Oct 18th, 2010From our members video last night we noted that CME could be poised for a breakout to the upside if it took out the $270.00 high and today CME closed up $13.36 points.
Notice at the last low we had blue bars telling us that the $235.00 low was very important. The $235.00 level was also the bigger support buy zone on the weekly chart meaning; even though on this chart it looks like the $235.00 area would be trying to pick the bottom it was actually a weekly buy level and the $270.00 entry would actually be a minor wave breakout in the bigger trend.
Would you stay short at the $235.00 low if you saw the blue bars?
There was also a 80 point rally off the blue bars on 2/5
We will try to do more stock trades on this blog going forward.
Happy Trading,
www.eMiniSchool.com
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