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 Post subject: March 22nd Thursday 2012 Emini TF ($TF_F) points +10.60
PostPosted: Thu Mar 22, 2012 10:07 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:
032212-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit-1060.png
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click on the above image to view today's performance verification

Price Action Trade Performance for Today: +10.60 points or $1060 dollars in the Russell 2000 Emini TF ($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=1173.

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 22 (Bloomberg) -- Bloomberg's Pimm Fox and Deborah Kostroun report on the performance of the U.S. equity market today. U.S. stocks retreated, trimming the longest monthly rally since September 2009 for the Standard & Poor's 500 Index, as manufacturing contracted in China and Europe, and FedEx Corp. tumbled amid a disappointing forecast.

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Market Update

4:30 pm : Sellers were stirred to action by disappointing economic data from both Europe and China. Their efforts kept the major equity averages in negative territory all session.

Sentiment soured ahead of the open as market participants responded to news that China's latest PMI fell to a four-month low that suggested further contraction in activity. Things didn't look any better in Europe, where the broad eurozone PMI hit a three-month low that also pointed to a slowdown in activity.

Given the decidedly negative implications of such news, a better-than-expected initial jobless claims tally was shrugged off. Consistent with recent trends, the latest tally fell to a multi-year low of 348,000, which is less than the 355,000 initial jobless claims that had been broadly expected.

Once trade opened, the broad market chopped its way down to a loss of almost 1% before it found support. Its attempt to work its way upward eventually lost momentum and gave way to renewed selling, but all three major equity averages managed to hold the session lows set in the early going. That gave confidence to some traders, who bid stocks higher in a late flurry of buying.

Despite the late lift, Consumer Staples and Utilities were the only two sectors to settle in positive territory. They eked out gains of only 0.2% and 0.1%, respectively.

Cyclical plays performed poorly throughout the entire session; some of their losses were tied to weakness among commodities. As such, the Energy sector fell more than 2% so that it is now down more than 4% in only three days as another concerted selling effort took crude oil to $105.37 per barrel for a 1.7% loss. Oil prices actually probed a monthly low near $104.50 per barrel prior to the close of pit trade, while natural gas prices fell nearly 4% to $2.27 per MMBtu for a lifetime closing low on the April futures contract.

FedEx (FDX 92.50, -3.32) shares fell hard to a fresh weekly low, despite an upside earnings response. Discover Financial (DFS 32.49, +0.85) shares rallied to a strong gain after opening the day in the red amid what was initially an underwhelming response to the better-than-expected bottom line results that the firm reported. Nike (NKE 110.99, +0.55) overcame selling pressure to score a solid gain ahead of its latest quarterly report.

The dollar gave up an early gain to trade near the neutral line for most of the session, but the yen rallied sharply. By session's end it was up 1.0% against the greenback, putting the currency at 82.50 yen per dollar.

Advancing Sectors: Consumer Staples +0.2%, Utilities +0.1%
Declining Sectors: Consumer Discretionary -0.2%, Tech -0.3%, Health Care -0.3%, Telecom -0.5%, Industrials -1.1%, Financials -1.4%, Materials -1.6%, Energy -2.1%DJ30 -78.48 NASDAQ -12.00 NQ100 -0.2% R2K -1.0% SP400 -1.1% SP500 -10.11 NASDAQ Adv/Vol/Dec 777/1.50 bln/1719 NYSE Adv/Vol/Dec 740/763 mln/2243

3:30 pm : Overall weakness in the commodity complex dropped the CRB Index for a 1.2% loss today. It is now on pace for a weekly loss of 1.8%, which stands as its worst weekly performance in about two months.

Another concerted selling effort took crude oil to $105.37 per barrel for a 1.7% loss. Along the way it probed a monthly low near $104.50 per barrel. Playing a part in oil's latest leg lower -- the energy component has fallen about 4% in only three days -- were reports that review of permit applications for the southern leg of the Keystone Pipeline will likely be expedited.

Natural gas also spent all of pit trade in the red, dropping to a session low of $2.25 per MMBtu before booking a 3.8% loss at $2.27 per MMBtu, which stands as a lifetime closing low for the April contract. Weakness was exacerbated by news that weekly inventories experienced a bigger build than what had been widely expected.

Precious metals prices were also clipped. Gold prices descended as low as $1627.50 per ounce before rebounding. The yellow metal settled with a 0.5% loss at $1641.80 per ounce. Silver slumped to $31.40 per ounce for a 2.6% loss. DJ30 -67.43 NASDAQ -11.23 SP500 -9.20 NASDAQ Adv/Vol/Dec 615/1.18 bln/1875 NYSE Adv/Vol/Dec 645/500 mln/2320

3:00 pm : Stocks are drifting lower as they enter the final hour of the session. The action has the three major equity averages at new afternoon lows.

After the close Accenture (ACN 63.41, -0.34), Micron (MU 8.61, -0.12), and Nike (NKE 110.07, -0.37) will unveil their latest quarterly results. Darden Restaraunts (DRI 51.66, -0.67) and KB Home (KBH 11.12, -0.19) are on deck for tomorrow morning. The only piece of economic data on tap for tomorrow is the monthly new home sales report at 10 AM ET. DJ30 -86.96 NASDAQ -16.49 SP500 -11.40 NASDAQ Adv/Vol/Dec 685/1.02 bln/1780 NYSE Adv/Vol/Dec 700/440 mln/2240

2:30 pm : Stocks remain mired in negative territory with varied losses -- cyclical plays remain under the most pressure, while defensive-oriented issues display relative strength by limiting losses.

However, traditional safe haven gold has hardly been a home for safety seekers today. The yellow metal ended pit trade narrowly above $1640 per ounce for a 0.5% loss. It remains there in electronic trade.

Meanwhile, Treasuries have traded only moderately higher today. As for the dollar, it is barely up at all against a basket of major foreign currencies. DJ30 -74.88 NASDAQ -11.74 SP500 -9.82 NASDAQ Adv/Vol/Dec 670/950 mln/1785 NYSE Adv/Vol/Dec 715/405 mln/2230

2:00 pm : The effort to trim losses has slowed, leaving stocks to drift lower in recent trade. As a consequence, the Volatility Index continues to trade more than 5% higher today. Despite such a sharp move, the VIX is still near multi-year lows.DJ30 -72.84 NASDAQ -12.44 SP500 -10.09 NASDAQ Adv/Vol/Dec 690/875 mln/1750 NYSE Adv/Vol/Dec 715/375 mln/2220

1:30 pm : At slightly less than 2.26%, the yield on the 10-year Note is at its lowest level in about a week. Its descent from a multi-month high near 2.40% coincides with the stock market's struggle to extend its streak of gains that have driven the S&P 500 to 10 weekly gains in 11 attempts.DJ30 -66.45 NASDAQ -9.21 SP500 -8.82 NASDAQ Adv/Vol/Dec 660/800 mln/1770 NYSE Adv/Vol/Dec 690/345 mln/2250

1:00 pm : Despite news that weekly initial jobless claims declined more than expected to a multi-year low of 355,000, stocks were driven down this morning amid disappointment over the latest PMI data from both Europe and China. Pressure persisted until the S&P 500 fell nearly 1% to come into contact with the 1390 line, but support there provided a floor for stocks to start working their way higher.

Although broad market losses have been slashed, the Energy sector remains mired near its session low with a 2.0% loss, which extends a recent downtrend that has the sector off by about 4% in only three days. Weakness has coincided with a drop in crude oil prices. Crude oil contracts were last quoted with a 2.2% loss at about $105 per barrel, but the May contract for the energy component traded to a monthly low near $104.50 per barrel earlier today.

Up 0.2%, Consumer Staples stocks are actually today's best performers. In fact, they currently stand as the only major sector sporting a gain.

Although market participants are showing an increased aversion to risk, the dollar hasn't garnered a great deal of buying interest. The dollar is up narrowly against the euro, but the yen is most impressive with its rally of about 1.2% against the dollar. The Japanese currency now trades at 82.35 yen per dollar. DJ30 -64.06 NASDAQ -7.93 SP500 -8.43 NASDAQ Adv/Vol/Dec 605/740 mln/1790 NYSE Adv/Vol/Dec 670/320 mln/2265

12:30 pm : The Dollar Index was up modestly this morning, but has since given up its gain to trade at the flat line. Most of that downturn is due to a stronger yen, which has rallied so that it now trades at 82.43 yen per dollar -- that reflects a 1.1% drop in the yen-dollar exchange rate.

The dollar is still up against both the euro and the sterling pound, though. The euro is presently off by 0.2% at about $1.32, while the sterling pound is down 0.3% to $1.58. DJ30 -70.83 NASDAQ -12.05 SP500 -9.88 NASDAQ Adv/Vol/Dec 600/680 mln/1795 NYSE Adv/Vol/Dec 670/295 mln/2255

12:00 pm : Stocks remain on the mend as they work their way up from session lows. There isn't really an actual leader lifting the broad market, but it is clear that Energy stocks are struggling to participate. As such, the sector continues to wrestle with persistent selling pressure as it trades with a 1.8% loss.DJ30 -65.23 NASDAQ -12.65 SP500 -9.46 NASDAQ Adv/Vol/Dec 495/600 mln/1880 NYSE Adv/Vol/Dec 605/260 mln/2310

11:30 am : The S&P 500 recently found support near the 1390 line. That has provided a floor for the broad market measure to make a modest move higher.

Consumer Staples stocks are displaying relative strength today. Currently at the flat line, Consumer Staples stand as the only sector that is not in negative territory. Procter & Gamble (PG 67.55, +0.35) has been a primary source of support for the sector. DJ30 -79.58 NASDAQ -15.39 SP500 -10.39 NASDAQ Adv/Vol/Dec 490/525 mln/1860 NYSE Adv/Vol/Dec 585/230 mln/2290

11:00 am : Attempts to trim losses have failed, leaving stocks to chop their way down to new session lows.

Energy stocks continue to weigh heavily on trade. The sector is now down nearly 2% as it extends its downtrend, which has been worsened by a precipitous drop in oil prices. Oil prices recently set a new session low of $104.75 per barrel, which makes for a 2.4% loss, as it trades near its one-month low. DJ30 -87.83 NASDAQ -19.89 SP500 -12.06 NASDAQ Adv/Vol/Dec 505/365 mln/1785 NYSE Adv/Vol/Dec 655/170 mln/2165

10:35 am : Natural gas prices made a precipitous drop shortly before the release of weekly inventory data, which showed a build of 11 bcf when a build of 10 bcf had been widely anticipated. The energy component is now grappling with aggressive selling pressure that has pushed prices to about $2.39 per MMBtu for a loss of 2.8%. Prices were recently down in excess of 3%.

Crude oil prices continue to contend with concerted selling, too. Futures prices were recently quoted with a 2.0% loss at $105.10 per barrel.

Precious metals have been implicated in the commodity sell-off. The action has left gold to trade with a 1.0% loss at $1633.50 per ounce, while silver sits at $31.45 per ounce with a 2.4% loss.

Overall weakness in the commodity complex has the CRB Index down 1.2%, which stands as the CRB's second loss of more than 1% in only three days. DJ30 -67.43 NASDAQ -19.15 SP500 -10.51 NASDAQ Adv/Vol/Dec 605/280 mln/1640 NYSE Adv/Vol/Dec 715/140 mln/2075

10:05 am : Leading Indicators for February increased by 0.7%, which is more than the 0.6% increase that had been generally expected among economists polled by Briefing.com. The better-than-expected results come after a downwardly revised increase of 0.2% in the prior month.

Stocks are attempting to push up from morning depths. Thus far, the Nasdaq has done the best job of cutting its losses. Its climb coincides with a move by the Tech sector to the neutral line. DJ30 -45.63 NASDAQ -7.88 SP500 -6.68 NASDAQ Adv/Vol/Dec 540/160 mln/1630 NYSE Adv/Vol/Dec 615/90 mln/2100

09:45 am : Stocks are down markedly this morning. The move lower has been broad based, but cyclical plays are in the worst shape.

Already down 1.3% today, the Energy sector continues to wrestle with persistent selling pressure. In only three days the sector has fallen in excess of 3%. A 2.1% drop by oil prices this morning to about $105 per barrel certainly hasn't helped the sector steady itslef.

Financials, Industrials, and Materials -- all down on the order of 1% -- are also weighing on early trade. DJ30 -59.41 NASDAQ -15.33 SP500 -9.21 NASDAQ Adv/Vol/Dec NA/NA/NA NYSE Adv/Vol/Dec NA/NA/NA

09:15 am : S&P futures vs fair value: -7.40. Nasdaq futures vs fair value: -10.50. Stock futures and commodity futures prices remain under pressure as market participants trim risk. The effort comes in response to disappointing PMI data from both Europe and China. Neither corporate news nor a multi-year low in weekly initial jobless claims have been able to meaningfully improve sentiment. Amid such risk aversion the dollar has made a modest move higher; it currently leads a collection of competing currencies by 0.2%. Treasuries have barely advanced, however. In turn, the yield on the benchmark 10-year Note still stands near 2.30%.

09:05 am : S&P futures vs fair value: -7.60. Nasdaq futures vs fair value: -10.80. Commodities are back under pressure this morning. The action has the CRB Index down 0.7%. Among its more commonly quoted constituents, crude oil prices are down 1.7% to $105.50 per barrel in early pit trade. Natural gas prices are down 0.6% to $2.44 per MMBtu ahead of weekly inventory numbers at 10:30 AM ET. Precious metals are grappling with aggressive selling pressure, too. Specifically, gold prices are down almost 1.0% to $1634.40 per ounce, while silver sits at $31.61 per ounce with a 2.0% loss.

08:35 am : S&P futures vs fair value: -6.30. Nasdaq futures vs fair value: -8.00. The latest initial jobless claims tally fell 5,000 week-over-week to a multi-year low of 348,000, which is less than the 355,000 initial jobless claims that had been expected, on average, among economists polled by Briefing.com. Meanwhile, continuing claims totaled 3.35 million, down from 3.36 million in the prior week. Despite the positive trend behind the jobless claims picture, stock futures continue to trade with weakness.

08:05 am : S&P futures vs fair value: -7.80. Nasdaq futures vs fair value: -11.00. Some late selling undercut the major equity averages in the prior session, but pressure persists this morning. The negative bias comes amid renewed weakness in Europe, where aggressive selling has the continent's major bourses wrestling with losses in excess of 1% following a disappointing PMI readings from both the eurozone and China. Corporate news has remains light. FedEx (FDX 95.22, -0.60) posted better-than-expected bottom line results, but its forecast was somewhat underwhelming. ConAgra (CAG 26.15, -0.21) is also grappling with some premarket pressure, despite an upside earnings surprise of its own. Note: ticker quotes reflect premarket prices. Today's economic calendar features weekly initial jobless claims and monthly leading economic indicators, which are due at 8:30 AM ET and 10:00 AM ET, respectively. The latest weekly natural gas inventory numbers will be released at 10:30 AM ET.

06:17 am : [BRIEFING.COM] S&P futures vs fair value: -7.70. Nasdaq futures vs fair value: -11.00.

06:17 am : Nikkei...10127.08...+40.60...+0.40%. Hang Seng...20901.56...+44.90...+0.20%.

06:17 am : FTSE...5835.01...-56.90...-1.00%. DAX...6953.55...-117.80...-1.70%.

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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