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 1:25 pm

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: June 11th Monday 2012 Emini TF ($TF_F) points +18.00
PostPosted: Tue Jun 12, 2012 5:31 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:
061112-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit-1800.png
061112-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit-1800.png [ 75.74 KiB | Viewed 304 times ]

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

Price Action Trade Performance for Today: +18.00 points or $1800 dollars in the Russell 2000 Emini TF ($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=1243.

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 Sink More Than 1% As Spain Enthusiasm Fizzles

Attachment:
061112-Key-Price-Action-Markets.png
061112-Key-Price-Action-Markets.png [ 610.86 KiB | Viewed 294 times ]

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

NEW YORK (CNNMoney) -- U.S. stocks had a promising start Monday, following the best week of the year, but gains were short-lived as early enthusiasm over a $125 billion bailout for Spanish banks fizzled, sending stocks tumbling into the red.

The Dow Jones industrial average (INDU) declined 143 points, or 1.1%, the S&P 500 (SPX) fell 17 points, or 1.3%, and the Nasdaq (COMP) lost 49 points, or 1.7%. All three indexes were up between 0.7% and 0.8% earlier in the day.

Bank stocks were among the biggest losers, with Bank of America (BAC, Fortune 500) leading the Dow's drop. Citigroup (C, Fortune 500), Morgan Stanley (MS, Fortune 500), JPMorgan Chase (JPM, Fortune 500) and Goldman Sachs (GS, Fortune 500) also finished lower.

Over the weekend, members of the eurozone signaled that they may help recapitalize Spain's banking system after the country asked for €100 billion ($125 billion) from the group of nations.

While investors consider "the rescue of Spain as a rescue for the financial markets," they are still facing many unanswered questions, said Kathy Lien, director for currency research at Global Forex Trading.

* Euro crisis: It's still not over

"Spain has now officially become the largest eurozone economy to request a bailout, but details will not be released until the end of the month," she said. "Where the aid comes from ... will determine which bond holders rank higher and who will absorb the most losses."

Spanish bond yields initially eased to around 6% but moved above 6.5% as investors grew anxious. Italian bond yields rose above 6% from 5.8% last week.

* No goal for Europe: Investors still afraid

"The Spanish bailout is a move in the right direction, but the European sovereign debt crisis is far from over," said Lien.

Investors are also cautious as they prepare for elections in Greece on Sunday. The concern is that anti-austerity political parties will win enough seats in parliament to derail the bailout program Greece secured earlier this year. The runoff is being viewed as a pivotal moment that could determine if Greece remains a member of the euro currency union or not.

* Fear & Greed Index

U.S. stocks rose Friday, capping the best week of the year, amid speculation that Spain would request a bailout for its troubled banking sector over the weekend.

* Video - How Spain Got Into This Mess

Companies: Shares of technology bellwether Apple (AAPL, Fortune 500) fell after the company's annual developers conference.

Battered shares of Facebook (FB), which started to recoup recent losses with a 3% gain in trading Friday, ended in the red yet again Monday. The social media giant is among the 197 companies, including 39 IPOs, slated to join the Russell 3000 index later this month.

JPMorgan Chase (JPM, Fortune 500) finished down. The bank's CEO, Jamie Dimon, will appear in front of the Senate Banking Committee Wednesday to answer questions about the company's $2 billion loss.

* Is worst over for JPMorgan?

World markets: European stocks closed mixed following an early rally. Britain's FTSE 100 (UKX) slipped 0.1%, the DAX (DAX) in Germany gained 0.2% and France's CAC 40 (CAC40) dropped 0.3%.

Asian markets ended higher after Chinese economic reports came in better than expected. The Shanghai Composite (SHCOMP) closed 1.1% higher. The Hang Seng (HSI) in Hong Kong shot up 2.4%, and Japan's Nikkei (N225) was up nearly 2%.

China reported record exports of $181.1 billion and imports of $162.4 billion, which gave it a bigger-than-expected trade surplus and helped to ease concern about a so-called hard landing caused by a rapid slowdown in its economy.

A separate report showed inflation in China slowed in May, which kept the door open for more stimulus from the government there to deal with any possible slowdown.

Last week, China's central bank announced a surprise interest rate cut, which briefly lifted stocks.

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

Oil for July delivery slipped $1.40 to settle at $82.70 a barrel, the lowest since October 2011.

Gold futures for June delivery gained $5.40 to settle at $1,596.80 an ounce.

Bonds: The price on the benchmark 10-year U.S. Treasury edged slightly higher, pushing the yield down to 1.60% from 1.64% late Friday.

Image

Market Update

4:30 pm : Spain’s first step toward shoring up its banking system brought about a bid that gave the major equity averages a positive open, but support waned steadily throughout the session, leaving stocks to settle at session lows with sizable losses.

Market participants initially applauded news that Spain has requested $125 billion for its banks since that would help provide confidence and security to the rest of Europe’s banking system, in which domestic financial outfits are heavily invested. However, any form of euphoria that remained by the time US markets opened dithered away throughout the trading day as focus returned to the persistently precarious conditions facing the rest of Europe.

Strength in the euro also faded. It was up modestly in morning action, but by the afternoon it was trailing the dollar. Unable to recover, the euro fell about 0.3% against the greenback.

While selling was broad, Financials, Tech, and Materials were hit the hardest. Each sector slid to a loss of almost 2%. Spanish banking outfit Banco Santander (STD 5.92, -0.19) slumped – the firm had its rating cut by analysts at Fitch. Meanwhile, Apple (AAPL 571.17, -9.15) also reversed into the red to cause a heavy drag. The company’s latest developers conference failed to inspire sustainable gains in the stock.

Telecom scored the only gain of the session. The sector was up about 1% at its session high, but settled only narrowly above the neutral line. Telecom stocks outperformed during the month of May, but were relatively quiet last week. AT&T (T 34.59, +0.04) was a source of strength as it traded up to $35 per share for the first time since 2008 before being imbued by broad market weakness.

A few key commodities were also caught up in the selling effort. Crude oil prices were up in early pit trade, but settled with a 1.8% loss at $82.59 per barrel, just above its session low of $82.51 per barrel. Selling even extended into electronic trade so that prices were below $82 per barrel after the close of pit trade. However, gold prices were able to recover from an early retreat into the red to push its way back above the breakeven line. Gold managed to settle 0.3% higher at $1596.70 per ounce.

Advancing Sectors: Telecom +0.1%
Declining Sectors: Utilities -0.2%, Consumer Staples -0.4%, Health Care -0.9%, Industrials -1.2%, Energy -1.2%, Consumer Discretionary -1.6%, Tech -1.7%, Materials -1.8%, Financials -1.9%DJ30 -142.97 NASDAQ -48.69 NQ100 -1.6% R2K -2.4% SP400 -2.0% SP500 -16.73 NASDAQ Adv/Vol/Dec 566/1.47 bln/1931 NYSE Adv/Vol/Dec 617/740 mln/2411

3:30 pm : Crude oil gave up its overnight gains as it fell off its floor session high of $84.65 per barrel and traded into the red. After trading in a consolidative manner in midday action, the energy component sold-off into the close. Crude settled 1.8% lower at $82.59 per barrel, just above its session low of $82.51 per barrel. Its weakness has continued after the close of pit trade. Natural gas extended its electronic trade losses as it tumbled to a pit session low of $2.20 per MMBtu. It traded up slightly in the last leg of pit trade, but ultimately settled with a 3.5% loss at $2.22 per MMBtu.

Precious metals were under pressure in early morning pit trade as they sold-off into negative territory. Gold slid to a session low of $1582.70 per ounce and silver fell to a session low of $28.25 per ounce. Despite the early weakness, both metals found buying support in afternoon action and were able to push their way back above the breakeven line. Gold managed to settle 0.3% higher at $1596.70 per ounce, and silver finished with a 0.4% gain at $28.60 per ounce.DJ30 -86.11 NASDAQ -38.15 SP500 -10.97 NASDAQ Adv/Vol/Dec 765/1.07 bln/1710 NYSE Adv/Vol/Dec 870/450 mln/2120

3:00 pm : The Nasdaq continues to descend deeper into negative territory. Its loss now stands at almost 1%. The Nasdaq's outsized loss stems from pronounced weakness among Tech stocks, which are now collectively off by 0.9%. That's almost as bad as Financials, which have fallen little more than 1% as a group.DJ30 -61.53 NASDAQ -26.15 SP500 -7.37 NASDAQ Adv/Vol/Dec 805/985 mln/1670 NYSE Adv/Vol/Dec 955/415 mln/2035

2:30 pm : The major equity averages have moved down to new session lows. Overall losses remain only modest, though.

The stock market's latest leg down has led Treasuries to tick higher, such that the yield on the benchmark 10-year Note is now narrowly below 1.60%.

The euro remains unchanged from recent levels. That is to say that it is down about 0.2% against the greenback.

Oil prices have dropped in the final minutes of pit trade. The commodity is expected to settle around $82.60 per barrel, which would make for a loss of about 1.8%. DJ30 -54.80 NASDAQ -17.32 SP500 -5.73

2:00 pm : The Nasdaq recently slipped to a new afternoon low as shares of heavyweight Tech plays encounter selling pressure. The action recently put Apple (AAPL 582.11, +1.79) in touch with the flat line after it had been up with a solid gain for the entire morning and early afternoon. The consumer electronics and computer maker unveiled a new MacBook lineup at its developers conference.DJ30 -37.29 NASDAQ -15.78 SP500 -4.26 NASDAQ Adv/Vol/Dec 990/815 mln/1460 NYSE Adv/Vol/Dec 1180/345 mln/1775

1:30 pm : Both the Dow and the S&P 500 recently pushed up to the neutral line, but neither was able to poke into positive territory. The resistance has left the broad market mired narrowly beneath the neutral line.DJ30 -17.29 NASDAQ -10.91 SP500 -2.55 NASDAQ Adv/Vol/Dec 990/735 mln/1450 NYSE Adv/Vol/Dec 1210/315 mln/1725

1:00 pm : A positive response to news that Spain is looking for funds to shore up its banking system fueled an early bid, but stocks have since drifted into the red for modest losses.

Stocks spent the first couple of hours sliding steadily off of their opening perch as market participants returned their focus to the persistently precarious conditions facing the rest of Europe. The $125 billion requested by Spain is expected to help the country's banks and by extension other European banks, in which US banks and financial services providers are heavily invested, but there remain concerns about the fiscal, financial, and economic headwinds in other corners of the continent.

The euro was up modestly this morning, but it has also pulled back. The currency was last quoted with a 0.2% gain against the greenback.

With Financials under scrutiny, the sector has fallen to a 0.7% loss, which makes it the worst performing sector of the session. Spanish outfit Banco Santander (STD 6.00, -0.11) is down markedly after a positive open; the stock had its rating cut by analysts at Fitch.

Telecom has put on an impressive display in the face of lackluster broad market action. The defensive-oriented sector’s 0.9% advance today comes after a quiet week in which it lagged the S&P 500. DJ30 -17.33 NASDAQ -8.95 SP500 -1.50 NASDAQ Adv/Vol/Dec 920/680 mln/1525 NYSE Adv/Vol/Dec 1095/290 mln/1835

12:30 pm : Although the broad market remains mired in negative territory with a modest loss, the Telecom sector has pushed up to a new session high so that it now sports a 0.9% gain. Among Telecom plays, AT&T (T 34.91, +0.36) is a standout as the stock trades up to its best level in about four years. There is no clear catalyst to account for the stock's strength this session, but it comes after Telecom took a bit of a breather last week after it had outperformed during the month of May.DJ30 -39.51 NASDAQ -10.97 SP500 -3.60 NASDAQ Adv/Vol/Dec 930/615 mln/1505 NYSE Adv/Vol/Dec 1110/270 mln/1805

12:00 pm : Shares of Financial stocks are in the worst shape of any major sector. Their 0.6% collective loss comes as bank stocks and shares of diversified financial services players succumb to selling pressure.

Although news that Spain has requested money to shore up its banking system has been regarded as a positive development for the country's banks and by extension the broader system of Europe, in which US banks are heavily invested, there are still concerns about the precarious conditions -- fiscal, financial, and economic -- that exist in other corners of Europe. DJ30 -28.87 NASDAQ -7.24 SP500 -2.01 NASDAQ Adv/Vol/Dec 1000/515 mln/1390 NYSE Adv/Vol/Dec 1150/230 mln/1725

11:30 am : The major equity averages remain in the red with modest losses. Selling has dragged down every major sector, but Utilities and Telecom are the only two that have managed to hold their ground in positive territory. The two defensive-oriented sectors are up 0.2% and 0.5%, respectively.DJ30 -47.30 NASDAQ -8.01 SP500 -4.43 NASDAQ Adv/Vol/Dec 965/435 mln/1415 NYSE Adv/Vol/Dec 1110/200 mln/1730

11:00 am : Stocks had appeared to secure support upon reaching the flat line, but sellers have since redoubled their efforts. That has led the major equity averages into negative territory. Overall losses are only modest, however.

The euro has also retreated into the red. It had held steady to a gain of about 0.2%-0.3% against the greenback for most of the morning, but is now down about 0.1% against the dollar.

Europe's major bourses have also turned lower in recent trade. The paring of gains there comes with the approach of the session's close. DJ30 -35.91 NASDAQ -9.99 SP500 -3.49 NASDAQ Adv/Vol/Dec 1095/360 mln/1290 NYSE Adv/Vol/Dec 1330/165 mln/1475

10:30 am : A downturn among commodity prices has dropped the CRB Index for a 0.3% loss after it was up solidly earlier this morning.

Crude oil prices were up about 1% in early pit trade, but the energy component has reversed into the red to trade with a 0.8% loss at $83.45 per barrel. Natural gas prices remain under pressure at $2.25 per MMBtu, which makes for a 1.9% loss.

Gold and silver prices were up with relatively solid gains earlier this morning, but both now trade with losses. Gold was last quoted at $1589 per ounce, which makes for a 0.2% loss. Silver is down 0.2% to $28.40 per ounce. DJ30 -22.89 NASDAQ -6.44 SP500 -1.48 NASDAQ Adv/Vol/Dec 1120/245 mln/1190 NYSE Adv/Vol/Dec 1400/125 mln/1350

10:00 am : The Nasdaq recently came in contact with the neutral line while S&P 500 saw all but an incremental portion of its opening gain erased. However, downside action has since moderated so that the major equity averages have managed to remain out of the red.

The euro continues to trade steadily with a narrow gain against the greenback; it is currently up by less than 0.3% to about $1.254. DJ30 +28.87 NASDAQ +2.29 SP500 +2.60 NASDAQ Adv/Vol/Dec 1535/90 mln/685 NYSE Adv/Vol/Dec 1955/65 mln/710

09:45 am : A slide off of the stock market's opening perch has moderated gains. The downward push comes amid fading euphoria from Spain's formal request for funds to shore up its banking system.

The Financial sector is now flat. Bank stocks, as measured by the KBW Bank Index, are down fractionally. In contrast, Utilities and Telecom are holding up solidly, each with a gain of 0.6%. DJ30 +47.72 NASDAQ +5.42 SP500 +3.94 NASDAQ Adv/Vol/Dec NA/NA/NA NYSE Adv/Vol/Dec NA/NA/NA

09:15 am : S&P futures vs fair value: +9.90. Nasdaq futures vs fair value: +17.50. Stock futures point to a positive open. Sentiment has been strengthened in response to Spain's request for a bailout of its banks, which have been in precarious shape for some time and a sore point for the broader eurozone. Although the buying that followed the announcement has cooled, a positive tone persists, such that Europe's major bourses continue to sport solid gains and the euro is up 0.3% against the greenback. The bailout request has been a focal point for financial media since economic data released by China during the weekend was generally unsurprising, there is no corporate news of consequence, and the domestic economic calendar is empty.

09:05 am : S&P futures vs fair value: +10.00. Nasdaq futures vs fair value: +18.00. Generally positive action among commodities has the CRB Index up 0.5% this morning. Crude oil prices are up 1.1% to $85.05 per barrel in early pit trade. However, prices had been comfortably above $86 per barrel in overnight action. Natural gas prices are now down 1.9% to $2.25 per MMBtu. Price action for the commodity has been choppy for the past few hours. As for precious metals, gold prices are presently up 0.3% to $1596.00 per ounce, which is just a couple of dollars shy of its morning high. At $28.66 per ounce, silver is sitting just shy of its session high with a a 0.7% gain.

08:35 am : S&P futures vs fair value: +10.00. Nasdaq futures vs fair value: +18.30. A $125 billion bank bailout request by Spain has been met with a positive response because the installment of fresh capital is expected to bring stability to the country's precarious banking system. Although the initial buying frenzy has faded, Spain's IBEX is still up 1.5%. Shares of Banco Santander (STD 6.29, +0.18) also remain in strong shape. Germany's DAX is currently up 1.6%. Volkswagen, Infineon Tech, and SAP stand as the bourse's top three performers by percent gained. ThyssenKrupp, Deutsche Lufthansa, and Beiersdorf are the only three names in the bourse that are currently in the red. Britain's FTSE is up by a relatively tame 0.5%. Lloyds Group (LYG 1.79, +0.06), BP Plc (BP 38.97, +0.87), and Barclays (BCS 12.19, +0.26) are among the best performers, while Man Group, TESCO Plc, and Vodafone (VOD 26.58, +0.00) are at the opposite end of the spectrum. France's CAC is currently up 1.1%. AXA, Credit Agricole, and Societe Generale are among its strongest performers.

Overnight action in Asia was helped by news that Spain is looking for funds to shore up its banking system. Japan's Nikkei scored a 2.0% gain amid broad-based buying. Sharp Corp was one of the strongest performers. Kawasaki Kisen Kaisha, Mitsui OSK Lines, and Panasonic Corp also posted impressive gains on strong volume. Olympus Corp, Nippon Suisan Kaisha, and Tobu Railway sat out of the rally. Hong Kong's Hang Seng scored a 2.4% gain. China Shipping Container scored one of the strongest gains on healthy volume. Financials also advanced, but their gains were generally less impressive. Boshiwa International Holding was among the worst performers; it was also the most actively traded name of the session. Chaoda Modern Agriculture and Mongolia Energy were also clipped for large losses. Mainland China's Shanghai Composite closed with a 1.1% gain. China United Network Communications was a strong performer, as was Gemdale. China Minsheng Banking and Agricultural Bank of China both faltered. As an aside, data released by the country during the weekend showed a slowdown in monthly retail sales and consumer prices.

Note: ticker quotes reflect US premarket prices.

08:05 am : S&P futures vs fair value: +9.00. Nasdaq futures vs fair value: +16.30. Stock futures continue to lead fair value, but the margin has narrowed from the overnight highs that were brought about by a barrage of buying that came in response to Spain's request for a bank bailout. Europe's major bourses continue to boast impressive gains, though. As for the euro, it is up a modest 0.2% against the greenback. Data from China released during the weekend showed moderated monthly CPI and retail sales numbers. Markets in Asia performed very well overnight. There is no domestic economic data on tap for play today. There are no corporate reports of consequence out either.

06:30 am : [BRIEFING.COM] S&P futures vs fair value: +12.00. Nasdaq futures vs fair value: +21.50.

06:30 am : Nikkei...8624.90...+165.60...+2.00%. Hang Seng...18953.63...+451.30...+2.40%.

06:30 am : FTSE...5486.85...+51.80...+1.00%. DAX...6247.80...+117.10...+1.90%.

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