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 Post subject: October 5th Wednesday 2011 Emini TF ($TF_F) points +43.50
PostPosted: Wed Oct 05, 2011 10:55 pm 
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Joined: Sat Jan 10, 2009 2:06 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)

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

Trade Performance for Today: +43.50 points or $4350.00 dollars in the Russell 2000 Emini TF ($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=95&t=1020.

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=144&t=1237

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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.

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Market Update

4:30 pm : Stocks overcame a relatively weak start to book another round of big gains, which have resulted in the market's best back-to-back performance in more than a month.

Momentum from the prior session's late surge was tested at the open, when participants contradicted the positive tone of premarket trade to send stocks into the red for the first few minutes of trade. Buyers took little time to step back in, though.

Favor for tech stocks and natural resource plays was the strongest. Tech, which offered leadership for the second straight session, helped the Nasdaq outpace its counterparts on its way to a gain of more than 2%. Yahoo! (YHOO 15.92, +1.46) was a high flyer in response to rumors that Microsoft (MSFT 25.89, +0.55) is interested in the company. Later reports refuted the rumor.

Materials stocks, which lack any kind of meaningful market weight, swung up to a 4.2% gain. Energy stocks climbed to a 3.3% gain, helped along by a spike in crude oil prices, which settled pit trade with at almost $79.70 per barrel for a gain of more than 5% following a weekly inventory report that featured a surprisingly large draw.

Financials dragged on trade for most of the session and were even the cause of a midsession pullback. Down more than 2% at its low, the sector spent all by the final 30 minutes of the day in negative territory as diversified financial services stocks and investment banks more than offset strength among insurers. However, the sector managed to bounce as the broad market staged the last leg of its climb into the close. Financials finished with a gain of more than 1%.

The stock market's final push into the close helped stocks settle near session highs. Stocks have now climbed 4% over the course of the past two sessions.

In the backdrop of today's action, an ADP Employment Change report showed that private payrolls increased by 91,000, which bested the Briefing.com consensus call for an increase of 45,000. The report offers an encouraging preview of the official nonfarm payrolls report, which will be released Friday morning.

The ISM Services Index for September was less exciting. It registered slipped to 53.0 from 53.3 in the prior month, but still narrowly exceeded the 52.8 that had been expected, on average, among economists polled by Briefing.com.

Advancing Sectors: Materials +4.2%, Energy +3.3%, Tech +2.4%, Industrials +2.2%, Consumer Discretionary +1.8%, Health Care +1.6%, Financials +1.2%, Consumer Staples +0.2%
Unchanged: Utilities
Declining Sectors: Telecom -0.3%DJ30 +131.24 NASDAQ +55.69 NQ100 +2.5% R2K +1.5% SP400 +2.1% SP500 +20.09 NASDAQ Adv/Vol/Dec 1761/2.47 bln/798 NYSE Adv/Vol/Dec 2234/1.19 bln/800

3:30 pm : Crude oil futures, which rallied for 5.1% to settle at $79.68 per barrel, snapped a three session losing streak to post sizeable gains today on the back of this morning's bullish inventory data. The data, which showed a draw down versus consensus for a build, helped crude add to overnight gains and traded as high as $79.79 before closing. Natural gas futures ended lower by 7 cents at $3.57 per MMBtu, as they traded steadily lower through the session.

Following yesterday's sell-off, the precious metals rebounded today, with gold posting gains of 1.6% to end at $1641 per ounce and silver finishing higher by 1.8% at $30.35 per ounce. Gold futures rallied sharply off the flat line in afternoon trade, while silver futures traded steadily higher throughout the afternoon.DJ30 +76.86 NASDAQ +45.62 SP500 +11.24 NASDAQ Adv/Vol/Dec 1574/1.9 bln/941 NYSE Adv/Vol/Dec 2022/819.2 mln/1023

3:00 pm : Stocks started to slip from their afternoon perch, but buyers were quick to step back in and offer support. The major equity averages are now back near their best levels of the day.

Shares of Yahoo! (YHOO 15.70, +1.24) have made a strong move on a spike in trading volume to their best level in almost three months. The action comes in response to rumors that Microsoft (MSFT 25.64, +0.30) may be interested in acquiring the company. In contrast, shares of MSFT have slid to afternoon lows. DJ30 +74.48 NASDAQ +46.99 SP500 +13.04 NASDAQ Adv/Vol/Dec 1340/1.68 bln/1150 NYSE Adv/Vol/Dec 1815/685 mln/1180

2:30 pm : Stocks are resting near session highs with only 90 minutes remaining in today's trade.

Natural resource plays are performing the best. Specifically, materials stocks are up 2.8% while energy issues are up 2.4%. Their strength comes alongside a jump in commodity prices, which have given the CRB Commodity Index a 1.9% gain. Just yesterday the CRB set a 2011 low as participants flipped off the risk trade switch prior to the market's dramatic upturn in late day action. DJ30 +71.49 NASDAQ +42.95 SP500 +11.98 NASDAQ Adv/Vol/Dec 1490/1.55 bln/995 NYSE Adv/Vol/Dec 1945/630 mln/1055

2:00 pm : Stocks have extended their recent stretch to set new session highs. The Nasdaq's run continues to outpace that of its counterparts. For instance, the Dow's gain is less than half of the 2% gain currently boasted by the tech-rich Nasdaq.

Financials continue to fight with sellers, though. The sector, although well above its session low, is still down 0.2% for the day. Interestingly, utilities (-0.5%), telecom (-0.3%), and consumer staples stocks (-0.2%), all of which are defensive in nature, make up the only other sectors that have yet to find higher ground. DJ30 +92.49 NASDAQ +47.51 SP500 +13.96 NASDAQ Adv/Vol/Dec 1435/1.44 bln/1020 NYSE Adv/Vol/Dec 1855/580 mln/1135

1:30 pm : Stocks have started to reclaim their gains. The action has put pressure on Treasuries, which are back near session lows. As a result, the yield on the benchmark 10-year Note is now back at 1.90%.DJ30 61.04 NASDAQ 33.8 SP500 9.09 NASDAQ Adv/Vol/Dec 1400/1.35 bln/970 NYSE Adv/Vol/Dec 1720/550 mln/1240

1:00 pm : The major equity averages overcame selling at the open with help from tech and materials stocks, but weakness in the financial sector has undermined recent action.

Although trade in Europe took the region's major bourses markedly higher and the ADP Employment Change for September proved better-than-expected by showing an increase of 91,000 in private payrolls, the major equity averages slipped at the start of today's trade. Stocks managed to garner buying interest before long, extending their climb through the release of an in-line ISM Services Index of 53.0 for September.

For the second straight session, tech helped lift the market out of its morning lull. The sector is currently up 1.5% and has been especially influential giving the Nasdaq a nice lead over its counterparts.

While tech is the largest sector by market weight, materials stocks collectively account for one of the smallest sectors by weight. That has limited their ability to provide leadership. Nonetheless, the sector is up almost 2% today. Financials have failed to attract buyers after the sector soared to a 4% gain yesterday.

The sector's slide to a 1.5% loss comes as diversified financial services plays and investment banks and brokerage issues fall out of favor. Weakness in the sector has undermined sentiment and, as a result, challenged broad market gains in early afternoon action. DJ30 +25.28 NASDAQ +26.26 SP500 +4.54 NASDAQ Adv/Vol/Dec 1335/1.25 bln/1010 NYSE Adv/Vol/Dec 1710/505 mln/1250

12:30 pm : Stocks have started to trend lower, pulling the major equity averages off of their midsession highs. The action has left both the Dow and the S&P 500 to trade near the neutral line while the Nasdaq hands over about half of what it had gained.

There is no clear cause or obvious catalyst to account for the market's recent pullback. After all, tech stocks, collectively up 1.0%, continue to provide support. DJ30 -2.34 NASDAQ +15.07 SP500 +1.53 NASDAQ Adv/Vol/Dec 1330/1.6 bln/1075 NYSE Adv/Vol/Dec 1710/465 mln/1255

12:00 pm : The Nasdaq, which has outpaced its counterparts for the second straight session, has just set a fresh session high. Its strength comes as large-cap names like Amazon.com (AMZN 216.43, +3.93), eBay (EBAY 30.28, +0.93), Dell (DELL 15.15, +0.62), and Cisco (CSCO 16.22, +0.64) all offer leadership. For two straight days, though, Apple (AAPL 372.55, +0.05) has struggled to keep up with the rest of the Nasdaq. Its relative weakness follows the unveiling of its latest iPhone iteration.DJ30 +46.49 NASDAQ +34.98 SP500 +7.36 NASDAQ Adv/Vol/Dec 1515/1.04 bln/790 NYSE Adv/Vol/Dec 2065/415 mln/880

11:30 am : Financials remain out of favor. The sector's weakness has left it to contend with a 0.9% loss, which makes it the worst performing sector this morning. Diversified financial services giants like Bank of America (BAC 5.70, -0.07) and Citigroup (C 24.05, -0.34) have been especially heavy drags on the sector, although insurers like MetLife (MET 28.42, +0.93) and Lincoln National (LNC 15.11, +0.43) are displaying strength.DJ30 +54.57 NASDAQ +28.39 SP500 +7.35 NASDAQ Adv/Vol/Dec 1500/917 mln/855 NYSE Adv/Vol/Dec 1965/370 mln/955

11:00 am : After chopping along in negative territory with modest losses, stocks have worked their way to substantial gains. Their upturn comes with help from the tech sector, which had been a source of support in the prior session. The largest sector by market weight is now up 1.5%, thanks to strong buying interest in semicoductor-related names.

Still, materials stocks are in the best shape. That sector has run ahead to a 2.3% gain. Despite such a strong move, the sector's lack of market weight has limited its ability to lead the broad market. DJ30 62.14 NASDAQ 27.77 SP500 8.40 NASDAQ Adv/Vol/Dec 1465/765 mln/765 NYSE Adv/Vol/Dec 2035/310 mln/850

10:35 am : Oil prices have extended their climb so that they now sport a 3.5% gain at $78.35 per barrel. The latest leg of gains follows weekly inventory data, which showed a draw of 4.7 million barrels. That contrasts with the consensus call for a build of 1.8 million barrels.

Natural gas prices have turned lower since opening pit trade with a modest gain. The energy component is now down 0.8% to $3.61 per MMBtu.

Interest in gold has also dwindled. The yellow metal now trades with a narrow loss at $1613 per ounce. Silver continues to contend with a 1% loss at $29.55 per ounce.

The CRB Commodity Index now sports a 1.3% gain, which makes for a session high. Its move comes mostly because of oil's bounce. DJ30 +7.35 NASDAQ +4.54 SP500 +1.36 NASDAQ Adv/Vol/Dec 810/300 mln/1265 NYSE Adv/Vol/Dec 1165/135 mln/1605

10:00 am : The ISM Services Index for September was just released. It registered a reading of 53.0, which is only a tad better than the 52.8 that had been generally expected among economists surveyed by Briefing.com. However, the latest reading marks a slight slip from the reading of 53.3 that was posted for the prior month.

Stocks haven't really shown any kind of a response to the report. Instead, the major equity averages continue to chop along with modest losses. DJ30 -5.60 NASDAQ -9.25 SP500 -2.58 NASDAQ Vol N/A NYSE Vol N/A

09:45 am : The mood among market participants soured at the open of trade, causing stocks to slide. The major averages are trying to retrace the move, though.

Financials led this morning's downturn after it had finished the prior session with a gain in excess of 4%. The sector is still down 1.1% this morning. Bank stocks are dragging on the sector.

Materials stocks have managed to put together an impressive start, though. The sector's push up to a 0.4% gain with help from steel stocks and diversified metals and miners issues. DJ30 -24.06 NASDAQ -13.19 SP500 -3.85

09:15 am : S&P futures vs fair value: -0.90. Nasdaq futures vs fair value: -5.80. Stock futures suggest that the cash market will open on a positive note, thereby extending the late session rally that resulted in a gain of more than 2% for the broad market. Momentum from that late move and an improved mood among those that trade the European bourses have been credited for the positive tone to today's premarket trade. A better-than-expected ADP Employment Change for September is also in the backdrop, but still to come is the latest ISM Services Index (10:00 AM ET). Disappointing eurozone PMI Services readings were reported earlier, but they have been shrugged off, as has news that analysts at Moody's downgraded Italy's debt.

09:05 am : S&P futures vs fair value: +0.40. Nasdaq futures vs fair value: -4.80. Oil prices fell to a 52-week low yesterday, but they have rebounded nicely this morning. The energy component's 2.3% climb to $77.40 per barrel precedes the latest weekly inventory report, which will be posted at 10:30 AM ET. Natural gas prices are up, too. Contracts were last quoted at $3.65 per MMbtu for a 0.3% gain. As for precious metals, gold prices are up 0.6% to $1625 per ounce, but silver has slid 1.1% to $29.52 per ounce. Overall action in the commodity complex has the CRB Commodity Index up 0.9% after it set a 2011 low yesterday.

08:30 am : S&P futures vs fair value: -0.90. Nasdaq futures vs fair value: -7.50. Providing a glimpse of the official payrolls report on Friday, the ADP Employment Change for September showed that private payrolls increased by 91,000, which is far better than the increase of 45,000 that had been expected, on average, among economists polled by Briefing.com. Stock futures ticked higher in the moments that immediately followed the report, but buying interest has since subsided. As a result, stock futures now trade with only a narrow lead over fair value.

08:05 am : S&P futures vs fair value: +1.00. Nasdaq futures vs fair value: -3.50. The prior session saw stocks slide more than 2% to set new 52-week lows, but a late rally resulted in a broad market gain of more than 2% for the day. Such a strong finish and an improved mood in Europe have helped stock futures trade higher this morning, although futures are shy of their best levels of the morning. The prior session's strong finish and the positive tone to trade in Europe comes in conjunction with reports that officials in Europe are considering ways to recapitalize banks in the region. Meanwhile, news that analysts at Moody's downgraded Italy's debt hasn't come as any kind of a surprise, and disappointing PMI Service Index results from the eurozone have been disregarded. Market participants get a dose of domestic data today. The latest ADP Employment Report is due at 8:15 AM ET then the ISM Services Index follows at 10:00 AM ET.

06:47 am : [BRIEFING.COM] S&P futures vs fair value: +5.40. Nasdaq futures vs fair value: +4.00.

06:47 am : Nikkei...8382.98...-73.10...-0.90%. Hang Seng...Holiday.........

06:47 am : FTSE...5494.59...+50.00...+0.90%. DAX...5343.48...+126.80...+2.40%.

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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