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 Post subject: June 27th Monday 2011 Emini TF (No Trades Missed Signals)
PostPosted: Mon Jun 27, 2011 11:52 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)

Quote:
No trades today due to missed trade opportunities mainly because I wasn't focused nor prepared to trade.

Trade Performance for Today: +0.00 points or $0.00 dollars in the Russell 2000 Emini TF ($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=91&t=916.

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 (key market events) causes key changes in supply/demand and volatility that's arguably just as important as my technical analysis. Thus, I pay attention to these key market events from one trade to the next trade to give me the market context for my technical analysis.

Image CNNMoney.com - Tech Sector Lifts Stocks
Attachment:
062711-Key-Price-Action-Markets.png
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click on the above image to view today's price action of key markets

By Annalyn Censky June 27, 2011: 4:33 PM ET

NEW YORK (CNNMoney) -- Forget having a case of the Mondays.

Stocks started off the week with solid gains, as strength in the technology sector boosted all three major indexes.

The Dow Jones industrial average (INDU) rose 108 points, or 0.9%, with 26 of its 30 components in the black. Microsoft (MSFT, Fortune 500) led the broader index, gaining 3.7%, after the company announced a licensing deal with military contractor General Dynamics (GD, Fortune 500).

Overall, the S&P 500 (SPX) added 11 points, or 0.9%; and the tech-heavy Nasdaq (COMP) rose 35 points, or 1.3%.

Adding to the tech sector's strength, Amazon (AMZN, Fortune 500) shares rose 4.5% after Morgan Stanley issued a bullish report on the company and added the tech giant to its "Best Ideas" list.

The report stated that Amazon's opportunities for global expansion are under-estimated by investors.

Meanwhile, jitters about Greece's debt crisis still hang in the air, but could be overshadowed temporarily by optimism about the upcoming earnings season.

* Stocks don't need (or want) more stimulus

"The market is looking queasy, but that is not unusual as June comes to an end," said Don Hays, chief investment officer for Hays Advisory Group. "Just keep this in mind -- today, the stock market is giving you the best value of any time in the last 30 years, and the earnings of corporate America are up to records and headed higher."

Expect markets to be volatile this week, said Rich Ilczyszyn, market strategist with futures broker Lind-Waldock.

"This is the last week of the month and we have a big holiday this weekend. I'm actually looking for the big boys -- the big traders -- to lighten their loads and reduce some risk probably by Wednesday," he said.

It has been a difficult and choppy three months for Wall Street. The Dow has fallen 3% since March 3, while the broader market S&P 500 index is down 4.3%.

Europe debt crisis: Greece's parliament began a three-day debate Monday on an austerity plan mandated by the European Union and International Monetary Fund. Approval of the plan is required in exchange for a financial rescue package for the debt-stricken country.

* Tech stocks take over StockTwits

Companies: Microsoft (MSFT, Fortune 500) shares surged after the software maker announced a licensing deal, under which military contractor General Dynamics will pay royalties for developing products using Android software.

General Dynamics' Itronix division makes rugged tablets and mobile devices using Android. And although Google (GOOG, Fortune 500) owns that software -- Microsoft has already sued several companies using Android, claiming it infringes on their patents.

Citigroup (C, Fortune 500) said 3,400 of the customers who were hacked in its recent data breach suffered about $2.7 million in losses. The news came after the company said last week it discovered that more than 360,000 accounts had been hacked.

Shares of Chinese company LDK Solar (LDK) surged 4.8%, after the company said it plans to buy back $110 million of its American depositary shares.

Appliance maker Stanley Black & Decker (SWK, Fortune 500) made a $1.2 billion offer to buy Swedish information technology company Niscayah Group. Shares of Stanley Black & Decker rose 0.3%.

Nike (NKE, Fortune 500) shares surged about 4% after the bell, following an earnings report that surpassed Wall Street forecasts. The athletic apparel maker said it earned $1.24 per share in its fiscal fourth quarter, crushing analyst estimates for earnings of $1.16 per share.

Nike's revenue rose 10% to $20.9 billion during the quarter.

* Video - A look back at the 'fear index'

Economy: Personal income rose 0.3% in May, the Commerce Department reported Monday. That was slightly lower than the 0.4% economists had forecast, and follows a 0.4% rise in April.

Spending was unchanged in May, after ticking up 0.4% in the previous month. Economists surveyed by Briefing.com were looking for spending to have edged up 0.1% last month.

World markets: European stocks ended mixed. Britain's FTSE 100 ticked up 0.4% and France's CAC 40 rose 0.3%, while the DAX in Germany lost 0.2%.

Asian markets ended mixed. The Shanghai Composite soared gained 0.4%, while the Hang Seng in Hong Kong fell 0.6% and Japan's Nikkei tumbled 1%.

* Is the euro doomed? Not so fast...

Currencies and commodities: The dollar slipped against the British pound and the euro, but rose versus the Japanese yen.

Oil for August delivery slipped 55 cents, settling at $90.61 a barrel.

Gold futures for August delivery fell $4.50 to settle at $1,496.40 an ounce.

Bonds: The price on the benchmark 10-year U.S. Treasury fell, pushing the yield up to 2.93%, from 2.86% late Friday.

Image

Image Yahoo! Finance - Market Update

4:30 pm : Broad-based buying in thin volume helped stocks score strong gains this session. The action precedes a pivotal vote by Greece's parliament tomorrow.

There weren't many headlines to act as cues for traders this morning. Participants even dismissed the day's only data, which featured news that personal income for May increased by 0.3%, but spending was flat. The consensus among economists polled by Briefing.com had called for a 0.4% increase in income and a 0.1% increase in spending. However, core personal consumption expenditures for the month increased by 0.3%, which is greater than the 0.2% increase that had been broadly anticipated.

After hovering near the neutral line for the first few minutes of trade, stocks began to stage a strong climb. Financials led the early effort with a quick sprint up to a gain of more than 1%. The sector spent the rest of the session sporting that gain.

Tech stocks eventually rallied to replace financials as the top performing sector. Tech, which is also the largest sector by market weight, settled with a 1.4% gain. Tech's strength helped give the Nasdaq an added lift.

Gains weren't limited to cyclical plays, though. Instead, all 10 major sectors ended the day in positive territory. Half of them had gains of nearly 1% or more.

The breadth and size of the move was partly made possible by the lack of share volume, which gave each trade greater relative weight than it would have had during a day of even average share volume. At just 835 million shares on the NYSE, total volume today was among the lightest of the year. Such paltry participation will likely persist ahead of the long, holiday weekend (U.S. markets will be closed next Monday for the observance of Independence Day).

Even though vacation plans are expected to pull many off of their trading in coming days, plenty of attention will be paid to Greece's progress in putting its fiscal house in order. Another step comes tomorrow, when the country's parliament votes on whether or not to accept the austerity plan that country officials agreed upon last week with the European Union and International Monetary Fund.

Advancing Sectors: Tech (+1.4%), Consumer Discretionary (+1.2%), Financials (+1.1%), Telecom (+1.1%), Industrials (+0.9%), Utilities (+0.8%), Energy (+0.7%), Health Care (+0.6%), Consumer Staples (+0.4%), Materials (+0.2%)
Declining Sectors: (None)DJ30 +137.48 NASDAQ +36.45 NQ100 +1.8% R2K +0.4% SP400 +0.6% SP500 +13.35 NASDAQ Adv/Vol/Dec 1613/1.72 bln/973 NYSE Adv/Vol/Dec 2089/835 mln/914

3:30 pm : It was a quiet start to the week for commodities, with no real news out of Greece to create volatility in currencies or commodities... August gold finished lower by 0.3% to $1496.30 per ounce. It traded to its lowest levels in over a month, at $1490.80, but managed to bounce off those levels heading into the close. July silver shed 3.3% to end at $33.50 per ounce, a more drastic sell-off than its counterpart. Silver also traded to its lowest levels in a round a month, at $33.38. Both metals extended their respective sell-offs to a third consecutive session.

August crude oil finished the day lower by 0.6% to $90.61 per barrel. Crude oil did break back below the $90 level to trade to lows at $89.61, a fresh ~4 month low. Crude oil's losses mark a third consecutive session of declines. July natural gas finished higher by 0.4% to $4.25 per MMBtu.DJ30 +152.65 NASDAQ +43.85 SP500 +15.81 NASDAQ Adv/Vol/Dec 1730/1.3 bln/888 NYSE Adv/Vol/Dec 2194/540.9 mln/844

3:00 pm : Stocks continue to sit at session highs as they head into the final hour of the session. The broad-based buying effort precedes an important vote tomorrow by Greece's parliament on whether or not to pass the five-year austerity plan that country officials agreed to last week. The euro is up 0.6% to $1.427 ahead of that vote.DJ30 +137.48 NASDAQ +36.45 SP500 +13.35 NASDAQ Adv/Dec 1613/973 NYSE Adv/Dec 2089/914

2:30 pm : A recent bout of buying interest has helped stocks break free from their afternoon trading range so that they now sit at new session highs.

Tech has become the biggest driver of broad market buying interest, although it should be noted that some of the tech sector's spike higher has likely been helped by some short covering, given that many had bet the sector would resume its descent after modest gains last week allowed the sector to consolidate the losses that it had endured in the preceding weeks. DJ30 +137.48 NASDAQ +36.45 SP500 +13.35 NASDAQ Adv/Vol/Dec 1613/1.11 bln/973 NYSE Adv/Vol/Dec 2089/425 mln/914

2:00 pm : The stock market has entered into a relatively narrow sideways chop. Although that has kept stocks near their best levels of the day, overall action has dulled, which has made today's market watching less entertaining. Nonetheless, today's advance offsets last week's loss.DJ30 +123.40 NASDAQ +34.13 SP500 +11.22 NASDAQ Adv/Vol/Dec 1575/1.02 bln/1011 NYSE Adv/Vol/Dec 1966/380 mln/1036

1:30 pm : Results from an auction of 2-year notes were posted at 1:00 PM ET. Some modest selling has followed the results, which featured a bid-to-cover of 3.09, dollar demand of $108.2 billion, and an indirect bidder participation rate of 22.0%. For comparison, the prior auction produced a bid-to-cover ratio of 3.47, dollar demand of $121.5 billion, and an indirect bidder participation rate of 31.3%. An average of the past six auctions gives a bid-to-cover of 3.32, dollar demand of $116.1 billion, and an indirect bidder participation rate of 30.5%.DJ30 +98.24 NASDAQ +28.23 SP500 +9.02 NASDAQ Adv/Vol/Dec 1557/345 mln/1022 NYSE Adv/Vol/Dec 1903/928 mln/1094

1:00 pm : Despite an absence of catalysts, buying interest has been both strong and broad all session. In turn, stocks are sporting strong midday gains.

The major market averages wavered in the first few minutes of trade, but an early push by financials helped trigger broader buying interest. With help from regional banks, diversified banks, and diversified financial services firms, the financial sector has been trading with a gain of about 1% or more for most of the session.

Tech has rallied to replace financials as the top performing sector. As a group, tech stocks are up 1.4%. Their strength has helped the Nasdaq outperform its counterparts. Materials stocks represent one of the few sectors that has struggled to attract buying interest.

As a group, materials stocks are flat. Support for the sector has been dampened by lower commodities prices, which have collectively fallen 0.7%, according to the CRB Commodity Index.

A dearth of data was posted this morning, but it didn't contain any major surprises. Personal income for May increased by 0.3%. Spending was flat for the month, but core personal consumption expenditures increased by 0.3%. DJ30 +106.22 NASDAQ +32.86 SP500 +10.61 NASDAQ Adv/Vol/Dec 1624/864 mln/943 NYSE Adv/Vol/Dec 2027/325 mln/962

12:30 pm : Stocks continue to trade near session highs. Buying has been both steady and broad since the early going.

There really aren't any headlines to account for the positive mood among participants today. However, many traders have been speculating just how long stocks will continue their gradual descent -- the stock market has mustered only one weekly gain since April, and that move was only incremental. DJ30 +106.86 NASDAQ +31.49 SP500 +10.46 NASDAQ Adv/Vol/Dec 1614/770 mln/942 NYSE Adv/Vol/Dec 2017/293 mln/963

12:00 pm : The major equity averages are all at fresh session highs. The move comes amid broad-based buying interest.

Tech stocks, consumer discretionary stocks, and telecom plays have all caught up with financials, which were early market leaders. Now, each of the four sectors is sporting a 1.1% gain. That reflects the decidedly upbeat tone that has governed trade since the early going. DJ30 +111.60 NASDAQ +31.09 SP500 +10.67 NASDAQ Adv/Vol/Dec 1646/659 mln/893 NYSE Adv/Vol/Dec 2086/255 mln/876

11:30 am : Energy stocks are lagging this session. As a group, they are up just 0.3%, which is only half of what the broader market has achieved. Generally, the sector's relative weakness is owed to lower crude oil prices, which were last quoted with a 0.7% loss at $90.50 per barrel, but drillers and oil well services plays like Nabors (NBR 22.53, -0.51), Diamond Offshore (DO 67.08, -0.63), and Schlumberger (SLB 80.23, -0.69) have been particularly heavy drags on the space.DJ30 +75.91 NASDAQ +23.46 SP500 +7.09 NASDAQ Adv/Vol/Dec 1568/577 mln/949 NYSE Adv/Vol/Dec 1892/223 mln/1046

11:00 am : After a brief pause about one hour ago, stocks extended their climb to set fresh morning highs. Strength has been broad based.

Broad market support has helped the materials sector rebound from a marked drop in the early going. The sector is now unchanged for the session.

Although financials remain out in front of overall action with a 1.2% collective gain, consumer discretionary stocks are catching up. Led by Amazon.com (AMZN 198.47, +5.92), which was added to the Best Ideas List by analysts at Morgan Stanley, retailers and other consumer discretionary plays are up 0.9%. DJ30 +101.42 NASDAQ +26.17 SP500 +9.53 NASDAQ Adv/Vol/Dec 1605/450 mln/880 NYSE Adv/Vol/Dec 2013/175 mln/881

10:35 am : A pullback in the dollar index this morning gave a boost to commodities, but the majority of the complex remains in the red.

Crude oil futures fell as low as $89.60/barrel, which was hit about 40 minutes after floor trading began. Crude has since erased over one points in losses and is currently trading 0.3% lower at $90.92/barrel.

Natural gas has been on a general uptrend for the last three hours and moved back into positive territory around 10:00am EST. The energy component just hit new session highs of $4.25/MMBtu and is now 0.3% higher at $4.24/MMBtu.

Silver remains in the red and been chopping around in a narrow range all morning, while gold has traded near the $1500 level. Currently, silver is down 1.8% at $34.01/oz. and gold is down $1.20 at $1499.60/oz.DJ30 +98.12 NASDAQ +26.83 SP500 +9.50 NASDAQ Adv/Vol/Dec 1321/283.8 mln/1062 NYSE Adv/Vol/Dec 1594/121.2 mln/1149

10:00 am : The broad equity market is easing back a bit after it bounced shortly after the open to a solid gain. Financials remain a key source of support, though; the sector is up 0.9%.

Materials stocks are a source of weakness this morning. Although the sector lacks market weight, it is down a substantial 0.7% at the moment. Weakness among basic materials stocks is somewhat widespread, but Cliffs Natural Resources (CLF 84.98, -1.64) and Owens Illinois (OI 25.10, -0.46) are the poorest performers in the space. Pressure against shares of CLF comes after the company announced late Friday afternoon that regulatory agencies denied the company a remediation plan designed to address carbon monoxide at one of the company's plants. As for OI shares, their weakness comes in the wake of news that analysts at JPMorgan assigned the stock a Neutral rating. DJ30 +53.24 NASDAQ +11.56 SP500 +4.65 NASDAQ Adv/Vol/Dec 1050/135 mln/1275 NYSE Adv/Vol/Dec 1665/68 mln/1108

09:45 am : Stocks slipped shortly after the open, but have managed to make a quick rebound. The bounce has given the major equity averages modest gains.

Financials are primary source of early support. The sector has already sprint ahead to a 1.0% gain. Among financials, banks are in particularly good shape. Buying in the space has the KBW Bank Index up 1.4%. DJ30 +45.52 NASDAQ +6.23 SP500 +3.61 NASDAQ Adv/Dec 1109/1152 NYSE Adv/Dec 1500/1197

09:15 am : S&P futures vs fair value: +0.20. Nasdaq futures vs fair value: -3.80. Stock futures are flat after they had traded with a narrow lead over fair value earlier this morning. Their drift lower hasn't occurred in conjunction with any kind of negative announcement, but rather from a general loss of support. Action abroad has been of little help in providing premarket participants with directional cues for today's trade; Asia's major averages diverged overnight and the major bourses of Europe are currently flat. Data hasn't done anything to inspire action among traders either, mainly because there weren't any significant surprises to the latest monthly personal income and spending figures. Meanwhile, the dollar has made a modest tick higher this morning. It currently leads a collection of competing currencies by less than 0.2%. Amid the greenback's gain, commodities have come under pressure. Collectively, they are down 0.6%, according to the CRB Commodity Index. Treasuries are seeing some mild interest this morning. Results from an auction of 2-year Notes are scheduled to be released at 1:00 PM ET.

09:00 am : S&P futures vs fair value: +1.60. Nasdaq futures vs fair value: -2.00. Action in Europe is mixed at the moment. Specifically, Germany's DAX is down with a fractional loss. Pronounced pressure against financial plays like Commerzbank and Deutsche Bank has been tempered by strength in automakers BMW and Daimler AG. In France, the CAC is up fractionally. Alcatel-Lucent (ALU) is a top performer there, but its strength has been offset by weakness in financial issues like BNP Paribas, Credit Agricole, and Societe Generale. Financial issues have also been a source of weakness for Britain's FTSE, which is currently flat. Royal Bank of Scotland (RBS) is one of the worst performers in the space. According to reports, the company is close to selling its property loan portfolio. BHP Billiton (BHP) and Anglo American have offered some support. Their strength comes in the wake of upgrades from analysts at HSBC.

Asia's major averages concluded overnight action with varied results. Japan's Nikkei fell to a 1.0% loss. Its slide was led by the likes of CSK Corp, Toyota Motor (TM), Sony (SNE), and Fanuc Ltd. Tokyo Electric Power was actually a strong performer in the face of broad market weakness, however. Hong Kong's Hang Seng shed 0.6%. Heavyweight HSBC (HBC) was one of the poorest performers. Several other financial issues shared in the weakness to further induce selling. Mainland China's Shanghai Composite had a more fortuitous day of trade; it advanced 0.4% to book its fifth consecutive gain. Airline plays ascended to score some of the strongest gains.

08:35 am : S&P futures vs fair value: +2.20. Nasdaq futures vs fair value: flat. Stock futures haven't really had much of a response to the latest personal spending and income figures. Personal income for May increased by 0.3%, which is slightly less than the 0.4% increase that had been expected, on average, among economists polled by Briefing.com. Personal spending during May was flat. It had been expected to increase by a tepid 0.1%. However, core personal consumption expenditures for the month increased by 0.3%, which is greater than the 0.2% increase that had been broadly anticipated.

08:05 am : S&P futures vs fair value: +2.60. Nasdaq futures vs fair value: +0.20. Coming off of another weekly loss, stocks have benefited from a modest bid this morning. Support comes despite some relatively mixed action abroad. News flow is somewhat slow at this point, but monthly personal income and spending data are due at the bottom of the hour. Results from an auction of 2-year Notes will be reported at 1:00 PM ET. The yield on the 2-year Note was recently quoted at 0.357%. It was at a record low near 0.30% just last week. The dollar is down marginally this morning. Most of its weakness is owed to an upturn by the euro ahead of tomorrow's vote by Greece's parliament on the five-year austerity plan that was established last week with the EU and IMF.

06:53 am : [BRIEFING.COM] S&P futures vs fair value: +5.00. Nasdaq futures vs fair value: +4.00.

06:53 am : Nikkei...9578.31...-100.40...-1.00%. Hang Seng...22041.77...-130.20...-0.60%.

06:53 am : FTSE...5715.06...+17.30...+0.30%. DAX...7121.01...-0.40...0.00.

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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