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Thursday, July 19, 2012

Mid-Day Report on YM, ES, NQ & TF

The Weekly charts below of the YM, ES, NQ & TF show that price has popped above the mid-Bollinger Band as I write this just after noon on Thursday.

At the moment, I'd place general near-term support at this level, which is 12777 for YM, 1354.50 for ES, 2625.50 for NQ, and 792 for TF.

If these levels hold, potential targets are their upper Bollinger Band, or higher...otherwise, I'd look for price to fall, once again, to their lower Bollinger Band/50 sma (red), or lower.