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 Post subject: June 13th Wednesday 2012 Emini TF ($TF_F) points +20.70
PostPosted: Thu Jun 14, 2012 12:19 am 
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)

Attachment:
061312-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit-2070.png
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click on the above image to view today's performance verification

Price Action Trade Performance for Today: +20.70 points or $2070 dollars in the Russell 2000 Emini TF ($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=1245.

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

4:25 pm : For the second time this week stocks rolled over in afternoon trade to suffer sizable losses.

Market participants displayed caution ahead of the open as Europe’s bourses traded lower and domestic retail sales disappointed. Retail sales declined during May by 0.2%, which is greater than the 0.1% decline that had been broadly expected. Excluding autos, retail sales declined by 0.4%, which contrasts with a Briefing.com consensus that called for no change. Prior month numbers were revised downward so that overall retail sales declined by 0.2% and sales less autos declined by 0.3%.

Producer price data proved less influential. Overall producer prices declined during May by 1.0%, which is steeper than the 0.7% decline that had been widely forecasted, but core producer prices experienced an in-line increase of 0.2%.

Although stocks were able to work through some modest selling pressure in morning trade, they struggled to extend the move. Financials eventually offered leadership, but the broad market remained reluctant to follow. The path of least resistance proved to be downward amid such broad market anemia. The major averages managed to make a modest bounce in the final minutes of trade, but broad losses were still booked.

Materials stocks and Consumer Discretionary stocks suffered the most. Both sectors sank to a 1.5% loss. The former was hurt primarily by diversified chemicals players, while the latter was undermined by weakness among retailers – SPDR S&P Retail ETF (XRT 56.46, -1.60).

Financials, which had mustered a solid gain with help from JPMorgan Chase (JPM 34.30, +0.53), finished the day with a 0.5% loss. In a testimony before the Senate Banking Committee, JPMorgan Chase CEO Jamie Dimon stated that he expects the bank to be solidly profitable in the current quarter, and that progress has already been made in reducing risk following the firm’s massive trading loss that received so much attention several weeks ago.

There weren’t any encouraging headlines regarding efforts to shore up conditions in the eurozone, but the euro staged a strong advance against the greenback. By session’s end the euro was up 0.5% to $1.257.

Treasuries attracted buying interest amid the stock market's slide, such that the yield on the benchmark 10-year Note returned to almost 1.60%. Also in play were results from an auction of 10-year Notes. The offering attracted a Bid-to-Cover of 3.06, Dollar Demand of $64.2 billion, and an Indirect Bidder rate of 42.0%. For comparison, the prior auction attracted a Bid-to-Cover of 2.90, Dollar Demand of $69.6 billion, and an Indirect Bidder participation rate of 38.7%, while an average of the last six auctions results in a Bid-to-Cover of 3.18, Dollar Demand of $69.8 billion, and an Indirect Bidder rate of 42.4%.

Advancing Sectors: Telecom +0.1%
Declining Sectors: Utilities -0.1%, Health Care -0.1%, Consumer Staples -0.3%, Financials -0.5%, Tech -0.7%, Industrials -1.0%, Energy -1.1%, Consumer Discretionary -1.5%, Materials -1.5%DJ30 -77.42 NASDAQ -24.46 NQ100 -0.7% R2K -1.3% SP400 -1.4% SP500 -9.30 NASDAQ Adv/Vol/Dec 747/1.59 bln/1727 NYSE Adv/Vol/Dec 954/683 mln/2072

3:30 pm : Crude oil came off its morning low of $82.15 per barrel to push into positive territory, extending its climb to a session high of $84.02 per barrel shortly after weekly inventory data showed that gasoline inventories had a draw of 1.72 million barrels when a build of 1.40 million barrels had been anticipated. Weekly crude oil inventories experienced a smaller-than-expected draw of 191,000 barrels. The energy component failed to sustain its gain and fell back into the red, settling with a 0.9% loss at $82.56 per barrel.

Natural gas chopped around in negative territory for its entire floor session. It set a session high of $2.23 per MMBtu, but fell lower as it headed into the close. It settled at its session low of $2.18 ber MMBtu with a 2.7% loss.

Gold popped into positive territory ahead of pit trade open. It traded up to a session high of $1626.00 per ounce, but fell back to the unchanged mark. Despite the dip, the yellow metal was able to reclaim gains in afternoon action and settle the pit session 0.4% higher at $1619.90 per ounce. Silver rallied to a session high of $29.09 per ounce in early morning action, but later fell into negative territory to a session low of $28.77 per ounce. It spent the afternoon session attempting to rebound, ultimately settling at $28.93 per ounce, just a penny below the break-even line. DJ30 -113.83 NASDAQ -29.4 SP500 -12.31 NASDAQ Adv/Vol/Dec 835/1.20 bln/1595 NYSE Adv/Vol/Dec 1070/435 mln/1940

3:00 pm : Stocks have extended their recent slide so that the major equity averages are now at new afternoon lows. Still, overall losses remain modest as action enters its final hour of the session.

The broad market's recent downturn has weighed on shares of Target Corp (TGT 58.17, +0.01), which are now at the flat line. The company announced earlier today that it has increased its regular quarterly dividend by 20%. DJ30 -60.92 NASDAQ -14.55 SP500 -6.23 NASDAQ Adv/Vol/Dec 1035/1.06 bln/1370 NYSE Adv/Vol/Dec 1345/385 mln/1650

2:30 pm : The stock market's recent leg lower has left stocks with only modest losses. The downward pressure has clipped Financials, which are now up just 0.2%. Efforts by the sector to offer leadership have been offset by weakness among other heavily weighted sectors like Tech and Energy, which are down 0.3% and 0.5%, respectively.DJ30 -26.07 NASDAQ -6.78 SP500 -2.77 NASDAQ Adv/Vol/Dec 1070/995 mln/1320 NYSE Adv/Vol/Dec 1370/360 mln/1625

2:00 pm : Stocks have slipped back into the red. Although losses are only narrow, the action has helped take Treasuries to new session highs.

Meanwhile, the euro continues to sport an impressive gain against the greenback; it is now up more than 0.7%. In contrast, the sterling pound is unchanged after a strong performance in the prior session. DJ30 -19.11 NASDAQ -5.14 SP500 -2.05 NASDAQ Adv/Vol/Dec 1305/895 mln/1060 NYSE Adv/Vol/Dec 1635/325 mln/1320

1:30 pm : Results from an auction of 10-year Notes featured a Bid-to-Cover of 3.06, Dollar Demand of $64.2 billion, and an Indirect Bidder rate of 42.0%. For comparison, the prior auction attracted a Bid-to-Cover of 2.90, Dollar Demand of $69.6 billion, and an Indirect Bidder participation rate of 38.7%, while an average of the last six auctions results in a Bid-to-Cover of 3.18, Dollar Demand of $69.8 billion, and an Indirect Bidder rate of 42.4%. The 10-year Note has ticked higher in the wake of the offering, taking its yield down to about 1.62% for a session low.DJ30 +12.72 NASDAQ +5.74 SP500 +2.15 NASDAQ Adv/Vol/Dec 1305/820 mln/1045 NYSE Adv/Vol/Dec 1585/300 mln/1360

1:00 pm : The major equity averages are narrowly positive at the moment. Financials have emerged as leaders, but the broader market remains reluctant to follow.

Stocks slid to sizable losses in the early going as market participants responded to the general listlessness among stocks this morning and some disappointing data. Retail sales declined during May by 0.2%, while sales less autos declined by 0.4%. Both declines were greater than what had been widely expected. What’s more, prior month numbers were revised downward to reflect declines. As for overall producer prices, they declined during May by 1.0%, while core producer prices increased 0.2%. The decline in overall prices was steeper than generally expected, but the increase in core prices was on par with the consensus.

Despite limited leadership, stocks were able to work their way out of the red, but have had difficulty turning the move into a meaningful gain. That said, the Financial sector has pushed up to a 0.6% gain with help from JPMorgan Chase (JPM 34.86, +1.09). The stock’s strength comes after company CEO Jamie Dimon testified before the Senate Banking Committee that he expects the bank to be solidly profitable in the current quarter, and that progress has already been made in reducing risk following the firm’s massive trading loss that received so much attention several weeks ago.

The euro has had a strong session, despite a lack of positive developments from the eurozone. The currency is currently up 0.7% against the greenback. DJ30 +4.39 NASDAQ +4.21 SP500 +1.08 NASDAQ Adv/Vol/Dec 1330/760 mln/1000 NYSE Adv/Vol/Dec 1635/275 mln/1300

12:30 pm : The major equity averages are working their way back toward the flat line with help from Financials. Financials have pushed up to a 0.4% gain, which puts the sector back in line with its mid-morning high. Diversified financial services stocks are leading the sector with JPMorgan Chase (JPM 34.93, +1.16) out in front. JPMorgan Chase CEO Jamie Dimon recently wrapped up its testimony with the Senate Banking Committee.DJ30 -9.25 NASDAQ -0.56 SP500 -0.35 NASDAQ Adv/Vol/Dec 1065/680 mln/1250 NYSE Adv/Vol/Dec 1280/245 mln/1640

12:00 pm : The major equity averages have slipped back into the red after mustering modest gains. The downturn is mostly the consequence of a lack of leadership among stocks. After all, only the Health Care, Telecom, and Consumer Staples sectors -- all defensive in nature -- are still in positive territory; their gains range from just 0.1% to 0.2%.DJ30 -18.77 NASDAQ -0.72 SP500 -1.81 NASDAQ Adv/Vol/Dec 1235/585 mln/1045 NYSE Adv/Vol/Dec 1460/215 mln/1465

11:30 am : Although the rest of the Financial sector is flat, shares of JPMorgan Chase (JPM 34.56, +0.79) have rallied for a gain greater than 2% following the start of CEO Jamie Dimon's testimony before the Senate Banking Committee. He stated that he expects the bank to be solidly profitable in the current quarter, and also that positions in the company's portfolio will be disclosed upon reporting second quarter results. Dimon also noted that with regard to the company's trading loss a few weeks ago corrective action will be taken when a board review is finished, but progress has already been made in reducing risk.DJ30 -12.52 NASDAQ +4.91 SP500 -0.68 NASDAQ Adv/Vol/Dec 1155/490 mln/1075 NYSE Adv/Vol/Dec 1290/185 mln/1590

11:00 am : Stocks have poked into positive territory after trading with sizable losses only an hour ago. The action comes at the same time that the euro extends its lead over the greenback -- the currency is now up to a 0.5% gain.

Leadership among stocks remains rather limited, however. One of the most influential sectors, Financials have pushed up to a narrow gain of only about 0.2%. Tech stocks are collectively up nearly 0.2%, too. DJ30 +1.59 NASDAQ +7.29 SP500 +0.97 NASDAQ Adv/Vol/Dec 1170/380 mln/1030 NYSE Adv/Vol/Dec 1530/145 mln/1310

10:35 am : Crude oil prices were down some 1% earlier this morning, but have since worked their way upward. The effort has been extended in the wake of weekly oil inventory numbers, which showed a draw of 191,000 barrels when a draw of 1.5 million barrels had been broadly expected. Prices are currently up 0.1% to $83.45 per barrel.

Natural gas prices are up from morning lows, but still in negative territory with a 1.2% loss at $2.20 per MMBtu.

Precious metals prices remain in positive territory. Specifically, gold prices are at $1621 per ounce with a 0.5% gain. Silver prices have drifted down to $29 per ounce, which makes for a gain of just 0.1%. DJ30 -16.69 NASDAQ -1.53 SP500 -1.65 NASDAQ Adv/Vol/Dec 780/245 mln/1360 NYSE Adv/Vol/Dec 940/105 mln/1860

10:00 am : Stocks remain in negative territory. Losses are slightly more than modest, but not at all severe.

Shares of JPMorgan Chase (JPM 33.77, +0.00) are currently flat. The CEO of the diversified financial services giant is about to begin his testimony before the Senate Banking Committee. The rest of the Financial sector is down 0.5%.

Business inventory data for April were just released. Inventories were up 0.4% for the month. That's double the increase that had been generally expected. DJ30 -56.46 NASDAQ -13.47 SP500 -6.37 NASDAQ Adv/Vol/Dec 705/100 mln/1320 NYSE Adv/Vol/Dec 740/55 mln/1950

09:45 am : Stocks are trying to press higher after sliding lower at the open of trade. The major equity averages remain in the red with modest losses, though.

Leadership is lacking in the early going -- Health Care, up 0.3%, stands as the only major sector sporting a gain. Industrials are in the worst shape as they contend with a collective loss on the order of 1%. DJ30 -35.80 NASDAQ -6.26 SP500 -4.95 NASDAQ Adv/Vol/Dec NA/NA/NA NYSE Adv/Vol/Dec NA/NA/NA

09:15 am : S&P futures vs fair value: -5.50. Nasdaq futures vs fair value: -7.00. Losses among Europe's major bourses and some disappointing economic data have weighed on stock futures so that a firmly lower start to today's trade is expected. The dollar is also down -- it currently trails a collection of competing currencies by about 0.2%. The dollar's decline combined with the cautious tone among premarket participants has helped lift gold prices above $1620 per ounce for a solid gain, currently about 0.5%. Meanwhile, oil prices are down more than 1% to $82.40 per barrel ahead of their weekly inventory report at 10:30 AM ET. Treasuries have attracted only a modicum of buying interest, but enough to pull the yield on the benchmark 10-year Note back narrowly to 1.65%. Results from an auction of 10-year Notes will be released at 1:00 PM ET.

09:05 am : S&P futures vs fair value: -4.70. Nasdaq futures vs fair value: -5.50. The CRB Index is currently down 0.4% as energy prices come under pressure. Crude oil prices are down 0.9% to $82.55 per barrel in early pit trade. Prices could experience further volatility with the release of weekly oil inventory numbers at 10:30 AM ET. Natural gas prices are also under pressure; recently quoted with a 1.9% loss at $2.19 per MMBtu. Precious metals prices are presently in positive territory with gold sporting a 0.6% gain at $1623 per oune and silver sitting a $29.07 per ounce with a 0.4% gain.

08:35 am : S&P futures vs fair value: -3.50. Nasdaq futures vs fair value: -4.80. Stock futures have encountered some selling pressure following a couple of doses of data. Meanwhile, the dollar remains under pressure, but gold prices have popped up to almost $1620 per ounce for a 0.4% gain and a new morning high.

Retail sales declined during May by 0.2%, which is greater than the 0.1% decline that had been broadly expected. Retail sales for the prior month were revised downward to reflect a 0.2% decline. Excluding autos, retail sales declined by 0.4%, which contrasts with the Briefing.com consensus call for no change. Prior month numbers were revised downward to reflect a 0.3% decline.

Separately, overall producer prices declined during May by 1.0%, which is steeper than the 0.7% decline that had been widely forecasted. Core producer prices were up 0.2% in May, as had been expected.

08:05 am : S&P futures vs fair value: flat. Nasdaq futures vs fair value: +1.20. A broad-based advance during the prior session helped offset losses suffered on Monday, but there's a cautious tone to premarket trade today. The lack of direction comes as stocks in Europe drift into the red for modest losses. Meanwhile, debt yields among countries in both the eurozone core and periphery have varied in their movement. As an aside, overnight action in Asia was generally positive as participants there took cues from the performance of US stocks, but remained mindful of the challenges facing the eurozone.

Corporate news remains sparse, but JPMorgan Chase (JPM 33.85, +0.08) will come into focus with the testimony of its CEO Jamie Dimon to the Senate Committee on Banking at 10:00 AM ET. Note: ticker quote reflects premarket price.

As for domestic data, the bottom of the hour brings the latest in producer prices and retail sales. Business inventories will be released at 10:00 AM ET. Also on the docket, weekly oil inventory numbers are due at 10:30 AM ET. At 1:00 PM ET results of an auction of 10-year Notes will be released.

06:28 am : [BRIEFING.COM] S&P futures vs fair value: +1.50. Nasdaq futures vs fair value: +2.50.

06:28 am : Nikkei...8578.84...+51.10...+0.60%. Hang Seng...19026.52...+154.00...+0.80%.

06:28 am : FTSE...5474.15...+0.40...0.00. DAX...6141.75...-19.20...-0.30%.

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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