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 Post subject: October 29th Monday No Trades Due To Hurricane Sandy
PostPosted: Mon Oct 29, 2012 10:39 pm 
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Joined: Sat Jan 10, 2009 2:06 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)

Quote:
I took a personal day off because the ICE Exchange for the Emini TF futures was closed today due to Hurricane Sandy. Yet, Light Crude Oil CL futures and EuroFX 6E futures were open but on low volume and low volatility. Thus, I decided not to trade until all key markets are open again. In addition, I believe the ICE exchange is closed tomorrow. If such is the case, I will most likely trade Oil CL futures early in the morning and then call it quits early.

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $0.00 dollars or +0.00 points, EuroFX 6E futures @ $0.00 dollars or +0.0000 ticks and Light Crude Oil CL (WTI) futures @ $0.00 dollars or +0.00 points. Total Profit @ $0.00 dollars.

Russell 2000 Emini TF Futures: 1 tick or 0.10 = $10.00 dollars and there's more contract information @ The ICE
Light Crude Oil CL (WTI) Futures: 1 tick or 0.01 = $10.00 dollars and there's more contract information @ CMEGroup
CME EuroFX 6E Futures: 1 tick or 0.0001 = $12.50 dollars and there's more contract information @ CMEGroup
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=109&t=1354

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). I'm primarily a day trader because it suits my personal lifestyle but I do occasionally swing trade or position trade.

Image Price Action Analysis via 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 Trade Signal Strategies via 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=192&t=1618

-----------------------------

Market Summaries

The below summaries by Bloomberg, CNNMoney, Reuters and Yahoo! Finance helps me to do a quick review of the fundamentals, FED/ECB/IMF actions or any important global economic events (e.g. Eurozone, MarketWatch.com) that had an impact on today's price action. Simply, I'm a strong believer that key market events causes key changes in supply/demand and volatility resulting in trade opportunities (swing points and strong continuation price actions) that reach profit targets. Thus, I pay attention to these key market events via WRB Analysis from one trade to the next trade to give me the market context before the appearance of my technical analysis trade signals. Therefore, I maintain these archives to allow me to understand what was happening on any given trading day in the past involving key market events to help better understand my trading (day trading, swing trading, position trading) and reactions to the markets...something I can not get from my broker statements alone.

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Market Update

1:20 pm : U.S. equity markets remain closed as Hurricane Sandy approaches New York City. Note that the markets will also be closed tomorrow.

The European session has now ended, and all key bourses registered losses.

France's CAC settled lower by 0.8% and defensive telecom and utility stocks lagged throughout the session. Alcatel-Lucent and Vivendi lost 3.3% and 1.9%, respectively. Meanwhile, Veolia Environnement fell 4.8% after the company was reported to be looking into a capital increase in order to lower debt. Among the advancers, tire maker Michelin gained 1.3%, and was the top performer on the CAC.

Germany's DAX slipped 0.4%. ThyssenKrupp slid 3.8%, and was the worst performer after the steelmaker asked interested parties to resubmit offers for its American unit after initial bids were deemed too low. Chemical producer Linde gained 2.4% on strong earnings.

In the United Kingdom, the FTSE shed 0.2% and financials showed broad weakness. Insurer Hargreaves lost 4.2% after Citigroup downgraded the stock to ‘sell' from ‘neutral.' Admiral Group and Old Mutual settled lower by 2.1% and 1.6%, respectively. Technology stocks showed strength as ARM Holdings and Sage Group saw respective gains of 1.4% and 1.8%.

Greece's Athens Stock Exchange was a notable outlier as the index lost 6.3%. Earlier, a story out of Germany's Der Spiegel indicated private bondholders may have to face some losses. Financials saw significant pressure as Bank of Spain, National Bank of Greece, and Piraeus bank all lost between 14.9% and 18.6%.

Italy's 10-yr yield added 11 basis points and it currently sits at 5.019%. Meanwhile, Spain's 10-yr benchmark yield edged up six basis points, to 5.656%.

The euro trades near its session low against the dollar as the currency pair trades at 1.2892.

09:18 am : [BRIEFING.COM] S&P futures vs fair value: -4.60. Nasdaq futures vs fair value: -15.50. As a reminder, U.S. equity markets are closed today. In addition, futures trading stopped at 9:15 ET. The S&P 500 futures ended lower by 0.4%, Nasdaq futures shed 0.6%, and Dow futures lost 0.5%. The bond market is currently open, but will close at noon ET.

Looking at overseas action, major Asian indices settled lower. China's Shanghai Composite was a notable underperformer, down 0.5%. Meanwhile, Japan's Nikkei finished unchanged ahead of the Bank of Japan policy meeting, scheduled for this evening.

Key European bourses are also lower this morning. France's CAC is lower by 0.8% while Germany's DAX is down 0.5%, and United Kingdom's FTSE is shedding 0.4%.

Peripheral yields have inched higher today as Spain's 10-yr benchmark yield rose six basis points to 5.647%, and Italy's 10-yr rate increased by ten basis points, to 4.994%.

The dollar index is higher by 0.2% as it hovers near the 80.20 level. The euro is losing 46 basis points against the greenback, and the pair currently trades at 1.2896. Compared to the Japanese yen, the dollar is sliding 0.1%, and the pair is trading at 79.58.

09:01 am : [BRIEFING.COM] S&P futures vs fair value: -6.90. Nasdaq futures vs fair value: -19.80. U.S. equity futures have lifted off their pre-market lows, but they remain firmly in the red. The S&P 500 futures are slipping 0.5%.

The major Asian averages ended mixed amid cautious trade as Hurricane Sandy bears down on New York City. There was no data from the region released overnight.

Japan's Nikkei closed unchanged as traders were cautious ahead of tonight's Bank of Japan rate decision where many expect an increase to the central bank's asset purchase program. Honda Motor fell 4.7% after an inadvertent earnings release showed the company lower its full-year profit forecast because of the weak demand in China. Rivals Nissan Motor and Toyota Motor fell 2.2% and 1.6% respectively as they piggybacked the move. Meanwhile, NEC jumped 5.7% after announcing a 38% year-over-year rise in profit.

In Hong Kong, the Hang Seng shed 0.2% as property developers were hit hard. New World Development tumbled 7.8% and Henderson land plunged 6.8% after Hong Kong announced a 5% increase on the duty for property transactions, and a buyers tax for non-local residents and companies. Elsewhere, oil giant Sinopec rallied 3.7% after its earnings.

China's Shanghai Composite settled lower by 0.4% amid a quiet trade. Ping An Insurance fell for a fifth consecutive session, losing 4.2% ahead of tomorrow's earnings. Meanwhile, Wuhan Iron & Steel slipped 0.8% after third quarter net-profit tumbled 53% on weaker demand.

European markets are broadly lower. The region's macroeconomic data was limited to mostly in-line and better-than-expected lending numbers out of Great Britain. Meanwhile, reports out of German Der Spiegel indicate the Eurozone partners will demand an additional 150 reforms when they meet again on Wednesday. Elsewhere, a Bank of England member tempered expectations following the UK's strong third quarter GDP reading, by stating that the data may have received a boost from the Olympics.

In France, the CAC is down 1.1% and defensive utility and communications stocks are showing weakness. Veolia Environnement is down 4.2% and Alcatel-Lucent is sliding 3.3%. Meanwhile, financials are also weighing on the index. Credit Agricole and Societe Generale are both lower by 2.0%. Carrefour is the only advancer among equities listed on the CAC. The shares of the food retailer are trading higher by 0.5%.

Germany's DAX is sliding 0.8% as industrials and car makers weigh on the index. ThyssenKrupp is down 3.5% after the steelmaker asked interested parties to resubmit offers for its American unit after initial bids were deemed too low. Daimler and BMW are seeing respective losses of 2.0% and 1.3% after Daimler cut its profit target for next year. On the upside, chemical producer Linde is rising by 2.6% after its third quarter earnings exceeded expectations.

In the United Kingdom, the FTSE is lower by 0.5% and financials are showing broad weakness. Admiral Group, Hargreaves Lansdown, and Old Mutual are all down between 1.9% and 4.9%. Looking at the advancers, industrials Meggitt and Weir Group are both up near 1.2%.

08:33 am : [BRIEFING.COM] S&P futures vs fair value: -8.90. Nasdaq futures vs fair value: -23.30. U.S. equity futures have shown little change to the latest income, spending, and core prices data. The S&P 500 futures are lower by 0.7%.

Personal income increased in September by 0.4%, which is in-line with expectations. Personal spending increased by 0.8%, which is better than the Briefing.com consensus estimate of a 0.6% increase. Lastly, core personal consumption expenditures were higher by 0.1%, which is in-line with expectations.

08:01 am : [BRIEFING.COM] S&P futures vs fair value: -8.80. Nasdaq futures vs fair value: -22.30. U.S. equity futures are modestly lower amid downbeat overseas trade. Note that U.S. equity markets will be closed today due to Hurricane Sandy. In addition, the Chicago Board Options Exchange has cancelled all trading.

Overnight, the global equity markets were mostly lower. Reports out of China suggested there is little chance of any near-term interest rate cut due to foreign currency positions and money supply growth. Also, the economy does not present the conditions for intervention since global quantitative easing has limited the nation's monetary policy options. Meanwhile, Japan was virtually unchanged following worse-than-expected retail trade data, but slightly better-than-expected large retailers' sales results. The yen was mostly weaker overnight in advance of the Bank of Japan meeting tomorrow, during which an increase to its asset purchase plan is expected. Looking at regional indices, China's Shanghai Composite lost 0.4%, Hong Kong's Hang Seng shed 0.2%, and Japan's Nikkei ended virtually unchanged.

In Europe, macro data was limited to mostly in-line and better-than-expected lending numbers out of Great Britain. In addition, German CPI will be released at 8:00 ET. Reports out of German Der Spiegel indicate the Eurozone partners will demand an additional 150 reforms when they meet again on Wednesday. Elsewhere, a Bank of England member tempered expectations following the UK's strong third quarter GDP reading, by stating that Q3 data may have received a boost from the Olympics. Nearing midday, European bourses are broadly lower. France's CAC is down 1.0%, Germany's DAX is lower by 0.7%, and UK's FTSE is off by 0.6%.

In U.S. corporate news, Burger King Worldwide (BKW 14.95, 0.00) reported third quarter earnings of $0.17 on revenue of $451.1 million. Both numbers were ahead of the Capital IQ consensus estimates which expected the fast food operator to earn $0.14 on $442.96 million in revenue. In addition, the company initiated a quarterly cash dividend of $0.04 per share.

Harris (HRS 47.14, 0.00) announced first quarter earnings of $1.14 which was $0.01 better than the Capital IQ consensus estimate. However, the communication company's revenue of $1.26 billion fell short of the expected $1.30 billion. Note that the company also reaffirmed its full-year 2013 earnings and revenue guidance.

New Oriental Education & Technology (EDU 16.69, 0.00) also reported its quarterly results. During the first quarter, the for-profit education provider earned $0.65 which was $0.10 worse than the Capital IQ consensus estimate. The company's revenue of $335.8 million also fell short of analyst expectations. Lastly, the company issued downside second quarter guidance.

Looking at today's economic data, September personal income, personal spending, and core PCE prices will all be released at 8:30 ET.

06:32 am : Nikkei...8929.34...-3.70...0.00. Hang Seng...21511.05...-34.50...-0.20%.

06:32 am : FTSE...5770.91...-35.80...-0.60%. DAX...7178.65...-53.20...-0.70%.

06:30 am : S&P futures vs fair value: -8.50. Nasdaq futures vs fair value: -20.50.

Special thanks to Bloomberg, CNNMoney, Reuters 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 and http://stocktwits.com/wrbtrader

http://www.thestrategylab.com
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