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 Post subject: April 17th Tuesday 2012 Emini TF ($TF_F) points +13.10
PostPosted: Tue Apr 17, 2012 10:49 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:
041712-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit-1310.png
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click on the above image to view today's performance verification

Price Action Trade Performance for Today: +13.10 points or $1310 dollars in the Russell 2000 Emini TF ($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=1195.

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

4:15 pm : Equities finished near their best levels of the session as enthusiastic investors gobbled up shares after Spain was able to successfully raise EUR3.2 billion through the sale of 12- and 18-month bills. The auctions were met with robust investor demand despite the rise in yields, and shelved contagion fears for the time being. Today’s gains came despite disappointing housing starts and industrial production data which both missed market expectations.

Futures firmed up ahead of the opening bell after Coca-Cola, Goldman Sachs, and Johnson & Johnson all reported better than expected results.

Coca-Cola (KO 73.95, +1.51) rallied after the company announced better than expected earnings of $0.89 per share on revenues of $11.14 billion. The company had robust volume growth in emerging markets as India (+20%), China (+9%), and Brazil lead the way. However, the company warned the European financial crisis and slowdown in China may impact sales in those economies in the coming quarters.

Shares of Goldman Sachs (GS 116.86, -0.87) slipped 0.7%. Weakness comes after the company announced beat on both its top and bottom lines, announcing earnings per share of $3.92 on revenues of $9.95 billion. Annualized return on average common shareholders’ equity was 12.2% for the first quarter. Today’s selling comes after the stock ran into resistance at its 50-day moving average.

Johnson & Johnson (JNJ 64.22, +0.24) pared its early losses and finished the day with a 0.4% gain. The company announced earnings per share of $1.37 which was $0.03 better than the Capital IQ Consensus Estimate, and said revenues fell 0.2% year over year to an in-line $16.14 billion. Domestic sales for the company fell 2.2% while international sales declined 2.5% on an operational increase of 0.4% and a negative currency impact of 2.9%.

European financials saw strong gains on the heels of this morning’s Spanish bill auctions. Deutsche Bank (DB 46.31, +1.92) and Barclays (BCS 14.09, +0.53) both saw gains in excess of 3.5% while Spain's Banco Santander (STD 6.55, +0.12) underperforming with a 1.9% advance.

Apple (AAPL 609.70, +29.57) surged 5.1% after some early selling dropped the stock to a low of $571.91. Buyers emerged following five days of losses in which the stock dropped more than 9%. The company is scheduled to report its quarterly earnings on April 24.

Treasuries finished near session lows, but losses were rather contained as the long bond’s 0.4% decline to 99 12/32 paced the selling. The 10-yr yield ticked back above 2.00%, finishing at 2.009%. Steepening occurred along the yield curve as the 2-10-yr spread widened to 174 basis points.

Tomorrow’s data is limited to the weekly MBA Mortgage Index which is due out at 7 am ET.DJ30 +194.13 NASDAQ +54.42 SP500 +21.21 NASDAQ Adv/Vol/Dec 1939/1.49 bln/602 NYSE Adv/Vol/Dec 2352/709.8 mln/698

3:30 pm : Crude oil opened pit trade in positive territory and climbed higher in early floor trade before losing some steam when U.S. equity markets opened. After reaching a session high of $105.07 per barrel, crude pulled-back before settling pit trade with a 1.3% gain at $104.22 per barrel. Natural gas was the underperformer, plunging deeper into the red as its floor session progressed. It was unable to recover its early losses, and settled down 3.5% at a new 10-year low of $1.95 per MMBtu. Action in precious metals was mostly driven by the dollar. Although both gold and silver began pit trade in positive territory, the metals sold-off sharply into the red right as U.S. equity markets opened. Both precious metals fell to their respective session lows; however, this was short-lived as and both erased their losses over the next hour. Gold ended pit trade with a modest 0.1% gain at $1650.90 per ounce, while silver finished its floor session up 0.9% at $31.67 per ounce.DJ30 +199.73 NASDAQ +62.01 SP500 +22.24 NASDAQ Adv/Vol/Dec 2018/1.19 bln/526 NYSE Adv/Vol/Dec 2435/470.5 mln/615

3:00 pm : Treasuries finished near session lows, but losses were rather contained as the long bond’s 0.3% decline to 99 16/32 paced the selling. Two successful Spanish bill auctions sparked the early selling as contagion fears abated for the time being. The complex saw some buying following both sets of data as housing starts and industrial production both missed estimates, but sellers remained in control throughout the session as the flight into equities caused money to move out of the Treasury complex. A small loss in the 10-yr note caused the 10-yr yield to climb back above the 2.00% threshold. Steepening occurred along the yield curve as the 2-10-yr spread widened to 174 basis points. Tomorrow’s data is limited to the weekly MBA Mortgage Index which will be released at 7 am ET.DJ30 +192.01 NASDAQ +59.26 SP500 +21.42 NASDAQ Adv/Vol/Dec 2017/1.09 bln/504 NYSE Adv/Vol/Dec 2422/430.9 mln/641

2:30 pm : The major bourses remain near session highs as a 2.1% gain for the Nasdaq sets the pace. The Dow and S&P 500 are seeing solid gains of their own, trading up 1.5% and 1.6% respectively.

European financials are seeing strong gains on the heels of this morning’s Spanish bill auctions. The 12- and 18-month bill auctions raised EUR3.2 billion in fresh capital for the struggling nation as yields climbed despite and bid/covers were robust. Germany's Deutsche Bank (DB 46.33, +1.94) and Great Britain's Barclays (BCS 14.12, +0.56) are both seeing gains in excess of 4.0% while Spain’s Banco Santander (STD 6.61, +0.18) is underperforming with a 2.8% advance. DJ30 +196.67 NASDAQ +61.95 SP500 +22.30 NASDAQ Adv/Vol/Dec 2034/997.2 mln/480 NYSE Adv/Vol/Dec 2443/394.7 mln/600

2:00 pm : The dollar index has seen a relatively quiet session, holding small losses for most of U.S. trade. The index briefly climbed into positive territory following this morning's housing data, but quickly slipped back below the flat line where it holds a loss of 0.1% near 79.50. The dollar is seeing noticeable weakness against the Canadian dollar after the Bank of Canada held its benchmark interest rate steady at 1.00%, but noted a "reduced slack in the economy." That headline had traders dumping dollars in favor of the loonie with the dollar now down 1.2% to .9880. Another commodity currency, the Australian dollar, is seeing a 0.5% advance against the greenback as traders flock back into risk assets. The hard currency is seeing a bid despite the Reserve Bank of Australia monetary policy meeting minutes suggesting a rate cut may be forthcoming if inflationary pressures are contained. Trade remains quiet across the rest of the complex with the euro flat at 1.3135, and the pound up 0.3% near 1.5940.DJ30 +199.32 NASDAQ +58.18 SP500 +21.61 NASDAQ Adv/Vol/Dec 1976/919.0 mln/526 NYSE Adv/Vol/Dec 2440/362.1 mln/602

1:30 pm : Equities are holding strong gains as we progress into the afternoon, with the S&P 500 up 1.5%.

The Technology sector, which was a notable laggard yesterday, is one of the strongest sectors today with a 2.0% gain. This move comes ahead of some big tech-sector earnings reports, with IBM (IBM 206.43, +3.71), Intel (INTC 28.62, +0.21), Seagate (STX 28.31, -0.19) and Yahoo! (YHOO 15.10, +0.32) all due out with earnings after the close.

In addition to technology, the energy and materials sectors are also leaders in today's rally, both up 2%.

The utilities sector is a laggard, with a gain of just 0.4% today. DJ30 +199.58 NASDAQ +55.78 SP500 +21.17 NASDAQ Adv/Vol/Dec 1969/849.9 mln/516 NYSE Adv/Vol/Dec 2419/336.3 mln/603

1:00 pm : Equities hold strong gains in afternoon trade as this morning’s Spanish bill auctions and mostly better than expected earnings have more than offset the mixed economic data. The Spanish bill auctions saw solid demand as the maturities were inside the European Central Bank’s three-year Long-Term Refinancing Operations; and earnings from Coca-Cola, Goldman Sachs, and Johnson & Johnson all topped estimates. That has helped offset this morning’s disappointing housing starts and industrial production data which both fell short of analyst expectations.

Coca-Cola (KO 74.40, +1.96) is up 2.8% after the company announced better than expected earnings of $0.89 per share on revenues of $11.14 billion. The company had robust volume growth in emerging markets as India (+20%), China (+9%), and Brazil lead the way. However, the company warned the European financial crisis and slowdown in China may impact sales in those economies in the coming quarters.

Shares of Goldman Sachs (GS 118.49, +0.76) are off their best levels, but higher, after seeing a gain of 1.7% at the open. Today’s small gains come after the company announced beat on both its top and bottom lines, announcing earnings per share of $3.92 on revenues of $9.95 billion. Annualized return on average common shareholders’ equity was 12.2% for the first quarter. Today’s selling comes after the stock ran into resistance at its 50-day moving average.

Johnson & Johnson (JNJ 63.92, -0.06) has pared the majority of its losses, currently trading down % after this morning’s earnings. The company announced earnings per share of $1.37 which was $0.03 better than the Capital IQ Consensus Estimate, and said revenues fell 0.2% year over year to an in-line $16.14 billion. Domestic sales for the company fell 2.2% while international sales declined 2.5% on an operational increase of 0.4% and a negative currency impact of 2.9%. Today’s selling has the stock trading at the lower bound of its range that has been in place since mid-December.

Apple (AAPL 604.10, +23.97) is trading up 4.3% and at its best levels of the session after some early selling dropped the stock to a low of $571.91. Buyers have emerged following five days of losses in which the stock dropped more than 9%. The company is scheduled to report its quarterly earnings on April 24.

Treasuries continue to see light selling pressure with yields across the complex up close to two basis points. Selling of the 10-yr note has made for a rise of 2.3 basis points to 2.010%. A steeper yield curve has developed over the course of the session with the 2-10-yr spread wider at 174.5 basis points. DJ30 +199.54 NASDAQ +55.78 SP500 +21.08 NASDAQ Adv/Vol/Dec 1972/774.9 mln/503 NYSE Adv/Vol/Dec 2464/309.0 mln/552

12:30 pm : The major averages hold at session highs as all three are seeing gains of at least 1.5%. The Nasdaq continues to lead the way, trading up 1.8%.

Johnson & Johnson (JNJ 63.90, -0.08) has pared the majority of its losses, currently trading down 0.1% after this morning’s earnings. The company announced earnings per share of $1.37 which was $0.03 better than the Capital IQ Consensus Estimate, and said revenues fell 0.2% year over year to an in-line $16.14 billion. Domestic sales for the company fell 2.2% while international sales declined 2.5% on an operational increase of 0.4% and a negative currency impact of 2.9%. Today’s selling has the stock trading at the lower bound of its range that has been in place since mid-December. DJ30 +192.32 NASDAQ +52.41 SP500 +20.53 NASDAQ Adv/Vol/Dec 1971/705.4 mln/486 NYSE Adv/Vol/Dec 2453/286.8 mln/546

12:00 pm : Treasuries hold small losses in late morning trade as sellers entered the market to the extent one might have suspected given the strong bid in risk assets. This morning’s mixed data saw little reaction as trade holds near pre-data levels. Light selling across the complex has yields up as much as two basis points as the benchmark 10-yr yield holds near 2.00%. Slight steepening continues to take place along the yield curve as the 2-10-yr spread trades wider at 173.5 basis points.DJ30 +170.82 NASDAQ +47.74 SP500 +18.05 NASDAQ Adv/Vol/Dec 1947/614.9 mln/481 NYSE Adv/Vol/Dec 2432/254.5 mln/557

11:30 am : Equities continue to push higher with all three of the major averages seeing gains of at least 1.3%. The Nasdaq remains the top performing of the major averages, trading up 1.6%.

Apple (AAPL 597.80, +17.67) is trading up 3.1% and at its best levels of the session after some early selling dropped the stock to a low of $571.91. Buyers have emerged following five days of losses in which the stock dropped more than 9%. The company is scheduled to report its quarterly earnings on April 24. DJ30 +168.40 NASDAQ +45.46 SP500 +17.43 NASDAQ Adv/Vol/Dec 1945/538.8 mln/459 NYSE Adv/Vol/Dec 2446/225.0 mln/515

11:00 am : The major market averages trade at session highs with all three seeing gains in excess of 1.0%. A 1.4% advance has the Nasdaq leading the charge while the Dow and S&P are both seeing 1.2% gains.

Coca-Cola (KO 74.43, +1.99) is up 2.8% after the company announced better than expected earnings of $0.89 per share on revenues of $11.14 billion. The company had robust volume growth in emerging markets as India (+20%), China (+9%), and Brazil led the way. However, on its coference call, the company warned the European financial crisis and economic slowdown in China may impact sales in those economies over the coming quarters. DJ30 +152.13 NASDAQ +41.77 SP500 +15.48 NASDAQ Adv/Vol/Dec 1899/429.0 mln/452 NYSE Adv/Vol/Dec 2433/183.8 mln/482

10:35 am : The dollar index gained some momentum, which caused precious metals to sell off sharply. In more recent trade, the index is giving back those gains and is now back in negative territory at 79.50, down 0.1%.

In the energy space, May crude oil has been in positive territory all morning and recently hit a new session high of $105.07. Crude has pulled back just slightly, but remains just modestly under that new high, now at $104.70, up 1.7%.

May natural gas, on the other hand, has been in the red all morning and just fell to a new session low of $1.96. Currently, the energy component is at that session low, down 3.0%.

In metals, Apr gold and May silver sold off right around the time U.S. equity markets opened as the dollar index gained steam. Gold dropped about $18 in about 30, pulling it into negative territory and to a new session low of $1635.30. Silver lost almost 50 cents and momentarily dipped into the red. Currently, gold is -0.3% at $1644.20/oz, while silver is +0.5% at $31.54/oz.DJ30 +132.68 NASDAQ +36.99 SP500 +13.39 NASDAQ Adv/Vol/Dec 1859/327 mln/443 NYSE Adv/Vol/Dec 2316/146 mln/501

10:00 am : The major averafes have eased off their best levels, but hold a solid bid in early action. A 1.0% gain has the Nasdaq leading the way while the Dow and S&P 500 trail with advances of 0.8% and 0.7% respectively.

Shares of Goldman Sachs (GS 117.09, -0.64) have slipped into negative territory after seeing a gain of 1.7% at the open. Today’s weakness comes after the company announced beat on both its top and bottom lines, announcing earnings per share of $3.92 on revenues of $9.95 billion. Annualized return on average common shareholders’ equity was 12.2% for the first quarter. Today’s selling comes after the stock ran into resistance at its 50-day moving average. DJ30 +94.31 NASDAQ +28.29 SP500 +8.97 NASDAQ Vol 174.7 mln NYSE Vol 93.3 mln

09:45 am : Equities are holding strong gains in the opening minutes as earnings from Coca-Cola (KO 73.78, +1.34), Goldman Sachs (GS 117.91, +0.18), and Johnson & Johnson (JNJ 63.73, -0.25) have put a bid into equities. All three of the major averages are up at least 0.7% as the Dow leads the way with a 0.9% advance. Energy, financials, and industrials are the best performing sectors in the broad-based S&P 500. DJ30 +109.97 NASDAQ +25.91 SP500 +9.82 NASDAQ Vol 106.8 mln NYSE Vol 80.6 mln

09:15 am : [BRIEFING.COM] S&P futures vs fair value: +8.80. Nasdaq futures vs fair value: +12.20. Equity futures point to modest gains at the open as the Spanish auctions and mostly better than expected earnings are offsetting the mixed housing data. Shares of Coca-Cola, Goldman Sachs, and Johnson & Johnson will be in focus today after reporting their quarterly earnings. All three of the companies are seeing their stocks trade higher in pre-market action.

09:00 am : S&P futures vs fair value: +7.20. Nasdaq futures vs fair value: +11.50. Overseas markets are in the midst of another mixed session as Asian bourses closed mostly lower and European indices trade near their highs. Asian markets saw losses following yesterday’s mixed session on Wall Street and afer China announced foreign direct investment fell 2.8% year-to-date over year. Outperformance came from India’s Sensex (+1.2%) after the Reserve Bank of India cut is repo rate a surprise 50 basis points (25 basis points expected) to 8.00%. Meanwhile, European indices are bid following the Spanish bill auctions which saw solid demand as the maturities were inside the European Central Bank’s three-year Long-Term Refinancing Operations.

The major Asian indices finished lower (Nikkei -0.1%, Hang Seng -0.2%, Shanghai -1.0%) as investors remain cautious due to uneasiness over the Spanish economy. Japan’s Nikkei fell 0.1% as exporters underperformed on the stronger yen. Toyota Motor and Sony Corp. lost 0.9% and 2.3% respectively. Hong Kong’s Hang Seng declined 0.2% as stocks with exposure to Europe were under pressure. Clothing retailer Esprit shed 2.9% and Foxconn tumbled 5.9%. China’s Shanghai Composite gave up 1.0% and finished among the worst performing indices in the region. Property developers were weak as China Vanke and Poly Real Estate Group dropped 2.3% and 2.9% respectively.

European bourses remain near session highs (FTSE +0.8%, CAC +1.6%, DAX +1.1%) as the gains following the Spanish auctions have so far been able to hold. Financials are bid across the region as Barclays (+4.0%), Commerzbank (+3.3%), and Societe Generale (+5.7%) lead the advances in their respective indices.

08:32 am : [BRIEFING.COM] S&P futures vs fair value: +5.60. Nasdaq futures vs fair value: +8.30. Stock futures remain bid following the latest dose of data. Housing starts hit an annualized rate of 654,000 units in March. That's down from the prior month's downwardly revised rate of 694,000 units and less than the pace of 700,000 units that had been broadly expected. Building permits for March improved/declined to a rate of 747,000 from 715,000 in the prior month. That bested the rate of 710,000 that had been expected, on average, by economists polled by Briefing.com.

08:00 am : [BRIEFING.COM] S&P futures vs fair value: +5.60. Nasdaq futures vs fair value: +6.50. Equity futures hold just below session highs as the Spanish bill auctions and mostly better than expected earnings have helped provide a bid. Spain sold EUR3.2 billion worth of 12- and 18-month bills as investors continue to gobble up issuance that matures within the European Central Bank’s three-year Long-Term Refinancing Operation. Coca-Cola and Goldman Sachs both posted better than expected results, but are seeing mixed reactions with Coca-Cola up 0.9% and Goldman Sachs down 2.1% in pre-market trading. Meanwhile, shares of Johnson & Johnson are up 0.4% in pre-market trade after the company beat on earnings per share and posted in-line revenues. Today will see housing starts and building permits released at 8:30 am ET, as well as industrial production and capacity utilization which cross the wires at 9:15 am ET.

06:20 am : S&P futures vs fair value: +5.40. Nasdaq futures vs fair value: +7.0.

06:19 am : Nikkei...9464.71...-5.90...-0.10%. Hang Seng...20562.31...-48.30...-0.20%.

06:19 am : FTSE...5708.67...+42.40...+0.80%. DAX...6692.35...+67.20...+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

http://www.thestrategylab.com
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