TheStrategyLab.com Free 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
It is currently Thu Dec 14, 2017 9:48 pm

All times are UTC - 5 hours




Post new topic Reply to topic Bookmark and Share  [ 1 post ] 
Author Message
 Post subject: October 28th Friday 2011 Emini TF ($TF_F) points +22.50
PostPosted: Fri Oct 28, 2011 10:43 pm 
Offline
Site Admin

Joined: Sat Jan 10, 2009 1:06 pm
Posts: 3020
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:
102811-wrbtrader-PnL-Blotter-Profit-2250.png
102811-wrbtrader-PnL-Blotter-Profit-2250.png [ 74.54 KiB | Viewed 82 times ]

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

Trade Performance for Today: +22.50 points or $2250.00 dollars in the Russell 2000 Emini TF ($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=1038.

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. Stocks Fall as Europe Offsets Consumer Confidence

Oct. 28 (Bloomberg) -- Bloomberg's Deborah Kostroun reports on the performance of the U.S. equity market today. Most U.S. stocks fell as data on consumer confidence and spending failed to boost equities a day after European leaders expanded the region's bailout plan.

Stocks Flatline After Huge Rally

Attachment:
102811-Key-Price-Action-Markets.png
102811-Key-Price-Action-Markets.png [ 523.88 KiB | Viewed 88 times ]

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

NEW YORK (CNNMoney) -- After pushing stocks to nearly 3-month highs and getting them firmly on track for the best monthly performance in decades, investors stepped to the sidelines on Friday.

U.S. stocks ended little changed after Thursday's rally, as questions and doubts about Europe's debt-crisis deal started to emerge.

The Dow Jones industrial average (INDU) rose 23 points, or 0.2%. The S&P 500 (SPX) added a half a point, or less than 0.1%, and the Nasdaq composite (COMP) lost 1 point, or 0.1%.

Financials stocks were mostly lower, with shares of Goldman Sachs (GS, Fortune 500), Citigroup (C, Fortune 500), JPMorgan Chase (JPM, Fortune 500) and Morgan Stanley (MS, Fortune 500) all in the red. Bank of America's (BAC, Fortune 500) stock managed to advance.

Stocks surged about 3% on Thursday, following news that European leaders reached a deal that may be a step toward resolving the region's debt crisis.

But details about the plan remain sketchy and doubts are creeping in.

"Europe is going to be working on ironing out the details of the plan for months, and we'll probably see a lot of whipsaw action in the markets," said Thomas Nyheim, portfolio manager at Christiana Bank & Trust Company.

* Euro rescue plan 'sugar rush' wears off

Despite Friday's humdrum trading, stocks remain on pace for a stellar month. The Dow is up 12% in October, while the S&P 500 and Nasdaq have surged more than 13%.

The gains are the best since January 1987 for the Dow, since October 1974 for the S&P 500, and since October 2002 for the Nasdaq.

For the week, all three indexes ended up more than 3.5%, as investors pumped more money into stock mutual funds than bond funds for the first time since mid-September, according to Bank of America Merrill Lynch research.

All three indexes are also in positive territory for the year. The Dow is up more than 5%, the S&P 500 is 2% higher and the Nasdaq has climbed 3%.

* Video - Cork popped on EU deal... hangover later

Companies: Chevron (CVX, Fortune 500) shares were slightly higher after the company posted quarterly earnings that beat expectations.

Shares of Whirlpool (WHR, Fortune 500) tumbled after the company said it plans to cut about 5,000 jobs in North America and Europe. Whirlpool also reported earnings that fell short of forecasts.

* What to do if you missed the rally - StockTwits

Merck (MRK, Fortune 500) shares rose after the pharmaceutical giant announced it earned 94 cents per share in the third quarter, up from 85 cents a year ago, and better than analysts had expected.

Goodyear Tire (GT, Fortune 500) shares climbed after the company announced third-quarter earnings per share of 60 cents. That's up from a loss of 8 cents per share in the year-ago quarter and beats analysts' estimates for 27 cents per share.

Late Thursday, Coinstar (CSTR) announced third-quarter earnings that blew away analysts' forecasts, but its stock plunged because the company also said it will be raising its Redbox daily DVD rental fee from $1.00 to $1.20.

Advanced Micro Devices (AMD, Fortune 500) shares rose after the chipmaker announced late Thursday that it swung to a profit of 13 cents per share in the third quarter, after losing 17 cents per share in the year-ago quarter.

Shares of Hewlett-Packard (HPQ, Fortune 500) gained after the company announced late Thursday that it will continue selling personal computers after all, reversing an earlier decision to exit one of its core business lines.

Economy: Personal spending picked up in September, but that came at the expense of Americans' savings. The savings rate last month was the lowest its been since December 2007, according to a monthly government report.

The final reading of the University of Michigan Consumer Sentiment Index for October rose to 60.9, which was slightly better than expectations.

Third quarter data on employment costs was also released Friday, rising less than expected.

World markets: European stocks closed mixed. Britain's FTSE 100 (UKX) fell 0.2%, the DAX (DAX) in Germany rose 0.1% and France's CAC 40 (CAC40) finished down 0.6%.

Asian markets ended higher. The Shanghai Composite (SHCOMP) gained 1.6%, the Hang Seng (HSI) in Hong Kong climbed 1.7% and Japan's Nikkei (N225) rose 1.4%.

* Video - Europe's long windy road of debt woes

Currencies and commodities: The dollar fell against the Japanese yen and British pound, but gained strength against the euro.

Oil for December delivery slipped 64 cents to settle at $93.32 a barrel.

Gold futures for December delivery fell 50 cents to settle at $1,747.20 an ounce.

Bonds: The price on the benchmark 10-year U.S. Treasury rose, pushing the yield down to 2.30% from 2.40% late Thursday.

Image

Market Update

4:35 pm : In contrast to the action of the first four sessions of the week, stocks spent Friday trading close to the neutral line for a flat finish.

Trade on Friday lacked excitement. Even with the weekend immediately around the corner, many market participants were compelled to take early rest. Their fatigue came after stocks staged four consecutive swings of 1% or more.

To be fair, though, the final session of the week didn't feature much news flow, or at least enough of the sort that would bring participants back in to the fold. Earnings were generally better than expected, as has been the case all week, but overall broad market participants appeared uninspired by them. That said, Merck (MRK 35.11, +0.80) made a strong move on the back of a better-than-expected report. Fellow blue chip Chevron (CVX 109.64, +0.67) had a quiet session, despite an upside earnings surprise of its own. Whirlpool (WHR 51.80, -8.67) tumbled in response to an earnings miss.

Economic data featured a 0.1% increase in personal income during September, slightly less than the Briefing.com consensus forecast of 0.3% growth. Personal spending increased by 0.6%, just as had been expected. These numbers were already incorporated into the advance reading on third quarter GDP.

On Thursday, advance GDP data showed that the economy expanded at a 2.5% clip during the third quarter. That exceeded the 2.3% growth rate that had been broadly expected to follow the 1.3% increase in output posted in the prior quarter.

Another weekly initial jobless claims tally just above 400,000 was given little discussion, especially since most traders focused their attention on the European Union's (EU) plan aimed at improving the continent's precarious financial conditions. Although specifics weren't released, participants were pleased that the plan will increase the eurozone bailout fund to about $1.4 trillion, recapitalize banks, and cut Greece's debt obligations by 50%. The stock market spiked more than 3% on Thursday for its best single-session performance in more than two weeks, but financials fared even better by boasting a 6% gain as bank stocks benefited quelled concern about their presence in Europe.

Many investors had thought that they would have to wait a few more weeks for the plan, given that a meeting among members of the EU on Wednesday finished without any word related to the matter. Still, the belief that European leaders were committed to finding a solution helped bolster buying interest, such that the stock market gained more than 1%. That contrasted trade on Tuesday, when angst ahead of the meeting left the broad market to tumble 2% for its only loss of the week.

Trade in the first session of the week was broadly positive, resulting in a gain of more than 1% for the stock market. The advance took the S&P 500 back above the 1250 line for the first time in more than two months. Tech stocks, which collectively make up the largest sector by market weight, were some of the top performers, partly fueled by news that Oracle (ORCL 33.69, +0.03) acquired RightNow Tech (RNOW 43.10, -0.16) for a hefty premium over its prior session closing price.

Market participants return on Monday for one final session in October. The S&P 500 heads into that session riding four straight weekly gains and on pace for monthly gain of more than 13%, which would make for one of the stock market's best monthly performances on record. DJ30 +22.56 NASDAQ -1.48 NQ100 +0.1% R2K -0.6% SP400 -0.3% SP500 +0.49 NASDAQ Adv/Vol/Dec 1125/1.84 bln/1432 NYSE Adv/Vol/Dec 1484/1.01 bln/1512

3:30 pm : It was a choppy and uneventful final session for the precious metals. Gold futures ended just below the flat line at $1747.20 per ounce while silver posted gains of 0.3% to finish at $35.29 per ounce. Both metals traded sideways right around the unchanged mark for the majority of the day. On the week, gold rallied for approx $105 or 6.3%, while silver futures surged $3.65 or 11.5%.

The same could be said for trade in crude oil futures, which posted a modest decline of 0.7% to close at $93.32 per barrel. On the week crude oil rallied for % and managed to trade to its best levels in close to three months at $94.65. Natural gas rallied for 4.1% to close at $3.92. Futures were aided by colder weather, coupled with possibility of snow in some places, blanketing major consuming portions of the country.DJ30 +5.00 NASDAQ -5.00 SP500 -0.08 NASDAQ Adv/Vol/Dec 1123/1.4 bln/1409 NYSE Adv/Vol/Dec 1450/661.9 mln/1600

3:00 pm : Only an hour remains in today's trade. Stocks are currently on track for a weekly gain of almost 4%. More impressive is that the stock market is up about 13% this month. That makes for one of the best monthly performances on record.

Given the market's climb in recent weeks, a key question among traders is whether or not stocks can sustain their gains. Next week's major events and conferences could play a part in that action. Below is an agenda beyond earnings for next week.

On Monday, Gabelli and Company holds its 35th Annual Automotive Aftermarket Symposium. Bank of America Merrill Lynch New China Conference 2011 will also take place.

Tuesday brings the Needham and Company Communications Conference. Stifel Nicolaus will hold its Bank Conference. Goldman Sachs Global Industrials Conference is slated for the same day.

Wednesday's main event is the FOMC Monetary Policy Update. It will be followed by a press conference with Ben Bernanke.

On Thursday, the ECB will issue its rate decision. Also, the G-20 Summit will meet in Cannes.

Friday brings the Bank of America Merrill Lynch Global Macro Conference DJ30 +1.82 NASDAQ -6.94 SP500 -2.38 NASDAQ Adv/Vol/Dec 1075/1.25 bln/1450 NYSE Adv/Vol/Dec 1355/580 mln/1620

2:30 pm : The major equity averages continue to trade in mixed fashion. Financials, down 0.7%, have been a drag on trade after the sector failed to sustain a move to the neutral line from its morning low. Meanwhile, health care and telecom, both defensive in nature and trading with gans of 0.4%, are offering support, but neither has much influence in the overall direction of trade.DJ30 -9.68 NASDAQ -10.69 SP500 -3.60 NASDAQ Adv/Vol/Dec 1110/1.15 bln/1390 NYSE Adv/Vol/Dec 1365/530 mln/1580

2:00 pm : The major equity averages remain mixed as they enter mid-afternoon trade. Only a couple of hours remain in this trading week. As things currently stand, the stock market is up almost 4% for the week, and on pace for its fourth straight weekly advance. That streak of gains has the stock market up more than 13% this month.DJ30 +7.46 NASDAQ -5.72 SP500 -1.20 NASDAQ Adv/Vol/Dec 1125/1.08 bln/1370 NYSE Adv/Vol/Dec 1355/495 mln/1600

1:30 pm : Although there hasn't been any legitimate form of positive leadership, participants aren't exactly trying to take profits and push stocks lower. That has kept the major equity averages trading in mixed fashion near the neutral line.DJ30 +25.13 NASDAQ -4.42 SP500 +0.08 NASDAQ Adv/Vol/Dec 1100/970 mln/1360 NYSE Adv/Vol/Dec 1310/450 mln/1610

1:00 pm : Trade has been choppy and listless all session. The lackluster action comes as many market participants take a break after the prior session's surge. The

broad market rallied more than 3% to a near three-month closing high yesterday. However, momentum from the move has slowed as participants rest on a weekly gain of almost 4%. Given that stocks have already booked three consecutive weekly gains, the S&P 500 is on pace for a monthly gain on the order of 13%, which would make for one of its best one-month showings on record.

Earnings continue to prove strong. Dow components Chevron (CVX 109.62, +0.65) and Merck (MRK 35.07, +0.76) were among the more notable names that reported this morning. Both firms bested expectations for the bottom line. However, Whirlpool (WHR 52.87, -7.60) shares have taken a dive in response to an earnings miss.

Data hasn't had any real impact on today's trade. Participants shurgged off news of an incremental increase in personal income and an in-line increase in spending. The final September reading on consumer sentiment from the University of Michigan was revised sharply higher than had been anticipated.

Much like the equity market, the dollar hasn't done much at all today. It dropped precipitously in the prior session as traders pushed into the euro, responding to plans by the EU to shore up Europe's financial conditions.

Despite the mixed action among stocks today, Treasuries have traded sharply higher. The action has the yield on the benchmark 10-year Note back at 2.30% after it had spiked to a two-month high near 2.40% in the prior session. DJ30 -1.81 NASDAQ -9.57 SP500 -2.79 NASDAQ Adv/Vol/Dec 1145/895 mln/1310 NYSE Adv/Vol/Dec 1280/415 mln/1645

12:30 pm : Consumer discretionary stocks are under relatively stiff pressure, which has taken the sector to a 1.1% loss. That makes them the worst performers of the day.

Among consumer discretionary plays, Whirlpool (WHR 53.31, -7.16) has been a heavy drag following its latest quarterly report, which featured earnings that failed to come short of the consensus forecast. However, Newell Rubbermaid (NWL 15.31, +1.49) has provided support to the sector, thanks to an upside earnings surprise for the latest quarter. DJ30 -18.84 NASDAQ -13.34 SP500 -5.25 NASDAQ Adv/Vol/Dec 1110/800 mln/1320 NYSE Adv/Vol/Dec 1315/375 mln/1575

12:00 pm : Stocks have started to slip. The downturn hasn't come in conjunction with any kind of negative news item or catalyst, but it does come after stocks struggled to extend a recent upturn beyond the neutral line.

Meanwhile, the dollar has had a quiet session today -- it is essentially unchanged against a basket of major foreign currencies. Just yesterday the greenback was beaten down in aggressive fashion as currency traders responded to plans by the European Union to shore up conditions in the continent. DJ30 -7.53 NASDAQ -11.14 SP500 -4.55 NASDAQ Adv/Vol/Dec 1190/725 mln/1205 NYSE Adv/Vol/Dec 1415/340 mln/1470

11:30 am : The broad market recently worked its way up to the neutral line, but it has been unable to extend the move. In turn, it remains mired near the neutral line.

Financials have successfully recovered from some early selling pressure that had the sector down in excess of 1%. As a group, financials are now only fractionally lower for the session. But like the broad market, the sector has struggled to turn the move into something more.

Meanwhile, materials stocks are outperforming. The sector is up 1.0% amid strength in steel stocks. DJ30 +21.77 NASDAQ -0.17 SP500 +0.55 NASDAQ Adv/Vol/Dec 1160/585 mln/1190 NYSE Adv/Vol/Dec 1460/280 mln/1370

11:05 am : The major equity averages are mixed amid choppy action, which has also been listless. While trade may not be that exciting, it is allowing the prior session's gains to consolidate.

Although action among stocks is relatively quiet, Treasuries are up sharply after their slump in the prior session. Buying interest there has the benchmark 10-year Note's yield back near 2.30%. DJ30 +8.22 NASDAQ -2.40 SP500 -0.61 NASDAQ Adv/Vol/Dec 1050/460 mln/1250 NYSE Adv/Vol/Dec 1300/225 mln/1500

10:35 am : Commodities are mostly in the red this morning, but the dollar index has moved back to the unchanged line from its session high.

Crude oil futures are been trading lower all morning and fell as low as $92.01/barrel (continuous contract) three hours ago. Due to the recent pullback in the dollar index, crude was able to regain about $1/barrel as it pushed back above the $93 level. In current activity, the energy component is down 0.8% at $93.20/barrel.

Natural gas, on the other hand, moved back above the $4.00/MMBtu marker this morning and is currently 3.1% higher at $4.02/MMBtu.

Gold has been in negative territory all morning, while silver has recently moved back into the red and back below the $35 level. Gold has trended higher over the last couple of hours and is currently down 0.2% at $11743.30/oz. Silver is currently 0.5% lower at $34.92/oz.DJ30 -15.40 NASDAQ -6.17 SP500 -3.06 NASDAQ Adv/Vol/Dec 984/401 mln/1276 NYSE Adv/Vol/Dec 1175/203 mln/1599

10:00 am : Stocks are trading in choppy fashion this morning. The lack of direction has kept them in negative territory with modest losses.

There hasn't been any real reaction to the final September reading on consumer sentiment from the University of Michigan. Even though the reading was expected to improve to only 58.0 from the 57.5 posted in the preliminary report, it actually climbed to 60.9. DJ30 -29.82 NASDAQ -11.23 SP500 -6.14 NASDAQ Adv/Vol/Dec 880/97 mln/1160 NYSE Adv/Vol/Dec 910/70 mln/1685

09:45 am : The major market averages are only modestly lower this morning. There isn't any catalyst or headline that has accounted for the relative weakness. Rather, the move lower is mostly owed to a break in buying after stocks ripped higher to close out the prior session at their best level in almost three months.

Financials are trading with outsized losses, though. The sector is currently down 1.1%. Of course, that comes after the sector surged 6% yesterday. DJ30 -3.30 NASDAQ -7.58 SP500 -3.12 NASDAQ Adv/Vol/Dec NA/NA/NA NYSE Adv/Vol/Dec NA/NA/NA

09:15 am : S&P futures vs fair value: -6.90. Nasdaq futures vs fair value: -13.80. Stocks enter Friday with a week-to-date gain of almost 4%. Barring any aggressive sell-off, stocks will score their fourth straight weekly gain. The winning streak has the S&P 500 headed for a 13% monthly gain, which would make for one of its best monthly performances on record. However, after the prior session's 3% bounce, buyers are taking a bit of a break this morning. In turn, stock futures point to a lower start to the final session of the week.

09:05 am : S&P futures vs fair value: -6.80. Nasdaq futures vs fair value: -13.00. Several key commodities are getting clipped this morning. Among them, oil prices are down 1.0% to $93 per barrel. However, natural gas prices have been bid 1.3% higher to $3.95 per MMbtu. Among precious metals, gold prices have been pared to $1738 per ounce for a 0.6% loss. Meanwhile, silver prices have slid 0.3% to $35 per ounce. Altogether, action among commodities has the CRB Commodity Index down 0.5%.

08:35 am : S&P futures vs fair value: -4.90. Nasdaq futures vs fair value: -11.50. Stock futures continue to trail fair value by a modest margin, unfazed by the latest dose of data. During September, personal income increased by 0.1% and personal spending increased by 0.6%. Economists polled by Briefing.com had, on average, called for a 0.3% increase in income and a 0.6% increase in spending. As for core personal consumption expenditures, there was no change month over month, but that's not a complete surprise since the consensus had called for only an incremental increase of 0.1%. Separately, the third quarter Employment Cost Index increased by 0.3%, which is only half of the increase that had been expected among economists polled by Briefing.com.

08:05 am : S&P futures vs fair value: -4.80. Nasdaq futures vs fair value: -12.00. Stock futures point to a modestly lower start to the final session of the week. Buyers have tired after driving stocks sharply yesterday for their best close in almost three months. Asia's averages all advanced in the wake of Wall Street's bounce, but buying has also cooled in Europe. Earnings results generally remain strong. Among the more notable names, Dow component Merck (MRK) posted an upside earnings surprise this morning, but fellow blue chip Chevron (CVX) has yet to report. Personal income and spending numbers for September will be posted at the bottom of the hour, along with the third quarter Employment Cost Index. A revised monthly reading on consumer sentiment from the University of Michigan will be posted at 9:55 AM ET.

07:08 am : [BRIEFING.COM] S&P futures vs fair value: -4.10. Nasdaq futures vs fair value: -10.80.

07:08 am : Nikkei...9050.47...+123.90...+1.40%. Hang Seng...20019.24...+330.50...+1.70%.

07:08 am : FTSE...5704.54...-9.30...-0.20%. DAX...6340.54...+2.70...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
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 Bookmark and Share  [ 1 post ] 

All times are UTC - 5 hours


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