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 9:43 am

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: April 12th Thursday 2012 Emini TF ($TF_F) points +7.30
PostPosted: Thu Apr 12, 2012 7:49 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:
041212-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit-730.png
041212-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit-730.png [ 76.02 KiB | Viewed 247 times ]

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

Price Action Trade Performance for Today: +7.30 points or $730 dollars in the Russell 2000 Emini TF ($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=1192.

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:
041212-Key-Price-Action-Markets.png
041212-Key-Price-Action-Markets.png [ 531.38 KiB | Viewed 260 times ]


Image

Market Update

4:10 pm : The major averages finished at session highs as investors gobbled up shares on the prospects of more quantitative easing by the Fed after this morning’s initial claims and PPI data fell short of estimates. The data, coupled with last night’s speech by Fed Vice Chair Janet Yellen, in which she suggested keeping the Fed Funds Rate close to zero through late 2015 would cause unemployment to decline at a quicker rate, provided a bullish tone for today’s session.

Gold miners saw strong gains as the precious metal jumped 1.0% to $1677 per ounce on the renewed prospects of more quantitative easing. Barrick Gold (ABX 42.20, +1.16) and Newmont Mining (NEM 49.54, +1.54) were among the top performers in the space.

Shares of Google (GOOG 651.01, +15.05) rallied +2.4% as traders bid the stock up ahead of its earnings.

JP Morgan Chase (JPM 44.84, +0.83) and Wells Fargo (WFC 34.02, +0.40) will give investors a glimpse at financial earnings for the quarter as both companies are scheduled to release their first quarter results ahead of tomorrow’s opening bell. The Capital IQ Consensus Estimates are expecting earnings per share of $1.17 at JP Morgan Chase and $0.73 at Wells Fargo.

Tractor Supply (TSCO 97.95, +5.65) gained 6.1% after issuing upside guidance for the first quarter. The company projects earnings per share of $0.53-$0.55 which is well above the Capital IQ Consensus Estimate of $0.31 per share. Strong same store sales figures are credited for the boost in guidance as the early start to spring pulled sales forward and will provide an estimated benefit of $0.09 to $0.11 per share.

Wabtec (WAB 76.36, +5.06) rose 7.1% after issuing upside guidance for the first quarter. The company projects earnings per share of $1.20 which is well above the Capital IQ Consensus Estimate of $1.03. Wabtec also boosted its guidance for fiscal year 2012, saying it now expects to earn $4.80 per share versus its previous estimate of $4.30. Strength in the global freight rail market, including demand for new freight cars and locomotives, was cited for the positive guidance.

Avid Technology (AVID 8.50, -1.78) lost -17.3% after issuing downside guidance for first quarter revenues. The company is now calling for revenues of $152 million ($161.1 million Capital IQ Consensus Estimate), saying the shortfall is due to weaker demand in the creative enthusiast portion of its business. That number would represent a 30% decline in revenues on a year over year basis.

The Treasury complex closed lower, but off its worst levels after seeing midday gains following this afternoon's $13 billion 30-yr bond reopening. The auction drew 3.230% and saw a better than average 2.76x bid/cover. The 10-yr finished with a loss of 4/32 which made for a rise of almost three basis points in yield to 2.049%. Today's selling swung the yield curve steeper as the 2-10-yr spread widened to 178 basis points.

Friday's data is the most anticipated of the week as CPI and core CPI will cross the wires at 8:30 am ET, and will be followed by Michigan Sentiment at 9:55 am ET.DJ30 +181.04 NASDAQ +39.09 SP500 +18.86 NASDAQ Adv/Vol/Dec 1860/1.42 bln/640 NYSE Adv/Vol/Dec 2494/754.8 mln/555

3:30 pm : Crude oil climbed to a session high of $104.24 per barrel in morning trade before pulling back and spending the remainder of the session chopping around between $103.00 and $104.00 per barrel. The energy component managed to book a gain of 1.0% for the session as it closed at $103.69 per barrel. Natural gas started morning pit trade near the unchanged line, but popped to a session high of $2.06 per MMBtu in response to inventory data that showed a build of 8 bcf when a build of 20 bcf was anticipated. However, the move was short-lived as natural gas quickly gave up all of its gains. The energy component closed flat at $1.98 per MMBtu. Precious metals trended higher on continued weakness in the dollar with the biggest gains coming early in the session. Both gold and silver closed just below their respective session highs of $1680.30 per ounce and $32.58 per ounce. Gold settled with a 1.3% gain at $1681.00 per ounce and silver closed 3.2% higher at $32.53 per ounce.DJ30 +164.76 NASDAQ +38.38 SP500 +17.27 NASDAQ Adv/Vol/Dec 1880/1.11 bln/606 NYSE Adv/Vol/Dec 2476/494.5 mln/571

3:00 pm : The Treasury complex closed lower, but off its worst levels after seeing midday gains following this afternoon's $13 billion 30-yr bond reopening. Early selling saw money move into riskier assets on the possibility of more quantitative easing by the Fed after today's claims and PPI data fell short of estimates. Treasuries were heavy throughout the morning as equities pushed higher, but were able to climb off their lows following this afternoon's $13 billion 30-yr bond reopening. The auction drew 3.230% and saw a better than average 2.76x bid/cover. The 10-yr finished with a loss of 4/32 which made for a rise of almost three basis points in yield to 2.049%. Today's selling swung the yield curve steeper as the 2-10-yr spread widened to 178 basis points. Friday's data is the most anticipated of the week as CPI and core CPI will cross the wires at 8:30 am ET, and will be followed by Michigan Sentiment at 9:55 am ET.DJ30 +174.94 NASDAQ +40.30 SP500 +18.43 NASDAQ Adv/Vol/Dec 1869/1.02 bln/618 NYSE Adv/Vol/Dec 2498/455.1 mln/546

2:30 pm : The major market averages remain near session highs as all three hold gains in excess of 1.0%. The Dow leads the advance with a 1.3% while the Nasdaq and S&P trail with 1.2% gains.

JP Morgan Chase (JPM 44.79, +0.78) and Wells Fargo (WFC 33.68, +0.06) will give investors a glimpse at financial earnings for the quarter as both companies are scheduled to release their first quarter earnings ahead of tomorrow’s opening bell. The Capital IQ Consensus Estimates for the two companies are expecting earnings of $1.17 per share at JP Morgan Chase and $0.73 per share at Wells Fargo.DJ30 +169.91 NASDAQ +36.18 SP500 +17.11 NASDAQ Adv/Vol/Dec 1857/927.2 mln/617 NYSE Adv/Vol/Dec 2460/417.0 mln/580

2:00 pm : Stocks continue to drift near their best levels of the session with the Dow now holding a gain of 1.4% and taking over as the leader. Materials (+2.8%), Energy (+2.0%), and Industrials (+2.0%) are the best performing sectors as all the major components of the S&P 500 trade in positive territory. DJ30 +160.83 NASDAQ +30.43 SP500 +15.40 NASDAQ Adv/Vol/Dec 1858/851.4 mln/626 NYSE Adv/Vol/Dec 2467/387.6 mln/572

1:30 pm : Treasuries have climbed off their worst levels of the session following this afternoon’s $13 billion 30-yr bond reopening. The auction drew 3.230% and saw a better than average 2.76x bid/cover. The long bond has more than halved its losses following the auction, and trades down 7/32 at 98 12/32. Elsewhere, a loss of just 3/32 has the 10-yr yield up close to one basis point near 2.05%. A slightly steeper yield curve is holding as the 2-10-yr spread trades 176.5 basis points.DJ30 +168.47 NASDAQ +34.68 SP500 +16.72 NASDAQ Adv/Vol/Dec 1862/779.1 mln/601 NYSE Adv/Vol/Dec 2469/360.9 mln/560

1:00 pm : The major market averages hold strong gains at midday after this morning’s weaker than expected initial claims and PPI data renewed prospects of further quantitative easing by the Federal Reserve. The data, coupled with last night’s speech by Fed Vice Chair Janet Yellen, in which she suggested keeping the Fed Funds Rate close to zero through late 2015 would cause unemployment to decline at a quicker rate, has provided a bullish setup for today’s session.

Gold miners are seeing strong gains as the precious metal trades up 1.0% at $1677 as traders bid the yellow metal up on the renewed prospects of more quantitative easing. Barrick Gold (ABX 42.37, +1.33) and Newmont Mining (NEM 49.53, +1.53) are among the top performers in the space.

Shares of Google (GOOG 644.00, +8.04) trade up 1.3% as traders bid the stock up ahead of the company’s earnings which are due out after the close. The Capital IQ Consensus Estimate is calling for earnings of $9.64 per share and revenues of $10.58 bln.

Tractor Supply (TSCO 97.77, +5.47) is higher by 5.9% after issuing upside guidance for the first quarter. The company projects earnings per share of $0.53-$0.55 which is well above the Capital IQ Consensus Estimate of $0.31 per share. Strong same store sales figures are credited for the boost in guidance as the early start to spring pulled sales forward and will provide an estimated benefit of $0.09 to $0.11 per share.

Wabtec (WAB 75.95, +4.65) is up 6.5% after issuing upside guidance for the first quarter. The company projects earnings per share of $1.20 which is well above the Capital IQ Consensus Estimate of $1.03. Wabtec also boosted its guidance for fiscal year 2012, saying it now expected to earn $4.80 per share versus its previous estimate of $4.30. Strength in the global freight rail market, including demand for new freight cars and locomotives, was cited for the positive guidance.

Avid Technology (AVID 8.75, -1.53) is down 14.9% after issuing downside guidance for first quarter revenues. The company is now calling for revenues of $152 million ($161.1 million Capital IQ Consensus Estimate), saying the shortfall is due to weaker demand in the creative enthusiast portion of its business. That number would represent a 30% decline in revenues on a year over year basis. DJ30 +165.48 NASDAQ +39.62 SP500 +17.62 NASDAQ Adv/Vol/Dec 1872/719.0 mln/577 NYSE Adv/Vol/Dec 2460/333.8 mln/554

12:30 pm : Stocks continue to drift near session highs with all three of the major averages holding gains of 1.1%.

Wabtec (WAB 76.00, +4.70) is trading up 6.6% after issuing upside guidance for the first quarter. The company projects earnings per share of $1.20 which is well above the Capital IQ Consensus Estimate of $1.03. Wabtec also boosted its guidance for fiscal year 2012, saying it now expected to earn $4.80 per share versus its previous estimate of $4.30. Strength in the global freight rail market, including demand for new freight cars and locomotives, was cited for the positive guidance.DJ30 147.09 NASDAQ +34.89 SP500 +15.23 NASDAQ Adv/Vol/Dec 1818/650.3 mln/604 NYSE Adv/Vol/Dec 2405/301.9 mln/589

12:00 pm : Stocks have slipped off their best levels, but all three of the major averages still hold gains of 1.0% or more. The Nasdaq continues to lead the advance, trading up 1.2%.

Tractor Supply (TSCO 98.00, +5.70) is trading up 6.2% after issuing upside guidance for the first quarter. The company projects earnings per share of $0.53-$0.55 which is well above the Capital IQ Consensus Estimate of $0.31 per share. The company also sees revenues of $1.02 billion which is better than the consensus of $937.0 million. Strong same store sales figures are credited for the boost in guidance as the early start to spring pulled sales forward and will provide an estimated benefit of $0.09 to $0.11 per share. DJ30 +138.09 NASDAQ +36.10 SP500 +14.19 NASDAQ Adv/Vol/Dec 1796/575.7 mln/600 NYSE Adv/Vol/Dec 2377/271.1 mln/595

11:30 am : The major indices are trading at their best levels of the session with all three seeing gains in excess of 1.0%. The Nasdaq leads the advance with a gain of 1.3%, but the Dow and S&P lag just behind with 1.1% gains.

Gold miners are seeing a strong bid this morning as the precious metal trades up 0.8% at $1674.50 per ounce. Today's buying comes on renewed prospects of more quantitative easing following this morning’s weaker than expected claims data. Barrick Gold (ABX 42.13, +1.09) and Newmont Mining (NEM 49.14, +1.14) are among the top performers in the space. DJ30 +144.18 NASDAQ +37.81 SP500 +14.58 NASDAQ Adv/Vol/Dec 1811/503.6 mln/564 NYSE Adv/Vol/Dec 2393/239.1 mln/567

11:00 am : All three of the major market averages hold gains in excess of 1.0% despite today’s disappointing initial claims data.

Avid Technology (AVID 8.79, -1.49) is down 14.5% after issuing downside guidance for first quarter revenues. The company is now calling for revenues of $152 million ($161.1 million Capital IQ Consensus Estimate), saying the shortfall is due to weaker demand in the creative enthusiast portion of its business. That number would represent a 30% decline in revenues on a year over year basis. DJ30 +120.41 NASDAQ +33.31 SP500 +13.05 NASDAQ Adv/Vol/Dec 1726/401.0 mln/606 NYSE Adv/Vol/Dec 2303/200.0 mln/617

10:35 am : Crude oil and precious metals surged in recent trade as the dollar index extends losses to a new session low. However, the dollar index was declining at just a modest rate.

In the energy space, ahead of the sharp rally a short while ago, May crude oil was barely in the red before surging into positive territory. Since surging earlier, crude continues to hit new session highs. Most recently, crude ran as high as $103.88/barrel and is now +1.1% at $103.83.

May natural gas has been in positive territory all session, excluding a couple of brief moments where the energy component dipped into the red. Following inventory data, which showed a build of 8 bcf vs consensus of a build of 20 bcf, nat gas spiked to a new session high of $2.07 and is now +2.9% at $2.04/MMbtu.

In metals, Apr gold and May silver surged sharply along with crude and are both just extended gains to new session highs again a few minutes ago. Gold ran as high as $1674.90/oz, while silver hit a new session high of $32.26. Currently, gold is +0.8% at $1673.90 and silver is +2.4% at $32.27/oz.DJ30 75.23 NASDAQ 20.69 SP500 8.08 NASDAQ Adv/Vol/Dec 1462/286 mln/811 NYSE Adv/Vol/Dec 1967/154 mln/858

10:00 am : The major averages hold near session highs with all three trading up 0.7%.

Shares of Google (GOOG 642.38, +6.42) trade up 1.0% as traders bid the stock up ahead of the company’s earnings which are due out after the close. The Capital IQ Consensus Estimate is calling for earnings of $9.64 per share and revenues of $10.58 bln.DJ30 +78.37 NASDAQ +19.78 SP500 +8.55 NASDAQ Adv/Vol/Dec 1487/162.7 mln/688 NYSE Adv/Vol/Dec 2062/103.0 mln/698

09:45 am : The major market averages all hold gains of close to 0.4% in the opening minutes of trade. The stronger bias comes despite this morning’s disappointing initial claims data. Materials (+1.0%), industrials (+0.8%), and telecom (+0.6%) are the top performers while consumer staples (-0.3%) and utilities (-0.3%) lag. DJ30 +44.43 NASDAQ +14.94 SP500 +5.05 NASDAQ Vol 93.1 mln NYSE Vol 70.2 mln

09:15 am : [BRIEFING.COM] S&P futures vs fair value: +1.90. Nasdaq futures vs fair value: +6.00. Equity futures have pared their gains following this morning’s data dump. Futures were holding modest gains ahead of the data, but are now pointing to a flat open after initial jobless claims totaled 380,000, which is more than the 355,000 claims that had been expected, on average, among economists polled by Briefing.com. Shares of Google will be in focus today as the technology giant is scheduled to release its first quarter earnings after the closing bell.

09:00 am : [BRIEFING.COM] S&P futures vs fair value: +2.00. Nasdaq futures vs fair value: +6.30. Overseas markets are mixed following yesterday’s strong gains on Wall Street. Asian markets saw strong gains in overnight trade while European bourses trade mostly lower. Data around the globe has been generally better than expected, and that, coupled with the mixed Italian auctions, has aided global equity markets.

The major Asian indices (Nikkei +0.7%, Hang Seng +0.9%, Shanghai +1.8%) saw strong gains as Chinese new loan data and Australian employment figures both topped forecasts. The Nikkei ended a seven-day losing streak with today’s 0.7%. Robotics maker Fanuc and aluminum maker Furukawa Electric added 2.7% and 3.9% respectively as stocks tied to the global growth story gained. Hong Kong’s Hang Seng added 0.9% as financials finished with sizable gains. China Construction Bank climbed 2.2% and ICBC tacked on 1.8%. China’s Shanghai Composite surged 1.8% to lead regional indices higher. Property developers paced the advance with Shenzhen Properties & Resources advancing the 10% limit and Shanghai Xinmei rising 6.1%.

Meanwhile, European bourses are mixed (FTSE -0.3%, CAC -0.4%, DAX +0.1%) as sellers have stepped back in following the U.S. data dump. Britain’s FTSE is -0.3% as energy shares pace the decline. Royal Dutch Shell is the worst performer, trading down 4.7%. France’s CAC is lower by 0.4% as financials weigh. Credit Agricole and Societe Generale are both down 2.3% to lead the sector lower. Germany’s DAX is +0.1% as strength in automakers is offsetting weakness in financials. BMW is the top performer with a gain of 1.9% while Commerzbank leads financials lower with a loss of 2.2%.

08:35 am : S&P futures vs fair value: +3.60. Nasdaq futures vs fair value: +10.00. Initial jobless claims for the week ended April 7 totaled 380,000, which is more than the 355,000 claims that had been expected, on average, among economists polled by Briefing.com. Also, it's higher than the prior week's upwardly revised tally of 367,000. As an aside, continuing claims declined to about 3.25 million from roughly 3.35 million.

Producer price data for March was also recently released. Overall producer held steady month over month, but a 0.3% increase had been broadly anticipated. Core producer prices increased by 0.3% month over month, slightly above the 0.2% that had been generally expected.

Separately, domestic trade data was just released. It showed a deficit of $46 billion for February. That's lighter than the $53.0 billion deficit that economists surveyed by Briefing.com had generally expected.

07:58 am : [BRIEFING.COM] S&P futures vs fair value: +6.70. Nasdaq futures vs fair value: +14.80. Equity futures point to modest gains at the open as traders move into riskier assets following generally better than expected data around the globe and the mixed Italian auctions. Earnings results this morning have been mixed, but today’s big number comes from Google which releases its first quarter results after the closing bell. Today’s data is heavy as initial and continuing claims, PPI, core PPI, and the trade balance are all scheduled for release at 8:30 am ET. Treasury will hold a 30-yr bond reopening.

06:20 am : [BRIEFING.COM] S&P futures vs fair value: +4.30. Nasdaq futures vs fair value: +9.30.

06:20 am : Nikkei...9524.79...+66.10...+0.70%. Hang Seng...20327.32...+186.70...+0.90%.

06:20 am : FTSE...5617.66...-17.10...-0.30%. DAX...6681.91...+7.20...+0.10%.

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 3 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