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 Post subject: June 12th Tuesday 2012 Emini TF ($TF_F) points +10.50
PostPosted: Tue Jun 12, 2012 11:49 pm 
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)

Attachment:
061212-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit-1050.png
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click on the above image to view today's performance verification

Price Action Trade Performance for Today: +10.50 points or $1050 dollars in the Russell 2000 Emini TF ($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=1244.

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

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Market Summaries

The below summaries by Bloomberg, CNNMoney and Yahoo! Finance helps me to do a quick review of the fundamentals, FED/ECB/IMF actions or any important global economic events that had an impact on today's price action. Simply, I'm a strong believer that many variables (key market events) causes key changes in supply/demand and volatility that results in swing points and strong continuation price actions. Thus, I pay attention to these key market events from one trade to the next trade to give me the market context for my technical analysis. Just as important, these summaries becomes my archives to allow me to understand what was happening on any given trading day in the past...something I can not get from my broker statements alone.

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Market Update

4:30 pm : Continued concerns over problems facing countries in the Eurozone periphery couldn't stop the major US equity averages from settling at session highs with strong gains today.

During the prior session stocks rolled over to suffer sizable losses in what many pundits believed was the stock market saying that Spain's request over the weekend for $125 billion to bailout its banks is too little too late. Today, though, stocks staged an impressive advance that saw the major equity averages score strong, broad-based gains. The effort came despite a bailout request by Cyprus, which is the third smallest country in the eurozone with a population of less than 1 million people and an economy that accounts for 0.2% of eurozone GDP, but perhaps more alarmingly that Italy might need financial support and that Spain may need more than a bailout for its banks. Such concerns sent the countries' debt yields higher this morning -- in fact, the yield on Spain's 10-year Note climbed to a record high above 6.8%.

Some stepped in with a bid ahead of the open to lift equity futures, but action in the opening minutes was generally choppy. That gave way to an early slip that sent both the Nasdaq and the S&P 500 to slight losses while the Dow danced narrowly above the neutral line. Before long, though, buyers began to make their way back into the fold. Their efforts took the S&P 500 up to 1320 before resistance interrupted the move. Some selling ensued, but stocks remained resilient and were even squeezed higher into the close.

All 10 major sectors finished the session in positive territory, but the best gains were booked by Materials, Financials, and Industrials. Gains among those sectors ranged from 1.6% to 1.8%. Utilities were at the opposite end of the spectrum. They settled with a gain of only 0.2% after they had spent all morning and early afternoon in the red.

Texas Instruments (TXN 28.24, +0.59) was a strong among the better individual performers following its revised earnings forecast. Company management now expects earnings to range from $0.38 to $0.42 per share after it had previously forecasted that earnings would range from $0.36 to $0.44 per share.

Domestic data was limited to the latest monthly Treasury budget and monthly import and export price data. None was of meaningful concern to market participants, especially when Europe remains in such sharp focus.

The euro also attracted buyers in the face of the persistently precarious conditions facing the eurozone; it mustered a 0.3% gain against the greenback. Treasuries traded lower for the entire session.

The selling effort lifted the yield on the benchmark 10-year Note back above 1.65%. Results from an auction of 3-year Notes failed to inspire a positive response. The offering attracted a Bid-to-Cover of 3.53, Dollar Demand of $113.1 billion, and an Indirect Bidder participation rate of 27.0%. For comparison, the prior auction drew a Bid-to-Cover of 3.65, Dollar Demand of $116.8 billion, and an Indirect Bidder rate of 35.7%, while an average of the past six auctions results in a Bid-to-Cover of 3.52, Dollar Demand of $112.5 billion, and an Indirect Bidder rate of 35.9%.

Advancing Sectors: Materials +1.8%, Financials +1.7%, Industrials +1.6%, Energy +1.3%, Consumer Discretionary +1.2%, Tech +1.1%, Telecom +1.0%, Health Care +0.9%, Consumer Staples +0.6%, Utilities +0.2%
Declining Sectors: None DJ30 +162.57 NASDAQ +33.34 NQ100 +1.2% R2K +1.3% SP400 +1.1% SP500 +15.25 NASDAQ Adv/Vol/Dec 1727/1.58 bln/763 NYSE Adv/Vol/Dec 2360/723 mln/652

3:30 pm : Crude oil traded in positive territory for most of pit trade. It fell to a session low of $82.60 per barrel in morning action, but quickly rebounded to touch a session high of $83.79 per barrel. It continued to trade in a choppy fashion, ultimately closing with a 0.9% gain at $83.35 per barrel. Natural gas inched higher in morning floor action, trading up to a session high of $2.27 per MMBtu. However, it lost momentum in the afternoon session and fell to a session low of $2.23 per MMBtu moments before settling for a 0.9% gain at $2.24 per MMBtu.

Precious metals rallied out of negative territory moments after pit trade opened. The move came without any corresponding currency action. However, headlines suggesting that a Turkish bank might collect $1 billion in gold deposits by the end of the year was in circulation. Gold set a session high of $1618.90 per ounce before it settled with a 1.1% gain at $1613.70 per ounce. Silver saw its gains challenged as it traded down to just above the unchanged line following the early morning rally, but regained upward traction. It set a session high of $29.05 per ounce and eventually settled with a 1.2% gain at $28.94 per ounce.DJ30 +126.47 NASDAQ +23.71 SP500 +11.01 NASDAQ Adv/Vol/Dec 1640/1.18 bln/815 NYSE Adv/Vol/Dec 2240/445 mln/750

3:00 pm : With only 60 minutes remaining in trade both the Dow and the S&P 500 are narrowly beneath session highs. As for the Nasdaq, it is at an afternoon high, but not yet back at its best level of the session.

Released earlier this afternoon, the Treasury Budget for May came in at -$124.6 billion, which is on par with the -$125.0 billion that had been broadly expected. That report has mattered little to market participants, though. Rather, the market remains focused on Europe, given the ongoing troubles facing the region. DJ30 +116.52 NASDAQ +20.05 SP500 +9.42 NASDAQ Adv/Vol/Dec 1665/1.10 bln/785 NYSE Adv/Vol/Dec 2225/415 mln/770

2:30 pm : The major equity averages continue to trade near afternoon highs, but remain shy of the levels that they set in late morning trade. Financials are only narrowly below their best levels of the day, though; the sector's 1.1% gain is exceeded only by Materials and Industrials, both of which are up 1.2%.DJ30 +109.37 NASDAQ +19.92 SP500 +8.92 NASDAQ Adv/Vol/Dec 1615/1.02 bln/835 NYSE Adv/Vol/Dec 2040/380 mln/910

2:00 pm : Treasuries have fallen deeper into negative territory. The action has the benchmark 10-year Note wrestling with a loss of 20 ticks. That has resulted in a rise in the Note's yield to above 1.65%.

Meanwhile, Stocks have entered into a sideways chop that has allowed the major equity averages to maintain solid gains, but also kept them shy of session highs. DJ30 +96.76 NASDAQ +16.03 SP500 +7.43 NASDAQ Adv/Vol/Dec 1670/935 mln/760 NYSE Adv/Vol/Dec 2175/345 mln/790

1:30 pm : Treasuries remain under pressure following an auction of 3-year Notes. The offering attracted a Bid-to-Cover of 3.53, Dollar Demand of $113.1 billion, and an Indirect Bidder participation rate of 27.0%. For comparison, the prior auction drew a Bid-to-Cover of 3.65, Dollar Demand of $116.8 billion, and an Indirect Bidder rate of 35.7%, while an average of the past six auctions results in a Bid-to-Cover of 3.52, Dollar Demand of $112.5 billion, and an Indirect Bidder rate of 35.9%.DJ30 +100.36 NASDAQ +17.28 SP500 +8.10

1:00 pm : Stocks rallied up to strong gains after a choppy start, but they have spent the past 90 minutes drifting off of that perch.

The major equity averages mustered modest gains this morning, despite a rise in the debt yields of countries in the eurozone periphery, where persistently precarious conditions continue to cause concerns. Amid such concerns the euro has done a decent job of remaining out of the red; it is currently up just 0.1% against the greenback. Perhaps more impressive is the 0.6% gain by the sterling pound following some underwhelming data from the United Kingdom.

Domestic data has been limited to an inconsequential import and export price report. Due at 2:00 PM ET is the latest monthly Treasury Budget.

Treasuries have been under pressure since the open. That has the yield on the benchmark 10-year Note back above 1.60% by a few basis points. Results from an auction of 3-year Notes are due at any moment.

Stocks are off of session highs, which were set when the S&P 500 pushed up to 1320. Its inability to push past that point has been followed by a gradual descent.

Energy stocks were up well in excess of 1% when at their best level of the day. The sector has since pulled back to trade with a 1.0% gain. Meanwhile, crude oil futures prices are currently up 0.6% to $83.20 per barrel. In overnight trade they were down below $81.40 per barrel.

Utilities make up the only major sector that has failed to trade higher. The sector is currently off by 0.1%. DJ30 +83.71 NASDAQ +12.60 SP500 +5.83 NASDAQ Adv/Vol/Dec 1540/770 mln/840 NYSE Adv/Vol/Dec 1950/295 mln/975

12:30 pm : Stocks have been chopping their way down from session highs, but overall gains remain strong.

Shares of Texas Instruments (TXN 28.33, +0.68) remain near their best levels of the day, sporting a 2.5% gain. The stock's strength comes after company management narrowed its earnings forecast so that it ranges from $0.38 to $0.42 per share. It had previously forecasted earnings of $0.36 to $0.44 per share. DJ30 +95.55 NASDAQ +17.10 SP500 +7.33 NASDAQ Adv/Vol/Dec 1480/715 mln/890 NYSE Adv/Vol/Dec 1860/265 mln/1035

12:00 pm : The S&P 500 recently came in contact with the 1320 line, but it was unable to extend its push past that point. Resistance there has been followed some selling pressure.

Although still up 0.8% for the day, the Energy sector has surrendered almost half of the gain that it sported while at its session high. The sector's pullback has left it trading in line with Materials, Industrials, and Tech, each of which is also up 0.9%. DJ30 +105.20 NASDAQ +23.65 SP500 +9.30 NASDAQ Adv/Vol/Dec 1595/625 mln/745 NYSE Adv/Vol/Dec 2100/240 mln/775

11:30 am : Stocks have turned their rebound into a rally -- all three major equity averages are now at session highs with gains of close to 1%.

Energy stocks continue to attract the strongest buying interest. The sector's 1.5% gain comes as shares of oil and gas equipment and services players rally alongside shares of oil and gas refining and marketing issues. Valero (VLO 22.97, +1.12), up some 5%, is among the best performers in the space. Few players in the Energy space are sitting out of the rally; Kinder Morgan (KMI 31.44, +0.00) and Consol Energy (CNX 27.20, -0.07) are among the poorest performers and they're only flat or down fractionally. DJ30 +120.19 NASDAQ +26.26 SP500 +11.68 NASDAQ Adv/Vol/Dec 1310/460 mln/970 NYSE Adv/Vol/Dec 1705/190 mln/1100

11:00 am : The stock market has rebounded from a recent slip into the red for a solid gain. The move has been broad based, but Utilities stocks are sitting out. Instead of following the rest of the market higher, the sector has actually descended to a new session low, where it trades with a 0.7% loss.DJ30 +62.25 NASDAQ +11.98 SP500 +4.35 NASDAQ Adv/Vol/Dec 1165/395 mln/1070 NYSE Adv/Vol/Dec 1610/160 mln/1185

10:30 am : Stocks have come under pressure in recent trade. Although many key commodities have managed to remain in positive territory, the CRB Index is down to a narrow loss of only 0.1%.

Crude oil prices were as high as $83.50 per barrel this morning, but were most recently quoted at $82.85 per barrel, which makes for a 0.2% gain. In electronic trade the energy component was below $81.40 per barrel for an overnight low.

Natural gas has done a better job of maintaining its gain. The energy component was last quoted with a 1.0% gain at $2.24 per MMBtu, which is just a couple of cents shy of its session high. Natural gas prices were below $2.18 per MMBtu in overnight action.

Precious metals prices pushed higher shortly before the stock market's open. Gold recently notched a session high above $1611 per ounce, but has since eased back to $1610 per ounce, which makes for a 0.8% gain. As for silver, it is sporting a 0.6% gain at $28.78 per ounce. Silver prices were up to $28.95 per ounce earlier this morning. DJ30 +24.68 NASDAQ +0.99 SP500 +0.64 NASDAQ Adv/Vol/Dec 1260/235 mln/875 NYSE Adv/Vol/Dec 1755/112 mln/975

10:00 am : Financials have extended their recent bounce so that the sector now sports a 0.5% gain, which ties the group with Tech. With a 1.0% gain, Energy stocks remain out in front of the rest of the market, but Industrials and Materials are close behind. The latter two sectors are up 0.8% and 0.9%, respectively. Telecom and Utilities, both defensive in nature, continue to lag with losses of 0.2% and 0.3%, respectively.DJ30 +44.43 NASDAQ +10.62 SP500 +3.83 NASDAQ Adv/Vol/Dec 1470/70 mln/550 NYSE Adv/Vol/Dec 2000/50 mln/635

09:45 am : Stocks slipped from their opening highs, but the major equity averages remain in positive territory. Early action is rather choppy.

Financials were quick to fall into the red, but they have since stabilized and are now trying to push back up to the neutral line. Meanwhile, Energy stocks have run ahead to a 1.0% gain. The sector's strength comes even though oil prices are up just 0.3% to $83.00 per barrel after a pronounced drop in the prior session. DJ30 +33.76 NASDAQ +11.60 SP500 +4.11 NASDAQ Adv/Vol/Dec NA/NA/NA NYSE Adv/Vol/Dec NA/NA/NA

09:15 am : S&P futures vs fair value: +5.90. Nasdaq futures vs fair value: +16.00. Stock futures have been pushing higher with the approach of the open. Meanwhile, the dollar has turned downward so that it now trails a collection of competing currencies by about 0.2%. Relative to the greenback, the euro and sterling pound are up 0.3% and 0.5%, respectively, despite ongoing concerns about eurozone headwinds manifested in higher sovereign debt yields, and underwhelming data from the United Kingdom. Domestic data has been limited to the latest monthly import and export prices, which were given little regard by premarket participants. The only other item on the economic calendar for today is the latest monthly Treasury Budget, which is due at 2:00 PM ET. At 1:00 PM ET market participants get their hands on results from an auction of 3-year Notes.

09:05 am : S&P futures vs fair value: +6.00. Nasdaq futures vs fair value: +15.70. Crude oil prices are up 0.3% to $82.95 per barrel in early pit trade. Buying interest comes after prices were well below $82 per barrel in electronic trade during the early hours of this morning. Natural gas prices have moved up to $2.23 per MMBtu for a 0.5% gain. They were down to less than $2.18 per MMBtu before the open of pit trade. Precious metals are pushing higher in recent trade, positioning gold at $1604 per ounce, which makes for a 0.5% gain. prices were at about $1590 per ounce just a few minutes ago. Meanwhile, silver is sporting a 0.8% gain at $28.84 per ounce. In the backdrop, the dollar has moved lower so that it now trails a collection of major foreign currencies by about 0.1%.

08:35 am : S&P futures vs fair value: +2.80. Nasdaq futures vs fair value: +9.50. Stock futures have worked their way higher in recent trade, but little attention has been given to the latest import and export price data. Excluding agricultural items, export prices declined during May by 0.5% after they had increased by 0.2% in the prior month. Excluding oil, import prices were down during May by 0.1%, which contrasts with the 0.2% increase experienced in the prior month.

08:05 am : S&P futures vs fair value: +1.50. Nasdaq futures vs fair value: +5.70. Stock futures are up modestly this morning, similar to the bid that has helped support Europe's bourses in the face of underwhelming data from the United Kingdom, and higher debt yields for countries in the eurozone periphery. Corporate news generally remains light, but Texas Instruments (TXN 27.72, +0.07) has attracted attention following its decision to narrow its earnings outlook. Note: ticker quotes reflect premarket prices. Treasuries have experienced some modest selling pressure this morning. That has lifted the yield on the benchmark 10-year Note narrowly above 1.60%. Results from an auction of 3-year Notes will be released at 2:00 PM ET today. On the economic calendar, monthly import and export price data are due at the bottom of the hour. The latest monthly Treasury Budget will be released at 2:00 PM ET.

06:15 am : [BRIEFING.COM] S&P futures vs fair value: +6.00. Nasdaq futures vs fair value: +15.00.

06:15 am : Nikkei...8536.72...-88.20...-1.00%. Hang Seng...18872.56...-16.10...-0.40%.

06:15 am : FTSE...5453.72...+21.40...+0.40%. DAX...6178.14...+37.10...+0.60%.

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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