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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
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 Post subject: July 27th Monday 2009
PostPosted: Fri Jul 31, 2009 2:40 am 
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I'm on vacation July 25th Saturday to July 30th Thursday...back to trading on July 31st Friday. However, posted below is the key WRB price action, direct link to the #FuturesTrades chat log where professional traders posted their trades in real-time and today's market summary from CNNMoney.com

Key WRB Price Action

2min Regular Session Chart - Take a look at the interval that closed @ 1012am est and then measure it's body against each of the prior three bodies.

It is a key change in supply/demand that provided resistance for the mid-day price action along with being a Short signal itself @ 1012am est.

To freely learn more about the basics of WRB Analysis...just join this forum and start asking questions or you can learn the advance WRB Analysis info via the fee-base resource links posted below.

FYI - The above discussion is about one key WRB price action even though there were other key WRB price actions that occurred during the trading day that could be used to confirm entry signals, exit signals, profit targets et cetera.

Simply, knowledge of different types of key WRB's is what results in a complete understanding of the price action being traded as it is occurring in real-time.


http://www.thestrategylab.com/WRBAnalysisTutorials.htm

http://www.thestrategylab.com/TradeStrategies.htm

Although I'm on vacation, you can still read today's trades that were posted in real-time in #FuturesTrades chat room by professional traders from entry to exit along with commentary and an occasional trading tip because its all archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=61&t=258

My Trading Performance: 0.00 Emini ES points (no trades due to vacation)

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Stocks Muster Gains
Wall Street ends a volatile session with a modest advance as investors mull the latest profit reports. New home sales beat forecasts.
By Alexandra Twin, CNNMoney.com senior writer
Last Updated: July 27, 2009: 5:44 PM ET

NEW YORK (CNNMoney.com) -- Stocks ended higher Monday, at the end of a choppy session on Wall Street in which investors weighed better-than-expected results with some wariness after a two-week rally.

The Dow Jones industrial average (INDU) added 15 points, or 0.2%. The S&P 500 (SPX) index climbed 3 points, or 0.3%. The Nasdaq composite (COMP) gained 2 points, or 0.1%.

In the last two weeks, the Dow and S&P 500 have both gained more than 11% as investors welcomed better-than-expected results. After such an advance, stocks were mixed Monday.

Worries about the economy in the wake of a dour June jobs report dragged on stocks in early July, with investors betting that second-quarter results would disappoint, said Ron Kiddoo, chief investment officer at Cozad Asset Management. But the reports so far have been largely better than expected and stocks have rallied in response.

"Even if it's mostly just cost cutting that's driving the earnings, people are relieved," Kiddoo said.

So far, reported earnings are beating expectations by 77% versus the long-term average of 61%, according to earnings tracker Thomson Reuters. But only a little more than one-third of the S&P 500 companies have reported so far. This week brings the biggest batch of corporate results yet, with 146 of the S&P 500 companies due to release results.

A better-than-expected new home sales report seemed to have little impact on the broad market, although it did lift housing stocks, with the Philly Housing index climbing 2%.

"We've had a terrific rally, so it's not surprising that we're not seeing a big reaction to the housing number," said Michael Church, president at Addison Capital.

He said that, looking forward, the stock market can probably keep grinding higher, and that the economic data will continue to support that move.

Tuesday brings the July reading on consumer confidence from the Conference Board and the S&P/Case-Shiller Home Price index

Corporate results: Monday brought quarterly results from a number of companies, including Dow component Verizon Communications (VZ, Fortune 500).

Verizon reported weaker earnings and stronger revenue, both of which were in line with estimates. But the telecom also said it was cutting 8,000 jobs in its wireline business, due to the impact of the recession.

Shares of the Dow component fell 1.6%.

Honeywell (HON, Fortune 500) reported weaker earnings that met estimates and weaker revenue that missed estimates. The aerospace and transportation manufacturing giant also warned that 2009 earnings and sales will come in at the low end of its previous forecast. Shares ended the day modestly higher.

RadioShack (RSH) reported higher quarterly earnings that topped estimates, thanks to lower costs and better sales of netbooks, prepaid wireless handsets and digital televisions. However, investors took a "sell the news" approach, sending shares 6.6% lower.

Aetna (AET, Fortune 500) said its profit slumped due to higher medical expenses. The health insurer reported weaker earnings that missed estimates on higher revenue that topped estimates. Aetna also cut its 2009 profit forecast. Shares fell 2.7%.

Other movers: A variety of bank shares rose, including Wells Fargo (WFC, Fortune 500) and Dow component Bank of America (BAC, Fortune 500). Regional banks surged too, including KeyCorp (KEY, Fortune 500), Regions Financial (RF, Fortune 500) and Fifth Third Bancorp (FITB, Fortune 500).

The KBW Banking (BKX) index rallied 3.1%.

Market breadth was positive. On the New York Stock Exchange, winners beat losers by almost two to one on volume of 1.04 billion shares. On the Nasdaq, advancers beat decliners five to four on volume of 2.16 billion shares.

Economy: New home sales in June rose to a 384,000 unit annual rate from a revised 346,000 unit annual rate in May. Economists surveyed by Briefing.com expected 352,000. However, sales fell 28% versus a year ago. (Full story)

Reports are due later this week on durable goods orders, jobless claims, manufacturing and GDP.

Economists expect that second-quarter GDP shrank at a 1.5% annualized rate after shrinking at a 5.5% annualized rate in the first quarter.

Bonds: Treasury prices slipped, raising the yield on the benchmark 10-year note to 3.72% from 3.66% late Friday. Treasury prices and yields move in opposite directions.

Other markets: In global trading, European and Asian markets ended higher.

In currency trading, the dollar fell against the euro and gained against the Japanese yen.

U.S. light crude oil for September delivery rose 33 cents to settle at $68.38 a barrel on the New York Mercantile Exchange.

COMEX gold for August delivery rose 40 cents to settle at $954.20 an ounce.

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