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 Post subject: September 13th Tuesday 2011 Emini TF ($TF_F) points +17.60
PostPosted: Tue Sep 13, 2011 11:14 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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click on the above image to view today's trading summary

Trade Performance for Today: +17.60 points or $1760.00 dollars in the Russell 2000 Emini TF ($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, all trades were posted real-time in the free #FuturesTrades chat room. Today's #FuturesTrades trading chat room logs provides details (e.g. time, price, contract size) about each one of my trades from entry to exit along with price action commentary as the trade traversed...all archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=94&t=997.

To join our free chat room...registration instructions located at a different forum @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=5&t=630

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=143&t=1197

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Market Summaries

The below summaries by Bloomberg, CNNMoney and Yahoo! Finance helps me to do a quick review of the fundamentals, FED/ECB/IMF actions or any important global economic events 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 results in swing points and strong continuation price actions. 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. Just as important, these summaries becomes my archives to allow me to understand what was happening on any given trading day in the past...something I can not get from my broker statements alone.

U.S. Stocks Rise, Erase Loss as European Banks Rally

Sept. 13 (Bloomberg) -- Bloomberg's Deborah Kostroun reports on the performance of the U.S. equity market today. U.S. stocks rose, sending the Standard & Poor's 500 Index higher for a second day, as French banks eased concerns over their access to funding and investors watched for signs of progress in taming Europe's debt crisis.

Stocks End Higher On A Choppy day

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

By CNNMoney staff September 13, 2011: 5:21 PM ET

NEW YORK (CNNMoney) -- Stocks closed in positive territory to end a choppy trading day. After a rough start Tuesday, U.S. stocks followed world markets slightly higher as worries about a possible credit downgrade of French banks receded.

The S&P 500 (SPX) closed the day up 11 points, or 0.9%, while the Nasdaq Composite (COMP) gained 37 points, or 1.5%.

The Dow Jones industrial average (INDU) finished up 45 points, or 0.4%, higher. Seven of the blue-chip index's 30 components landed in the red.

"The tone of the market changed today from a seller rally to a buying the dips kind of market," said Sam Ginzburg, head of capital markets at First New York Securities. "Bids came back into the market."

The change in sentiment resulted at least partly from French banks BNP Paribas and Societe General debunking rumors that they were having trouble gaining access to funding. These rumors sparked the early morning sell-off in the U.S.

"We're taking all our cues from Europe right now," said Peter Boockvar, the Equity Strategist at Miller Tabak + Co. "If there's stability in the European markets, it's a reason for buyers to come into our markets."

* Europe: 5 things you need to know

European markets closed the day in positive territory. Britain's FTSE 100 (UKX) gained 0.9%, France's CAC 40 (CAC40) added 1.41% and the DAX (DAX) in Germany rose 1.85%.

Investors are so on edge about all things Europe that every little bit of news gets a reaction -- for better and worse. But they are still anxiously waiting for more news on the possibility of a Greek default.

Indeed, analysts and traders said that in this environment, news about the global economy is driving markets more than individual companies' performance.

"Fundamentals of many companies look good but that's been overshadowed by the macroeconomic uncertainty coming out of Europe," said Matthew Rubin, the director of investment strategy at Neuberger Berman. "I don't think we've gotten past the volatility we're in."

Stocks finished a choppy session higher Monday, as investors pinned their hopes for a turnaround in the last hour of trading, following a Financial Times report that said China was in talks with Italy about potentially buying the cash-strapped country's debt.

World markets: Asian markets ended mixed. The Shanghai Composite (SHCOMP) lost 1.1% while Japan's Nikkei (N225) added 1%. The Hang Seng (HSI) in Hong Kong was closed for a holiday.

Economy: The latest data for imports and exports showed that import prices declined 0.4% in August, while export prices rose 0.5%.

Companies: Shares of consumer-electronics retailer Best Buy (BBY, Fortune 500) fell precipitously, down 6.5%. It reported earnings per share of 47 cents on sales of $11.35 billion before the opening bell. Both figures missed forecasts.
More layoffs looming on Wall Street

Shares of Aetna (AET, Fortune 500) rose 5.4%, after the health insurer raised its full-year outlook, citing strong results for the current quarter.

Currencies and commodities: The dollar was up against the British pound and the euro, but lost slightly against the Japanese yen.

Oil for October delivery gained $2 to $90.20 a barrel.

Gold futures for December delivery added $23.10 to $1,836.40 an ounce.

Bonds: The price on the benchmark 10-year U.S. Treasury edged lower, and the yield edged up to 1.99%.

Image

Market Update

4:30 pm : Despite choppy trade, stocks scored strong gains today. The effort made for the market's first back-to-back advance of the month.

Caution related to precarious fiscal and financial conditions in Europe initially kept stocks in check this morning, but before long bank stocks and other financial issues began to bounce, providing an impetus for the broad market to make its way higher. Although the move encountered challenges from sellers, stocks showed resilience by staging a gradual climb to close near session highs. Stocks were helped by headlines that suggested BRIC countries are in talks to purchase eurozone debt.

For the second straight session the Nasdaq outperformed its counterparts. Its strength came as semiconductor stocks extended their prior session climb, taking the Philadelphia Semiconductor Index 2% higher to its best level in one month.

Industrial stocks were the best performers in the broad market. As a group, they climbed 1.9%. Energy stocks and consumer staples stocks lagged all session. The two sectors settled with gains of 0.3% and 0.2%, respectively. Best Buy (BBY 23.35, -1.61) was one of the poorest individual names following disappointing quarterly earnings results, which caused many analysts to reconsider the retailer's business structure. DJ30 +44.73 NASDAQ +37.06 NQ100 1.3% R2K 1.8% SP400 1.5% SP500 +10.60 NASDAQ Adv/Vol/Dec 1932/1.93 bln/609 NYSE Adv/Vol/Dec 2337/1.07 bln/687

3:30 pm : Broad buying among commodities helped the CRB Commodity Index climb to a 0.5% gain. It is up only 0.9% this year, though.

Among its more widely watched components, oil was a top performer today. Futures contract prices closed with the commodity priced 2.3% higher at $90.21 per barrel. Elsewhere in the energy complex, natural gas prices scored a 2.6% gain by settling pit trade at $3.98 per MMBtu.

Precious metals performed well, too. Specifically, gold prices gained 0.9% to close pit trade at $1830 per ounce. Meanwhile, silver settled at $41.19 per ounce for an even stronger gain of 2.4%. DJ30 +53.05 NASDAQ +37.35 SP500 +10.98 NASDAQ Adv/Vol/Dec 1840/1.42 bln/690 NYSE Adv/Vol/Dec 2170/695 mln/830

3:00 pm : Stocks began to roll over from afternoon highs, but have since stabilized. Support from buyers coincides with recent headlines that suggest members of the BRIC nations -- that is, Brazil, Russia, India, China -- are in preliminary talks to purchase eurozone sovereign debt. Just yesterday, word circulated that a sovereign wealth fund from China was interested in purchasing debt from Italy.

Recent headlines have also helped take the euro higher, so that it now sports a 0.4% lead over the greenback. The euro is up a relatively tame 2.3% year to date. DJ30 +43.48 NASDAQ +34.71 SP500 +10.24 NASDAQ Adv/Vol/Dec 1890/1.28 bln/620 NYSE Adv/Vol/Dec 2280/615 mln/705

2:30 pm : The Nasdaq continues to climb, leaving its counterparts behind. Building on their prior session performance, semiconductor stocks have provided a lift to the tech-rich index. Strength among semiconductor plays has the Philadelphia Semiconductor Index up about 1.7%, but the Semiconductor HOLDRs ETF (SMH 29.73, +0.60) is up more than 2%.

The Dow continues to trail both the Nasdaq and the S&P 500 (it's percentage gain is less than half of what the Nasdaq has achieved). The Dow's underwhelming performance comes as most blue chips muddle along with only modest gains. DJ30 +75.30 NASDAQ +40.57 SP500 +13.21 NASDAQ Adv/Vol/Dec 1805/1.18 bln/685 NYSE Adv/Vol/Dec 2130/575 mln/845

2:00 pm : Stocks have added gradually to their afternon gains. In turn, the broad market is back in line with the session high that it set this morning.

The Treasury Budget for August was just posted, but participants haven't really reacted to it. A deficit of $134.2 billion was reported. That's deeper than the $90.5 billion deficit reported for the prior month. It's also a bit steeper than the $132 billion deficit that had been broadly expected. DJ30 +42.21 NASDAQ +33.05 SP500 +9.79 NASDAQ Adv/Vol/Dec 1780/1.05 bln/690 NYSE Adv/Vol/Dec 2085/520 mln/880

1:30 pm : The yield on the 10-year Note is now back above 2.0%, although only by a single basis point. The move comes after results from a $21 billion auction of 10-year Notes induced selling, mostly because of the weak demand, which actually made for the least dollar demand since December.

Specific metrics for the auction include a bid-to-cover of 3.03, dollar demand of $63.6 billion, and an indirect bidder participation rate of 48.5%. For comparison, the prior auction produced a bid-to-cover of 3.22, dollar demand of $77.3 billion, and an indirect bidder rate of 35.2%. An average of the past six auctions results in a bid-to-cover of 3.18, dollar demand of $69.9 billion, and an indirect bidder rate of 44.3%. DJ30 +34.17 NASDAQ +25.77 SP500 +7.93 NASDAQ Adv/Vol/Dec 1780/950 mln/650 NYSE Adv/Vol/Dec 2040/475 mln/910

1:00 pm : As was the case in the prior session, stocks overcame early weakness attributable to concerns about Europe, but were eventually backed down. Unlike yesterday, though, the broad market has managed to remain in positive territory.

Stocks gyrated ahead of the open in response to conflicting rumors that Germany and France are preparing a statement regarding support plans for Greece, but participants were initially inclined to sell in the first few minutes of trade. That caused the broad market to slip, but a bounce by banks and the rest of the financial sector helped drive the market higher.

Although stocks lost momentum before the S&P 500 could come in contact with its 20-day moving average, near 1177, the market has managed to fend off attempts to take it into negative territory. That resilience has helped it reclaim some of its morning gains.

Financials provided leadership this morning, but the sector is now up just 0.5%, which is less than half of what it had sported at its session high. Industrials have managed to maintain heady gains, however; the sector is up an enviable 1.6% amid strength in Cummins (CMI 93.16, +6.14), which is up sharply after the company issued certain financial targets during a conference.

In contrast, Best Buy (BBY 22.88, -2.08) has dropped sharply to a new two-year low following an earnings miss, which has been fodder for the argument that the retailer's business model has become structurally flawed.

As a sector, energy stocks have lagged all session, although the their current gain of 0.1% marks a nice improvement from the 1% loss that they had endured earlier today. The sector's lackluster action comes in the face of a jump in oil prices, which were last quoted with a 1.8% gain at $89.75 per barrel.

Results from an auction of 10-year Notes are due at any moment. The yield on the benchmark Note remains right below 2.0% ahead of them. DJ30 +21.64 NASDAQ +24.37 SP500 +7.09 NASDAQ Adv/Vol/Dec 1700/870 mln/705 NYSE Adv/Vol/Dec 1895/440 mln/1030

12:30 pm : The top of the hour brings in results from the sale of $21 billion in 10-year Notes. The auction will follow up on yesterday's relatively weak 3-year Note auction.

With a yield near 2.00%, the 10-year Treasury Note can hardly be called a value buy. However, plenty money continues to pursue a safe place to park, so the auction should see decent support. Plus, there is the possibility that participants may be looking to get ahead of efforts by the Fed to sell short bonds and buy long bonds.

Steady action in Treasuries has kept them moving sideways for most of the session. In turn, the yield on the 10-year Note has been flirting with 2.0% for the past couple of hours. DJ30 -15.74 NASDAQ +17.30 SP500 +2.65 NASDAQ Adv/Vol/Dec 1675/785 mln/725 NYSE Adv/Vol/Dec 1835/400 mln/1060

12:00 pm : The stock market continues to dance along the neutral line. The lack of direction today comes amid ongoing concerns about the economic, fiscal, and financial health of Europe. Despite the presence of such concerns, the euro has managed to advance 0.2% againt the greenback.

At the same time, the yen has managed to move 0.4% higher against the dollar. Despite the relative strength of the yen and the euro, Britain's sterling pound has shed 0.3% versus the dollar. That action has kept the Dollar Index near the neutral line for most of the session. DJ30 -41.63 NASDAQ +7.55 SP500 -0.57 NASDAQ Adv/Vol/Dec 1565/665 mln/805 NYSE Adv/Vol/Dec 1775/350 mln/1100

11:30 am : Stocks are drifting lower. The action has left the Dow to trade with a modest loss, but left the S&P 500 at the flat line. The Nasdaq has managed to maintain a modest gain, though.

Ciena Corp (CIEN 13.53, +0.71) has helped the Nasdaq trade with relative strength. The stock's 5% spike comes after Soros Fund Management disclosed a 5% stake in the company. DJ30 -26.53 NASDAQ +7.03 SP500 +0.49 NASDAQ Adv/Vol/Dec 1600/555 mln/755 NYSE Adv/Vol/Dec 1785/285 mln/1075

11:00 am : Action has been choppy, but the broad market has managed to remain in positive territory with a modest gain. Financials had been an early source of leadership, but the sector has since pulled back to trade with a 0.7% gain. Industrials, up 1.2%, are now today's top performers overall.

Meanwhile, trade among Treasuries has weakened. Selling in the fixed income space has sent the yield on the benchmark 10-year Note back near 2%. Auction results for a $21 billion lot of 10-year Notes will be released at 1:00 PM ET. It will be interesting to see whether or not the Note's relatively low yield, which descended to record low levels last week, leads to any demand destruction. DJ30 -15.14 NASDAQ +14.02 SP500 +3.53 NASDAQ Adv/Vol/Dec 1700/430 mln/595 NYSE Adv/Vol/Dec 2035/220 mln/790

10:35 am : The dollar index has been in a downtrend in recent trade and fell to new session lows of around 76.87 about 20 minutes ago, which gave a boost to the commodity complex.

Crude oil futures have been in positive territory all morning and hit session highs of $89.93/barrel just ahead of pit trading. The energy component remains near those highs in current activity and is now up 1.4% at $89.40/barrel.

Natural gas is also showing nice gains this morning after climbing steadily higher and just hit new a session high of $4.02/MMBtu. Currently, nat gas is up 3.4% at $4.01/MMBtu

Gold is showing mild gains today and is about 3.8% lower from Friday's high. Gold has been trading just above the unchanged line for the majority of morning activity and is currently 0.2% at $1817.70/oz. Silver is also showing modest gains; currently up 0.9% at $40.60/oz.DJ30 +43.52 NASDAQ +27.64 SP500 +8.23 NASDAQ Adv/Vol/Dec 1786/396 mln/496 NYSE Adv/Vol/Dec 1927/203 mln/880

10:00 am : Financials have helped lift the broader market back from an opening slide. The sector has already run ahead to a 1.2% gain. Among financials, bank stocks are in especially strong shape. As such, the KBW Bank Index is up 2.4%, which builds on its late-day rally in the prior session.

Energy stocks continue to lag, though. Although the sector has improved its position, it still remains in the red with a 0.2% loss. DJ30 +31.03 NASDAQ +20.83 SP500 +7.28 NASDAQ Adv/Vol/Dec 1235/72 mln/770 NYSE Adv/Vol/Dec 1605/55 mln/1010

09:45 am : Stocks have turned lower in the opening minutes of trade. The downturn, although broad based, has been driven by energy stocks, which are down 0.7%. Among energy issues, oil and gas exploration and production plays are in some of the worst shape. The decline by energy stocks comes even though oil prices are sporting a 1.2% gain at $89.30 per barrel.DJ30 -59.56 NASDAQ +0.03 SP500 -4.19

09:15 am : S&P futures vs fair value: +1.10. Nasdaq futures vs fair value: +4.00. After being dragged down amid ongoing concerns about conditions in Europe, stock futures have worked their way higher so that a relatively flat start to today's trade appears to be in order. That said, stock futures are an imperfect indicator of opening action, let alone the shape of things to come as trade progresses. No doubt, though, participants will continue to take their cues from Europe, where many of the region's major bourses now sport varied gains. Only a modicum of corporate news and data has been made this morning. Specifically, Best Buy (BBY) posted earnings results that came short of the consensus forecast. That has caused its shares to slip ahead of the open. As for data, no real reaction was made to import and export price action during August. Later today (1:00 PM ET) participants get results from the latest auction of 10-year Treasury Notes. The benchmark 10-year Note is hugging the neutral line ahead of the auction.

09:05 am : S&P futures vs fair value: +0.90. Nasdaq futures vs fair value: +4.00. Early morning strength in crude oil has extended into early pit trade, giving the energy component a 1.6% gain at $89.60 per barrel. Natural gas is also up sharply; it was last quoted with a 1.3% gain at $3.94 per MMbtu. Precious metals have been bid higher, too. In turn, gold prices are up 0.9% to $1829 per ounce while silver prices are at $40.60 per ounce so that they, too, sport a 0.9% gain. Collective strength among commodities has the CRB Commodity Index up 0.6%. Just yesterday the CRB was at its lowest level in more than two weeks.

08:35 am : S&P futures vs fair value: +0.90. Nasdaq futures vs fair value: +5.00. Stock futures have made a strong upward push in recent action. The move coincides with a bounce by the euro and, as a result, a dip by the dollar. The latest dose of import and export price data were just posted a few minutes ago. Export prices, excluding agricultural goods, increased by 0.3% during August. That marks a pick-up from the tepid 0.1% increase that had been posted for the prior month. Meanwhile, August import prices, excluding oil, increased by 0.2%, just as it had in the prior month.

08:05 am : S&P futures vs fair value: -5.70. Nasdaq futures vs fair value: -5.00. Stocks rallied late in the prior session to settle with solid gains, but momentum from that move has been lost in overnight trade. That has made stock futures susceptible to some morning selling pressure. Although futures have fought their way up from premarket lows, selling interest continues to come in reaction to concerns about Europe's fiscal and financial health. To that point, there have been conflicting reports this morning that France and Germany are preparing a statement regarding plans for providing support to Greece. Although stocks aren't seeing much support this morning, commodities have benefited from buying interest. In turn, the CRB Commodity Index is up by 0.5%, led by an early 1.6% jump in crude oil prices to $89.60 per barrel. Elsewhere, the greenback has made only an incremental gain against a collection of competing currencies while Treasuries are generally flat. Treasuries will come into closer focus with results from an auction of 10-year Notes at 1:00 PM ET.

06:46 am : [BRIEFING.COM] S&P futures vs fair value: -9.20. Nasdaq futures vs fair value: -13.50.

06:46 am : Nikkei...8616.55...+80.90...+1.00%. Hang Seng...Holiday.........

06:46 am : FTSE...5082.77...-46.90...-0.90%. DAX...5032.13...-40.20...-0.80%.

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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