TraderSmarts Numbers for the YM Emini Futures - Friday April 16, 2010

Support becomes resistance and vice versa...

11111, 11125, 11111 Resistance on the YM Emini futures

11071, 11022*, 10984, 10924 Supports

Trade smart and trade well!

YM: See the chart posted on the blog here and take heed of the caveat emptor

Draw a line on your own 60 min YM chart at 10894 from the high on 3/25 like in my chart above. Then shrink chart so you can see it from then til now. That is the definition of support becomes resistance and vice versa. 11022* is the line in the sand today inline with 1201 ES again.

CL: (We got the 87 even test - was that close enough to 87.5?) We got the close over the March 17th high on Wednesday March 31st and so now expecting the extension up to 87.50 from here. I am still expecting an eventual 57.50 test on CL but we must expect the move up to 87.50 first.

6E: 1.3286 was money yet again. I first mentioned this Number in the March 2^nd update. Expecting the 1.3492 target from yesterday to be hit today (we are almost there now).

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TraderSmarts Numbers for the YM Emini Futures - Thursday April 15, 2010

Support becomes resistance and vice versa...

11055, 11086, 11111, 11125, 11155 Resistance on the YM Emini Futures

11022*, 10984, 10924 Supports

Trade smart and trade well!

YM: See the chart posted on the blog here and take heed of the caveat emptor.

Draw a line on your own 60 min YM chart at 10894 from the high on 3/25 like in my chart above. Then shrink chart so you can see it from then til now. That is the definition of support becomes resistance and vice versa. 11022* is the line in the sand today inline with 1201 ES.

CL: (We got the 87 even test - was that close enough to 87.5?) We got the close over the March 17th high on Wednesday March 31st and so now expecting the extension up to 87.50 from here. I am still expecting an eventual 57.50 test on CL but we must expect the move up to 87.50 first.

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TraderSmarts Numbers for the YM Emini Futures - Wednesday April 14, 2010

Support becomes resistance and vice versa...

11022, 11055, 11086 Resistance on the YM Emini Futures

10984, 10958, 10925, 10880, 10861, 10837

Trade smart and trade well!

YM: Tuesday played off the two Key Numbers perfectly. First selling 1 tick shy of they key 10962 straight down to the lower key number at 10894 followed by a 90 pt bounce. The intraday V Bottoms continue. Wednesday I am expecting a move up to 11022 minimum. Over 10984 and holding and the squeeze is on yet again.

See the chart posted on the blog here and take heed of the caveat emptor:

From Tuesday YM: Draw a line on your own 60 min YM chart at 10994 from the high on 3/25 like in my chart above. Then shrink chart so you can see it from then til now. That is the definition of support becomes resistance and vice versa. Will be in play Tuesday. Need to snap that and then CLOSE under 10775 for selling to commence. 10962 is Key to new highs.

CL: Oil Inventories at 7:30 PST (We got the 87 even test - was that close enough to 87.5?) We got the close over the March 17th high on Wednesday March 31st and so now expecting the extension up to 87.50 from here. I am still expecting an eventual 57.50 test on CL but we must expect the move up to 87.50 first.

6E: 1.3286 was money yet again. I first mentioned this Number in the March 2nd update.

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TraderSmarts Numbers for the YM Emini Futures - Tuesday April 13, 2010

Support becomes resistance and vice versa.

10940, 10962*, 11022 Resistance on the YM Emini Futures

10924, 10880, 10861, 10837, 10775 Supports

Trade smart and trade well!

YM: See the chart posted on the blog here and take heed of the caveat emptor.

Draw a line on your own 60 min YM chart at 10994 from the high on 3/25 like in my chart above. Then shrink chart so you can see it from then until now. That is the definition of support becomes resistance and vice versa. 10894 should it get that low will be in play Tuesday. Need to snap that and then CLOSE under 10775 for selling to commence. 10962 is Key to new highs.

CL: (We got the 87 even test - was that enough?) We got the close over the March 17th high on Wednesday March 31st and so now expecting the extension up to 87.50 from here. I am still expecting an eventual 57.50 test on CL but we must expect the move up to 87.50 first.

6E: 1.3286 was money yet again. I first mentioned this Number in the March 2nd update.

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TraderSmarts Numbers for the YM Emini Futures - Monday April 12, 2010

Support becomes resistance and vice versa…

11022, 11086 Resistance on the YM Emini Futures

10955, 10940, 10924, 10880, 10837, 10775 Supports

Trade smart and trade well!

YM: See the chart posted on the blog here and take heed of the caveat emptor.

Draw a line on your own 60 min YM chart at 10994 from the high on 3/25 like in my chart above. Then shrink chart so you can see it from then til now. That is the definition of support becomes resistance and vice versa.

CL: (We got the 87 even test - was that enough?) We got the close over the March 17th high on Wednesday March 31st and so now expecting the extension up to 87.50 from here. I am still expecting an eventual 57.50 test on CL but we must expecting the move up to 87.50 first.

6E: 1.3286 was money yet again. I first mentioned this Number in the March 2nd update.

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TraderSmarts Numbers for the YM Emini Futures - Friday April 9, 2010

Support becomes resistance and vice versa...

10894, 10927, 10940, 10955 Resistance on the YM Emini Futures

10864, 10837, 10775, 10724, 10689, 10633 Supports

Trade smart and trade well!

YM: See the chart posted on the blog here and take heed of the caveat emptor.

CL: We got the close over the March 17th high on Wednesday March 31st and so now expecting the extension up to 87.50 from here. I am still expecting an eventual 57.50 test on CL but we must expect the move up to 87.50 first.

6E: 1.3286 was money yet again. I first mentioned this Number in the March 2nd update.

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Key 10894 - YM Emini Futures

10894 post

10894 post recap

TraderSmarts Numbers for the YM Emini Futures - Thursday April 8, 2010

Support becomes resistance and vice versa...

10849, 10878, 10927, 10940, 10955 Resistance on the YM Emini Futures

10806, 10775, 10724, 10689, 10633 Supports

Trade smart and trade well!

YM: As mentioned in the last few updates I have timing on the YM this week on Tuesday and Thursday. The next tiing on the daily chart is not for another few weeks so if we are going to make a CIT and reverse down this week would be a good time to do it.

Tuesday came and went. The way I see it what would make sense is either to accelerate selling Thursday or to squeeze back up to new bil type highs (10940 - 10955 YM) and put in THE high on the Thursday timing day.

Of course the other option is we just keep going up, forever. Anything can happen at any time and probably will. Trade accordingly.

CL: We got the close over the March 17th high on Wednesday March 31st and so now expecting the extension up to 87.50 from here. I am still expecting an eventual 57.50 test on CL but we must expect the move up to 87.50 first.

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A Brief Note About Timing On The YM Emini Futures

As mentioned in the last few updates I have timing on the YM this week on Tuesday and Thursday. The next timing on the daily chart is not for another few weeks so if we are going to make a CIT and reverse down this week would be a good time to do it.

Tuesday came and went. The way I see it what would make sense is either:

A. To accelerate selling on Thursday.

OR

B. To squeeze back to bil type new highs (10940 - 10955 YM) and put in THE high on the Thursday timing day.

Of course the other options is we just keep going up, forever. Anything can happen at any time and probably will. Trade accordingly.

Trade smart and trade well!

TraderSmarts Numbers for the YM Emini Futures - Wednesday April 7, 2010

Support becomes resistance and vice versa...

10918, 10927, 10940, 10955 Resistance on the YM Emini Futures

10898, 10870, 10827, 10775, 10724, 10689, 10633 Supports

Trade smart and trade well!

YM: I have timing Tuesday and Thursday of this week. Next timing on the daily is not for another few weeks so if we are going to make a CIT and reverse down this week would be a good time to do it.

CL: Oil Inventories today at 7:30 PST. We got the close over the March 17th high on Wednesday March 31st and so now expecting the extension up to 87.50 from here. I am still expecting an eventual 57.50 test on CL but we must expect the move up to 87.50 first.

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TraderSmarts Numbers for the YM Emini Futures - Tuesday April 6, 2010

Support becomes resistance and vice versa...

10898, 10927, 10940, 10955 Resistance on the YM Emini Futures

10870, 10827, 10775, 10724, 10689, 10633 Supports

Trade smart and trade well!

YM: I have timing Tuesday and Thursday of this week. Next timing on the daily is not for another few weeks so if we are going to make a CIT and reverse down this week would be a good time to do it.

CL: We got the close over the March 17th high on Wednesday March 31st and so now expecting the extension up to 87.50 from here. I am still expecting an eventual 57.50 test on CL but we must expect the move up to 87.50 first.

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TraderSmarts Numbers for the YM Emini Futures - Monday April 5, 2010

Support becomes resistance and vice versa...

10927, 10940, 10955 Resistance on the YM Emini Futures

10885, 10870, 10827, 10775, 10724, 10689, 10633 Supports

Trade smart and trade well!

There were some new charts posted to the blog if you missed them late last week.

CL: We got the close over the March 17^th high on Wednesday March 31^st and so now expecting the extension up to 87.50 from here. I am still expecting an eventual 57.50 test on CL but we must expect the move up to 87.50 first

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ES Daily Chart - Friday April 2, 2010

XLF Daily (Financials) - Thursday April 1, 2010

ES Daily Chart - Thursday April 1, 2010

TraderSmarts Numbers for the YM Emini Futures - Thursday April 1, 2010

Support becomes resistance and vice versa…

10869, 10885, 10927, 10955 Resistance on the YM Emini Futures

10824, 10805, 10775, 10689, 10533 Supports

First day of the new quarter. Last full day of the week.

Trade smart and trade well!

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CL: We got the close over the March 17th high Wednesday and so now expecting the extension up to 87.50 from here. Still expecting an eventual 57.50 test but we must expect a move up to 87.50 first. My swing short position that I have been trading around to better the c/b on for five weeks since we entered this range will be closed out on weakness.

From Wednesday CL: Every test of the upper end of my 79.7-82.7 range has been met by hard selling. I have been trading around a swing short position in my range to better c/b for nearly five weeks now. I'm Still expecting a CIT from this range. IF CL can close over the close of March 17, 2010 then a move up to 87.5 is possible. Big picture I still expect an eventual 57.50 test in CL.

Someone asked me how can I go from expecting a CIT in my range to now saying I'm prepared for a move up to 87.50. We have been in this range for five weeks - first hitting the lower end of it on 2/19/2010. It wasn't until the Update for March 18th that I first mentioned 87.50. If you look at the chart - on March 17th we had the highest close of the entire 4 weeks AND closed OVER the top of my range for the first time in those five weeks. And this followed a sharp reversal down and then up - indicating strength. Now we have sold off again. Anyway the strength of the reversal and the close over the high of the range for the first time I had to look for targets above if we broke up, instead of down as I am expecting. 87.50 is the logical target if it can break up out of this 79.7 - 82.7 range I have had for over a month. I am expecting a move back down to 76 minimum but time will tell and markets are not static. We must be prepared for everything.

TraderSmarts Numbers for the YM Emini Futures - Wednesday March 31, 2010

Support becomes resistance and vice versa…

10838, 10869, 10885, 10927 Resistance on the YM Emini Futures

10775, 10689, 10633 10571 Supports

Trade smart and trade well!

End of month and end of quarter trading – pay attention.

EIA Petroleum at 7:30 PST

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CL: Every test of the upper end of my 79.7-82.7 range has been met by hard selling. I have been trading around a swing short position in my range to better c/b for nearly five weeks now. I'm Still expecting a CIT from this range. IF CL can close over the close of March 17, 2010 then a move up to 87.5 is possible. Big picture I still expect an eventual 57.50 test in CL.

Someone asked me how can I go from expecting a CIT in my range to now saying I'm prepared for a move up to 87.50. We have been in this range for five weeks - first hitting the lower end of it on 2/19/2010. It wasn't until the Update for March 18th that I first mentioned 87.50. If you look at the chart - on March 17th we had the highest close of the entire 4 weeks AND closed OVER the top of my range for the first time in those five weeks. And this followed a sharp reversal down and then up - indicating strength. Now we have sold off again. Anyway the strength of the reversal and the close over the high of the range for the first time I had to look for targets above if we broke up, instead of down as I am expecting. 87.50 is the logical target if it can break up out of this 79.7 - 82.7 range I have had for over a month. I am expecting a move back down to 76 minimum but time will tell and markets are not static. We must be prepared for everything.

TraderSmarts Numbers for the YM Emini Futures - Tuesday March 30, 2010

Support becomes resistance and vice versa...

10834, 10858, 10885, 10927 Resistance on the YM Emini Futures

10817, 10775, 10727, 10689, 10633, 10571 Supports

Trade smarts and trade well1

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CL: Every test of the upper end of my 79.7-82.7 range has been met by hard selling. I have been trading around a swing short position in my range to better c/b for nearly five weeks now. I'm Still expecting a CIT from this range. IF CL can close over the close of March 17, 2010 then a move up to 87.5 is possible. Big picture I still expect an eventual 57.50 test in CL.

Someone asked me how can I go from expecting a CIT in my range to now saying I'm prepared for a move up to 87.50. We have been in this range for five weeks - first hitting the lower end of it on 2/19/2010. It wasn't until the Update for March 18th that I first mentioned 87.50. If you look at the chart - on March 17th we had the highest close of the entire 4 weeks AND closed OVER the top of my range for the first time in those five weeks. And this followed a sharp reversal down and then up - indicating strength. Now we have sold off again. Anyway the strength of the reversal and the close over the high of the range for the first time I had to look for targets above if we broke up, instead of down as I am expecting. 87.50 is the logical target if it can break up out of this 79.7 - 82.7 range I have had for over a month. I am expecting a move back down to 76 minimum but time will tell and markets are not static. We must be prepared for everything.

TraderSmarts Numbers for the YM Emini Futures and notes on 6E & CL - Monday March 29, 2010

Support becomes resistance and vice versa...

10806, 10834, 10858, 10885, 10927 Resistance on the YM Emini Futures

10762, 10727, 10689, 10633, 10571 Supports

Trade smart and trade well!

As many of you who follow my tweets know I took Friday off and made it a three day weekend after having a great Thursday and then nailing 6E on Thursday night at my 1.3286 (for the second night in a row). So sorry about no TraderSmarts Numbers on Friday. Think this is only the 3rd time I have missed TraderSmarts Numbers (the other two being when my youngest son was born and when my friend died). As I tweeted though - full refunds are available to anyone who requests :)

I hope you had a great weekend and are ready for another great week of trading!

Markets: In the email update for Thursday (and on the blog) I mentioned 2 key numbers. 10820 and 10894 being the squeeze target of over and holding 10820. 10894 ended up being the exact high of the day on Thursday. Friday was a doji. For Monday I am keying on two things (bigger picture) if we can close over the high of Friday and if we can close over the high of Thursday. IMO a close over the high of Friday all but guarantees (and there are no guarantees) a test of Thursday's high. Over Thursday's high and most likely yet another squeeze ensues. In any normal environment the pattern over the last 4 trading days would signify to me to expect a reversal down. Yet this is not a normal environment - apparently we are in some insane environment where the only direction is up.

FROM UPDATE FOR THURSDAY: Okay I noticed some things today that seem appropriate to share. If you recall Tuesday 10831 was the high print on the end of day spike in the YM. At the end of the day yesterday I told my partner in the fund that we should go squeeze to 10894 Wednesday UNLESS we somehow sold off overnight and opened under 10820 and then banged head on 10820 as resistance. We did get selling overnight and I went into the day with 10820 as my line in the sand.

Over that and holding and we had the squeeze target. On any other day prior we would have easily squeezed over that and went to squeeze targets. This morning we hit 10820 to the tick and then sold nicely. If you recall I tweeted that we were moving at ¼ the normal speed and that snapping 10820 or 10780 would double the speed. The snap was to the downside and with volume which has not happened in a while. Then we popped back up to 10815 - on any other day we would have grinded up over 10820 and forced yet another squeeze but today we sold hard again and took out the morning low by a tick, albeit on not as much volume as the first time. Key number one was the noticeable weakness for the first time in a while and that the market couldn't force another squeeze when it had every opportunity to do so. Key 2 is I tweeted about also - the Bearish Harami on the daily chart of a lot of the big indexes most notably the $OEX, $SPX and $RUT. The one on the DIA looks really nice as well. Key 3 is timing that I have in play the 23- 25th. All interesting observations and worth sharing - do with them what you want.

6E/ EURUSD: Two times now (Wednesday night and Thursday night) my 1.3286 number on the 6E has been money. I first mentioned this number on March 2nd, 2010 (see the March 2nd blog post or the email from March 2nd). If the 6E can remain on the north side of this number there is a potential for a CIT to take place with a eventual target of 1.4150.

FROM UPDATE FOR THURSDAY: 6E / EURUSD: A lot of people are talking about how the markets follow the EURO and if the Euro finally bottoms and starts reversing up it will be hard for the markets to sell off. My response to that is that the Euro sure hasn't been following the markets lately J. I think it is possible to get a Euro rally and market weakness at the same time - time will tell on this though. At any rate the Euro is nearing the next key level that I have had (and mentioned before on the blog) for a possible reversal and move up. If we get it the initial swing target would be 1.4150 rough eye. There are some levels I am looking at for this to potentially begin from.

CL: Every test of the upper end of my 79.7-82.7 range has been met by hard selling. I have been trading around a swing short position in my range to better c/b for four weeks now. I am still expecting a CIT from this range. If CL can close over the March 17th close then a move to 87.50 is possible. Big picture I still expect an eventual 57.50 test in CL.

Someone asked me how I can go from expecting a CIT in my range to now saying I'm prepared for a move up to 87.50. We have been in this range for 4 weeks - first hitting the lower end of it on 2/19/2010. It wasn't until the Update for March 18th that I first mentioned 87.50. If you look at the chart - on March 17th we had the highest close of the entire 4 weeks AND closed OVER the top of my range for the first time in those 4 weeks. And this followed a sharp reversal down and then up - indicating strength. Now we have sold off again. Anyway the strength of the reversal and the close over the high of the range for the first time I had to look for targets above if we broke up, instead of down as I am expecting. 87.50 is the logical target if it can break up out of this 79.7 - 82.7 range I have had for over a month. I am expecting a move back down to 76 minimum but time will tell and markets are not static. We must be prepared for everything.

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Bearish Harami - Wednesday March 24, 2010

The Bearish Harami that I tweeted about earlier that formed today on a lot of the equity indexes. This is the daily YM cash session.

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

Support becomes resistance and vice versa…

10799 – 10810, 10858, 10894 Resistance on the YM Emini Futures

10770, 10724, 10689, 10633, 10571 Supports

Trade smart and trade well!

Markets: Okay I noticed some things today that seem appropriate to share. If you recall Tuesday 10831 was the high print on the end of day spike in the YM. At the end of the day yesterday I told my partner in the fund that we should go squeeze to 10894 Wednesday UNLESS we somehow sold off overnight and opened under 10820 and then banged head on 10820 as resistance. We did get selling overnight and I went into the day with 10820 as my line in the sand.

Over that and holding and we had the squeeze target. On any other day prior we would have easily squeezed over that and went to squeeze targets. This morning we hit 10820 to the tick and then sold nicely. If you recall I tweeted that we were moving at ¼ the normal speed and that snapping 10820 or 10780 would double the speed. The snap was to the downside and with volume which has not happened in a while. Then we popped back up to 10815 – on any other day we would have grinded up over 10820 and forced yet another squeeze but today we sold hard again and took out the morning low by a tick, albeit on not as much volume as the first time. Key number one was the noticeable weakness for the first time in a while and that the market couldn't force another squeeze when it had every opportunity to do so. Key 2 is I tweeted about also - the Bearish Harami on the daily chart of a lot of the big indexes most notably the $OEX, $SPX and $RUT. The one on the DIA looks really nice as well. Key 3 is timing that I have in play the 23- 25^th. All interesting observations and worth sharing – do with them what you want.

YM: Latest Daily Chart Update - An Updated Look at the Daily Chart of the YM

6E / EURUSD: A lot of people are talking about how the markets follow the EURO and if the Euro finally bottoms and starts reversing up it will be hard for the markets to sell off. My response to that is that the Euro sure hasn't been following the markets lately J. I think it is possible to get a Euro rally and market weakness at the same time – time will tell on this though. At any rate the Euro is nearing the next key level that I have had (and mentioned before on the blog) for a possible reversal and move up. If we get it the initial swing target would be 1.4150 rough eye. There are some levels I am looking at for this to potentially begin from.

CL: Every test of the upper end of my 79.7-82.7 range has been met by hard selling. I have been trading around a swing short position in my range to better c/b for four weeks now. Still expecting a CIT from this range but prepared for a move up to 87.50 if we can close over the close of March 17, 2010. I do still expect an eventual 57.50 test in CL.

Someone asked me how I can go from expecting a CIT in my range to now saying I'm prepared for a move up to 87.50. We have been in this range for 4 weeks - first hitting the lower end of it on 2/19/2010. It wasn't until the Update for March 18th that I first mentioned 87.50. If you look at the chart - on March 17th we had the highest close of the entire 4 weeks AND closed OVER the top of my range for the first time in those 4 weeks. And this followed a sharp reversal down and then up - indicating strength. Now we have sold off again. Anyway the strength of the reversal and the close over the high of the range for the first time I had to look for targets above if we broke up, instead of down as I am expecting. 87.50 is the logical target if it can break up out of this 79.7 - 82.7 range I have had for over a month. I am expecting a move back down to 76 minimum but time will tell and markets are not static. We must be prepared for everything.

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TraderSmarts Subsscriber Numbers for the YM, ES, 6E, & CL - Wednesday March 24, 2010

I have included the TraderSmarts Subscriber Numbers on the blog today as a bonus…

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Support becomes resistance and vice versa...

TraderSmarts Numbers for the YM

10894, 10858, 10810, 10776, 10724, 10689, 10633, 10571

TraderSmarts Numbers for the ES

1178.75, 1175, 1172*, 1165.5, 1160.25, 1156.5, 1151.25, 1146.5, 1141

TraderSmarts Numbers for the 6E

1.3642, 1.3567, (1.3537 - 1.3527*), 1.3511, 1.3493, 1.3433, 1.3418, 1.3397, 1.3286

TraderSmarts Numbers for CL

83.59, 82.70, 81.99, 81.86, 81.54, 80.85, 80.73, 80.40, 80.21, 79.7, 78.78

Trade smart and trade well!

YM: Latest Daily Chart Update - An Updated Look at the Daily Chart of the YM

CL: Oil Inventories today at 7:30 AM PST

Every test of the upper end of my 79.7-82.7 range has been met by hard selling. I have been trading around a swing short position in my range to better c/b for four weeks now. Still expecting a CIT from this range but prepared for a move up to 87.50 if we can close over the close of March 17, 2010. I do still expect an eventual 57.50 test in CL.

Someone asked me how can I go from expecting a CIT in my range to now saying I'm prepared for a move up to 87.50. We have been in this range for 4 weeks - first hitting the lower end of it on 2/19/2010. It wasn't until the Update for March 18th that I first mentioned 87.50. If you look at the chart - on March 17th we had the highest close of the entire 4 weeks AND closed OVER the top of my range for the first time in those 4 weeks. And this followed a sharp reversal down and then up - indicating strength. Now we have sold off again. Anyway the strength of the reversal and the close over the high of the range for the first time I had to look for targets above if we broke up, instead of down as I am expecting. 87.50 is the logical target if it can break up out of this 79.7 - 82.7 range I have had for over a month. I am expecting a move back down to 76 minimum but time will tell and markets are not static. We must be prepared for everything.

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

Support becomes resistance and vice versa...

10737, 10771, 10812 Resistance on the YM Emini Futures

10711, 10694, 1630, 10571, 10470 Supports

Trade smart and trade well!

YM: Latest Daily Chart Update - An Updated Look at the Daily Chart of the YM

CL: Every test of the upper end of my 79.7-82.7 range has been met by hard selling. I have been trading around a swing short position in my range to better c/b for four weeks now. Still expecting a CIT from this range but prepared for a move up to 87.50 if we can close over the close of March 17, 2010. I do still expect an eventual 57.50 test in CL.

Someone asked me how can I go from expecting a CIT in my range to now saying I'm prepared for a move up to 87.50. We have been in this range for 4 weeks - first hitting the lower end of it on 2/19/2010. It wasn't until the Update for March 18th that I first mentioned 87.50. If you look at the chart - on March 17th we had the highest close of the entire 4 weeks AND closed OVER the top of my range for the first time in those 4 weeks. And this followed a sharp reversal down and then up - indicating strength. Now we have sold off again. Anyway the strength of the reversal and the close over the high of the range for the first time I had to look for targets above if we broke up, instead of down as I am expecting. 87.50 is the logical target if it can break up out of this 79.7 - 82.7 range I have had for over a month. I am expecting a move back down to 76 minimum but time will tell and markets are not static. We must be prepared for everything.

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

Support becomes resistance and vice versa...

10677, 10699, 10724, 10757, 10777 Resistance on the YM Emini Futures

10630, 10604, 10571, 10539, 10470 Supports

Trade smart and trade well!

YM: Latest Daily Chart Update - An Updated Look at the Daily Chart of the YM

CL: Every test of the upper end of my 79.7-82.7 range has been met by hard selling. I have been trading around a swing short position in my range to better c/b for four weeks now. Still expecting a CIT from this range but prepared for a move up to 87.50 if we can close over the close of March 17, 2010. I do still expect an eventual 57.50 test in CL.

Someone asked me how can I go from expecting a CIT in my range to now saying I'm prepared for a move up to 87.50. We have been in this range for 4 weeks - first hitting the lower end of it on 2/19/2010. It wasn't until the Update for March 18th that I first mentioned 87.50. If you look at the chart - on March 17th we had the highest close of the entire 4 weeks AND closed OVER the top of my range for the first time in those 4 weeks. And this followed a sharp reversal down and then up - indicating strength. Now we have sold off again. Anyway with the strength of the reversal and the close over the high of the range for the first time I had to look for targets above if we broke up, instead of down as I am expecting. 87.50 is the logical target if it can break up out of this 79.7 - 82.7 range I have had for over a month. I am expecting a CIT and move back down to 76 minimum but time will tell and markets are not static. We must be prepared for everything.

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

Support becomes resistance and vice versa...

10733, 10757, 10777 Resistance on the YM Emini futures

10722, 10690, 10673, 10647, 10604, 10571, 10539

Trade smart and trade well!

YM: Latest Daily Chart Update - An Updated Look at the Daily Chart of the YM

CL: Every test of the upper end of my 79.7-82.7 has been met by hard selling. I have been trading around a swing short position in my range to better the cost basis for the past four weeks now. Still expecting a CIT from this range but prepared for a move up to 87.50 and still expecting an eventual 57.50 test in CL

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

Support becomes resistance and vice versa...

10675, 10699, 10732, 10757 Resistance on the YM Emini Futures

10647, 10604, 10571, 10539, 10470, 10395 Supports

Trade smart and trade well!

YM: Latest Daily Chart Update - An Updated Look at the Daily Chart of the YM

CL: Two tests of the upper end of my 79.7 - 82.7 range and a NICE FAST DUMP each time - Wednesday and Friday of last week. A third test Tuesday of this week met by selling but not as strong selling like last week. I have been trading around a swing short position in my range to better the cost basis for the past four weeks now. Still expecting a CIT from this range but prepared for a move up to 87.50 and still expecting an eventual 57.50 test in CL

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TraderSmarts Numbers for the YM Emini Futures - Wednesday March 17, 2010

Support becomes resistance and vice versa...

10651, 10599, 10757 Resistance on the YM Emini Futures

10605, 10560, 10533, 10470, 10395 Supports

Trade smart and trade well!

YM: Latest Daily Chart Update - An Updated Look at the Daily Chart of the YM

CL: Two tests of the upper end of my 79.7 - 82.7 range and a NICE FAST DUMP each time - Wednesday and Friday of last week. I have been trading around a swing short position in my range to better cost basis for the past three weeks now. Still expecting a CIT from this range and still expecting an eventual 57.50 test in CL

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TraderSmarts Subscriber Numbers for the YM, ES, CL & 6E - Tuesday March 16, 2010

FOMC Today – Trade accordingly. I Put the TraderSmarts Subscriber Numbers on the blog today as a bonus...

Support becomes resistance and vice versa...

TraderSmarts Numbers for the YM

10757, 10699, 10651, 10618, 10606,10582, 10560, 10533, 10470, 10395

TraderSmarts Numbers for the ES

1167.75, 1159, 1154.5, 1150.5, 1146, 1143.25, 1140.75, 1134.25, 1129

TraderSmarts Numbers for the CL

83.59, 82.7, 82.18, 81.93, 80.77, 80.47, 79.7, 79.09, 78.86, 77.61, 76.25

TraderSmarts Numbers for the 6E

1.3838, 1.3802, 1.3779, (1.3741 - 1.3732*), 1.3717, 1.3699, 1.3668, 1.3640, 1.3592

Trade smart and trade well!

YM: Latest Daily Chart Update - An Updated Look at the Daily Chart of the YM

CL: Two tests of the upper end of my 79.7 - 82.7 range and a NICE FAST DUMP each time - Wednesday and Friday of last week. I have been trading around a swing short position in my range to better cost basis for the past three weeks now. Still expecting a CIT from this range and still expecting an eventual 57.50 test in CL

6E: Needs to clear the 1.3741 – 1.3732* zone for a move higher.

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TraderSmarts Numbers for the YM Emini Futures - Monday March 15, 2010

Support becomes resistance and vice versa...

10598, 10618, 10642, 10699 Resistance on the YM Emini Futures

10560, 10532, 10508, 1070, 10433, 10373, 10283 Supports

Trade smart and trade well!

YM: Latest Daily Chart Update - An Updated Look at the Daily Chart of the YM

CL: Two tests of the upper end of my 79.7 - 82.7 range and a NICE FAST DUMP back through 2X now - Wednesday and Friday of last week. I have been trading around a swing short position in my range to better cost basis for the past three weeks now. Still expecting a CIT from this range and still expecting an eventual 57.50 test in CL

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TraderSmarts Numbers for the YM Emini Futures - Friday March 12, 2010

Support becomes resistance and vice versa...

10547, 10560, 10618 Resistance on the YM Emini Futures

10528, 10502, 10470, 10433, 10373 Supports

Trade smart and trade well!

YM: See the new blog post - An Updated Look at the Daily Chart of the YM

CL: Closed over the midpoint of the79.7 - 82.7 range so as anticipated the upper end of the range was tested. Tested again on Wednesday (got over 82.7 for the first time since back up to this range and to a high of 83.03 and then DUMPED back under NICELY down to a low of 80.81). Spent the majority of Thursday coiling in the middle of the range from Wednesday. Still expecting CIT from this range and still expecting an eventual 57.50 test in CL.

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