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 Post subject: December 1st Thursday 2011 Emini TF ($TF_F) points +14.90
PostPosted: Thu Dec 01, 2011 9:59 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)

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

Trade Performance for Today: +14.90 points or $1490 dollars in the Russell 2000 Emini TF ($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=98&t=1072.

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=146&t=1312

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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.

Blue Chips Can't Keep Up The Rally

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

By Ben Rooney @CNNMoneyMarkets December 1, 2011: 4:28 PM ET

NEW YORK (CNNMoney) -- U.S. stocks ended mixed Thursday, after a big rally on Wednesday, as investors were reluctant to push prices higher amid ongoing worries about Europe.

The Dow Jones industrial average (INDU) lost 26 points, or 0.21%, to 12,020. The S&P 500 (SPX) fell 2 points, or 0.2% to 1,244. But the Nasdaq (COMP) composite added 6 points, or 0.2%, to end at 2,626.

On Wednesday, all three major stock indexes closed the session more than 4% higher. The Dow's 490-point gain is the largest of 2011, and the best percentage gain since March, 2009.

Art Hogan, a managing director at Lazard Capital Markets, said a retreat is not surprising given the strong gains stock markets have made this week.

"We've virtually clawed back everything we gave up in November -- in three days," Hogan said. "It's difficult to not expect a bit of a pullback."

Stocks surged Wednesday after the Federal Reserve said it will work with other central banks to support the global economy.

Quote:

The move gave investors hope that world leaders are taking the necessary steps to avoid a credit crunch stemming from Europe's sovereign debt crisis. It was also seen as a sign of how acute the problems have become and the continued lack of a long-term solution.

Tobias Blattner, economist at Daiwa Capital Markets, said the action "provided further momentum to the general improvement in investor sentiment this week."

"But yesterday's (over)reaction by markets to a policy measure that did little else than lowering the cost of U.S. dollar funding for banks in Europe and elsewhere just shows how desperately markets are searching for positive news during these difficult times," Blattner wrote in a note to clients.

Meanwhile, French President Nicolas Sarkozy called for a new treaty to increase solidarity and financial discipline across Europe.

"Let's face it, Europe can be swept by the crisis if it does not pull itself together, if it does not change," Sarkozy said in a lengthy speech addressed to the French people.

German Chancellor Angela Merkel is expected to discuss the need for a more centralized budget policies in a speech Friday.

Meanwhile, European Central Bank president Mario Draghi said Europe needs a "new fiscal compact" to ensure that budget rules are respected and enforced.

In a comment that some investors interpreted as a sign the ECB could step up its rescue efforts, Draghi told the European Parliament that "other elements might follow" if the compact is adopted.

* Fears about U.S. keep investors in Europe

Investors have been clamoring for the ECB to intervene in eurozone sovereign debt markets on a large and unlimited basis. But the central bank is reluctant to prop up government finances and risk inflation by printing money.

The ECB is widely expected to announce a second interest rate cut at its policy meeting next week, after the bank lowered rates to 1.25% last month.

In addition, European political leaders are expected to announce details of their plan to ensure fiscal discipline at a summit next week.

Economy: The number of people filing for initial unemployment benefits rose by 6,000 to 402,000 in the latest week, the government said. That was higher than expected, with economists forecasting jobless claims to have totaled 390,000 for the week ending Nov. 26.

Setting the stage for Friday's closely-watched government jobs data, a report from Automatic Data Processing showed Wednesday that private-sector employment grew by 206,000 jobs in November.

* Young workers getting hired again

A CNNMoney survey of 21 economists predicts that the monthly jobs report due Friday will show that the economy added 110,000 jobs in November. In October, 80,000 jobs were added to payrolls. Most of the gain will likely come from the private sector, where it's estimated another 135,000 jobs were added.

The ISM manufacturing Index, a survey of purchasing managers, rose 1.9 to 52.7 in November. Analysts were expecting the index to hit 51.0, according to consensus estimates from Briefing.com.

Construction spending in October rose 0.8% to $798.5 billion, compared with a forecasted 0.3% increase.

Same-store sales for several major retailers rose in November, according to preliminary figures from Thomson Reuters.

* Yahoo takeover? About time

Companies: Shares of Yahoo (YHOO, Fortune 500) jumped more than 3% Thursday, amid speculation that Chinese Internet giant Alibaba and several private equity firms are planning to bid for all of Yahoo. The news followed reports on Wednesday, that Microsoft (MSFT, Fortune 500) and private equity firm Silver Lake were considering making an offer for a minority stake in Yahoo.

Shares of Lululemon (LULU) sank 5%, after the athletic appeal maker reported quarterly profits and sales figures that rose from last year, but missed analysts' expectations.

Barnes and Nobel (BKS, Fortune 500) shares plunged 16%, after the bookseller reported a $6.6 million net loss for the second quarter as total sales declined.

Currencies and commodities: The dollar slumped against the euro and British pound, but rose versus the Japanese yen.

Oil for January delivery slipped 13 cents to $100.06 a barrel.

Gold futures for December delivery fell $9.10 to $1,749 an ounce.

Bonds: The price on the benchmark 10-year U.S. Treasury slipped, pushing the yield up to 2.08% from 2.07% late Wednesday.

World markets: European stocks ended their session lower Thursday. Britain's FTSE 100 (UKX) slipped 0.3%, the DAX (DAX) in Germany edged lower 0.9% and France's CAC 40 (CAC40) shed 0.8%.

Asian markets ended sharply higher during the trading session, after Wall Street's big rally Wednesday.

The Shanghai Composite (SHCOMP) jumped 2.3%, the Hang Seng (HSI) in Hong Kong rallied 5.6% and Japan's Nikkei (N225) rose 1.9%.

The gains came despite a report showing that Chinese manufacturing slowed in November. The HSBC Purchasing Managers' Index (PMI) for China fell to a reading of 47.7 last month -- the lowest level since March 2009, and down from the previous month's level of 51.

Image

Market Update

4:30 pm : The major equity averages finished mixed as market participants opted to take a break from the action after stocks had rallied more than 7% during the course of the three previous sessions. Today's headlines weren't enough to motivate a follow-up effort.

The ISM Manufacturing Index improved in November to 52.7 from 50.8 in the prior month. Moreover, it exceeded the expected reading of 51.0. In contrast, China's PMI Manufacturing figure decreased to 49.0 in November from 50.4 in October. The eurozone's reading for November stayed at 46.4.

Domestic construction spending increased by 0.8% in October, besting the 0.3% increase that had been broadly expected.

Weekly initial jobless claims increased from an upwardly revised 396,000 to 402,000 in the face of calls for a total of 390,000 initial claims.

Retailers and auto makers came into closer focus today. Retailers offered up their latest same-store sales results, which proved relatively uninspiring. However, Aeropostale (ARO 16.19, +0.68) fought off a weak start that was owed to the apparel retailer's disappointing forecast. Even Guess? (GES 29.61, +1.49) scored a strong gain after traders dismissed its downside forecast.

Auto makers had a mixed session amid monthly U.S. sales numbers. General Motors (GM 20.96, -0.33) posted a 7% year-over-year increase in U.S. sales for November, while Ford (F 10.59, -0.01) offered up a 13% increase from the prior year. Toyota Motor (TM 65.72, -0.19) had an increase of little more than 2%.

Advancing Sectors: Tech +0.6%, Health Care +0.1%
Unchanged: Consumer Discretionary
Declining Sectors: Utilities -0.2%, Industrials -0.2%, Consumer Staples -0.3%, Telecom -0.4%, Materials -0.6%, Energy -0.7%, Financials -1.0%DJ30 -25.65 NASDAQ +5.86 NQ100 +0.6% R2K -0.9% SP400 -0.6% SP500 -2.38 NASDAQ Adv/Vol/Dec 927/1.83 bln/1599 NYSE Adv/Vol/Dec 1203/855 mln/1812

3:30 pm : Precious metals encountered pressure in afternoon trade, causing both gold and silver prices to settle lower for the session. More specifically, gold surrendered a mid-morning gain to settle with a 0.6% loss at $1739 per ounce. As for silver, it fell to $32.66 per ounce for a 0.5% loss after it had been up more than 1% this morning.

In the energy complex, oil prices settled with a 0.1% gain at $100.23 per barrel after oscillating for most of the session. Natural gas scored a 2.5% gain by settling pit trade at $3.64 per MMBtu. The move was helped along by bullish inventory data. DJ30 -7.19 NASDAQ +11.94 SP500 -0.46 NASDAQ Adv/Vol/Dec 1125/1.43 bln/1390 NYSE Adv/Vol/Dec 1380/575 mln/1615

3:00 pm : The broad market continues to muddle along. It is currently mired near the neutral line.

Monthly sales results from auto makers have been released intermittently today, but there hasn't been a great deal of action in the auto maker space. Among the more notable names, General Motors (GM 20.97, -0.33) said its U.S. sales for November were up 7% from the prior year. Ford (F 10.64, +0.03) said its domestic sales were up 13% from the prior year. Toyota Motor (TM 65.80, -0.11) registered an increase of little more than 2%, whereas Honda (HMC 31.63, -0.02) had a 10% decline in its America sales. DJ30 -7.07 NASDAQ +10.49 SP500 -0.58 NASDAQ Adv/Vol/Dec 1120/1.28 bln/1375 NYSE Adv/Vol/Dec 1385/515 mln/1595

2:30 pm : The stock market's recent push to an afternoon high has been stymied by sellers, who have redoubled their efforts to ensure that stocks continue to slog along in lackluster fashion.DJ30 -17.71 NASDAQ +7.92 SP500 -1.67 NASDAQ Adv/Vol/Dec 1105/1.20 bln/1380 NYSE Adv/Vol/Dec 1400/485 mln/1580

2:00 pm : Stocks have managed to extend a recent upturn. The effort has put the broad market at an afternoon high, although its gain is only marginal at best. The move comes with help from the tech sector, which is the largest by market weight. Tech stocks are now up 0.7%, collectively.DJ30 +0.68 NASDAQ +11.61 SP500 +1.14 NASDAQ Adv/Vol/Dec 1030/1.08 bln/1440 NYSE Adv/Vol/Dec 1345/445 mln/1610

1:30 pm : Listless action has left stocks to continue chopping along in lackluster fashion. There haven't been any headlines of late to shake up the action.

Outside of equities, the dollar has paused after attempting to trim its loss. That has left it trailing a collection of competing currencies by about 0.2%.

Although the dollar isn't doing a whole lot, commodities continue to contend with selling pressure. In turn, the CRB Commodity Index is still down 0.5%. DJ30 -34.85 NASDAQ +3.15 SP500 -3.28 NASDAQ Adv/Vol/Dec 885/995 mln/1550 NYSE Adv/Vol/Dec 1140/415 mln/1810

1:00 pm : Stocks are chopping along in lackluster fashion following the prior session's surge, which was the best one-day bounce for the market in three months and has stocks on track for their best weekly performance in more than two years.

The relative calm today comes as the major market averages pause to catch their breath following the prior session's spike. The latest round of headlines hasn't been enough to encourage buyers to engage in a follow-up effort.

Domestic manufacturing activity improved more than expected during November. That lifted the latest ISM Manufacturing Index to 52.7. In contrast, China reported a decline in manufacturing activity during November.

Construction spending also exceeded expectations by increasing 0.8% in October.

However, the most recent weekly initial jobless claims tally totaled 402,000, which is greater than what had been widely expected. It is also up from the prior week's count.

On the corporate front, retailers reported a relatively uninspiring round of same-store sales results. Despite that, the SPDR S&P Retail ETF (XRT 51.99, +0.11) has managed to muster a modest gain while the broader market muddles along in negative territory.

Financials have been weighed on broad market action for almost all of the session. The sector's slide to a 1.6% loss comes after it had surged in excess of 6% during the prior session. DJ30 -66.98 NASDAQ -2.71 SP500 -6.50 NASDAQ Adv/Vol/Dec 930/920 mln/1500 NYSE Adv/Vol/Dec 1255/380 mln/1690

12:30 pm : The greenback has made a marginal move higher to close the gap between it and a basket of major foreign currencies. The dollar's effort to advance has been helped by news that the Swiss government might consider negative interest rates. The dollar is now down less than 0.2% for the day.DJ30 -31.48 NASDAQ +5.66 SP500 -2.44 NASDAQ Adv/Vol/Dec 920/820 mln/1485 NYSE Adv/Vol/Dec 1230/345 mln/1695

12:00 pm : Commodities have reversed in recent trade. They had opened the session in lackluster fashion, but were able to push higher over the course of a couple of hours. The space has since come under a flurry of selling pressure, resulting in a 0.5% loss for the CRB Index.

With commodities on the backslide, natural resource plays are experiencing some additional selling pressure. That has caused the energy sector and materials sector, respectively down 0.8% and 0.7%, to trail the broad market by a sizable margin. DJ30 -36.89 NASDAQ +1.10 SP500 -3.99 NASDAQ Adv/Vol/Dec 895/740 mln/1485 NYSE Adv/Vol/Dec 1190/315 mln/1725

11:30 am : Stocks have descended to session lows, but overall losses remain modest.

With the broad market's slip, financials have extended their slide to a loss of almost 2%. The seactor's weakness has been exacerbated by headlines that the Mass. Attorney General is filing a lawsuit against Bank of America (BAC 5.33, -0.11), Citigroup (C 26.68, -0.80), JPMorgan Chase (JPM 30.09, -0.88), and Wells Fargo (WFC 25.34, -0.52). DJ30 -46.62 NASDAQ -4.79 SP500 -5.27 NASDAQ Adv/Vol/Dec 840/600 mln/1510 NYSE Adv/Vol/Dec 1275/255 mln/1600

11:00 am : Stocks have drifted down from their morning highs, sending the three major equity averages back into the red.

Financials are becoming an increasingly heavy drag. The sector, now down 1.3%, is the worst performing group in the broader market. There still isn't a single sector that has been successfully in attracting the support necessary to offset weakness among financials. Consumer staples stocks and health care stocks are in the best shape, but each sector is up just 0.3%. DJ30 -31.78 NASDAQ -2.37 SP500 -1.94 NASDAQ Adv/Vol/Dec 810/465 mln/1465 NYSE Adv/Vol/Dec 1365/205 mln/1455

10:35 am : The CRB Commodity Index is up 0.4% after it had been flat earlier this morning.

Oil prices are up 0.6% to $100.95 per barrel after they had been flat in early pit trade. In contrast, natural gas prices were up solidly in early pit trade, but then the energy component gave back those gains to trade flat ahead of the latest weekly inventory report, which showed a draw of 1 bcf when a build of 10 bcf had been expected. Natural gas prices have surged to $3.66 per MMBtu for a 3.2% gain in the wake of that report.

Precious metals are performing well. Specifically, gold prices have pushed up to $1755 per ounce, which makes for a 0.3% gain, while silver prices are sporting a 1.5% gain at $33.30 per ounce. Silver's strength continues after the precious metal had climbed nearly 3% in the prior session. DJ30 -10.48 NASDAQ +3.81 SP500 +0.34 NASDAQ Adv/Vol/Dec 1125/335 mln/1100 NYSE Adv/Vol/Dec 1700/155 mln/1065

10:00 am : The Nasdaq has managed to make a nice move into positive territory after opening trade with a modest loss. Its upward push comes amid strength in large-cap names like Amazon.com (AMZN 195.80, +3.51) and Google (GOOG 609.50, +10.11).

Market participants are now digesting the ISM Manufacturing Index for November. It came in at 52.7, which is up from the 50.8 that had been posted in the prior month and greater than the expected reading of 51.0.

Construction spending data were also released moments ago. Overall spending increased by 0.8% in October. A more tepid increase of 0.3% had been broadly expected. DJ30 -13.17 NASDAQ +11.17 SP500 +0.94 NASDAQ Adv/Vol/Dec 570/120 mln/1535 NYSE Adv/Vol/Dec 860/80 mln/1820

09:45 am : The major equity averages are down modestly this morning. The slip comes as participants cool on stocks after bidding them more than 7% higher in only three sessions. Recall, though, that surge came after the broad market had logged seven straight losses.

Financials are a source of early weakness. The sector is currently down 1% after it had surged well in excess of 6%. There isn't a single sector showing enough strength to offset such weakness. DJ30 -15.22 NASDAQ -0.58 SP500 -1.22 NASDAQ Adv/Vol/Dec NA/NA/NA NYSE Adv/Vol/Dec NA/NA/NA

09:15 am : S&P futures vs fair value: -3.20. Nasdaq futures vs fair value: -1.30. Stock futures point to a flat to mildly lower open as market participants take pause following a frenzy of buying in the prior session, which saw stocks score their best single-session performance in three months. Given the gains already booked earlier in the week, stocks are now sitting on a weekly gain in excess of 7%. It has been more than two years since the market put together such a strong weekly performance.

Buying yesterday was motivated by encouraging headlines and upbeat data, but data today has generally underwhelmed. Among the more notable releases, manufacturing figures from China showed a decline in activity during November (domestic manufacturing data at 10:00 AM ET). Traders were also dealt a lackluster weekly initial jobless claims count, which made an unexpected, albeit modest, increase from the prior week. Corporate news has been relatively limited, although retailers are out with their latest same-store sales results. Their numbers really haven't been anything to boast about.

09:05 am : S&P futures vs fair value: -3.40. Nasdaq futures vs fair value: -1.80. Commodities are mixed this morning, leaving the CRB Index to dance along the neutral line. Among its primary components, oil prices have slipped to $100.15 per barrel for a 0.2% loss. Natural gas prices have pushed up to $3.57 per MMBtu for a 0.5% gain after they had underperformed in the prior session. Weekly natural gas inventory numbers will be released at 10:30 AM ET. Precious metals are also seeing varied interest. Gold has struggled to garner much support, leaving it to trade flat at $1751 per ounce. As for silver, it is sporting a 1.1% gain at $33.18 per ounce. Silvers move comes on top of a near 3% spike in the prior session.

08:35 am : S&P futures vs fair value: -3.10. Nasdaq futures vs fair value: flat. Stock futures have slipped some as pre-market participants respond to the initial jobless claims tally for the week ended Novemer 26. It totaled 402,000, which is greater than the 390,000 initial claims that had been expected, on average, among economists polled by Briefing.com. The latest tally also marks an increase of 6,000 from the upwardly revised count posted for the prior week.

08:05 am : S&P futures vs fair value: -1.30. Nasdaq futures vs fair value: +2.20. Stocks appear to be taking a breather after climbing more than 7% in just three sessions. As such, futures point to a flat start for the session. A day after digesting a barrage of encouraging and upbeat headlines, market participants are assessing lackluster data from China and auction results from Spain and France.

Retailers are also out with their latest same-store sales results, which have been relatively mixed. Quarterly results from Guess? (GES 27.60, -0.52) and Aeropostale (ARO 15.20, -0.31) have disappointed early participants (ticker quotes reflect premarket prices).

The dollar continues to trade with weakness, which has left it trailing a competing collection of currencies by 0.3%. It is down nearly 2% this week.

On tap for today, weekly initial jobless claims will be posted at the bottom of the hour, followed by the latest ISM Manufacturing Index and monthly construction spending numbers at 10:00 AM ET.

06:29 am : [BRIEFING.COM] S&P futures vs fair value: -5.30. Nasdaq futures vs fair value: -3.80.

06:29 am : Nikkei...8597.38...+162.80...+1.90%. Hang Seng...19002.26...+1012.90...+5.60%.

06:29 am : FTSE...5521.85...+16.40...+0.30%. DAX...6040.25...-48.60...-0.80%.

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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