|
Re: Market Ready For A Pullback?
Interesting analysis James.
The chart below shows the key reference areas above and below the close for the YM on 9/19.
During today's trading, the YM traded up to the high volume node of the composite profile for the previous 2 days and reversed. This becomes the key reference area above the YM's close to monitor. So tomorrow I will be watching 11660 - 11670, an area that includes a high volume node and single prints. Perhaps we'll get a shorting opportunity in this area tomorrow. We'll see...
The YM then traded down to the single prints from 9/13 and reversed. This becomes a support area for the YM since it appears that there are still buyers in this area.
|