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 8:08 am

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: October 20th Thursday 2011 Emini TF ($TF_F) points +14.00
PostPosted: Thu Oct 20, 2011 11:39 pm 
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:
102011-wrbtrader-PnL-Blotter-Profit-1400.png
102011-wrbtrader-PnL-Blotter-Profit-1400.png [ 74.43 KiB | Viewed 265 times ]

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

Trade Performance for Today: +14.00 points or $1400.00 dollars in the Russell 2000 Emini TF ($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=1032.

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

-----------------------------

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. Stock Market Advances as EU Considers Rescue Fund

Oct. 20 (Bloomberg) -- Bloomberg's Deborah Kostroun reports on the performance of the U.S. equity market today. U.S. stocks rose, recovering from earlier losses, as European governments considered deploying $1.3 trillion in funds to tame the sovereign debt crisis.

Attachment:
102011-Key-Price-Action-Markets.png
102011-Key-Price-Action-Markets.png [ 536.33 KiB | Viewed 267 times ]


Image

Market Update

4:30 pm : Movements in the stock market today were closely correlated with comments about debt talks in the eurozone, even if headlines suggested that officials there are doing little more that paying lip service to the topic.

The major equity averages spent the first part of the session chopping along listlessly before participants were prompted to send stocks lower. Their efforts came in response to reports about the possibility that an EU Summit this coming weekend could be postponed. Any delay would only underscore the lack of progress in eurozone debt talks.

However, word that leaders of France and Germany will meet in coming days began to bring buyers back into the fold. That headline came right about the time that the S&P 500 was able to find technical support just below the psychologically-significant 1200 line.

Financials emerged as leaders, but the broad market was initially slow to follow the sector's lead. Financials finished near their session high with a 1.8% gain. Regional lender Fifth Third (FITB 11.63, +0.97) was especially strong on the back of a better-than-expected quarterly report. In contrast, American Express (AXP 46.19, +0.06) only found higher ground in the final minutes, despite an upside earnings surprise of its own.

eBay (EBAY 32.15, -1.03) matched the consensus earnings estimate, but its shares still traded sharply lower, making the stock one of the worst performers in the Nasdaq, which lagged its counterparts for the second straight session. Tech was the real source of weakness for the Nasdaq, though. The sector logged a 0.5% loss for the session, adding to the 2% decline that it suffered yesterday.

There was deluge of data today, including initial jobless claims for the week ended October 15. Claims totaled 403,000, which is spot on with what had been expected, among economists polled by Briefing.com. The latest tally is also little changed from the upwardly revised count of 409,000 claims recorded for the prior week.

The latest Philadelphia Fed Survey improved to 8.7 for October from the -17.5 that was posted in September. The October reading had been expected to remain negative, but improve to merely -8.8.

Existing home sales set an annualized rate in September of 4.91 million units, which is only slightly less than the pace of 4.92 million units that had been generally anticipated among economists surveyed by Briefing.com. The pace recorded for September marked a slowdown from the rate of 5.06 million units posted for the prior month.

Leading Indicators increased by 0.2%, which narrowly missed the 0.3% increase that had been broadly expected.

Advancing Sectors: Financials +1.8%, Materials +1.0%, Energy +0.7%, Utilities +0.6%, Industrials +0.6%, Consumer Staples +0.5%, Consumer Discretionary +0.4%, Health Care +0.1%
Declining Sectors: Telecom -0.1%, Tech -0.5%DJ30 +37.16 NASDAQ -5.42 NQ100 -0.5% R2K +0.3% SP400 +0.4% SP500 +5.51 NASDAQ Adv/Vol/Dec 1193/2.04 bln/1288 NYSE Adv/Vol/Dec 1806/958 mln/1174

3:30 pm : There was plenty of headline risk today for commodities, as uncertainty about what exactly will happen next in the euro zone took center stage. In late-morning trade, the euro fell sharply on reports that German Ruling Coalition sources said the EU Summit will not reach a decision on EFSF leveraging. This headlined followed reports that the EU Summit might be delayed. These headlines, and numerous other, caused confusion as to what exactly was going to happen and when, and in turn pressured the euro. Gold shed 2% to close at $1612.90 while silver ended down 2.9% at $30.25 per ounce. Both metals sold off sharply on the back of the rally in the dollar/sell-off in the euro. Gold put in lows at $1604.70, while silver broke below $30 to put in lows at $29.93. Both metals bounced modestly off those lows heading into the close.

Natural gas, which ended up 1.2% at $3.63 per MMBtu, surged on the back of this morning's inventory data, which showed a smaller-than-expected build. Futures jumped approximately 10 cents to session highs at $3.72, but pulled back from those highs to give a majority of gains back. Crude oil finished lower by 0.9% at $85.30 per barrel. Prices were pressured by the rally in dollar. They put in lows at $84.22, but managed to rally off those lows to end with a 0.9% decline. DJ30 +14.72 NASDAQ -8.52 SP500 +5.93 NASDAQ Adv/Vol/Dec 1038/1.7 bln/1431 NYSE Adv/Vol/Dec 1507/698.7 mln/1500

3:00 pm : After spending some time dancing along the neutral line, stocks have managed to move to new session highs. While that has given the Dow and S&P 500 solid gains, the Nasdaq is only now at the unchanged mark.

With only an hour remaining in today's trade, participants are readying themselves for the next round of earnings reports. After the close Microsoft (MSFT 27.08, -0.05), Capital One (COF 40.31, +0.56), and Chipotle Mexican Grill (CMG 308.50, -1.77) will report their latest results. Tomorrow morning brings the latest from Dow components General Electric (GE 16.75, +0.23), McDonald's (MCD 88.97, -0.65), and Verizon (VZ 37.00, -0.05). DJ30 +57.71 NASDAQ +0.14 SP500 +7.96 NASDAQ Adv/Vol/Dec 1120/1.50 bln/1315 NYSE Adv/Vol/Dec 1645/600 mln/1305

2:30 pm : The broad market continues to chop along the with only a modest gain. It has been slow to follow the lead of the financial sector, which currently sports an enviable gain of 0.8%.

Outside of equities, the benchmark 10-year Note is only up a few ticks for the session. That has kept its yield at 2.15%.

Commodities continue to trade with weakness. That has the CRB Commodity Index down 1.1% on the day.

As for currencies, the Dollar Index is unchanged at the moment, but the euro is down about 0.2% to $1.374. DJ30 +6.28 NASDAQ -13.77 SP500 +1.52 NASDAQ Adv/Vol/Dec 900/1.40 bln/1515 NYSE Adv/Vol/Dec 1260/550 mln/1665

2:00 pm : Stocks have struggled to build on their recent gains. In turn, the broad market continues to trade only modestly above the neutral line.

Financials, which were down more than 1% earlier, are now sporting a 0.6% gain. Of all the major sectors, they are in the best shape.

In contrast, tech stocks remain mired in the red. As such, the sector is wrestling with a 0.7% loss. That continues to undermine the Nasdaq's efforts to join its counterparts in positive territory.

While tech stocks are generally weak, casino and resort operator Wynn Resorts (WYNN 122.30, -7.97) is one of this session's poorest performers. The stock's slump comes after the company's latest earnings results failed to match what Wall Street had expected. DJ30 +12.04 NASDAQ -9.99 SP500 +1.58 NASDAQ Adv/Vol/Dec 1000/1.26 bln/1395 NYSE Adv/Vol/Dec 1440/485 mln/1485

1:30 pm : Stocks continue to climb. The effort has both the Dow and the S&P 500 back in positive territory. The Nasdaq hasn't yet accomplished that feat.

The stock market's recent rebound marks an extension of the move that began after the S&P 500 held support just below the 1200 line. Headlines suggesting that leaders from France and Germany will meet to discuss the issues facing the eurozone during the weekend. DJ30 +26.49 NASDAQ -5.07 SP500 +3.88 NASDAQ Adv/Vol/Dec 715/1.14 bln/1695 NYSE Adv/Vol/Dec 1115/430 mln/1790

1:00 pm : Trade was choppy this morning, but stocks were pushed lower in response to headlines suggesting that an EU Summit scheduled for this coming weekend isn't completely insulated from the possibility of a delay.

The notion that details and plans to implement an effective eurozone bailout plan continues elude European leaders undermined sentiment this morning, driving stocks lower in broad-based fashion. Stocks have started to trim losses, though. Their rebound comes after the S&P 500 managed to fight off selling efforts that attempted to take it more than a couple of points below the psychologically-significant 1200 line.

Financials, although still a source of uncertainty due to their seemingly imperceptible exposure to the precarious conditions of Europe, have helped lead the rebound. As a whole, financials were off by more than 1%, but the sector has managed to make its way back to the unchanged mark. Although support for financials has increased, shares of consumer lending play American Express (AXP 45.12, -1.01) remain under pressure despite a better-than-expected bottom line in its latest quarterly report.

Tech stocks continue to trade with weakness, however. The sector is still down 1.0% and weighing on the Nasdaq, which is trailing its counterparts substantially for the second straight session. Although the Nasdaq is balanced toward tech issues, Internet retailer eBay (EBAY 31.29, -1.89) has been a heavy drag following the firm's in-line earnings report.

Participants were dealt a significant dose of data this morning. The latest weekly initial jobless claims count 403,000, just as had been expected among economists polled by Briefing.com. The tally was little changed from the prior week. The latest Philadelphia Fed Survey improved unexpectedly to 8.7 from -17.5 in the prior month. Existing home sales set an annualized rate in September of 4.91 million units, which is essentially on par with the pace that had been generally anticipated, but it did mark a slowdown from prior month. Lastly, Leading Indicators showed a 0.2% increase, which was only slightly less than what had been expected. DJ30 -46.69 NASDAQ -27.26 SP500 -4.55 NASDAQ Adv/Vol/Dec 575/1.04 bln/1800 NYSE Adv/Vol/Dec 800/390 mln/2100

12:30 pm : The S&P 500 recently paused near the 1200 line, but then slipped below it by a couple of points. It has since crossed back above the psychologically significant line.

Financials are benefiting from an increase in buying interest. The sector had been down more than 1% at its session low, but it has since trimmed that loss to just 0.4%. What's more, the move comes as the broad market trades only a few points above its session low. Regional banks like Fifth Third (FITB 11.35, +0.69), which posted an upside earnings surprise this morning, are helping to lead the move. In contrast, American Express (AXP 45.08, -1.05), which also reported better-than-expected earnings for its most recent quarter, has been a drag. DJ30 -87.41 NASDAQ -37.56 SP500 -9.50 NASDAQ Adv/Vol/Dec 500/940 mln/1845 NYSE Adv/Vol/Dec 720/350 mln/2180

12:00 pm : Support near the 1200 line for the S&P 500 has helped stocks stop their slide. Still, weakness remains widespread as stocks head into the middle of the day.DJ30 -72.99 NASDAQ -33.59 SP500 -8.73 NASDAQ Adv/Vol/Dec 600/820 mln/600 NYSE Adv/Vol/Dec 900/305 mln/1965

11:30 am : Stocks extended their recent downturn, taking the major equity averages to new session lows only minutes ago. The Nasdaq remains in worse shape than either of its counterparts, mostly because of its balance toward tech stocks.

Tech stocks are currently down 1.1%, collectively. The sector's slide today makes for an extension of its downturn during the prior session, when it suffered a loss on the order of 2%. Large-cap tech names like Microsoft (MSFT 26.55, -0.58) and Intel (INTC 23.55, -0.69) have been under considerable pressure. Shares of INTC actually traded with strength yesterday.

To be fair, though, tech hasn't been the only source of weakness for the Nasdaq. After all, shares of Internet retailer eBay (EBAY 31.23, -1.95) are down almost 6% after the company reported last evening its latest quarterly results, which featured earnings that matched the consensus forecast. DJ30 -44.35 NASDAQ -26.52 SP500 -5.33 NASDAQ Adv/Vol/Dec 565/700 mln/1700 NYSE Adv/Vol/Dec 825/260 mln/1990

11:00 am : After a choppy 90 minutes of trade, stocks have started to slip. Although the broad market's loss isn't much, it is sitting at a session low.

Financials have become a heavy drag on trade. The sector had tracked the rest of the market for most of the morning, but has since dropped to a 0.9% loss. No other sector is in as bad shape.

Meanwhile, consumer staples stocks and utilities stocks are holding on to modest gains of 0.4% and 0.2%, respectively. They are the only two sectors still in positive territory. DJ30 -35.61 NASDAQ -19.76 SP500 -3.70 NASDAQ Adv/Vol/Dec 855/520 mln/1330 NYSE Adv/Vol/Dec 1380/190 mln/1350

10:35 am : The dollar index was chopping around near the unchanged line for over an hour now, but has gained steam about 20 minutes ago. Commodities, as measured by the CRB Commodity Index, has been in the red all session.

Natural gas rallied in recent activity, ahead of today's inventory data. Following the data, natural gas showed a build of 103 bcf versus consensus which called for a build of 110 bcf, causing nat gas to rally to $3.72/MMBtu; now at $3.64/MMBtu, up 1.6%.

Crude oil has spent most of the morning in the red. After again moving back in to positive territory, crude pulled back below the $86 level again and is now down 0.4% at $85.90/barrel.

Precious metals have been in negative territory all session. Gold has been trading in a tight range all morning, between approx. $1616-1631/oz. Silver gained some steam after floor trading opened and briefly broke into the black a short while ago. Currently, gold is 1.4% lower at $1623.50/oz and silver is down 0.5% at $31.11/oz.DJ30 +16.27 NASDAQ -9.40 SP500 +1.80 NASDAQ Adv/Vol/Dec 803/483 mln/1387 NYSE Adv/Vol/Dec 1325/184 mln/1402

10:05 am : Stocks have pulled back after bouncing in response to the latest Philadelphia Fed Survey, which improved to 8.7 for October from the -17.5 that was posted in September. The October reading had been expected to remain negative at -8.8.

Also recently run across newswires, existing home sales set an annualized rate in September of 4.91 million units, which is only slightly less than the pace of 4.92 million units that had been generally anticipated among economists surveyed by Briefing.com. The pace recorded for September marked a slowdown from the rate of 5.06 million units posted for the prior month.

Leading Indicators were also just released. They showed a 0.2% increase, which narrowly misses the 0.3% increase that had been broadly expected. DJ30 +26.57 NASDAQ -9.09 SP500 +2.30

09:45 am : The Dow and S&P 500 are currently stuck near the neutral line, but the Nasdaq has retreated into the red. Such was also the case in the early action of yesterday's trade.

For the second straight session the Nasdaq is being undermined by weakness among tech issues. Collectively, tech stocks are down 0.6%, which makes them this morning's worst performing sector. Coming off of its worst single-session percentage loss in three years, heavyweight Apple (AAPL 396.30, -2.32) continues to hamper the tech space, but Yahoo! (YHOO 16.32, +0.38) remains a source of support as it builds on its prior session bounce. DJ30 +2.05 NASDAQ -11.93 SP500 -0.44 NASDAQ Adv/Vol/Dec NA/NA/NA NYSE Adv/Vol/Dec NA/NA/NA

09:15 am : S&P futures vs fair value: +1.40. Nasdaq futures vs fair value: +2.70. Stock futures have faltered in recent trade, suggesting a mixed start to today's trade. Their pullback comes amid headlines indicating that the EU Summit scheduled for this coming weekend isn't necessarily guaranteed to go on without delay. That news now accompanies reports that eurozone officials are having difficulty holding discussions on the treatment and implementation of the EFSF.

09:05 am : S&P futures vs fair value: +3.40. Nasdaq futures vs fair value: +6.70. Selling pressure among commodities has the CRB Commodity Index down to a 0.5% loss this morning. Among its primary components, oil prices have slipped to a 0.4% loss at $86.05 per barrel after they had opened pit trade on a modestly positive note. Meanwhile, natural gas prices are up 0.3% to $3.60 per MMBtu ahead of its weekly inventory report at 10:30 AM ET. Among precious metals, gold prices are down 1.6% to $1621 per ounce, while silver prices are down 1.8% to $30.72 per ounce.

08:35 am : S&P futures vs fair value: +7.50. Nasdaq futures vs fair value: +12.70. Stock futures continue to trade with moderate strength in the wake of the latest weekly jobless claims numbers. Initial jobless claims for the week ended October 15 totaled 403,000, which is spot on with what had been expected, on average, among economists polled by Briefing.com. The latest tally is also little changed from the upwardly revised count of 409,000 claims recorded for the prior week. As for continuing claims, they climbed to roughly 3.72 million from about 3.69 million. Still on the calendar, monthly existing home sales, the Philadelphia Fed Survey for September, and the latest Leading Indicators report are all due at 10:00 AM ET.

08:05 am : S&P futures vs fair value: +8.10. Nasdaq futures vs fair value: +15.00. Stock futures currently sport a narrow lead over fair value, even though Asia's major averages fell overnight and Europe's major bourses are down today amid reports that bailout discussions among eurozone officials have become bogged down. Also in the backdrop, Germany cut its economic growth forecast for 2012.

Earnings reports this morning have generally exceeded expectations. Results released last evening were more mixed; they included a beat by American Express (AXP), in-line results from eBay (EBAY), and a miss by Wynn Resorts (WYNN).

Today's economic calendar features a number of notable releases, including the latest weekly initial jobless claims tally, which is due at 8:30 AM ET. Monthly existing home sales, the Philadelphia Fed Survey for September, and the latest Leading Indicators report are expected at 10:00 AM ET.

06:52 am : [BRIEFING.COM] S&P futures vs fair value: +8.70. Nasdaq futures vs fair value: +17.30.

06:52 am : Nikkei...8682.15...-90.40...-1.00%. Hang Seng...17983.10...-326.10...-1.80%.

06:52 am : FTSE...5421.44...-29.10...-0.50%. DAX...5881.74...-31.80...-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)
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 2 guests


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