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 Post subject: January 11th Wednesday 2012 Emini TF ($TF_F) points +1.60
PostPosted: Wed Jan 11, 2012 10:29 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: +1.60 points or $160 dollars in the Russell 2000 Emini TF ($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=1112.

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

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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.

Most U.S. Stocks Rise as Bank Rally Overshadows Europe

Jan. 11 (Bloomberg) -- Bloomberg's Deborah Kostroun reports on the performance of the U.S. equity market today. Most U.S. stocks advanced, sending the Standard & Poor's 500 Index higher for a third day, as a rally in banks helped the market recover from an early slump spurred by growing signs Europe may slip into a recession.

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Market Update

4:30 pm : Another day of lackluster trade left the major equity averages to finish mixed. The lack of news flow over the past two days has many participants looking forward to a flurry of announcements tomorrow.

Losses by Europe's bourses and a weaker euro, which trailed the dollar by about 0.4% all session, hampered stocks for most of the session. Trade was also made lackluster by the absence of data and meaningful corporate announcements.

A gradual climb by financials provided a lift later in the session, helping the broad market settle at the flat line. Financials finished with a 1.0% gain, outperforming the broad market for the third straight session. Materials stocks also collectively climbed 1.0% in an extension of their prior session run.

Many solar plays soared as analysts considered the possibility of stronger demand from Germany. The group's strength helped give the Nasdaq a modest lead over its counterparts.

Energy stocks lagged all session. The sector's 1.3% loss came amid softer energy prices -- oil prices closed with a 1.2% loss at $100.96 per barrel, but natural gas prices suffered a 5.8% drop to close at $2.77 per MMBtu.

Treasuries attracted modest support. Strong demand at an auction of 10-year Notes helped. The offering drew a bid-to-cover ratio of 3.29, dollar demand of $69.1 billion, and an indirect bidder rate of 38.3%. For comparison, an average of the past six auctions results in a bid-to-cover of 3.08, dollar demand of $66.2 billion, and an indirect bidder rate of 44.0%.

The only economic release today was the Fed's Beige Book, but that is merely a collection of anecdotal information. It generally indicated that national economic activity expanded at a modest to moderate pace from late November through December.

As a consequence of the dearth of news flow participation remained limited. That made for a paltry trading volume total of less than 800 million shares on the NYSE.

Although earnings season doesn't get going in earnest until next week, market participants are looking forward to the latest European Central Bank announcement, weekly initial jobless claims, monthly retail sales, monthly business inventory numbers, and the latest Treasury Budget, all of which are due tomorrow and represent potential trading catalysts.

Advancing Sectors: Financials +1.0%, Materials +1.0%, Telecom +0.7%, Industrials, +0.3%, Tech +0.2%, Consumer Discretionary +0.1%
Unchanged: Health Care
Declining Sectors: Utilities -0.4%, Consumer Staples -0.6%, Energy -1.3%DJ30 -13.02 NASDAQ +8.26 SP500 +0.40 NASDAQ Adv/Vol/Dec 1495/1.73 bln/1016 NYSE Adv/Vol/Dec 1668/759 mln/1359

3:30 pm : The CRB Index slid to a 0.6% loss amid weakness in the energy complex. Oil prices closed with a 1.2% loss at $100.96 per barrel. Pressure that followed a bigger-than-expected build in weekly inventories eased in mid-session trade, but sellers ultimately redoubled their efforts. Natural gas prices were under sharp pressure all session; they closed at $2.77 per MMBtu for a 5.8% loss.

Precious metals made modest gains in the face of a higher dollar. Specifically, gold gained 0.4% to settle at $1639.30 per ounce while silver settled at $29.92 per ounce for a 0.3% gain. DJ30 -7.11 NASDAQ +10.88 SP500 +1.12 NASDAQ Adv/Vol/Dec 1375/1.35 bln/1130 NYSE Adv/Vol/Dec 1570/510 mln/1415

3:00 pm : Tech stocks, now up 0.2%, have helped the Nasdaq trade to a modest gain in the final hour of the session. Its counterparts remain mired in the red, however.

Share volume remains paltry. The lack of participation is a consequence of today's dearth of data and absence of meaningful corporate announcements. Although earnings season doesn't get going in earnest until next week, market participants will be served up a few key economic releases tomorrow with the release of the latest European Central Bank announcement, weekly initial jobless claims, retail sales, business inventory numbers, and the latest Treasury Budget. DJ30 -33.03 NASDAQ +6.63 SP500 -1.21 NASDAQ Adv/Vol/Dec 1365/1.24 bln/1125 NYSE Adv/Vol/Dec 1575/465 mln/1405

2:30 pm : Although the broad market remains mired in negative territory, solar stocks are having an exceptionally strong session. Shares of Suntech Power (STP 3.28, +0.72), SunPower Corp (SPWR 7.40, +0.71), and First Solar (FSLR 42.41, +3.64) are all up sharply. The primary catalyst being cited is an expected pickup in demand from Germany. Some analysts also say that the space has been oversold.DJ30 -41.89 NASDAQ +5.36 SP500 -2.08 NASDAQ Adv/Vol/Dec 1355/1.15 bln/1120 NYSE Adv/Vol/Dec 1555/430 mln/1410

2:00 pm : The S&P 500 recently attempted to cross into positive territory, but it has been unable to do so. Resistance at the flat line has caused it to slip back into the red for a narrow loss.

The Fed just released its latest Beige Book, which is a collection of anecdotal economic information. Generally, it indicated that national economic activity expanded at a modest to moderate pace from late November through December. Reports suggested ongoing improvement in economic conditions in recent months, helping consumer spending pick up in most of the Fed's dozen Districts. It was also noted that upward price pressures and price increases remained quite limited for most categories of final goods and services. DJ30 -35.61 NASDAQ +4.12 SP500 -1.46 NASDAQ Adv/Vol/Dec 1315/1 bln/1140 NYSE Adv/Vol/Dec 1480/375 mln/1475

1:30 pm : Results from an auction of 10-year Notes were released at 1:00 PM ET. The auction saw strong, but not overwhelming demand. Still, Treasuries have ticked higher in response. That has taken the yield on the benchmark 10-year Note a little bit closer to 1.90%.

The auction drew a bid-to-cover ratio of 3.29, dollar demand of $69.1 billion, and an indirect bidder rate of 38.3%. For comparison, the prior auction drew a bid-to-cover of 3.53, dollar demand of $74.1 billion, and an indirect bidder rate of 61.9%. An average of the past six auctions results in a bid-to-cover of 3.08, dollar demand of $66.2 billion, and an indirect bidder rate of 44.0%. DJ30 -31.29 NASDAQ +5.32 SP500 -1.10 NASDAQ Adv/Vol/Dec 1315/925 mln/1120 NYSE Adv/Vol/Dec 1465/345 mln/1480

1:00 pm : The stock market has spent the entire session chopping along with a modest loss. The lackluster action comes as a consequence of general listlessness.

Early traders took their cues from Europe, where sentiment seemed to weaken ahead of the European Central Bank announcement on Thursday. Europe's major bourses all traded markedly lower before settling with modest losses. Meanwhile, the euro has been down against the dollar all day; it was last quoted with a 0.5% loss at $1.270.

Without any data or corporate announcements of consequence to shake things up, stocks have remained mired in negative territory, although only narrowly beneath the neutral line.

Collectively, energy stocks have weighed heavily on the broad market. The group's 1.5% loss makes Energy the worst performing sector in the broad market. Oil exploration and drilling issues remain under stiff pressure, even though oil prices have slashed their loss to just 0.3% after they fell in excess of 1% lower following a surprisingly big build in weekly inventories. Natural gas prices are still down almost 6%.

Financials have gradually garnered support. The sector was down markedly in the early going, but now trades with a 0.4% gain. Meanwhile, materials stocks have overcome an early loss to trade with a 0.7% gain. The two sectors were the top performers in the prior session.

With the broad market stuck in listless trade Treasuries have ticked higher today. Fixed income traders await results from an auction of 10-year Notes that are due at any moment.

Coming up at 2:00 PM ET is the Fed's latest Beige Book, which is a collection of anecdotal economic data. DJ30 -39.51 NASDAQ +3.52 SP500 -2.09 NASDAQ Adv/Vol/Dec 1265/845 mln/1145 NYSE Adv/Vol/Dec 1420/320 mln/1510

12:30 pm : Treasuries are trading with modest gains as the stock market muddles along in listless fashion. Fixed income traders await results from an auction of 10-year Notes that are due at the top of the hour. Strong demand at the auction of 3-year Notes yesterday set a high bar for today's offering.DJ30 -46.62 NASDAQ +1.69 SP500 -3.36 NASDAQ Adv/Vol/Dec 1220/765 mln/1180 NYSE Adv/Vol/Dec 1345/290 mln/1565

12:00 pm : Stocks continue to chop along without any real direction. The lack of leadership has left both the Dow and the S&P 500 stuck in negative territory, wrestling with modest losses. The Nasdaq has had a better showing, but it has struggled to make any kind of a meaningful move beyond the neutral line -- Cisco (CSCO 19.05, +0.22) has been a primary source of support for the tech-rich Nasdaq.DJ30 -47.60 NASDAQ +0.18 SP500 -3.92 NASDAQ Adv/Vol/Dec 1140/670 mln/1220 NYSE Adv/Vol/Dec 1300/255 mln/1600

11:30 am : Energy stocks have steadied since setting a session low shortly ago. The sector is still contending with a 1.5% loss, however. Energy-related plays have actually been under pressure since the start of the session. Many participants have been particularly reluctant to hold shares of oil and gas exploration and drilling players with oil and gas prices retreating today -- oil prices may be off of their lows, but they are still down 0.9%, while natural gas contends with a loss in excess of 5%.DJ30 -51.54 NASDAQ -0.58 SP500 -3.99 NASDAQ Adv/Vol/Dec 990/565 mln/1340 NYSE Adv/Vol/Dec 1135/220 mln/1725

11:00 am : The Nasdaq recently poked into positive territory, but its inability to sustain the move has left it to recede back to the neutral line. The attempt to trade higher came in conjunction with a recent jump by tech stocks, but they, too, have been unable to muster enough upward momentum to maintain gains.

Meanwhile, financials are up fractionally after the sector had traded with moderate weakness in the early going. Financials outperformed in each of the past two sessions. DJ30 -39.85 NASDAQ +1.14 SP500 -3.50 NASDAQ Adv/Vol/Dec 1040/430 mln/1225 NYSE Adv/Vol/Dec 1245/175 mln/1590

10:35 am : Oil prices were down about 1% in the minutes that preceded weekly inventory data. Word that inventories increased by 4.96 million barrels, which exceeds the consensus call for a build of 1.0 million barrels, has caused prices to extend their slide. Oil futures prices now trade at $100.70 per barrel for a 1.5% loss.

Natural gas prices continue to wrestle with aggressive selling pressure. The energy component was last quoted at $2.82 per MMBtu, which makes for a 5.0% loss.

Precious metals are performing better, but their gains aren't exactly robust. Specifically, gold prices are up 0.4% to $1638 per ounce, while silver trades with a fractional gain at $29.83 per ounce. DJ30 -35.57 NASDAQ -0.83 SP500 -3.37 NASDAQ Adv/Vol/Dec 820/315 mln/1395 NYSE Adv/Vol/Dec 1005/135 mln/1780

10:00 am : A lack of leadership in early trade has made for some rather choppy action. It has also kept the major equity averages mired in negative territory with modest losses.

The euro has come under increased pressure in the past few minutes. That has taken the currency to a morning low of about $1.267, which makes for a loss of little more than 0.6%.

With the euro on the slide the dollar has ticked up so that it now leads a basket of major foreign currencies by 0.7%. Gains by the greenback have put added pressure on oil prices, which are now down 1.2% to $101.00 per barrel ahead of the weekly oil inventory report at the bottom of the hour. DJ30 -50.37 NASDAQ -7.10 SP500 -4.89 NASDAQ Adv/Vol/Dec 760/113 mln/1300 NYSE Adv/Vol/Dec 900/70 mln/1765

09:45 am : The major equity averages are down modestly this morning. Every sector except telecom (+0.2%) is either flat or in negative territory.

Energy stocks are under the most pressure this morning. The sector is presently down almost 1%. Lower oil prices and natural gas prices certainly haven't helped the sector's prospects this morning. The two commodities were last quoted with losses of 0.8% and 3.9%, respectively. DJ30 -41.36 NASDAQ -1.15 SP500 -3.28 NASDAQ Adv/Vol/Dec NA/NA/NA NYSE Adv/Vol/Dec NA/NA/NA

09:15 am : S&P futures vs fair value: -4.10. Nasdaq futures vs fair value: -3.50. The stock market booked a multi-month closing high yesterday, but broad market futures point to a modestly lower start for today's session. The relatively defensive posture comes as sentiment in Europe weakens, resulting in losses for the region's major bourses and a decline by the euro, which was last quoted with 0.4% lower at $1.270. Many of Europe's participants are positioning their portfolios for the European Central Bank announcement tomorrow. Domestic traders have been given few other cues for trade -- earnings announcements remain sparse and without significance and there won't be any economic information available until the release of the Fed's latest Beige Book at 2:00 PM ET.

09:05 am : S&P futures vs fair value: -4.50. Nasdaq futures vs fair value: -4.80. The CRB Commodities Index is down 0.5% as natural gas prices extend their downward trend by falling another 4% to $2.83 per MMBtu. Meanwhile, oil futures prices are down 0.9% to $101.35 per barrel ahead of weekly inventory numbers at 10:30 AM ET. Precious metals are more mixed with gold prices up 0.4% to $1637.50 per ounce and silver prices down 0.6% to $29.65 per ounce.

08:35 am : S&P futures vs fair value: -6.20. Nasdaq futures vs fair value: -6.30. Europe's major bourses are down with varied losses ahead of the latest European Central Bank announcement, which is scheduled for Thursday. Germany's DAX is currently down 0.5%. Metro AG is among the heavier drags; its weakness is primarily owed to negative analyst commentary. Infineon Tech is providing some support, however. Action in France has taken the CAC down to a 0.4% loss. Energy giant Total (TOT 50.36, -1.15) has been a considerable drag on broad market action there. Strength in Alcatel-Lucent (ALU 1.70, +0.08) has helped offset some of that weakness, however. In Britain, the FTSE has fallen to a 0.8% loss. Unilever (UL 32.00, -1.33) and Man Group Plc have been heavy drags, but their burden has been partly counterbalanced by heady gains by Lloyds Group (LYG 1.67, +0.00) and Royal Bank of Scotland (RBS 6.61, +0.00).

Overnight action in Asia was mostly mixed. Among the region's major averages, Japan's Nikkei booked a 0.3% gain. Nomura (NMR 3.27, +0.00) was a top performer; it climbed in excess of 3%. Tokyo Electric Power pulled back sharply after it had surged ahead in the prior session. Hong Kong's Hang Seng settled with a 0.8% gain. Metals plays were strong. As such, Aluminum Corp of China put together an impressive gain greater than 2%. However, shares of the company slipped in mainland China's Shanghai Composite, which closed with a 0.4% loss.

Note: all ticker quotes reflect premarket prices.

08:05 am : S&P futures vs fair value: -3.30. Nasdaq futures vs fair value: -2.80. Stock futures scored multi-month highs in the prior session, but buying interest has cooled ahead of today's open. Many premarket participants are taking their cues from Europe, where the euro and the region's major bourses are on the decline ahead of the latest European Central Bank announcement tomorrow. Earnings announcements remain limited both in quantity and significance; they don't really get going in earnest until next week. There's little else to fill today's calendar. Oil inventory numbers due at 10:30 AM ET. The latest series of Treasury offerings continues with results from an auction of 10-year Notes due at 1:00 PM ET. The Beige Book, a collection of anecdotal economic data, will be posted at 2:00 PM ET.

06:12 am : [BRIEFING.COM] S&P futures vs fair value: -1.00. Nasdaq futures vs fair value: flat.

06:12 am : Nikkei...8447.88...+25.60...+0.30%. Hang Seng...19151.94...+147.70...+0.80%.

06:12 am : FTSE...5679.79...-16.90...-0.30%. DAX...6150.94...-12.00...-0.20%.

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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