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 Post subject: April 13th Friday 2012 Emini TF ($TF_F) points +13.30
PostPosted: Fri Apr 13, 2012 10:56 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:
041312-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit-1330.png
041312-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit-1330.png [ 76.11 KiB | Viewed 313 times ]

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

Price Action Trade Performance for Today: +13.30 points or $1330 dollars in the Russell 2000 Emini TF ($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=1193.

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

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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

4:05 pm : The S&P 500 closed down 2.0% for the week and saw its biggest weekly decline in 2012 as European sovereign debt fears and disappointing U.S. data weighed. Worries over the health of Spain came to a head on Friday after it was reported net borrowing by Spanish banks from the European Central Bank surged to EUR228 billion in March from EUR152 billion in February. That news sent Spanish CDS up to a record high near 500 basis points, and caused its 10-yr yield to climb back above 6.00%. Economic data here in the U.S. also disappointed as claims data and Michigan Sentiment fell short of estimates. This week’s losses came despite a two-day rally in the middle of the week that saw equities climb more than 2.0% on the possibility of more quantitative easing following a speech from Fed Vice Chairman Janet Yellen who suggested the Fed could hold rates low through 2015 if necessary. Earnings season got started on the right foot as Alcoa, Google, JP Morgan Chase, and Wells Fargo all reported better than expected results. DJ30 -136.99 NASDAQ -44.22 SP500 -17.30 NASDAQ Adv/Vol/Dec 550/1.41 bln/1930 NYSE Adv/Vol/Dec 720/755.4 mln/2316

3:30 pm : Crude oil fell further into negative territory in response to data showing China's economy growing at a weaker than anticipated 8.1% year over year. Apprehensions about slowing demand for oil, lowered U.S. consumer confidence in April, and a stronger dollar put pressure on crude, enough that it settled its session at $102.84 per barrel, or 0.4% lower than last week's closing price. Natural gas remained at its 10-year lows as it closed the last three days' pit trade at $1.98 per MMBtu. Yesterday's stronger-than-expected inventory data that showed a build of 8 bcf when a build of 20 bcf was anticipated was not enough to boost the energy component above that level. Nat gas finished the week 5.3% lower. Precious metals were under pressure in as they traded further into negative territory in response to a stronger dollar. Gold took a large loss as it sold-off to a session low of $1655.10 per ounce just minutes before floor trade closed. Despite today's losses, the yellow metal settled at $1660.00 per ounce, 1.8% higher over last week. Silver saw some volatility as it also trended downwards in pit trade. It closed the week 0.9% lower at $31.42 per ounce. Copper saw the biggest weekly losses after trading at three month lows of $3.61 per pound. The metal lost over 4.7% since last Thursday's close, settling pit trade at $3.62 per pound.DJ30 -77.65 NASDAQ -33.33 SP500 -11.12 NASDAQ Adv/Vol/Dec 590/1.10 bln/1886 NYSE Adv/Vol/Dec 819/472.7 mln/2226

3:00 pm : Treasuries saw solid gains for the week as renewed concern over the problems in Europe took center stage. The trouble in Europe more than made up for the average auctions and better than expected corporate earnings that under normal circumstances would likely have caused money to move out of Treasuries and into equities. Worries over the health of Spain provoked heavy buying in the Treasury complex as yields across the curve fell by as much as eight basis points over the course of the week. The long bond was the top performer, adding more than one point to finish at 99 17/32. Meanwhile, a solid gain of 16/32 for the 10-yr note dropped its yield more than five basis points as it saw its first weekly close below the 2.00% threshold since March 2. Slight flattening of the yield curve caused the 2-10-yr spread to narrow to 173 basis points. DJ30 -72.09 NASDAQ -36.15 SP500 -11.19 NASDAQ Adv/Vol/Dec 545/1.03 bln/1916 NYSE Adv/Vol/Dec 802/437.3 mln/2223

2:30 pm : Stocks remain off their worst levels, but have had trouble pushing too much higher as they hover near their afternoon highs. The Nasdaq continues to hold a loss of 1.1% while the S&P and Dow trade down 0.8% and 0.6% respectively.

Dow Chemical (DOW 33.39, +0.72) is outperforming today after the company announced a 28% increase to its second quarter dividend following yesterday’s close. The dividend was raised to $0.32 per share from its previous $0.25 per share. DJ30 -74.85 NASDAQ -35.44 SP500 -11.36 NASDAQ Adv/Vol/Dec 550/952.6 mln/1906 NYSE Adv/Vol/Dec 794/403.5 mln/2212

2:00 pm : Stocks continue to climb off their worst levels, but still hold sizable losses. The Nasdaq continues to pace the decline, trading down 1.0%

Shares of Citigroup (C 33.44, -1.19) may seem some increased volatility ahead of the closing bell as the company is set to release its first quarter earnings before Monday’s open. The Capital IQ Consensus is calling for earnings of $1.01 and revenues of $19.95 billion. DJ30 -67.40 NASDAQ -32.09 SP500 -10.70 NASDAQ Adv/Vol/Dec 593/871.6 mln/1850 NYSE Adv/Vol/Dec 866/369.3 mln/2130

1:30 pm : Stocks attempt to work their way off session lows as markets ready for the final hours of trading on the week. The Nasdaq is down 1.1% while the S&P 500 and Dow hold respective losses of 0.8% and 0.6%.

Spanish banks are seeing heavy selling pressure as worries over the health of Spain mount. Spanish CDS rose to almost 500 bps this morning, touching its highest levels ever after net borrowing by Spanish banks from the European Central Bank surged to EUR228 billion in March from EUR 152 billion in February. Banco Santander (STD 6.44, -0.26) and Banco Bilbao (BBVA 6.86, -0.28) are both trading 3.9% with today’s weakness dropping the two stocks to levels not seen since early 2009. DJ30 -67.47 NASDAQ -33.16 SP500 -10.45 NASDAQ Adv/Vol/Dec 565/806.8 mln/1867 NYSE Adv/Vol/Dec 834/340.6 mln/2161

1:00 pm : Equities have been under pressure since the open as a disappointing Michigan Sentiment reading, and continued worries regarding the health of Spain have weighed. Earnings reports following yesterday's close and prior to today's open have been generally better than expected as Google, JP Morgan Chase, and Wells Fargo have all topped estimates.

Investment banking giant JP Morgan Chase (JPM 43.61, -1.23) is trading down 2.7% despite posted better than expected first quarter results. The company topped analyst expectations by $0.16 after announcing earnings per share of $1.31. Revenues were also better than expected, rising 5.9% year over year to $24.60 bln. Net income was $5.4 billion, down by $172 million, or 3%, from the prior year. The decrease in earnings was driven by higher noninterest expense, largely offset by higher net revenue. Noninterest revenue was $15.6 bln, up by $1.8 bln, or 13%, from the prior year.

Wells Fargo (WFC 33.30, -0.72) is down 2.1% after posting better than expected first quarter earnings. The company announced earnings per share of 0.75 which topped the Capital IQ Consensus Estimate of $0.72. Revenues rose 5.0% year over year to $21.64 billion and beat the $20.5 billion consensus estimate. Total revenue increased due to growth in noninterest income, including strong mortgage banking and market sensitive revenues, while net interest income remained stable.

Shares of Google (GOOG 626.71, -24.30) are down 3.7% even after the company announced better than expected first quarter results. The company saw earnings per share of $10.08 for the first quarter which was better than the Capital IQ Consensus Estimate of $9.64. Revenues surged 24.5% to $8.14 billion as click related to company sites and the sites of its network members rose 39% year over year. Average cost per click disappointed as the number fell 12% from the first quarter of 2011. The company’s Board of Directors announced a 2-for-1 stock split.

Treasuries trade near session highs as the long bond holds an advance of 1 16/32 at 99 27/32. A gain of 19/32 has dropped the 10-yr yield more than 7 basis points and back below the 2.00% threshold. A flatter yield curve has held throughout the session with the 2-10-yr spread tighter at 172 basis points. DJ30 -71.14 NASDAQ -33.69 SP500 -10.60 NASDAQ Adv/Vol/Dec 553/748.1 mln/1865 NYSE Adv/Vol/Dec 788/315.8/2200

12:30 pm : Equities continue to try and climb off session lows, but still hold sizable losses in early afternoon trade. A loss of 1.1% has the Nasdaq leading the decline while the S&P and Dow trade down 0.9% and 0.7% respectively.

Shares of Google (GOOG 628.94, -22.07) are down 3.4% even after the company announced better than expected first quarter results. The company saw earnings per share of $10.08 for the first quarter which was better than the Capital IQ Consensus Estimate of $9.64. Revenues surged 24.5% to $8.14 billion as click related to company sites and the sites of its network members rose 39% year over year. Average cost per click disappointed as the number fell 12% from the first quarter of 2011. The company’s Board of Directors announced a 2-for-1 stock split. DJ30 -85.98 NASDAQ -35.34 SP500 -11.95 NASDAQ Adv/Vol/Dec 520/689.9 mln/1897 NYSE Adv/Vol/Dec 742/292.9 mln/2240

12:00 pm : Treasuries are trading just off their best levels of the session as the disappointing data and continued Spanish worries have sparked safe-haven buying. The long bond trades up 1 11/32 at 99 22/32 after slipping off its session high of 99 30/32. Elsewhere, a 17/32 advance has the 10-yr back up to 100 00/32, and has dropped its yield another 6.2 basis points to 1.993%. A flatter yield curve has been persistent throughout the session with the 2-10-yr spread tighter at 173 basis points. DJ30 -74.70 NASDAQ -31.80 SP500 -10.69 NASDAQ Adv/Vol/Dec 527/626.3 mln/1853 NYSE Adv/Vol/Dec 745/266.7 mln/2220

11:30 am : Stocks hold on session lows, unable to rally off their worst levels. A loss of 1.2% has the Nasadq pacing the decline while the S&P 500 and Dow trade down 0.9% and 0.8% respectively.

Shares of Wells Fargo (WFC 33.32, -0.70) are down 2.1% after posting better than expected first quarter earnings. The company announced earnings per share of 0.75 which topped the Capital IQ Consensus Estimate of $0.72. Revenues rose 5.0% year over year to $21.64 billion and beat the $20.5 billion consensus estimate. Total revenue increased due to growth in noninterest income, including strong mortgage banking and market sensitive revenues, while net interest income remained stable.DJ30 -96.65 NASDAQ -36.29 SP500 -12.50 NASDAQ Adv/Vol/Dec 459/543.1 mln/1879 NYSE Adv/Vol/Dec 666/233.4 mln/2278

11:00 am : The major market averages trade on session lows as the Nasdaq paces the decline with a loss of 1.2%. The S&P 500 and Dow are seeing relative outperformance, but trade down 0.9% and 0.7% respectively.

Investment banking giant JP Morgan Chase (JPM 44.00, -0.84) is trading down 1.9% despite posted better than expected first quarter results. The company topped analyst expectations by $0.16 after announcing earnings per share of $1.31. Revenues were also better than expected, rising 5.9% year over year to $24.60 bln. Net income was $5.4 billion, down by $172 million, or 3%, from the prior year. The decrease in earnings was driven by higher noninterest expense, largely offset by higher net revenue. Noninterest revenue was $15.6 bln, up by $1.8 bln, or 13%, from the prior year. DJ30 -98.47 NASDAQ -36.62 SP500 -12.57 NASDAQ Adv/Vol/Dec 451/446.2 mln/1876 NYSE Adv/Vol/Dec 568/194.2 mln/2346

10:30 am : Dollar index has been trending higher since around 7:30am ET, which has created some selling pressure on the commodity space this morning.

In the energy space, May crude oil has been in the red all session and fell as low as $102.86 overnight. Minutes ago, crude sold off and hit a new session low of $102.54 and is currently trading -0.9% at $102.76/barrel.

May natural gas extended losses from yesterday and fell as low as $1.96, keeping it at 10-year lows. Following this low, natural gas rallied back to $2.00 and is now at the unchanged line at $1.99/MMBtu.

In metals, Apr gold and May silver are in negative territory this morning on the dollar's strength and just recently hit a new session low (Gold $1665.10, Silver $31.89). In current trade, both precious metals are still near those lows. Gold is currently -0.7% at $1668.10/oz, while silver is -1.6% at $31.99/oz.DJ30 -102.10 NASDAQ -30.18 SP500 -11.77 NASDAQ Adv/Vol/Dec 451/322 mln/1802 NYSE Adv/Vol/Dec 549/148 mln/22544

10:00 am : Stocks slipped in response to the latest Consumer Sentiment Survey from the University of Michigan. The preliminary reading for April came in at 75.7, which is not only down from the 76.2 posted in the prior month but is also less than the 76.1 that had been generally expected among economists polled by Briefing.com. The number represents the first decline in the survey since August 2011.

Stocks are seeing slipping to new lows following the miss with all three of the major averages down 0.6%. DJ30 -61.15 NASDAQ -16.27 SP500 -6.56 NASDAQ Adv/Vol/Dec 537/186.6 mln/1622 NYSE Adv/Vol/Dec 792/93.1 mln/2000

09:45 am : Equity markets have opened lower despite the better than expected earnings from Google (GOOG 631.69, -19.32), JP Morgan Chase (JPM 44.16, -0.70), and Wells Fargo (WFC 33.15, -0.87). All three of the major averages are trading down close to 0.4% in the opening minutes as traders ready for the latest Consumer Sentiment Survey from the University of Michigan which is set to cross the wires at 9:55 am ET.DJ30 -51.32 NASDAQ -16.08 SP500 -5.58 NASDAQ Vol 112.5 mln NYSE Vol 65.7 mln

09:15 am : [BRIEFING.COM] S&P futures vs fair value: -3.30. Nasdaq futures vs fair value: -7.00. Equity futures are pointing to a modestly lower open, unable to push into positive territory despite better than expected earnings from Google, JP Morgan Chase, and Wells Fargo. The weaker than expected Chinese GDP set the lower tone in overnight action which has persisted throughout the morning. Traders are now looking ahead to the preliminary reading on consumer sentiment for March from the University of Michigan which will be released at 9:55 AM ET.

09:00 am : [BRIEFING.COM] S&P futures vs fair value: -2.50. Nasdaq futures vs fair value: -6.50. Overseas markets are seeing a mixed session as Asian markets closed mostly higher and European markets trend lower. The major Asian indices were able to shrug off the weaker than expected Chinese GDP number (8.1% year over year actual versus 8.4% year over year expected) as all but India’s Sensex (-1.4%) finished with gains. European markets are under pressure as worries mount in Spain as net borrowing by Spanish banks from the European Central Bank surged to EUR228 billion in March from EUR152 billion in February.

Markets closed generally higher across Asia (Nikkei +1.2%, Hang Seng +1.8%, Shanghai +0.4%) as traders shrugged off the Chinese GDP miss. Japan’s Nikkei rallied 1.2% as heavyweight Fast Retailing surged 8.6% after posting strong second quarter results and forecasting record profit for the year ending in August. Hong Kong’s Hang Seng jumped 1.8% as financials posted strong gains. Industrial & Commercial Bank of China rallied 3.2%, and finished as one of the top performers in the space. China’s Shanghai Composite added 0.4% to finish at its best level in three weeks. Property developers continued to see gains as Tianjin Songjiang climbed 5.0%.

European markets (FTSE -0.6%, CAC -1.6%, DAX -1.1%) are under pressure, and have recently slipped back onto session lows. Britain’s FTSE is down 0.6% as financials lead to the downside. Royal Bank of Scotland is the worst performer in the space, trading down 2.5%. France’s CAC is off 1.6% as financials are seeing heavy selling. Societe Generale, BNP Paribas, and Credit Agricole are all seeing losses of at least 3.2%. Germany’s DAX is lower by 1.1% as financials are the biggest drag. Commerzbank leads the sector’s decline with a loss of 2.9% while rivals Allianz and Deutsche Bank are down 1.5% and 1.1% respectively.

08:32 am : [BRIEFING.COM] S&P futures vs fair value: -4.90. Nasdaq futures vs fair value: -9.80. Consumer prices increased by 0.3% during March, exactly as had been expected, on average, among economists polled by Briefing.com after overall prices increased by 0.4% in the prior month. Core consumer prices climbed by a more tepid 0.2%, which is actually in-line with the 0.2% increase that had been generally anticipated after a 0.2% increase in the prior month. Still to come is the preliminary reading on consumer sentiment for March from the University of Michigan at 9:55 AM ET.

07:59 am : [BRIEFING.COM] S&P futures vs fair value: -3.00. Nasdaq futures vs fair value: -8.00. Equity futures hold modest losses after China’s weaker than expected GDP reading (8.1% year over year actual versus 8.4% year over year expected). Futures briefly pared their losses following the earnings beat by JP Morgan Chase, but have since rolled back over. The investment banking giant beat on both the top and bottom lines, announcing revenues of $26.71 billion ($24.6 billion Captial IQ Consensus Estimate) and earnings per share of $1.31 ($1.15 Capital IQ Consensus Estimate). Today’s data is the most anticipated of the week as CPI and core CPI will be released at 8:30 am ET, and Michigan Sentiment crosses the wires at 9:55 am ET.

06:21 am : [BRIEFING.COM] S&P futures vs fair value: -2.00. Nasdaq futures vs fair value: -4.50.

06:21 am : Nikkei...9637.99...+113.20...+1.20%. Hang Seng...20701.04...+373.70...+1.80%.

06:21 am : FTSE...5677.43...-33.00...-0.60%. DAX...6675.87...-67.40...-1.00%.

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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