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 Post subject: May 27th Friday 2011 Emini TF ($TF_F) points +2.80
PostPosted: Fri May 27, 2011 9:09 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:
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052711-wrbtrader-PnL-Blotter-Profit-280.png [ 28.1 KiB | Viewed 340 times ]

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

Trade Performance for Today: +2.80 points or $280.00 dollars in the Russell 2000 Emini TF ($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=871.

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 - Dow, S&P Struggle For Fourth Week In A Row
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052711-Key-Price-Action-Markets.png [ 514.51 KiB | Viewed 327 times ]

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

By Ken Sweet, contributing writer
May 27, 2011: 4:51 PM ET

NEW YORK (CNNMoney) -- U.S. stocks rose modestly Friday, with trading volume light as traders positioned themselves ahead of the the long holiday weekend.

The Dow Jones industrial average (INDU) rose 39 points, or 0.3%, to 12,442; the S&P 500 (SPX) added 5.4 points, or 0.4%, to 1,331; and the Nasdaq Composite (COMP) climbed 14 points, or 0.5%, to 2,797.

Bank of America (BAC, Fortune 500) was the Dow's top performer, rising 2%, followed by Johnson & Johnson (JNJ, Fortune 500) and Walt Disney (DIS, Fortune 500).

Despite Friday's gains, all three indexes ended the week lower. The Dow fell 0.6%, the S&P 500 fell 0.2%, and the Nasdaq fell 0.2%. Both the Dow and S&P have fallen for four consecutive weeks.

Stocks received some support on Friday from the University of Michigan's May consumer sentiment survey, which rose more than expected. But a disappointing 11.6% drop in April pending home sales "took some of the wind out of the positive consumer sentiment data," said Marc Pado, U.S. market strategist with Cantor Fitzgerald.

Overall, U.S. stocks have struggled this month, as optimism over upbeat corporate earnings has been tempered by signs the economy could be entering a slow period.

* Don't believe the U.S. default fear hype

All three major indexes are down about 3% for the month, but analysts say the market is still headed higher this year.

Trading was subdued Friday, with volumes well below typical daily averages, as investors were reluctant to place big bets ahead of a long weekend. The stock market will be closed Monday for Memorial Day.

Stocks edged higher Thursday, as momentum in the technology sector offset disappointing reports on economic growth and the labor market.

Economy: Personal income and spending both rose 0.4% in April. Income was in line with Briefing.com estimates, while economists had forecast a 0.5% increase for spending.

Companies: Marvell Technologies (MRVL) shares jumped 11% after the company issued an upbeat second-quarter profit outlook.

Toyota (TM), Nissan (NSANY) and Honda (HMC) all reported sharp declines in sales and production during April, as the fallout from the March 11 earthquake and tsunami continue to take a toll on Japan's auto industry. Shares of the three major Japanese automakers edged lower.

* Video - PayPal vs. Google

PayPal sued Google for allegedly stealing trade secrets related to mobile payment technology. Shares of PayPal's parent company, eBay (EBAY, Fortune 500), and Google (GOOG, Fortune 500) edged higher.

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

Oil for July delivery gained 36 cents to $100.59 a barrel.

Gold futures for June delivery rose $13.50 to $1,536.30 an ounce.

Bonds: The price on the benchmark 10-year U.S. Treasury eased, pushing the yield up to 3.07% from 3.06% late Thursday.

World markets: Fitch Ratings lowered its outlook for Japan's economy to "negative" from "stable," saying the government needs to do more to reduce its long-term debt load. But the agency said Japan's credit rating remains supported by a high savings rate among the nation's population.

Asian markets ended mixed. The Shanghai Composite slid nearly 1%, and Japan's Nikkei dipped 0.4%, while the Hang Seng in Hong Kong rose 0.9%.

European stocks closed higher. Britain's FTSE 100 added 1%, the DAX in Germany ticked up 0.7% and France's CAC 40 advanced 1%.

Image

Image Yahoo! Finance - Market Update

4:05 pm : Stocks finished the week with modest gains, with the S&P 500 closing up 0.4% ahead of the long holiday weekend. It was a quiet afternoon, but this morning, stocks shrugged off a mixed batch of data to put in modest gains during the first half of the session. Participants digested news that during April consumer spending increased by 0.4% while incomes increased by 0.4%. Both were on level with what had been expected. The final Consumer Sentiment Survey for May from the University of Michigan came in at 74.3, which is better than what had been expected. Pending home sales for April plummeted a much sharper-than-expected 11.6%.

Materials stocks were the strongest sector today, helped by strength among metals and mining plays. Financials also caught a nice bid, with bank stocks bouncing following positive analyst commentary on many European banks and a proposal in Basel III for more favorable requirements for banks. Health care stocks and utilities were laggards. Medco Health Solutions (MHS 58.66, -5.78) has been a heavy drag on the health care space amid news that the company lost a contract with Blue Cross Blue Shield to CVS (CVS 38.80, +0.65).

Although the pace of trade has been sluggish in recent months, today's action has been especially subdued. This afternoon's trade was confined to a tight range, as volume dried up ahead of the long weekend -- as a reminder, U.S. markets will be closed on Monday in observance of Memorial Day.DJ30 +38.97 NASDAQ +13.94 SP500 +5.42 NASDAQ Adv/Vol/Dec 1600/1476.8 mln/948 NYSE Adv/Vol/Dec 2182/527.2 mln/778

3:30 pm : A weak dollar helped the precious metals close higher today. June gold rallied for 0.9% to close at $1535.70 per ounce, while July silver ended up 1.4% to $37.84 per ounce. Gold traded to highs, at $1538.50, in morning trade but pulled back from those levels heading into the close of pit trade.

July crude oil finished higher by 0.4% to $100.59 per barrel ahead of the long weekend. This morning's worse-than-expected econ data caused crude oil to give back most of its gains from the overnight session. July natural gas rallied for 3.6% to close at $4.51 per MMBtu. DJ30 +33.34 NASDAQ +11.50 SP500 +4.56 NASDAQ Adv/Vol/Dec 1506/1.3 bln/1037 NYSE Adv/Vol/Dec 2038/482.9 mln/906

3:00 pm : The major indices have slipped off their afternoon highs, but are still holding modest gains as markets head into the final hour of trading for the week. The Nasdaq continues to set the pace, trading higher by 0.4%, followed by a 0.3% gain in the S&P, and a 0.2% in the Dow.

Consumer discretionary stocks are seeing gains on pace with the broader averages, but retailer Polo Ralph Lauren (RL 125.45, +7.13) is the top performer in the S&P 500. The stock is trading higher by 6.1%, recovering most of Wednesday's drop that occurred in response to the company's disappointing fourth-quarter results. Despite recovering more than ten dollars from Wednesday's low the stock still trades off more than 3.0% from Tuesday's close.DJ30 +24.97 NASDAQ +9.12 SP500 +3.79 NASDAQ Adv/Vol/Dec 1593/1.18 bln/948 NYSE Adv/Vol/Dec 2152/412.0 mln/794

2:30 pm : Stocks continue to trade in a tight range with the major averages stuck in the middle of the day's range. A gain of 0.5% has the Nasadq leading the advance with the Dow and S&P following closelly behind with 0.4% gains.

The dollar index has been hovering below the 75.00 level for most of the afternoon during a lackluster session in the foreign exchange market. The Swiss franc has grabbed all of the headlines today, moving to record highs against both the dollar and the euro. Dollar/swiss touched a record low of .8510 this afternoon while euro/swiss fell to an all-time low of 1.2148 earlier this morning. Investors continue to view the franc as the ultimate safe-haven currency, having gained more than 27% against the greenback and 16% against the single currency over the past year.DJ30 +43.17 NASDAQ +12.98 SP500 +5.40 NASDAQ Adv/Vol/Dec 1572/1.11 bln/952 NYSE Adv/Vol/Dec 2096/386.1 mln/818

2:00 pm : The major market averages continue to trade in the middle of today's range with the Nasdaq (+0.5%) slightly outpacing gains in the Dow (+0.4%) and S&P (+0.4%).

Financials have been among the best performers all session long, piggybacking gains from their European counterparts after the Financial Times reported European banks may be able to sidestep some of the Basel III capital requirements. Shares of Bank of America (BAC 11.73, +0.27) and Wells Fargo (WFC 28.37, +0.67) are among the best performing stocks in the sector on reports that U.S. banks and state attorneys were close to an agreement on the foreclosure front.DJ30 +48.17 NASDAQ +14.25 SP500 +5.87 NASDAQ Adv/Vol/Dec 1582/1.02 bln/935 NYSE Adv/Vol/Dec 2098/354.3 mln/813

1:30 pm : The markets have settled into a tight afternoon range ahead of the long weekend, holding onto modest mid-day gains. News flow is quiet and trading volumes are likely to dry up as the afternoon progresses and investors head out early for the long weekend.

The bond market closes early today at 2:00 ET, and as a reminder, the U.S. markets are closed on Monday for Memorial Day.DJ30 +51.23 NASDAQ +13.86 SP500 +5.91 NASDAQ Adv/Vol/Dec 688.84/947 mln/228.09 NYSE Adv/Vol/Dec 251.74/324 mln/68.97

1:00 pm : Stocks have shrugged off a mixed batch of data to trade with solid gains ahead of the long, holiday weekend.

Trade in the early going was choppy as participants digested news that during April consumer outlays increased by 0.4% while incomes increased by 0.4%. Both were on level with what had been expected. The final Consumer Sentiment Survey for May from the University of Michigan came in at 74.3, which is better than what had been expected. Pending home sales for April plummeted a much sharper-than-expected 11.6%.

The major equity averages have managed to move higher with broad help, but the climb has had a hard time extending into early afternoon action.

Materials stocks are up with some of the strongest gins. The sector's 1.2% gain has been driven primarily by strength among metals and mining plays.

Financials have also caught a nice bid. The sector's 0.9% gain comes as bank stocks bounce following positive analyst commentary on many European banks and a proposal in Basel III for more favorable requirements for banks.

Health care stocks are lagging again. They currently make up the only sector that has failed to put together a gain. Medco Health Solutions (MHS 57.52, -6.92) has been a heavy drag on the health care space amid news that the company lost a contract with Blue Cross Blue Shield to CVS (CVS 39.00, +0.85).

Although the pace of trade has been sluggish in recent months, today's action has been especially anemic. The drop in participation comes as many traders get an early start on the long weekend -- U.S. markets will be closed on Monday in observance of Memorial Day. DJ30 +54.83 NASDAQ +13.67 SP500 +6.02 NASDAQ Adv/Vol/Dec 1652/885 mln/809 NYSE Adv/Vol/Dec 2202/300 mln/696

12:30 pm : The major equity averages have spent the past couple of hours trading sideways near their session highs. Financials have managed to click higher, however; they are now up 0.9%, which makes them second to only the 1.3% advance of the materials sector.

Part of the financial sector's strength is owed to favor for bank stocks following positive analyst commentary on many of the banks of Europe and a proposal in Basel III for more favorable requirements for banks. Strength in the space has the KBW Bank Index up 1.2%. DJ30 +66.33 NASDAQ +16.05 SP500 +7.11 NASDAQ Adv/Vol/Dec 1650/805 mln/792 NYSE Adv/Vol/Dec 2181/278 mln/698

12:00 pm : Stocks have held steady near the top end of today's trading range for about an hour. Meanwhile, Treasuries have trimmed their losses. In turn, the benchmark 10-year Note is now at the neutral line. The U.S. Treasury market will close at 2:00 PM ET today, due to observation of Memorial Day on Monday.DJ30 +71.63 NASDAQ +17.07 SP500 +7.68 NASDAQ Adv/Vol/Dec 1697/705 mln/725 NYSE Adv/Vol/Dec 2236/242 mln/632

11:30 am : Stocks have paused to take a breather at their best levels of the day. Meanwhile, the dollar is down 0.9% to its daily low.

Materials stocks continue to fly high, however. The sector is up 1.3%. Health care stocks are at the other end of the spectrum with their 0.2% loss. Medco Health Solutions (MHS 56.43, -8.01) has been a heavy drag on the health care space; its 12% drop follows news that the company lost a contract with Blue Cross Blue Shield to CVS (CVS 39.05, +0.90). DJ30 +61.87 NASDAQ +14.87 SP500 +6.58 NASDAQ Adv/Vol/Dec 1673/600 mln/719 NYSE Adv/Vol/Dec 2226/205 mln/612

11:00 am : Stocks started to slip in the wake of some disappointing pending home sales numbers, but they have rebounded nicely in more recent trade. The effort has actually taken the Nasdaq Composite to a session high.

The Nasdaq has put together a few impressive performances as it heads into the weekend. Since the close of trade on Tuesday, the Nasdaq has ascended by almost 2%. Despite that climb, it is still essentially flat for the week.

So what's been driving the Nasdaq during the course of the past few days? Leaders have generally varied from day to day. Yesterday Microsoft (MSFT 24.78, +0.11) and NetApp (NTAP 55.02, -0.29) were leaders, but Oracle (ORCL 33.76, +0.36) has been a leader today. DJ30 +54.26 NASDAQ +15.86 SP500 +7.08 NASDAQ Adv/Vol/Dec 1579/470 mln/762 NYSE Adv/Vol/Dec 2118/165 mln/685

10:35 am : The dollar index has been trading sideways for just over an hour now, but remains in the red, which has given price support to commodities.

Crude oil has been trading higher all morning and hit session highs of $101.24/barrel about two hours ago. Crude has since pulled back and is now up 0.3% at $100.49/barrel. Natural gas, on the other hand, began to gain steam a couple of hours ago and has gained over 4% since. It ran to current session highs of $4.55/MMBtu minutes ago and is now 3.9% higher at $4.53/MMBtu.

Precious metals are higher as well this morning with silver leading again. In current trade, silver is up 1.7% at $37.98/oz. while gold is 0.7% higher at $1534.00/oz.

Grain pits just opened and moved lower initially, but are recoering in currently trade. Corn is back near the flat line at $7.46, while soybeans are -0.1% at $13.83/bu and wheat is -0.6% at $8.09/bu.DJ30 +34.32 NASDAQ +12.16 SP500 +4.93 NASDAQ Adv/Vol/Dec 1510/339.6 mln/797 NYSE Adv/Vol/Dec 1950/125.4 mln/784

10:05 am : The final Consumer Sentiment Survey for May from the University of Michigan was released a few minutes ago. It came in at 74.3, which is up from the 72.4 that had been reported in the preliminary release. On average, economists surveyed by Brieifng.com had expected that the Survey would remain unchanged.

Pending home sales for April were also just posted. They fell 11.6% from the prior month. A much milder decline of 1.4% had been broadly expected.

Stocks are slipping off of their morning highs in the wake of the data. Overall gains are now only modest. DJ30 +32.69 NASDAQ +7.47 SP500 +4.12 NASDAQ Adv/Vol/Dec 1594/160 mln/587 NYSE Adv/Vol/Dec 2093/70 mln/591

09:45 am : The major equity averages are off to a strong start amid broad based support, which is to say that all 10 major sectors are in positive territory.

Materials plays are attracting the most support this morning. As a group, materials stocks are already up 1.1%. Freeport McMoRan (FCX 51.53, +1.14) is a top performer in the space. The move has taken the stock to a new two-week high. DJ30 +54.11 NASDAQ +8.22 SP500 +5.90

09:15 am : S&P futures vs fair value: +3.60. Nasdaq futures vs fair value: +3.40. Stock futures point to a slightly higher start to today's trade. The moderately positive tone comes after the broad market successfully achieved back-to-back gains, although those of the prior session were varied. Another drop in the dollar has helped bolster buying interest among stocks; the dollar is currently down against a basket of major foreign currencies by 0.6%, which puts it on pace for its second straight decline. The dollar is only down 0.4% for the week, though. Amid a lack of corporate headlines and some unsurprising income and spending data, strong gains in Europe have provided a positive backdrop to premarket trade. Action among Europe's bourses has been helped by positive analyst commentary on the region's banks. Proposals for more favorable regulatory requirements in Basel III have also been publicized.

09:05 am : S&P futures vs fair value: +4.10. Nasdaq futures vs fair value: +3.60. Europe's major bourses presently trade with varied gains. The region has been generally helped by bank stocks after Citigroup offered positive commentary on the space and Societe Generale found several British banks particularly attractive. More favorable regulatory requirements for banks were also featured in a proposal of Basel III. Germany's DAX is currently up 0.5% amid leadership from Metro AG and Merck KGAA. Deutsche Bank (DB) and Commerzbank are both weak. Britain's FTSE is up 1.0%. Lloyds Group (LYG) and Royal Bank of Scotland (RBS) are primary leaders there. Barclays (BCS) and HSBC (HBC) are both in strong shape, too. Losses are limited to only a handful of names, including GlaxoSmithKline (GSK), Cairn Energy, and Reckitt Benckiser. As for data, the GfK Consumer Confidence Survey for the United Kingdom came in at -21 for May after it had been at -31 in April. France's CAC has climbed to a 1.2% gain. Credit Agricole, BNP Paribas, and Societe Generale are leaders there.

Overnight action in Asia saw Japan's Nikkei slide to a 0.4% loss. Sony (SNE) was a primary source of weakness in the wake of its latest quarterly report. Mitsubishi Motors was also a heavy drag. CSK Corp and Fujitsu both offered support, though. Early this morning it was announced that analysts at Fitch have revised downward Japan's sovereign rating to Negative from Stable. The country's latest data featured a 0.3% increase in overall CPI during April and a 0.6% increase in CPI less fresh food for the month. Mainland China's Shanghai Composite fell 1.0% on Friday. That fed into a 5% weekly decline for the Composite, which has actually logged seven straight losses. PetroChina (PTR) was one of the few to make a material gain in Shanghai. Shares of PetroChina fared even better on Hong Kong's Hang Seng, which distinguished itself with a 1.0% advance.

08:35 am : S&P futures vs fair value: +5.50. Nasdaq futures vs fair value: +5.60. Stock futures have incrementally increased their lead over fair value as the dollar loses more ground against competing currencies. The latest dose of data came without much surprise. Consumer outlays during April increased by 0.4%, which is only slightly less than the 0.5% increase that had been expected, on average, among economists polled by Briefing.com. Core personal consumption expenditures increased by 0.2%, as had been broadly anticipated. As for incomes, they increased by 0.4%, which is on par with what had been widely expected. Still to come is the final Consumer Confidence Survey for May from the University of Michigan (9:55 AM ET). It will be immediately followed by pending home sales for April (10:00 AM ET).

08:05 am : S&P futures vs fair value: +3.60. Nasdaq futures vs fair value: +2.90. The prior session saw mixed performances from the major equity averages and renewed weakness in the dollar. The dollar is down again this morning, currently by 0.6% against a collection of competing currencies, but stock futures have garnered only modest support. Generally positive action abroad has made for a stable backdrop that has filled in for the lack of corporate news flow. There's a healthy dose of data on the way, though. Personal income and outlays for April are due at the bottom of the hour. The final May reading on consumer confidence from the University of Michigan will be released at 9:55 AM ET. Pending home sales for April will be posted at 10:00 AM ET. Still, trade volume is likely to be light ahead of Memorial Day. The U.S. Treasury market will close at 2:00 PM ET today, but both U.S. equity and Treasury markets will be closed entirely on Monday in order to observe the holiday.

06:46 am : [BRIEFING.COM] S&P futures vs fair value: +3.60. Nasdaq futures vs fair value: +2.90.

06:46 am : Nikkei...9521.94...-40.10...-0.40%. Hang Seng...23118.07...+217.30...+1.00%.

06:46 am : FTSE...5935.15...+54.20...+0.90%. DAX...7151.72...+37.60...+0.50%.

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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