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 Post subject: July 24th Tuesday 2012 Emini TF ($TF_F) points +18.30
PostPosted: Tue Jul 24, 2012 9:57 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:
072412-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit-1830.png
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click on the above image to view today's performance verification

Price Action Trade Performance for Today: +18.30 points or $1830 dollars in the Russell 2000 Emini TF ($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 #TheStrategyLab chat room. You can read today's #TheStrategyLab 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=106&t=1279.

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=163&t=1526

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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 : After setting session lows 40 minutes before the close, stocks recovered some losses in the final minutes of trading. The S&P 500 and Nasdaq led the decline at nearly 1% each, with the Dow slightly outperforming at -0.8%. All sectors were in the red as energy, consumer discretionaries, and materials led the losses. Today's trading was driven by slim earnings outperformance coupled with lowered full year guidance from multiple firms. The only economic data of note came from the FHFA which reported the Housing Price Index. For May, the index increased by 0.8%, which follows a 0.8% increase in the prior month.

Buffalo Wild Wings (BWLD 78.90, -1.79) and Panera Bread (PNRA 141.91, -0.81) traded lower ahead of their after-hours reports. The results of the two restaurants should shed some light on consumer spending during the past quarter.

In the technology sector, besides the highly anticipated Apple (AAPL 600.92, -2.91) earnings, reports from Broadcom (BRCM 30.77, -0.21), and Juniper Networks (JNPR 14.82, -0.41) bear watching as well.

Homebuilders saw significant underperformance today as the SPDR S&P Homebuilders ETF (XHB 21.12, -0.46) traded down 2%. Homebuilder KB Homes (KBH 9.63, -0.53) led the sector lower with today's 5.2% decline dropping the stock back onto near-term support.

The energy sector was the primary laggard this session, down over 2.5%.

Coal producer Peabody Energy (BTU 20.55, -2.61) traded at more than a three-year low after a mixed second quarter report with downside third quarter earnings guidance. The company expects lower thermal coal pricing in the third quarter.

The industrial sector also underperformed, down over 1.5%. UPS (UPS 74.34, -3.61), Rockwell Collins (COL 47.23, -1.95) and Illinois Tool Works (ITW 52.29, -1.28) were all lower after reducing their full year outlook this morning.

Shares of Cisco Systems (CSCO 15.12, -0.95) were under severe pressure all day after VMware (VMW 88.89, -0.34) acquired network virtualization company Nicira. The acquisition posed as a potential competitive threat for both Cisco and rival Juniper Networks (JNPR 14.82, -0.41). Today's selling has dropped Cisco onto support in the $15.00 area that dates back to both last summer and the 2009 bottom.

Treasuries declined to record low levels with the 10-yr yields dropping to 1.40%DJ30 -104.1 NASDAQ -27.16 SP500 -12.21 NASDAQ Adv/Vol/Dec 662/1.68 bln/1743 NYSE Adv/Vol/Dec 768/808.2 mln/2238

3:30 pm : Crude oil spent the majority of its pit session chopping around just above the unchanged line. Moves in the energy component came on improved Chinese manufacturing data and weak manufacturing data for Germany. Crude rallied to a session high of $89.14 per barrel moments before the close and settled the session with a 0.5% gain at $88.51 per barrel.

Natural gas continued its fifth session of gains as it inched higher for most of floor trade and brushed a session high of $3.20 per MMBtu in afternoon action. It settled 1.9% higher at $3.18 per MMBtu.

Precious metals dropped for a second session as the dollar rose on Europe's worsening debt crisis after Moody's lowered its credit-rating outlook yesterday for Germany, the Netherlands, and Luxembourg. Gold managed to break into positive territory and touch a session high of $1584.00 per ounce following weak manufacturing data but lost steam as the dollar regained its momentum. The yellow metal then fell to a session low of $1567.80 per ounce but recovered most of its losses in afternoon action and settled just 0.1% lower at $1576.00 per ounce.

Silver also briefly touched a session high of $27.15 per ounce in morning action but quickly dropped to a session low of $26.58 per ounce. Like gold, it then traded higher for the remainder of floor trade and settled with a 0.8% loss at $26.81 per ounce.DJ30 -134.4 NASDAQ -33.21 SP500 -15.84 NASDAQ Adv/Vol/Dec 673/1371.6/1783 NYSE Adv/Vol/Dec 692/546.3/2339

3:00 pm : Equities have remained flat after reaching session lows earlier today.

The S&P has been the worst performing index, down 1.4% on the day.

Buffalo Wild Wings (BWLD 78.03, -2.66) and Panera Bread (PNRA 140.58, -2.14) are set to report earnings after hours. The results of the two restaurants should also shed some light on consumer spending during the past quarter.

In the technology sector, besides the highly anticipated Apple (AAPL 600.85, -2.98) earnings, reports from Broadcom (BRCM 30.64, -0.34), and Juniper Networks (JNPR 14.81, -0.41 ) bear watching as well.DJ30 -173.5 NASDAQ -36.01 SP500 -19.16 NASDAQ Adv/Vol/Dec 660/1.23 bln/1687 NYSE Adv/Vol/Dec 641/482.3 mln/2342

2:30 pm : All three of the major bourses remain trapped near session lows as both the Dow and S&P 500 hold losses of 1.4% while the Nasdaq outperforms with a 1.1% decline.

Homebuilders are seeing significant under performance today as the SPDR S&P Homebuilders ETF (XHB 21.05, -0.52) trades down 2.4%. Homebuilder KB Homes (KBH 9.63, -0.53) is leading the sector lower with today’s 5.2% decline dropping the stock back onto near-term support.DJ30 -171.35 NASDAQ -30.84 SP500 -18.17 NASDAQ Adv/Vol/Dec 652/1.10 bln/1774 NYSE Adv/Vol/Dec 667/433.3 mln/2321

2:00 pm : The major averages attempted to lift off lows but relinquished the small intraday gains.DJ30 -154.55 NASDAQ -25.56 SP500 -16.04 NASDAQ Adv/Vol/Dec 704/1018 mln/1706 NYSE Adv/Vol/Dec 705/402 mln/2258

1:35 pm : Equities are just off their session lows.

The energy sector is the primary laggard this session, down over 2%.

Coal producer Peabody Energy (BTU 20.57 -2.59) is trading at more than a three year low after a mixed Q2 report with downside Q3 EPS guidance. The company expects lower thermal coal pricing in the third quarter.

The industrial sector is also underperforming, down 1.5%. UPS (UPS 73.94 -4.01), Rockwell Collins (COL 47.06 -2.12) and Illinois Tool Works (ITW 51.85 -1.72) are all lower after lowering FY12 guidance this morning.DJ30 -163.14 NASDAQ -29.06 SP500 -17.20 NASDAQ Adv/Vol/Dec 690/349 mln/1703 NYSE Adv/Dec 717/2284

1:00 pm : European markets ended on session lows during a rather choppy session. The German DAX, French CAC, and British FTSE closed down 0.5%, 0.9%, and 0.6% respectively.

U.S. equities have been steadily pushing lower since the open. The major indices are all on their lows at the session mid-point. The action today has been driven by lackluster earnings, coupled with reduced guidance from several prominent firms.

UPS (UPS 74.10, -3.85) continues to slide after the company lowered its full-year outlook due to demand concerns stemming from continued European weakness and the impending U.S. fiscal cliff. Citing the same worries, Lexmark (LXK 16.64, -2.57) has also issued a guidance cut earlier today. The company remains as one of the main laggards in the S&P 500.

Shares of Cisco Systems (CSCO 15.13, -0.94) are under severe pressure this morning after VMware (VMW 89.69, +0.46) acquired network virtualization company Nicira. The acquisition poses as a potential competitive threat for both Cisco and rival Juniper Networks (JNPR 14.76, -0.47). Today's selling has dropped Cisco onto support in the $15.00 area that dates back to both last summer and the 2009 bottom.

The latest Housing Price Index from the FHFA was released earlier today. For May, the Index increased by 0.8%, which follows a 0.8% increase in the prior month.

The market attention will now turn to the Apple (AAPL 603.44, -0.39) earnings report after the close.DJ30 -143.8 NASDAQ -22.34 SP500 -14.64 NASDAQ Adv/Vol/Dec 706/862.8 mln/1568 NYSE Adv/Vol/Dec 715/340.8 mln/2205

12:30 pm : Stocks are testing session lows as the S&P catches up to the Dow percentage decrease. Both indices are trading down close to 1.4%.

Crude oil has turned negative on the day. Losing nearly a full percentage point in the past half hour. The energy component has shed $0.65 during that period, and now trades at $88 per barrel.

UPS (UPS 73.61, -4.33) continues to slide after the company lowered its full-year outlook due to demand concerns stemming from continued European weakness and the impending U.S. fiscal cliff. Citing the same worries, Lexmark (LXK 16.47, -2.75) has also issued a guidance cut earlier today. The company remains as one of the main laggards in the S&P 500.DJ30 -158.5 NASDAQ -29.14 SP500 -17.48 NASDAQ Adv/Vol/Dec 728/780.2 mln/1531 NYSE Adv/Vol/Dec 671/309.3 mln/2238

12:00 pm : The major averages have slumped to session lows as a loss of 0.9% has the Dow pacing the decline. Slight outperformance can be seen in the Nasdaq which currently trades down 0.5%.

Shares of Cisco Systems (CSCO 15.24, -0.81) are under severe pressure this morning after VMware (VMW 90.50, +1.27) acquired network virtualization company Nicira. The acquisition poses as a potential competitive threat for both Cisco and rival Juniper Networks (JNPR 14.77, -0.45). Today's selling has dropped Cisco onto support in the $15.00 area that dates back to both last summer and the 2009 bottom. DJ30 -123.52 NASDAQ -16.34 SP500 -12.24 NASDAQ Adv/Vol/Dec 798/674.4 mln/1536 NYSE Adv/Vol/Dec 783/262.3 mln/2099

11:35 am : Another day of mixed results that fit the 'better than feared' term that has been used so widely over the past couple of weeks. A common theme has been for a company to beat on the bottom line and miss on the top with the better than expected earnings being driven by cost cutting. Guidance has been very conservative with the general reason being a lack of clarity and concern over the U.S. fiscal cliff/elections and Europe.

Some notables out over the past two days include: Baidu.com (BIDU 119.07, +11.97) which poseted a strong quarter as the company beat on top and bottom line and provided guidance at the high end of expectations; Texas Instruments (TXN 26.50, -0.32) posting a bottom line beat and top line miss while guiding below expectations; and VMware (VMW 90.42, +1.19) which posted a small beat on both the top and bottom lines while announcing mixed guidance.

The market attention will now turn to the Apple (AAPL 606.32, +2.49) earnings report after the close.DJ30 -84.01 NASDAQ -9.64 SP500 -8.50 NASDAQ Adv/Vol/Dec 854/592.1 mln/1443 NYSE Adv/Vol/Dec 921/226.5 mln/1947

11:00 am : After steady selling in the early part of the day, stocks are picking up off session lows. The Dow remains as the weakest of the three indices, as Industrials and Energy are pacing the decline.

Elsewhere, European markets have turned negative after treading water for most of the session. The German DAX, French CAC, and British FTSE are all trading near session lows. Barclays (BCS 9.39, -0.19) is one of the worst performing European financials, currently trading down 2%.DJ30 -83.29 NASDAQ -11.47 SP500 -8.17 NASDAQ Adv/Vol/Dec 804/477.3 mln/1319 NYSE Adv/Vol/Dec 936/180.4 mln/1895

10:35 am : Commodities have seen a nice run this morning after a pullback in the dollar index, but have mostly given up gains again.

In the energy space, Sept crude oil rallied off its LoD of $87.43/barrel to $88.87/barrel in under an hour. In current trade, crude oil is +0.5% at $88.62/barrel. July natural gas rallied earlier this morning and has held its gains after hitting a HoD of $3.17/MMBtu a short while ago. Nat gas is now +0.4% at $3.13/MMBtu.

In metals, August gold and Sept silver are lower again following a sharp pullback. Gold is now flat at $1577.60 and silver is -0.5% at $26.90/oz. July copper is down 0.4% at $3.37/lb.DJ30 -80.68 NASDAQ -10.51 SP500 -7.59 NASDAQ Adv/Vol/Dec 776/382.8 mln/1450 NYSE Adv/Vol/Dec 8699/147 mln/1890

10:05 am : Stocks continued to drift lower ahead of the FHFA Housing Price Index release. Early losses have the Dow leading the decline with a loss of 0.4%.

The latest Housing Price Index from the FHFA was also just released. For May, the Index increased by 0.8%, which follows a 0.8% increase in the prior month.DJ30 -64.33 NASDAQ -6.72 SP500 -4.59 NASDAQ Adv/Vol/Dec 1010/230.1 mln/971 NYSE Adv/Vol/Dec 1109/93.4 mln/1593

09:45 am : In early action, stocks are holding small losses. Shares of Under Armour (UA 54.31, +5.93) are outperforming after an earnings beat. The telecommunications sector is leading the way while utilities lag behind.

The FHFA Housing Price Index will be released in 15 minutes.DJ30 -25.32 NASDAQ -1.13 SP500 -2.01

09:14 am : [BRIEFING.COM] S&P futures vs fair value: -2.00. Nasdaq futures vs fair value: +1.80. Ahead of the bell, equity futures are pointing to a flat open. With a slew of earnings being reported this morning, many companies will be put in focus. This morning, Under Armour (UA), UPS (UPS), AT&T (T) all reported results and will be in focus throughout the session. Apple (AAPL) is another name to keep an eye on, with the company reporting after the market's close. The FHFA Housing Price Index will be released at 10 AM ET. Treasury will hold a $35 billion 2-yr note auction.

08:58 am : [BRIEFING.COM] S&P futures vs fair value: -5.40. Nasdaq futures vs fair value: -3.50. Overseas markets are seeing a mixed trade after the uptick in China's HSBC Flash Manufacturing PMI which followed Moody's placing the ‘AAA' ratings of Germany, Luxembourg, and the Netherlands on ‘negative watch.' China's HSBC Flash Manufacturing PMI rose to 49.5 (48.2 previous), but the reading still pointed to a contraction in the manufacturing sector of the world's second largest economy. Bond vigilantes continue to attack peripheral European debt after the Moody's outlook with selling driving the Italian and Spanish 10-yr yields up to 6.41% and 7.47% respectively. Economic data was rather disappointing as Eurozone, French, and German Flash Manufacturing and Services numbers were mostly below expectations with only France's Flash Services PMI topping forecasts and showing an expansionary reading (50.2 expected v. 47.7 expected).

The major Asian bourses (Nikkei -0.2%, Hang Seng -0.8%, Shanghai +0.2%) finished mixed after the HSBC Flash Manufacturing number provided support on the mainland. China's Shanghai Composite gained 0.2% as real estate shares led the way after officials in Nanjing announced a series of easing measures. Poly Real Estate jumped 2.1% while China Merchants Property rallied 3.8%. Financials were weak as Industrial & Commercial Bank of China and China Merchants Bank slipped 1.1% and 1.0% respectively. Meanwhile, In Hong Kong, the Hang Seng lost 0.8% in a session shortened by Typhoon Vicente. Energy giant CNOOC slid 4.0% after announcing its deal to acquire Canadian energy producer Nexen for $15.1 billion. Port operators outperformed as Cosco Pacific gained 2.0%. Elsewhere, Japan's Nikkei fell 0.2% to a six-week low. Chipmaker Toshiba plunged 5.4% after announcing it would cut NAND flash memory chip production by 30%, and electronics maker Sharp lost 1.7% on reports the company lost JPY100 billion in the most recent quarter.

The major European indices (FTSE UNCH, CAC UNCH, DAX +0.1%) are holding steady despite the morning's disappointing economic data. Britain's FTSE is flat as consumer goods lead and financials lag. Imperial Tobacco, and Unilever are up by 1.1% and 0.7% respectively. Financials are weaker this morning with Standard Chartered and Lloyds Banking Group both down close to 1.3%. Elsewhere, France's CAC is little changed with financials showing underperformance while consumer and luxury goods lead the way. Credit Agricole is down 1.7%, and BNP Paribas is off by 1.4%. LVMH Moet Hennessy Louis Vuitton is a leader, trading up 1.2%. In Germany, the DAX is up 0.1% as SAP paces the advance, sporting a gain of 4% on an earnings beat. The company announced a 12% earnings increase with revenues climbing 18% year over year.

08:28 am : [BRIEFING.COM] S&P futures vs fair value: -5.20. Nasdaq futures vs fair value: -6.00. Treasuries are little changed this morning as action takes a breather following yesterday’s historic session. Yields across the complex tumbled to record lows as Greece moved back into the headlines and Spain’s 10-yr yield surged to a record high near 7.50%. The benchmark 10-yr yield touched a record low 1.395% before afternoon selling ran it back up to 1.435%. Maturities across the complex are mostly unchanged this morning as all but the 30-yr hold within a couple ticks of their respective flat lines. Modest selling of the long bond has it down 9/32 at 110 04/32 which has produced a rise of almost one basis point in yield to 2.512%. The quiet session has had little impact on the yield curve as the 2-10-yr spread holds at 121.5 basis points. Data is limited to the FHFA Housing Market Index which crosses the wires at 10 AM ET. Treasury will auction $35 billion 2-yr notes.

08:05 am : S&P futures vs fair value: -5.60. Nasdaq futures vs fair value: -11. After trading down nearly 2% yesterday morning, equities managed to recover more than half of their losses to finish the day with a 0.9% loss. This morning, U.S. futures are trading flat but modestly lower vs. fair value amid a slew of earnings and flat trading in Europe. Shortly after the U.S. close yesterday Moody's cut its outlook on Germany (as well as Netherlands and Luxembourg), to negative from stable, citing rising uncertainty around the outcome of the ongoing euro debt crisis.

Asian markets were mixed, with Japan's Nikkei dropping 0.2% and China's Shanghai Composite gaining 0.2%. The Chinese HSBC flash Manufacturing PMI figure came in at 49.5, which was an improvement from last month but still represents a contractionary reading.

European bourses opened slightly higher, then drifted lower following a weaker than expected German Manufacturing PMI reading of 43.3. Despite the negative reading, markets are flat, which is a stark improvement from the sharp downward movement seen over the prior two sessions. In light of a weak auction, Spain continued seeing a rise in its bond yields with the 10-year now +8 basis points to 7.47%.

Earnings dominate the U.S. news flow, with around 100 companies reporting between yesterday's close and this morning's open. DeVry (DV 19.90, -8.66) is lower by 28% on weak guidance. AT&T (T 35.75, +0.37) is higher by 2% after beating EPS estimates on roughly in-line revenue. AT&T (T) activated 3.7 million Apple (AAPL 604.01, +0.18) iPhones in Q2, with 22% new to AT&T. Under Armour (UA 51.12, +2.74) is higher by 5.5% after beating on the top and bottom lines and issuing in-line guidance. Sanmina-SCI (SANM 7.18, +0.00) gained over 10% in after-hours on better than expected results. Baidu (BIDU 114.00, +6.90) is up 6% after it beat on both top and bottom lines. Steel Dynamics (STLD 12.22, +0.00) is unchanged after it beat by a penny on light revenue. VMware (VMW 85.95, -3.28) reported roughly in-line with last week's preannouncement.

There are another 65 companies scheduled to report earnings after the close tonight, most notably Apple (AAPL 604.01, +0.18).

06:27 am : Nikkei...8488.09...-20.20...-0.20%. Hang Seng...18903.20...-150.30...-0.80%.

06:27 am : FTSE...5538.99...+5.10...+0.10%. DAX...6413.64...-5.70...-0.10%.

06:25 am : S&P futures vs fair value: -5.50. Nasdaq futures vs fair value: -11.00.

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
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