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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex

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...If the dots don't connect, gather more dots until they do...




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Friday, March 08, 2013

2013 Channels: YM, ES, NQ & TF

As I write this just after 1:00 pm EST on Friday, price on the YM, ES, NQ & TF is holding above the 50% level of their uptrending channels, as shown on the 4 Hour (Globex) charts below. They dropped sufficiently from their recent highs to work out short-term overbought RSI conditions.

A drop and hold below the 50% level could send price down to the 25% channel level, or to the bottom of the channel. Upside targets include the upper 25% level and the top of the channel.