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 Post subject: November 29th Tuesday 2011 Emini TF ($TF_F) points +19.20
PostPosted: Tue Nov 29, 2011 9:10 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 performance verification

Trade Performance for Today: +19.20 points or $1920 dollars in the Russell 2000 Emini TF ($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=1068.

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

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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 settled in relatively mixed fashion after failing to extend an early advance through initial resistance levels.

The stock market climbed from the flat line to a gain of almost 1% in the early going. The effort came as buyers pushed in after their efforts had waned ahead of the open. The move gained momentum with the release of the Consumer Confidence Index for November, which spiked to 56.0 from 39.8 in the prior month. It had been expected to improve to just 42.5.

Although things had been looking up for stocks, buyers' conviction was tested once the S&P 500 ran into resistance just beneath its 50-day moving average around the 1205 region. The inability to build on gains left stocks to oscillate for the rest of the session.

The Nasdaq never really regained its strength. It was weighed down by weakness among large-cap tech plays, which have dragged down the overall tech sector to a 0.7% loss. Amazon.com (AMZN 188.39, -5.76) and eBay (EBAY 28.75, -0.91) were also sources of weakness.

Tiffany & Co. (TIF 67.22, -6.40) was one of the weaker performers after the company issued a disappointing forecast that overshadowed an upside earnings surprise. The stock set a one-month low in the early going.

AMR Corp (AMR 0.26, -1.36) dove more than 80% after the company announced that it has filed for Chapter 11 reorganization rights. Other air carriers ascended in response to the belief that they will benefit from reduced competition.

Energy plays showed strength in the face of lackluster broad market action. The sector climbed 1.5% with help from crude oil, which closed pit trade 1.6% higher at $99.79 per barrel.

Advancing Sectors: Energy +1.5%, Utilities +1.1%, Consumer Staples +1.0%, Telecom +0.7%, Health Care +0.4%, Consumer Discretionary +0.2%, Materials +0.2%
Declining Sectors: Industrials -0.1%, Financials -0.6%, Tech -0.7%DJ30 +32.62 NASDAQ -11.83 NQ100 -0.6% R2K -0.3% SP400 +0.1% SP500 +2.64 NASDAQ Adv/Vol/Dec 966/1.60 bln/1566 NYSE Adv/Vol/Dec 1469/918 mln/1548

3:40 pm : Energy: Crude oil closed higher by 1.6% at $99.79 per barrel. Heightened tensions between Iran and the West helped futures trade back above the $100 level. Futures notched highs at $100.15 in early afternoon trade but pulled back from those highs heading into the close. Natural gas gained 3.2% to finish at $3.63 per MMBtu. Futures rebounded following yesterday's sizeable selloff.

Metals: It was a relatively uneventful session for the precious metals. Gold futures posted gains of 0.2% at $1713.50 per ounce, after they traded in a small range throughout the session. Silver futures shed 0.8% to finish at $31.91 per ounce. In morning trade, silver attempted to recoup overnight losses. After failing to break above the flat line, they pulled back to overnight levels and traded in a modest range all the way into the close.DJ30 +63.65 NASDAQ -5.97 SP500 +7.58 NASDAQ Adv/Vol/Dec 1077/1.3 bln/1436 NYSE Adv/Vol/Dec 1622/647.2 mln/1438

3:00 pm : The S&P 500 continues to chop along below the 1200 line after participants started grinding it lower following its failure to extend an early advance past resistance in the area near 1205. Although gains aren't great right now, the stock market remains on pace for its second straight advance. The broad market hasn't scored back-to-back gains since it advanced 0.9% on November 10 then 2.0% on November 11.DJ30 +59.60 NASDAQ -7.73 SP500 +4.67 NASDAQ Adv/Vol/Dec 940/1.08 bln/1540 NYSE Adv/Vol/Dec 1425/535 mln/1560

2:30 pm : So far, the S&P 500 has successfully resisted efforts of sellers to take the benchmark Index into negative territory. Its resilience is now helping it rebound from its afternoon low, which was set only minutes ago.

Meanwhile, shares of AMR Corp (AMR 0.34, -1.28) are down almost 80% after the company announced this morning that it has filed for Chapter 11 reorganization rights. Other air carriers are expected to benefit from the reduction in competition, resulting heady gains for Delta Air Lines (DAL 7.76, +0.33), United Continental (UAL 17.63, +1.05), and US Airways (LCC 4.48, +0.21). DJ30 +51.58 NASDAQ -9.10 SP500 +4.04 NASDAQ Adv/Vol/Dec 805/1.00 bln/1670 NYSE Adv/Vol/Dec 1290/505 mln/1695

2:00 pm : The major equity averages continue to move in choppy fashion, but the overall direction of trade during the past couple of hours has been downward. As such, the stock market is at an afternoon low. Waning support comes without any clear catalyst or negative headline.DJ30 +31.03 NASDAQ -16.93 SP500 +2.04 NASDAQ Adv/Vol/Dec 1025/910 mln/1435 NYSE Adv/Vol/Dec 1560/460 mln/1405

1:30 pm : Stocks recently slipped to afternoon lows, but have managed to bounce back a bit. That has made Treasuries pause after attempting to move to higher ground. Nonetheless, the yield on the benchmark 10-year Note has already pushed back below 2.00%.DJ30 +59.49 NASDAQ -7.82 SP500 +5.53 NASDAQ Adv/Vol/Dec 1000/835 mln/1435 NYSE Adv/Vol/Dec 1590/425 mln/1375

1:00 pm : Stocks opened flat, but were able to push higher in the early going. The move was helped along by a surprisingly strong consumer confidence reading, but a loss of momentum has left the broad market to move along in choppy fashion.

Pre-market sentiment was helped by a positive tone that lingered from he prior session's surge, which was the best one-day bounce in a month, but support began to wane as efforts by Europe's bourses to sustain a rebound were tested. Most of the continent's major equity averages ultimately settled with modest gains.

Buyers regrouped at the open of domestic trade to redouble their efforts, sending the broad market to an early gain of almost 1%. The move was made easier by a better-than-expected Consumer Confidence Index, which spiked to 56.0 in November from 39.8 in the prior month. Stocks were unable to extend the move as the S&P 500 encountered resistance just beneath its 50-day moving average in the 1205 region.

Stocks have completely faltered in the face of resistance, though. Action in the broad market may be choppy, but both the S&P 500 and Dow have managed to maintain modest gains. Energy plays have been a primary source of support -- collectively, they're up 1.7%.

The Nasdaq has been lagging its counterparts all session, mostly due to pressure against large-cap tech plays, which have dragged down the overall tech sector to a 0.7% loss. DJ30 +58.89 NASDAQ -8.51 SP500 +5.46 NASDAQ Adv/Vol/Dec 1010/775 mln/1415 NYSE Adv/Vol/Dec 1640/395 mln/1305

12:30 pm : The major averages continue to trade in choppy fashion, but the lack of direction has enabled the broad market to maintain its healthy gain. Unfortunately for the Nasdaq, though, the price action has kept it mired near the neutral line.DJ30 +81.10 NASDAQ -1.65 SP500 +8.24 NASDAQ Adv/Vol/Dec 1110/690 mln/1295 NYSE Adv/Vol/Dec 1755/355 mln/1185

12:00 pm : Stocks are on the backslide again, but the broad market continues to trade with a solid gain. Energy stocks are providing it with support.

The energy sector has rallied to a 1.8% gain as oil and gas equipment and services plays add to their gains. Energy plays now make up the top performing sector in the S&P 500. Their strength comes as oil prices maintain their position above $99 per barrel -- the commodity was last quoted at $99.45 per barrel for a 1.3% gain. DJ30 +68.31 NASDAQ -3.87 SP500 +6.95 NASDAQ Adv/Vol/Dec 1100/595 mln/1260 NYSE Adv/Vol/Dec 1765/315 mln/1160

11:30 am : Stocks have been unable to rebound from recent pullback lows. Despite that, the broad market continues to boast a solid gain.

Financials were an early source of weakness, but the sector has successfully reversed its opening slide into a solid gain of 0.4%. Although the overall sector is trailing the broad market by a modest margin, regional bank plays like Fifth Third (FITB 11.47, +0.11), Key Corp (KEY 7.01, +0.19), and Huntington Bancshares (HBAN 4.88, +0.04) are all outperforming. DJ30 +84.73 NASDAQ +2.85 SP500 +8.84 NASDAQ Adv/Vol/Dec 980/495 mln/1355 NYSE Adv/Vol/Dec 1565/265 mln/1320

11:00 am : Stocks have retreated from their morning highs. The action actually took the Nasdaq all the way back to the neutral line before it was able to stabilize. The Nasdaq continues to trail its counterprts, though.

The Nasdaq's relative weakness comes as participants apply pressure to such large-cap components as Amazon.com (AMZN 189.80, -4.35). Although its loss isn't terribly steep, Google (GOOG 585.16, -3.03) is also under pressure. DJ30 +67.10 NASDAQ +3.58 SP500 +7.62 NASDAQ Adv/Vol/Dec 1225/390 mln/1050 NYSE Adv/Vol/Dec 1905/215 mln/940

10:30 am : The stock market's upward push on the back of a better-than-expected consumer confidence reading was checked down by sellers, but stocks are now battling back. The latest effort has taken the broad market to a new session high. Stocks are now above the heights reached in the prior session, putting the S&P 500 within only a couple of points of its 50-day moving average.

Commodities have also worked their way higher after a mixed start to the session. In turn, the CRB Index now sports a 0.6% gain. Oil prices have more than doubled their early gains so that the energy component is now up 1.5% to $99.65 per barrel. Natural gas has extended its bounce to $3.61 per MMBtu, which makes for a 2.4% gain.

Among precious metals, gold has pushed into positive territory so that it sports a 0.2% gain at $1714 per ounce. Meanwhile, silver has slashed its loss so that it is now at $32.07 per ounce, down 0.4% on the day. DJ30 +91.58 NASDAQ +13.44 SP500 +10.78 NASDAQ Adv/Vol/Dec 1090/205 mln/1060 NYSE Adv/Vol/Dec 1785/105 mln/925

10:00 am : Early attempts to push up from the flat line failed to gain momentum, leaving the major market averages to move along with only modest gains, but stocks recently got some help from a surprisingly strong consumer confidence reading.

The Consumer Confidence Index for November spiked to 56.0 from 39.8 in the prior month. It had been expected to improve to just 42.5. DJ30 +54.99 NASDAQ +7.52 SP500 +6.67 NASDAQ Adv/Vol/Dec 1145/60 mln/1170 NYSE Adv/Vol/Dec 900/100 mln/1140

09:45 am : Early action has been choppy, leaving the major equity averages to trade only narrowly above the neutral line.

Financials have been an early source of weakness. The sector has already slid to a 0.5% loss. In contrast, energy plays are trading with strength, resulting in a 0.5% gain. Tech stocks, which make up the largest sector by market weight, are currently unchanged. DJ30 +28.08 NASDAQ +2.28 SP500 +2.74 NASDAQ Adv/Vol/Dec NA/NA/NA NYSE Adv/Vol/Dec NA/NA/NA

09:15 am : S&P futures vs fair value: +2.90. Nasdaq futures vs fair value: -2.30. Stock futures have slowly surrendered most of their gains this morning, such that the broad market is now expected to start the session near the neutral line. Support for stock futures has waned while Europe's bourses struggle to sustain an intraday rebound and the euro slips against the greenback, which is now flat after it had been down earlier this morning. Corporate news generally remains light, as does economic data. The lack of catalysts could make for an interesting day of trade, given that stocks will be left to establish their own path after the prior session's surge, which not only made for the broad market's first advance in eight sessions, but also marked its best one-day bounce in a month.

09:05 am : S&P futures vs fair value: +3.30. Nasdaq futures vs fair value: -2.30. Commodities are somewhat mixed this morning, resulting in an incremental gain for the CRB Index. Natural gas prices were pressured in the prior session, but they are up a robust 1.6% to $3.58 per MMBtu this morning. Oil prices are up a solid 0.6% to $98.75 per barrel. Among precious metals, gold prices are down 0.2% to $1708 per ounce, while silver prices are down a much deeper 1.5% to $31.69 per ounce. In the backdrop, the dollar is now flat after it had been down against a collection of competing currencies earlier this morning.

08:35 am : S&P futures vs fair value: +5.10. Nasdaq futures vs fair value: +1.20. The EuroStoxx 50 gained more than 3% in the prior session, but is struggling to sustain a gain today. It is currently wavering near the neutral line after rebounding from negative territory during earlier trade. Many continue to cling to the hope that officials are progressing in their efforts to finish and implement plans to shore up otherwise precarious fiscal and financial conditions in both the core and periphery of the continent. That said, rumors have surfaced that France's sovereign debt rating may be put on review for a possible downgrade by analysts at S&P. France's CAC is currently off by 0.3%. Capgemini and Pernod Ricard are providing support, but that is being offset by weakness in financial outfits like Credit Agricole and BNP Paribas. In Britain, the FTSE is off by 0.2%. Lloyds Group (LYG 1.41, -0.03) is its poorest performer, but Randgold Resources is displaying strength. Germany's DAX has slipped to a fractional loss, despite leadership from Allianz for the second straight session.

Overnight action in Asia was generally guided by the aggressive buying that took place on Wall Street and in Europe on Monday. In turn, Japan's Nikkei bounded to a 2.3% gain. Mitsumi Electric was a top performer for the second straight session. Buying was broad based, but a few bank stocks, including Chiba Bank and Shizuoka Bank, failed to find support amid the bounce. Global financial giant HSBC (HBC 37.83, +0.00) helped lead Hong Kong's Hang Seng to a 1.2% gain. Mainland China's Shanghai Composite also climbed 1.2% in its latest round of trade.

Note: ticker quotes reflect pre-market prices

08:05 am : S&P futures vs fair value: +5.80. Nasdaq futures vs fair value: +2.20. Participants in Europe have settled in following the prior session surge that sent the EuroStoxx 50 to a gain well in excess of 3%. In turn, Europe's major bourses are moving along with moderate strength today. Consistent with long running trends, domestic traders are following the lead of their European counterparts. As such, futures for the S&P 500 are up modestly this morning.

Although the early tone is generally positive, shares of Tiffany & Co. (TIF 68.25, -5.37) are down more than 7% in response to disappointing guidance, which has overshadowed better-than-expected earnings for the most recent quarter. Meanwhile, news that AMR Corp. (AMR 0.64, -0.98) has filed for Chapter 11 bankruptcy, which will allow the company to reorganize itself, has dropped its shares 60% ahead of the open. Note: ticker quotes reflect pre-market prices.

The economic calendar remains light. It features the latest S&P Case/Shiller Home Price Index at 9:00 AM ET, followed by the latest Consumer Confidence Index at 10:00 AM ET.

06:46 am : [BRIEFING.COM] S&P futures vs fair value: +12.00. Nasdaq futures vs fair value: +15.30.

06:45 am : Nikkei...8477.82...+190.30...+2.30%. Hang Seng...18256.20...+218.40...+1.20%.

06:45 am : FTSE...5335.43...+22.70...+0.40%. DAX...5794.08...+48.80...+0.90%.

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

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