Figure 15-16 shows you what kind of market we were looking at in
the bigger picture. Looking at this daily chart in YM, you can see that this
market had been severely damaged after the 2/20/07 high was made. This
damage became obvious on 2/27/07 when the prior swing low was violated
on the daily chart at 12561. The ideal setup example in the previous
two charts that failed occurred after 2/27/07.