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 9:59 am

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: July 18th Monday 2011 Emini TF ($TF_F) points +7.60
PostPosted: Tue Jul 19, 2011 5:48 am 
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:
071811-wrbtrader-PnL-Blotter-Profit-760.png
071811-wrbtrader-PnL-Blotter-Profit-760.png [ 27.12 KiB | Viewed 294 times ]

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

Trade Performance for Today: +7.60 points or $760.00 dollars in the Russell 2000 Emini TF ($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=92&t=937.

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 (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 Bloomberg.com (Youtube Video) - U.S. Stocks Drop Amid Concerns About Federal Debt Limit

July 18 (Bloomberg) -- Bloomberg's Deborah Kostroun reports on the performance of the U.S. equity market today. U.S. stocks fell, pushing the Standard & Poor's 500 Index to its worst seven-day period in more than a month, amid concern lawmakers will fail to reach a deal on the nation's debt limit two weeks before a deadline.

Image CNNMoney.com - Stocks Start The Week In Sell Mode
Attachment:
071811-Key-Price-Action-Markets.png
071811-Key-Price-Action-Markets.png [ 513.52 KiB | Viewed 308 times ]

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

By Ben Rooney July 18, 2011: 4:47 PM ET

NEW YORK (CNNMoney) -- Stocks sold off sharply Monday and gold prices rose, as worries about Europe's debt crisis and uncertainty over the U.S. debt ceiling kept investors on edge.

The Dow Jones industrial average (INDU) sank 95 points, or 0.7%, to end at 12,385. The S&P 500 (SPX) fell 11 points, or 0.8%, to 1,305. The Nasdaq Composite (COMP) slid 25 points, or 0.8%, to 2,765.

U.S. stocks took their cues from Europe after results from the latest bank stress tests fanned concerns about the challenges facing the European Union as it struggles to resolve the debt crisis in Greece.

Those worries weighed on shares of U.S. financial institutions, with Bank of America (BAC, Fortune 500), Goldman Sachs (GS, Fortune 500) and Morgan Stanley (MS, Fortune 500) all trading at their lowest levels in over two years.

American Express (AXP, Fortune 500), Citigroup (C, Fortune 500), JPMorgan (JPM, Fortune 500) and Travelers (TRV, Fortune 500) were also under pressure.

But the declines were broad, with all 30 Dow components in the red. Industrial names Alcoa (AA, Fortune 500), Caterpillar (CAT, Fortune 500) and Boeing (BA, Fortune 500) were among the hardest hit.

In Washington, policy makers made little progress over the weekend on a budget deal to raise the nation's debt ceiling.

Early Monday, rating agency Moody's went so far as to suggest the debt ceiling itself should be eliminated to bring greater stability and avoid "periodic uncertainty."

"The debt worries both here and abroad continue to weigh on the markets," said Peter Cardillo, chief market economist for Avalon Partners. "There is just too much uncertainty."

That uncertainty drove investors to gold, which ended at a record high of $1,602.40 an ounce. Investors see gold as the best place to park their money when there's economic or political uncertainty.

Silver prices also moved higher, rising above $40 an ounce for the first time since early May.

* Why one silver bull isn't buying - StockTwits

The U.S. dollar gained versus the euro and oil prices fell more than 2%.

The global debt concerns were overshadowing corporate reports, which have been generally better than expected, said Kate Warne, chief investment strategist with Edward Jones.

"I do think investors have been overlooking the solid performance of companies and paying far more attention to the headlines about governments having problems paying their bills," she said.

Analysts at Capital IQ expect second-quarter earnings for the companies in the S&P 500 to be up 15% versus the same period last year.

Of the 43 companies in the index that have reported earnings so far, 30 have come in better than expected, according to Capital IQ.

Stocks posted solid gains Friday, following better-than-expected corporate earnings.

Companies: In total, more than a fifth of the S&P 500 and half of the 30-member Dow Jones industrial average will report their results this week.

After the closing bell, IBM (IBM, Fortune 500) reported second-quarter earnings that beat analysts' expectations. The company said earnings rose 18% to $3.09 a share, versus a forecasted $3.03 a share profit.

Cisco (CSCO, Fortune 500) announced plans to cut its global workforce by 6,500 employees, including some early retirements. The move is part of a plan to save the company $1 billion a year.

* I work for a top MBA employer

Earlier, Halliburton (HAL, Fortune 500) reported better-than-expected net income of $739 million, or 80 cents per share. The oil services company also beat revenue forecasts. Shares edged slightly higher.

Citing strong demand, toymaker Hasbro (HAS) reported a 33% jump in net income to $58.1 million, or 42 cents per share. Despite the strong report, shares fell 4.7%.

Shares of WebMD Health Group (WBMD) plunged more than 30% after the online healthcare information site slashed its sales and earnings guidance for 2011.

* Video - News Corp. under pressure

Fallout from a phone hacking scandal continued to wrack News Corp. (NWSA, Fortune 500) Authorities arrested and then released former News of the World editor Rebekah Brooks over the weekend. News Corp.'s stock lost 4.5%.

Shares of LinkedIn (LNKD) fell 7.5% after analysts at JPMorgan downgraded the stock to 'neutral' from 'overweight.'

Bonds: The price on the benchmark 10-year U.S. Treasury rose early Monday, pushing the yield down to 2.93% from 2.95% late Friday.

World markets: Britain's FTSE 100 shed 1.5%, the DAX in Germany and France's CAC 40 both lost 1.7%.

* More stress for Spanish banks

Shares of Nokia (NOK), Alcatel-Lucent (ALU), Ericsson (ERIC), Bank of Ireland (IRE) and the National Bank of Greece (NBG) were among European ADRs trading lower in the early going as investors worried about how widespread Europe's problems were.

Asian markets ended the session lower. The Shanghai Composite dropped 0.1%, the Hang Seng in Hong Kong lost 0.3%. Japan's Nikkei was closed for a holiday.

Image

Image Yahoo! Finance - Market Update

4:20 pm : Stocks were slapped by sellers again this session. The subsequent slide sent stocks to a new low for July.

The three major equity averages sank steadily in the first couple of hours. All three were down in excess of 1% before pressure started to ease. The market's push up from its session low came after the S&P 500 had managed to resist extending its slide much below the 1300 line. June was the last time the S&P 500 traded below that line. The

broad market never really managed to make any kind of meaningful run higher, however. That left the major equity averages to settle with marked losses.

Tech stocks and energy stocks did a good job of staving off sellers. The two sectors logged losses of 0.3% and 0.4%, respectively. Tech was helped by Apple (AAPL 373.80, +8.88), which printed a record high. Halliburton (HAL 53.12, +0.04) helped oil and gas services stocks after it posted an upside earnings report.

Financials were down more than 2% at their session low, but managed to lessen that to a 1.4% loss. The sector was bogged down by weakness among banks and diversified financial services names like Bank of America (BAC 9.72, -0.28), which is scheduled to report its latest results tomorrow morning.

European bank stocks were especially weak amid lingering concern regarding fiscal conditions and sovereign debt in their home continent. Stress tests throughout the region late last week failed to quell concerns over the state of finances there. Threats of the matter imbued the broader market.

Financial media also focused on the lack of progress in raising the U.S. debt ceiling. The deadline for a decision is still a few weeks away.

Safe havens like gold and the greenback were on the short list of strong performers this session. Gold prices set a record high of almost $1608 per ounce in the face of a stronger dollar, which was up 0.4% at the end of the trading day. However, the dollar had been up close to 1% at its session high.

Advancing Sectors: (None)
Declining Sectors: Tech -0.3%, Energy -0.4%, Consumer Staples -0.6%, Telecom -0.8%, Health Care -0.8%, Utilities -0.9%, Consumer Discretionary -1.1%, Industrials -1.1%, Materials -1.2%, Financials -1.4%DJ30 -94.57 NASDAQ -10.70 NQ100 -0.5% R2K -1.5% SP400 -1.3% SP500 -24.69 NASDAQ Adv/Vol/Dec 537/1.76 bln/2039 NYSE Adv/Vol/Dec 455/874 mln/2604

3:30 pm : For 10 straight sessions gold prices have advanced. The latest round of action took the precious metal to $1603 per ounce for a 0.8% gain. The yellow metal actually set a record high of almost $1608 per ounce along the way. As for silver, prices climbed as high as $40.73 per ounce, but eased back to settle at $40.23 per ounce for a 2.9% gain. Silver hasn't settled above $40 per ounce in more than two months.

Oil prices were pressured all session. The energy component closed pit trade with a 1.3% loss at $95.93 per barrel. It had been down in excess of 2%, for a time. Natural gas traded as low as $4.48 and as high as $4.61, but finished the day flat at $4.54 per MMBtu.

In the backdrop, the dollar was strong all session, and was recently quoted with a 0.5% gain against a basket of major foreign currencies. Its strength comes as the euro turns lower in response to ongoing concerns related to sovereign debt in Europe, although lawmakers continue to struggle to raise the debt ceiling. DJ30 -113.72 NASDAQ -28.12 SP500 -12.62 NASDAQ Adv/Vol/Dec 545/1.38 bln/2034 NYSE Adv/Vol/Dec 398/575 mln/2631

3:00 pm : Stocks have resumed their upturn. The effort has them at their best level since morning as they head into the final hour of trade. There still isn't a single sector in positive territory, though.

Participation has been moderate for most of the session. As such, only a half billion shares have traded hands on the NYSE so far. The lack of participation comes in part because of the sluggish pace of summer, when many are on vacation, but also because of uncertainty surrounding the sovereign debt of Europe. DJ30 -110.52 NASDAQ -31.76 SP500 -12.34 NASDAQ Adv/Vol/Dec 492/1.27 bln/2083 NYSE Adv/Vol/Dec 385/529 mln/2641

2:30 pm : The stock market's recent upturn has stalled. That has left the S&P 500 to remain mired near the 1300 line. Meanwhile, the dollar has drifted back a bit in recent action. It now trades with a 0.5% gain, but it had been up about twice that amount this morning.DJ30 -133.47 NASDAQ -31.54 SP500 -14.56 NASDAQ Adv/Vol/Dec 492/1.18 bln/2072 NYSE Adv/Vol/Dec 406/486 mln/2607

2:00 pm : Stocks are starting to turn upward. The effort has the major market averages up to their best levels since late morning. They are all still down with losses of about 1%, though.

Bank of America (BAC 9.72, -0.28), which will report Tuesday morning ahead of the open, is still down nearly 3%, but the stock has actually climbed about 2% from the 52-week low that it set earlier today.

In the face of this session's losses, Apple (AAPL 369.64, +4.72) has pushed up to a gain of more than 1% for a fresh record high. The company is scheduled to report its latest quarterly results on Tuesday after the close of trade. DJ30 -120.60 NASDAQ -36.06 SP500 -13.07 NASDAQ Adv/Dec 410/2610 NYSE Adv/Dec 491/2051

1:30 pm : Stocks continue to trade along their lows for the day. The sideways drift comes as the S&P 500 crosses the critical 1300 line, but encounters support just below it. Assuming that this session's loss will hold, it will represent a poor follow-up to last week's 2.1% weekly loss.DJ30 -151.98 NASDAQ -40.16 SP500 -16.38 NASDAQ Adv/Dec 346/2682 NYSE Adv/Dec 442/2097

1:00 pm : Stocks have been under pressure all session. The effort has left the S&P 500 to fall more than 1% to a new July low.

Initial selling interest this morning came amid lingering concerns about fiscal conditions and sovereign debt in Europe. Stress tests throughout the region failed to quell those concerns, so the continent's collective weakness took the EuroStoxx 50 down 2.0% to a new 2011 low.

The inability of lawmakers to reach a compromise on raising the debt ceiling is also being widely cited as a growing cause for concern among market participants. That likely explains why Treasuries have traded flat today, even though buyers have favored safe havens this session.

A preference for capital preservation has the dollar up 0.6% against a basket of major foreign currencies. In spite of the greenback's gain, gold has advanced almost 1% to $1604 per ounce, which puts it just off of the record high that it set earlier today.

The gain by gold bullion has helped drive higher shares of metals and mining players in the face of broad market weakness, which has taken all 10 major sectors in to the red to trade with losses of about 1% or more.

Financials have been the poorest performers for virtually the entire session. The sector's 2.0% loss is largely due to weakness among heavyweights in the diversified financial service space.

With stocks under such heavy pressure, the S&P 500 has slipped below the 1300 line for the first time this month. It has yet to extend the move below that mark by any more than a few points, though. DJ30 -156.33 NASDAQ -40.79 SP500 -17.18 NASDAQ Adv/Vol/Dec 440/945 mln/2102 NYSE Adv/Vol/Dec 340/380 mln/2642

12:30 pm : The stock market's slide has steadied, leaving stocks to trade alongside session lows.

Despite the widespread weakness, Treasuries have succumbed to selling pressure after spending most of the morning trading with narrow gains. In turn, the yield on the benchmark 10-year Note is now back above 2.90%. Weakness among Treasuries comes as lawmakers continue to wrangle with raising the debt ceiling ahead of the deadline that is just a few weeks away. DJ30 -152.50 NASDAQ -41.84 SP500 -17.16 NASDAQ Adv/Vol/Dec 414/844 mln/2122 NYSE Adv/Vol/Dec 333/335 mln/2638

12:00 pm : During the first leg of the stock market's slide, the S&P 500 once again broke below its 50-day moving average of about 1313. However, continued selling pressure has taken the S&P 500 beneath 1300, which had appeared to provide some technical support during the past hour. Violating the line has not only left the stock market to sit at a new session low, but the benchmark average is also now at its lowest level of the month.DJ30 -170.90 NASDAQ -40.75 SP500 -19.10 NASDAQ Adv/Vol/Dec 420/750 mln/2093 NYSE Adv/Vol/Dec 365/297 mln/2593

11:30 am : Of the major sectors, energy is in the best shape. It's 0.5% loss is not even half of what the broad market has suffered. Among energy plays, Halliburton (HAL 53.42, +0.34) is a source of strength following its latest quarterly report, which featured a better-than-expected bottom line.

Meanwhile, financials are at the other end of the spectrum. Their 2.2% loss makes them the worst performing sector of this session. Banks have been a big burdon on the group; their weakness has led to a 2.4% loss in the KBW Bank Index. DJ30 -141.98 NASDAQ -36.88 SP500 -14.70 NASDAQ Adv/Vol/Dec 400/615 mln/2070 NYSE Adv/Vol/Dec 380/240 mln/2545

11:00 am : Increased selling pressure has left all three major equity averages to suffer losses in excess of 1%. In the meantime, the dollar has attracted additional support, which has it up 0.8% against a basket of competing currencies.

Despite the greenback's gain, safety seekers have bid up gold prices 0.9% to a new record high above $1604 per ounce. That has helped shares of metals and miners plays like Newmont Mining (NEM 58.52, +1.14) and Barrick Gold (ABX 49.01, +0.70) sporting heady gains in the face of this session's broad market slide. DJ30 -149.02 NASDAQ -31.05 SP500 -15.47 NASDAQ Adv/Vol/Dec 453/490 mln/1980 NYSE Adv/Vol/Dec 408/195 mln/2481

10:30 am : Commodities are trading lower this morning with the majority showing notable losses, while the dollar index is near recently-hit session highs.

Crude oil futures have been in the red all morning and have been steadily trending lower since pit trading began in the energy markets. Crude just hit new session lows of $94.97/barrel and is currently 2.0% lower at $95.34/barrel. Natural gas fell as far as $4.46/MMBtu this morning, but has erased more than half of its losses. In current activity, natural gas is trading 0.3% lower at $4.51/MMBtu.

Precious metals are showing gains, but silver is notably stronger strength than gold this morning. Gold has been in positive territory all morning and rose as high as $1603.80/oz, but is now 0.6% higher at $1599.80/oz. Silver futures rose to session highs of $40.47/oz. earlier this morning and are now up 3.3% at $40.36. DJ30 -125.71 NASDAQ -28.39 SP500 -12.84 NASDAQ Adv/Vol/Dec 442/405 mln/1955 NYSE Adv/Vol/Dec 390/168 mln/2473

10:00 am : Stocks had started to trim their losses in the first few minutes of trade, but they have since turned downward to set new morning lows. The reversal comes amid broad selling pressure, but financials are eperiencing some of the most pronounced selling pressure, which has the sector down 1.1%.

Among financials, diversified service plays are having the most damaging effect on the overall sector. As such, shares of Bank of America (BAC 9.82, -0.18) are down almost 2% to a new 52-week low. DJ30 -119.43 NASDAQ -9.15 SP500 -10.15 NASDAQ Adv/Vol/Dec 610/102 mln/1565 NYSE Adv/Vol/Dec 500/55 mln/2140

09:45 am : The major equity averages have managed to pare some of their losses so that they are now down modestly this morning. Pressure remains broad based, though; all 10 major sectors are in the red.

Tech issues have done a good job of limiting losses, though. The sector is down just 0.1% at the moment. Among tech issues, IBM (IBM 176.29, +0.75) is sporting a modest gain ahead of its quarterly report this evening. The Capital IQ earnings estimate calls for $3.02 per share. Big Blue generated earnings of $2.61 per share for the same period one year ago. DJ30 -69.56 NASDAQ -9.00 SP500 -5.88

09:15 am : S&P futures vs fair value: -5.30. Nasdaq futures vs fair value: -10.80. Stock futures are off of their morning lows, but the cash market is still expected to open in negative territory. Pressure comes in response to renewed weakness in Europe, where a series of stress tests late last week failed to quell concern about the precarious fiscal conditions in the eurozone's periphery. Those same concerns have undercut the euro, which currently trails the dollar by about 0.3% at $1.408. Favor for the relative safety of the dollar has helped it move higher, even though there is still no agreement related to raising the U.S. debt ceiling. The greenback's gain hasn't deterred precious metals from pushing higher. In fact, gold has been trading above $1600 per ounce for most of this morning and silver is back above $40 per ounce. As for Treasuries, the yield on the benchmark 10-year Note is back below 2.90%.

09:05 am : S&P futures vs fair value: -4.20. Nasdaq futures vs fair value: -9.00. Oil prices are down 1.1% to $96.20 per barrel in the first few minutes of trade. Meanwhile, natural gas prices are down a more moderate 0.3% to $4.50 per MMBtu. Precious metals have benefited from an interest in safety. As such, gold prices are up 0.7% to $1601.00 per ounce, while silver prices have soared 3.3% to $40.35 per ounce. Overall action among commodities has the CRB Commodity Index down 0.5%. In the backdrop, the greenback is up 0.5% against a basket of major foreign currencies.

08:30 am : S&P futures vs fair value: -5.90. Nasdaq futures vs fair value: -12.00. Stress tests late last week have failed to calm concern that precarious fiscal conditions continue to linger in various pockets of the eurozone. In turn, both the euro and the region's major bourses have turned lower to trade with marked losses. Specifically, the euro is off by 0.5% against the greenback, but the EuroStoxx 50 has fallen 1.1%. Germany's DAX is currently down 1.1%. Financial plays Deutsche Bank (DB) and Commerzbank are the two heaviest drags on trade there. Adidas and Volkswagen have offered support to broad market trade, however. Meanwhile, France's CAC is off by 1.5%. All 40 of its components are in the red, but financial outfit Societe Generale is in the worst shape as it contends with a 5% loss. Britain's FTSE has fallen to a 1.0% loss. Banks like Royal Bank of Scotland (RBS) and Lloyds Group (LYG) have been the heaviest drags on trade, but Standard Chartered has managed to muster an incremental gain. Only a handful of other names, including Rangold Resources and Fresnillo Plc, have found higher ground.

In Asia, overnight action took mainland China's Shanghai Composite down just 0.1%. Weakness among financials proved to be the difference between a net gain and a net loss for China's broad market measure. In contrast, financials were among the better performers in Hong Kong's Hang Seng. Still, the Hang Seng shed 0.3%. Japan's Nikkei was closed for holiday observance, but it will re-open tomorrow.

08:05 am : S&P futures vs fair value: -5.70. Nasdaq futures vs fair value: -13.80. Stock futures are under pressure this morning. The negative tone comes amid more selling in Europe, where tenuous fiscal conditions continue to trigger higher sovereign debt yields, and the contentious wrangling related to raising the U.S. debt ceiling. Even though a resolution on the U.S. debt ceiling continues to elude lawmakers, the dollar has benefited from this morning's bid for safety. Specifically, the greenback has gained 0.5% against a basket of major foreign currencies. An interest in safety has also helped gold prices push 0.8% higher to trade above $1600 per ounce. Only a handful of quarterly announcements have been made this morning. Among them, Halliburton (HAL) posted an upside earnings surprise. The stock has responded by pushing higher in premarket trade, despite the breadth of weakness ahead of the open. No major economic items are on the calendar for today.

06:57 am : [BRIEFING.COM] S&P futures vs fair value: -8.00. Nasdaq futures vs fair value: -18.00.

06:57 am : Nikkei...Holiday......... Hang Seng...21804.75...-70.60...-0.30%.

06:57 am : FTSE...5780.25...-63.40...-1.10%. DAX...7130.26...-89.90...-1.20%.

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 1 guest


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