thanks to Bloomberg, CNNMoney and Yahoo! Finance for their market summaries. gm

Best Regards,
M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Image@ http://twitter.com/wrbtrader and http://stocktwits.com/wrbtrader

Phone: +1.708.572.4885
Business Hours: 8am - 5pm est (Mon - Fri)
Skype Messenger: kebec2002
questions@thestrategylab.com
Go Back To TheStrategyLab.com Homepage


Top
 Profile  
 
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 1 post ] 

All times are UTC - 5 hours [ DST ]


Who is online

Users browsing this forum: No registered users and 2 guests


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to:  
cron
Powered by phpBB © 2000, 2002, 2005, 2007 phpBB Group
Translated by Xaphos © 2007, 2008, 2009 phpBB.fr