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 Post subject: January 9th Monday 2012 Emini TF ($TF_F) points +9.60
PostPosted: Tue Jan 10, 2012 1:04 am 
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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: +9.60 points or $960 dollars in the Russell 2000 Emini TF ($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=100&t=1110.

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=148&t=1341

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

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 Gain Before Earnings as Europe Leaders Meet

Jan. 9 (Bloomberg) -- Bloomberg's Deborah Kostroun reports on the performance of the U.S. equity market today. U.S. stocks advanced, extending last week's rally for the Standard & Poor's 500 Index, as European leaders discussed shoring up the region's currency and investors awaited the start of the fourth-quarter earnings season. Julie Hyman reports on Alcoa Inc.'s fourth-quarter loss. Mark Crumpton also speaks.

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Market Update

4:30 pm : The major equity averages mustered modest gains after muddling along for most of the session. The slog was a consequence of listlessness amid a lack of catalysts.

An absence of data and market-moving corporate news this morning left market participants with few cues in the early going. Participants also shrugged off a bounce by the euro, which ended the day with a 0.7% gain against the greenback, because Europe's bourses failed to display the same positive sentiment by trading lower. A meeting between officials from France and Germany failed to produce any encouraging headlines about efforts to restore conditions in the European continent.

Although the broad market was range bound for most of the day, industrials stocks eventually moved ahead of the herd. As a group, industrials were able to ascend to a 0.8% gain. That bested both energy and financials, which finished with gains of 0.6% and 0.5%, respectively. Technology stocks, which collectively represent the largest sector by market weight, offset that strength by trading down to a 0.3% loss, even though shares of semiconductor players were boosted by positive analyst commentary.

While many participants were focused on the prospects of earnings season, which is unofficially ushered in by Dow component Alcoa (AA 9.43, +0.27), Inhibitex (INHX 23.70, +13.83) attracted attention because Bristol Myers Squibb (BMY 33.91, -0.31) will pay a premium of about 160% over the stock's prior session closing price so that the company may be acquired. Shares of Achillion Pharma (ACHN 9.72, +1.80) traded higher in conjunction with the announcement.

Although earnings season may be unofficially under way, market participants will still have to go without any economic data of consequence until later in the week. Since the earnings season doesn't get going in earnest until next week and economic news will be limited in coming days, trade may remain anemic, even after all of the end-of-year holidays and vacations. With less than 800 million shares traded on the NYSE today, the paltry share volumes of the past couple of weeks do not yet appear to have passed.

Advancing Sectors: Industrials +0.8%, Energy +0.6%, Financials +0.5%, Materials +0.2%, Utilities +0.2%, Health Care +0.2%, Consumer Staples +0.1%
Unchanged: Consumer Discretionary
Declining Sectors: Telecom -0.1%, Tech -0.3%DJ30 +32.77 NASDAQ +2.34 NQ100 -0.2% R2K +0.5% SP400 +0.5% SP500 +2.89 NASDAQ Adv/Vol/Dec 1433/1.79 bln/1074 NYSE Adv/Vol/Dec 1908/720 mln/1088

3:30 pm : Most commodities were clipped for losses today. As such, oil futures prices were trimmed to $101.15 per barrel for a 0.6% loss. Meanwhile, natural gas prices fell 1.6% to $3.01 per MMBtu. Along the way the energy component broke below the $3 per MMBtu level.

Precious metals forfeited gains made during an advance in the early going, resulting in a 0.5% loss for gold and a 0.5% gain for silver. The two metals settled at $1609.40 per ounce and $28.85 per ounce, respectively. DJ30 +29.71 NASDAQ +4.34 SP500 +2.70 NASDAQ Adv/Vol/Dec 1410/1.40 bln/1100 NYSE Adv/Vol/Dec 1845/440 mln/1135

3:00 pm : Rather than build on their recent move to afternoon highs, stocks have faltered a bit. Their slip hasn't taken the major averages out of positive territory, though.

Only one hour remains in today's trade. Participants are preparing for earnings season's unofficial start, which is marked by the quarterly report from Dow component Alcoa (AA 9.40, +0.24). Shares of the metals outfit have been running higher ahead of the report. That has helped offset the slip shares suffered late last week when the company announced plans to shrink its smelting capacity. DJ30 +28.65 NASDAQ +6.01 SP500 +2.34 NASDAQ Adv/Vol/Dec 1470/1.26 bln/1030 NYSE Adv/Vol/Dec 1915/395 mln/1035

2:30 pm : Stocks have slowly worked their way up to afternoon highs, but overall gains remain modest.

There hasn't been much trading going on today, largely a consequence of the lack of catalysts and news items. In turn, share volume has been paltry.

However, participation could see a pick up in coming days because of earnings season. Economic data remain limited in both scope and significance this week, though. DJ30 +28.12 NASDAQ +5.70 SP500 +2.85 NASDAQ Adv/Vol/Dec 1435/1.17 bln/1035 NYSE Adv/Vol/Dec 1840/370 mln/1100

2:00 pm : Each of the three major equity averages is narrowly above its neutral line. Although the strength of their leadership remains relatively limited, energy stocks and financial stocks are providing support this afternoon. Both sectors are up 0.5%, which may not be all that great, but it is better than what any other sector has achieved.

Among financial plays, bank stocks are in strong shape, such that the KBW Bank Index is up 1.5%. As for energy-related issues, strength among oil services stocks has the Market Vectors Oil Services ETF (OIH 118.25, +0.95) up nearly 1%. DJ30 +27.93 NASDAQ +4.32 SP500 +2.65 NASDAQ Adv/Vol/Dec 1405/1.05 bln/1070 NYSE Adv/Vol/Dec 1750/330 mln/1175

1:30 pm : Treasuries have had a quiet session. Still, in the face of the stock market's listlessness the benchmark 10-year Note has managed to tick higher so that its yield eases below 1.95% after it had been at almost 2.00% last week.DJ30 +18.45 NASDAQ +3.50 SP500 +1.78 NASDAQ Adv/Vol/Dec 1415/980 mln/1035 NYSE Adv/Vol/Dec 1755/305 mln/1155

1:00 pm : A lack of leadership has left the major equity averages mired near the neutral line for virtually the entire session. The chop comes ahead of earnings season's unofficial start.

Mixed-to-weak trade among Europe's bourses amid a meeting between officials from France and Germany seemed to dampen enthusiasm over a stronger euro, which may be off of its session high, but is still sporting a 0.4% gain against the greenback after it fell to a 16-month low last Friday.

In addition to the cautious trade of Europe, a lack of data and corporate news flow gave the major market averages little direction in the early going. They are still struggling to find it after an attempt to muster a modest gain this morning was challenged by sellers, who sent stocks into the red before the major averages managed to grind their way back to the flat line.

Listlessness among stocks has been an obvious culprit in the market's chop today. That said, there have been a few pockets of strength -- semiconductor stocks have collectively climbed to a gain greater than 1% following bullish commentary from analysts at Deutsche Bank, Inhibitex (INHX 23.75, +13.88) shares have surged almost following news that the company will be acquired by Bristol Myers Squibb (BMY 33.84, -0.38), and Dow component Alcoa (AA 9.34, +0.18) is trading markedly higher ahead of its quarterly report, which unofficially marks the start of earnings season. DJ30 +20.28 NASDAQ +3.68 SP500 +2.03 NASDAQ Adv/Vol/Dec 1415/880 mln/1010 NYSE Adv/Vol/Dec 1750/284 mln/1140

12:30 pm : Analysts at Deutsche Bank have assumed a more bullish outlook for semiconductor stocks. That has helped the Philadelphia Semiconductor Index climb in excess of 1% to trade at a new one-month high. That gain comes in the face of a broader tech sector that has traded down to a 0.2% loss today.DJ30 +18.58 NASDAQ +1.95 SP500 +1.59 NASDAQ Adv/Vol/Dec 1310/800 mln/1100 NYSE Adv/Vol/Dec 1625/255 mln/1265

12:00 pm : The stock market remains mired near the neutral line in choppy trade. Its inability to set forth on a clear path comes as a consequence of today's listlessness. The euro continues to trade with a steady gain, though.

It is currently up 0.5% against the greenback. The dollar is also down against the sterling pound, Swiss franc, and Japanese yen. DJ30 +0.38 NASDAQ -2.79 SP500 -0.66 NASDAQ Adv/Vol/Dec 1115/685 mln/1265 NYSE Adv/Vol/Dec 1430/220 mln/1425

11:30 am : Europe's major bourses are in the process of settling their latest round of trade. Action there ended on a rather weak note with many of the region's major averages down markedly, such that the EuroStoxx 50 is expected to settle with a loss of almost 1%.

As for action at home, the major U.S. averages recently slipped into the red, but they have been rather quick to stabilize. As such, losses among the major equity averages are only modest. DJ30 -12.11 NASDAQ -5.69 SP500 -1.44 NASDAQ Adv/Vol/Dec 1265/555 mln/1075 NYSE Adv/Vol/Dec 1630/180 mln/1205

11:00 am : A recent upward push by stocks has come under pressure, causing the major equity averages to return to the neutral line. Since the start of the session leadership has been lacking.

Although broad market trade remains lackluster and Alcoa (AA 9.42, +0.26) won't report earnings until after the close, shares of the Dow component are sporting strong gains as market participants prepare for that announcement. The report unofficially marks the start of earnings season. DJ30 +6.28 NASDAQ -2.32 SP500 -0.09 NASDAQ Adv/Vol/Dec 1350/460 mln/935 NYSE Adv/Vol/Dec 1740/155 mln/1060

10:35 am : The dollar index is in negative territory, which is providing price support to select commodities.

In the energy space, Feb crude oil was modestly lower in the early morning hours. Crude recovered and moved back into positive territory just over an hour ago. However, this was short-lived as crude sold-off, just after pit trade opened, to a new session low of $100.44. In current trade, crude is down -0.4% at $101.20/barrel.

Feb natural gas has been in the red all morning and fell below the $3.00 in recent activity. Currently, the energy component is back at the $3.00 mark, down 2%.

In metals, Feb gold is back in positive territory and showing modest gains, now up 0.2% at $1620.40/oz. March silver has been in positive territory this morning and just hit a new session high of $29.20/oz. in recent trade. Silver is 1.4% higher at $29.08/oz.DJ30 +34.40 NASDAQ +7.42 SP500 +3.31 NYSE Adv/Vol/Dec 2681.64/12394.32/1281.12

10:00 am : Early action remains choppy, but financials and energy stocks have managed to attract some modest buying interest, such that the two sectors are now up 0.3% and 0.2%, respectively.

Meanwhile, health care stocks have come under pressure. The sector is down 0.4%. Despite weakness in the rest of the health care space, shares of Inhibitex (INHX 24.00, +14.13) have surged almost 150% following news that the company will be acquired by Bristol Myers Squibb (BMY 33.98, -0.24). DJ30 -1.32 NASDAQ +3.20 SP500 +0.14 NASDAQ Adv/Vol/Dec 1175/135 mln/895 NYSE Adv/Vol/Dec 1520/60 mln/1100

09:45 am : Despite the modestly positive tone to premarket trade, the major equity averages are trading near the neutral line in the opening minutes of the session. The lackluster start comes amid a lack of leadership. Trade was also generally listless late last week.

Although up with a 0.4% gain, the euro has eased off of its morning high. The currency was last quoted at $1.273. DJ30 -1.89 NASDAQ +1.23 SP500 -0.18 NASDAQ Adv/Vol/Dec NA/NA/NA NYSE Adv/Vol/Dec NA/NA/NA

09:15 am : S&P futures vs fair value: +3.00. Nasdaq futures vs fair value: +8.00. Last week ended on a flat note, but the broad market still scored a 1.6% weekly gain. Stock futures currently suggest that market participants are ready to build on that gain, although only incrementally. The modestly positive tone to premarket trade comes as the euro gains some ground against the greenback after the foreign currency fell last Friday to a new 16-month low; the euro is currently up 0.6% to $1.275.

The euro's newfound strength comes in the face of lackluster action among the region's major bourses, which have failed to follow the lead of a few of Asia's major averages. Overnight action in Asia saw China's Shanghai Composite climb close to 3% and Hong Kong's Hang Seng score a 1.5% gain amid encouraging comments from leaders in China that added fodder to the belief that monetary policy there may be eased.

The only economic item on the calendar for today is the latest monthly consumer credit report, which will be posted at 3:00 PM ET. Corporate news is also limited ahead of earnings season's unofficial start, which comes with the latest quarterly report from Dow component Alcoa (AA 9.22, +0.06) after the close. Note: all ticker quotes reflect premarket prices.

09:05 am : S&P futures vs fair value: +2.30. Nasdaq futures vs fair value: +8.50. Commodities are generally mixed this morning. Specifically, oil prices are up 0.1% to $101.70 per barrel, but natural gas prices are down 2.1% to $3.03 per MMBtu. As for precious metals, gold prices are up 0.3% to $1622 per ounce, while silver prices are up 0.9% to $28.93 per ounce. In the back drop, the dollar is down 0.3% against a collection of competing currencies.

08:35 am : S&P futures vs fair value: +1.60. Nasdaq futures vs fair value: +7.50. Europe's major bourses are currently mixed, leaving the EuroStoxx 50 to trade fractionally below the neutral line, while leaders from France and Germany meet. Among the region's major national bourses, Germany's DAX is down 0.2% amid weakness in K+S AG, Commerzbank, Allianz, and Man SE. Germany did report a strong trade balance of about 16.2 billion euros for October. That far exceeded the 11.5 billion euro balance posted for the prior month. In France, the CAC is currently up 0.3% with help from Carrefour and Renault. Alcatel-Lucent (ALU 1.54, -0.02) is also providing support. However, financial outfits Societe Generale and BNP Paribas are trading with weakness. Britain's FTSE is presently down 0.2% amid weakness in GlaxoSmithKline (GSK 44.65, -1.53), Man Group Plc, and Vodafone (VOD 27.58, -0.27). Royal Bank of Scotland (RBS 6.29, +0.00) is showing some positive leadership, though.

Overnight action in Asia saw mainland China's Shanghai Composite climbed almost 3% following encouraging commentary from the country's leaders, along with expectations for more laxed monetary policy. That propelled financial plays. Hong Kong's Hang Seng rallied to a 1.5% gain. Bank of Communications, among other financial issues, were the session's top performers. Japan's Nikkei was closed for holiday observance.

Note: all ticker quotes reflect premarket prices.

08:05 am : S&P futures vs fair value: +2.00. Nasdaq futures vs fair value: +7.00. Stock futures have a narrow lead over fair value this morning, despite relatively mixed action among the major equity averages abroad. News flow is slow ahead of the latest quarterly report from Dow component Alcoa (AA 9.21, +0.05), which will unofficially kickstart earnings season after the close. Not much data is on tap for today -- the only dose comes at 3:00 PM ET, when monthly consumer credit numbers will be released. The report is expected to have little sway with market participants. Note: all ticker quotes reflect premarket prices.

06:24 am : [BRIEFING.COM] S&P futures vs fair value: -0.70. Nasdaq futures vs fair value: +1.50.

06:24 am : Nikkei...8390.35...-98.40...-1.20%. Hang Seng...18865.72...+272.70...+1.50%.

06:24 am : FTSE...5638.06...-11.30...-0.20%. DAX...6027.25...-30.40...-0.50%.

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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