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 7:52 am

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: June 4th Monday 2012 Emini TF ($TF_F) points +4.00
PostPosted: Tue Jun 05, 2012 2:22 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:
060412-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit-400.png
060412-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit-400.png [ 76.22 KiB | Viewed 301 times ]

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

Price Action Trade Performance for Today: +4.00 points or $400 dollars in the Russell 2000 Emini TF ($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=105&t=1237.

To join our free chat room...log-in 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=162&t=1492

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

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 Dominated By Investor Fear

Attachment:
060412-Key-Price-Action-Markets.png
060412-Key-Price-Action-Markets.png [ 629.77 KiB | Viewed 321 times ]

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

NEW YORK (CNNMoney) -- Worries about a global growth slowdown and uncertainty surrounding Europe's debt crisis kept investors on edge and trading choppy on Monday.

Still, U.S. markets ultimately closed the day not far from where they opened.

"Europe is front and center, back, left and right," said Dan Greenhaus, chief global strategist at BTIG.

Anxieties over the health of the Spanish banking system and the possibility that Greece could soon exit the euro remain high.

"Last week was so terribly negative that even the absence of negative news gives some support to the market," Greenhaus added.

Still it's impossible to ignore the fear factor still gripping the markets as 10-year Treasury yields remain near all-time record lows. That shows that global investors are willing to forego returns simply for the safety of holding debt backed by the U.S. government.

* Fear and Greed Index

CNNMoney's Fear and Greed Index remained deeply entrenched in extreme fear territory.

There are also worries about slowing growth in emerging markets such as China and India. Recent reports out of China last week showed the manufacturing sector contracted more than expected in May.

The S&P 500 (SPX) closed flat. The Nasdaq (COMP) gained 12 points, or 0.5%. The Dow Jones industrial average (INDU) dropped 17 points, or 0.1%.

Trading was light on both sides of the Atlantic Monday, according to several traders. Investors are wary of making major moves before they know whether central bankers in Europe and the U.S. would consider further stimulus.

* Investors pin hopes on central bankers

Investors are betting that European leaders might be willing to make tough choices to stave off larger problems in the region.

"There's a belief that with their backs against the wall, European leaders will at least come up with a short-term resolution to help the Spanish banking system," said Peter Boockvar, equity strategist at Miller Tabak.

U.S. stocks tumbled more than 2% Friday in the worst trading day of the year. The Dow erased all its gains for 2012, and the S&P 500 and Nasdaq moved into correction territory -- down more than 10% from the year's highs.

Bond prices retreated slightly in Monday trading, allowing the yield on the 10-year note to rise just above 1.5%.

* Video - Healthy Pullback Or New Bear Market?

World markets: European stocks closed mixed. The DAX (DAX) in Germany fell 1.2%, while France's CAC 40 (CAC40) rose 0.1%. British markets were closed for a bank holiday.

Asian markets ended lower in their first day of trading since the U.S. jobs report. The Shanghai Composite (SHCOMP) tumbled 2.7%, and the Hang Seng (HSI) in Hong Kong fell 2%. The Nikkei (N225) in Tokyo fell 1.7%.

Economy: Factory orders declined 0.6% in April, the government reported Monday. The report was weaker than the 0.1% increase expected by economists surveyed by Briefing.com. The March decline was revised to a deeper 2.1% drop.

* Post-Facebook IPO market frozen

Companies: Shares of Facebook (FB), which have gotten hammered since the company's IPO, continued to fall.

Groupon (GRPN) shares dropped more than 7% after falling sharply Friday. The online discount service, which has been dogged with questions about its accounting practices since its initial public offering in November, ended its lock-up period Friday, meaning that insiders who own shares are now able to sell them.

Shares of Chesapeake Energy (CHK, Fortune 500) rose after the embattled natural gas company said it is replacing four members of its board of directors in response to urging from two of its largest shareholders, including Carl Icahn.

Shares of AutoNation (AN, Fortune 500), the largest U.S. car dealership, jumped after it reported its May new car sales rose 45%. That was almost twice as good as the 26% rise in industry-wide U.S. car sales reported by major automakers Friday. But the industry-wide sales pace was generally less than forecast, as it was the weakest pace of 2012.

Shares of Starbucks (SBUX, Fortune 500) rose after the coffee chain said its top executives would discuss new steps to boost its domestic retail business later Monday.

Research in Motion's (RIMM) stock sank to a low not seen since 2003 amid growing speculation that the BlackBerry maker will soon put itself up for sale.

Currencies and commodities: The dollar rose against the euro and Japanese yen, but fell versus the British pound.

Oil for July delivery gained $1.07 to $84.30 a barrel.

Gold futures for August delivery lost 70 cents to $1,621.40 an ounce.

Image

Market Update

4:30 pm : An afternoon squeeze helped stocks slash losses, but neither the S&P 500 nor the Dow was able to turn a gain. In contrast, the Nasdaq managed to push into positive territory and settle at a session high.

A disappointing non-manufacturing PMI reading from China had dampened sentiment ahead of the open, but market participants became encouraged by a bounce by several of Europe’s bourses. The improved tone proved to be short lived, though; stocks made a modest uptick in the opening minutes of action, but quickly reversed into the red. The major equity averages were down with sizable losses that made for new multi-month lows before they were able to stabilize.

Tech offered leadership to an afternoon squeeze that took the S&P 500 just past the flat line. The broad market measure was unable to extend the move into a meaningful gain because of resistance there. Stocks made a final push into the close, but the S&P 500 was once again rebuffed where it began the session. The Dow also failed to extend its final push into positive territory, but the Nasdaq was able to book a nice gain. The Nasdaq 100 scored an even stronger gain

Although Tech takes most of the credit for leading the stock market’s afternoon rebound, Telecom was the best performing sector of the session. Telecom scored a 0.7% gain, helping to extend the near 3% advance that it achieved in May, when no other major sector was able to score a monthly gain.

Financials and Industrials were at the opposite end of things. Both sectors fell 1.0%. Financials were burdened by bank stocks, while Industrials were undercut by weakness in construction and farming machinery issues.

The CRB Commodity Index managed to snap a four session losing streak that saw it fall for a cumulative decline of nearly. The Energy complex was particularly helpful as crude oil scored a 0.9% gain at $83.95 per barrel. Shortly before the close it set a session high of $84.17 per barrel.

Little regard was given to a strong bounce by the euro while the stock market was in retreat mode this morning. The action contrasts with that of recent weeks, during which the euro was widely regarded as a primary cue for market participants. Nonetheless, the euro advanced about 0.7% against the greenback today.

Advancing Sectors: Telecom +0.7%, Financials +0.5%, Consumer Discretionary +0.5%, Utilities +0.4%, Health Care +0.3%, Consumer Staples +0.3%, Materials +0.1%
Unchanged: Energy
Declining Sectors: Financials -1.0%, Industrials -1.0%DJ30 -17.11 NASDAQ +12.53 NQ100 +0.8% R2K +0.0% SP400 -0.5% SP500 +0.14 NASDAQ Adv/Vol/Dec 1245/1.75 bln/1267 NYSE Adv/Vol/Dec 1288/824 mln/1734

3:30 pm : The CRB Index fell in four straight sessions for a cumulative decline of nearly 5%, but that losing streak was snapped today. With help from the Energy complex the CRB scored a 0.6% gain.

Crude oil chopped around near the unchanged line for most of its pit session after spending electronic trade in the red. However, the energy component garnered buying interest in the last hour of pit action, and traded up to a session high of $84.17 per barrel moments before finishing with a 0.9% gain at $83.95 per barrel. Natural gas started the week on a positive note as it trended higher in today's pit trade. It rallied to a session high of $2.43 per MMBtu as it headed into the close and settled at $2.41 per MMBtu for a gain of 3.9%.

Precious metals reversed Friday's advance during today's pit trade, despite a drop in the dollar. Gold chopped around near the unchanged line in morning action before it fell into negative territory and touched a session low of $1610.00 per ounce. After attempting a slight recovery it settled at $1614.40 or 0.4% lower. Silver struggled in the red for its entire floor session. It dipped to a session low of $27.95 per ounce and settled at $28.03 per ounce for a 1.7% loss.DJ30 -30.09 NASDAQ +3.89 SP500 -2.10 NASDAQ Adv/Vol/Dec 1140/1.31 bln/1360 NYSE Adv/Vol/Dec 1100/500 mln/1910

3:00 pm : With only 60 minutes remaining in trade today the stock market has become mired near the neutral line after attempting to poke into positive territory. Still in question, though, is whether or not selling will resume so that stocks suffer their fourth straight loss; during the course of the past three sessions the S&P 500 has fallen 4%.

Only a few companies are scheduled to report quarterly results between today's close and tomorrow's open; none will move the market. Tomorrow's economic calender features only the latest ISM Services Index. Economists generally expect the Index to ease down from the prior month reading. DJ30 -20.70 NASDAQ +5.61 SP500 -1.30 NASDAQ Adv/Vol/Dec 1160/1.18 bln/1315 NYSE Adv/Vol/Dec 1100/450 mln/1900

2:30 pm : Stocks have been working their way higher in recent trade. The squeeze has actually taken the Nasdaq to the neutral line, but both the Dow and S&P 500 still have some ground to make up.

Tech stocks are helping to lead the effort. The sector, which is the heaviest by market weight, is now sporting a 0.3% gain. Still, Telecom stocks are sporting the most impressive gains; they've been out in front of the broad market almost all session and are now up about 0.8% as a group. DJ30 -25.81 NASDAQ -0.11 SP500 -3.02 NASDAQ Adv/Vol/Dec 990/1.09 bln/1485 NYSE Adv/Vol/Dec 835/415 mln/2145

2:00 pm : Stocks have ticked up from session lows, but losses remain both broad and sizable. Should pressure persist into the close, stocks will book their fourth straight loss.

Although stocks are still in weak shape, Treasuries remain under pronounced pressure, such that the benchmark 10-year Note is now down more than 20 ticks so that its yield is a few basis points above 1.50%. DJ30 -69.78 NASDAQ -15.17 SP500 -9.07 NASDAQ Adv/Vol/Dec 945/980 mln/1525 NYSE Adv/Vol/Dec 745/370 mln/2225

1:30 pm : Stocks are still at session lows with sizable losses. The slide has pushed up the Volatility Index, which is now above 27 for a new 2012 high.

Industrials are in the worst shape of any major sector. As a group they are down 1.8%. Caterpillar (CAT 82.76, -2.76) and Deere (DE 69.53, -1.99) are leading the sector's slide. Its tumble comes after it dropped to a loss of almost 3% this past Friday. DJ30 -79.89 NASDAQ -18.97 SP500 -10.62 NASDAQ Adv/Vol/Dec 1005/915 mln/1460 NYSE Adv/Vol/Dec 810/345 mln/2150

1:00 pm : Stocks benefited from a modest bid at the open, but support quickly reversed. Stocks have since slid to sizable losses and left the S&P 500 essentially unchanged for the year.

A positive tone to trade in Europe helped market participants look past a disappointing non-manufacturing PMI reading from China this morning. The euro reflected the improved sentiment in Europe; it has since extended its advance so that it leads the greenback by about 0.6%.

Despite the euro's advance, stocks have resumed their slide. Cyclical plays are under the most pressure -- Financials, Materials, Energy, and Industrials are all down in excess of 1%. In contrast, Telecom is up 0.5% as the sector continues to display strength in the face of broad market weakness; it was the only sector to book a monthly gain in May by gaining almost 3%.

Although participants are displaying a preference for defensive-oriented stocks, safe havens like Treasuries and gold have been in the red after they performed impressively this past Friday. DJ30 -68.65 NASDAQ -14.94 SP500 -9.35 NASDAQ Adv/Vol/Dec 970/815 mln/1465 NYSE Adv/Vol/Dec 800/310 mln/2140

12:30 pm : Stocks are at fresh session lows as selling intensifies. Weakness remains relatively broad with every sector except Telecom and Utilities -- up 0.4% and 0.1%, respectively -- in negative territory.DJ30 -72.51 NASDAQ -18.15 SP500 -10.48 NASDAQ Adv/Vol/Dec 1050/715 mln/1380 NYSE Adv/Vol/Dec 1015/270 mln/1925

12:00 pm : Stocks are slowly working their way lower, but the major equity averages sill aren't yet back to the depths they set in the early going. Despite the downtrend, Telecom issues remain near their session highs, sporting a collective gain of 0.7%.

Many market pundits point to today's broad market weakness as being technically driven. That would help explain why stocks have generally dismissed a strong 0.7% bounce by the euro, which has been a primary catalyst for trade in recent weeks. DJ30 -37.09 NASDAQ -10.56 SP500 -5.98 NASDAQ Adv/Vol/Dec 1120/630 mln/1280 NYSE Adv/Vol/Dec 1065/240 mln/1855

11:30 am : Telecom has extended its advance so that the sector now sports a 0.7% gain. In contrast, Industrials have fallen to a new session low, where they trade with a 1.1% loss. The divergance between the two sectors comes as market participants continue their rotation into defensive-oriented issues like Telecom, which also boasts a relatively rich dividend yield, and away from cyclically sensitive sectors like Industrials as they consider the implications of slower global economic growth following underwhelming data in recent days from both China and the US.DJ30 -29.79 NASDAQ -5.06 SP500 -4.57 NASDAQ Adv/Vol/Dec 1245/540 mln/1135 NYSE Adv/Vol/Dec 1170/205 mln/1705

11:00 am : Stocks have recovered from their recent slip, but both the Dow and S&P 500 remain unable to break back into positive territory.

Telecom and Utilities were the only two sectors that managed to limit last week's loss to less than 1%. The two sectors are also in relatively solid shape today, while the broad market chops along in lackluster fashion -- Telecom is up 0.5%, while the Utilities sector is up 0.2%. DJ30 -8.33 NASDAQ +6.30 SP500 -1.19 NASDAQ Adv/Vol/Dec 1250/430 mln/1100 NYSE Adv/Vol/Dec 1095/165 mln/1735

10:30 am : Oil prices were pushed lower this morning, such that a 2012 low was set near $81.20 per barrel in electronic trade, but they have since rebounded to trade at $83.50 per barrel for a 0.3% gain. Meanwhile, natural gas has maintained its morning gain as it trades 3.0% higher at $2.40 per MMBtu.

In contrast, precious metals prices remain in the red. Specifically, gold was last quoted with a near 0.2% loss at $1620 per ounce, while silver is off by 0.8% at $28.29 per ounce.

Overall action has the CRB Index up 0.2%, which stands as its first gain after suffering four straight losses. DJ30 -9.73 NASDAQ +5.10 SP500 -1.38 NASDAQ Adv/Vol/Dec 960/265 mln/1305 NYSE Adv/Vol/Dec 885/110 mln/1905

10:00 am : Stocks have extended their pullback so that all three major equity averages are now in the red with modest losses.

Factory orders figures for April have failed to inspire any kind of buying interest. Orders fell by 0.6% when an increase of 0.1% had been generally expected among economists polled by Briefing.com. DJ30 -30.52 NASDAQ -9.22 SP500 -4.12 NASDAQ Adv/Vol/Dec 1550/120 mln/680 NYSE Adv/Vol/Dec 1600/60 mln/1060

09:45 am : The major equity averages are pulling back after a failed attempt to trade higher at the open. That has left the Dow to trade at the neutral line, but the Nasdaq has managed to maintain a solid gain. Names like Akamai (AKAM 28.44, +0.24), Google (GOOG 574.16, +3.18), and Adobe (ADBE 30.35, +0.53) are helping to prop up the Tech-rich Nasdaq.DJ30 +2.00 NASDAQ +15.02 SP500 +1.71 NASDAQ Adv/Vol/Dec NA/NA/NA NYSE Adv/Vol/Dec NA/NA/NA

09:15 am : S&P futures vs fair value: +1.70. Nasdaq futures vs fair value: +6.30. Stock futures point to a narrowly positive open for the major equity averages. The bid comes on the back of a generally positive tone to trade in Europe and an upward push by the euro, which now sports a 0.5% gain against the greenback. Premarket participants have yet to receive any economic data, but at 10:00 AM ET the latest monthly factory orders figures will be posted. Corporat news flow is also lacking.

09:05 am : S&P futures vs fair value: +0.70. Nasdaq futures vs fair value: +4.50. Crude oil prices are currently down another 0.7% to $82.65 per barrel in early pit trade. Prices were down to about $81.20 per barrel in electronic trade for a new 2012 low earlier this morning. Natural gas prices slipped right at the open of pit trade, but are still up 3.1% to $2.40 per MMBtu. As for precious metals, gold prices are down a narrow 0.1% to $1621 per ounce after a strong rally this past Friday. Silver prices are down a sharper 0.7% to $28.32 per ounce this morning.

08:35 am : S&P futures vs fair value: -0.50. Nasdaq futures vs fair value: +2.80. The mood among traders in Europe has generally improved since the flush on Friday. However, Germany's DAX has declined to a 0.4% loss as participants there consider the implications of weaker US and Chinese economies and the possibility of euro bonds for the country. Linde AG is in the wost shape of any stock in the German bourse. Adidas and automakers Volkswagen, Daimler, and BMW are also in weak shape, as are Infineon Tech and Metro AG. Deutsche Bank (DB 34.63, +1.22), Deutsche Boerse, and Allianz have mangaged to stage enviable gains in the face of broader weakness. France's CAC has climbed to a 0.8% gain. BNP Paribas, Credit Agricole, and Societe Generale are leading the effort. Renault and SAFRAN are at the other end of the spectrum. Britain's FTSE is currently closed for holiday observance.

Action in Asia was widely weak last night. Losses largely stemmed from the disappointing data released by the US on Friday and an underwhelming dose of data from China during the weekend. The selling effort resulted in a 1.7% loss for Japan's Nikkei. Mazda Motor, Nippon Electric Glass, Oki Electric Industry, and Mitsui OSK Lines were among the poorest performers. Tokyo Electric Power, Ajinomoto Co., Kao Corp., and Asahi Group were among the few that managed to put together gains. Hong Kong's Hang Seng sank to a 2.0% loss in its latest round of action. Only five names -- Renhe Commercial Holdings, Semiconductor Manufacturing International, Zijin Mining Group, Huaneng Power International, and AVIC International -- in 50 were able to advance. Zijin Mining Group and Huaneng Power International were also among the few names on mainland China's Shanghai Composite to score a gain as the Composite dropped to a 2.7% loss. The country's latest non-manufacturing PMI reading declined to 55.2 from 56.1 in the prior month. Shandong Gold Mining was also able to score a strong gain, as was Shanghai Dingli Tech. Industrial issues, along with Banking and Securities plays, were among the hardest hit.

Note: ticker quotes reflect US premarket prices.

08:05 am : S&P futures vs fair value: +0.70. Nasdaq futures vs fair value: +5.00. Stock futures have worked their way up to a narrow lead over fair after slipping in response to a disappointing dose of data from China -- the country's latest non-manufacturing PMI reading declined from the prior month. An improved tone of trade in Europe amid heightened discourse among the region's officials has helped provide support action ahead of the open. It has also helped the euro tick up to a 0.3% gain against the greenback. News flow is currently slow and is expected to remain so this morning, given that the only item on the economic calendar is the latest in monthly factory orders figures.

06:40 am : [BRIEFING.COM] S&P futures vs fair value: -3.50. Nasdaq futures vs fair value: -2.00.

06:39 am : Nikkei...8295.63...-144.60...-1.70%. Hang Seng...18185.59...-372.80...-2.00%.

06:39 am : FTSE...Holiday......... DAX...5982.89...-67.40...-1.10%.

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 1 guest


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