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 Post subject: January 30th Monday 2012 Emini TF ($TF_F) points -1.40
PostPosted: Mon Jan 30, 2012 11:06 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)

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

Price Action Trade Performance for Today: -1.40 points or ($140) dollars in the Russell 2000 Emini TF ($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=1127.

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 price action 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 price action 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.

U.S. Stocks Decline Amid Concern About Greek Debt Talks

Jan. 30 (Bloomberg) -- Bloomberg's Pimm Fox and Deborah Kostroun report on the performance of the U.S. equity market today. U.S. stocks fell, sending the Standard & Poor's 500 Index lower for a third day, as European leaders sparred with Greece over a second rescue program.

Stocks Trim Losses, But End In Red On Greek Woes

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

NEW YORK (CNNMoney) -- U.S. stocks recovered most of their lost ground Monday afternoon but struggled to pull out of the red as concerns over Greece continued to weigh on the market.

Stocks started the day down about 1% after the weekend came and went without Greek leaders reaching an agreement on a debt-relief deal. But as the trading session wore on, the major indexes trimmed most of those losses.

The Dow Jones industrial average (INDU) finished 7 points lower, or 0.1%. Earlier, the blue chip index had declined 131 points. The S&P 500 (SPX) lost 3 points, or 0.3%, and the Nasdaq (COMP) slumped 5 points, or 0.2%.

Financial stocks were among the worst performing stocks Monday, with Bank of America (BAC, Fortune 500) the biggest decliner on the Dow. Citigroup (C, Fortune 500), Wells Fargo (WFC, Fortune 500) and Goldman Sachs (GS, Fortune 500) were all down between 1% and 2%.

Stocks pared their losses as investors hope that European Union leaders, gathered in Brussels for their first summit of the year, will announce good news following their meeting.

Prior to any formal statements, Swedish prime minister Fredrik Reinfeldt told CNN that 25 of 27 European Union members have signed on to a fiscal compact aimed at strengthening budgetary discipline and deepening political ties to avoid a repeat European debt crisis. He noted that the Czech Republic cannot sign on yet (due to political obstacles), and U.K. Prime Minster David Cameron has already refused.

Investors are also looking for leaders to back a treaty to speed up implementation of the European Stability Mechanism, a move designed to strengthen the region's financial firewall.

Despite hopes for progress in Europe, investors remained concerned about the lack of an agreement in Greece. Greek officials finished the weekend without a deal with private-sector creditors. Without such a deal, the country jeopardizes its access to bailout funds and might not be able to make a €14 billion debt payment that's due March 20.

* Euro: Putting lipstick on the PIIGS

"As long as there is an unresolved issue as its relates to Greece and Europe overall in the background, investors can't move too far forward," said Dave Hinnenkamp, CEO of KDV Wealth Management. "The market has been focusing on the domestic news, but the impact of that is starting to fade and the background is shining through again."

* EU summit: Still searching for a solution

The difficult debt negotiations in Greece have revived concerns about a default, and investors are also growing worried about Portugal, where borrowing costs continue to soar.

U.S. stocks ended mostly lower Friday as jittery investors digested the weaker-than-expected GDP report, and Europe's crisis loomed in the background.

* Video - BofA CEO: Our strategy is working

World markets: European stocks closed lower. Britain's FTSE 100 (UKX) fell 1.1%, the DAX (DAX) in Germany dropped 1% and France's CAC 40 (CAC40) lost 1.6%.
Greek anxiety drags down world markets

Asian markets ended lower. Shanghai re-opened after a weeklong break for Lunar New Year, and the Shanghai Composite (SHCOMP) closed down 1.5%. The Hang Seng (HSI) in Hong Kong fell 1.7%, and Japan's Nikkei (N225) slumped 0.5%.

Economy: Personal income ticked up 0.5% in December, while spending remained flat, the Commerce Department reported Monday.

Meanwhile, the personal consumption expenditures price index -- a measure of inflation preferred by the Federal Reserve -- showed prices, excluding energy and food, rose 0.2% in December, up from a 0.1% gain in November.

Companies: Shares of Pep Boys (PBY) popped more than 23% after the auto parts chain agreed to be taken private for $791 million by investment firm The Gores Group.

Wendy's (WEN) shares fell after the fast-food chain reported earnings per share of one cent, the same as the year-ago quarter.

Buzz continued to swirl over a possible Facebook IPO after the Wall Street Journal reported Friday that the filing could come as early as this Wednesday. The Global X Social Media ETF (SOCL), which includes Groupon (GRPN), LinkedIn (LNKD), Pandora (P), and Zynga (ZNGA), moved higher.

Shares of Carnival Corp. (CCL) -- owner of the ill-fated Costa Concordia -- declined after the cruise-ship operator updated its earnings outlook, saying it expected a decrease of 48 to 51 cents a share for the year.

* Video - The Facebook ripple effect

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

Oil for March delivery slipped 78 cents to settle at $98.78 a barrel.

Gold futures for April delivery fell $1.00 to settle at $1,734.40 an ounce.

Bonds: The price on the benchmark 10-year U.S. Treasury rose, pushing the yield down to 1.84% from 1.90% late Friday.

Image

Market Update

4:30 pm : The stock market managed to fight back from an early sell-off, but it still logged its third straight loss.

Early action was decidedly weak as market participants responded to sizable losses abroad and ongoing concerns related to Greece's inability to reach a compromise with its creditors. Greece's struggles come as Europe's leaders gather again to discuss and finalize bailout plans.

Limited in both scope and quality, earnings reports did nothing to improve the mood among morning participants. In a similar vein, news that Pep Boys (PBY 14.93, +2.85) will be bought by Gores Group for $15 per share, which represents a premium of about 24% over the stock's closing price last week, made hardly a ripple in the broad market.

Economic data was limited to a 0.5% increase in personal income and no change in personal spending during December. Economists polled by Briefing.com had expected, on average, that income would increase by 0.4% and that spending would increase by 0.1%. However, core personal consumption expenditures increased by 0.2% during December, just as many had expected.

Amid the negativity of early trade the S&P 500 was quickly dropped for a loss of roughly 1%. That positioned the broad market measure for its poorest performance in more than a month, but support at the 1300 line helped stocks stage a steady rebound. The climb lost momentum as both the Nasdaq and the Dow struggled to extend their advance into positive territory, but stocks still settled well above their session lows.

Financials failed to participate in the stock market's rebound. Instead, the sector suffered a 1.0% loss, which makes it the poorest performing sector of the session. In contrast, tech stocks traded up to a 0.3% gain. Still, that wasn't as impressive as the 0.6% advance booked by telecom stocks after many of them had ended Friday at their weekly lows.

Although most stocks were able to improve their positions by day's end, traditional safe havens like the dollar traded with strength all session. The greenback eased off of its morning high, but still maintained a gain of about 0.5% against a basket of major foreign currencies througout the rest of the day. Meanwhile, buying among Treasuries took the benchmark 10-year Note up enough to trim its yield to a one-month low beneath 1.85%.

Advancing Sectors: Telecom +0.6%, Tech +0.3%
Unchanged: Materials
Declining Sectors: Health Care -0.1%, Consumer Discretionary -0.2%, Industrials -0.4%, Energy -0.4%, Consumer Staples -0.5%, Utilities -0.5%, Financials -1.0%DJ30 -6.74 NASDAQ -4.61 NQ100 +0.1% R2K -0.8% SP400 -0.5% SP500 -3.32 NASDAQ Adv/Vol/Dec 860/1.65/1670 NYSE Adv/Vol/Dec 1103/744 mln/1876

3:30 pm : Most widely watched commodities were clipped today. That left the CRB Index to suffer a 1.2% loss. Among the CRB's primary components, oil prices fell 0.7% to settle pit trade at $98.76 per barrel, but natural gas suffered a 1.8% loss by settling at $2.71 per MMBtu.

As for silver and gold, the two precious metals finished with a 0.6% loss at $33.53 per ounce and at $1731.10 per ounce with a 0.1% loss, respectively. DJ30 -21.35 NASDAQ -5.86 SP500 -4.35 NASDAQ Adv/Vol/Dec 920/1.32 bln/1580 NYSE Adv/Vol/Dec 1125/490 mln/1850

3:00 pm : Stocks have slipped since recently setting session highs. Although that means that they remain mired in the red, the major averages are still well above their session lows. Still, any sort of loss would mark the stock market's third straight slide.

With only an hour of trade to go, some participants are preparing for the next round of earnings reports. There aren't that many scheduled for after the close (analysts at Briefing.com will cover about 20), but tomorrow morning brings a longer list that features the likes of Exxon Mobil (XOM 84.99, -0.84), Eli Lilly (LLY 39.26, +0.06), Pfizer (PFE 21.50, +0.02), and UPS (UPS 76.15, +0.11). DJ30 -17.75 NASDAQ -3.94 SP500 -4.08 NASDAQ Adv/Vol/Dec 945/1.18 bln/1555 NYSE Adv/Vol/Dec 1145/440 mln/1815

2:30 pm : The Nasdaq remains fractionally beneath the neutral line as it attempts to trade higher. Both the S&P 500 and the Dow still have a ways to go before they can challenge the line between gains and losses.

Financials continue to weigh on the broad market. The sector, still down about 1%, remains the worst performing sector of the session. In contrast, tech stocks, which collectively make up the largest sector by weight, are up 0.3% as a group. Their gains come second only to the telecom sector's 0.5% gain. DJ30 -21.46 NASDAQ -1.60 SP500 -3.75 NASDAQ Adv/Vol/Dec 865/1.09 bln/1620 NYSE Adv/Vol/Dec 1005/405 mln/1930

2:00 pm : Stocks have extended their upturn in recent trade. The effort has dashed the losses of the major equity averages, putting them at fresh session highs.

Between the Dow, S&P 500, and the Nasdaq Composite, the Nasdaq has done the best job of working its way higher. It actually came within close reach of the neutral line only minutes ago. Its relative strength comes with help from large-cap tech issues like Microsoft (MSFT 29.56, +0.33) and Apple (AAPL 453.03, +5.75). DJ30 -34.44 NASDAQ -2.59 SP500 -4.90 NASDAQ Adv/Vol/Dec 800/985 mln/1690 NYSE Adv/Vol/Dec 885/370 mln/2060

1:30 pm : Intensified selling in the commodity complex has left the CRB Index to trade with a 1.0% loss. Among its most closely tracked components, oil prices are down 1.0% to $98.60 per barrel, while natural gas prices are off by 0.4% at $2.75 per MMBtu. As for precious metals, gold prices have actually moved closer to the neutral line since this morning so that the yellow metal now trades with a 0.1% loss at $1730 per ounce, while silver trades with a 1.0% loss at $33.45 per ounce.DJ30 -68.46 NASDAQ -9.03 SP500 -7.89 NASDAQ Adv/Vol/Dec 700/915 mln/1790 NYSE Adv/Vol/Dec 745/340 mln/2190

1:00 pm : The stock market slid sharply in the opening minutes of trade, but support for the S&P 500 near 1300 has helped stocks pare their losses.

Without any uplifting corporate reports and some generally underwhelming personal income and spending numbers, market participants turned to selling this morning. Their efforts came in conjunction with weakness abroad and frustration related to Greece's ongoing struggle to strike a compromise with its creditors. Reports continue to suggest that the country may not be given additional bailout funding without proof of progress in its austerity efforts.

Early selling quickly put the stock market on pace for its poorest performance of the past month, but selling pressure began to ease once the S&P 500 found technical support near the psychologically significant 1300 line.

Although the major averages have moved up from their morning lows, losses remain sizable. Of the major sectors, only telecom is sporting a gain. The sector has worked its way up to a 0.2% gain. Tech stocks actually poked into positive territory earlier, but the sector has since struggled to sustain the move. As such, it is currently narrowly below the neutral line.

Financials continue to wrestle with concerted selling, which has left the sector 1.5% lower on the session. Diversified financial services stocks have been hit particularly hard. DJ30 -76.63 NASDAQ -11.40 SP500 -8.81 NASDAQ Adv/Vol/Dec 755/830 mln/1705 NYSE Adv/Vol/Dec 790/315 mln/2125

12:30 pm : Telecom stocks have made a sudden swing higher. Collectively, they are now at their best level of the day, sporting a 0.3% gain, which makes them the best performing sector of the session.

The move by telecom comes as integrated plays AT&T (T 29.26, +0.10) and Verizon (VZ 37.49, +0.28) garner support after finishing trade on Friday at weekly lows. Last week each company posted earnings that came short of the consensus. DJ30 -71.90 NASDAQ -8.47 SP500 -8.15 NASDAQ Adv/Vol/Dec 760/740 mln/1680 NYSE Adv/Vol/Dec 780/285 mln/2115

12:00 pm : Stocks are off of session lows, but weakness persists. The action has stoked volatility, such that the Volatility Index is up about 6% to almost 20. Earlier this morning the VIX managed to clear 20 for the first time in little more than a week. The average level for the VIX this month is only narrowly north of 21.DJ30 -78.90 NASDAQ -10.83 SP500 -9.26 NASDAQ Adv/Vol/Dec 770/665 mln/1630 NYSE Adv/Vol/Dec 790/260 mln/2085

11:30 am : Stocks have extended their climb up from session lows, but weakness remains widespread. That said, tech stocks have made a nice run out of the red into positive territory. The sector is now up 0.1% and is the only sector sporting a gain.

Among tech stocks, Apple (AAPL 52.10, +4.82), IBM (IBM 91.83, +1.37), and Dell (DELL 16.85, +0.11) are displaying leadership. Semiconductor-related issues continue to trade with weakness, though. As such, the Philadelphia Semiconductor Index is currently down 1.4%. DJ30 -8409 NASDAQ -9.63 SP500 -9.08 NASDAQ Adv/Vol/Dec 685/560 mln/1700 NYSE Adv/Vol/Dec 715/230 mln/2150

11:00 am : The S&P 500 has managed to make a modest rebound upon finding support at the 1300 line, but stocks continue to trade with considerable weakness.

Financials are in the worst shape of any major sector. As a group they are down 1.4%. Although selling in that space is broad, major diversified banking and financial services plays like Bank of America (BAC 7.08, -0.21), JPMorgan Chase (JPM 36.62, -0.59), and Citigroup (C 30.39, -0.48) are the primary blame, given their market weight and the scope of their losses. DJ30 -87.98 NASDAQ -12.89 SP500 -9.42 NASDAQ Adv/Vol/Dec 550/435 mln/1835 NYSE Adv/Vol/Dec 560/185 mln/2290

10:35 am : The dollar index is trading higher this morning, which is weighing on commodities. However, there are a few commodities showing some gains, including natural gas, aluminum, lumber, orange juice, sugar and lean hogs.

In the energy space, Feb crude oil has been in the red all session and fell as low as $98.52. The energy component attempted to climb back up to the $99 level, but fell a little short. In current action, crude is back near that mark, currently at $98.92, down 0.6%. Mar natural gas sold off earlier this morning and fell to the current session low of $2.71, but has since recovered all of its losses and is now back in positive territory, currently 0.8% higher at $2.78/MMBtu.

In Metals: Feb gold and March silver are lower this morning, but have been trending higher. Gold recently moved back to the unchanged line, but lost steam and is now chopping around. Silver has climbed higher since just after 9am EST, but is currently down 1.1% at $33.41/oz.DJ30 -110.99 NASDAQ -29.08 SP500 -13.62 NASDAQ Adv/Vol/Dec 481/372 mln/1889 NYSE Adv/Vol/Dec 491/165 mln/2347

10:00 am : Stocks slumped at the start of trade, but they managed to stabilize before things got too hairy. Despite the support, the major equity averages are still chopping around their opening lows as buyers refuse to orchestrate a rebound.

Meanwhile, the dollar continues to ease off of its morning high. Still, it continues to lead a collection of competing currencies by little more than 0.5%. Most of the greenback's gain has come against the euro, which has been pressured in response to the persistent financial troubles facing Greece. Such precarious conditions have made it difficult for the country to reach a compromise on debt terms with its creditors. DJ30 -100.09 NASDAQ -26.17 SP500 -12.60 NASDAQ Adv/Vol/Dec 490/130 mln/1750 NYSE Adv/Vol/Dec 425/80 mln/2205

09:45 am : Broad-based selling pressure quickly dropped all 10 major sectors for marked losses this morning, and put the S&P 500 pace for its worst single-session performance in a month. Pressure has eased slightly in recent action, however.

Still, weakness among stocks has prompted many market participants to rotate into such safe havens as the dollar and Treasuries. As such, the greenback is boasting a 0.6% gain against a basket of major foreign currencies, while buying in the benchmark 10-year Note takes its yield down to a monthly low of less than 1.85%. DJ30 -85.56 NASDAQ -20.91 SP500 -11.38 NASDAQ Adv/Vol/Dec NA/NA/NA NYSE Adv/Vol/Dec NA/NA/NA

09:15 am : S&P futures vs fair value: -10.50. Nasdaq futures vs fair value: -19.00. Greece's ongoing struggle to strike a compromise with creditors ahead of a key meeting and an uninspiring dose of monthly personal income and spending data have left broad market stock futures to slide, such that a decidedly lower start to today's trade is expected. Selling pressure has extended to the commodity complex, but traditional safety plays have attracted support. As such, the greenback has gained about 0.7% against a basket of major foreign currencies. Meanwhile, the benchmark 10-year Note has been bid high enough to drop its yield to a new monthly low beneath 1.85%.

09:05 am : S&P futures vs fair value: -12.10. Nasdaq futures vs fair value: -23.80. Coming off of a weekly gain greater than 2%, the CRB Index is down 0.5% this morning. Underlying weakness is owed to lower oil prices, which were last quoted with a 0.9% loss at $98.65 per barrel in the opening minutes of pit trade. Meanwhile, natural gas prices are down just 0.1% to $2.75 per MMBtu. Precious metals are under pressure, too. Specifically, gold was last quoted with a 0.4% loss at $1725 per ounce, while silver is down 1.6% to $33.26 per ounce.

08:35 am : S&P futures vs fair value: -10.60. Nasdaq futures vs fair value: -20.50. Sellers continue to pressure stock futures. Today's only dose of data hasn't done anything to ease their efforts. Personal income increased by 0.5% during December. That bested the 0.4% increase that had been expected, on average, among economists polled by Briefing.com. Spending was unchanged for the month, though. An incremental increase of only 0.1% had been broadly expected. However, core personal consumption expenditures increased by 0.2% during December, just as many had expected.

08:05 am : S&P futures vs fair value: -8.00. Nasdaq futures vs fair value: -16.80. Stock futures are under pressure this morning. Their weakness comes amid selling overseas and ongoing concerns over Greece's ability to compromise with creditors as the country struggles to get a grip on its financial and economic conditions. In conjunction with those concerns the euro has fallen to a 0.6% loss against the greenback. Only a handful of earnings reports are out this morning; not one is a market mover. The only item on today's economic calendar is a monthly report on personal income and spending; the numbers are due at the bottom of the hour.

06:26 am : [BRIEFING.COM] S&P futures vs fair value: -8.00. Nasdaq futures vs fair value: -18.00.

06:26 am : Nikkei...8793.05...-48.20...-0.50%. Hang Seng...20160.41...-341.30...-1.70%.

06:26 am : FTSE...5687.3...-46.20...-0.80%. DAX...6471.31...-40.70...-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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