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 Post subject: March 21st Wednesday 2012 Emini TF ($TF_F) points +9.10
PostPosted: Thu Mar 22, 2012 6:17 am 
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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: +9.10 points or $910 dollars in the Russell 2000 Emini TF ($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=1172.

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 21 (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 down a second day, on concern thebest first-quarter since 1998 has outpaced economic prospects and as Baker Hughes Inc. drove a selloff in energy shares.

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Market Update

4:30 pm : Choppy, listless trade today kept the stock market near the neutral line, but a late flurry of selling resulted in a modest loss.

Amid a dearth of headlines and directional cues this morning stocks started the session essentially unchanged. Financials had offered some support, but the sector soon faltered. Although it failed to recover, the Financial sector was able to limit downward movement. It settled with a 0.4% loss.

Energy stocks had a more adverse influence over broad market trade, though. Since the open Energy had to wrestle with stiff selling, making it the worst performing sector for virtually the entire session. As a group Energy stocks shed 1.0%, but oil and gas equipment and services plays encountered the most pronounced pressure. Their weakness came despite a marked push by oil prices up above $107 per barrel.

Earnings were limited to only a handful of companies. Oracle (ORCL 29.41, -0.69) was among them. Shares initially benefited from a positive response to better-than-expected bottom line results, but enthusiasm died and the stock descended steadily into the close, settling with a sizable loss only narrowly above session lows. The rest of the Tech sector, which finished with a 0.1% loss, saw gains evaporate in response to selling in the final stretch of trade.

Volatility was down sharply amid the stock market's lackluster action, but some late selling pressure caused the Volatility Index to move back above 15. By the closing bell it was still down more than 3% for the day, though.

The dollar didn't do much today. It made a couple of modest moves up from the flat line, but by session's end it led a basket of competing currencies by less than 0.1%.

While oil had a strong session, most other commodities staged varied gains after suffering from aggressive selling pressure in the prior session. Still, the CRB Index only eked out a gain of 0.1%.

Treasuries attracted buyers after the yield on the 10-year Note traded near a multi-month high near 2.40% yesterday. The advance today took the yield on the benchmark Note back down to about 2.30%.

Economic data was limited in scope. It featured monthly existing home sales numbers, which showed that unit sales hit an annualized pace of 4.59 million units in February. That's on the order of the 4.60 million units that had been broadly expected. As an aside, the prior month's pace was revised upward to 4.63 million. Comments from Fed Chairman Bernanke and Treasury Secretary Geithner in a testimony on Europe's economic crisis did nothing to swing stocks or other assets.

Advancing Sectors: Telecom +0.3%, Consumer Staples +0.1%, Consumer Discretionary +0.1%
Unchanged: Industrials, Materials
Declining Sectors: Tech -0.1%, Health Care -0.1%, Utilities -0.2%, Financials -0.4%, Energy -1.0%DJ30 -45.57 NASDAQ +1.17 NQ100 +0.0% R2K +0.1% SP400 -0.1% SP500 -2.63 NASDAQ Adv/Vol/Dec 1275/1.53 bln/1216 NYSE Adv/Vol/Dec 1469/726 mln/1498

3:30 pm : Crude oil prices closed at $107.22 per barrel for a gain of $1.12. Its high was set at $107.70 per barrel shortly before floor trade ended. Prices initially had only a moderately positive response to bullish inventory data.

Natural gas prices overcame early weakness to settle a penny shy of its session high at $2.36 per MMBtu for a gain of $0.02.

Gold gained $3.10 to settle pit trade at $1650.40 per ounce, but silver scored a $0.34 gain to settle at $32.23 per ounce. Both spent the entire session in positive territory. DJ30 -18.05 NASDAQ +11.41 SP500 +0.71 NASDAQ Adv/Vol/Dec 1460/1.20 bln/1025 NYSE Adv/Vol/Dec 1655/455 mln/1295

3:00 pm : The stock market remains mired near the neutral line as it enters the final hour of the session. Coming up after the close are quarterly results from Discover Financial (DFS 31.69, -0.17). Tomorrow morning brings the latest numbers from ConAgra (CAG 26.28, -0.03), Dollar General (DG 44.75, -0.50), and FedEx (FDX 95.48, +0.84), while tomorrow's economic calendar features weekly initial jobless claims and monthly leading economic indicators.DJ30 -28.65 NASDAQ +10.80 SP500 -0.65 NASDAQ Adv/Vol/Dec 1445/1.08 bln/1025 NYSE Adv/Vol/Dec 1590/410 mln/1355

2:30 pm : The major equity averages are staying close to the neutral line, but the Telecom sector has put together a solid gain of 0.5%. Telecom plays lack market weight, though, making it difficult for the sector to provide any real lift to the broad market.

Energy stocks continue to drag along with sizable losses. The sector is currently down 1.0% and has been the worst performing sector for virtually the entire session.

Meanwhile, Treasuries have added to their gains, putting the 10-year Note at a session high. In turn, the yield on the benchmark Note is now at a session low that is just under 2.30%. DJ30 -26.08 NASDAQ +10.58 SP500 -0.40 NASDAQ Adv/Vol/Dec 1450/975 mln/1015 NYSE Adv/Vol/Dec 1575/365 mln/1355

2:00 pm : The major equity averages continue to muddle along in mixed fashion. Action has been generally lackluster since the open.DJ30 -30.05 NASDAQ +9.67 SP500 -0.75 NASDAQ Adv/Vol/Dec 1325/915 mln/1105 NYSE Adv/Vol/Dec 1445/345 mln/1480

1:30 pm : The S&P 500 continues to dance along the neutral line while the Dow trades with a narrow loss and the Nasdaq holds onto a narrow gain.

Although overall action has been lackluster, volatility is down sharply today. Specifically, the Volatility Index, often euphemistically referred to as the Fear Gauge, is down 6%, but still above the multi-year low set recently. DJ30 -22.86 NASDAQ +7.50 SP500 -0.70 NASDAQ Adv/Vol/Dec 1320/850 mln/1100 NYSE Adv/Vol/Dec 1430/320 mln/1455

1:00 pm : The broad market is back at the flat line after fighting off a mild bout of mid-morning selling pressure, but Energy stocks continue to drag along with considerable weakness.

There weren't many headlines for traders to use as directional cues this morning. That, coupled with mixed action abroad, left the broad market to start the session near the neutral line before choppy action and a lack of leadership invited selling. The downturn was relatively broad based, but Financials made a relatively pronounced pullback. The sector had offered modest support in the early going, but that was checked by a bout of selling pressure that has kept it in negative territory. The Financial sector is currently off by 0.3%.

Energy stocks have been the poorest performers of the day. Extending a slide of more than 1% in the prior session, the Energy sector is down 1.0% today. The move comes in the face of higher oil prices, which were last quoted at $107 per barrel for a 0.9% gain.

Although its gain is a relatively tame 0.3%, the Tech sector, which is the largest by market weight, has helped take the broad market back to the flat line. Oracle (ORCL 29.70, -0.40) was an early leader among Tech issues, but it has steadily descended to a sizable loss amid dwindling enthusiasm over the company's latest quarterly report.

Monthly existing home sales made up the only item on the economic calendar. The pace of sales was down from the prior month's upwardly revised rate, but they were still on par with what had been widely expected.

Fed Chairman Benanke and Treasury Secretary Geithner both testified on Europe's economic crisis, but the comments weren't exactly riveting. Bernanke noted that the reduction in Europe's financial stresses is positive for the U.S., given their financial connections. DJ30 -14.23 NASDAQ +10.54 SP500 +0.44 NASDAQ Adv/Vol/Dec 1450/775 mln/955 NYSE Adv/Vol/Dec 1600/295 mln/1300

12:30 pm : Treasuries are trading with solid gains. In fact, the 10-year Note is up by about a half of a point. That move has trimmed its yield to almost 2.30% after it had been at almost 2.40% during trade in the prior session. Gains by Treasuries remain even though the stock market has managed to work its way out of the red and back to the flat line.DJ30 -12.38 NASDAQ +10.27 SP500 +0.49 NASDAQ Adv/Vol/Dec 1440/690 mln/955 NYSE Adv/Vol/Dec 1650/270 mln/1235

12:00 pm : The dollar has slowly worked its way up from the flat line to trade with a tepid gain of 0.2%. Week to date, the dollar is essentially unchanged.

Despite the dollar's improvement, oil prices have pushed up to new session highs. The energy component was last quoted with a 1.1% gain at almost $107.20 per barrel.

Energy stocks have been slow to benefit from oil's bounce. The sector is still down 1.0% for the day, and is in worse shape than any other group. DJ30 -35.05 NASDAQ +3.58 SP500 -2.19 NASDAQ Adv/Vol/Dec 1360/605 mln/1015 NYSE Adv/Vol/Dec 1540/240 mln/1315

11:30 am : Both the Dow and S&P 500 remain in negative territory with modest losses, but the Nasdaq has managed to remain at the neutral line. SAIC (SAI 13.94, +0.79) is a primary leader among the Nasdaq's constituents, despite the company's disappointing quarterly earnings results. Oracle (ORCL 30.21, +0.10) was a source of strength in the early going, but its gain has been pared so that it is now at a session low and holding on to a modest gain.DJ30 -46.62 NASDAQ +0.98 SP500 -3.41 NASDAQ Adv/Vol/Dec 1125/500 mln/1220 NYSE Adv/Vol/Dec 1260/230 mln/1570

11:00 am : Stocks have descended to new session lows. The downturn has been broad based, but Energy issues continue to lead losses. As a group Energy stocks are now down 1.2%, which is double the loss of the next poorest performing sector -- Financials.

Financials offered some support to the broad market in the early going, but the sector has since faltered. Financials are now down 0.6%, collectively. Comerica (CMA 32.44, -0.76), Morgan Stanley (MS 20.04, -0.37), and Aflac (AFL 46.68, -0.88) are among the sector's poorest performers. DJ30 -52.00 NASDAQ -2.43 SP500 -4.11 NASDAQ Adv/Vol/Dec 1225/405 mln/1080 NYSE Adv/Vol/Dec 1425/165 mln/1360

10:30 am : Crude oil prices have made a modest move higher to trade at $106.50 per barrel with a 0.4% gain following the latest weekly inventory report. The report featured a draw of 1.6 million barrels, which contrasts with the consensus call for a build of 2.2 million barrels. In the minutes leading up to the report, oil prices were up a relatively tepid 0.2%.

Natural gas prices have pulled up from their morning lows, but continue to grapple with relatively aggressive selling pressure in that prices currently trade with a 0.8% loss at $2.41 per MMBtu.

Precious metals have steadily worked their way higher this morning. The effort has gold sporting a gain of 0.6% at $1656 per ounce, while silver sits at $32.26 per ounce, which makes for a 1.3% gain.

Overall action in the commodity complex has the CRB Index up 0.3%. It was flat about 90 minutes ago. DJ30 -12.15 NASDAQ +2.60 SP500 -0.93 NASDAQ Adv/Vol/Dec 985/275 mln/1240 NYSE Adv/Vol/Dec 1140/125 mln/1590

10:00 am : Stocks have surrendered opening gains in response to a recent bout of selling pressure, which recently forced the Dow and the S&P 500 into the red.

Energy stocks continue to drag on overall action. The sector is now down about 0.8%. In only two days the Energy sector has tumbled more than 2%. Oil and gas equipment and services stocks have been a primary source of weakness for the sector.

Financials have had their early gains checked, leaving the sector to trade at the neutral line. Up more than 20% year to date, Financials have been the driving force behind the broad market's climb to multi-year highs.

Just released, existing home sales in February hit an annualized pace of 4.59 million units, which is on par with the rate of 4.60 million units that had been expected, on average, among economists polled by Briefing.com. As an aside, the prior month's pace was revised upward to 4.63 million. DJ30 -9.09 NASDAQ +2.83 SP500 -1.64 NASDAQ Adv/Vol/Dec 1355/120 mln/755 NYSE Adv/Vol/Dec 1725/70 mln/895

09:45 am : The major equity averages are up narrowly in the opening minutes of trade. Financials are a source of support, as they were in the prior session. Strong gains by Goldman Sachs (GS 127.16, +1.14) have made the stock an early standout in the space. Overall, though, the Financial sector is up just 0.3%.

In an extension of the action they experienced yesterday, Energy stocks continue to wrestle with sellers. As such, the sector is down another 0.5% this morning. The sector's slide comes in the face of firmer oil prices, which are currently up 0.5% to $106.60 per barrel. DJ30 +15.28 NASDAQ +9.95 SP500 +2.10 NASDAQ Adv/Vol/Dec NA/NA/NA NYSE Adv/Vol/Dec NAN/NA/NA

09:15 am : S&P futures vs fair value: +0.30. Nasdaq futures vs fair value: +0.30. Stock futures are essentially flat this morning. The tepid tone comes amid mixed action abroad, mixed trade in the commodity complex, a flat dollar, and an absence of economic data. Corporate news has been limited, too. That siad, Oracle (ORCL 30.72, +0.62) and General Mills (GIS 38.50, -0.26) are both garnering attention following their latest quarterly reports, but neither announcement has had any meaningful impact on broad market sentiment. Note: ticker quotes reflect premarket prices. Fed Chairman Bernanke and Treasury Secretary Geithner are scheduled to deliver a testimony on the European debt crisis at 9:30 AM ET, although prepared remarks from Bernanke are already in circulation. The only item on the economic calendar is monthly existing home sales numbers, scheduled for 10:00 AM ET.

09:05 am : S&P futures vs fair value: +1.10. Nasdaq futures vs fair value: +1.50. Overall action in the commodity complex is mixed, leaving the CRB Index to trade at the flat line. Crude oil prices are up 0.3% to $106.35 per barrel in early pit trade. Prices could experience some volatility with the release of weekly oil inventory numbers at 10:30 AM ET. Natural gas prices have pushed lower with the open of pit trade. The energy component currently trades with a 1.2% loss at $2.40 per MMBtu. Precious metals are up after suffering sharp losses in the prior session. Specifically, gold has gained 0.3% to trade at $1652 per ounce, while silver sports a 0.8% gain at $32.10 per ounce.

08:35 am : S&P futures vs fair value: +0.30. Nasdaq futures vs fair value: +0.30. Domestic stock futures have drifted down to the flat line in recent trade. Meanwhile, Europe's major bourses are currently contending with moderate selling. Germany's DAX is currently down 0.2% amid weakness in Metro AG, Thyssenkrupp, and Infineon Tech. Adidas is down markedly after the stock was downgraded by analysts at Morgan Stanley. Deutsche Post and Commerzbank have offered support, however. Britain's FTSE is presently off by just 0.1%. Royal Bank of Scotland (RBS 8.87, -0.26) has been a heavy drag, but its weakness has been tempered by strength in Vodafone (VOD 27.40, +0.04) and Sainsbury Plc. The former has been helped by a positive opinion of the stock among analysts at Goldman Sachs, while the latter posted some pleasing quarterly sales numbers. France's CAC is currently off by 0.2%, dragged down by Credit Agricole and Societe Generale. Capgemini has been a source of strength after analysts at Societe Generale issued a positive opinion of the company's shares.

Overnight action in Asia was relatively mixed in that Japan's Nikkei slipped 0.6%, Hong Kong's Hang Seng edged down for a 0.2% loss, and China's Shanghai Composite eked out a 0.1% gain. Losses in Japan were led by financial-related issues like Shinsei Bank, Sumitomo Mitsui Trust, and Nomura Holdings (NMR 4.88, +0.00), but financial plays were more mixed in Hong Kong and China. Property plays were primary culprits in the Hang Seng's loss.

Note: all ticker quotes reflect U.S. premarket prices.

08:05 am : S&P futures vs fair value: +3.50. Nasdaq futures vs fair value: +6.00. Broad market futures are up modestly this morning, although action abroad has been mostly mixed. Shares of Oracle (ORCL 30.60, +0.50) are benefiting from a strong premarket bid that has come on the back of the company's latest quarterly report, released last evening. General Mills (GIS 38.70, -0.06) reported this morning, but the stock has seen limited movement ahead of the open. Note: ticker quotes reflect premarket prices.

Commodities were cut down aggressively in the prior session, but the tone of trade there has since improved, such that crude oil futures are up 0.5% to $106.60 per barrel ahead of pit trade and weekly oil inventory numbers at 10:30 AM ET. Meanwhile, gold prices are up incrementally to $1649 per ounce as silver sports a 0.6% gain at $32 per ounce. An unchanged dollar has had little influence.

Economic data remains limited in that the only item on the calendar is the latest monthly existing home sales figure, which will be released at 10:00 AM ET.

06:15 am : [BRIEFING.COM] S&P futures vs fair value: +3.60. Nasdaq futures vs fair value: +5.80.

06:15 am : Nikkei...10086.49...-55.50...-0.60%. Hang Seng...20856.63...-31.60...-0.20%.

06:15 am : FTSE...5909.36...+18.00...+0.30%. DAX...7078.67...+23.70...+0.30%.

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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