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 Post subject: January 23rd Monday 2012 Emini TF ($TF_F) points +7.50
PostPosted: Tue Jan 24, 2012 2:46 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: +7.50 points or $750 dollars in the Russell 2000 Emini TF ($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=1120.

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.

S&P 500 Caps Longest Advance Since December on Energy

Jan. 23 (Bloomberg) -- Bloomberg's Cali Carlin reports on the performance of the U.S. equity market today. The Standard & Poor's 500 Index rose for a fifth day, capping its longest rally since December, as energy and bank shares advanced and investors weighed developments in Europe's efforts to tame its debt crisis.

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Market Update

4:30 pm : Things looked bullish in the early going, but a mid-morning reversal left stocks to spend the rest of the session slowly working their way back to the flat line.

Trade today opened on a flat note, but stocks were quickly bid up to a solid gain that resulted in a new multi-month high. However, stocks were unable to sustain the move, even as the euro displayed considerable strength.

The euro sported an impressive lead over the greenback for the entire session. The currency's climb to a near three-week high above $1.30 came amid heightened anticipation for revised measures to prevent a default by Greece. Although no new details were officially released, some speculate that Greece won't be getting any more money from the International Monetary Fund or the Eurozone.

Chatter related to the latter matter coincided with the stock market's pullback, possibly reflecting a mix of frustration and disappointment related to the drawn out process of shoring up conditions in Greece.

Early leaders, tech and financials were caught up in the stock market's slide. Both sectors were up about 1% at their session highs, but each retreated into the red alongside the broad market. They eventually fought back to book modest gains, but neither displayed the same leadership as what was exhibited shortly after the open.

End results were mostly mixed as defensive-oriented telecom traded down to a 0.8% loss and health care fell 0.5%, but utilities mustered a 0.3% gain. Consumer staples stocks slipped 0.2%, which is actually on par with the 0.2% loss and 0.3% loss that cyclical sectors like consumer discretionary and industrials shed, respectively.

No economic data was released today and only a dearth of earnings announcements was made ahead of the open. Halliburton (HAL 35.44, -0.76) was the most widely held name in the handful of companies that announced. Although the oil and gas services play posted an upside earnings surprise, its shares still wrestled with selling pressure all session, even as the rest of the energy sector worked its way to a 0.7% gain, which is bettter than what any other group achieved.

Share volume was paltry once again, barely coming close to 1 billion on the NYSE Big Board. Although it is easy to blame the lack of participation on the absence of news flow and economic data, apathy has been a recurring theme for a few months.

Advancing Sectors: Energy +0.7%, Tech +0.4%, Financials +0.3%, Utilities +0.3%
Declining Sectors: Telecom -0.8%, Health Care -0.5%, Industrials -0.3%, Consumer Staples -0.2%, Consumer Discretionary -0.2%, Materials -0.1% DJ30 -11.66 NASDAQ -2.53 NQ100 +0.00% R2K -0.2% SP400 +0.00% SP500 +0.62 NASDAQ Adv/Vol/Dec 1110/1.68 bln/1350 NYSE Adv/Vol/Dec 1756/723 mln/1259

3:30 pm : Commodities scored strong gains this session, resulting in a 1.2% gain for the CRB Index.

Natural gas was a standout as it snapped its losing streak. It surged 7.7% to close at $2.53 per MMBtu, but had actually been up more than 10% ahead of the open of pit trade. Meanwhile, oil prices pushed up to $99.72 per barrel for a 1.5% gain.

Silver scored itself a 2.0% gain by closing pit trade at $32.37 per ounce. Gold gained 0.9% to close at $1663.70 per ounce. DJ30 -5.34 NASDAQ -3.24 SP500 +1.24 NASDAQ Adv/Vol/Dec 1065/1.34 bln/1400 NYSE Adv/Vol/Dec 1700/480 mln/1280

3:00 pm : Action has turned choppy in recent trade. Stocks still haven't returned to positive territory, though.

Share volume on the NYSE continues to accumulate at a sluggish pace, reflecting a lack of participation. Even with only an hour to go before session's end less than a half billion shares have traded hands today. Although it might be easy to blame the lack of trade on the dearth of headlines today, apathy has been a regular and recurring theme in recent weeks. DJ30 -15.29 NASDAQ -4.20 SP500 -0.45 NASDAQ Adv/Vol/Dec 985/1.25 bln/1480 NYSE Adv/Vol/Dec 1625/445 mln/1365

2:30 pm : The S&P 500 has paused just below the flat line, leaving it to trade with a fractional loss. The broad market measure is near the midpoint of today's trading range, which went as high as 1222 and as low as 1210.

Although stocks are having trouble finding positive territory, Treasuries are trading with weakness. That has the yield on the benchmark 10-year Note up to a new one-month high of 2.08%. DJ30 -17.87 NASDAQ -3.57 SP500 -0.53 NASDAQ Adv/Vol/Dec 1035/1.16 bln/1420 NYSE Adv/Vol/Dec 1650/410 mln/1305

2:00 pm : The broad market is slowly working its way back to the neutral line, but financials, which were early leaders, remain mired in negative territory with a fractional loss. Weakness among financials comes even though many European bank shares have been bid higher in conjunction with calls from leaders in France and Germany to relax capital requirements on banks.DJ30 -18.77 NASDAQ -2.87 SP500 -0.57 NASDAQ Adv/Vol/Dec 1020/1.08 bln/1425 NYSE Adv/Vol/Dec 1650/380 mln/1290

1:30 pm : Although the broad market is attempting a gradual climb up from session lows, telecom stocks continue to contend with stiff selling pressure. In fact, the sector remains stuck at its session low with a 1.0% loss. Collectively, telecom stocks make up this session's poorest performers. The sector's slide this session completely reverses the 1.0% gain that the group accumulated during trade last week.DJ30 -32.89 NASDAQ -7.79 SP500 -2.11 NASDAQ Adv/Vol/Dec 970/1.02 bln/1470 NYSE Adv/Vol/Dec 1580/350 mln/1360

1:00 pm : Leadership from tech and financial issues lifted the broad market in the early going, but participants have since soured on stocks, leaving them to slide to modest losses.

Trade opened on a flat note, but buyers were quick to step in. Their efforts focused on cyclical plays, especially tech stocks and financials. Both sectors bounded to gains of about 1%, but both became ensnared in a broad market downturn that has left all three major equity averages in negative territory. Despite the downturn, many European bank stocks are still sporting gains because of calls from France and Germany to reduce capital requirements on their banks.

In contrast to recent weeks the stock market is trading without a positive correlation to the euro, which is up 1.0% to $1.30, or just shy of the three-week high that it set earlier this session. Plans expected to help prevent a default by Greece have helped hike the euro today.

With the euro up and the dollar down, oil prices have had an easier time trading higher. The energy component was last quoted at $99.80 per barrel, which makes for a 1.5% gain. Meanwhile, natural gas prices have spiked 6.5% to $2.55 per MMBtu.

The bounce by oil and gas prices has helped provide support for the energy sector. Energy stocks are collectively up 0.5%, which makes them the best performing sector of the session. Not every energy play has been a strong performer, though. Halliburton (HAL 35.10, -1.10) has been under pressure all session as market participants opt to sell the stock after the outfit posted better-than-expected results for both its top and bottom line.

Only a few other companies made quarterly announcements this morning, but the pace will pick up after the close. DJ30 -40.00 NASDAQ -10.08 SP500 -3.27 NASDAQ Adv/Vol/Dec 930/935 mln/1495 NYSE Adv/Vol/Dec 1525/318 mln/1390

12:30 pm : Stocks have stabilized after falling into negative territory. Energy, up just 0.2% as a group, makes up the only major sector still in positive territory.

Strength in the energy sector is being helped by higher energy prices. Specifically, oil prices are sporting a 1.1% gain at $99.40 per barrel, while natural gas trades with a 5.8% gain at $2.53 per MMBtu. DJ30 -38.79 NASDAQ -11.61 SP500 -3.53 NASDAQ Adv/Vol/Dec 860/845 mln/1560 NYSE Adv/Vol/Dec 1445/290 mln/1455

12:00 pm : The major equity averages have fallen into negative territory. The drop comes as an extension of the stock market's slide that started about 90 minutes ago.

Tech stocks had been a source of leadership in the early going, but the sector now trades with a 0.1% loss. Financials have fallen even harder; they were up nearly 1% this morning, but selling pressure has sent the sector to a 0.2% loss. The two sectors are generally regarded as the most influential for broad market trade. DJ30 -29.68 NASDAQ -7.93 SP500 -2.25 NASDAQ Adv/Vol/Dec 1045/730 mln/1325 NYSE Adv/Vol/Dec 1700/250 mln/1180

11:30 am : Stocks have extended their slide so that all three major equity averages are now sitting only narrowly above the neutral line.

Energy plays are still sporting impressive gains, though. The sector is up 0.7%, more than any other group, as shares of oil and gas exploration plays push higher. However, oilfield services play Halliburton (HAL 35.07, -1.13) has been battling concerted selling pressure all session even though its latest quarterly report featured better-than-expected results for both the top and bottom lines. DJ30 +0.41 NASDAQ +2.67 SP500 +1.56 NASDAQ Adv/Vol/Dec 1175/612 mln/1175 NYSE Adv/Vol/Dec 1890/210 mln/970

11:00 am : Stocks recently turned lower after failing to extend their opening climb. Financials and tech issues had been a source of leadership, but strength in the two sectors has been checked in recent trade.

The stock market's slip comes even though the euro has continued to climb against the greenback. The euro is now up 1.3% to $1.305, which makes for its best level in nearly three weeks. DJ30 +18.61 NASDAQ +9.51 SP500 +3.94 NASDAQ Adv/Vol/Dec 1325/450 mln/935 NYSE Adv/Vol/Dec 2100/165 mln/720

10:35 am : The dollar index is weak this morning, which is creating some price support in the commodities space.

In the energy space, Feb natural gas surged about 10% earlier this morning, which followed news of a production cut from CHK, who is the second-largest producer of natural gas in the U.S. CHK announced that it would immediately curtail approximately 0.5 billion cubic feet (bcf) per day, or 8%, of its current operated gross gas production of 6.3 bcf per day, which is about 9% of the nation's natural gas production. In current trade, nat gas is up 3.1% at $2.41/MMBtu.

Feb crude oil is showing notable strength this morning as well and just hit a new session high of $99.80/barrel. It's displayed a rather steady uptrend all session and is currently up 1.2% at $99.54/barrel.

In metals, Feb gold and March silver have been in positive territory all session and are recently rallied again. Silver crossed back above the $32 level and gold is back near its earlier session high of $1677.90. Gold is now 0.7% higher at $1675.50/oz and silver is 2.2% at $32.39/oz.DJ30 +24.55 NASDAQ +10.73 SP500 +1.60 NASDAQ Adv/Vol/Dec 1316/454 mln/956 NYSE Adv/Vol/Dec 2100/166 mln/735

10:00 am : Stocks have extended their opening advance, but overall gains remain modest.

Financials have run ahead to a more impressive gain of almost 1%. Tech stocks aren't far behind as they trade with a 0.7% gain. The two groups, which are generally among the most influential, are outperforming every other major sector. Among financial plays, diversified financial services stocks are displaying leadership. Meanwhile, tech is being helped along by computer hardware plays. DJ30 +3829 NASDAQ +13.54 SP500 +5.49 NASDAQ Adv/Vol/Dec 1050/120 mln/980 NYSE Adv/Vol/Dec 1675/65 mln/935

09:45 am : Stocks have pushed higher in the opening minutes of trade, but overall gains are only modest.

Defensive-oriented issues have failed to participate in the market's early bounce. As such, health care stocks are stuck near the neutral line, while telecom trades with a 0.1% loss and consumer staples stocks contend with a 0.3% loss. DJ30 +15.62 NASDAQ +8.70 SP500 +3.65 NASDAQ Adv/Vol/Dec NA/NA/NA NYSE Adv/Vol/Dec NA/NA/NA

09:15 am : S&P futures vs fair value: flat. Nasdaq futures vs fair value: +2.50. Stock futures point to a flat start for the new week. Without any data and only a dearth of earnings announcements at hand, most morning traders are keeping a watchful eye on Europe, where officials are expected to announce revised plans intended to prevent a default by Greece. Europe's bourses are generally up with solid gains ahead of any such announcement, but calls from France and Germany for easier capital requirements have made many bank shares bound to bigger gains. Meanwhile, the euro is sporting a 1.1% gain at $1.303.

09:05 am : S&P futures vs fair value: +0.30. Nasdaq futures vs fair value: +3.00. Commodities are being bid higher this morning, but buying interest is varied among a handful of them. Natural gas prices are currently sporting the strongest gains. Futures prices in the continuous contract are currently up 5.4% to $2.52 per MMBtu. Earlier in electronic trade they had been up to almost $2.60 per MMBtu. Elsewhere in the energy complex, oil prices are up 1.0% to $99.30 per barrel. As for precious metals, gold and silver prices are up 0.2% to $1668 per ounce and up 1.4% to $32.13 per ounce, respectively. In the backdrop, the dollar is currently down about 0.5% against a collection of competing currencies.

08:35 am : S&P futures vs fair value: -0.40. Nasdaq futures vs fair value: +2.50. Trade in Europe is generally upbeat, given the solid gains currently on display by the region's major bourses. Additionally, the euro has rallied 1.0% against the greenback so that the currency now trades at $1.301 as many await what are expected to be terms of a restructured plan intended to save Greece from default. Meanwhile, leaders in both Germany and France have reportedly called for easier bank capital rules. Germany's DAX has advanced to a 0.4% gain. Commerzbank has bounded to build on the big bounce that it already booked this past Friday. Deutsche Bank (DB 43.67, +1.17) is following its lead again. Further perpetuating the positive tone of trade in Germany, the country recently held another debt offering that was met with satisfactory demand. Banks in Britain have also bounced, helping to lead the FTSE to a 0.8% gain. Royal Bank of Scotland (RBS 8.59, +0.00) and Lloyds Group (LYG 1.98, +0.00) are primary leaders there. France's CAC has climbed to a 0.4% gain amid broad-based support. Financial outfits Societe Generale and Credit Agricole are atop the list of leaders.

Overnight action in Asia was limited since trade in China is closed for holiday observance. However, Japan's Nikkei eked out a 0.1% gain with help from the consumer electronic plays like Olympus, Toshiba, and Sony (SNE 18.44, +0.59) and financial plays like Shinsei Bank and Mizuho Financial (MFG 2.98, +0.00). As for the yen, it currently trades at 76.9 yen per dollar, essentially unchanged for the session.

Note: all ticker quotes reflect premarket prices.

08:05 am : S&P futures vs fair value: +1.00. Nasdaq futures vs fair value: +5.50. Stock futures are getting only a modicum of support following three consecutive weekly climbs for the broad market. Amid slow news flow some premarket participants are taking cues from Europe, where the region's bourses are sporting solid gains in the wake of a successful debt auction by Germany. Meanwhile, the euro is up more than 1% against the greenback. Only a handful of earnings announcements have been made this morning. Among them, though, is a bottom line beat by Halliburton (HAL 35.94, -0.26). The flow of announcements will pick up after the close and really get going in earnest tomorrow. There are no economic items on the calendar for today or tomorrow. Note: ticker quotes reflect premarket prices.

06:44 am : [BRIEFING.COM] S&P futures vs fair value: +2.00. Nasdaq futures vs fair value: +7.00.

06:44 am : Nikkei...8765.90...-0.50...0.00. Hang Seng...Holiday.........

06:44 am : FTSE...5774.15...+45.60...+0.80%. DAX...6443.90...+39.50...+0.60%.

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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