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 8:46 am

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: May 7th Monday 2012 Emini TF ($TF_F) points +3.60
PostPosted: Tue May 08, 2012 7:22 am 
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:
050712-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit-360.png
050712-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit-360.png [ 74.7 KiB | Viewed 270 times ]

click on the above image to view today's performance verification
please note the displayed points screen does not represent the commissions/fees screen


Price Action Trade Performance for Today: +3.60 points or $360 dollars in the Russell 2000 Emini TF ($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=104&t=1213.

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=152&t=1459

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

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 Claw Back Amid Europe Uncertainty

Attachment:
050712-Key-Price-Action-Markets.png
050712-Key-Price-Action-Markets.png [ 503.64 KiB | Viewed 244 times ]

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

NEW YORK (CNNMoney) -- U.S. stocks recovered Monday afternoon from modest losses earlier in the day, as investors considered the implications of leadership changes in France and Greece.

The Dow Jones industrial average (INDU) finished down 30 points, or 0.2%, while the S&P 500 (SPX) added less than half of a point and the Nasdaq (COMP) composite rose 1 point, or 0.1%. All three indexes started the day in the red, falling as much as 0.5%.

The swing from negative to positive territory mirrored the move in European markets. Stocks in France and Germany initially tumbled about 2% Monday, but bounced back as investors continued to digest the results. The DAX (DAX) in Germany finished up 1.8%, while France's CAC 40 (CAC40) rose 0.1%. British markets were closed for a holiday.

"The good news is that markets are reacting in a very mature fashion," Pimco Chief Executive Mohamed El-Erian told CNN International Monday. "The bad news is we have a lot of political uncertainty ahead of us still."

In France's presidential election, Socialist Francois Hollande defeated incumbent Nicolas Sarkozy, leaving investors worried about the future of austerity throughout Europe.

Unlike Sarkozy, Hollande advocates for more economic stimulus, but the extent to which Hollande will push his growth agenda remains to be seen. Still, his differing approach causes concern about how he might work with German Chancellor Angela Merkel, the key proponent of austerity.

"My belief is that this change in leadership won't be as terrible as the market initially thought," said Donald Selkin, chief market strategist at National Securities. "I don't see how austerity is the answer for countries like Italy, Spain and Greece. To get them out of the mess they're in, they need some economic stimulus."

While Hollande was leading the polls ahead of the election, and investors expected his win, "change breeds nervousness," said Anthony Conroy, head trader at ConvergEx Group.

In the Greek elections, the two most established parties both lost seats in parliament, leaving no party with anything close to the majority needed to form a government. The vote could set the stage for a new round of elections and could prolong uncertainty as to how Greece will comply with terms of the European bailout package.

U.S. stocks sold off Friday, ending the week lower, after the government's April jobs report came in weaker than expected.

* Video - El-Erian: Greece a bigger worry than France

Companies: Shares of Tyson Foods (TSN, Fortune 500) popped after the company posted better-than-expected results, and said it expects momentum to continue in the second and third quarters.

Shares of bailed-out insurer AIG (AIG, Fortune 500) fell, after the Treasury Department announced that it was planning to sell 163.9 million shares for $30.50 each -- down from Friday's closing price of $32.83.

Dow component Walt Disney (DIS, Fortune 500) rose after its film "The Avengers" smashed opening weekend box office records, with $200.3 million in domestic ticket sales. The numbers came in far above the previous record of $169.2 million set by "Harry Potter and the Deathly Hallows Part 2" last July.

Shares of Cognizant Technology Solutions (CTSH, Fortune 500) tumbled after the company lowered its full-year outlook.

Currencies and commodities: The dollar was higher against the euro and the Japanese yen, but was slightly lower versus the British pound.

Oil for June delivery continued to drop below the $100 a barrel mark it reached on Friday, falling 55 cents to settle at $97.94 a barrel.

Gold futures for June delivery fell $6.10 to settle at 1,639.10 an ounce.

Bonds: The price on the benchmark 10-year U.S. Treasury barely rose, and the yield held steady around 1.88%.

Economy: Consumer credit rose by $21.3 billion in March, nearly twice as much as expectations. Analysts surveyed by Briefing.com were forecasting consumer credit to expand by $11 billion in March, after an $8.7 billion increase in the month prior.

World markets: Most Asian markets ended sharply lower. While the Shanghai Composite (SHCOMP) closed unchanged, the Hang Seng (HSI) in Hong Kong lost 2.6% and Japan's Nikkei (N225) dropped 2.8%.

In addition to election results in Europe, Asian markets were also reacting to Friday's weak U.S. jobs report, which was released after their markets had closed for the week.

Image

Market Update

4:30 pm : The broad market spent most of the morning in the red with a narrow loss, but it mustered a modest gain in afternoon trade. Despite its effort, though, the stock market finished flat.

Financials offered leadership for most of the session, but the broad market was generally reluctant to follow. Still, the sector scored a 0.7% gain with help from shares of regional banks, along with diversified financial services players. Multi-line insurers remained weak, however.

Energy stocks were a heavy drag in the early going. The sector's slide to a loss in excess of 1% marked an extension of the downside action that it experienced in the second half of last week. Energy stocks actually overcame the selling pressure to fully reverse the losses and poke into positive territory before easing back to a 0.2% loss. In the backdrop, constant oil futures prices extended their Friday fall by violating a 200-day moving average and setting a 2012 low of a little less than $95.40 per barrel this morning, but prices recovered in afternoon action. The June contract settled with a 0.6% loss at $97.87 per barrel. It is down nearly 8% month to date.

Tech stocks, which collectively represent the largest sector by market weight, were largely lackluster. The sector suffered a 0.3% loss, which may not be very severe, but it stands as the worst showing of any major sector for the session.

The dollar managed to muster a very modest gain of about 0.1% against a basket of major foreign currencies. Its overnight gains were pared as concerns seemed to cool over the implications of a political shakeups in Europe, where polls showed that France has elected a Socialist into power and that members of Greece's parliamentary majority took a drubbing.

Advancing Sectors: Financials +0.7%, Telecom +0.4%, Health Care +0.2%, Consumer Staples +0.1%
Unchanged: Materials, Consumer Discretionary
Declining Sectors: Utilities -0.2%, Energy -0.2%, Industrials -0.2%, Tech -0.3%DJ30 -29.74 NASDAQ +1.42 NQ100 +0.1% R2K +0.3% SP400 +0.4% SP500 +0.48 NASDAQ Adv/Vol/Dec 1372/1.74 bln/1125 NYSE Adv/Vol/Dec 1624/754 mln/1373

3:30 pm : Crude oil extended losses from the overnight session in morning pit trade, touching a new 2012 low of $96.41 per barrel for the June contract. However, the energy component climbed back to cut its loss, settling 0.6% lower at $97.87 per barrel. It is down nearly 8% since May 1. Natural gas, on the other hand, spent its entire pit session in positive territory. It chopped around between $2.30 per MMBtu and $2.35 per MMBtu, finishing floor trade with a 2.2% gain at $2.33 per MMBtu. Since its recent low on April 19, its price is up more than 16%.

Gold and silver spent the entire pit session in negative territory, dropping as low as $1632.20 per ounce and $29.67 per ounce, respectively, in morning action. However, the precious metals cut some of those losses so that gold settled pit trade 0.4% lower at $1639.20 per ounce, while silver booked a 1.2% loss by closing at $30.06 per ounce.DJ30 -16.88 NASDAQ +5.98 SP500 +1.73 NASDAQ Adv/Vol/Dec 1460/1.35 bln/1045 NYSE Adv/Vol/Dec 1630/495 mln/1335

3:00 pm : The major equity averages have drifted into the final hour of the session. Action has been uninfluenced by the release of monthly consumer credit data.

According to recent reports, consumer credit totaled $21.4 billion in March. That is almost double the $11.0 billion that had been broadly expected among economists polled by Briefing.com.

Shares of many banks and consumer lenders continue to trade with varied gains -- Wells Fargo (WFC 33.55, +0.52), US Bancorp (USB 31.85, +0.18), PNC (PNC 66.17, +0.91), Capital One Financial (COF 54.78, +0.26), Discover Financial (DFS 33.55, +0.03). DJ30 +0.95 NASDAQ +10.25 SP500 +3.72 NASDAQ Adv/Vol/Dec 1470/1.23 bln/1010 NYSE Adv/Vol/Dec 1635/450 mln/1330

2:30 pm : Stocks have been unable to extend their afternoon climb. The loss of momentum has left the Dow to ease back into negative territory.

Although it isn't terribly far behind its counterparts, the Dow's relative weakness comes as blue chip names like IBM (IBM 204.27, -0.72), Hewlett-Packard (HPQ 24.00, -0.28), Caterpillar (CAT 97.74, -0.70), and Home Depot (HD 51.55, -0.41) all encounter selling pressure. DJ30 -5.52 NASDAQ +9.21 SP500 +3.07 NASDAQ Adv/Vol/Dec 1500/1.15 bln/975 NYSE Adv/Vol/Dec 1690/420 mln/1270

2:00 pm : Stocks have pushed up to session highs in recent trade. Financials, now up 0.8%, have provided the leadership necessary for such a move. However, Energy stocks have stalled near the flat line after rallying back from a loss of more than 1%.DJ30 +8.33 NASDAQ +13.66 SP500 +4.69 NASDAQ Adv/Vol/Dec 1490/1.04 bln/970 NYSE Adv/Vol/Dec 1615/380 mln/1310

1:30 pm : A sudden flurry of buying recently lefted the broad market to its best level of the day and even enabled the the Dow to poke into positive territory, but the move has failed to find traction, leaving stocks to ease back to earlier levels. The action comes as the dollar probes its session low, left clinging to a gain of only 0.1% against a collection of competing currencies.DJ30 -8.06 NASDAQ +7.24 SP500 +2.79 NASDAQ Adv/Vol/Dec 1375/935 mln/1055 NYSE Adv/Vol/Dec 1510/345 mln/1400

1:00 pm : Although the Energy sector has recovered and Financials are sporting a solid gain, the broad market continues to muddle along, only recently mustering a very modest gain.

The mood among early participants was moderately negative as concerns were raised regarding austerity plan commitments amid political shakeups in Europe. Stocks were able to quickly stem opening losses, though, and have since generally remained near the neutral line.

Energy stocks were an early drag, falling more than 1%, but the sector has since fully erased that loss. Oil prices extended their Friday fall by violating their 200-day moving average to set a 2012 low of less than $95.50 per barrel this morning, but the energy component is now down up about $2 from that mark so that it trades with a 1.2% loss at $97.35 per barrel.

Financials faltered after a strong start, but the sector is back to sporting an enviable gain as investment banks and diversified financial services plays push higher. Financials are up 0.6%, collectively.

The dollar has managed to maintain a very modest gain, which currently stands at a little more than 0.1%, after it had been up solidly in response to overnight volatility related to elections abroad.

In a similar vein, Treasuries are also clinging to incremental gains. DJ30 -15.97 NASDAQ +4.55 SP500 +1.73 NASDAQ Adv/Vol/Dec 1400/885 mln/1020 NYSE Adv/Vol/Dec 1545/325 mln/1340

12:30 pm : Energy stocks have made it back to the flat line after the sector was down in excess of 1% in the early going. The move higher comes as names like Transocean (RIG 48.70, +0.75) and Diamond Offshore Drilling (DO 65.15, +0.25) trade with enviable gains. Meanwhile, European integrated plays are performing especially well -- Total (TOT 47.05, +0.54) and BP Plc (BP 41.31, +0.35) are both sporting gains on the order of about 1%. The gains come even though the price of oil is still down more than 1% at about $97.35 per barrel, which is about $2 above its early morning low.DJ30 -29.97 NASDAQ -1.71 SP500 +0.04 NASDAQ Adv/Vol/Dec 1235/790 mln/1180 NYSE Adv/Vol/Dec 1330/290 mln/1560

12:00 pm : Listless, lackluster action has left stocks to continue chopping along narrowly beneath the neutral line. The action has also kept Treasuries in a tight trading range, but generally to the positive side of the flat line. The dollar has also maintained a very modest gain, which currently stands at a little more than 0.1%.DJ30 -33.53 NASDAQ -3.31 SP500 -0.64 NASDAQ Adv/Vol/Dec 1220/725 mln/1185 NYSE Adv/Vol/Dec 1280/260 mln/1605

11:30 am : Although oil prices are still down almost 2% at about $96.85 per barrel, Energy stocks have nearly halved their losses in recent trade. The action has left the sector trying to chip away at a 0.6% loss.

While Energy stocks are trying to recover from their morning drubbing, Tech stocks, which collectively represent the largest sector by market weight, continue to drag on broad market action as they fall to a 0.4% loss. Despite that, large-cap Tech names like Google (GOOG 602.57, +5.60), Cisco (CSCO 19.18, +0.06), and Texas Instruments (TXN 30.85, +0.26) are sporting solid gains. DJ30 -37.65 NASDAQ -2.60 SP500 -1.20 NASDAQ Adv/Vol/Dec 1255/570 mln/1125 NYSE Adv/Vol/Dec 1250/225 mln/1585

11:00 am : Energy stocks have descended deeper into negative territory as market participants consider the implications of lower oil prices, which is down almost 2% at about $96.60 per barrel. Oil services, exploration, and production players are grappling with some of the most aggressive selling pressure in the space.

Financials offered a lift to the broad market in the early going, but the sector has since faltered so that it trades with a 0.1% gain. Alongside diversified banks and financial services outfits, investment banks and brokerages are helping to prop up the space. Multi-line insurers remain weak, however. DJ30 -27.02 NASDAQ +3.86 SP500 -0.45 NASDAQ Adv/Vol/Dec 985/465 mln/1350 NYSE Adv/Vol/Dec 990/190 mln/1820

10:30 am : Oil prices have extended their early slide, leaving prices at $96.62 per barrel for a 1.9% loss. Earlier this morning prices broke below $95.50 per barrel to set a low for 2012, and violate the price's 200-day moving average of about $96.35 per barrel. In contrast, natural gas continues to sport a nice gain. It was last quoted at $2.42 per MMBtu, which makes for a 2.1% gain.

Pressure against precious metals has picked up in recent trade. That has gold grappling with a 0.7% loss at $1633 per ounce. Silver is in worse shape as it trades at $29.75 per barrel, which makes for a 2.3% loss. DJ30 -63.50 NASDAQ -8.41 SP500 -4.24 NASDAQ Adv/Vol/Dec 1100/335 mln/1195 NYSE Adv/Vol/Dec 1130/145 mln/1625

10:00 am : Underlying action remains mixed, keeping the broad market mired at the neutral line.

The dollar is gradually giving up its early morning gain. Its reversal has left it clinging to a gain of only 0.1% against a basket of major foreign currencies.

Meanwhile, Treasuries are also holding tight to incremental gains. DJ30 -24.98 NASDAQ +3.62 SP500 +0.34 NASDAQ Adv/Vol/Dec 945/118 mln/1225 NYSE Adv/Vol/Dec 1130/75 mln/1500

09:45 am : Stocks have pushed up from their openinging lows, but the move has stalled with the Nasdaq and S&P 500 at the neutral line, while the Dow contends with a narrow loss.

Financials are showing considerable strength in the early going. The sector is already up 0.5%, which makes it this morning's best performing sector. In contrast, Energy stocks are down 0.5% as a group, extending the weakness that they suffered in the second half off last week's trade. DJ30 -29.44 NASDAQ +0.98 SP500 +0.25 NASDAQ Adv/Vol/Dec NA/NA/NA NYSE Adv/Vol/Dec NA/NA/NA

09:15 am : S&P futures vs fair value: -6.00. Nasdaq futures vs fair value: -16.00. Stock futures continue to point to a modestly lower open as premarket participants settle down after a rather volatile reaction overnight to news that a Socialist has been elected to the position of President of France. Elections in Greece over the weekend also point to a shakeup in political power, presenting many investors with concerns about austerity plans in pockets of the eurozone. The dollar has attracted only a modest bid amid those concerns, however; it was last quoted with a gain of 0.2%.

09:05 am : S&P futures vs fair value: -5.80. Nasdaq futures vs fair value: -16.30. The dive by crude oil prices last Friday has extended into trade this morning. Such downward momentum has left the energy component to trade with a 0.8% loss at $97.70 per barrel. However, natural gas prices have pushed up 2.4% to $2.43 per MMBtu. Precious metals are under pressure, such that gold prices are down 0.4% to $1639 per ounce, while silver sits at $30.20 per ounce with a 0.8% loss.

08:35 am : S&P futures vs fair value: -5.80. Nasdaq futures vs fair value: -16.30. France's CAC has climbed out of negative territory so that it now trades with a 0.3% gain. Initial weakness came as participants there responded to news that incumbent President Sarkozy has lost the country's latest election to now President-elect Hollande, a Socialist. Elections for the country's parliament don't take place until June. Polls indicate that the citizens of Greece also voted for change in an election held over the weekend. A decidedly negative response to results has left the country's Athex 20 down nearly 8%. Widespread weakness in Britian, has taken the country's FTSE down nearly 2%. Tullow Oil, Man Group Plc, Rio Tinto (RIO 51.82, -0.09), and Anglo American Plc are among the poorest performers. Lloyds Group (LYG 2.04, +0.00), Weir Group, TESCO Plc, and International Plc are currently the only names that have put together any kind of a gain. Germany's DAX is down 0.6%. Linde AG, Deutsche Boerse, BASF, and Deutsche Lufthansa are leading losses. Commerzbank, Adidas, BMW, and Infineon Tech are among the handful of names that have managed to muster gains.

Overnight action in Asia was mostly negative. Japan's Nikkei took a 2.8% dive. Konami Corp plummeted nearly 20% to earn the dishonorable distinction of poorest performer. Nomura Holdings (NMR 3.77, +0.00) and Sharp Corp were also very weak. Of the entire Nikkei 225, only Tokyo Gas, Osaka Gas, All Nippon Airways, Odakyu Electric Railway, Keisei Electric Railway, and East Japan Railway were able to put together gains. Hong Kong's Hang Seng suffered similar losses. Its 2.6% tumble took it to a three-week low. The descent was led by a bevy of stocks, but Bank of China, South Sea Petroleum, CNOOC (CEO 208.62, +0.00), and Neway Group Holdings were among the heaviest drags. China's Shanghai Composite actually closed near the neutral line. Financials there were mostly mixed. Meanwhile, property players were pressured.

Note: ticker quotes reflect US premarket prices.

08:05 am : S&P futures vs fair value: -7.80. Nasdaq futures vs fair value: -18.80. Stock futures are down modestly this morning, but improved from overnight action. Premarket participants have been less influenced by the latest round of earnings amid political shakeups in Europe, where election results in France and Greece have raised questions about austerity plans. The greenback has gained buying interest, such that it currently sports a 0.3% lead against a basket of major foreign currencies. It already advanced about 1% through the course of last week. There isn' much economic data on tap for today; monthly consumer credit numbers will be released at 3:00 PM ET.

06:22 am : [BRIEFING.COM] S&P futures vs fair value: -10.00. Nasdaq futures vs fair value: -23.00.

06:22 am : Nikkei...9119.14...-261.10...-2.80%. Hang Seng...20536.65...-549.40...-2.60%.

06:20 am : FTSE...Holiday......... DAX...6498.36...-63.10...-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
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 8 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