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 Post subject: March 12th Monday 2012 Emini TF ($TF_F) points +7.20
PostPosted: Mon Mar 12, 2012 11:15 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:
031212-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit-720.png
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click on the above image to view today's performance verification

Price Action Trade Performance for Today: +7.20 points or $720 dollars in the Russell 2000 Emini TF ($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=1163.

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 stock market spent the session chopping along listlessly in low volume trade before booking a flat finish. The lackluster action precedes the latest FOMC Policy Statement tomorrow.

Mixed action abroad and an absence of consequential headlines left stocks to open with modest losses. A lack of leadership then left the broad market to muddle along in the early going.

The highly influential Financial sector was an early source of weakness. Weighed down by diversified and regional banks it fell to a loss of about 1% before support was secured. Financials were able to fight off some of the selling to slash losses, but they still ended the day down 0.3%.

Tech stocks, collectively the largest sector by market weight, stayed close to the flat line for most of the session, but were able to book a 0.2% gain. That said, semiconductor plays traded with weakness, resulting in a 1.0% loss for the Philadelphia Semiconductor Index. Losses by semiconductor plays hampered the tech-rich Nasdaq so that it lagged its counterparts by a narrow margin.

Defensive in nature, Utilities (+1.1%), Telecom (+0.5%), and Consumer Staples (+0.5%) all benefited from a steady bid, but their lack of market weight did little to lift the broad market.

The dollar spent the day trailing a basket of major foreign currencies. By session's end it was off by about 0.2%.

Treasuries had attracted a solid bid in the early going, but support faded as trade progressed. That left the benchmark 10-year Note to drift down to the flat line by session's end. Results from an auction of 3-year Notes had little bearing on intraday action -- the offering drew a bid-to-cover ratio of 3.44, dollar demand of $110.1 billion, and an indirect bidder participation rate of 34.6%. For comparison, the an average of the past six auctions results in a bid-to-cover ratio of 3.42, dollar demand of $109.4 billion, and an indirect bidder rate of 36.2%.

Without any announcements or headlines of great consequence many traders saw little reason to take a position ahead of the FOMC Policy Statement tomorrow afternoon. The apathetic attitude resulted in abysmally low share volume, which failed to surpass 650 million shares on the NYSE.

Advancing Sectors: Utilities +1.1%, Consumer Staples +0.5%, Telecom +0.5%, Tech +0.2%, Industrials +0.1%
Declining Sectors: Health Care -0.1%, Financials -0.3%, Consumer Discretionary -0.3%, Energy -0.3%, Materials -0.6%DJ30 +37.69 NASDAQ -4.68 NQ100 +0.00% R2K -0.4% SP400 -0.4% SP500 +0.22 NASDAQ Adv/Vol/Dec 1088/1.33 bln/1432 NYSE Adv/Vol/Dec 1368/643 mln/1629

3:30 pm : Persistent weakness in the commodity complex left the CRB Index to suffer a 0.5% loss. Neither energy nor precious metals were able to escape the selling.

Although they settled above their session lows, oil prices still logged a 1.0% loss at $106.32 per barrel. Natural gas continued to contend with sellers, resulting in a 2.2% loss at $2.27 per MMBtu.

Silver prices slid 2.1% to settle pit trade at $33.50 per ounce. Gold wasn't quite as weak, but prices still settled at $1700.20 per ounce for a 0.6% loss. DJ30 +49.27 NASDAQ -4.11 SP500 +1.02 NASDAQ Adv/Vol/Dec 1055/1.03 bln/1445 NYSE Adv/Vol/Dec 1345/405 mln/1625

3:00 pm : Stocks are little changed in the last 30 minutes, making for persistently mixed action between the major equity averages.

The muddled picture has made many traders less enthusiastic about Treasuries; as a result, the benchmark 10-year Note is at the flat line after it had traded with a solid gain in the early going.

As for the dollar, it continues to contend with a modest loss against a collection of competing currencies.

With only an hour left in the session many participants are looking ahead. Only a handful of names are scheduled to report earnings after the close or tomorrow morning -- none are likely to move the market -- but tomorrow brings monthly retail sales numbers, business inventory data, and the latest FOMC Policy Statement. DJ30 +47.83 NASDAQ -3.95 SP500 +0.77 NASDAQ Adv/Vol/Dec 1050/950 mln/1455 NYSE Adv/Vol/Dec 1320/375 mln/1635

2:30 pm : The S&P 500 continues to dance along the neutral line as the Financial sector struggles to extend its upward climb. The sector's loss of momentum has left it trading with a 0.3% loss.

Meanwhile, the Nasdaq is still narrowly negative. Its loss comes amid pronounced weakness among semiconductor-related plays, which have dropped the Semiconductors HOLDRs ETF (SMH 34.14, -0.28) to a 0.8% loss. As for the Dow, it is sporting a modest gain as it trades near its session high with help from blue chips like Boeing (BA 73.97, +0.68), Coca Cola (KO 70.29, +0.78), and Procter & Gamble (PG 67.59, +0.66), all of which are up by roughly 1%. DJ30 +46.32 NASDAQ -4.07 SP500 +0.52 NASDAQ Adv/Vol/Dec 1030/865 mln/1470 NYSE Adv/Vol/Dec 1290/345 mln/1640

2:00 pm : A recent flurry of buying interest helped lift the broad market out of the red, but there hasn't been enough follow-through to take the S&P 500 off of the flat line.

Financials helped drive the stock market's recent upturn. Although the sector is still in negative territory with a 0.3% loss, it now sits at a session high that is substantially improved from the depths it probed this morning, when its loss was about 1%. DJ30 +40.42 NASDAQ -3.93 SP500 +0.16 NASDAQ Adv/Vol/Dec 1060/805 mln/1425 NYSE Adv/Vol/Dec 1345/320 mln/1575

1:30 pm : Results from an auction of 3-year Notes were released about 30 minutes ago, but Treasuries haven't really shown a reaction to the numbers.

The auction drew a bid-to-cover ratio of 3.44, dollar demand of $110.1 billion, and an indirect bidder participation rate of 34.6%. For comparison, the prior auction drew a bid-to-cover ratio of 3.30, dollar demand of $105.6 billion, and an indirect bidder rate of 27.7%, while an average of the past six auctions results in a bid-to-cover ratio of 3.42, dollar demand of $109.4 billion, and an indirect bidder rate of 36.2%. DJ30 +29.97 NASDAQ -5.99 SP500 -0.86 NASDAQ Adv/Vol/Dec 950/740 mln/1520 NYSE Adv/Vol/Dec 1195/295 mln/1730

1:00 pm : A lack of leadership and an absence of trading catalysts have left the broad market to spend the session chopping along with a modest loss.

Although up from session lows, Financials have been a steady drag on overall action. The sector was contending with a loss on the order of 1% when it set its session low about an hour ago, but it has managed to trim that to a 0.6% loss. Banks, both diversified and regional, have weighed the most on the space.

Energy stocks have also hampered action. The sector's 0.7% loss comes in conjunction with lower oil prices, which have been in the red all session and were most recently quoted with a 1.1% loss at $106.25 per barrel.

Defensive in nature and without any meaningful market weight, Utilities have been performing well all session. The sector currently sports a 1.0% gain with help from the likes of American Electric (AEP 38.68, +0.47) and Exelon (EXC 39.79, +0.88). Although not quite as strong, Telecom plays are performing well with a 0.5% gain.

The dollar has been contending with moderate selling for most of the session. It is currently down 0.2%. That makes for a lackluster follow-up to a 0.8% weekly gain. The greenback gained 1.3% the preceding week.

Treasuries have traded with modest strength today, but the benchmark 10-year Note has moved closer to the flat line with the imminent release of results from an auction of 10-year Notes.

There hasn't been a single dose of economic data released today, but the latest monthly Treasury Budget will be posted at 2:00 PM ET. DJ30 +28.95 NASDAQ -6.97 SP500 -1.49 NASDAQ Adv/Vol/Dec 960/675 mln/1495 NYSE Adv/Vol/Dec 1215/270 mln/1700

12:30 pm : Treasuries have drifted lower in recent trade, but overall they continue to benefit from a supportive bid. However, action in the space could become relatively volatile at the top of the hour, given the forthcoming results of an auction of 3-year Notes.DJ30 +24.56 NASDAQ -7.63 SP500 -1.80 NASDAQ Adv/Vol/Dec 910/610 mln/1520 NYSE Adv/Vol/Dec 1190/245 mln/1710

12:00 pm : Trade remains choppy as stocks slog along without any real source of leadership. A lack of headlines has also left stocks without catalysts for trade.

Market participants took their early cues from abroad. Overnight action in Asia was mixed as Japan's Nikkei fell 0.4%, Hong Kong's Hang Seng advanced 0.2%, and mainland China's Shanghai Composite closed 0.2% lower. Trade in Europe recently settled with a flat finish for Britain's FTSE, a 0.2% gain for Germany's DAX, and a 0.1% decline for France's CAC. DJ30 +14.72 NASDAQ -11.07 SP500 -3.31 NASDAQ Adv/Vol/Dec 860/535 mln/1555 NYSE Adv/Vol/Dec 1170/212 mln/1715

11:35 am : Action has been rather choppy, largely because of a lack of leadership.

The highly influential Financial sector has been under pressure all session and now sits at a low for the day. Its loss currently stands at 0.9%. Meanwhile, Tech, which is the largest sector by market weight, has been muddling along with a modest loss that currently stands at 0.2%.

Up 1.0%, utilities stocks are looking strong, as a group. Despite the impressiveness of their performance, Utilities lack the weight to give them any real influence over broad market trade. DJ30 +26.26 NASDAQ -8.56 SP500 -1.65 NASDAQ Adv/Vol/Dec 820/475 mln/1585 NYSE Adv/Vol/Dec 1110/190 mln/1755

11:00 am : Last week the Dow lagged its counterparts to book a 0.4% weekly loss, whereas the S&P 500 eked out a 0.1% weekly gain and the Nasdaq Composite scored a 0.4% weekly gain. However, this morning the Dow is leading its counterparts as it trades with a modest gain.

Even though many other energy-related plays are under pressure, Exxon Mobil (XOM 84.98, +0.68) has been a source of strength for the Dow. Blue chips Merck (MRK 37.97, +0.37) and 3M (MMM 87.37, +0.57) are also chipping in, but JPMorgan Chase (JPM 40.31, -0.72) and American Express (AXP 52.59, -0.61) are both dragging along. DJ30 +25.13 NASDAQ -7.93 SP500 -1.46 NASDAQ Adv/Vol/Dec 815/335 mln/1525 NYSE Adv/Vol/Dec 1100/140 mln/1705

10:35 am : In the energy space, Apr crude oil spent all of its electronic session in the red, extending losses after floor trading opened. Crude extended losses about 35 minutes ago, reaching a new session low of $105.38. In current action, crude is -1.7% at $105.67/barrel.

Apr natural gas traded in a tight consolidative pattern in negative territory in electronic trading. Nat gas chopped around between $2.26 and $2.27 in the early morning session and just fell to a new session low of $2.25/MMBtu. Nat gas is now -3.0% at $2.26/MMBtu.

In metals, Apr gold and May silver are also trading in the red. Both precious metals attempted to recover their losses after floor trading opened, but have lost steam. Silver just moved back to its current session low of $33.56 and gold is back near its session low as well. Gold is now -1.1% at $1693.30/oz and silver is -2.1% at $33.50/oz. May copper is down 3 cents to $3.83/lb.DJ30 +17.75 NASDAQ -4.76 SP500 -1.58 NASDAQ Adv/Vol/Dec 818/301 mln/1491 NYSE Adv/Vol/Dec 1024/129 mln/1775

10:05 am : Financials have come under increased pressure in recent trade, resulting in a 0.7% loss for the sector. Energy stocks are now getting clipped, too.

The Energy sector opened trade today in lackluster fashion, but has more recently been subjected to a relatively concerted selling effort that has dropped the group to a 0.6% loss. Drilling and oil well service related plays like Transocean (RIG 52.67, -1.09) and Halliburton (HAL 34.28, -0.60) have been hit with some of the hardest selling. The action comes in conjunction with a drop in oil prices, which are now off by 1.7% at $105.55 per barrel. DJ30 +12.11 NASDAQ -4.14 SP500 -2.16 NASDAQ Adv/Vol/Dec 1180/100 mln/970 NYSE Adv/Vol/Dec 1550/60 mln/1110

09:45 am : The stock market is up narrowly this morning with help from consumer staples plays (+0.4%), materials issues (+0.4%), industrials issues (+0.3%), and consumer discretionary plays (+0.3%). Financials (-0.3%) have been a source of weakness.

The Financial sector is currently hampered by shares of diversified financial services and banking plays like Citigroup (C 34.00, -0.20), JPMorgan Chase (JPM 40.72, -0.31), and US Bancorp (USB 29.48, -0.24). Several of Britain's major banks, including Lloyds Group (LYG 2.09, -0.03), Barclays (BCS 14.90, -0.25), and Royal Bank of Scotland (RBS 8.07, -0.17), are also in weak shape, but Swiss financial outfit UBS (UBS 13.62, +0.15) and German play Deutsche Bank (DB 46.93, +0.74) are looking strong. DJ30 +17.98 NASDAQ +2.00 SP500 +0.88 NASDAQ Adv/Vol/Dec NA/NA/NA NYSE Adv/Vol/Dec NA/NA/NA

09:15 am : S&P futures vs fair value: +0.20. Nasdaq futures vs fair value: flat. A recent bid has taken stock futures to the flat line in the final minutes of premarket trade. Commodities remain decidedly weak, however. General weakness in the commodity complex has the CRB Index contending with a 0.8% loss. The dollar isn't getting much love from early market participants. The lack of support has left it to edge lower so that it lags a basket of major foreign currencies by about 0.1%. Treasuries have managed to attract some solid buying interest, or at least enough to take the yield on the benchmark 10-year Note back to 2.00%. Results from an auction of 3-year Notes will be released later today (1:00 PM ET). The only economic item on the calendar is the monthly Treasury Budget, which will be posted this afternoon (2:00 PM ET).

09:05 am : S&P futures vs fair value: -0.10. Nasdaq futures vs fair value: -1.00. General weakness in the commodity complex has the CRB Index contending with a 0.8% loss, which comes on the heels of two consecutive weekly losses that each exceeded 1%. This morning oil prices are down 1.4% to $105.90 per barrel in the opening minutes of pit trade. Natural gas has extended its downtrend by falling another 2.2% to $2.37 per MMBtu. Selling has extended to precious metals, such that gold prices are down 0.6% to $1701.50 per ounce, while silver is off by 0.9% at $33.90 per ounce.

08:35 am : S&P futures vs fair value: -2.00. Nasdaq futures vs fair value: -5.50. Domestic stock futures continue to trade narrowly below the neutral line as premarket participants assess mixed-to-moderately weak action abroad. Germany's DAX is currently down 0.2%. Meanwhile, France's CAC has fallen to a 0.4% loss and Britain's FTSE is off by 0.3%. Trade in Germany has been weighed down by relatively widespread weakness. Commerzbank and Volkswagen are among the poorest performers in the German bourse, but BMW and Daimler are both boasting impressive gains. As for action in France, Alcatel-Lucent (ALU 2.32, -0.06) and Credit Agricole are dragging down broad market action. Natixis and STMicroelectronics are both sporting strong gains, however. Britain's FTSE has been hurt by weakness in banking plays Lloyds Group (LYG 2.12, +0.00), Barclays (BCS 14.74, -0.41), and Royal Bank of Scotland (RBS 8.02, -0.22). Vodafone (VOD 26.62, +0.04) has displayed strength in the face of the broad market weakness.

Overnight action in Asia was relatively mixed in that the Nikkei fell 0.4%, the Hang Seng advanced 0.2%, and the Shanghai Composite closed 0.2% lower. Japan's Nikkei was weighed down by the likes of Sharp Corp., Mizuho Financial (MFG 3.33, +0.00), and Mitsubishi UFJ, but Sumco Corp., Kobe Steel, and Hitachi Ltd. provided support. Data from Japan showed that the country's latest monthly core machinery orders log climbed by 3.4%, which was better than what many had expected. Hong Kong's Hang Seng was helped higher by banking plays like Industrial & Commercial Bank of China and Bank of China. Enerchina Holdings was a particularly strong performer. However, pronounced weakness in Merdekea Resources, South Sea Petroleum Holdings, and China Agri-Products Exchange acted as a counterbalance. Mainland China's Shanghai Composite was hampered by weakness in China Communications Construction, China Minsheng Banking, and Soochow Securities, among others. Jiangsu Sunshine was a strong performer. Anhui Liuguo Chemical also traded with strength.

Note: ticker quotes reflect US premarket prices.

08:05 am : S&P futures vs fair value: -1.50. Nasdaq futures vs fair value: -3.70. Stocks managed to finish trade last week narrowly above where it began, resulting in the ninth weekly gain for the S&P 500 in 10 tries. Stocks aren't benefiting from any follow-through buying, though. Instead, broad market stock futures are down slightly amid mixed action abroad. The dollar is also narrowly below the neutral line, as measured against a collection of competing currencies. Commodities are decidedly weaker this morning. Prior to the open of pit trade oil futures prices are down about 1% to $106.25 per barrel. Meanwhile, gold futures prices are off by about 0.8% at roughly $1699 per ounce. Treasuries are displaying some strength. Results from an auction of 3-year Notes will be posted at 1:00 PM ET. The only piece of economic data due today is the Treasury Budget for February. It will be released at 2:00 PM ET.

06:22 am : [BRIEFING.COM] S&P futures vs fair value: +1.30. Nasdaq futures vs fair value: +0.30.

06:22 am : Nikkei...9889.86...-39.90...-0.40%. Hang Seng...21134.18...+48.20...+0.20%.

06:22 am : FTSE...5885.68...-1.80...0.00. DAX...6905.98...+25.80...+0.40%.

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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