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 Post subject: April 23rd Monday 2012 Emini TF ($TF_F) points +13.10
PostPosted: Tue Apr 24, 2012 1:10 am 
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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:
042312-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit-1310.png
042312-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit-1310.png [ 75.39 KiB | Viewed 254 times ]

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=1199.

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.

Stocks End Day Down On China, Europe Fears

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click on the above image to view today's price action of key markets

NEW YORK (CNNMoney) -- European political uncertainty and another sign of a slowdown in the Chinese economy pushed stocks down Monday, with the three major U.S. indexes falling more than 1% before rebounding somewhat in afternoon trading.

Investors reacted to news that French President Nicolas Sarkozy came in second place in the first round of elections there behind Socialist candidate Francois Hollande, who has been openly hostile to EU austerity measures.

Plus, the Dutch prime minister, Mark Rutte resigned, putting that country's prized AAA rating in jeopardy.

News of a slowdown in China's manufacturing sector also exacerbated investors' skittishness at the start of what will be a busy week on the economic and earnings front.

"The events over the weekend re-ignited concerns that the European community is going to have trouble working out a coordinated plan for austerity," said Douglas DePietro, head of equity sales trading at Evercore.

The Dow Jones industrial average (INDU) ended the day down 102 points, or 0.8%. The S&P 500 (SPX) shed 12 points, or 0.8%, and the Nasdaq (COMP) lost 30 points, or 1%.

In the U.S., Wal-Mart (WMT, Fortune 500) dragged down the Dow after it was hit by allegations that top executives in its Mexican division attempted to conceal a widespread bribery scheme.
0:00 /1:47No smiley faces at Wal-Mart

Shares closed down nearly 5%, and shares of its publicly traded Mexico unit dropped nearly 12%. The company says it is investigating the allegations.

U.S. stocks finished mostly higher Friday, as investors welcomed another round of strong earnings from corporate America and positive news out of Europe. However, the tech-heavy Nasdaq finished lower for a third straight week.

Europe: French President Sarkozy, one of the architects of the European agreement to avert sovereign debt default, lost the first round of elections and will face Hollande in a May 6 runoff.

* Europe: 'Dark clouds on the horizon'

Meanwhile, the Dutch Prime Minister's resignation prompted new elections, after one of his coalition partners in the government withdrew due to negotiations over the 2013 budget. This could place the Netherlands' AAA credit rating at risk, according to Kathleen Brooks, research director of Forex.com.

"Holland was once considered a 'safe' triple A nation, however, that may not be the case," Brooks wrote in a note to clients Monday. "The Netherlands has overtaken France as the largest political risk this week."

The latest reading on eurozone manufacturing also fell unexpectedly Monday to the lowest level since November, a sign that the 17-nation block has fallen further into recession.

Worries that the problems in Europe are still not over were further driven home by Christine Lagarde, the managing director of the International Monetary Fund. Lagarde warned at meetings of the IMF and World Bank over the weekend that the "dark clouds on the horizon" for the global economy threatened the "light recovery blowing in a spring wind."

European stocks ended sharply lower on Monday. Britain's FTSE 100 (UKX) shed 1.85%, while the DAX (DAX) in Germany plunged 3.4% and France's CAC 40 (CAC40) dropped 2.8%.

World markets: Fueling investor concerns about the global economy was a preliminary reading on Chinese manufacturing released early Monday, showing a contraction for the second straight month.

Asian markets ended lower across the region. The Shanghai Composite (SHCOMP) shed 0.8%, the Hang Seng (HSI) in Hong Kong closed down 1.8% and Japan's Nikkei (N225) slid 0.2%.

Companies: It was a busy merger Monday with two deals announced ahead of the open. Dow component Pfizer (PFE, Fortune 500) reached an agreement to sell its baby formula business to Nestlé (NSRGF) for $11.85 billion in cash. And AstraZeneca (AZN) announced it is buying Ardea Biosciences (RDEA), a California-based biotechnology company, for $1.3 billion, or $32 a share -- a 54% premium from Friday's closing price.

On Monday afternoon, Facebook announced that it would spend $550 million to buy part of Microsoft (MSFT, Fortune 500)'s patent portfolio that it acquired from AOL (AOL) two weeks ago for $1 billion.

Xerox (XRX, Fortune 500), ConocoPhillips (COP, Fortune 500), and Kellogg (K, Fortune 500) released first-quarter results ahead of the opening bell.

Xerox reported adjusted earnings of 23 cents a share, unchanged from a year earlier and matching forecasts. Its shares spiked following the report, but closed up only slightly. ConocoPhillips posted improved earnings of $2.02 a share, but it fell short of forecasts of a $2.08 a share. Its shares lost 0.8%.

Kellogg's shares plummeted 6% after the cereal company cut its outlook citing the slowdown in Europe.

* Can Netflix pull a rabbit out of its hat?

Shares of Netflix (NFLX) dropped nearly 14% in after hours trading on a weak outlook for the current quarter. Netflix managed to beat analysts' estimates but that wasn't enough to help the stock. The company reported a first quarter loss of 8 cents per share better than forecasts for a 27 cents per share loss.

Currencies and commodities: One piece of good news for the U.S. economy is that average gas prices continued to retreat farther away from the $4 level.

The biweekly Lundberg Survey marked its first decline of the year, while the daily survey from AAA showed its seventh straight decrease, further raising hopes that gas prices might have already peaked for the year.

* Gas prices keep easing away from $4

Oil for June delivery fell 77 cents to $103.11 a barrel.

The dollar gained strength against the euro and the British pound, but slipped against the Japanese yen.

Gold futures for June delivery lost $10.20 to $1,632.60 an ounce.

Bonds: The price on the benchmark 10-year U.S. Treasury edged higher, pushing the yield down slightly to 1.93%.

Image

Market Update

2:30 pm : A recent spurt of buying has lifted the major equity averages to new afternoon highs. The move comes right around the same time that word has surfaced from an official of Brazil that the country's economic growth will exceed market expectations. It is not yet clear, though, if those comments are actually driving buying interest, especially since today's selling initially stemmed from concerns about China and the eurozone. Either way, stocks still face a challenge in sustaining the move amid such persistent, widespread weakness.DJ30 -115.30 NASDAQ -30.45 SP500 -12.03 NASDAQ Adv/Vol/Dec 500/1.16 bln/1985 NYSE Adv/Vol/Dec 620/440 mln/2355

2:00 pm : The S&P 500 continues to dance along the 1365 line with 1% loss. Such weakness has caused the Volatility Index to rise sharply. Euphemistically labeled the Fear Gauge, it is currently up more than 11%, but still shy of its monthly high.

Energy stocks have rolled back into the red. The sector, which was recently at the flat line after it had been down well in excess of 1% this morning, is now back to a 0.3% loss. It is still today's top performing sector, however.

Materials stocks are at the opposite end of the spectrum today, even though resource-related stocks often trade in close correlation. As a group, Materials stocks are down 1.8%, largely because of weakness in metals and mining plays. DJ30 -142.66 NASDAQ -36.20 SP500 -14.83 NASDAQ Adv/Vol/Dec 520/1.07 bln/1955 NYSE Adv/Vol/Dec 650/400 mln/2325

1:30 pm : Stocks have flattened out in recent trade, leaving the major equity averages to continue wrestling with losses on the order of 1%.

Energy stocks, which overcame a loss of about 1.5% to trade flat, have been unable to extend their climb. Instead, the sector remains mired near the neutral line.

Meanwhile, the Consumer Staples sector is stuck near its session low with a loss of about 1.7%. Only Materials stocks are in such bad shape. DJ30 -137.78 NASDAQ -34.36 SP500 -13.87 NASDAQ Adv/Vol/Dec 485/1.00 bln/1990 NYSE Adv/Vol/Dec 615/380 mln/2355

1:00 pm : Stocks have been working to recover from an early slump, but broad market losses remain pronounced.

Underwhelming economic data from China and disappointing reports from Germany and France combined with renewed concerns about eurozone budgets to take a heavy toll on stocks this morning. The opening slump only slowed when the S&P 500 came in contact with its monthly closing low, which is separated from its monthly intraday low by roughly one point.

Although stocks have slowly trended higher since then, the broad market remains on pace for its poorest performance in about 10 calendar days. Energy stocks have managed to fully slash their losses in the face of such weakness. In fact, the sector has poked into positive territory for a fractional gain, even though oil prices are still down more than 1% at $102.50 per barrel. Earlier today oil prices dipped below $102 per barrel.

ConocoPhillips (COP 72.41, -0.47) hasn't quite turned its loss into a gain, however. The stock's lingering weakness comes after the integrated energy company announced this morning earnings that came short of what Wall Street had expected. Most other quarterly reports, including those of Brinker (EAT 30.69, +2.79) and SunTrust (STI 23.34, +0.74), bested expectations for the bottom line, but the batch hasn't received much attention amid renewed macro concerns.

An interest in safety has helped take the dollar higher, such that the Dollar Index has held steady to a gain of about 0.4% for the day, while demand for the 10-year Treasury took its yield down to a monthly low closer to 1.90%. Gold has failed to garner buying interest, leaving prices to trade in the red for the day. DJ30 -144.29 NASDAQ -37.26 SP500 -14.82 NASDAQ Adv/Vol/Dec 495/935 mln/1955 NYSE Adv/Vol/Dec 615/350 mln/2335

12:30 pm : Stocks continue to steadily left off of session lows. They still have a ways to go before fully offsetting today's losses. In fact, the S&P 500 remains on pace for its poorest single-session performance in 10 calendar days. As an aside, the broad market measure has booked only five losses of at least 1% in 2012.DJ30 -135.23 NASDAQ -33.85 SP500 -13.65 NASDAQ Adv/Vol/Dec 480/870 mln/1975 NYSE Adv/Vol/Dec 595/325 mln/2345

12:00 pm : The Energy sector remains on the mend. In fact, it is now flat for the day. The move higher from a loss well in excess of 1% has been led by the likes of Exxon Mobil (XOM 85.55, +0.25), Schlumberger (SLB 72.05, +0.35), and Baker Hughes (BHI 41.23, +0.77). Shares of XOM actually received an analyst upgrade this morning.DJ30 -130.89 NASDAQ -37.65 SP500 -13.89 NASDAQ Adv/Vol/Dec 405/765 mln/2015 NYSE Adv/Vol/Dec 520/295 mln/2405

11:30 am : The stock market is slowly working its way up from its session low, but it continues to wrestle with a loss in excess of 1%.

Although oil prices are still down nearly 2% to about $102 per barrel, Energy stocks have been faster in their attempt to rebound. The sector was down about 1.5% at its session low, but it has since slashed that loss to just 0.6%. Of the major sectors, only Telecom is in better shape; Telecom stocks are down 0.3% today.

Benefiting from the Energy sector's upward push, shares of ConocoPhillips (COP 72.46, -0.42) have been trimming their losses after setting a monthly low in response to an earnings miss this morning. DJ30 -147.35 NASDAQ -45.95 SP500 -16.55 NASDAQ Adv/Vol/Dec 365/625 mln/2015 NYSE Adv/Vol/Dec 440/250 mln/2445

11:00 am : The S&P 500 appears to have stabilized. Its descent steadied when it came in contact with its monthly closing low of 1358, or within roughly one point of its monthly intraday low of 1357. In contrast, the Nasdaq Composite recently extended its slide to notch a new monthly low, but it still has a way to go before a test of its two-month low of 2900 becomes something to monitor.DJ30 -138.19 NASDAQ -50.91 SP500 -16.61 NASDAQ Adv/Vol/Dec 325/530 mln/2040 NYSE Adv/Vol/Dec 390/210 mln/2480

10:30 am : Overall weakness in the commodity complex has the CRB Index down 0.9%. Its slide comes as an extension of the downtrend that has taken it lower in five consecutive weeks for a cumulative decline of more than 5%.

Gold has failed to garner buying interest, despite its defensive characteristics. The yellow metal was last quoted with a 0.8% loss at $1629.70 per ounce. Silver is in even worse shape; it was last quoted with a 3.3% loss at $30.61 per ounce.

Crude oil futures prices are down 1.8% to $102.05 per barrel after recently slipping below a mark of $102 per barrel.

Although most of the commodity complex is contending with concerted selling pressure, natural gas prices have pushed up sharply to $1.98 per MMBtu for a 2.6% gain. The energy component is only fractionally shy of its session high. DJ30 -168.62 NASDAQ -45.34 SP500 -18.41 NASDAQ Adv/Vol/Dec 280/335 mln/2035 NYSE Adv/Vol/Dec 335/150 mln/2490

10:00 am : Aggressive selling continues to keep stocks down with sharp losses.

Materials stocks are being punished the most among the major sectors. Their 2.3% loss comes as steel stocks slump and shares of diversified metals and miners get cut down. Gold stocks are also being punished as the price of the precious metal drops nearly 1% to just under $1630 per ounce, despite its defensive characteristics. DJ30 -166.75 NASDAQ -48.95 SP500 -18.65 NASDAQ Adv/Vol/Dec 290/175 mln/1960 NYSE Adv/Vol/Dec 350/95 mln/2415

09:45 am : The major equity averages are all down in excess of 1% as a concerted selling effort takes hold of stocks. Financials, Materials, Energy, and Industrials are in the worst shape -- each sector is down roughly 1.5% or more.

Telecom stocks, which displayed relative strength last week, are holding up relatively well in the face of widespread weakness. More specifically, the sector has managed to limit its loss to only 0.3%, thanks to support from integrated telecom plays. UK-based global telecommunications outfit Vodafone (VOD 27.76, +0.07) is actually sporting a gain. DJ30 -133.73 NASDAQ -32.25 SP500 -14.95 NASDAQ Adv/Vol/Dec NA/NA/NA NYSE Adv/Vol/Dec NA/NA/NA

09:15 am : S&P futures vs fair value: -13.90. Nasdaq futures vs fair value: -20.50. Stock futures point to a decidedly lower open for trade today. The negative bias stems from concerns about the eurozone economy and the ability of some members, namely France and Netherlands, to maintain budgets amid political uncertainty. Underwhelming data from China has also undermined sentiment this morning, while strong earnings results have received little attention. Although safety seekers have avoided gold, which is currently down by about 1%, demand for the dollar has the greenback up about 0.4% against a basket of major foreign currencies. Meanwhile, the benchmark 10-year Note's yield has dropped to a monthly low near 1.93%. Earlier today the yield on Germany's 10-year Bund fell to a record low of about 1.57%.

09:05 am : S&P futures vs fair value: -14.70. Nasdaq futures vs fair value: -20.80. Many key commodities are being clipped by sellers this morning. Their efforts have dropped oil prices to $102.08 per barrel for a 1.7% loss, although natural gas prices are now up 0.5% to $1.94 per MMBtu. Even precious metals have failed to find demand from safety seekers. As such, gold prices have descended to $1626.30 per ounce for a 1.0% loss, while silver has slumped to $30.69 per ounce for a 3.0% loss. Collective weakness in the commodity complex has the CRB Index down 0.9%. The drop by the CRB marks an extension of its downtrend, which has taken the CRB lower for five consecutive weeks.

08:35 am : S&P futures vs fair value: -12.80. Nasdaq futures vs fair value: -18.50. Action in Europe is decidedly weak after budget talks among officials in the Netherlands fell apart, and a recent poll suggests that France's political makeup could experience a shakeup. Those developments have brought into question the ability of eurozone members to remain committed to fiscal and financial reform. Selling interest has been further stoked by disappointing PMI readings from both France and Germany. Germany's DAX is currently down 2.8%. While all 30 of its constituents are in negative territory, Commerzbank and Man SE are among the poorest performers. Widespread weakness has also weighed heavily on France's CAC, which is currently off by 2.1%. Britain's FTSE is presently off by 1.9%. British Sky Broadcasting and Vodafone (VOD 27.86, +0.17) are its only two stocks that have managed to score gains. Note: ticker quotes reflect US premarket prices.

Overnight action in Asia was weak with Japan's Nikkei falling to a 0.2% loss. Kawasaki Kisen and Mitsui Chemicals were heavy drags, but Sharp Corp and JFE Holdings provided support. JFE Holdings actually posted a net loss for its latest fiscal year. Hong Kong's Hang Seng sank to a 1.8% loss. Bank of China, Industrial & Commercial Bank of China, and China Construction Bank led the slide. Agricultural Bank of China was also decidedly weak. Mainland China's Shanghai Composite closed 0.8% lower. The latest preliminary HSBC manufacturing PMI for China showed improvement from the prior month, but continued to point to contraction in overall activity. China Shipbuilding Industry and China United Network Communications staged strong gains, but CITIC Securities, Haitong Securities, and Maidu Holding were heavy drags on trade.

08:05 am : S&P futures vs fair value: -14.50. Nasdaq futures vs fair value: -22.00. Stock futures are down sharply this morning. Selling has even extended into the commodity complex, such that oil futures prices are down roughly 1%. The negative tone comes as weakness undermines action abroad.

Broad losses were booked overnight among Asia's major averages, while pronounced selling pressure has several of Europe's major bourses contending with losses in excess of 2%. The dramatic action of Europe comes amid revived concerns about commitment to see through fiscal and financial reform in the eurozone. Underwhelming data from both China and the eurozone are also in play today. Given the implications of such themes, the greenback has garnered attention from safety seekers, such that the Dollar Index is up 0.4%.

Premarket participants have essentially shrugged off the latest round of generally earnings reports, most of which have been better than expected. There are no major economic reports scheduled for release today.

06:23 am : [BRIEFING.COM] S&P futures vs fair value: -13.00. Nasdaq futures vs fair value: -20.50.

06:23 am : Nikkei...9542.17...-19.20...-0.20%. Hang Seng...20624.39...-386.30...-1.80%.

06:23 am : FTSE...5679.25...-92.90...-1.60%. DAX...6572.13...-178.00...-2.60%.

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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