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Soultrader

Levels for YM, Jan. 8, 2007

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Just wanted to post some interesting levels for the YM today. I'm going to see how these levels play out today.

 

Support:

 

12425-12430

12400

12350

 

Resistance:

 

12470

12520- 12525

12580

12600

 

Will post the results at these levels after the close. The 3 most important levels I will be watching today are 12470, 12425, 12400.

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Support could also come in around 410-415, too. Lows from 12/22 and 12/26. They might coincide with 400...I'll be careful to not wait for the 400 area in case something pops up....for support.

 

Funny how we're right at 471, and couldn't shake that overnight either. This is a very key number to watch. In a lot of peoples minds recently.

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Thanks for the analysis Soul & Tin,

 

The ER2 has some interesting confluence in the 774ish-779ish area. Previous days low, Weekly low, monthly low, daily S1, monthly S1 and VAL. If that can't hold price I say look out below! lol

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Wow...thats an intense cluster if I do say so :)

 

Yeah with that cluster and the sucking noise from Fridays continuation gap, I'm looking to see if price can setup a nice buy signal.

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Very whipsaw environment today with decent intraday swings. Markets test the 12405 mark (just shy of 12400) below value to find NICE volume. It went on to lift into value and a last hour push out of value.

 

Lets go over the levels.

 

12405 was dead low

12425 - 12430: no longer key here

12470: markets broke through it with ease

12515-12520: dead high for the day

010807chart.gif.045713cd61ca9cf24a253c89b67d83d0.gif

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555 is POC for last 30 days of a profile. Lots and lots of volume at that area. The red area is the value area for the past 30 days.

 

Was pretty choppy today. Looking forward to tomorrow!

YM_VolProf.thumb.png.c487c808cb6900cfdbd2b6c6eda2868c.png

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