TheStrategyLab.com Price Action Trading Support Forum

Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Business Hours: 8am - 5pm est (Mon - Fri)
questions@thestrategylab.com (24/7)
http://twitter.com/wrbtrader (24/7)


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

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $200.00 dollars or +2.00 points, Emini ES ($ES_F) futures @ $0.00 dollars or +00.00 points, Light Crude Oil CL ($CL_F) futures @ $0.00 dollars or +0.00 points, Gold GC ($GC_F) futures @ $0.00 dollars or +0.00 points and EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks. Total Profit @ $200.00 dollars

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
Light Crude Oil CL (WTI) Futures: 1 tick or 0.01 = $10.00 dollars and there's more contract information @ CMEGroup
Gold GC Futures: 1 tick or 0.10 = $10.00 dollars and there's more contract information @ CMEGroup
EuroFX 6E Futures: 1 tick or 0.0001 = $12.50 dollars and there's more contract information @ CMEGroup

Trade Log: All of my trades were posted real-time in the timestamp ##TheStrategyLab chat room. You can read today's price action trading information about my trades (e.g. time, price entry, contract size, price exit) as the trade traversed to its completion. Also, sometimes I'll post real-time trading tips involving WRBs, WRB Hidden GAPs, Key Market Events (KME), Tutorial Chapters 2 & 3, WRB Zones, Reaction Highs/Lows, Contracting Volatility or Expanding Volatility. Its all archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=136&t=1932


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 and position trade. Simply, my trade method is applicable for position trading, swing trading and day trading.

##TheStrategyLab Chat Room is free. Members and I use the chat room to post WRB Analysis commentary, real-time trades and to post anything else related to trading. The chat room helps me tremendously in my own trading because I use it to document (journal) general volatility analysis involving WRB Analysis so that I can easily review at a later date my thoughts as I interacted with the markets...info I can not get from my broker statements. Also, this is not a signal calling chat room where a head trader tells you when to buy or sell and I do not have the time/energy/resources to manage a signal calling chat room. Access instructions for chat room @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164

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

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 (answering your questions) prior to purchasing the Volatility Trading Report (VTR).

Trading Plan Daily Routine @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=250&t=2561

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Market Context Summaries

The below summaries by Bloomberg, CNNMoney, Reuters and Yahoo! Finance helps me to do a quick review of the fundamentals, FED/ECB/BOE/IMF actions or any important global economic events (e.g. Eurozone, MarketWatch.com) that had an impact on today's price action in many trading instruments I monitor during the trading day. 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, intermarket analysis (e.g. Forex EurUsd, EuroFX 6E futures, Gold GC futures, Light Crude Oil (WTI) CL & Brent Oil futures, Eurex DAX futures, Euronext FTSE100 futures, Emini ES futures, Emini TF futures, Treasury ZB futures and U.S. Dollar Index futures) while using WRB Analysis from one trade to the next trade to give me the market context for price action trading 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 trade decisions (day trading, swing trading, position trading)...something I can not get from my broker statements alone. Further, most financial websites remove (delete) their archives after a few years to make room for new content. Therefore, I maintain my own archives of the news content so that I have it available for me when financial websites no longer archives their content.


click on the above image to view today's price action of key markets

Tue, Nov 11, 2014, 11:41pm EST - US Markets are closed

4:10 pm: [BRIEFING.COM] The major averages ended the Tuesday session on a flat note after spending the trading day near their unchanged levels. The S&P 500 added 0.1% after maintaining a five-point range throughout the day.

Today's trading volume (600 million shares at NYSE) represented the lowest total since early September, but the subdued participation was understandable since the bond market was closed for Veterans Day. The European session had a similar feel with some investors away for Armistice Day. Elsewhere, Japan's Nikkei spiked 2.0% after Reuters reported Prime Minister Shinzo Abe is likely to push back the next sales tax increase and may call for a snap election. The news weighed on the yen, sending the dollar/yen pair into the 116.00 area, but intraday dollar weakness resulted in a pullback below 115.50.

The modest 0.3% retreat in the Dollar Index (87.54, -0.27) helped crude oil ($77.83, +0.43) to a gain of 0.6% while the energy sector (+0.3%) ended the session near its high after showing opening weakness.

Meanwhile, the remaining cyclical sectors ended mixed. Financials (-0.2%), and industrials (-0.1%) lagged while consumer discretionary (+0.4%), technology (+0.1%), and materials (+0.5%) registered gains.

Industrials kept pace with the market early on, but slumped alongside General Electric (GE 26.38, -0.09). The top-weighted sector component lost 0.3% while transport stocks also underperformed. The Dow Jones Transportation Average shed 0.1%.

On the upside, the materials sector received support from miners as Market Vectors Gold Miners ETF (GDX 18.22, +0.77) rallied 4.4%. The smallest cyclical sector by weight climbed ahead of the health care (+0.4%), which started in the lead, but retreated from its early high.

Unlike health care, the other countercyclical groups ended in the red. The utilities sector (-0.4%) was the weakest performer while consumer staples (-0.2%) and telecom services (-0.1%) settled closer to their flat lines.

Participants did not receive any economic data today and tomorrow's economic news will be limited to the 7:00 ET release of the MBA Mortgage Index and the Wholesale Inventories report for September (Briefing.com consensus 0.2%), which will be released at 10:00 ET.

Nasdaq Composite +11.6% YTD
S&P 500 +10.4% YTD
Dow Jones Industrial Average +6.3% YTD
Russell 2000 +1.5% YTD

3:40 pm: [BRIEFING.COM]

Crude's LoD of 76.42 was reached in overnight trading, but those levels were tested again around the lunch hour.
However, futures took a leg higher shortly after and ended today's session at $77.87/barrel.
Natural gas also found a session bottom in overnight trading, hitting a LoD of 4.121 before trended higher.
Dec gold rose $3.30 (+0.3%) to $1163.10/oz Dec silver rose 2.9 cents (+0.2%) to $15.70/oz Copper rose 1.1 cents (+0.4%) to $3.031/lb

3:00 pm: [BRIEFING.COM] The S&P 500 (-0.1%) sits within a point of its flat line with one hour remaining in the y session. If the benchmark index ends the day near its current level, it will maintain its 1.0% gain so far in November.

Investors will receive a few quarterly reports after today's close with Fossil (FOSL 103.57, +0.35) as the lone representative from the S&P 500. Tomorrow, three S&P 500 components-ADT (ADT 35.42, -1.43), Macy's (M 58.76, -0.50), and Rockwell Automation (ROK 112.53, -0.22)-will report their results ahead of the opening bell.

2:30 pm: [BRIEFING.COM] Quiet action continues with the S&P 500 sitting near its flat line. Meanwhile, the Dollar Index (87.39, -0.42) has dropped to a new session low. The Index notched a high just after 5:00 ET this morning and has retreated steadily since then.

The dollar held a solid gain against the yen this morning, but the dollar/yen pair has retraced the bulk of that advance. The pair hovers near 115.25 after touching the 116.00 level in the early morning. Elsewhere, the British pound has fueled some of the intraday dollar weakness with GBP/USD pulling away from its lowest level since September 2013. The pair trades at 1.5936 after ending yesterday near 1.5842.

1:55 pm: [BRIEFING.COM] The S&P 500 (-0.1%) remains just below its flat line after marking a fresh afternoon low.

Sector standing hasn't changed much, but the leading group-health care-has narrowed its gain to just 0.3%. The countercyclical sector has been stuck in a steady downtrend since notching a session high just after 11:00 ET. Meanwhile, the remaining three defensively-oriented groups have extended their losses. The utilities sector is now down 0.6% while consumer staples and telecom services are both down near 0.3%.

Investors have continued showing interest in volatility protection, sending the CBOE Volatility Index (VIX 13.15, +0.48) to a new high for the day.

1:30 pm: [BRIEFING.COM] The major indices continue to sport modest losses in a trading session that has lacked conviction. There is some evidence, though, that the recent rally effort may be set for a pause or even a notable pullback.

Alibaba Group (BABA 114.95, -4.20) shared impressive news today, noting that it sold $9.3 billion worth of goods in its 24-hour online sales event dubbed Singles Day (a euphemism for the shorthand presentation of November 11, which is represented as four ones: 1111), yet its stock is down 3.5% following a 40% rally from its mid-October low.

It is the vintage "sell-the-news" response. If BABA continues to bleed in the coming week, it wouldn't be a surprise to see other stocks bleed, too, on participants' recognition that BABA's leadership run is running into profit-taking resistance.

Also seeing some weakness in the utilities sector (-0.7%) today, which led all sectors with a 10.2% gain since the start of the quarter entering today's trading.

1:00 pm: [BRIEFING.COM] The major averages are little changed at midday with the S&P 500 having spent the first half in a six-point range. The range-bound action speaks to today's below-average participation, which is understandable considering the bond market is closed for Veterans Day.

The European session was also quiet with some participants away for Armistice Day while Japan's Nikkei (+2.0%) stood out in Asia. The index soared after Reuters reported Prime Minister Shinzo Abe is likely to push back the next sales tax increase. The report also indicated Mr. Abe may call for a snap election. The news weighed on the yen, sending the dollar/yen pair into the 116 area before pulling back.

For the second day in a row, the health care sector (+0.4%) leads amid strength in biotechnology with the iShares Nasdaq Biotechnology ETF (IBB 296.68, +1.48) trading higher by 0.5%. However, unlike yesterday, the remaining countercyclical sectors trail the broader market.

Meanwhile, the cyclical side has not fared much better. Consumer discretionary (+0.2%) and materials (+0.3%) trade ahead of the broader market, but their gains have been outweighed by losses among industrials (-0.3%), energy (-0.1%), and technology (-0.1%).

The industrial sector slumped to lows during the past hour with the top-weighted sector component, General Electric (GE 26.29, -0.18), leading the retreat. Currently, the stock is lower by 0.7%.

Also of note, the energy sector has alternated between gains and losses, but now trades just ahead of industrials. Like the sector, crude oil has been volatile and is currently flat at $77.38/bbl.

Investors did not receive any notable economic data today.

12:30 pm: [BRIEFING.COM] The key indices remain near their flat lines with three sectors holding gains. The S&P 500 has dipped into the red in a move that saw the industrial sector (-0.3%) slide to a new low for the day. The cyclical group had shown strength in the early going, but has retreated amid weakness in the shares of General Electric (GE 26.26, -0.20). The largest sector component trades lower by 0.8%.

Transport stocks are also exerting some pressure on the sector as the Dow Jones Transportation Average trades lower by 0.1% with 12 of its 20 components in negative territory.

Although today's session has been very quiet, some participants have used the opportunity to increase their hedges. The CBOE Volatility Index (12.99, +0.32) hovers just below the 13.00% level.

11:55 am: [BRIEFING.COM] Recent action saw the S&P 500 return to its flat line, surrendering its two-point gain. In general, today's session has been very quiet, but the energy sector (-0.5%) has endured a rollercoaster ride. The growth-sensitive group was down 0.6% at the start of the session, but recovered its initial decline during the first hour of action. Unable to hold in the green, the sector has marked a fresh low recently.

Meanwhile, crude oil started the session little changed, but has dropped to a fresh low within the past few minutes. The energy component is lower by 1.0% at $76.65/bbl while the modest decline in the Dollar Index (-0.1%) has not provided a meaningful boost to the commodity.

11:25 am: [BRIEFING.COM] Equity indices remain near their recent levels with the health care sector (+0.7%) maintaining the lead. Although equities have not moved much since our last update, the Dollar Index (87.77, -0.04) has been a bit more active.

The Dollar Index (-0.1%) has ticked down to a fresh low in a move that saw the euro (1.2440) and the pound (1.5877) extend to new highs against the greenback. However, the dollar continues holding a solid gain against the yen as the pair trades within 30 pips of the overnight high at 116.12.

11:00 am: [BRIEFING.COM] The major averages have erased their early losses, but the S&P 500 (+0.1%) continues trading within a couple points of its flat line.

With the index hovering near its unchanged level, five sectors display gains while five remain in the red. The health care sector (+0.5%) leads for the second consecutive day with biotechnology (IBB +0.5%) contributing to the strength once again. However, unlike yesterday, the remaining defensively-oriented sectors trail the broader market.

Elsewhere, the materials sector (+0.5%) follows just behind health care, but the group represents fewer than 4.0% of the entire market so its impact is negligible. Outside of materials, consumer discretionary (+0.3%) and industrials (+0.2%) also sport modest gains. Together, the two sectors account for more than 23.0% of the S&P 500.

10:35 am: [BRIEFING.COM]

Commodities are trading mostly lower this morning, while the dollar index is about 0.1% higher
Gold, silver and copper futures have been in the red all day
Gold has been climbing off of overnight lows, albeit at a slow pace
In current action, Dec gold is -0.4% at $1155.20/oz, Dec silver is -0.8% at $15.56/oz and Dec copper -0.5% at $3.00/lb
Energy futures have all been lower this morning as well (oil, natural gas, heating oil and RBOB gasoline futures)
Dec crude oil is currently -0.1% at $77.36/barrel, Dec natural gas is -1.3% at $4.20/MMBtu

10:00 am: [BRIEFING.COM] Equity indices continue hovering just below their flat lines, but a handful of sectors have been able to return into positive territory.

In addition to the health care sector (+0.1%), which has shown strength from the start, materials (+0.3%), and utilities (+0.1%) also trade in the green. Meanwhile, the energy sector was down near 0.6% in the early going, but has spiked back to its flat line even though crude has added to its loss, trading lower by 0.3% at $77.17/bbl.

9:40 am: [BRIEFING.COM] Equity indices have slipped from their opening highs with the Russell 2000 (-0.3%) leading the market lower. Meanwhile, the S&P 500 (-0.1%) hovers closer to its flat line with nine sectors showing losses.

The energy sector (-0.6%) is the weakest performer after ending yesterday's session at the bottom of the leaderboard. For its part, crude oil held a slim gain during the past hour, but is now lower by 0.2% at $77.28/bbl. Outside of energy, the remaining cyclical sectors trade within 0.2% of their flat lines.

On the upside, the health care sector (+0.2%) holds a modest gain with biotechnology contributing to the early strength. The iShares Nasdaq Biotechnology ETF (IBB 296.12, +0.92) is higher by 0.3%.

9:14 am: [BRIEFING.COM] S&P futures vs fair value: +1.20. Nasdaq futures vs fair value: +1.20. The stock market is on track for a modestly higher open as futures on the S&P 500 trade one point above fair value. The current standing puts futures near the bottom of their overnight five-point range.

The range-bound action was a reflection of a quiet overnight session that saw the Nikkei (+2.1%) outperform after Reuters reported Prime Minister Shinzo Abe is likely to push back the next sales tax increase and may call for a snap election. The news pressured the yen, sending the dollar/yen pair to 116.00 before pulling back.

The dollar/yen pair has backed away from its high and currently hovers near 115.70; however, the dollar has not shown strength against other currencies. The euro (+10 pips) and the pound (+30 pips) hold modest gains against the greenback while the Dollar Index (87.82, 0.00) sits on its flat line.

Investors did not receive any economic data of note this morning and the bond market is closed for Veterans Day, which could lead to below-average trading volume.

On the corporate front, Rackspace (RAX 39.70, +2.38) holds a pre-market gain of 6.4% after beating by a penny and announcing a $500 million buyback. On the flip side, DR Horton (DHI 23.04, -0.39) is on track to open lower by 1.7% after reporting in-line revenue on earnings that may not compare with estimates due to inventory and land option charges.

8:59 am: [BRIEFING.COM] S&P futures vs fair value: +1.80. Nasdaq futures vs fair value: +2.70. The S&P 500 futures trade two points above fair value.

Asian markets ended the day on a mixed note with Japan's Nikkei (+2.1%) finishing in the lead after Reuters reported Prime Minister Shinzo Abe is likely to push back the next sales tax increase. The reports also indicated the prime minister may call for a snap election. The news weighed on the yen, sending the dollar/yen pair into the 116 area.

In economic data:
Japan's current account surplus expanded to JPY963 billion from JPY287 billion (expected surplus of JPY534 billion). Separately, Household Confidence slipped to 38.9 from 39.9 (expected 40.6), Economy Watchers Current Index fell to 44.0 from 47.4 (consensus 49.2), and Machine Tool Orders increased 31.2% year-over-year (prior 34.7%)
Australia's NAB Business Confidence ticked down to 4 from 5 while the House Price Index increased 1.5% quarter-over-quarter (expected 1.6%; prior 1.9%)
New Zealand's Electronic Card Retail Sales rose 1.0% month-over-month (consensus 0.5%; prior -0.1%)

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Japan's Nikkei jumped 2.1% to settle on its high. Industrial names ended among the leaders with Chiyoda and JGC climbing 7.6% and 5.1%, respectively.
Hong Kong's Hang Seng added 0.3%, but slipped from highs into the close Lenovo ended in the lead, climbing 3.2%, while gaming names also outperformed. Galaxy Entertainment and Sands China both rose near 2.5%.
China's Shanghai Composite surrendered its gain ahead of the close to end lower by 0.2%. Bank of China spiked 10.0% while Hangzhou Iron & Steel lost 9.5%.
India's Sensex settled just above its flat line. Tata Steel gained 2.0% and Reliance Industries rose 0.9%. Bharat Heavy Electrical was the weakest performer, falling 2.2%.

Major European indices trade higher across the board with Spain's IBEX (+0.9%) in the lead. Investors did not receive any notable economic data and action has been subdued with some away for Armistice Day. In news, European Central Bank board member Yves Mersch said purchases of asset-backed securities will begin next week.

Great Britain's FTSE is higher by 0.1% with consumer names showing strength. J Sainsbury, EasyJet, and Carnival are up between 1.3% and 2.7%. Energy names lag with Tullow Oil down 4.9%.
Germany's DAX has added 0.2% amid strength in defensively-oriented names. Deutsche Post, Deutsche Telekom, and RWE hold gains between 0.6% and 2.8%. Daimler is among the laggards, down 1.0%.
In France, the CAC trades up 0.5%. Telecom provider Orange leads with a gain of 4.2%. On the downside, Total and Technip hold respective losses of 1.3% and 2.3%.
Spain's IBEX outperforms with a gain of 0.9%. Bankinter, Bankia, and BBVA are up between 1.1% and 2.6%.

8:31 am: [BRIEFING.COM] S&P futures vs fair value: +2.90. Nasdaq futures vs fair value: +4.70. U.S. equity futures continue holding modest gains as they hover near their overnight highs. Meanwhile, the Dollar Index (87.81, 0.00) has recently dropped to its flat line after holding a modest gain throughout the night. The greenback remains higher against the yen (+65 pips), but has dipped into the red against the euro (-10 pips) and the pound (-20 pips).

7:56 am: [BRIEFING.COM] S&P futures vs fair value: +4.00. Nasdaq futures vs fair value: +6.70. U.S. equity futures trade modestly higher amid upbeat action overseas. The S&P 500 futures hover four points above fair value after spending the night in a five-point range.

Generally speaking, the overnight session was quiet, but Japan's Nikkei (+2.1%) stood out after it was reported that the next sales tax hike may be delayed. Meanwhile in Europe, action has been subdued with some away for Armistice Day.

Similarly, light volume during the U.S. session would not be all that surprising considering the bond market is closed for Veterans Day.

Investors did not receive any economic data today and earnings have been limited.

In U.S. corporate news of note:

DR Horton (DHI 23.25, -0.18): -0.8% after reporting in-line revenue on earnings that may not compare with estimates due to inventory and land option charges.
Qiwi (QIWI 33.05, +3.56): +12.1% after beating estimates and raising its guidance.

Reviewing overnight developments:

Asian markets ended mostly higher. China's Shanghai Composite -0.2%, Hong Kong's Hang Seng +0.3%, and Japan's Nikkei +2.1%
In economic data:
Japan's current account surplus expanded to JPY963 billion from JPY287 billion (expected surplus of JPY534 billion). Separately, Household Confidence slipped to 38.9 from 39.9 (expected 40.6), Economy Watchers Current Index fell to 44.0 from 47.4 (consensus 49.2), and Machine Tool Orders increased 31.2% year-over-year (prior 34.7%)
Australia's NAB Business Confidence ticked down to 4 from 5 while the House Price Index increased 1.5% quarter-over-quarter (expected 1.6%; prior 1.9%)
New Zealand's Electronic Card Retail Sales rose 1.0% month-over-month (consensus 0.5%; prior -0.1%)
In news:
Japan's Nikkei spiked after Reuters reported Prime Minister Shinzo Abe is likely to push back the next sales tax increase. The reports also indicated the prime minister may call for a snap election. The news weighed on the yen, sending the dollar/yen pair into the 116 area.

Major European indices trade higher across the board. Great Britain's FTSE +0.2%, Germany's DAX +0.4%, and France's CAC +0.7%. Elsewhere, Italy's MIB +1.3% and Spain's IBEX +1.4%
Investors did not receive any notable economic data
In news:
European Central Bank board member Yves Mersch said purchases of asset-backed securities will begin next week.

7:08 am: [BRIEFING.COM] S&P futures vs fair value: +2.00. Nasdaq futures vs fair value: +4.00.

7:08 am: [BRIEFING.COM] Nikkei...17,124.11...+343.60...+2.10%. Hang Seng...23,808.28...+63.60...+0.30%.

7:08 am: [BRIEFING.COM] FTSE...6,617.15...+6.10...+0.10%. DAX...9,373.17...+21.30...+0.20%.

Special thanks to Bloomberg, CNNMoney, Reuters and Yahoo! Finance for their market summaries.

Best Regards,
M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
@ http://twitter.com/wrbtrader @ http://stocktwits.com/wrbtrader

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