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 10:55 am

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: June 14th Thursday 2012 Emini TF ($TF_F) points +7.80
PostPosted: Fri Jun 15, 2012 12:28 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:
061412-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit-780.png
061412-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit-780.png [ 76.55 KiB | Viewed 289 times ]

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

Price Action Trade Performance for Today: +7.80 points or $780 dollars in the Russell 2000 Emini TF ($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=1247.

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.

Attachment:
061412-Key-Price-Action-Markets.png
061412-Key-Price-Action-Markets.png [ 661.24 KiB | Viewed 294 times ]


Image

Market Update

4:30 pm : The stock market continued its recent string of daily swings today as the S&P 500 scored a gain of about 1% after starting the session near the neutral line. Despite its effort, the S&P 500 enters Friday only a few points above where it began the week.

Broad market stock futures traded in a relatively narrow range near the neutral line this morning. Market participants appeared cautious as Europe’s major bourses moved lower following another downgrade of Spain's debt the night before. Also at work was an increase in weekly initial jobless claims to 386,000 from 380,000 when a tally of 375,000 initial claims had been expected, on average, among economists polled by Briefing.com. However, sentiment seemed to strengthen on hopes that underwhelming data might compel the Fed to implement another round of quantitative easing when they meet next week.

While producer price data released yesterday was somewhat out of sync with what had been forecasted, consumer price data released today didn’t necessarily support the case against accommodative action by the Fed. Overall consumer prices declined during May by 0.3%, while core prices increased by 0.2%. Economists polled by Briefing.com had expected, on average, a decline in overall prices of 0.2%, but an increase in core prices of 0.1%.

Current deficit data was given less attention. For the first quarter it totaled $137.3 billion, which is greater than the $130.9 billion deficit that had been broadly anticipated.

Although trade was generally lackluster in the early going, buyers began to step in with a bid. Strong gains held into the afternoon, but support started to wane shortly before the final hour. The drift lower was reversed when stocks spiked to session highs in response to reports that central banks are preparing for a coordinated effort, if necessary, after political elections are held in Greece this coming weekend. Trade turned whippy in the wake of that headline, but the broad market still booked a gain on the order of 1%.

Although the tone of trade would suggest that participants might be more willing to take on risk, defensive-oriented Telecom scored the strongest gain of any major sector. It settled nearly 2% higher for the day. However, mobile handset maker Nokia (NOK 2.35, -0.44) saw its shares slump to new multi-year lows in response to a pessimistic profitability forecast.

In other corporate news, Credit Suisse (CS 17.97, -1.87) shares were cut down to multi-year lows for concerns that the firm will move to raise new capital at the urging of officials.

Kroger (KR 22.58, +1.29) was one of few companies to report quarterly results this morning. The company posted an upside earnings surprise and issued strong guidance, helping its shares outperform in the latest round of action.

Energy stocks were also strong. The sector’s 1.7% gain came amid higher oil and natural gas prices. Crude oil scored a gain of about 1.6% by finishing pit trade at $83.85 per barrel amid a modestly weaker dollar and OPEC’s decision to keep its daily oil production ceiling unchanged at 30 million barrels. A bullish inventory report helped natural gas prices rally to $2.50 per MMBtu for a 14.7% gain.

Tech stocks lagged for virtually the entire session. The sector’s 0.3% gain was less than what any other sector managed today. Its relative weakness hampered the Nasdaq.

The dollar traded higher overnight, but pulled back early this morning. Still, it managed to limit its loss as the euro muddled along with only a narrow gain before bouncing at the end of the day. As of the closing bell the euro was up 0.5% against the greenback.

Advancing Sectors: Tech +0.3%, Materials +0.7%, Utilities +0.8%, Industrials +0.9%, Consumer Staples +1.3%, Financials +1.3%, Health Care +1.4%, Consumer Discretionary +1.4%, Energy +1.7%, Telecom +1.9%
Declining Sectors: NoneDJ30 +155.53 NASDAQ +17.72 NQ100 +0.5% R2K +1.3% SP400 +0.8% SP500 +14.22 NASDAQ Adv/Vol/Dec 1732/1.62 bln/736 NYSE Adv/Vol/Dec 2144/777 mln/900

3:30 pm : Crude oil came off its pit session low of $82.37 per barrel and traded higher with help from a modestly weaker dollar and OPEC’s decision to keep its daily oil production ceiling unchanged at 30 million barrels. The energy component settled with a gain of $1.29 at $83.85 per barrel, narrowly beneath a session high of $84.04 per barrel that was set moments prior to pit close. Natural gas popped following bullish inventory data that showed a lower-than-anticipated build. It continued to move higher for the remainder of floor trade, settling 14.7% higher at its session high of $2.50 per MMBtu.

Gold and silver rallied to respective floor session highs of $1629.00 per ounce and $28.97 per ounce following disappointing weekly initial jobless claims data and an unsurprising CPI report. However, both metals retreated with the open of US equity markets. Gold fell into negative territory to a session low of $1610.40 per ounce, but erased the loss and settled floor trade unchanged at $1619.90 per ounce. Silver slid to a session low of $28.15 per ounce and spent the remainder of pit trade attempting to recover from the move. It settled with a 1.6% loss at $28.47 per ounce. DJ30 +137.29 NASDAQ +11.61 SP500 +11.95 NASDAQ Adv/Vol/Dec 1655/1.22 bln/815 NYSE Adv/Vol/Dec 2145/480 mln/865

3:00 pm : Stocks are at afternoon lows -- in fact, the Nasdaq is now negative -- as action enters its final hour of the session. Looking ahead, there aren't any earnings reports of consequence scheduled for after the close or tomorrow morning, but Friday does bring a few doses of economic data, including the monthly Empire Manufacturing Index, industrial production and capacity utilization readings, and the preliminary monthly reading on consumer sentiment from the University of Michigan. Of course, attention may be more focused on weekend political elections in Greece and next week's Fed meeting.DJ30 +89.23 NASDAQ -0.59 SP500 +6.42 NASDAQ Adv/Vol/Dec 1350/1.00 bln/915 NYSE Adv/Vol/Dec 1915/385 mln/1070

2:30 pm : Stocks have surrendered a chunk of gains in recent trade. The action has left the Nasdaq holding on to only a narrow gain.

Meanwhile, the dollar has ticked back up to the flat line. Its resilience has restricted gains by the euro, which is currently up only 0.1% against the greenback.

Treasuries are still wrestling with selling pressure. That has the yield on the benchmark 10-year Note still a few basis points above 1.60%. DJ30 +93.20 NASDAQ +3.79 SP500 +8.03 NASDAQ Adv/Vol/Dec 1625/835 mln/810 NYSE Adv/Vol/Dec 2070/350 mln/915

2:00 pm : The Dow and S&P 500 continue to trade near session highs with strong gains, but gains by the Nasdaq have moderated so that the Tech-rich Index is now near an afternoon low. Tech stocks are collectively up only 0.1%, which makes them the poorest performing sector this session. Qualcomm (QCOM 56.59, -2.35) is among the poorest performers in the space after breaking below its 200-day moving average.DJ30 +113.14 NASDAQ +13.21 SP500 +10.60 NASDAQ Adv/Vol/Dec 1630/860 mln/785 NYSE Adv/Vol/Dec 2070/320 mln/910

1:30 pm : Treasuries remain under pressure whilst stocks trade near session highs with strong gains. Results from an auction of 30-year Bonds haven't done anything to improve the action in the fixed income space. The offering drew a Bid-to-Cover of 2.40, Dollar Demand of $31.2 billion, which is the lowest since 2009, and an Indirect Bidder participation rate of 32.5%. For comparison, the prior auction featured a Bid-to-Cover of 2.73, Dollar Demand of $43.7 billion, and an Indirect Bidder rate of 33.7%, while an average of the past six auctions results in a Bid-to-Cover of 2.72, Dollar Demand of $37.9 billion, and an Indirect Bidder rate of 31.1%.DJ30 +114.54 NASDAQ +13.55 SP500 +10.44 NASDAQ Adv/Vol/Dec 1635/790 mln/755 NYSE Adv/Vol/Dec 2095/295 mln/870

1:00 pm : Stocks have pushed up to strong gains after starting the session in mixed fashion. The move has been broad based.

The broad market managed to open narrowly above the neutral line, despite a disappointing weekly initial jobless claims count and renewed weakness among Europe’s major bourses in the wake of another downgrade of Spain's debt. Monthly consumer prices were generally unsurprising, while the first quarter current deficit was shrugged off.

Choppy action in the early going gave way to a broad-based bounce that has taken the S&P 500 back to where it began the week. Energy stocks have emerged as leaders; the sector currently sports a 1.3% gain with help from higher oil and natural gas prices. Oil had been up only modestly for most of the morning, but more recently oil prices are up to $83.80 per barrel for a 1.5% gain. Meanwhile, natural gas prices have rallied to $2.43 per MMBtu for a 11% gain following a smaller-than-expected build in weekly inventories.

The Consumer Discretionary sector is also in strong shape; a rebound from its prior session drop has resulted in a 1.3% gain.

Despite the broad-based bid, Credit Suisse (CS 17.91, -1.93) shares have dropped precipitously to a new multi-year low in response to the urging of officials for the firm to raise new capital. Nokia (NOK 2.41, -0.38) shares have also plummeted to a new multi-year low; the company issued a pessimistic outlook on profitability and announced its plan for job cuts.

The dollar has been wrestling with modest selling pressure for most of the session. As such, the Dollar Index was last quoted with a 0.1% loss after it had been higher overnight. Meanwhile, the euro is up 0.2%. The two currencies could experience an increase in volatility with the approach of elections in Greece this weekend and a Fed meeting next week. DJ30 +121.05 NASDAQ +18.57 SP500 +11.23 NASDAQ Adv/Vol/Dec 1615/720 mln/755 NYSE Adv/Vol/Dec 2055/270 mln/895

12:30 pm : The major equity averages continue to trade near session highs. The hesitation to extend their climb comes as stocks enter a consolidative pattern after pushing up from near the flat line this morning.DJ30 +102.36 NASDAQ +15.58 SP500 +9.28 NASDAQ Adv/Vol/Dec 1600/650 mln/740 NYSE Adv/Vol/Dec 2080/245 mln/855

12:00 pm : Strong gains remain as stocks sit just shy of their session high. The wide ranging movements of the past few sessions -- down more than 1% on Monday, up more than 1% on Tuesday, a near 1% loss yesterday, and now a strong gain today -- have only left the S&P 500 essentially unchanged for the week. Just last week the broad market measure advanced for a weekly gain of 3.7%, which stands as its best weekly performance since December.DJ30 +106.56 NASDAQ +17.49 SP500 +10.04 NASDAQ Adv/Vol/Dec 1610/565 mln/690 NYSE Adv/Vol/Dec 2125/215 mln/800

11:30 am : Stocks are at session highs with strong gains. Buying remains broad based in that all 10 major sectors are in positive territory. Their gains range from the Tech sector's 0.4% gain to the Consumer Discretionary sector's 1.3% gain. Meanwhile, advancing issues outnumber decliners by more than 2-to-1 on the NYSE.DJ30 +120.64 NASDAQ +20.25 SP500 +11.65 NASDAQ Adv/Vol/Dec 1585/470 mln/680 NYSE Adv/Vol/Dec 2090/180 mln/780

11:00 am : Stocks have pushed up to new session highs. Energy issues have emerged as a source of leadership as the sector climbs to a 1.0% gain. Oil prices continue to cling to only modest gains -- currently up 0.4% at $82.95 per barrel -- while natural gas has extended its rally so that the energy component now sports a 9.0% gain at $2.38 per MMBtu.

Even Tech, which only recently came off the flat line, has moved up to a 0.3% gain. Tech's relatively small gain is largely to blame for a lagging Nasdaq, which has trailed its counterparts since the open. DJ30 +103.15 NASDAQ +15.69 SP500 +9.26 NASDAQ Adv/Vol/Dec 1480/360 mln/730 NYSE Adv/Vol/Dec 2060/145 mln/755

10:35 am : Natural gas prices were recently at $2.21 per MMBtu, but have since rallied up to $2.32 per MMBtu for a 6.0% gain. The spike comes in response to a weekly inventory report that showed a build of 67 bcf when a build of 80 bcf had been broadly expected.

Crude oil prices are currently up 0.2% at $82.80 per barrel after they had been near $83.20 per barrel ahead of pit trade, and as low as $82.41 more recently.

Precious metals prices have run into selling pressure, resulting in a drop in gold prices to $1618 per ounce for a 0.1% loss after they had been up above $1625 per ounce earlier this morning. Silver is down a much steeper 1.8% to $28.43 per ounce. DJ30 +75.60 NASDAQ +8.22 SP500 +6.43 NASDAQ Adv/Vol/Dec 1410/240 mln/735 NYSE Adv/Vol/Dec 2045/105 mln/735

10:00 am : Stocks have pushed higher in recent trade. There is no clear catalyst to account for the move, but it has been broad based.

The move comes as the dollar eases down to a 0.1% loss, relative to a basket of major foreign currencies, and as gold prices pull back to $1615 per ounce for a 0.2% loss. DJ30 +79.62 NASDAQ +8.47 SP500 +7.19 NASDAQ Adv/Vol/Dec 970/115 mln/1060 NYSE Adv/Vol/Dec 1425/60 mln/1205

09:45 am : The major equity averages are mixed in choppy action this morning. Tech, down 0.5%, is a source of weakness, but Consumer Discretionary stocks are providing support with a 0.5% gain as the sector rebounds from a prior session slump that came amid a disappointing monthly retail sales report.DJ30 +30.35 NASDAQ -6.00 SP500 +1.85 NASDAQ Adv/Vol/Dec NA/NA/NA NYSE Adv/Vol/Dec NA/NA/NA

09:15 am : S&P futures vs fair value: +3.40. Nasdaq futures vs fair value: +5.00. Amid renewed weakness in Europe and another downgrade of Spain's debt, premarket participants were dealt an underwhelming dose of data that featured the latest weekly initial jobless claims numbers and monthly consumer prices. The slip by stock futures that followed has since reversed course so that a narrowly positive open for the cash market is now expected. The improvement comes alongside an increase in gold prices, which are off of morning highs, but still up 0.4% at $1625 per ounce. Meanwhile, the dollar is back to the flat line for a morning low. Given recent data and persistently precarious conditions in Europe, speculation for further quantitative easing by the Fed will likely pick up with the approach of its meeting next week.

09:05 am : S&P futures vs fair value: +3.30. Nasdaq futures vs fair value: +5.70. Stock futures have firmed up in recent trade. Energy-related commodities have also attracted buying interest. Specifically, crude oil prices are up 0.5% to $83 per barrel in early pit trade, while natural gas prices trade at $2.22 per MMBtu for a 1.6% gain ahead of their weekly inventory report at 10:30 AM ET. Precious metals prices are more mixed in that gold prices are up 0.4% to $1626 per ounce following a recent pop that coincided with a downward drift by the dollar, while silver prices are precently down 0.3% to $28.85 per ounce.

08:35 am : S&P futures vs fair value: -0.80. Nasdaq futures vs fair value: -2.50. Stock futures have eased back a bit following a flurry of data, which failed to offer any truly positive surprises.

The latest weekly initial jobless claims count totaled 386,000, which is greater than the 375,000 initial claims that had been expected, on average, among economists polled by Briefing.com. It also marks and increase from the upwardly revised prior week tally of 380,000 initial claims. However, continuing claims declined to 3.28 million from 3.31 million.

Separately, overall consumer prices declined during May by 0.3%, which is slightly steeper than the 0.2% decline that had been generally expected. Core prices increased by 0.2%, though. Economists polled by Briefing.com had expected, on average, that core prices would increase by only 0.1%.

Lastly, the current deficit for the first quarter totaled $137.3 billion, which is greater than the $130.9 billion deficit that had been broadly anticipated.

08:05 am : S&P futures vs fair value: +0.50. Nasdaq futures vs fair value: +2.00. The slide in the prior session has seen no real follow-through, despite Europe's sizable losses, which have come amid higher yields on the sovereign debt of Spain. Just yesterday analysts at Moody's downgraded the country's debt to BAA3 from A3. The yield on Spain's 10-year Note actually set a new record high above 7.0%. Keeping with Europe and the continent's precarious conditions, Credit Suisse (CS 17.82, -2.02) has been urged to raise additional capital, resulting in a precipitous premarket drop. Note: ticker quote reflects US premarket price. As for the euro, it is down only modestly against the greenback this morning. On to the domestic economic calendar, monthly consumer price data and weekly initial jobless claims numbers will be released at the bottom of the hour.

06:30 am : [BRIEFING.COM] S&P futures vs fair value: +3.00. Nasdaq futures vs fair value: +3.50.

06:30 am : Nikkei...8568.89...-19.00...-0.20%. Hang Seng...18808.40...-218.10...-1.20%.

06:30 am : FTSE...5439.13...-44.70...-0.80%. DAX...6093.55...-58.90...-0.90%.

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