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 5:39 pm

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: December 7th Wednesday 2011 Emini TF ($TF_F) points +15.00
PostPosted: Wed Dec 07, 2011 10:51 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:
120711-wrbtrader-PnL-Blotter-Profit-1500.png
120711-wrbtrader-PnL-Blotter-Profit-1500.png [ 74.82 KiB | Viewed 297 times ]

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

Trade Performance for Today: +15.00 points or $1500 dollars in the Russell 2000 Emini TF ($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=1077.

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

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

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.

Stocks Gain As Europe Nears Moment Of Truth

Attachment:
120711-Key-Price-Action-Markets.png
120711-Key-Price-Action-Markets.png [ 522.61 KiB | Viewed 275 times ]

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

NEW YORK (CNNMoney) -- U.S. stocks ended mostly higher Wednesday as investors bet that European leaders will produce a meaningful solution to the debt crisis at a highly anticipated summit this week.

The Dow Jones industrial average (INDU) rose 46 points, or 0.3%, to end at 12,196. The S&P 500 (SPX) gained 2 points, or 0.2%, to 1,261. The Nasdaq (COMP) declined less than 1 point to 2,649.

European Union leaders will meet Thursday and Friday in Brussels to discuss closer political and economic coordination, as well as other measures to restore market confidence and stabilize the euro currency.

Stocks rallied last week on signs that EU officials are prepared to make fundamental reforms to resolve the debt crisis. But trading has been choppy this week amid a flurry of rumors about what the politicians may or may not announce after the summit.

"Expectations are still high, and probably reasonable," said Paul Zemsky, head of multi asset strategies at ING Investment Management. "Certainly Germany and France understand the magnitude of the situation, and the ECB is on board with a rate cut expected tomorrow."

* Europe will be a 'catastrophe' without a solution

On Thursday, the European Central Bank is widely expected to cut interest rates by up to 0.5% as the risk of a broad recession in Europe continues to rise.

U.S. Treasury Secretary Tim Geithner is in Europe this week to meet with top government officials, highlighting the growing concern in Washington about the eurozone debt crisis.

After meeting with his French counterpart, Geithner sounded confident about European leaders' ability to enact fiscal reforms and boost economic growth.

Meanwhile, investors were unfazed by news that Standard & Poor's has placed the EU's long-term credit rating on review for a possible downgrade. The agency also warned that several European banks are on "creditwatch," meaning there's an increased chance of a downgrade.

S&P said Monday that 15 of the 17 eurozone nations that weren't already under scrutiny are now being reviewed, including AAA-rated Germany and France.

Stocks closed mostly higher Tuesday after a report said EU officials were considering a plan to combine the resources of an existing bailout fund with one that comes on line next year. But those hopes were damped Wednesday after an unnamed German official flatly denied the report.

"There have been great expectations built up ahead of these meetings before, only to be disappointed," said David Jones, chief market strategist at IG Markets in London. "There's a little bit of caution creeping back into the market because we don't know what's going to happen Friday."

* Video - Origins of the euro crisis

World markets: European stocks fell, but closed off the lowest levels of the day. Britain's FTSE 100 (UKX) fell 0.4%, the DAX (DAX) in Germany lost 0.6% and France's CAC 40 (CAC40) ended little changed.

Asian markets ended higher. The Shanghai Composite (SHCOMP) edged up 0.3%, the Hang Seng (HSI) in Hong Kong added 1.6% and Japan's Nikkei (N225) jumped 1.7%.

Economy: U.S. consumer credit rose by $7.7 billion in October, or 3.7% an annual rate, the Federal Reserve said.

* Billionaires with 1% tax rates

Companies: Shares of Citigroup (C, Fortune 500) fell after CEO Vikram Pandit said late Tuesday that the banking giant would lay off roughly 4,500 employees over the next few months.

Shares of retailer Talbots (TLB) skyrocketed 60% after it said it had received a bid from buyout firm Sycamore Partners.

Early Wednesday, retailer J.C. Penney (JCP, Fortune 500) announced it would buy a stake in home decor expert Martha Stewart's franchise, Martha Stewart Living Omnimedia (MSO). The retail giant said it would invest $38.5 million. Shares of Martha Stewart Living rose 33% in early trading.

Shares of Monsanto (MON, Fortune 500) fell after the agriculture company raised its fiscal first- quarter earnings-per-share guidance.

Currencies and commodities: The dollar fell versus the euro, British pound and the Japanese yen.

Oil for January delivery fell 79 cents to $100.49 a barrel.

Gold futures for February delivery rose $13 to $1,744.80 an ounce.

Bonds: The price on the benchmark 10-year U.S. Treasury held rose, with the yield easing to 2.06%.

Image

Market Update

4:30 pm : Efforts to overcome early losses looked like they would end with stocks at the flat line for the second straight session, but a late squeeze gave the broad market a modest gain as participants spent the final minutes positioning themselves for the European Central Bank's monetary policy statement and the outcome of a summit of eurozone officials later this week.

Sellers sent the major averages down to marked losses in the opening minutes, but the tone of trade strengthened when financials began to offer leadership following word that results from recent EBA stress tests will be released tomorrow. Financials were down about 1% at their session low, worked their way up to the flat line, and then squeezed higher into the close for a 1.2% gain. Financials were among the poorest performers in early trade, but boasted the biggest gains by the finish.

Health care stocks make up the day's the second best performing sector, but their 0.6% advance is only half of what the financial sector scored. Pharmaceutical play Pfizer (PFE 20.47, +0.24) provided leadership to the sector for the second straight session. The stock, along with a few other blue chips, also helped keep the Dow out in front of its counterparts for the second day in a row.

The market's path to a gain was interrupted for a time by reports that analysts at S&P may be questioning the European Union's top-notch credit rating. The potential for a downgrade comes amid persistently precarious conditions in the region, so the threat of a negative revision wasn't regarded as anything new, but it did remind traders of the headline risk associated with Europe.

Although stocks stretched higher during the last leg of trade, their position was pared in the final few minutes. That left the major averages to settle shy of session highs.

Advancing Sectors: Financials +1.2%, Health Care +0.6%, Consumer Discretionary +0.5%, Telecom +0.2%, Tech +0.1%, Consumer Staples +0.1%, Materials +0.1%
Declining Sectors: Industrials -0.2%, Utilities -0.3%, Energy -0.3%DJ30 +46.24 NASDAQ -0.35 NQ100 +0.0% R2K -0.1% SP400 -0.2% SP500 +2.54 NASDAQ Adv/Vol/Dec 1167/1.64 bln/1327 NYSE Adv/Vol/Dec 1584/960 mln/1407

3:30 pm : Crude oil settled 0.8% lower at $100.49 per barrel. Futures sold off sharply on the heels of this morning's inventory data, which showed levels that were in line with what had been expected, but gasoline inventories showed a build that was greater than what had been expected. Crude oil futures fell as low as $99.67 per barrel before rebounding. Natural gas finished lower by 1.9% at $3.42 per MMBtu after selling-off steadily throughout the session.

Gold ended higher by 0.7% at $1744.50 per ounce. Futures spent the majority of the session chopping around the $1740 area, but session highs were set at $1745.40 per ounce. Gold garnered strength from modest weakness in the dollar. Silver settled lower by 0.4% at $32.62 per ounce. The precious metal flirted with the unchanged mark for most of the session, but was unsuccessful in its efforts to trade meaningfully above it. DJ30 +42.15 NASDAQ -5.55 SP500 +0.60 NASDAQ Adv/Vol/Dec 790/1.18 bln/1705 NYSE Adv/Vol/Dec 1100/510 mln/1890

3:00 pm : Stocks recently fell to fresh afternoon lows following reports that have essentially called into question the stability of the European Union's top-notch credit rating. The reasons that underpin the possibility of a downgrade are the same that have left the region in such precarious shape, but it reminds traders of the headline risk associated with Europe.

Traders just got their first dose of data in a couple of days, but it wasn't anything market moving. Consumer credit during increased by $7.6 billion, which is greater than the increase of $7.0 billion that had been broadly expected.

Tomorrow brings a more meaningful set of items. The latest monetary policy announcement from both the Bank of England and the European Central Bank are due tomorrow morning, before the beginning of the trading day. Market participants are also scheduled to receive the latest weekly initial jobless claims count prior to the open. Monthly wholesale trade numbers are also on tap for tomorrow. DJ30 -4.62 NASDAQ -15.40 SP500 -4.45 NASDAQ Adv/Vol/Dec 850/1.09 bln/1635 NYSE Adv/Vol/Dec 1235/470 mln/1745

2:30 pm : The broad market was recently mired near the neutral line, but its inability to overcome resistance there has prompted some participants to apply pressure. That has caused stocks to drift down to their lowest level of the past couple of hours.

Going against the afternoon trend, health care stocks have successfully pushed up to session highs. Health care stocks now collectively sport a 0.4% gain that is better than what any other sector has achieved. Health care issues are being led by large-cap pharmaceutical play Pfizer (PFE 20.53, +0.31) for the second straight session. DJ30 +11.84 NASDAQ -10.98 SP500 -2.58 NASDAQ Adv/Vol/Dec 885/980 mln/1560 NYSE Adv/Vol/Dec 1250/420 mln/1710

2:00 pm : Stocks are little changed from recent levels. Financials had been providing leadership, but the sector has lost momentum and now trades with only a narrow gain of about 0.2%. Financials are still up solidly from the near 1% that they were forced to wrestle with at session lows, though.DJ30 +18.24 NASDAQ -7.46 SP500 -2.22 NASDAQ Adv/Vol/Dec 890/910 mln/1565 NYSE Adv/Vol/Dec 1285/390 mln/1645

1:30 pm : Stocks have been unable to build on their recent bounce. In turn, the stock market remains mired near the neutral line. As was the case in the prior session, the S&P 500 is flat while the Dow holds on to a modest gain and the Nasdaq trades in the red with a modest loss.DJ30 +34.62 NASDAQ -3.20 SP500 -0.28 NASDAQ Adv/Vol/Dec 930/830 mln/1495 NYSE Adv/Vol/Dec 1335/355 mln/1585

1:00 pm : Stocks have spent the past couple of hours staging a steady climb off of morning lows, taking the broad market to the flat line. Financials have led the move after faltering in the early going.

The tone of overnight trade was generally upbeat, but pre-market posture flattened with the approach of the open. Traders failed to find encouragement from news that the European Central Bank (ECB) will relax criteria for loan collateral, choosing instead to remain focused on tomorrow's monetary policy decision from the ECB and the outcome of a summit of eurozone officials later this week.

Participants applied pressure once the session opened, sending all 10 major sectors into the red. Financials were among those that were hit the hardest. At its session low the financial sector was down about 1%. However, financials have been rallying back. The sector's bounce to a 0.4% gain comes in the wake of news that results from recent EBA stress tests will be released tomorrow.

The bounce by the financial sector has provided the broad market with leadership, which is something that stocks were without in the prior session, helping it cut its loss. The stock market is now mired near the neutral line, though.

Amid the improved tone of trade, the dollar has given back its morning gain so that it now trails a collection of competing currencies by about 0.2%. The dollar is now down 0.3% for the week. DJ30 +30.04 NASDAQ -1.48 SP500 -0.22 NASDAQ Adv/Vol/Dec 830/760 mln/1565 NYSE Adv/Vol/Dec 1275/325 mln/1630

12:30 pm : Stocks had to pause before resuming efforts to trade higher. The major averages now sit at session highs. Financials continue to provide leadership. The sector is now up 0.3%, which may be modest, but it marks considerable improvement from the near 1% loss that the sector traded with in the early going.DJ30 +26.11 NASDAQ -5.81 SP500 -1.05 NASDAQ Adv/Vol/Dec 740/675 mln/1635 NYSE Adv/Vol/Dec 1095/290 mln/1805

12:00 pm : Momentum behind the stock market's recent bounce has slowed. That has kept the major equity averages in negative territory, although the Dow came quite close to turning positive. This is the second straight session that the Dow has displayed relative strength versus its counterparts; its strength comes as participants show a preference for blue chips.DJ30 -8.93 NASDAQ -12.07 SP500 -4.73 NASDAQ Adv/Vol/Dec 690/585 mln/1665 NYSE Adv/Vol/Dec 1020/255 mln/1845

11:30 am : Stocks are building on a recent bounce that lifted stocks from session lows. Each of the three major averages is now at a session high.

Financials have provided leadership to the stock market's recent upturn. The sector is now down only modestly after it had been wrestling with a loss of about 1%. The sector's climb comes in the wake of news that results from recent EBA stress tests will be released tomorrow. DJ30 -20.02 NASDAQ -15.89 SP500 -5.37 NASDAQ Adv/Vol/Dec 490/480 mln/1835 NYSE Adv/Vol/Dec 700/215 mln/2130

11:00 am : Stocks were recently knocked down another leg to set fresh session lows, but they have managed to rebound back to earlier levels. Overall, though, the tone of trade remains weak. As such, there still isn't a single sector that has managed to poke into positive territory this session.

With stocks contending with steady selling pressure, Treasuries have managed to make a modest move higher. In turn, the yield on the benchmark 10-year Note is back near 2.05%. DJ30 -48.93 NASDAQ -26.69 SP500 -9.05 NASDAQ Adv/Vol/Dec 405/370 mln/1900 NYSE Adv/Vol/Dec 560/170 mln/2255

10:35 am : The dollar index is near the flat line after pulling back earlier this morning from its session high of around 78.73. However, the vast majority of commodities are trading in negative territory. Gold and a few soft commodities (soybeans, rice and oats) are showing any gains.

Crude oil came close to breaking through the $102 level in overnight activity when it hit its session high of $101.94/barrel. After hits that level, however, crude fell into a rather steady downtrend until about 30 minutes before pit trading began. Ahead of the weekly inventory data, crude was down about 0.3%. Following the data, which showed a build of 1.3 million barrels versus the consensus of a draw of 1.3 million barrels, crude futures (continuous contract) fell to a new session low of $100.20/barrel and is now trading 0.8% lower at $100.43/barrel.

Natural gas traded near the $3.50 area during the overnight session, but lost steam about four hours and has pulled back about five cents. Currently, natural gas is down 1.6% at $3.43/MMBtu.

Gold is up modestly, while the rest of the metals complex is in the red. In current activity, gold is trading 0.4% at $1737.90/oz, while silver is down 0.3% at $32.64/oz. Copper is 1.2% lower at $3.53/lb, platinum is down 0.8% at $1512.60/oz and aluminum is down 0.8% at $1960/ton.DJ30 -77.50 NASDAQ -35.25 SP500 -12.53 NASDAQ Adv/Vol/Dec 404/331 mln/1882 NYSE Adv/Vol/Dec 513/154 mln/2263

10:00 am : Stocks have stabilized since sliding at the open. Still, losses are broad with every single sector in negative territory.

Both the tech sector and financial sector are down 0.9%, making them the worst performing groups of the early going. Application software issues are among the weakest components of the tech sector, while specialized finance plays are among the poorest components of the financial sector. DJ30 -57.52 NASDAQ -27.99 SP500 -8.83 NASDAQ Adv/Vol/Dec 395/85 mln/1660 NYSE Adv/Vol/Dec 440/55 mln/2145

09:45 am : Stocks have slid to sizable losses in the opening minutes of trade. The Nasdaq's descent has been steeper than that of either of its counterparts -- Amazon.com (AMZN 189.25, -2.74) has been a heavy drag on the Nasdaq in the early going. Meanwhile, blue chips like Procter & Gamble (PG 64.78, -0.06) and Wal-Mart (WMT 58.78, +0.36) are helping the Dow limit its loss to only a modest decline. The Dow and Nasdaq also traded along different paths in the prior session.DJ30 -70.04 NASDAQ -28.65 SP500 -8.65 NASDAQ Adv/Vol/Dec NA/NA/NA NYSE Adv/Vol/Dec NA/NA/NA

09:15 am : S&P futures vs fair value: -4.40. Nasdaq futures vs fair value: -5.80. Stock futures point to a flat start after they had been bid higher overnight. The decline in buying interest comes as trade in Europe turns lackluster, despite news that the European Central Bank (ECB) will relax criteria for loan collateral. The announcement precedes the latest monetary policy decision from the ECB and the outcome of a summit of eurozone officials. The euro is showing weakness ahead of those events; it currently trails the dollar by 0.4%. Corporate news and economic data remain limited, giving market participants few directional cues for the second straight session.

09:05 am : S&P futures vs fair value: -4.30. Nasdaq futures vs fair value: -4.80. Commodities are somewhat mixed this morning. That has the CRB Index near the neutral line with a loss of only 0.2%. Among its more closely tracked components, oil prices are down 0.4% to $100.90 per barrel ahead of weekly inventory data at 10:30 AM ET, while natural gas prices are down 0.8% to $3.46 per MMBtu. As for precious metals, gold prices are up 0.4% to $1739 per ounce, while silver is flat at $32.75 per ounce.

08:35 am : S&P futures vs fair value: -3.60. Nasdaq futures vs fair value: -4.00. Domestic stock futures continue to come under moderate pressure, leaving them to trail fair value after they had been up nicely alongside Asia's averages in overnight trade. Japan's Nikkei put together a 1.7% gain, while Hong Kong's Hang Seng ascended 1.6%. The former's climb was fueled by broad-based buying, but interest was especially strong in shares of Sony (SNE 18.48, +0.80) and Fuji Heavy Equipment. The latter Index was led by natural resource issues and property plays. The Shanghai Composite tacked on a relatively tame 0.4%.

Action in Europe has been mostly mixed, even after recent reports indicated that the European Central Bank (ECB) will loosen criteria for loan collateral. That precedes the ECB's monetary policy announcement tomorrow and the outcome of a highly anticipated eurozone summit. In Germany, the DAX is down 0.9%. Metro AG has been a heavy drag following a couple of analyst downgrades. Automakers Daimler and Volkswagen have found support, though. France's CAC has successfully limited its loss to only 0.3%. Alcatel-Lucent (ALU 1.62, +0.02) and Sanofi-Aventis (SNY 35.17, +0.17) have been leaders there, but Societe Generale and BNP Paribas remain sources of weakness. Britain's FTSE is now flat. Strength in Randgold Resources, Eurasian Natural Resources, and Rio Tinto (RIO 52.65, +0.06) is being offset by weakness in shares of ITV Plc, Glencore International, and Aviva.

Note: ticker quotes reflect pre-market prices.

08:05 am : S&P futures vs fair value: -1.40. Nasdaq futures vs fair value: +0.20. Broad market futures have handed back almost all of their pre-market gains, leaving them positioned to start today's trade flat. That would essentially extend the sideways drift that stocks experienced in the prior session. Participants continue to monitor closely developments in the eurozone, especially in the absence of meaningful economic data and market-moving corporate news. Tomorrow morning brings the latest monetary policy decision from the European Central Bank. A eurozone summit late this week is also garnering a great deal of interest.

06:51 am : [BRIEFING.COM] S&P futures vs fair value: +4.50. Nasdaq futures vs fair value: +12.20.

06:51 am : Nikkei...8722.17...+147.00...+1.70%. Hang Seng...19240.58...+298.40...+1.60%.

06:51 am : FTSE...5576.57...+7.90...+0.10%. DAX...6048.55...+19.70...+0.30%.

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