TraderSmarts Numbers for the YM Emini Futures - Tuesday December 1, 2009

Support becomes resistance and vice versa...

10352, 10388, 10408, 10452, 10531 Resistance on the YM Emini Futures

10315, 10283, 10262, 10214, 10135, 10092, 10052 Supports

10330 Area is HUGE and can be viewed as a line in the sand.

Trade smart and trade well!

It is worth noting that we broke down from the exact 10468 level I mentioned on 10/25/09. See the last paragraph in this post: http://tradersmarts.blogspot.com/2009/11/updated-look-at-daily-chart-of-ym-emini.html

TraderSmarts Numbers for the YM Emini Futures - Monday November 30, 2009

Support becomes resistance and vice versa...

10334, 10349, 10365, 10408, 10452, 10531Resistance on the YM Emini Futures

10296, 10266, 10214, 10135, 10092, 10052 Supports

Trade smart and trade well!

It is worth noting that we broke down from the exact 10468 level I mentioned on 10/25/09. See the last paragraph in this post: http://tradersmarts.blogspot.com/2009/11/updated-look-at-daily-chart-of-ym-emini.html

TraderSmarts Numbers for the YM Emini Futures - Friday November 27th 2009

Support becomes resistance and vice versa...

10234, 10267, 10338, 10415, 10450 Resistance on the YM Emini Futures

10177, 10092, 10052, 10008 Supports

Trade smart and trade well!

It is worth noting that we broke down from the exact 10468 level I mentioned on 10/25/09. See the last paragraph in this post: http://tradersmarts.blogspot.com/2009/11/updated-look-at-daily-chart-of-ym-emini.html

TraderSmarts Numbers for the YM Emini Futures

Support becomes resistance and vice versa...

10437, 10471, 10531, 10582 Resistance on the YM Emini Futures

10421, 10398, 10362, 10286, 10203 Supports

Trade smart and trade well!

TraderSmarts Numbers for the YM Emini Futures - Tuesday November 24, 2009

Support becomes resistance and vice versa...

10403, (10426 - 10439), 10471, 10531 Resistance on the YM Emini Future

10383, 10366, 10338, 10297, 10272, 10246, 10203, 10177 Supports

Trade smart and trade well

TraderSmarts Numbers for the YM Emini Futures - Monday November 23, 2009

Support becomes resistance and vice versa...

10366, 10383, 10397, 10454, 10531 Resistance on the YM Emini Futures

10326, 10301, 10286, 10273, 10252, 10203, 10177 Supports

Trade smart and trade well!

TraderSmarts Numbers for the YM Emini Futures - Friday November 20, 2009

Support becomes resistance and vice versa...

10329, 10365, 10377, 10383, 10454 Resistance on the YM Emini Futures

10286, 10255, 10234, 10195 Supports

Trade smart and trade well!

TraderSmarts Numbers for the YM Emini Futures - Thursday November 19, 2009

Support becomes resistance and vice versa...

10383, 10406, 10454, 10493, 10515 Resistance on the YM Emini Futures

10377, 10344, 10305, 10266, 10234 Supports

Trade smart and trade well!

TraderSmarts Numbers for the YM Emini Futures - Wednesday November 18, 2009

Support becomes resistance and vice versa...

10383, 10410, 10434, 10454, 10493 Resistance on the YM Emini Futures

10335, 10277, 10235 Supports

Trade smart and trade well!

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TraderSmarts Numbers for the YM Emini Futures - Tuesday November 17, 2009

Support becomes resistance and vice versa...

10368, 10383, 10422, 10454 Resistance on the YM Emini Futures

10338, 10305, 10264, 10247, 10213, 10174 Supports

Trade smart and trade well!

Updated: A Look at the Daily Chart of the YM Emini Futures - 11/16/2009

On October 25th I wrote a blog post detailing my thoughts on the big pic. We have reached one of the two key areas I was focusing on for a major CIT. I am intently watching the current price area for signs of an imminent CIT. It may or may not happen here. Above is the updated chart of what price action has done since the October 25th blog post and below is the orignal post and chart intact.

FROM OCTOBER 25, 2009:


We are experiencing what could be described as topping action in the major indices. As I mentioned in a tweet on Friday we have had 3 months of negative divergence on the daily chart. I wouldn't be surprised to see the Dow make a swift drop down to about 9500 from here and then one final push to new highs around the 10468 area before doing the final CIT (change in trend) and heading back towards the March 2009 lows. I have been calling for 10313 - 10625 for some time now and I still think that this area, at a minimum, will be tested before we finally roll over. This is the overall price action I see playing out in the longer term.

Keep in mind that money in trading is made not by being right in your predictions but by being on the right side of the price action. This is just what I see happening. It could or could not happen. I will not try to force my will on the market. The best traders I know don't care what the market is going to do...they just know what THEY are going to do if the market does A or if the market does B. Much better to be prepared to act on what the market does than to try to predict what it is going to do. All that being said the above is my forecast of how I see price action playing out from here.

Note: The black line on the chart is the OVERALL price direction I am anticipating. I do not think we will go straight down like the black line in the chart. Obviously price will ebb and flow, the main point is that the 10313 - 10625 price area should be touched to the upside before we have a major CIT. By major CIT I mean that once price reaches this major CIT area the march lows should be in play before any new highs.

The other area I have been keying on for a major CIT is 11250 - 11875. So, in conclusion, I will be expecting a rather fast move down to 9500 or so from here, then a move back to 10468 or so. Once we are at the 10468 area I will reassess the situation and most likely either anticipate a major CIT is in the works or be on the lookout for 11250 - 11875 as the major CIT area and then a move back towards the March 2009 lows.

TraderSmarts Numbers for the YM Emini Futures - Monday November 16, 2009

Support becomes resistance and vice versa...

10338, 10383, 10422 Resistance on the YM Emini Futures

10247, 10213, 10174, 10123, 10110 Supports

Trade smart and trade well!

TraderSmarts Numbers for the YM Emini Futures - Friday November 13, 2009

Support becomes resistance and vice versa...

10223, 10283, 10338, 10394 Resistance on the YM Emini Futures

10186, 10175, 10137, 10105, 10008 Supports

Trade smart and trade well!

Sorry I forgot to post here this morning. Please subscribe to ensure TraderSmarts Numbers for the YM, ES, and GC before the market opens everyday.

TraderSmarts Numbers for the YM Emini Futures - Thursday Novermber 12, 2009

Support becomes resistance and vice versa...

10240, 10264, 10298, 10353, 10394 Resistance on the YM Emini Futures

10220, 10193, 10163, 10139, 10081, 10033 Supports

Trade smart and trade well!

Scott Lui - I will never forget you friend

A good friend passed on Friday and the funeral was Tuesday. I didn't feel like trading or doing the TraderSmarts Numbers the past couple days and so I didn't. My friend left behind a wife and two young twin daughters who will turn two in December. Scott was the most genuine guy you could ever meet with a hilarious sense of humor. He will be greatly missed. Please keep his wife and twin girls in your prayers.

TraderSmarts Numbers for the YM Emini Futures - Monday November 9, 2009

Support becomes resistance and vice versa...

10052, 10114, 10194 Resistance on the YM Emini Futures

10007, 9968, 9916, 9870, 9765 Supports

Trade smart and trade well!

TraderSmarts Numbers for the YM Emini Futures - Friday November 6, 2007

Support becomes resistance and vice versa...

9938, 9963, 9980, 10059, 10114 Resistance on the YM Emini Futures

9918, 9869, 9805, 9739, 9640, 9494 Supports

Trade smart and trade well!

TraderSmarts Numbers for the YM Emini Futures - Thursday November 5, 2009

Support becomes resistance and vice versa...

9750, 9814, 9850, 9871 Resistance on the YM Emini Futures

9738, 9699, 9640, 9606, 9555, 9446 Supports

Trade smart and trade well!

Gold Contract - GC

How many swing traders do we have here?

Just wondering if anybody caught the move in GC from the successful test of 1030 to the 1093 target I have been mentioning since October 6th? The move happened FAST.

From the low (test of 1030) on 10/28 - 10/29 to the 1093 target hit today 11/4 - this move happened in 6 trading days. 63 points in the GC available for the taking. Who got it?

As always trade smart and trade well!

TraderSmarts

TraderSmarts Numbers for the YM Emini Futures - Wednesday 11/4/2009

Support becomes resistance and vice versa...

9765, 9794, 9855, 9880, 9960 Resistance on the YM Emini Futures

9739, 9710, 9678, 9654, 9606, 9555, 9425 Supports

Trade smart and trade well!

TraderSmarts Numbers for the YM Emini Futures - Tuesday 11/3/2009

Support becomes resistance and vice versa...

9766, 9794, 9832, 9880, 9960 Resistance on the YM Emini Futures

9724, 9696, 9664, 9640, 9606, 9555, 9468, 9412 Supports

Trade smart and trade well!

TraderSmarts Numbers for the YM Emini Futures - Monday 11/2/2009

Support becomes resistance and vice versa...

9710, 9764, (9783, 9794), 9818 Resistance on the YM Emini Futures

9664, (9632 - 9626), 9577, 9495 Supports

Trade smarts and trade well!