YM Levels: March 20, 2007

[Soultrader]

Couple of levels for today:

12425 - 12430: r2, weekly pivot, 3/09 high
12387 - 12400: 3/13 high and open gap
12379: R2
12358: VPOC from 3/13
12328 - 12334: VAH, previous day high
12297 - 12300: psych level,VAL, previous day
support (morning breakout point)
12256: previous day low
12230: weekly pivot, s1
12176: previous day low, 3/13 low
12161 - 12165: VPOC from 3/14, lows from 3/1

Alot of levels piled up in tight brackets today. I'm not feeling too comfortable from a pivot point style perspective. I am still bullish short term but cautious of the low volume rally yesterday. Professional interest is not visible. We also have an open gap that is waiting to be filled. I am going to pay close attention to the VPOC at 12358. Price could meet resistance here. Value area is narrow so price will probably travel outside of it early in the trading session.

Go with the flow.