TraderSmarts Subscriber Numbers for the YM, ES, 6E, & CL - Monday March 1, 2010

Here are your TraderSmarts Numbers for the YM, ES, 6E, and CL for Monday March 1, 2010

Support becomes resistance and vice versa...

TraderSmarts Numbers for the YM

10515*, 10464*, 10430, 10412, 10389, 10340, 10310, 10283*, 10215, 10162

TraderSmarts Numbers for the ES

1117.25, 1114.75, 1109.5, 1106, 1102.5, 1097.75, 1094, 1086.75, 1079.5

TraderSmarts Numbers for the 6E

1.3740*, 1.3733, 1.3687*, 1.3675, 1.3659, 1.3639, 1.3601, 1.3582*, 1.3540, 1.3492

TraderSmarts Numbers for the CL

82.7, 81.43, 81.18, 80.88, 79.97, 79.70, 79.5, 79, 78.66, 78.04, 77.17, 76.25

Trade smart and trade well!

In the 1/24/10 daily chart update I said: "I do not expect the YM to get back over 10566. I will be targeting 10309 - 10430 for swing shorts." The high FTU was 10434 and then we sold nicely down to a low of 10172 Thursday. I have been saying that while I still don't expect it back above 10566 I think the range is probably a little higher to look for swing shorts. I did get some short (small size relative) in my range but have felt a little left behind as we sold nicely from my original area without making the higher range I now expected. I would really like 10470 - 10560 area tagged.

YM: Expecting a move to the higher area I have been expecting 10470 - 10560. Swing Traders pay attention.

CL: We are in the 79.70 - 82.70 range mentioned many times. Pay attention.

6E: Betting against the "Career Trade". Looking for a CIT here. Needs a close over 1.3687 to confirm. If this fails I have another area - all I will say for now is it is above 1.3175.

New Polls on the blog. Scroll down to the bottom off the right side bar to cast your vote…

TraderSmarts Numbers for the YM Emini Futures - Friday February 26, 2010

Support becomes resistance and vice versa...

10395, 10430, 10464, 10515 Resistance on the YM Emini Futures

10318, 10286, 10243, 10215, 10195, 10158 Supports

Remember 10356 and 10260 – they are significant.

Trade smart and trade well!

In the 1/24/10 daily chart update I said: "I do not expect the YM to get back over 10566. I will be targeting 10309 - 10430 for swing shorts." The high FTU was 10434 and then we sold nicely down to a low of 10172 Thursday. I have been saying that while I still don't expect it back above 10566 I think the range is probably a little higher to look for swing shorts. I did get some short (small size relative) in my range but have felt a little left behind as we sold nicely from my original area without making the higher range I now expected. I would really like 10470 - 10560 area tagged. Anyway Friday closes out the monthly candle. Let's see what happens.

TraderSmarts Numbers for the YM Emini Futures - Thursday February 25, 2010

Support becomes resistance and vice versa...

10333, 10361, 10395, 10430, 10464 Resistance on the YM Emini Futures

10284, 10260, 10243, 10184 Supports

Trade smart and trade well!

In the 1/24/10 daily chart update I said: "I do not expect the YM to get back over 10566. I will be targeting 10309 - 10430 for swing shorts." Monday the YM made a high at 10434 and dumped NICELY to 10356. Tuesday the YM sold from the 10412 mentioned as the line in the sand for upside down through the 10356 and all the way to prior resistance turned support at 10260.

Have to admit though that I am feeling a little left behind by the selling right from the top of my key area mentioned in January. I did take some short in my range (10309 - 10430) but not nearly as much as I would have gotten if I wasn't now expecting a little higher. Obviously at this point it looks like I should have loaded up. Sometimes you just have to leave well enough alone - my original analysis has been spot on so far!

Trade smart and trade well!

TraderSmarts Numbers for the YM Emini Futures - Wednesday February 24, 2010

Support becomes resistance and vice versa...

10309, 10332, 10353, 10395, 10430, 10464 Resistance on the YM Emini Futures

10260, 10243, 10184 Supports

10353 is the line in the sand for upside. 10260 is the line in the sand for downside with 10243 confirmation.

In the 1/24/10 daily chart update I said: "I do not expect the YM to get back over 10566. I will be targeting 10309 - 10430 for swing shorts." Monday the YM made a high at 10434 and dumped NICELY to 10356. Tuesday the YM sold from the 10412 mentioned as the line in the sand for upside down through the 10356 and all the way to prior resistance turned support at 10260.

Have to admit though that I am feeling a little left behind by the selling right from the top of my key area mentioned in January. I did take some short in my range (10309 - 10430) but not nearly as much as I would have gotten if I wasn't now expecting a little higher. Obviously at this point it looks like I should have loaded up. Sometimes you just have to leave well enough alone - my original analysis has been spot on so far!

TraderSmarts Numbers for the YM Emini Futures - Tuesday February 23, 2010

Support becomes resistance and vice versa...

10395, 10412, 10430, 10447, 10464, 10515, 10560 Resistance on the YM Emini futures

10356, 10309, 10243, 10184 Supports

10412 is the line in the sand for upside. 10356 is the line in the sand for downside.

Trade smart and trade well!

In the 1/24/10 daily chart update I said: "I do not expect the YM to get back over 10566. I will be targeting 10309 - 10430 for swing shorts." Monday the YM made a high at 10434 and dumped NICELY to 10356. I still don't expect it back above 10566 but am thinking that the range is probably a little higher to look for swing shorts. My view that the high of the year has already been printed still stands.

We are in a KEY area. Trade accordingly. If you are a swing trader pay attention here - don't miss this.

TraderSmarts Numbers for the YM Emini Futures - Monday February 22, 2010

Support becomes resistance and vice versa...

10403, 10430, 10464, 10515, 10560 Resistance on the YM Emini futures

10356, 10271, 10243, 10198 Supports

Trade smart and trade well!

In the 1/24/10 daily chart update I said: "I do not expect the YM to get back over 10566. I will be targeting 10309 - 10430 for swing shorts." I still don't expect it back above 10566 but am thinking that the range is probably a little higher to look for swing shorts. My view that the high of the year has already been printed still stands.

TraderSmarts Numbers for the YM Emini Futures - Friday February 19, 2010

Support becomes resistance and vice versa...

10311, 10334, 10356, 10398, 10430 Resistance on the YM Emini Futures

10288, 10260, 10198, 10175, 10120 Supports

Trade smart and trade well!

YM: Expecting price to revisit the scene of the crime (FOMC A/H discount rate cut) which is 10370 or so. In the 1/24/10 daily chart update I said this: "I do not expect the YM to get back over 10566. I will be targeting 10309 – 10430 for swing shorts." I still don't expect it back above 10566 but am thinking that the range is probably a little higher to look for swing shorts. My view that the high of the year has already been printed still stands.

CL: Closed out the swing short on CL when 76.60 gave support for the 3rd time. Exit was 77.28 average price. Am targeting the 79.70 - 82.70 to try again. Still expecting an eventual 57.50 test.

From Thursday: CL: Continues to show strength - found support at 76.60 almost perfectly on Wednesday. Need a close under that Thursday or we might abandon the trade.

From Wednesday: CL: Have nearly a full position now (7/8) filled. Oil acting stronger than anticipated though the way it closed over 77 Tuesday. Need a close on the daily under 76.60 in the next two days and not a close over the previous high at 78.04. If CL can't get back under 76.60 and hold then anticipating a move up to 79.70 - 82.70. CL and YM look identical over the last few weeks - left shoulder and head of a potential inv h&s forming. If YM moves up to the area mentioned in the 1/24/2010 blog post for swing short (see above) then odds are CL goes to the 79.70 - 82.70 area. Either way expecting eventual 57.50 test on CL. Let's see what the next couple days bring.

TraderSmarts Numbers for the YM Emini Futures - Thursday February 18, 2010

Support becomes resistance and vice versa…

10296, 10309, 10356, 10398 Resistance on the YM Emini Futures

10276, 10260, 10198, 10175, 10120 Supports

Trade smart and trade well!

CL: Continues to show strength - found support at the key 76.60 mentioned below almost perfectly on Wednesday. Need a close under that Thursday or we might abandon the trade.

From Wednesday Update: CL: Have nearly a full position now (7/8) filled. Oil acting stronger than anticipated though the way it closed over 77 Tuesday. Need a close on the daily under 76.60 in the next two days and not a close over the previous high at 78.04. If CL can't get back under 76.60 and hold then anticipating a move up to 79.70 - 82.70. CL and YM look identical over the last few weeks - left shoulder and head of a potential inv h&s forming. If YM moves up to the area mentioned in the 1/24/2010 blog post for swing short then odds are CL goes to the 79.70 - 82.70 area. Either way expecting eventual 57.50 test on CL. Let's see what the next couple days bring.

EIA Petroleum today at 8 AM Pacific Time. Natty Gas 1/2 hour prior

TraderSmarts Numbers for the YM Emini Futures – Wednesday February 17, 2010

Support becomes resistance and vice versa…

10309, 10356, 10398 Resistance on the YM Emini Futures

10252, 10210, 10175, 10120, 10035 Supports

10266 is huge and has been big resistance.

Trade smart and trade well!

CL: Have nearly a full position now (7/8) filled. Oil acting stronger than anticipated though the way it closed over 77 Tuesday. Need a close on the daily under 76.60 in the next two days and not a close over the previous high at 78.04. If CL can't get back under 76.60 and hold then anticipating a move up to 79.70 - 82.70. CL and YM look identical over the last few weeks - left shoulder and head of a potential inv h&s forming. If YM moves up to the area mentioned in the 1/24/2010 blog post for swing short then odds are CL goes to the 79.70 - 82.70 area. Either way expecting an eventual 57.50 test on CL. Let's see what the next couple of days bring.

TraderSmarts Numbers for the YM – Tuesday February 16, 2010

Support becomes resistance and vice versa…

10120, 10157, 10198, 10242 Resistance on the YM Emini Futures

10085, 10035, 9988, 9924, 9887 Supports

Trade smart and trade well!

CL: Wanting 76.XX TraderSmarts Numbers on CL to hit to fill the rest of swing short position. Otherwise will only have 3/8 position. Expecting eventual 57.50 test on CL.

TraderSmarts Numbers for the YM and CL – Friday February 12, 2010

Support becomes resistance and vice versa…

10109, 10157, 10200, 10242 Resistance on the YM Emini Futures

10088, 10048, 9999, 9966, 9887 Supports

Trade smart and trade well!

CL: Oil is setting up for another swing short. As stated numerous times I plan to add back in to the current position in the 75/76 area. (Added 1/8 back on Thursday at 75.12) Want the 76 TraderSmarts Numbers to hit to add more and fill position. Expecting 57.50 to be tested on CL.

EIA Petroleum out at 8 AM PACIFIC TIME. Natty gas 1/2 hour before that.

Today I have decided to include the TraderSmarts Subscriber Numbers for the CL:

79.77, 79.21, 78.37, 77.17, 76.80, 76.48, 76.24, 75.58, 75.12, 73.03, 70.79

TraderSmarts Numbers for the YM Emini futures – Thursday February 11, 2010

Support becomes resistance and vice versa...

10065, 10109, 10157, 10242 Resistance on the YM Emini Futures

10027, 9985, 9966, 9945, 9925, 9887 Supports

Trade smart and trade well!

CL: Oil is setting up for another swing short. As stated numerous times I plan to add back in to the current position in the 75/76 area. Expecting 57.50 to be tested on CL

TraderSmarts Numbers will Resume on Thursday February 11, 2010

There will be no TraderSmarts Numbers for Wednesday February 10th, 2010. As long as I am feeling better, and I expect to be, they will resume on Thursday February 11, 2010.

CL: CL made a high of 74.15 Tuesday. As I have stated numerous times I'm expecting a move back to 75/76 to be a shortable area. Eventual target on CL is 57.50. This is all discussed in the previous subscriber updates and on the blog. Just scroll down from the main blog page to review, etc.

In the meantime - trade smart and trade well!

TraderSmarts Numbers for the YM Emini Futures - Tuesday February 9, 2010

Support becomes resistance and vice versa...

9966, 10068, 10122, 10191 Resistance on the YM Emini Futures

9925, 9898, 9866, 9846, 9750, 9727 Supports

Trade smart and trade well!

TraderSmarts Numbers for the YM Emini Futures – Monday February 8, 2010

Support becomes resistance and vice versa...

9959, 9978, 10068, 10122 Resistance on the YM Emini Futures

9906, 9866, 9846, 9750, 9727 Supports

Trade smart and trade well!

CL: In Friday's update on CL I said Anybody swing short oil from the 77/78 area look to take some off in the 72-70 area and add back in the 75-76 area to better cost basis. I covered another 1/4 of the CL position at 70.70 on Friday leaving me with 1/2 left swing short. I am done touching the trade until I either add back in higher or pair out the rest near the target of 57.50.

TraderSmarts Numbers for the YM Emini Futures - Friday February 5, 2010

Support becomes resistance and vice versa...

10022, 10044, 10109, 10190 Resistance on the YM Emini Futures

9991, 9926, 9906, 9848 Supports

Trade smart and trade well!

NFP Friday

CL: Anybody swing short oil from the 77/78 area please note I covered 1/4 of mine at 73.05 Thursday. (Only got half the size I wanted short up there) Look to take some off in the 72-70 area and add back 75-76 to better cost basis.

TraderSmarts Numbers for the YM Emini Futures – Thursday February 4, 2010

Support becomes resistance and vice versa…

10194, 10221, 10253, 10277, 10309, 10329, 10356 Resistance on the YM Emini Futures

10146, 10121, 10066 Supports

Trade smart and trade well!

This following was my note on oil from yesterday - Wednesday February 3, 2010:

"CL: Anybody swing long oil from the 1/28/2010 update should be thinking about closing it in the 77/78 target area. My thoughts on oil are this: Move back to 77/78 (which we are getting). Then test of 57.50 area with ebbs and flows along the way. The caveat to this is if we get over 78 and hold there is a good chance of making one final high and if this happens targeting the 88 area. My inclination is to short the 77/78 area and play for the CIT. Either way expecting 57.50 area on oil to be tested."

TraderSmarts Numbers for the YM Emini Futures – Wednesday February 3, 2010

Support becomes resistance and vice versa...

10277, 10309, 10329, 10356, 10430 Resistance on the YM Emini Futures

10228, 10180, 10121, 10066 Supports

Trade smart and trade well!

CL: Anybody swing long oil from the 1/28/2010 update should be thinking about closing it in the 77/78 target area. My thoughts on oil are this: Move back to 77/78 (which we are getting). Then test of 57.50 area with ebbs and flows along the way. The caveat to this is if we get over 78 and hold there is a good chance of making one final high and if this happens targeting the 88 area. My inclination is to short the 77/78 area and play for the CIT. Either way expecting 57.50 area on oil to be tested.

EIA Petroleum today

Explanation of Sniffing Dogs on the 6E / EURUSD - Tuesday February 2, 2010

I said that I would try to to do a blog post explaining sniffing dogs if I had time tonight. So this is that post. Keeping it simple as everything is pretty much explained on the chart. Below I included the tweets that originated this.

• 
• TraderSmarts Feb. 02 at 12:38 PM #
• Resistance along the way at 1.3977/1.3985. Target 1.4006 $6E_F $EURUSD
  
  Ticker: 6E_F EURUSD

• 
• TraderSmarts Feb. 02 at 12:37 PM #
• Target of holding over 1.3948 is 1.4006. Will post charts explaining the sniffin dogs trade tonight if have time $6E_F $EURUSD
  
  Ticker: 6E_F EURUSD

• 
• TraderSmarts Feb. 02 at 12:36 PM #
• Sorry couldn't tweet it dealing with something for fund but reversed to long at 1.3952. $6E_F $EURUSD
  
  Ticker: 6E_F EURUSD

• 
• TraderSmarts Feb. 02 at 11:31 AM #
• Short 1.3949 but this high risk. Best to wait for this 30 min candle to close $6E_F $EURUSD
  
  Ticker: 6E_F EURUSD

• 
• TraderSmarts Feb. 02 at 11:26 AM #
• Got NICE sniffers on 30 min $6E_F $EURUSD watcing to see how current 30 min closes here. Good trade setting up.
  
  Ticker: 6E_F EURUSD

TraderSmarts Numbers for the YM Emini Futures - Tuesday February 2, 2010

Support becomes resistance and vice versa...

10123, 10144, 10200, 10277 Resistance on the YM Emini Futures

10111, 10075, 9999, 9942, 9912 Supports

Trade smart and trade well!

TraderSmarts Numbers for the YM Emini Futures - February 1, 2010

Support becomes resistance and vice versa...

10063, 10091, 10158, 10200, 10277, 10309 Resistance on the YM Emini Futures

9999, 9948, 9921 Supports

Trade smart and trade well!