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 Post subject: March 7th Wednesday 2012 Emini TF ($TF_F) points +2.00
PostPosted: Wed Mar 07, 2012 10:47 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:
030712-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit-200.png
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click on the above image to view today's performance verification

Price Action Trade Performance for Today: +2.00 points or $200 dollars in the Russell 2000 Emini TF ($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=1159.

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.

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Market Update

4:30 pm : The major equity averages rebounded from a sharp loss in the prior session to book strong gains. Underlying share volume was on par with recent trends.

Following the worst one-day drop for the S&P 500 in nearly three months market participants came back with a strong bid. Financials became the favorite sector, but had actually seemed a bit groggy in the early going as the sector tried to work through a hangover from the 2.5% drop that it suffered in the prior session. Financials settled trade today with a 1.3% gain.

The Consumer Discretionary sector scored a 1.0% gain as shares of retailers continued their climb. Even American Eagle (AEO 15.54, +0.91) rallied hard despite a disappointing quarterly report and forecast.

Industrials also advanced 1.0%. The group was led by General Electric (GE 18.77, +0.35), which benefited from word ahead of its Investor Day that expectations are still in place for double-digit revenue growth in the company's global growth regions.

Apple (AAPL 530.69, +0.43) shares set session highs in the opening minutes of trade, but responded negatively to the company's unveiling of its latest iPad. The stock was able to recover from the red and eke out an incremental gain, though.

Utilities fell early, but finished at the flat line. They were the only sector that failed to book a gain.

The dollar benefited from a flight to safety in the prior session, but it experienced some modest selling today. That left it to lose about 0.2% against a collection of competing currencies. The Volatility Index was down about 8% by session's end. Its drop came a day after it had spiked to trade near its one-month high.

Data today didn't do a whole lot to induce trade. Still, market participants took note that the latest ADP Employment Change reading indicated that private payrolls climbed in February by 216,000, which is on par with the increase of 218,000 that had been expected, on average, among economists polled by Briefing.com. The February figure also came as an improvement over the upwardly revised increase of 173,000 private payrolls reported for January.

Fourth quarter productivity and labor cost data both experienced some substantial revisions from the preliminary readings. The latest report indicated that productivity increased by 0.9%, which is an improvement over the 0.7% increase reported previously. Many had expected the revised reading to show an increase of 0.8%. Unit labor costs climbed 2.8%, which is far greater than the 1.2% increase featured in the preliminary reading and sharper than the 1.1% increase that had been widely anticipated.

Consumer credit climbed to $17.8 billion in February from a downwardly revised $16.3 billion in the prior month. Economists polled by Briefing.com had forecasted, on average, a decline to $12.0 billion.

Barely 800 million shares traded hands today on the NYSE. Although that's not very impressive by historical averages, it is in stride with recent trends.

Tomorrow's calendar of events is weighted toward the early morning. The Bank of England will announce its latest decision on interest rates at 7:00 AM ET. The European Central Bank will follow at 7:45 AM ET. Domestic economic data is limited to the latest weekly jobless claims tally at 8:30 AM ET. Tomorrow also marks the deadline for the Greece's planned Bond swap.

Advancing Sectors: Financials +1.3%, Industrials +1.0%, Consumer Discretionary +1.0%, Tech +0.7%, Energy +0.6%, Telecom +0.5%, Health Care +0.4%, Materials +0.4%, Consumer Staples +0.1%
Unchanged: Utilities
Declining Sectors: (None)DJ30 +78.18 NASDAQ +25.37 NQ100 +0.7% R2K +1.1% SP400 +1.0% SP500 +9.27 NASDAQ Adv/Vol/Dec 1859/1.57 bln/643 NYSE Adv/Vol/Dec 2375/801 mln/645

3:30 pm : Oil prices were pressured at the open of pit trade, but the energy component closed pit trade with an impressive gain of 1.4% at $106.15 per barrel. The bullish bias was helped by news that weekly crude oil inventories increased by about 832,000, which is less than the build of 1.5 million barrels that had been broadly expected.

Elsewhere in the energy complex, natural gas prices tumbled 2.1% to $2.30 per MMBtu, which stands as a multi-year low for constant natural gas futures prices and a lifetime low for the April contract.

Precious metals made a partial recovery from their prior session slide. Following a 1.9% loss yesterday, gold prices gained 0.7% to close pit trade today at $1683.70 per ounce. Meanwhile, silver sank 2.8% yesterday, but bounced 2.1% to $33.49 per ounce today.

Even though precious metals and oil prices traded higher, the CRB Index still suffered a 0.2% loss, which comes on top of the 1.6% drop that it suffered in the prior session. That drop marked CRB's worst single-session loss in two months. DJ30 +94.07 NASDAQ +25.42 SP500 +10.34 NASDAQ Adv/Vol/Dec 1775/1.23 bln/710 NYSE Adv/Vol/Dec 2335/440 mln/660

3:00 pm : Stocks are near their best levels of the day as they enter the final hour of the session. There hasn't been a lot of volume behind the buying effort, though.

Monthly consumer credit numbers were just released. The data showed that consumer credit climbed to $17.8 billion in February from a downwardly revised $16.3 billion in the prior month. Economists polled by Briefing.com had predicted, on average, that consumer credit would decline to $12.0 billion.

With only an hour remaining before the closing bell, many market participants are shifting their focus to what lays ahead. The Bank of England will announce its latest decision on interest rates at 7:00 AM ET. The European Central Bank will follow at 7:45 AM ET. Tomorrow also marks the deadline for the Greece's planned Bond swap. Domestic economic data is limited to the latest weekly jobless claims tally. DJ30 +90.29 NASDAQ +22.95 SP500 +9.71 NASDAQ Adv/Vol/Dec 1760/1.13 bln/710 NYSE Adv/Vol/Dec 2285/400 mln/710

2:30 pm : Stocks recently slipped below their afternoon trading range, but have managed to reclaim their gains in recent trade. Strength remains broad based with eight of the 10 major sectors sporting solid gains -- Consumer Staples is stuck at the flat line, while the Utilities sector is down 0.1% after spending the afternoon trimming its loss.DJ30 +78.18 NASDAQ +24.35 SP500 +8.80 NASDAQ Adv/Vol/Dec 1785/1.02 bln/685 NYSE Adv/Vol/Dec 2310/365 mln/655

2:00 pm : Shares of Apple (AAPL 531.83, +1.57) were up solidly in the early going, but now they are trying to recover from a recent flurry of selling that followed the unveiling of the company's latest iPad. Apple also announced it will roll out Apple TV next week. The product was displayed at Apple's event with a Netflix (NFLX 105.08, -2.05) application, but shares of NFLX have failed to see a positive response and are trading near session lows.DJ30 +78.86 NASDAQ +28.29 SP500 +9.76 NASDAQ Adv/Vol/Dec 1765/945 mln/680 NYSE Adv/Vol/Dec 2300/335 mln/670

1:30 pm : Stocks have been range bound near session highs for the past couple of hours. The crawl has kept the S&P 500 close to the 1352 line.

Treasuries have been trading with moderate weakness all session. That has the yield on the benchmark 10-year Note up just a couple of basis points to about 1.96%. For the past month the Note's yield has traded as low as 1.93% and as high as 2.06%. DJ30 +73.53 NASDAQ +27.11 SP500 +8.88 NASDAQ Adv/Vol/Dec 1750/855 mln/670 NYSE Adv/Vol/Dec 2250/310 mln/690

1:00 pm : Stocks are sitting at session highs sporting solid gains as market participants return with a bid following the drubbing in the prior session.

The broad market tumbled well in excess of 1% yesterday for its worst single-session slide in nearly three months as traders and investors reacted to revived concerns about global economic growth, but buyers are back in the mix today. Their efforts have helped drive stocks to strong gains.

Financials have been a source of leadership after a relatively sluggish start to the session. As a group financials are now up 1.3%, which makes them today's top performers. Their climb today comes as a rebound from the precipitous 2.5% drop suffered in the prior session.

Energy stocks traded in the red this morning, but they have since worked their way higher. Energy stocks now collectively sport a 0.7% gain with help from higher oil prices, which were last quoted with a 1.3% gain at $106.05 per barrel.

The dollar was flat this morning, but amid the improved tone to broad market trade it has moved into the red to trade with a narrow loss against a collection of competing currencies.

The positive tone to today's trade has dropped the Volatility Index by about 7%. It had spiked in the prior session to trade near its one-month high.

Data today featured an ADP Employment Change reading that suggested private payrolls climbed by an in-line 216,000 during February. Separately, fourth quarter productivity was revised upward to reflect an increase of 0.9%, but unit labor costs were revised sharply higher to reflect a surprisingly sharp increase of 2.8%. Still on the calendar is the latest monthly consumer credit reading (3:00 PM ET).DJ30 +70.84 NASDAQ +27.19 SP500 +8.82 NASDAQ Adv/Vol/Dec 1760/795 mln/660 NYSE Adv/Vol/Dec 2275/290 mln/665

12:30 pm : Stocks continue to dance along session highs. Their inability to extend the move comes amid a loss of momentum among the broad market's more influential sectors like Financials (+1.1%), Tech (+0.8%), and Energy (+0.7%).DJ30 +70.27 NASDAQ +25.68 SP500 +8.32 NASDAQ Adv/Vol/Dec 1730/728 mln/680 NYSE Adv/Vol/Dec 2230/265 mln/690

12:00 pm : Stocks have entered into a sideways drift after adding to their gains and setting session highs roughly 30 minutes. The drift has allowed the latest leg of gains to consolidate.

An improved tone to today's trade has taken the Volatility Index about 6% lower. It spiked in the prior session to trade near its one-month high in response to the stock market's slide, which was the worst one-day drop for the S&P 500 in almost three months. DJ30 +80.22 NASDAQ +26.58 SP500 +9.16 NASDAQ Adv/Vol/Dec 1730/615 mln/650 NYSE Adv/Vol/Dec 2260/230 mln/620

11:30 am : Stocks have pushed higher in recent trade. The action has the major equity averages at their best levels of the day, sporting solid gains.

Financials remain out in front of the action. The sector has extended its run to a 1.0% gain. Energy stocks have rallied in recent trade, too. The sector had lagged with a modest loss in early trade, but it is now up with a 0.8% gain, which has been helped by a jump in oil prices. Oil was last quoted with a 1.1% gain at $105.85 per barrel. DJ30 +81.81 NASDAQ +24.58 SP500 +8.74 NASDAQ Adv/Vol/Dec 1705/515 mln/640 NYSE Adv/Vol/Dec 2185/195 mln/685

11:00 am : The major equity averages continue to chop along with modest gains. Despite a slow start, financial stocks have emerged as a source of leadership. Their newfound strength has the sector sporting a 0.7% gain. Shares of diversified financial services stocks like Citigroup (C 32.92, +0.80) and JPMorgan Chase (JPM 39.81, +0.49) are outperforming in the financial space.

Utilities stocks remain at the opposite end of the spectrum, mired in negative territory with a 0.5% loss. Consumer Staples, down 0.2%, is the only other sector in the red. DJ30 +33.56 NASDAQ +16.75 SP500 +4.58 NASDAQ Adv/Vol/Dec 1595/385 mln/680 NYSE Adv/Vol/Dec 1935/150 mln/870

10:40 am : Energy: Apr crude oil was in positive territory all session before it sold off near the open of pit trading. Following inventory data, crude rallied into positive territory and is now trading +0.2% at $104.89/barrel.

Apr natural gas just hit a new session low of $2.28 and has been in the red all session. In recent trade, is has inched higher and is now -1.8% at $2.31/MMBtu.

In Metals: Apr gold and May silver have been trading higher this morning, but have lost steam around 9am ET as the dollar index continued to move higher. Gold is currently +0.3% at $1677.50, while silver is +0.5% at $32.96/oz. May copper is now flat at $3.74.DJ30 +136.55 NASDAQ +12.47 SP500 +2.44 NASDAQ Adv/Vol/Dec 1579/384 mln/694 NYSE Adv/Vol/Dec 1906/152 mln/899

10:00 am : Oil's retreat to the flat line -- it now trades at $104.65 per barrel -- has resulted in some selling pressure among energy stocks. Although the effort hasn't been all that intense, the sector is still in negative territory with a 0.2% loss. Among energy issues, Marathon Oil (MRO 32.40, -0.01), Chevron (CVX 108.54, -0.31), and Exxon Mobil (XOM 85.35, -0.51) are weighing on action, but drillers and services plays like Schlumberger (SLB 74.41, +0.62) and Transocean (RIG 51.96, +0.52) are providing support to the space.DJ30 +28.89 NASDAQ +14.70 SP500 +3.83 NASDAQ Adv/Vol/Dec 1505/120 mln/600 NYSE Adv/Vol/Dec 1780/65 mln/875

09:45 am : Strength among tech issues has given the Nasdaq a modest lead over its counterparts in the early going. Tech stocks, collectively up 0.5%, are currently led by the likes of Apple (AAPL 535.36, +5.10) and Google (GOOG 610.65, +5.69).

Utilities stocks are at the opposite end of the spectrum. The sector has already descended to a 0.6% loss, which comes after it outperformed every other sector yesterday by limiting its loss to only 0.5%. DJ30 +13.55 NASDAQ +12.47 SP500 +2.44 NASDAQ Adv/Vol/Dec NA/NA/NA NYSE Adv/Vol/Dec NA/NA/NA

09:15 am : S&P futures vs fair value: +5.50. Nasdaq futures vs fair value: +13.00. An improved mood among market participants has stock futures pointing to a positive start after the broad market booked its worst loss in almost three months yesterday. The action comes amid modest gains in Europe, where the region's major bourses have attracted support after suffering steep losses in the prior session. Neither the dollar nor the euro is seeing much movement, though.

Data today has featured an in-line ADP Employment Change reading, a stronger-than-expected upward revision to fourth quarter productivity, and a surprising upward revision to fourth quarter unit labor capital costs. Still to come are the latest monthly consumer credit numbers (3:00 PM ET).

09:05 am : S&P futures vs fair value: +5.80. Nasdaq futures vs fair value: +13.50. The CRB Index suffered its worst loss in about two months yesterday, but it has yet to rebound. Instead, the CRB remains mired near the neutral line. Higher oil prices have helped provide support, however. They were last quoted with a 0.4% gain at $105.15 per barrel. However, natural gas prices have dropped 2.5% to $2.40 per MMBtu. Precious metals prices were clipped aggressively in the prior session, but this morning gold prices have gained 0.5% to trade at $1680 per ounce. Meanwhile, silver is sporting a 1.0% gain at $33.13 per ounce.

08:35 am : S&P futures vs fair value: +6.40. Nasdaq futures vs fair value: +14.30. Stock futures continue to trade with strength following a couple of doses of data. Minutes ago the latest ADP Employment Change indicated that private payrolls climbed by 216,000 during February. That is on par with the increase of 218,000 that had been expected, on average, among economists polled by Briefing.com. The February figure also shows improvement from the upwardly revised increase of 173,000 private payrolls reported for January.

Released more recently, productivity data for the fourth quarter showed an increase of 0.9%, which is an improvement over the 0.7% increase that had been reported in the preliminary reading. It is also better than the 0.8% increase that had been broadly expected. Unit labor costs for the fourth quarter were revised sharply higher to reflect a 2.8% increase after they had reportedly increased by 1.2% in the preliminary reading. Economists polled by Briefing.com had actually expected, on average, that unit labor costs would ease down in the revised reading to reflect an increase of 1.1%.

08:05 am : S&P futures vs fair value: +4.80. Nasdaq futures vs fair value: +11.50. Stocks suffered their worst single-session loss in nearly three months yesterday, but participants are back with a bid this morning. Their support has stock futures pointing to a solid start for the major equity averages. An improved mood in Europe has helped perpetuate a more positive tone, but the euro remains flat. Following the greenback's impressive gain in the prior session, the dollar is down fractionally against a basket of major foreign currencies.

Likely to play a part in trade this morning is the latest ADP Employment Report, which will be released at 8:15 AM ET. Revised fourth quarter productivity and cost data are due at 8:30 AM ET. Monthly consumer credit numbers will be released later today at 3:00 PM ET.

06:29 am : [BRIEFING.COM] S&P futures vs fair value: +6.00. Nasdaq futures vs fair value: +12.50.

06:29 am : Nikkei...9576.06...-61.60...-0.60%. Hang Seng...20627.78...-178.50...-0.90%.

06:29 am : FTSE...5777.50...+11.70...+0.20%. DAX...6649.08...+16.00...+0.20%.

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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