TheStrategyLab.com Price Action Trading Support Forum

Forum for price action traders that want to learn WRB Analysis basic tutorial chapters 1, 2 and 3 prior to purchasing our advance trade methods. Hashtags: #wrbanalysis #wrbzone #wrbhiddengap #priceaction #trading
It is currently Thu Mar 28, 2024 3:44 pm

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: April 11th Wednesday 2012 Emini TF ($TF_F) points +8.00
PostPosted: Wed Apr 11, 2012 11:14 pm 
Offline
Site Admin

Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
Image

Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)

Attachment:
041112-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit-800.png
041112-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit-800.png [ 76.33 KiB | Viewed 279 times ]

click on the above image to view today's performance verification

Price Action Trade Performance for Today: +8.00 points or $800 dollars in the Russell 2000 Emini TF ($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=103&t=1191.

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=151&t=1432

-----------------------------

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.

Attachment:
041112-Key-Price-Action-Markets.png
041112-Key-Price-Action-Markets.png [ 539.23 KiB | Viewed 291 times ]


Image

Market Update

4:10 pm : Stocks finished off their best levels as the early morning excitment following the Spanish auctions and better than expected earnings from Alcoa faded over the course of the session. The Fed's latest Beige Book was released this afternoon, and suggested that overall economic activity in the dozen Fed districts continued to increase at a modest to moderate pace in February and early March. Reports of consumer spending were "encouraging." However, stocks saw little response to the Beige Book, and drifted lower over the remainder of the session as some traders worried the good news would prevent the Fed from implementing a third round of quantitative easing later this year.

Shares of Alcoa (AA 9.90, +0.58) jumped 6.2% after the company posted a surprise gain of $0.10 per share for the first quarter when the Capital IQ Consensus Estimate was calling for a loss of $0.03. Revenues climb 0.8% YoY to $6.01 billion, and the company raised its 2012 global growth forecast for the aerospace market three percentage points. The company also expects global aluminum demand to grow 7% in 2012.

Nokia (NOK 4.24, -0.79) plunged 15.7% after the company lowered its first quarter devices and services operating margin guidance to approximately -3%. This compares with the company’s previous forecast which projected a a range of “around breakeven, ranging either above or below by approximately 2%.” Competitive industry dynamics, particularly in India, the Middle East, Africa, and China were stated as reasons for the change in forecast.

JC Penney (JCP 34.43, +1.22) gained 3.7% after announcing the departure of CFO Michael Dastugue. COO Michael Kramer will hold the position as interim CFO until a replacement can be found.

Banco Santander (STD 6.70, +0.19), Barclays (BCS 13.49, +0.48), and Deutsche Bank (DB 45.06, +1.56) finished off their opening highs as traders took profits on the early surge. The strength in European financials came after Italy raised EUR11 bln through the sale of short-term bills. The space will remain in focus tomorrow as Italy readies for 5- and 10-yr note auctions.

Apple (AAPL 626.20, -2.24) lost 0.4% after the Department of Justice filed an antitrust suit against the company and several publishers who they say colluded to fix eBook prices.

Treasuries ended the day off their worst levels, but still saw sizable losses as traders dumped maturities and moved back into riskier assets. The 10-yr fell just less than half a point and saw its yield climb four basis points to 2.028%. Today’s selling swung the yield curve steeper as the 2-10-yr spread widened to 174.5 basis points. DJ30 +89.54 NASDAQ +25.24 SP500 +10.12 NASDAQ Adv/Vol/Dec 1964/1.48 bln/549 NYSE Adv/Vol/Dec 2429/779.4 mln/643

3:30 pm : Crude oil popped higher into positive territory on this morning's weekly petroleum data which showed higher than anticipated draws in both gasoline and distillate inventories. It then trended higher to reach a session high of $103.17 per barrel before slightly pulling back and closing floor trade with a 1.5% gain at $102.66 per barrel. After trending lower throughout the session, natural gas sold off and settled down 2.5% at its 10-year low of $1.98. United States Natural Gas Fund (UNG 14.96, -0.27), the natural gas proxy ETF, is currently down 1.7% after touching a lifetime low of $14.88 in recent trade. Gold had a lackluster session as it traded in a fairly consolidative pattern near the unchanged line. The precious metal moved within a narrow range between $1663.40 and $1656.80 before settling pit trade down just $0.80 at $1660.00 per ounce. Silver also chopped around the unchanged line during early morning trade, but fell into negative territory just before 11:00am ET. The white metal made a brief attempt to recover losses, but ultimately closed down 0.2% at $31.52.DJ30 +93.55 NASDAQ +20.29 SP500 +10.00 NASDAQ Adv/Vol/Dec 1855/1.18 bln/661 NYSE Adv/Vol/Dec 2308/516.1 mln/741

2:55 pm : Treasuries ended the day off their worst levels, but still saw sizable losses as traders dumped maturities and moved back into riskier assets. Today’s $21 billion 10-yr note reopening saw a tepid response, drawing 2.043% and a slightly weaker than average 3.08x bid/cover. The dollar demand of $64.7 billion was the weakest since November. A loss of more than a point saw the long bond slip to 98 25/32 by the cash close as the selling ran the 30-yr yield back up to 3.189%. Elsewhere, the 10-yr fell just less than half a point and saw its yield climb four and a half basis points to 2.033%. Today’s selling swung the yield curve steeper as the 2-10-yr spread widened to 174.5 basis points. DJ30 +108.04 NASDAQ +25.02 SP500 +12.27 NASDAQ Adv/Vol/Dec 1860/1.07 bln/641 NYSE Adv/Vol/Dec 2353/467.1 mln/689

2:30 pm : The major market averages continue to hold solid gains after the release of the Fed’s Beige Book with all three indices seeing advances of close to 0.9%.

Apple (AAPL 627.40, -1.04) saw its best levels of the session on today’s open, but has been under pressure since late this morning after the Department of Justice filed an antitrust suit against the company and several publishers who they say colluded to fix eBook prices. The stock has seen a session low of $624.10, but is currently trading near important support in the $626 vicinity.DJ30 +108.00 NASDAQ +25.19 SP500 +12.31 NASDAQ Adv/Vol/Dec 1933/985.7 mln/560 NYSE Adv/Vol/Dec 2434/427.9 mln/607

2:00 pm : The Fed's latest Beige Book was just released, but stocks haven't had any real reaction to it. In short, it suggested that overall economic activity in the dozen Fed districts continued to increase at a modest to moderate pace in February and early March. Reports of consumer spending were "encouraging."

The Treasury Budget for March was just released. It showed a $198.2 billion deficit, which is slightly more than the $193 billion deficit that had been broadly expected among economists polled by Briefing.com.DJ30 +123.48 NASDAQ +30.69 SP500 +14.07 NASDAQ Adv/Vol/Dec 1960/915.7 mln/528 NYSE Adv/Vol/Dec 2472/394.3 mln/556

1:30 pm : The market continues its intraday drift, currently sitting above mid-day lows. Today's gains recoup about half of yesterday's sharp selloff.

This afternoon we get the Fed's Beige Book at 2:00 ET, which will detail regional economic conditions. The March Treasury Budget will also be released at 2:00 ET.

Although there aren't any influential earnings reports due after today's close, we do get results from Google (GOOG 633.93, +7.07) after tomorrow's close, and earnings from megabanks JPMorgan Chase (JPM 43.97, +1.01) and Wells Fargo (33.86, +0.94) on Friday morning.

Next week, around 65 (13%) S&P 500 components are set to report earnings.DJ30 +102.97 NASDAQ +28.53 SP500 +12.00 NASDAQ Adv/Vol/Dec 1939/836.7 mln/522 NYSE Adv/Vol/Dec 2466/361.5 mln/564

1:00 pm : The major market averages hold strong gains at midday. The Nasdaq's gain of 1.0% leads the way while the S&P 500 and Dow trail with 0.9% advances. Today's upward bias comes after Spain was able to raise EUR11 billion through the sale of short-term bills and after Alcoa kicked off earnings season with better than expected results.

Shares of Alcoa (AA 10.05, +0.73) are up 7.8% after the company posted a surprise gain of $0.10 per share for the first quarter when the Capital IQ Consensus Estimate was calling for a loss of $0.03. Revenues climb 0.8% YoY to $6.01 billion, and the company raised its 2012 global growth forecast for the aerospace market three percentage points. The company also expects global aluminum demand to grow 7% in 2012.

Nokia (NOK 4.36, -0.67) is down 13.1% after the company lowered its first quarter devices and services operating margin guidance to approximately -3%. This compares with the company’s previous forecast which projected a a range of “around breakeven, ranging either above or below by approximately 2%.” Competitive industry dynamics, particularly in India, the Middle East, Africa, and China were stated as reasons for the change in forecast.

JC Penney (JCP 34.60, +1.39) has rallied to its best levels of the session, and now trades up 4.2% after announcing the departure of CFO Michael Dastugue. COO Michael Kramer will hold the position as interim CFO until a replacement can be found.

European financials are seeing strong gains as peripheral yields ease off of yesterday’s levels after Italy was able to raise EUR11 billion through the sale of short-term paper. Banco Santander (STD 6.68, +0.17), Barclays (BCS 13.51, +0.50), and Deutsche Bank (DB 45.10, +1.60) have seen steady selling pressure over the course of the session after opening with strong gains. European financials will remain in focus tomorrow as Italy readies for 5- and 10-yr note auctions.

Treasuries hover just above session lows during what has been a rather quiet session. Today’s selling has caused a mild bump up in yields as the 10-yr holds near 2.03%. Steepening of the yield curve has the 2-10-yr spread wider at 174 bps. Attention now shifts to the $21 billion 10-yr reopening that will take place at the top of the hour. Also expected to have an impact on this afternoon’s trade are the Treasury Budget and the Fed’s Beige Book which will both be released at 2 pm ET.DJ30 +114.74 NASDAQ +28.92 SP500 +12.86 NASDAQ Adv/Vol/Dec 1945/764.8 mln/502 NYSE Adv/Vol/Dec 2480/334.2 mln/532

12:30 pm : Treasuries hover just above session lows during what has been a rather quiet session. The complex has been under modest selling pressure all session long as equity markets hold the majority of their gains. A loss of one point has dropped the long bond to 98 28/32 while a decline of 12/32 has the 10-yr down to 99 23/32. Today’s selling has caused a mild bump up in yields as the 10-yr holds near 2.03%. Steepening of the yield curve has taken hold with the 2-10-yr spread wider at 174 bps. Traders now shift their attention to the $21 billion 10-yr reopening that will take place at the top of the hour. Also expected to have an impact on this afternoon’s trade are the Treasury Budget and the Fed’s Beige Book which are both due out at 2 pm ET. DJ30 +98.66 NASDAQ +28.59 SP500 +11.54 NASDAQ Adv/Vol/Dec 1957/705.5 mln/476 NYSE Adv/Vol/Dec 2446/309.7 mln/551

12:00 pm : The major market averages are hovering near their worst levels of the session, but all three still hold gains in excess of 0.5%. The Nasdaq still leads the way with an advance of 0.9% while the S&P 500 and Dow trail with respective gains of 0.8% and 0.7%.

European financials are seeing strong gains as peripheral yields ease off of yesterday’s levels after Italy was able to raise EUR11 billion through the sale of short-term paper. Banco Santander (STD 6.68, +0.17), Barclays (BCS 13.52, +0.51), and Deutsche Bank (DB 45.00, +1.50) have seen steady selling pressure over the course of the session after opening with strong gains. European financials will remain in focus tomorrow as Italy readies for 5- and 10-yr note auctions. DJ30 +86.51 NASDAQ +28.91 SP500 +10.27 NASDAQ Adv/Vol/Dec 1970/629.2 mln/452 NYSE Adv/Vol/Dec 2437/280.0 mln/537

11:30 am : The major averages have slipped off their best levels of the session, but still hold solid gains as all three are on track to end their five-day losing streaks.

JC Penney (JCP 34.11, +0.90) has rallied to its best levels of the session, and now trades up % after announcing the departure of CFO Michael Dastugue. COO Michael Kramer will hold the position as interim CFO until a replacement can be found. DJ30 +97.83 NASDAQ +33.09 SP500 +12.59 NASDAQ Adv/Vol/Dec 1965/545.5 mln/425 NYSE Adv/Vol/Dec 2502/246.2 mln/460

11:00 am : Equity inidcies hold near session highs after their strong opens. A 1.2% gain has the Nasdaq leading the advance while the S&P 500 and Dow trail with respective gains of 1.0% and 0.8%.

Nokia (NOK 4.31, -0.72) is down 14.2% after the company lowered its first quarter devices and services operating margin guidance to approximately -3%. This compares with the company’s previous forecast which projected a a range of “around breakeven, ranging either above or below by approximately 2%.” Competitive industry dynamics, particularly in India, the Middle East, Africa, and China were stated as reasons for the change in forecast. DJ30 +102.21 NASDAQ +36.91 SP500 +13.59 NASDAQ Adv/Vol/Dec 2012/453.7 mln/348 NYSE Adv/Vol/Dec 2553/208.7 mln/383

10:40 am : In energy, May crude oil has been trading higher this morning and just rallied to a new session high of $102.36 following the weekly inventory data, which showed a build of crude of 2.791 mln vs 2.0 mln build consensus, but a draw of 4.0 mln in distillates vs 0.4 draw consensus. In current trade, crude is +1.2% at $102.19/barrel.

May natural gas has been in positive territory for most of today's session, trading between $2.02 and $2.05. Currently, natural gas is pulling back and is now -0.3% at $2.03/MMBtu.

In metals, Apr gold and May silver were in the red for most of the session so far despite the current weakness in the dollar index. The index hit a session low of 79.51 around 6am ET and is now -0.3% at 79.65. Both gold and silver have been in a rather tight range this morning and currently trading modestly lower with gold -0.1% at $1659.50/oz and silver -0.2% at $31.61/oz.DJ30 +120.42 NASDAQ +37.97 SP500 +15.41 NASDAQ Adv/Vol/Dec 1990/374 mln/352 NYSE Adv/Vol/Dec 2464/181 mln/402

10:00 am : The major averages are off their best levels of the session, but still hold solid gains. Both the Nasdaq and the S&P 500 are seeing gains of 0.8% while the Dow holds a 0.6% advance.

Shares of Alcoa (AA 9.97, +0.65) are up 7.0% after the company posted a surprise gain of $0.10 per share for the first quarter when the Capital IQ Consensus Estimate was calling for a loss of $0.03. Revenues climb 0.8% YoY to $6.01 billion, and the company raised its 2012 global growth forecast for the aerospace market three percentage points. The company also said it expects global aluminum demand to grow 7% in 2012.DJ30 +91.20 NASDAQ +27.01 SP500 +12.21 NASDAQ Adv/Vol/Dec 1857/188.6 mln/380 NYSE Adv/Vol/Dec 2438/110.4 mln/389

09:45 am : Equitieis are holding strong gains in the opening minutes of trade as all three of the major averages are up close to 1.0%. Financials and materials are the best performing sectors, both trading up 1.5%.DJ30 +109.52 NASDAQ +26.64 SP500 +13.90 NASDAQ Vol 113.8 mln NYSE Vol 81.3 mln

09:15 am : [BRIEFING.COM] S&P futures vs fair value: +14.60. Nasdaq futures vs fair value: +25.00. Equity futures are pointing to strong gains at the open as markets look to end their five-day losing streaks. Shares of Alcoa are up 6.3% in pre-market trading following the company's better than expected earnings. Meanwhile, Nokia is down close to 16% ahead of the opening bell after lowering its first quarter devices and services operating margin guidance. The Treasury budget and the Fed's Beige Book will both cross the wires at 2 pm ET. Treasury will hold a 10-yr note reopening.

08:59 am : [BRIEFING.COM] S&P futures vs fair value: +13.70. Nasdaq futures vs fair value: +22.80. Global equity markets are seeing a mixed session as weakness spilled over into Asian trade while European stocks are trending higher. Asian markets closed mostly lower as traders responded to yesterday’s lower close on Wall Street. Meanwhile, European markets gained after Italy was able to successfully auction EUR11 billion in short-term bills. Yields across the periphery are lower despite Italy seeing at auction yields more than double from previous levels and bid/covers fall.

The major Asian indices (Nikkei -0.8%, Hang Seng -1.1%, Shanghai +0.1%) finished mostly lower as European sovereign debt fears weighed. Japan’s Nikkei shed 0.8% as a stronger yen pushed shares of exporters lower. Mazda Motor fell 2.2% and Canon dropped 0.4%. Shares of Sony dropped 4.5% after the company announced a record loss of JPY520 billion for the year ended March 31. Hong Kong’s Hang Seng fell 1.1% as export-related stocks were weak. Port Operator Cosco Pacific tumbled 3.2% and dry bulk shipper China Cosco plunged 5.1%. Elsewhere, China’s Shanghai Composite finished up 0.1% as property developers outperformed. China Vanke added 0.8% and China Merchants Property Development gained 2.4%.

Markets are higher across Europe (FTSE +0.8%, CAC +1.7%, DAX +1.6%) as investors celebrate Italy’s ability to auction EUR11 billion in short-term paper. Britain’s FTSE is up 0.8% as financials and miners led the way. Barclays is seeing a gain of 4.2% and Fresnillo is up 3.0% as the two stocks are among the best performers in their respective sectors. France’s CAC is higher by 1.7% as financials pace the advance. BNP Paribas, Credit Agricole, and Societe Generale are all up between 3.2% and 4.1%. Meanwhile, Germany’s DAX is trading up 1.6% as automakers are seeing strong gains. Volkswagen leads the group with a 4.0% gain, but BMW and Daimler are also seeing solid advances of 2.8% and 2.5% respectively.

08:33 am : [BRIEFING.COM] S&P futures vs fair value: +14.00. Nasdaq futures vs fair value: +24.50. Stock futures have made no real reaction to the latest monthly dose of import and export price data. As such, they point to a stronger start for trade today. During March import prices increased by 1.3%. Excluding oil, import prices rose by 0.5% after a 0.1% decrease had been experienced in the prior month. Export prices increased by 0.8% in March. Excluding agricultural items, export prices increased by 0.5% after they were up 0.5% in the prior month.

08:00 am : S&P futures vs fair value: +14.80. Nasdaq futures vs fair value: +25.80. Equity futures are sharply higher this morning after an easing of peripheral yields following two Italian bill auctions, and the better than expected Alcoa earnings. Italy raised EUR11 billion through the sale of short-term bills, and markets viewed this as a positive despite yields surging from previous levels and bid/covers falling. Alcoa released its first quarter earnings following yesterday's closing bell, and posted a surprised profit of $0.10 per share which topped the Capital IQ Consensus Estimate of a $0.03 per share loss. Revenues also topped estimates, rising 0.8% YoY to $6.01 bln. The stock is trading up 6.3% in pre-market trading. Today's data slate includes import/export prices which are due out at 8:30 am ET, as well as the Treasury budget, and the Fed's Beige Book which will both cross the wires at 2 pm ET. Treasury will hold a 10-yr note reopening.

06:20 am : [BRIEFING.COM] S&P futures vs fair value: +14.20. Nasdaq futures vs fair value: +23.00.

06:20 am : Nikkei...9458.74...-79.30...-0.80%. Hang Seng...20140.67...-215.60...-1.10%.

06:20 am : FTSE...5627.13...+31.60...+0.60%. DAX...6692.08...+85.70...+1.30%.

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

http://www.thestrategylab.com
Phone: +1 708 572-4885
Business Hours: 8am - 5pm est (Mon - Fri)
Skype Messenger: kebec2002
questions@thestrategylab.com
Go Back To TheStrategyLab.com Homepage


Top
 Profile  
 
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 1 post ] 

All times are UTC - 5 hours [ DST ]


Who is online

Users browsing this forum: No registered users and 2 guests


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to:  
cron
Powered by phpBB © 2000, 2002, 2005, 2007 phpBB Group
Translated by Xaphos © 2007, 2008, 2009 phpBB.fr