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 Post subject: March 6th Tuesday 2012 Emini TF ($TF_F) points +10.30
PostPosted: Tue Mar 06, 2012 7:34 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

Price Action Trade Performance for Today: +10.30 points or $1030 dollars in the Russell 2000 Emini TF ($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. You can read today's #FuturesTrades trading chat room logs for 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 in comparison to what's shown in the above image...all archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=102&t=1157.

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=150&t=1403

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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. Stock Market Wrap

March 6 (Bloomberg) -- Bloomberg's Deborah Kostroun reports on the performance of the U.S. equity market today. U.S. stocks slumped, giving the Standard & Poor's 500 Index its biggest decline this year, asconcern grew about the success of a Greece debt-swap deal and after a report showed that the European economy contracted.

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Market Update

4:30 pm : Stocks eased up from session lows late in the day, but the broad market still booked its worst loss of 2012. The sell-off initially came with an increase in participation, but the pace of trade eventually moderated so that total share volume remained in line with recent trends.

Last week stocks scored their eighth weekly gain in nine tries to set new multi-year highs, but they began to show fatigue in the final days of that stretch. The struggle to extend the climb made many market participants both edgy and curious if stocks were on the cusp of a pullback. Against that backdrop news earlier this week that GDP for China is expected to slow to a 7.5% clip from an 8.0% pace was followed by word this morning that fourth quarter eurozone GDP remained at -0.3% revived concerns about global growth, effectively giving many traders an excuse to exit their positions.

Share volume was relatively strong in the early going. Many participants appeared anxious to sell after they had stood pat on their long positions, patiently watching stocks run higher in recent weeks. The rush to sell slowed as time passed, however, leaving overall share volume on the NYSE to total about 875 million shares. That's on the order of what has been averaged in recent months.

Financials were hit the hardest today. The sector suffered a 2.5% loss, but is still up more than 10% year to date. Defensive-oriented sectors like Utilities, Telecom, and Consumer Staples managed to limit their losses to less than 1%. Specifically, they fell 0.5%, 0.8%, and 0.8%, respectively. Altogether, though, the stock market suffered its worst single-session slide in nearly three months.

Widespread weakness spurred the Volatility Index more than 15% higher so that it is back near its monthly high. It had been at a multi-month low only two weeks ago.

Commodities were also clipped as traders took risk off of the table. The action was so aggressive that the CRB Index fell 1.6% in its worst single-session slide in two months. Oil was a particularly weak performer; futures prices fell 1.9% to $104.72 per barrel.

An interest in safety took Treasuries higher, driving down the yield on the benchmark 10-year Note to 1.95%, but that's still comfortably above last week's lows near 1.90%.

The US dollar and Japanese yen also benefited from a flight to safety. Buyers took the Dollar Index up 0.7% to trade at six-week high above its 50-day moving average. The yen was up in excess of 1% against the greenback, but by the closing bell it had eased back so that it traded with at 80.85 yen per dollar for a 0.8% gain.

Advancing Sectors: (None)
Declining Sectors: Utilities -0.5%, Telecom -0.8%, Consumer Staples -0.8%, Tech -1.1%, Health Care -1.4%, Consumer Discretionary -1.5%, Energy -1.6%, Materials -2.2%, Industrials -2.3%, Financials -2.5%DJ30 -203.66 NASDAQ -40.16 NQ100 -1.0% R2K -2.1% SP400 -1.9% SP500 -20.97 NASDAQ Adv/Vol/Dec 451/1.86 bln/2104 NYSE Adv/Vol/Dec 262/878 mln/2772

3:30 pm : Aggressive selling among commodities dropped the CRB Index for a 1.6% loss, which stands as its worst single-session slide in two months.

Oil was a heavy drag on the CRB. Futures prices fell 1.9% to $104.72 per barrel. Natural gas failed to sustain an early gain by falling to $2.35 per MMBtu for a loss of one penny.

Precious metals were sold aggressively, resulting in a 1.9% loss for gold prices and a 2.8% loss for silver. The two metals settled pit trade at $1671.60 per ounce and $32.81 per ounce, respectively. DJ30 -210.74 NASDAQ -42.58 SP500 -22.10 NASDAQ Adv/Vol/Dec 440/1.44 bln/2105 NYSE Adv/Vol/Dec 230/560 mln/2770

3:00 pm : Stocks recently slipped incrementally lower to set new session lows as they enter the final hour of the day. The S&P 500 remains on pace for its poorest performance since a 2.1% drop in early December.DJ30 -218.76 NASDAQ -46.47 SP500 -23.26 NASDAQ Adv/Vol/Dec 400/1.36 bln/2130 NYSE Adv/Vol/Dec 230/525 mln/2770

2:30 pm : Stocks continue to trade in a tight range near their session lows. Weakness remains widespread with declining issues outnumbering advancing issues by more than 10-to-1 on the NYSE. Meanwhile, the ratio of declining volume to advancing volume on the Big Board stands at more than 20-to-1.

Financials continue to wrestle with the most aggressive of selling efforts, which have dropped the sector for a 2.4% loss. Financials still stand stood as one of the top performing sectors of 2012, though; they're up more than 10% year to date. Meanwhile, Tech is up about 13% this year. DJ30 -218.91 NASDAQ -46.94 SP500 -23.10 NASDAQ Adv/Vol/Dec 420/1.23 bln/2100 NYSE Adv/Vol/Dec 250/475 mln/2740

2:00 pm : The dollar and Treasuries continue to trade at impressive heights as stocks remain mired near session lows. The drift comes as action starts to slow amid a lack of news flow or meaningful reports. That said, President Obama just concluded a press conference, but his statements have had no impact on today's action.DJ30 -203.78 NASDAQ -42.22 SP500 -21.43 NASDAQ Adv/Vol/Dec 420/1.15 bln/2075 NYSE Adv/Vol/Dec 255/440 mln/2730

1:30 pm : Extending their losses by a narrow margin, both the Dow and the S&P 500 now sit at new session lows. The Nasdaq is only narrowly above the depths that it set earlier in the day.

Share volume has been relatively strong this session. The pick-up in participation is most likely because so many traders and investors had opted to stand pat on their long positions as long as stocks continued to extend their impressive run higher, but now that stocks are showing signs of weakness many are anxious to sell. DJ30 -210.51 NASDAQ -45.21 SP500 -22.11 NASDAQ Adv/Vol/Dec 415/1.06 bln/2075 NYSE Adv/Vol/Dec 250/410 mln/2725

1:00 pm : Renewed concerns about the global economic recovery are being cited for today's broad-based bout of selling, which has stocks on pace for their poorest performance of 2012.

News yesterday morning that China's officials expect GDP for their country to increase at a 7.5% clip, down from the rate of 8.0% that has been held for several years, continues to weigh on sentiment. Market participants failed to get any relief from the latest eurozone GDP reading, which showed that activity tightened by 0.3% in the fourth quarter, just as had been reported initially.

Those headlines have come shortly after the stock market began to show fatigue near multi-year highs following an impressive run that gave the S&P 500 eight weekly gains in nine tries.

With so many subscribing to the belief that the broad market is due for a pullback, stocks have been hit hard this session. Not only does that leave Dow down about 200 points, but the move puts it on pace for its worst single-session performance of 2012. The S&P 500 is on track for its worst single-session loss in nearly three months.

Defensive-oriented stocks have done a relatively good job of limiting losses. In fact, Utilities, Telecom, and Consumer Staples make up the only major sectors that are down less than 1%. Financials, off by 2.4%, are in the worst shape, but Materials, down 2.3%, aren't far behind.

The extent of selling today has driven the Volatility Index, euphemistically dubbed as the Fear Gauge, about 15% higher so that it is now near its monthly high after it had been at a multi-month low only two weeks ago.

Heightened volatility and pronounced pressure among stocks has helped stoke interest in Treasuries, which are sporting solid gains. The US dollar and Japanese yen have also benefited from a flight to safety, such that the greenback is up 0.6% against a basket of major foreign currencies, but the yen is up 1.1% so that it trades at 80.64 yen per dollar. DJ30 -202.71 NASDAQ -43.32 SP500 -21.10 NASDAQ Adv/Vol/Dec 400/975 mln/2070 NYSE Adv/Vol/Dec 260/375 mln/2710

12:30 pm : Treasuries continue to trade with strength. More specifically, the benchmark 10-year Note is now up about three-quarters of a point. That has its yield down to slightly less than 1.95%. Meanwhile, the yield on Germany's 10-year Bund is at 1.77%, while the yield on Britain's 10-year Gilt stands at 2.04% and Japan's 10-year issue stands at 0.99%. Ten-year issues from relatively risky countries like Spain and Italy stand at 5.12% and 5.05%, respectively.DJ30 -195.32 NASDAQ -43.67 SP500 -20.82 NASDAQ Adv/Vol/Dec 365/900 mln/2095 NYSE Adv/Vol/Dec 230/350 mln/2735

12:00 pm : The dollar has been trading steadily along its session high, sporting a lead of about 0.6% over a basket of major foreign currencies. Most of the greenback's gain has come against the euro, which is down 0.8% to $1.31. The sterling pound is also under sharp pressure; it was last quoted with a 0.9% loss at $1.57. In contrast, Japan's yen has climbed aggressively so that it is up 1.0% against the dollar to 80.70 yen per dollar.DJ30 -170.36 NASDAQ -42.69 SP500 -19.76 NASDAQ Adv/Vol/Dec 390/775 mln/2035 NYSE Adv/Vol/Dec 260/305 mln/2665

11:30 am : Stocks continue to drift along session lows with sizable losses. Of the 10 major sectors, only Utilities (-0.8%), Telecom (-0.6%), and Consumer Staples (-0.6%) -- all defensive in nature -- have managed to limit their losses to less than 1%.

Europe's bourses are in the process of settling their latest session of trade. As things stand, losses of almost 3% are expected for Germany's DAX and France's CAC. The EuroStoxx 50 is expected to book a loss of almost 2%. DJ30 -143.98 NASDAQ -35.78 SP500 -17.15 NASDAQ Adv/Vol/Dec 405/665 mln/2005 NYSE Adv/Vol/Dec 245/270 mln/2665

11:00 am : Selling hasn't let up yet. That's left the major equity averages to trade at session lows with sizable losses.

In response to the action the Volatility Index has spiked 15% so that it is now near its monthly high of 21. It was just at a multi-month low about two weeks ago. DJ30 -161.49 NASDAQ -39.34 SP500 -17.96 NASDAQ Adv/Vol/Dec 380/535 mln/1985 NYSE Adv/Vol/Dec 250/220 mln/2625

10:35 am : In energy, Apr crude oil has been weak all morning and fell as low of $104.61/barrel about 30 minutes after floor trading began. The energy component has been inching its way higher in recent activity and recently pushed back above the $105 level and is now -1.4% at $105.25/barrel.

Apr natural gas is showing some strength this morning and hit a new session high of $2.39 in recent trade. Currently, nat gas is back, near the unchanged line at $2.36.

In the metals space, Apr gold and May silver are in the red this morning, largely on the strength in the dollar index and broad market weakness. Gold fell as low as $1663.40 after quickly extending losses just ahead of the opening of equity markets, while silver hit a new session low of $32.60 around the same time. Gold is currently -1.8% at $1673.50 and silver is -2.4% at $32.88/oz. May copper is -2.6% at $3.76/lb.DJ30 -161.88 NASDAQ -43.23 SP500 -17.85 NASDAQ Adv/Vol/Dec 347/488 mln/2009 NYSE Adv/Vol/Dec 231/207 mln/2639

10:00 am : Stocks are at morning lows with sizable losses. In fact, even though it is early in the day, this is shaping up to be the worst single session for the S&P 500 in more than two months.

The selling effort comes after stocks staged an impressive run higher over the past several weeks -- eight weekly gains in nine tries -- but began to show fatigue after reaching their highest levels in 2008. With that already in mind, news about slower global growth prospects has triggered some broad-based selling. DJ30 -140.54 NASDAQ -37.13 SP500 -16.65 NASDAQ Adv/Vol/Dec 300/165 mln/1885 NYSE Adv/Vol/Dec 250/98 mln/2450

09:45 am : The major equity averages are down markedly this morning. In fact, the slide has the Dow on pace for its first triple-digit loss of 2012.

Weakness is widespread, but materials stocks are in the worst shape overall. Their drop this morning has the Materials sector wrestling with a loss of almost 2%.

In contrast, telecom stocks have managed to limit their losses to a collective decline of only 0.4%. DJ30 -142.58 NASDAQ -35.43 SP500 -16.10 NASDAQ Adv/Vol/Dec NA/NA/NA NYSE Adv/Vol/Dec NA/NA/NA

09:15 am : S&P futures vs fair value: -13.20. Nasdaq futures vs fair value: -23.00. Selling pressure has intensified with the approach of the open, such that broad market stock futures now suggest that the cash market will open with a loss of roughly 1%. The effort comes in conjunction with weakness abroad and renewed concerns about global economic growth in the wake of a downward revision to China's forecast yesterday morning and news today that eurozone fourth quarter GDP was unrevised with a 0.3% decline. There has been little else for traders to consider since there haven't been any meaningful announcements from companies of consequence and there isn't a single dose of domestic data on tap for today. In response to the weakness many market participants are taking cover in the US dollar, which has climbed to a 0.6% gain against a basket of major foreign currencies. Treasuries have also attracted an early bid, which has the benchmark 10-year Note up by about a half of a point and its yield near 1.97%.

09:05 am : S&P futures vs fair value: -12.50. Nasdaq futures vs fair value: -21.50. Commodities are under pressure this morning, such that the CRB Index has fallen to a 0.8% loss. Among its more closely tracked constituents, crude oil prices are down 1.2% to $105.40 per barrel in early pit trade. However, natural gas prices are up 0.3% to $2.48 per MMBtu. As for precious metals, gold prices are down 1.5% to $1679.10 per ounce after dancing near $1700 per ounce in the prior session. Silver has slumped to $33.03 per ounce for a 2.0% loss.

08:35 am : S&P futures vs fair value: -11.20. Nasdaq futures vs fair value: -20.30. Trade in Europe is weak as participants there re-assess global growth prospects, including news that eurozone GDP for the fourth quarter slipped by 0.3%, as had been reported in the prior announcement. Greece also remains on the radar because of concern that the country will struggle to efficiently and effectively conduct a bond swap scheduled for later this week. Germany's DAX is currently down 1.4% amid widespread weakness. Shares of Commerzbank and Infineon Tech are in particularly weak shape, but RWE AG and SAP AG have managed to muster gains. France's CAC is currently off by 1.7%. Alcatel-Lucent (ALU 2.33, -0.05) has weighed heavily on action, but Dexia is displaying strength in the face of weakness today. Britain's FTSE 100 has fallen to a 1.1% loss. Banking plays like Barclays (BCS 15.47, -0.63) and Lloyds Group (LYG 2.16, -0.07) are both down with losses in excess of 2%. Royal Bank of Scotland (RBS 8.69, +0.00) isn't far behind. Hargreaves Lansdown, Fresnillo Plc, British Sky, National Grid Plc, GlaxoSmithKline (GSK 44.73, -0.02), and British American Tobacco stand as the only stocks currently in positive territory.

Overnight action in Asia was weak, resulting in widespread losses following news yesterday morning that China now expects its GDP to grow by 7.5%, which is less than the 8.0% clip that it has achieved in past years. Japan's Nikkei fell 0.6%. Losses were led by the likes of Pioneer Corp, Toshiba Corp, and Hitachi. Mizuho Financial (MFG 3.31, +0.00) also weighed heavily on trade. Mazda Motor impressed by pushing up to a gain in excess of 2%. Hong Kong's Hang Seng shed 2.2%. AIA fell hard on heavy volume. Bank of China and Industrial & Commercial Bank of China both encountered aggressive selling pressure, too. Banking plays were also weak on mainland China's Shanghai Composite, which closed with a 1.4% loss.

Note: all ticker quotes reflect US premarket prices.

08:05 am : S&P futures vs fair value: -9.10. Nasdaq futures vs fair value: -16.50. Revived concerns about economic growth have undermined confidence ahead of the open, leaving stock futures to fall markedly. Traders also remain cognizant of the potential for problems related to Greece's upcoming bond swap, which is scheduled for later this week. Those themes have already taken down many of Europe's major bourses to losses in excess of 1%. Asia's major averages already suffered sizable losses of their own in overnight trade. Amid the negativity the dollar has ticked higher, such that it sports a 0.4% lead against a basket of major foreign currencies. There are no earnings reports of consequence this morning and the economic calendar is empty.

06:20 am : [BRIEFING.COM] S&P futures vs fair value: -9.50. Nasdaq futures vs fair value: -17.50.

06:20 am : Nikkei...9637.63...-61.00...-0.60%. Hang Seng...20806.25...-459.10...-2.20%.

06:20 am : FTSE...5810.63...-64.20...-1.10%. DAX...6758.19...-108.30...-1.60%.

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)
Image@ http://twitter.com/wrbtrader, http://stocktwits.com/wrbtrader and http://chart.ly/users/wrbtrader

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