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 9:08 pm

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: January 17th Tuesday 2012 Emini TF ($TF_F) points +6.40
PostPosted: Wed Jan 18, 2012 12:42 am 
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:
011712-wrbtrader-PnL-Blotter-Profit-640.png
011712-wrbtrader-PnL-Blotter-Profit-640.png [ 74.5 KiB | Viewed 253 times ]

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

Trade Performance for Today: +6.40 points or $640 dollars in the Russell 2000 Emini TF ($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=1116.

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.

Stocks End Higher On Strong Economic Data

Attachment:
011712-Key-Price-Action-Markets.png
011712-Key-Price-Action-Markets.png [ 530.03 KiB | Viewed 244 times ]

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

NEW YORK (CNNMoney) -- U.S. stocks started the week higher Tuesday, as investors welcomed several signs of improving global economic growth.

The Dow Jones industrial average (INDU) closed up 60 points, or 0.5%, the S&P 500 (SPX) rose 5 points, or 0.4%, and the Nasdaq composite (COMP) increased 17 points, or 0.6%.

The day's gains followed a trifecta of positive economic data.

China's government said the country's economy grew at an annual rate of 8.9% in the last three months of 2011, which was better than many analysts expected.

"There have been a lot of fears about global growth," said Gerry Davies, currency analyst with ForexLive.com. "A lot of people are worried the Chinese economy is slowing down. The fact that the data came out better than expected was greeted with some relief."

Investors were also encouraged by a German sentiment index that topped expectations, and by a report showing growth in New York regional manufacturing, which was largely due to new orders and employment, said Michael Sheldon, chief market strategist at RDM Financial Group.

Oil prices spiked $2.19, or 2.2%, to $100.90 a barrel. Copper also rose more than 2% Tuesday. Copper prices are seen as a key predictor of the economy, since the base metal is used to manufacture goods ranging from cars to plumbing pipes.

Financials weighed on the overall market after Citigroup (C, Fortune 500) missed earnings and reported sharp drops in revenues and profits for the fourth quarter. Citigroup's shares closed down more than 8%. Goldman Sachs, Bank of America, Morgan Stanley and JPMorgan Chase all closed down between 1% and 3%.

While investors shrugged off Standard & Poor's downgrade of nine eurozone governments and Europe's bailout fund.

Fears about Europe's debt crisis still abound. A Fitch official told Reuters Tuesday, "Greece is insolvent so it will default." Greek officials and private investors are set to resume debt talks on Wednesday.

"Investors are giving the economic data and the outlook that 'things will work out' the benefit of the doubt," said Sheldon. "But we're clearly not out of the woods, and the biggest issue is still Europe."

World markets: European stocks closed with solid gains. Britain's FTSE 100 (UKX) added 0.7%, the DAX (DAX) in Germany gained 1.8% and France's CAC 40 (CAC40) climbed 1.4%.
0:00 / 2:55 Euro downgrades have bears on the hunt

Asian markets ended higher. The Shanghai Composite (SHCOMP) soared 4.2%, the Hang Seng (HSI) in Hong Kong gained 3.2% and Japan's Nikkei (N225) climbed 1.1%.

Companies: Shares of Carnival (CCL), the company that owns the Costa Cruises luxury ship that ran aground Friday, plummeted 14%. At least 11 people died in the wreck. Carnival said Monday it expects to lose at least $85 million.

Shares of Sears (SHLD, Fortune 500) soared 9.5% amid ongoing chatter that the troubled retailer may go private. Despite the day's spike, Sears' stock remains near its 52-week low, hit earlier this month.

Goldman Sachs (GS, Fortune 500) reports its results before the market opens Wednesday, while Bank of America (BAC, Fortune 500) and Morgan Stanley (MS, Fortune 500) are scheduled to release their reports ahead of the opening bell Thursday.

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

Gold futures for February delivery rose $24.80 to $1,655.60 an ounce.

Bonds: The price on the benchmark 10-year U.S. Treasury fell, pushing the yield up to 1.86% from 1.85% late Monday.

Image

Market Update

4:30 pm : Encouraging data helped stocks set multi-month highs in the early going, but a substantial portion of the market's gains were surrendered by session's end. Participants drove stocks higher in the opening minutes of trade.

Buying interest was fostered by news that China's fourth quarter GDP climbed 8.9% from the prior year. Even though that marked a deceleration from the 9.1% annual rate posted in the prior month, it proved better than what had been anticipated by many. Retail sales and industrial production for December also posted double-digit increases over the year. Early traders also had a positive response to an upbeat economic survey from Germany and a better-than-expected Empire Manufacturing Survey of 13.5 for January.

Although the early advance took the S&P 500 above the 1300 line for the first time since this past summer, the broad market measure was unable to sustain the move. It began to waver as stocks reacted to efforts by the dollar to make up ground against the euro, which had been up nearly 1% this morning, but saw that gain halved by session's end.

After easing off of early highs stocks spent the better part of the session drifting sideways. The action seemingly allowed morning gains to consolidate, but it didn't establish much of a floor since stocks faltered in the final 90 minutes. Still, the broad market managed to hold on for a modest gain.

Financials became a drag on trade. The sector, which was the only one to log a loss, ended the day down 0.8%. An earnings miss from Citigroup (C 28.22, -2.52) and in-line results from Wells Fargo (WFC 29.83, +0.22) made for uninspiring results ahead of announcements from a bevy of financial outfits tomorrow morning.

Advancing Sectors: Health Care +0.7%, Tech +0.7%, Energy +0.7%, Materials +0.6%, Consumer Discretionary +0.5%, Consumer Staples +0.4%, Telecom +0.4%
Unchanged: Utilities
Declining Sectors: Financials -0.8%DJ30 +60.01 NASDAQ +17.41 NQ100 +0.9% R2K +0.2% SP400 +0.3% SP500 +4.58 NASDAQ Adv/Vol/Dec 1365/1.80 bln/1170 NYSE Adv/Vol/Dec 1841/810 mln/1151

3:30 pm : Commodities closed pit trade in mixed fashion after they had been bid broadly higher this morning. Still, the CRB Index scored a 1.0% gain for the session.

Oil was a leader in the commodity complex this session. The energy component closed pit trade with at 2.1% gain at $100.71 per barrel. In contrast, natural gas prices resumed their descent by falling 6.7% to close pit trade at a new multi-year low of $2.49 per MMBtu.

Precious metals had been up sharply this morning, but pulled back in conjunction with the dollar's efforts to trim its loss. Gold prices settled with a 0.4% gain at $1655 per ounce. Silver settled with a fractional loss at $30.13 per ounce. In the early going gold had been up about 2% and silver had been up about 3%. DJ30 +59.22 NASDAQ +14.50 SP500 +3.67 NASDAQ Adv/Vol/Dec 1350/1.40 bln/1160 NYSE Adv/Vol/Dec 1795/515 mln/1190

3:00 pm : Stocks have slipped out of their recent trading range to set new session lows. Broad market gains are now less than half of what they were this morning.

Financials have become a drag on trade. The sector is now off by 0.6% as weakness among heavyweight diversified financial services stocks offsets strength in shares of diversified banks. Utilities, down 0.2%, make up the only other sector in negative territory.

With financials in focus, participants are preparing for the latest quarterly results from Bank of New York (BK 21.33, -0.12), Northern Trust (NTRS 42.02, -0.15), PNC Financial (PNC 61.42, -0.31), State Street (STT 42.95, +0.01), and U.S. Bancorp (USB 28.66, -0.37), all of which are scheduled to announce numbers tomorrow morning, before the open of trade. DJ30 +67.96 NASDAQ +20.13 SP500 +5.10 NASDAQ Adv/Vol/Dec 1500/1.29 bln/1000 NYSE Adv/Vol/Dec 1980/470 mln/1010

2:30 pm : Stocks continue to grind sideways, but are consolidating gains in the process.

Financials continue to drift along narrowly above the flat line with only a fractional gain. The sector has been stuck there for nearly four hours. Its floundering comes after Citigroup (C 28.75, -1.99) threw cold water on the space by serving up a disappointing quarterly report that featured an earnings miss. This, of course, comes on top of an underwhelming report from banking bellwether JPMorgan Chase (JPM 35.10, -0.82) late last week. DJ30 +93.92 NASDAQ +26.37 SP500 +8.78 NASDAQ Adv/Vol/Dec 1605/1.15 bln/875 NYSE Adv/Vol/Dec 2145/425 mln/830

2:00 pm : Stocks have been drifting sideways for the past couple of hours. The lack of vertical movement has made for some rather unexciting action, although it is allowing recent gains to consolidate. After all, stocks set multi-month highs this morning.DJ30 +101.87 NASDAQ +27.95 SP500 +9.52 NASDAQ Adv/Vol/Dec 1605/1.07 bln/880 NYSE Adv/Vol/Dec 2140/400 mln/835

1:30 pm : Stocks are drifting along as the S&P 500 holds close to the 1300 line. It set its session high, and multi-month high for that matter, above that mark in the early going.

Treasuries have been holding up relatively well in the face of the stock market's gain, such that the benchmark 10-year Note has limited its loss to only a couple of ticks. While the yield on the benchmark 10-year Note is at about 1.87%, the yield on the 30-year Bond is at 2.89%. DJ30 +100.77 NASDAQ +27.75 SP500 +9.60 NASDAQ Adv/Vol/Dec 1590/990 mln/870 NYSE Adv/Vol/Dec 2145/375 mln/825

1:00 pm : Strong, broad-based buying at the open drove the stock market to its highest level since this summer, but support has moderated so that stocks now sit short of their session highs.

Early strength was fueled by encouraging data from abroad. Generally, China posted stronger-than-expected fourth quarter GDP, December retail sales, and December industrial production. Complementing those, Germany offered up a pleasing report on economic sentiment and the U.S. posted a better-than-expected survey on manufacturing activity in the New York area.

The broad implications of an improved economic picture helped overshadow an uninspiring round of quarterly results that featured an earnings miss from Citigroup (C 28.77, -1.97) and in-line results from Wells Fargo (WFC 30.11, +0.50). Financials were helped higher alongside the broad market in the early going, but the sector has since faltered. It now trades narrowly above the neutral line.

Tech and energy are the two strongest sectors of the session. Both are up little more than 1%.

Although stocks have traded down from their morning highs, overall gains remain solid as the S&P 500 dances along the 1300 line. Intraday action continues to come under the influence of the euro, which is up about 0.5% against the greenback after it had been up about twice that this morning. DJ30 +105.88 NASDAQ +27.72 SP500 +9.60 NASDAQ Adv/Vol/Dec 1570/905 mln/870 NYSE Adv/Vol/Dec 2100/350 mln/850

12:30 pm : A recent flurry of selling pressure has knocked stocks down a leg. There isn't any headline to account for the move, but it coincides with another slip by the euro, which now sits at $1.273 for a 0.4% gain. Commodities have also been clipped amid the action.DJ30 +118.14 NASDAQ +29.19 SP500 +10.58 NASDAQ Adv/Vol/Dec 1650/815 mln/785 NYSE Adv/Vol/Dec 2190/320 mln/760

12:00 pm : Europe's bourses recently settled their latest round of trade. Buying there was spurred by encouraging data from China, successful sovereign debt auctions, and a willingness among many to shrug off a recent round of sovereign downgrades by analysts at Standard & Poor's. Among the region's major bourses, Germany's DAX advanced 1.6%. It benefited from broad buying interest, but Infineon Tech and Thyssenkrupp were primary leaders. Britain's FTSE scored a 0.6% gain, led by the likes of Rio Tinto (RIO 56.61, +2.31) and banking plays HSBC (HBC 39.59, +0.99) and Royal Bank of Scotland (RBS 7.59, +0.23). France's CAC climbed 1.2%.

Overnight action in Asia took mainland China's Shanghai Composite to a 4.2% gain after it was learned that the country's fourth quarter GDP climbed 8.9% from the prior year. Even though that marked a deceleration from the 9.1% annual rate posted in the prior month, it proved better than what had been anticipated. Retail sales and industrial production for December also posted double-digit increases over the year. Hong Kong's Hang Seng scored a 3.2% gain. It was led higher by financials. Japan's Nikkei put together a 1.1% gain. DJ30 +117.38 NASDAQ +29.36 SP500 +10.58 NASDAQ Adv/Vol/Dec 1650/725 mln/760 NYSE Adv/Vol/Dec 2160/290 mln/775

11:30 am : Tech stocks, which make up the largest sector by market weight, are now collectively the best performers of the session. As a group, tech stocks are up 1.2%.

Applied Materials (AMAT 11.88, +0.39) is a primary leader in the tech space, thanks partly to an analyst upgrade. Symantec (SYMC 16.40, +0.53) is also showing some leadership this session. Symantec is scheduled to report quarterly results next week, but Applied Materials won't report for another month.

With tech stocks trading in such strong fashion, the tech-rich Nasdaq has managed to take a narrow lead over each of its counterparts. DJ30 +118.82 NASDAQ +29.75 SP500 +11.07 NASDAQ Adv/Vol/Dec 1585/605 mln/800 NYSE Adv/Vol/Dec 2130/250 mln/780

11:05 am : Stocks have stabilized after rolling off of their morning levels, which actually brought about the best point for the S&P 500 in more than five months. Likely of little surprise to those who keep regular tabs on the market's intraday movements, the stabilization of the market has coincided with renewed support for the euro, which is now up 0.5% on the session after it had steadily surrendered most of its early morning gain.

Although the broad market has managed to find support, financials have completely given up their morning gains. As such, the sector is sitting at the neutral line. No other sector is in such weak shape. DJ30 +110.53 NASDAQ +27.32 SP500 +9.63 NASDAQ Adv/Vol/Dec 1545/500 mln/790 NYSE Adv/Vol/Dec 2075/215 mln/830

10:35 am : The dollar index is showing weakness this morning, which is giving commodities a boost.

In the energy space, Feb crude oil has been in positive territory all session. The energy component rose as high as $100.97, but slowly drifted down back to the $100 mark over the past few of hours. In recent trade, crude is ticking higher again, now at $99.89, up 1.2%.

Feb natural gas has been in the red all session and also near its session low. Natural gas fell as low as $2.59 in the overnight session and just hit a new session low of $2.47 in recent activity. Currently, natural gas is down 6.6% at $2.49/MMBtu.

In metals, Feb gold and March silver have also shown notable strength this morning along with crude oil and are also trading near session highs. Gold hit a session high of $1668.00 and is currently trading 1.8% higher at $1659.50/oz. Silver is leading the metals this morning with gain of 3.0% at $30.42/oz.DJ30 +122.38 NASDAQ +27.03 SP500 +1.046 NASDAQ Adv/Vol/Dec 1599/439 mln/738 NYSE Adv/Vol/Dec 2143/202 mln/749

10:00 am : The euro continues to surrender its gain. It had been up about 1% against the greenback only a couple of hours ago, but now the currency trades with a moderate gain of 0.3%, or at $1.270.

With the euro at its morning low, both stocks and commodities are seeing their gains clipped. Although the broad equity market is still up nearly 1%, the CRB Commodity Index is up only about half of that amount. DJ30 +128.70 NASDAQ +26.29 SP500 +11.58 NASDAQ Adv/Vol/Dec 1760/115 mln/445 NYSE Adv/Vol/Dec 2415/95 mln/360

09:45 am : Strong, broad-based buying at the open has taken the S&P 500 above the 1300 line for the first time since this past summer.

More than half of the major sectors that make up the S&P 500 are up by 1% or more. Industrials are out in front with a 1.3% gain, thanks to leadership from Illinois Tool Works (ITW 51.70, +2.33) and United Technologies (UTX 77.98, 1.90). Consumer staples, still up 0.8%, are at the back end of the pack. DJ30 +145.84 NASDAQ +29.21 SP500 +13.64 NASDAQ Adv/Vol/Dec NA/NA/NA NYSE Adv/Vol/Dec NA/NA/NA

09:15 am : S&P futures vs fair value: +12.60. Nasdaq futures vs fair value: +23.00. Stock futures continue to trade with strength, but have eased off of their morning highs in conjunction with a recent slip by the euro, which had been up nearly 1% about an hour ago, but now leads the greenback by a more modest 0.5%. Still, strong data continue to provide premarket participants with a reason to offer a bid. Participants both at home and abroad have applauded China's fourth quarter GDP, along with the country's latest retail sales and industrial production numbers. Also, Germany posted a satisfactory reading on economic sentiment. Domestic data was limited to a better-than-expected manufacturing activity survey from the New York region. Earnings news hasn't been all that exciting -- both Citigroup (C 29.20, -1.54) and M&T Bank (MTB 81.45, -0.89) came short of the consensus earnings forecast, while Wells Fargo (WFC 29.96, +0.35) posted in-line earnings. Note: all ticker quotes reflect premarket prices.

09:05 am : S&P futures vs fair value: +13.10. Nasdaq futures vs fair value: +23.00. The positive tone this morning has helped take most commodity prices higher, resulting in a 0.7% gain for the CRB Index. Among precious metals, gold prices are up 1.8% to $1660 per ounce, while silver prices are up 2.8% to $30.35 per ounce. Meanwhile, oil prices are up 1.8% to $100.45 per barrel. However, natural gas has resumed its downtrend in the face of broad buying interest. The energy component was last quoted with a 3.9% loss at $2.61 per MMBtu.

08:35 am : S&P futures vs fair value: +16.30. Nasdaq futures vs fair value: +28.00. Stock futures continue to trade with a strong lead over fair value following today's only dose of data, which featured a better-than-expected Empire Manufacturing Survey. The Empire Manufacturing Survey improved to 13.5 for January, up from 9.5 in the prior month. The Survey had been broadly expected to make a more modest improvement to only 10.0 in January.

08:05 am : S&P futures vs fair value: +16.60. Nasdaq futures vs fair value: +30.00. Domestic markets were closed on Monday in observance of Martin Luther King Jr. Day, but re-open today for regular trading hours. The early posture of premarket trade has been decidedly positive, such that a sharply higher open is expected to put the S&P 500 at a new multi-mont high. Underpinning the bid is upbeat economic data from China, which posted fourth quarter GDP growth of 8.9%. Recent retail sales and industrial production numbers from China also proved pleasing.

Debt concerns in Europe seem to have calmed following a wave of eurozone downgrades by Standard & Poor's late last week. That has helped take down yields and, as a result, bolster buying interest among the region's major bourses. Improved sentiment has also sent the euro higher; it currently leads the greenback by about 0.9%.

Corporate news is relatively slow this morning, although participants recently got their hands on the latest quarterly report from Citigroup (C 29.90, -0.84), which posted some rather disappointing numbers. Note: ticker quotes reflect premarket prices.

Domestic data is limited today to the latest monthly Empire Manufacturing Survey, which is due at the bottom of the hour.

06:27 am : [BRIEFING.COM] S&P futures vs fair value: +16.00. Nasdaq futures vs fair value: +27.50.

06:27 am : Nikkei...8466.40...+88.00...+1.10%. Hang Seng...19267.75...+615.60...+3.20%.

06:27 am : FTSE...5705.86...+48.40...+0.90%. DAX...6329.27...+109.30...+1.80%.

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
Business Hours: 8am - 5pm est (Mon - Fri)
Skype Messenger: kebec2002
intradaystrategies@yahoo.com
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 1 guest


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