TraderSmarts Numbers for the YM & Example of How I View the Market - Thursday July 22, 2010

Support becomes resistance and vice versa...

10177, 10212, 10242, 10293*, 10319, 10365, 10451 Resistance on the YM Emini Futures

10153, 10141, 10116*, 10104, 10080, 10023, 9962, 9918, 9864*, 9829*

Trade smart and trade well!

YM: Don't be overwhelmed by the amount of TS #'s. I am leaving a lot of them on that probably won't hit on the day for a reason. Anyway 10116 is Huge for Thursday. Consider it a line in the sand on the day. Expecting occilations around 10116 until we find direction. Over and holding and potential for short squeeze and under and holding and potential for long squeeze. Highest odds short FTU is still 10293. Highest odds long FTD is the 9864 - 9829 zone.

I thought it would be good to try and "break down" how I use the TraderSmarts Numbers and how I "view" the market. Hopefully this helps some of you.

Above is how I post them. Below is MY breakdown. See you may view the market different and I try not to impose MY view on Subscribers. It is perfectly logical and realistic to make money with the TS #'s within your OWN market context. Anyway below is my context just so you get an idea of how I think...

(10451) High extreme and a huge and area price hasn't traded at for a month. If hits will be looking for divergence from the most recent swing high (10367) for a short.

(10365, 10319, 10293*, 10242) Area price hasn't trade at in a few days. Most likely will be selling longs and looking for shorts if price can move into this area, especially the 10293 and higher.

(10212, 10177) Area that has been recently traded yet has acted as resistance. The initial resistance zone on the way up.

(10153, 10141, 10116, 10104*, 10080, 10023) Area price has spent the majority of the recent time in. 10116 the Line in the Sand. Whichever side of 10116 price resolves on can get a move going in that direction. This is the most difficult area for new traders to trade. There is a lot of infighting in this area.

(9962) Price hit this as a low extreme most recently.

(9918, 9864, 9829) Low extremes. Will be looking to long this area especially the 9864 - 9829 if price can make it this low.

Hope this was informative!