14309, 14148, 14141, 14099, 14078, 14055,14021, 14014, 13992, 13977, 13965, 12947, 12939, 13924, 13913, 13895, 13868, 13858, 13836, 13813, 13787, 13773, 13740, 13726, 13709, 13695, 13680, 13661, 13644, 13631, 13601, 13573, 13523, 13504, 13488, 13474, 13456, 13433, 13405, 13375, 13354, 13350, 13339, 13329, 13309, 13289 Support / Resistance on the YM Emini Futures
YM Contract Notes: Heavily favoring shorts into HOS FTU then stand down until Extreme. Flush through 13977 - 13947 Wednesday (exactly what shorts wanted to see). According to notes from Wed if this is true BIL then we top out by Thursday and start reversing down by Friday. 13977 / 13947 Key Resistance Thursday.
Macro Technical View: May want to check chart of Feb 27, 2007. BIL high complete?
Dow close over 14K on 2/1/2013. Higher close Wed 2/12/13. Since the end of 2012 it has been in the Contract Notes that over and holding 13245 and we likely get new all time highs in the Dow. Three big extended up targets have been hit since 1/8/2013 when TS TradePlan first called for swing longs: 13523, 13836 and 13992. New all time highs in the Dow are only 200 ticks away so do we get a retrace before making a stab at new highs or do we just keep charging up? I don't know what will happen but favoring shorts looking for a BIL high to short and targeting tests of 13836 initial, 13523, and potentially 13245 below. <<<Got the BIL high on Tuesday Feb 19, 2013 now see what happens from here. If this is true BIL then likely tops out by Thursday and reversing down to targets by Friday.
YM Execution/Targets Zones:
14148 - 14141 Extreme Short
13992 - 13977 Highest Odds Short FTU
13965 - 13947 Range Short
13868 Range Long
13836 - 13813 Highest Odds Long FTD
13695 - 13680 Extreme Long
Support becomes resistance and vice versa...
Trade smart and trade well!
TS TradePlan for ES YM 6E GC CL + TS Trades (Live Trade Alerts / Market Commentary / Private Twitter Feed): www.tradersmarts.net
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