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 11:11 am

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: February 6th Monday 2012 Emini TF ($TF_F) points +9.40
PostPosted: Tue Feb 07, 2012 12:17 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:
020612-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit-940.png
020612-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit-940.png [ 75.53 KiB | Viewed 293 times ]

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

Price Action Trade Performance for Today: +9.40 points or $940 dollars in the Russell 2000 Emini TF ($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=101&t=1135.

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=149&t=1370

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

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

Feb. 6 (Bloomberg) -- Bloomberg's Pimm Fox and Deborah Kostroun report on the performance of the U.S. equity market today. U.S. stocks declined, following a five-week advance for the Standard & Poor's 500 Index, amid concern about Europe's debt crisis as Greek leaders wrestled with spending cuts to get aid and avert a default.

Attachment:
020612-Key-Price-Action-Markets.png
020612-Key-Price-Action-Markets.png [ 524.41 KiB | Viewed 293 times ]


Image

Market Update

4:30 pm : The major equity averages finished with fractional losses. The lack of news flow resulted in especially light volume.

Market participants returned their focus to the tribulations of Greece amid an absence of economic data and market-moving corporate reports. Frustration and disappointment over Greece's ongoing struggles with austerity measures and creditors prompted participants to clip stocks this morning. More rumors regarding a potential agreement made their rounds, but stocks showed little trust in them.

The euro was able to overcome early weakness and score itself a gain against the greenback. As of session's end, the euro was up 0.2% against the dollar.

Although the broad market remained in the red for the entire session, the major equity averages were able to turn a modest decline into only a fractional loss.

Broad market action may have been lackluster, but energy stocks put on an impressive performance. They staged a steady ascent that saw the sector settle at its session high with a 1.1% gain. What's more, the move came in the face of softer oil prices, which fell nearly 1% to about $97 per barrel.

In contrast, financials lagged for the entire session. They settled with a 0.5% loss, which isn't severe, but it still makes for one of the poorest performances among the 10 major sectors.

Medco Health Solutions (MHS 58.47, -5.14) put on one of the poorest individual performances in response to headlines that about potential disruptions to plan to acquire Express Scripts (ESRX 49.67, -2.42).

Participation in recent months has regularly been very light, but the dearth of headlines today took share volume to an abysmal level. In fact, the near 690 million shares that were traded on the NYSE made today one of the lightest non-holiday sessions of the past decade.

News flow will pick up some tomorrow. On the earnings docket are BP (BP 46.87, +0.30), Coca-Cola (KO 68.03, -0.05), and UBS (UBS 14.37, -0.30). Tuesday also brings a testimony to the Senate Budget Committee from Fed Chairman Bernanke, whose comments are unlikely to deviate from those he delivered last week to the House Budget Committee, and the latest in consumer credit.

Advancing Sectors: Energy +1.1%, Telecom +0.3%
Unchanged: Consumer Staples, Tech
Declining Sectors: Consumer Discretionary -0.1%, Industrials -0.2%, Utilities -0.4%, Health Care -0.4%, Materials -0.5%, Financials -0.5%DJ30 -17.10 NASDAQ -3.67 NQ100 +0.00% R2K -0.3% SP400 -0.1% SP500 -0.57 NASDAQ Adv/Vol/Dec 1025/1.67 bln/1505 NYSE Adv/Vol/Dec 1235/686 mln/1770

3:30 pm : Commodities closed mixed after a weak start. That helped lift the CRB Index out of the red for a flat finish.

Oil was unable to attract much support. As a result, it logged a 0.8% loss at $96.99 per barrel. However, natural gas prices pushed out of the red to close pit trade at $2.55 per MMBtu for a 0.8% gain.

Among precious metals, gold settled with a 1.0% loss at $1723.00 per ounce, but silver shook free from sellers to settle at $33.76 per ounce for a gain of a few cents. DJ30 -28.53 NASDAQ -6.85 SP500 -2.08 NASDAQ Adv/Vol/Dec 970/1.29 bln/1560 NYSE Adv/Vol/Dec 1140/427 mln/1845

3:00 pm : A lack of market-moving corporate announcements or economic data of consequence has limited participation today. As a consequence, share volume remains paltry.

After the close Anadarko Petroleum (APC 82.61, -1.73), Sunoco (SUN 39.80, +1.30), and Yum! Brands (YUM 63.26, -0.58) will deliver their latest quarterly results. Tomorrow morning features BP (BP 46.66, +0.09), Coca-Cola (KO 68.01, -0.07), and UBS (UBS 14.36, -0.31).

Tuesday doesn't bring any highly anticipated economic data, but Fed Chairman Bernanke will make a testimony on the economy to the Senate Budget Committee. His comments are unlikely to deviate from those he delivered last week to the House Budget Committee. DJ30 -30.39 NASDAQ -7.45 SP500 -2.03 NASDAQ Adv/Vol/Dec 940/1.21 bln/1580 NYSE Adv/Vol/Dec 1090/400 mln/1900

2:30 pm : Although selling hasn't been that aggressive today, the Volatility Index has spiked nearly 5% to almost 18. Just last week the euphemistically labeled Fear Gauge fell to a multi-month low. The slide coincided with the stock market's climb to a multi-month high.DJ30 -43.93 NASDAQ -6.29 SP500 -3.05 NASDAQ Adv/Vol/Dec 930/1.09 bln/1560 NYSE Adv/Vol/Dec 1085/355 mln/1885

2:00 pm : Stocks have turned lower in recent trade, but overal losses are still only modest. Even though losses aren't severe, weakness is widespread with nine of the 10 major sectors in negative territory -- only Energy (+0.4%) is in positive territory.

Treasuries have ticked up to session highs in recent trade. Their advance has taken the yield on the benchmark 10-year Note back below 1.90%. DJ30 -48.06 NASDAQ -7.53 SP500 -3.86 NASDAQ Adv/Vol/Dec 990/1.01 bln/1490 NYSE Adv/Vol/Dec 1155/330 mln/1800

1:30 pm : Health care stocks have come under a bout of pronounced selling pressure, which has taken the sector down to a new session low. Collectively, health care stocks are down 0.5%, but only 15 minutes ago the sector was down just 0.2%.

Medco Health Solutions (MHS 58.61, -5.00) has become a heavy drag on the health care space amid headlines that the company could face potential disruptions to its deal to acquire Express Scripts (ESRX 49.72, -2.36). In contrast, that headline has hiked shares of Walgreen Co. (WAG 34.44, +0.79). DJ30 -40.83 NASDAQ -5.48 SP500 -2.81 NASDAQ Adv/Vol/Dec 1020/935 mln/1460 NYSE Adv/Vol/Dec 1170/305 mln/1765

1:00 pm : A lack of positive catalysts have kept the major equity averages chopping along in negative territory all day. Losses are only modest, though.

Without any economic data or corporate reports of major consequence market participants had little to focus on besides Greece's ongoing struggle to establish and implement austerity measures, as well as covenants with its creditors. Chatter -- nothing official -- about a pending agreement has helped lift the euro out of the red to a modest gain against the greenback.

For the most part, stocks have shrugged off the headline; too often in recent weeks have such stories proven to be only rumors.

Although all 10 major sectors started the session in the red, energy stocks have been making a steady march higher. In fact, the sector is now at a session high and sporting a 0.5% gain. Every other sector is either mired in negative territory or stuck near the neutral line. DJ30 -34.51 NASDAQ -3.32 SP500 -1.78 NASDAQ Adv/Vol/Dec 1000/845 mln/1455 NYSE Adv/Vol/Dec 1185/280 mln/1735

12:30 pm : The Energy sector is in positive territory, sporting a 0.2% gain. Although that isn't much, it's enough to make Energy the best performing sector of the session.

Among energy-related plays, Sunoco (SUN 39.49, +0.99), Tesoro (TSO 25.80, +0.39), Denbury Resources (DNR 19.07, +0.39), and Pioneer Natural Resources (PXD 106.09, +1.70) are top performers. Their strength has offset weakness in the likes of Anadarko (APC 82.73, -1.61), Williams (WMB 29.37, -0.33), and Chesapeake (CHK 22.21, -0.10). DJ30 -40.41 NASDAQ -6.50 SP500 -2.75 NASDAQ Adv/Vol/Dec 910/770 mln/1525 NYSE Adv/Vol/Dec 1100/255 mln/1805

12:00 pm : The euro has extended its advance so that it is now up 0.2% against the greenback. Meanwhile, the major stock averages continue to slog along in negative territory.

Although broad market action remains weak, shares of Hasbro (HAS 36.79, +0.93) have rallied out of the red to an enviable gain. The sector's weak start came despite an upside earnings surprise for the latest quarter. DJ30 -38.30 NASDAQ -7.12 SP500 -2.89 NASDAQ Adv/Vol/Dec 900/665 mln/1525 NYSE Adv/Vol/Dec 1050/220 mln/1840

11:30 am : Chatter that a deal may have been struck between Greece and its creditors has helped take the euro higher. In fact, the euro is now flat against the greenback after it was down about 0.5% only a couple of hours ago.

The stock market hasn't shown much of a response to that headline, however. That's likely because market participants have been repeatedly disappointed during recent weeks as just about every report has been hardly more than rumor. The lack of results has frustrated many, and undermined confidence in the country's ability and willingness to take steps necessary in shoring up fiscal and economic conditions. DJ30 -35.46 NASDAQ -6.95 SP500 -3.13 NASDAQ Adv/Vol/Dec 875/585 mln/1530 NYSE Adv/Vol/Dec 1015/200 mln/1825

11:00 am : A lack of leadership has left the major equity averages to continue chopping along in negative territory.

Financials were a source of strength for most of last week's action. The sector capped off the week with a gain of almost 3%, which fed into a weekly gain of more than 4%. However, the financials are under pressure this session. Although it recently eased up from its session low, the sector is still down 0.9% today.

Among financial issues, insurance plays are the poorest performers. That said, banking plays aren't exactly performing well -- the KBW Bank Index is currently down 0.9%. DJ30 -43.52 NASDAQ -12.25 SP500 -4.68 NASDAQ Adv/Vol/Dec 810/465 mln/1565 NYSE Adv/Vol/Dec 880/160 mln/1930

10:35 am : The dollar index is trading higher this morning, which has added selling pressure on commodities. In recent trade, the index has been trending lower from its 79.51 session high.

In the energy space, Mar crude oil has been in negative territory all session, but gained steam when floor trading began and rallied to a recently-hit new session high of $97.68/barrel. Currently, crude is down 0.6% at $97.22/barrel. Feb natural gas rose as high as $2.55 in early morning activity and after crossing over the unchanged line a few times, nat gas is back at the unchanged line, now at $2.50/MMBtu. From a week ago, nat gas is up about 4.6%.

In metals, Apr gold and March silver both hit a new session low in recent activity and are about 1% lower. Silver is inching its way higher from that low, while gold is currently just above its own low. Currently, gold is down 1.2% at $17.19.30/oz and silver is down 1.0% at $33.42/oz DJ30 -45.03 NASDAQ -11.86 SP500 -4.64 NASDAQ Adv/Vol/Dec 793/411 mln/1554 NYSE Adv/Vol/Dec 886/148 mln/1910

10:00 am : Stocks are trying to improve their positions. The effort has moderated losses among the major equity averages.

Despite the upturn, there still isn't a single sector in positive territory. Energy and Industrials sectors are both narrowly below the neutral line, however. Meanwhile, materials stocks remain in the worst shape of any sector as they wrestle with a loss of almost 1%. DJ30 -42.57 NASDAQ -8.53 SP500 -3.58 NASDAQ Adv/Vol/Dec 605/110 mln/1575 NYSE Adv/Vol/Dec 700/65 mln/1945

09:45 am : Weakness among equities has the major averages down with sizable losses this morning. There really isn't any legitimate source of leadership at this point.

Financials have been a particularly heavy drag. The sector has slumped to an early loss of 0.7%, making it one of the worst performing groups of the early going. That said, materials stocks are down 0.8%, which makes them the poorest performers this morning. Materials stocks collectively lack market weight, though. DJ30 -55.85 NASDAQ -15.96 SP500 -5.67 NASDAQ Adv/Vol/Dec NA/NA/NA NYSE Adv/Vol/Dec NA/NA/NA

09:15 am : S&P futures vs fair value: -6.50. Nasdaq futures vs fair value: -10.50. Moderate selling pressure ahead of the open has market participants anticipating a lower start for the cash market. Weakness is largely owed to renewed selling pressure in Europe, where sentiment remains undermined by ongoing concerns related to Greece's ability, and possibly willingness, to implement austerity measures and strike a compromise with creditors so as to help prevent a default by the country. Such themes have also implicated the euro, which is currently narrowly above its morning low and trailing the greenback by about 0.5%. Without any major corporate announcements or economic reports of consequence, there has been little else for market participants to use as trading cues.

09:05 am : S&P futures vs fair value: -7.50. Nasdaq futures vs fair value: -12.50. Commodities are mostly weak this morning. That has the CRB Index off by 0.5%. Among the more closely tracked commodities, oil prices are down 1.4% to $96.45 per barrel in the first few minutes of pit trade. Meanwhile, natural gas prices are off by 0.9% to $2.49 per MMBtu. Precious metals aren't faring any better. In fact, gold prices are down 1.2% to $1719.50 per ounce, while silver has fallen 1.6% to $33.22 per ounce. In the backdrop, the greenback has advanced to a 0.7% gain against a collection of competing currencies.

08:35 am : S&P futures vs fair value: -7.30. Nasdaq futures vs fair value: -12.00. Moderate weakness in Europe has the EuroStoxx 50 down 0.2%. Greece's persistent inability to establish and implement austerity measures and agree to lending covenants with creditors remains a recurring cause for weakness, or at least as it is reported by financial media. Germany's DAX is down 0.3%. Deutsche Bank (DB 43.42, -1.57) and Commerzbank have been a couple of the heaviest drags on trade, but RWE AG and Infineon Tech are offering some support. France's CAC is off by 1.0%. Weakness there is widespread, but Renault and Capgemini have mustered modest gains. Financial outfits Societe Generale and Credit Agricole are down sharply, though. Britain's FTSE has fallen to a 0.2% loss. Barclays (BCS 14.61, -0.49) has been a heavy burden on trade, but Lloyds Group (LYG 2.18, +0.04) has displayed strength. Economic data from the region was limited, but the latest reading on eurozone investor confidence proved better than expected.

Overnight action in Asia was relatively mixed. Japan's Nikkei ended its latest session 1.1% higher. Panasonic was a top performer. Sony (SNE 19.21, +0.00) also outperformed; last week the stock slumped after its quarterly report, but it has since staged strong back-to-back gains. Hong Kong's Hang Seng slipped to a 0.2% loss. Property plays were a primary source of weakness, although global banking giant HSBC (HBC 44.34, +0.00) displayed strength. Mainland China's Shanghai Composite closed flat. The International Monetary Fund trimmed its economic growth forecast for the country to 8.25% from 9.00%. Weaker demand for the country's exports was a primary cause for the downward revision.

Note: ticker quotes reflect premarket prices.

08:05 am : S&P futures vs fair value: -6.00. Nasdaq futures vs fair value: -9.80. Stock futures are under modest pressure this morning. Their weakness comes amid renewed selling in Europe, where Greece's officials continue to grapple with creditors and austerity demands. The euro has been imbued by the selling, such that it trails the greenback by about 0.4%. Quarterly reports have been limited in both number and breadth, but premarket participants have had a negative reaction to in-line earnings from Humana (HUM 87.45, -2.67). Diversified outfit Loews Corp (L 38.61, +0.00) has yet to announce. Note: ticker quotes reflect premarket prices. No economic reports of consequence are scheduled for today.

06:22 am : [BRIEFING.COM] S&P futures vs fair value: -7.50. Nasdaq futures vs fair value: -10.50.

06:22 am : Nikkei...8929.20...+97.30...+1.10%. Hang Seng...20709.94...-47.00...-0.20%.

06:22 am : FTSE...5882.78...-18.30...-0.30%. DAX...6731.01...-35.70...-1.00%.

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 2 guests


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