Support becomes resistance and vice versa...
10404, 10419, 10449, 10531 Resistance on the YM Emini Futures
10309, 10281, 10225, 10152 Supports
Trade smart and trade well!
It is worth noting that we broke down (Thanksgiving Dubai news) 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
As I have been saying the thing I am keying on now is what area is taken out first and held below or above. Downside at 10313 or upside at 10625. This will be a telling clue IMO as to probability of CIT.
Last week we took out 10313 to the downside. I mentioned in the Friday post: "We took out 10313 yesterday (Thursday) for the first time. I am on high alert for potential for things to get ugly fast. Keying on if we hold under 10313."
Then on Friday at the open of the cash session we made a pop to and then plunge from 10313 - The exact number I have been keying on. IMO this is VERY TELLING.
Now we are back above 10313. Will it hold?
No comments:
Post a Comment