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 Mon Mar 18, 2024 11:33 pm

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: November 15th Tuesday 2011 Emini TF ($TF_F) points +36.00
PostPosted: Wed Nov 16, 2011 12:27 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:
111511-wrbtrader-PnL-Blotter-Profit-3600.png
111511-wrbtrader-PnL-Blotter-Profit-3600.png [ 75.81 KiB | Viewed 292 times ]

click on the above image to view today's performance verification

Trade Performance for Today: +36.00 points or $3600 dollars in the Russell 2000 Emini TF ($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=96&t=1056.

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=119&t=718.

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=145&t=1269

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

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.

Attachment:
111511-Key-Price-Action-Markets.png
111511-Key-Price-Action-Markets.png [ 534.15 KiB | Viewed 331 times ]


Image

Market Update

4:30 pm : Stocks slipped after a choppy start to the session, but buyers eventually stepped back in to provide a broad lift. Their efforts picked up right around the time that trade in Europe wrapped up.

Sentiment this morning was initially imbued by renewed worries about financial conditions in Europe, where the region's major bourses traded with weakness once again. Once trade there was closed, the mood among market participants quickly improved. At about the same time the euro started to move off of its intraday low, although it was still down about 0.7% against the greenback at session's end.

The Nasdaq was able to outperform its counterparts with help from tech stocks. As a group, tech issues advanced 1.3%. Intel (INTC 25.34, +0.71) was a steady leader, but Dell (DELL 15.63, +0.31) also advanced nicely ahead of its quarterly announcement.

Wal-Mart (WMT 57.46, -1.43) weighed on the Dow for virtually the entire session. The stock's weakness came after the retail behemoth failed to produce the earnings expected by Wall Street.

An upside earnings surprise helped Home Depot (HD 38.07, -0.18) shares bounce at the open, but the stock failed to hold that move and never really recovered, not even amid the broad market's afternoon bounce.

Word of an oil leak at a rig run by Chevron (CVX 103.27, -2.90) and Transocean (RIG 47.86, -1.85) dragged down the pair's shares, as well as those of other oil and gas services players. Collectively, energy stocks logged a 0.2% loss, making them the only major sector that failed to score a gain.

Share volume was anemic for the second straight session. Yesterday it barely broke 700 million on the NYSE and today it failed to crack 800 million. Over the past 50 days share volume on the Big Board has averaged about 1 billion shares per session.

A substantial dose of data didn't even attract participants to the action. Overall, the reports were generally proved pleasing.

Retail sales climbed by 0.5% during October. A 0.4% increase had been generally expected. Excluding autos, sales actually increased by 0.6%, which is well above the 0.2% pickup that had been widely anticipated.

Producer prices for October fell by 0.3%, exceeding the 0.2% decline that had been commonly forecasted. Core prices were flat for the month, not too different than the 0.1% increase expected among economists surveyed by Briefing.com.

The Empire State Manufacturing Survey for November improved to 0.6 from -8.5 in the prior month. Many thought it would remain in negative territory by an incremental margin.

Business inventories for September were flat, contrasting with the Briefing.com consensus call for a 0.2% increase.

Advancing Sectors: Tech +1.3%, Industrials +0.6%, Telecom +0.5%, Financials +0.4%, Consumer Discretionary +0.4%, Consumer Staples +0.4%, Utilities +0.2%, Tech +0.2%, Materials +0.1%
Declining Sectors: Energy -0.2%DJ30 +17.18 NASDAQ +28.98 NQ100 +1.1% R2K +1.4% SP400 +1.0% SP500 +6.03 NASDAQ Adv/Vol/Dec 1712/1.68 bln/825 NYSE Adv/Vol/Dec 1903/781 mln/1107

3:30 pm : Crude oil rallied for 1.3% to close at $99.37 per barrel, its highest settling price in 16 weeks. Futures, aided by strength in equities and better-than-expected econ data, rallied through the afternoon to close just shy of session highs at $99.84. The sell-off in natural gas continued today, as continued above-avg temps across the country weighed on demand. Futures traded to their lowest levels in a year, at $3.39, and finished just above those lows at $3.40 per MMBtu, down 1.7% on the session.

It was a quiet session for gold futures, which ended higher by 0.1% at $1782.20 per ounce. Futures recouped morning losses heading into afternoon trade and spent the remainder of the session chopping around the unchanged mark. Silver finished up 1.2% at $34.46 per ounce. Silver gave up its gains in mid-morning trade after falling from session highs back to the unchanged mark. It was, however, able to recoup some of its earlier gains in afternoon trade. DJ30 +84.62 NASDAQ +38.49 SP500 +11.00 NASDAQ Adv/Vol/Dec 1737/1.3 bln/801 NYSE Adv/Vol/Dec 2012/529.2 mln/1028

3:00 pm : Stocks are still sitting near session highs with broad-based gains. Tech continues to outperform by climbing 1.5%, which has helped give the Nasdaq a gain that is double that of the Dow.

Improved sentiment has helped the euro trim its loss. It is now down 0.6% against the greenback. Still, the combination of two straight slides has the currency down 1.5% this week. DJ30 +53.32 NASDAQ +32.47 SP500 +9.32 NASDAQ Adv/Vol/Dec 1635/1.18 bln/860 NYSE Adv/Vol/Dec 1820/450 mln/1165

2:30 pm : The broad market continues to trade with strength, although it is off of its session high. However, shares of Chevron (CVX 103.52, -2.65) and Transocean (RIG 47.51, -2.20) are diving in response to reports suggesting that the pair are both tied to a recent oil spill. The news has undercut the energy sector, which is now down 0.2% to trade as the market's worst performing sector.DJ30 +39.36 NASDAQ +29.26 SP500 +7.61 NASDAQ Adv/Vol/Dec 1630/1.08 bln/860 NYSE Adv/Vol/Dec 1860/410 mln/1115

2:00 pm : Tech stocks continue to tick higher, helping the Nasdaq maintain a nice lead over each of its counterparts. The Nasdaq is currently led by large-cap tech and tech-related names like Intel (INTC 25.34, +0.71) and Apple (AAPL 387.41, +8.15). Strength in shares of AAPL comes after the stock had been a bit of a relative laggard in recent sessions.DJ30 +62.97 NASDAQ +27.83 SP500 +8.39 NASDAQ Adv/Vol/Dec 1635/990 mln/835 NYSE Adv/Vol/Dec 1905/380 mln/1060

1:30 pm : Holding strong to gains achieved during the mraket's recent rebound, stocks are just off of session highs. In contrast to action this morning, market breadth has become decidedly positive with nine of the 10 major sectors sporting gains -- only utilities, down 0.1%, have failed to return to positive territory.DJ30 +52.53 NASDAQ +21.76 SP500 +6.53 NASDAQ Adv/Vol/Dec 1500/875 mln/910 NYSE Adv/Vol/Dec 1765/335 mln/1170

1:00 pm : Lackluster action this morning gave way to some moderate selling pressure, but stocks have since made their way to solid gains.

Per usual, most participants paid close attention to action in Europe this morning. Rising yields on Italy's debt and pressure against the region's major bourses undermined their sentiment.

Premarket pressure eased in the minutes that followed the October Retail Sales report, which proved better than expected. Overall sales increased by 0.5%, but sales less autos actually increased by 0.6%. Meanwhile, producer prices for October proved cooler than thought, given the 0.3% decline in PPI and flat reading on core PPI. Separately, the Empire State Manufacturing Survey surprised some by turning incrementally positive.

Mixed interest after the open kept stocks near the neutral line, but eventually the market's lack of leadership left stocks to drift into the red.

Buyers began to step back in right around the time that trade in Europe closed and the euro began to work its way up from its session low. The move came rather quickly. In fact, the Dow climbed more than 100 points in less than an hour.

Dow component Wal-Mart (WMT 57.39, -1.50) has been unable to join in the market's recent rally effort. The persistence of selling pressure stems from an earnings miss reported this morning. Home Depot (HD 38.06, -0.19) has also been having a hard time in the wake of its latest quarterly report, which featured an upside earnings surprise.

Tech stocks have been the biggest beneficiaries of the market's early afternoon bounce. The sector had displayed relative strength this morning, but never really generated any upward momentum until recently. The sector now sports a gain of more than 1%. DJ30 +39.28 NASDAQ +19.21 SP500 +5.37 NASDAQ Adv/Vol/Dec 1400/805 mln/1005 NYSE Adv/Vol/Dec 1590/310 mln/1310

12:30 pm : After pulling up from session lows to trade near the neutral line, the S&P 500 paused to take a bit of a breather. It has since continued to climb and is now sporting a modest gain.

Tech stocks are underpinning the market's sense of newfound strength. The sector has been in solid shape for virtually the entire session, but in the past few minutes it has run ahead to trade with a 1.0% gain. DJ30 +7.61 NASDAQ +13.66 SP500 +1.77 NASDAQ Adv/Vol/Dec 960/700 mln/1420 NYSE Adv/Vol/Dec 1005/275 mln/1880

12:00 pm : Stocks are spiking. There isn't any headline driving the move, but the action coincides with a move by the euro up from its session low following the close of trade in Europe.

So far, the Nasdaq is the only major average that has managed to come back in contact with the neutral line. It has been led by the likes of Apple (AAPL 385.85, +6.59), which recently set a session high, and Intel (INTC 25.09, +0.46). Tech stocks have generally been among the best performers of the day; the sector is now up 0.4% for the session. DJ30 -36.63 NASDAQ +0.05 SP500 -2.21 NASDAQ Adv/Vol/Dec 675/605 mln/1685 NYSE Adv/Vol/Dec 700/235 mln/2175

11:30 am : Pressure has picked up a bit in recent trade, driving stocks a down to a session low.

Although weakness has broadened in recent trade, financials have become a primary source of pressure. The sector, now down nearly 1%, is leading losses for the second straight session. Its weakness is largely due to the sensitivity of banks to the frequently shifting sentiment in Europe.

Europe's major bourses are now in the process of settling trade for Tuesday. Many of them suffered substantial losses in response to rekindled concerns about financial conditions in the region and the ability of leaders to effectively and efficiently improve things. Waning confidence played a part in the climb of Italy's debt yields -- yields on the country's 10-year Note went back above 7% today. DJ30 -67.20 NASDAQ -10.39 SP500 -6.12 NASDAQ Adv/Vol/Dec 840/500/1465 NYSE Adv/Vol/Dec 975/190 mln/1830

11:00 am : Trade has been choppy and listless since the open, leaving the major equity averages mired near the neutral line. Generally, the lack of action has made for an unexciting morning.

The dollar is putting on another impressive performance, though. It is currently up 0.6% against a basket of major foreign currencies amid rekindled concerns about fiscal and financial conditions in Europe. The greenback's gain comes on top of a strong advance that it staged in the prior session. DJ30 -36.32 NASDAQ -5.73 SP500 -2.38 NASDAQ Adv/Vol/Dec 865/395 mln/1375 NYSE Adv/Vol/Dec 1035/155 mln/1700

10:35 am : The dollar index is showing modest gains this morning, but this is only affecting select commodities. Overall, commodities are mixed in the energy, metals and agriculture sectors.

Crude oil futures were just under the $98 level ahead of the open of pit trading, but following the open crude gained steam and rallied to today's current session high of $99.35/barrel. The energy component pulled back below the $99 area in recent trade and is currently up 0.9% at $98.95/barrel.

Natural gas is down 1 cent at $3.59/MMBtu.

Gold futures have been on an uptrend over the last few hours and hit a new session high about 45 minutes ago at $1786.60/oz. Silver has been showing the same strength this morning and is currently up 1.6% at $34.58/oz. Gold is 0.3% higher at $1784.20/oz.DJ30 -18.61 NASDAQ -2.71 SP500 -1.36 NASDAQ Adv/Vol/Dec 832/344 mln/1387 NYSE Adv/Vol/Dec 1038/136 mln/1687

10:00 am : The major averages are now narrowly positive after making an upward push at the open. Leadership remains limited.

Stocks haven't really reacted to the latest business inventory data, which were just released. Business inventories for September were unchanged, but the consensus call among economists polled by Briefing.com had been pegged at a 0.2% increase. DJ30 +3.18 NASDAQ +5.33 SP500 +1.32 NASDAQ Adv/Vol/Dec 770/70 mln/1160 NYSE Adv/Vol/Dec 690/42 mln/1835

09:45 am : Stocks have overcome premarket pressure to trade at the flat line. The improved tone comes despite a lack of leadership, though.

Among the more influential sectors, financials led losses in the prior session by sliding 2%, but today the sector is down a relatively tame 0.3%. Energy stocks aren't much better off; the sector is currently down 0.2%. However, their weakness has been offset by tech stocks, which make up the largest sector by market weight. Tech stocks are collectively up 0.3% at the moment. DJ30 -7.41 NASDAQ +0.50 SP500 -0.62

09:15 am : S&P futures vs fair value: -5.60. Nasdaq futures vs fair value: -8.50. Market sentiment has made frequent swings in recent weeks, but most recently it has moved from confidence to diffidence. Underpinning that shift are concerns tied to precarious fiscal and financial conditions in Europe and the ability of leaders there to get a grip on things. Rising yields on the debt of major European countries like Italy have been taken as a sign of caution. In turn, participants have been inclined to pare risk by selling stocks, making it look likely that the broad market will extend their prior session slide.

09:05 am : S&P futures vs fair value: -5.60. Nasdaq futures vs fair value: -8.30. Commodities are mixed this morning, leaving the CRB Commodity Index narrowly higher. Among its more closely tracked components, oil prices are down 0.2% to $97.80 per barrel in the opening minutes of pit trade. Meanwhile, natural gas prices are up 0.1% to $3.61 per MMBtu. As for precious metals, gold prices are down 0.3% to $1774 per ounce while silver sports a 0.9% gain at $34.35 per ounce.

08:35 am : S&P futures vs fair value: -3.90. Nasdaq futures vs fair value: -7.00. Stock futures are off of their morning lows, but they continue to trail fair value. Participants are still digesting a substantial dose of data. Retail sales for October climbed by 0.5%, which is slightly better than the 0.4% increase that had been expected, on average, among economists surveyed by Briefing.com. Excluding autos, sales increased by 0.6%, which is well above the 0.2% increase that had been generally anticipated.

Separately, producer prices for October declined by 0.3%, which is slightly steeper than the 0.2% decline that had been expected among many economists. Core prices were flat for the month, contrasting slightly with the the 0.1% increase had been widely expected.

The Empire State Manufacturing Survey improved to 0.6 from -8.5 to exceed the Briefing.com consensus call for a reading of -0.8.

08:05 am : S&P futures vs fair value: -9.40. Nasdaq futures vs fair value: -15.80. Pressure continues after stocks logged sizable losses in the prior session. The move to pare risk comes as participants monitor sentiment in Europe, where the region's major bourses are down with steep losses for the second straight session. Weakened sentiment also continues to weigh on the euro, which is down 0.6% to $1.355 after it already tumbled about 1% yesterday.

The flow of earnings reports continues to slow, but the latest lot includes an upside earnings surprise from Home Depot (HD 38.75, +0.50) and a miss from Wal-Mart (WMT 57.70, -1.19). TJX Cos. (TJX 60.57, +0.00) has yet to release its latest report.

Making up for the lack of announcements yesterday, there's a healthy dose of data on tap this morning. Monthly retail sales numbers, producer price data, and the latest Empire State Manufacturing Survey are all due at the bottom of the hour. Monthly business inventory figures will be released at 10:00 AM ET, but are less likely to have a meaningful impact on trade.

Note: all prices listed alongside stock tickers reference pre-market quotes

06:47 am : [BRIEFING.COM] S&P futures vs fair value: -12.10. Nasdaq futures vs fair value: -24.00.

06:47 am : Nikkei...8541.93...-61.80...-0.70%. Hang Seng...19348.44...-159.70...-0.80%.

06:47 am : FTSE...5440.71...-78.30...-1.40%. DAX...5843.34...-141.70...-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
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