TradeStalker's RBI Update 07/24/08

.................................................

TradeStalker's

R.B.I. Trader's Update

7 / 24 / 2008

(Published Since 1996)

...............................................


Dateline: 7:31 pm eastern time, 7/24/2008

** Please Note: Mike sends out numerous updates throughout
the trading day to our subscribers. Go here now to
subscribe: http://www.tradestalker.com/order-page.htm

After a flat open on Thursday, the market was hit with
selling. There was a very small bounce off of the 1277.50
level on the SP futures, but after getting to 1280.25
another wave of selling started. The drop took the SP
futures to just above the 1263.00-1262.25 key support zone,
and the SP futures made a little double bottom there.
However, the SP futures couldn't get over 1268 and hold, and
the selling continued in trend-down mode. The SP futures
dropped to 1257.75 and bounced, but the old 1263.50 support
turned into resistance on the bounce and the market sold off
into the close.

After getting turned down from just below the major 1292-
1293 resistance zone on Wednesday, there was bell-to bell
selling on Thursday with the highs made in the first 5
minutes and the lows made just before the close. The SP500
cash closed back under the 1260 level, which was pivotal
before the rally to 1291 this week.That same area looks to
be pivotal again on Friday.

IF the market is on the way to test the yearly lows, it will
likely set up a great buying opportunity. The internal
gauges will likely show bullish divergences, and that would
support a more sustainable rally back. That kind of set-up
could be what's needed to get a good bottom in place. On the
other side of the coin, the market could take off again from
down here and rally back to test the 1291-1292 area, or
possibly get to the low 1300's. IF that occurs, then we
could get the opposite type of set-up, and a string of -20
to -30 days on the SP500 could begin. We'll see how things
shape up as we near the end-of-month bias. For the time-
being, think "trading range" and look to get long on sharp
drops that stall/reverse (not the slow grinding action like
Thursday) and short on the quick run ups as soon as they
stall/reverse.

Look for early weakness to be bought on Friday. If that
plays out, then be ready to cover and short the first decent
bounce that fizzles. It will take a break, and hold, over
the initial resistance areas just to get into neutral
territory and begin a transition back to the upside. The
bounces will set up better odds shorting opportunities
unless/until those areas broken.

The initial resistance is at the 1263.25-1263.75 area on the
SP futures and 1841.75-1842.75 area on the Nasdaq futures.
If the market pops up there early on Friday and reverses,
then it's a good shorting opportunity. If those areas are
not a problem, then the 1268.50-1269.50 area on the SP
futures and 1848.25-1849.00 area on the Nasdaq futures would
be the next hurdles. If the market rallies back to those
areas and doesn't reverse, then the 1275.25-1276.25 area on
the SP futures and 1854.75-1856.00 area on the Nasdaq
futures would be the next resistance to get through. If the
market rallies back that far, and the move doesn't reverse,
then it would open the door for a rally towards the 1283.25-
1284.25 area on the SP futures.

The initial support is at the 1251.50-1251.00 area on the SP
futures and 1812.50-1811.50 area on the Nasdaq futures. If
those areas are not defended, then a move towards the
1246.00 level on the SP futures and 1804.00 level on the
Nasdaq futures is likely. A reversal could occur from near
those levels, but if that doesn't happen, then the 1242.00-
1241.00 area on the SP futures and 1798.50-1797.50 area on
the Nasdaq futures is the next key support. If the market
can not quickly turn around from a drop to those zones, then
it opens the door for a drop towards the 1235.50-1234.50
area on the SP futures and 1791.50-1790.50 area on the
Nasdaq futures. If the market drops to those areas, and
still can not turn, then the SP futures could drop another
10 points to the 1225.50-1224.50 zone.


September 2008 SP futures resistance
symbols: emini = esu8 / big contract =spu8

1263.25-1263.75
1268.50-1269.50
1275.25-1276.25
1283.25-1284.25

September 2008 SP futures support
symbols: emini = esu8 / big contract =spu8

1251.50-1251.00
1246.00
1242.00-1241.00
1235.50-1234.50
1225.50-1224.50

September 2008 Nasdaq futures resistance
symbols: emini = nqu8 / big contract = ndu8

1841.75-1842.75
1848.25-1849.00
1854.75-1856.00

September 2008 Nasdaq futures support
symbols: emini = nqu8 / big contract = ndu8

1812.50-1811.50
1804.00
1798.50-1797.50
1791.50-1790.50

September 2008 Dow futures resistance
symbols: emini = ymu8

11419-11422
11496-11501
11551-11556

September 2008 Dow futures support
symbols: emini = ymu8

11331-11326
11282
11245-11238
11194-11188

September 2008 Russell futures resistance
symbols: emini = er2u8 / big contract = er2u8

709.00-709.30
713.40-713.90
717.60-718.00

September 2008 Russell futures support
symbols: emini = er2u8 / big contract = er2u8

702.60-702.20
698.50
695.30-694.80
691.00-690.60


---------------------------

REMINDER:

Real Time subscribers can view these updates on
the web at this site:

http://www.tradestalker.com/members


---------------------------


Good Trading,
Mike Reed

Copyright (c) 2008 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.

www.TradeStalker.com

PO Box 9783, Ft Wayne, IN, 46899

Disclaimer

The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.

We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************

TradeStalker's RBI Update 07/23/08

.................................................

TradeStalker's

R.B.I. Trader's Update

7 / 23 / 2008

(Published Since 1996)

...............................................


Dateline: 6:26 pm eastern time, 7/23/2008


** Please Note: Mike sends out numerous updates throughout
the trading day to our subscribers. Go here now to
subscribe: http://www.tradestalker.com/order-page.htm

The market opened higher on Wednesday and barely pulled back
before more buying came in. The SP futures took off and
sprinted to 1291.25 before finally reversing. That was just
under the major resistance at the 1292.00-1293.00 area on
the SP futures, and the market dropped pretty fast to
1277.75 on the SP futures. They bounced back and then tested
that low before running up to 1286.50. After that the market
spent the rest of the day trading in a range between 1278
and 1284 on the SP futures.

It looks like the market is just about at a cross-road where
this becomes more than a bear market rally. The market has
had a very good rally off of the lows. However, that 1292-
1293 area was tested and rejected on Wednesday. To this
point, however, there was no damage done after that. It
looks like the SP futures need to stay over the 1277.50-
1276.50 zone to avoid a deeper pullback.

On Thursday look to buy an early pullback if it holds the
initial support areas, and then get short when the upside
stalls/reverses, as long as this occurs at, or under, the
initial resistance areas. If the market does *not* stall or
show signs of a turn at those areas, then don't fight it, as
a break and hold of those areas could lead to an
acceleration. If there happens to be a pop or drop through
the initial support or resistance zones, and the move
quickly reverses, that's a tell that the rejection could
gain momentum.

The initial resistance is at the 1286.25-1286.75 area on the
SP futures and the 1856.00-1856.75 area on the Nasdaq
futures. If those areas are not a problem, then the big
resistance is at the 1292.00-1293.00 area on the SP futures
and the 1868.00-1870.25 area on the Nasdaq futures. If the
market gets up there again and the move stalls out, it
should set up a good shorting opportunity with a fairly
tight stop. However, if those are not a problem, then we
could see the market go for the 1297.75-1298.50 area on the
SP futures and the 1878.75-1880.50 area on the Nasdaq
futures. If for some reason those are exceeded and the
market doesn't reverse, then a melt-up type move could get
the SP futures to the 1303.50-1304.00 area on this leg up.

The initial support is at the 1277.50-1276.50 area on the SP
futures and the 1840.50-1838.50 area on the Nasdaq futures.
If the market cannot quickly bounce off of those areas, then
it opens the door for a drop to the 1273.50-1272.75 area on
the SP futures and the 1828.50-1827.75 area on the Nasdaq
futures. If those are held, then a bounce back could occur.
If there is no hint of a bounce, then we should see the
1269.00-1268.25 area on the SP futures and the 1815.50-
1814.50 area on the Nasdaq futures. If those do not hold,
then major support is at the 1263.00-1262.25 area on the SP
futures and the 1807.50-1806.00 area on the Nasdaq futures.



September 2008 SP futures resistance
symbols: emini = esu8 / big contract =spu8

1286.25-1286.75
1292.00-1293.00
1297.75-1298.50
1303.50-1304.00


September 2008 SP futures support
symbols: emini = esu8 / big contract =spu8

1277.50-1276.50
1273.50-1272.75
1269.00-1268.25
1263.00-1262.25


September 2008 Nasdaq futures resistance
symbols: emini = nqu8 / big contract = ndu8

1856.00-1856.75
1868.00-1870.25
1878.75-1880.50


September 2008 Nasdaq futures support
symbols: emini = nqu8 / big contract = ndu8

1840.50-1838.50
1828.50-1827.75
1815.50-1814.50
1807.50-1806.00


September 2008 Dow futures resistance
symbols: emini = ymu8

11642-11645
11684-11689
11747-11752


September 2008 Dow futures support
symbols: emini = ymu8

11559-11556
11542-11527
11478-11473
11426-11423


September 2008 Russell futures resistance
symbols: emini = er2u8 / big contract = er2u8

722.40-722.70
726.40-727.20
733.80-734.20


September 2008 Russell futures support
symbols: emini = er2u8 / big contract = er2u8

717.00-716.70
714.80-714.20
709.10-708.60
704.20-703.80


---------------------------

REMINDER:

Real Time subscribers can view these updates on
the web at this site:

http://www.tradestalker.com/members


---------------------------


Good Trading,
Mike Reed

Copyright (c) 2008 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.

www.TradeStalker.com

PO Box 9783, Ft Wayne, IN, 46899

Disclaimer

The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.

We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************

TradeStalker's RBI Update 07/22/08

.................................................

TradeStalker's

R.B.I. Trader's Update

7 / 22 / 2008

(Published Since 1996)

...............................................


Dateline: 6:26 pm eastern time, 7/22/2008

** Please Note: Mike sends out numerous updates throughout
the trading day to our subscribers. Go here now to
subscribe: http://www.tradestalker.com/order-page.htm

NOTE: Due to a family outing, there will be no Intraday
Updates on Wednesday. The next update will be sent on
Wednesday night.

The market gapped down on Tuesday and the SP futures barely
broke the 1250.50-1249.50 support before getting its footing
and reversing. Off of a 1248.75 low, the first good "bounce"
took the SP futures to 1260.25 before stalling and
reversing. The pullback stopped at 1254.75 and buyers came
back in and the market made a run to the 1262.50-1263.00
resistance area on the SP futures. After a pullback to
1258.50 the market quickly reversed and popped back up to
make double tops. The 1263.50 level on the SP futures was
the lid, and the SP futures then sold off to 1257.50. In
very slow and choppy trading action, the SP futures went
back to the 1262.50-1263.00 area again, and just before 2 pm
they reversed again. A pullback to 1257.00 was reversed and
the market bounced back. With less than 90 minutes left in
stock trading, the SP futures finally broke out above the
1263.50 level and took off to the upside. The 1261.50 level
wasn't challenged, and the move accelerated in a straight up
move into the close.

We get the Fed's Beige Book release at 2 pm on Wednesday.
The SP futures rallied 21 points in the last 2 hours of
trading on Tuesday. On Wednesday, if there is early strength
it will set up a very good shorting opportunity as soon as
the upside stalls / reverses. If the market obliges, then
the initial support will need to hold on a pullback.
Otherwise, a drop to test the breakout areas from Tuesday
afternoon is likely.

The initial resistance is at the 1278.00-1278.75 area on the
SP futures and 1828.50-1829.00 area on the Nasdaq futures.
If the market gets back up there, and the move stalls or
quickly reverses, it should start a decent pullback.
However, if the market doesn't reverse from those areas,
then there should be some resistance at the 1282.00-1282.50
area on the SP futures and 1834.00-1834.50 area on the
Nasdaq futures. If those are not a problem, then a move
towards the 1287.50-1288.25 area on the SP futures and
1842.00-1843.00 area on the Nasdaq futures should reverse.
If the market gets up there, and is not sold, then a test of
the major, short term, resistance is at the 1292.00-1293.00
area on the SP futures. This zone should be key this month,
otherwise a high could come in August.

The initial support is at the 1269.00-1268.25 area on the SP
futures and 1815.50-1814.50 area on the Nasdaq futures. If
those are broken, and the market doesn't reverse, then a
drop towards the 1263.00-1262.25 area on the SP futures and
1807.50-1806.00 area on the Nasdaq futures could be in the
cards. If those areas a reached, and the market can reverse,
then a decent bounce could occur. If those areas do not
hold, then the key support is at the 1257.50-1257.00 area on
the SP futures and 1796.75-1796.00 area on the Nasdaq
futures. If those are broken, and the market doesn't
reverse, then a big reversal could be under way.



NOTE: Due to a family outing, there will be no Intraday
Updates on Wednesday. The next update will be sent on
Wednesday night.


September 2008 SP futures resistance
symbols: emini = esu8 / big contract =spu8

1278.00-1278.75
1282.00-1282.50
1287.50-1288.25
1292.00-1293.00 MAJOR

September 2008 SP futures support
symbols: emini = esu8 / big contract =spu8

1269.00-1268.25
1263.00-1262.25 KEY, especially on close
1257.50-1257.00
1249.75-1249.25

September 2008 Nasdaq futures resistance
symbols: emini = nqu8 / big contract = ndu8

1828.50-1829.00
1834.00-1834.50
1841.00-1843.00

September 2008 Nasdaq futures support
symbols: emini = nqu8 / big contract = ndu8

1815.50-1814.50
1807.50-1806.00
1796.75-1796.00

September 2008 Dow futures resistance
symbols: emini = ymu8

11603-11608
11639-11642
11658-11663

September 2008 Dow futures support
symbols: emini = ymu8

12537-12533
11478-11473
11452-11447

September 2008 Russell futures resistance
symbols: emini = er2u8 / big contract = er2u8

718.60-719.10
721.70-722.00
726.00-726.40

September 2008 Russell futures support
symbols: emini = er2u8 / big contract = er2u8

712.60-712.20
708.60-708.10
704.00-703.40


---------------------------

REMINDER:

Real Time subscribers can view these updates on
the web at this site:

http://www.tradestalker.com/members


---------------------------


Good Trading,
Mike Reed

Copyright (c) 2008 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.

www.TradeStalker.com

PO Box 9783, Ft Wayne, IN, 46899

Disclaimer

The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.

We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************

TradeStalker's RBI Update 07/21/08

.................................................

TradeStalker's

R.B.I. Trader's Update

7 / 21 / 2008

(Published Since 1996)

...............................................


Dateline: 6:33 pm eastern time, 7/21/2008


** Please Note: Mike sends out numerous updates throughout
the trading day to our subscribers. Go here now to
subscribe: http://www.tradestalker.com/order-page.htm

We wanted to get short if there was early strength just as
soon as the move stalled / reversed on Monday. The market
gapped up and the SP futures barely poked over the 1267
resistance before reversing about 30 minutes in. The selling
took the SP futures down to 1256.25 shortly after noon. The
market bounced back but then reversed at 1263.50, and
selling came back in. After holding 1259.00 support for
about half of an hour, that level finally broke and the
pressure was on again. The SP futures fell to a new low for
the day at 1255.00, but quickly reversed back over the
previous 1256.25 low and then move choppily higher into the
close.

The SP futures had back to back narrow range days, and range
expansion and/or a pickup in volatility usually follows. The
Vix dropped quite a bit over the past 2 days, showing a lot
of complacency. My RBI Sell gate was open still at Monday's
close.

Whatever the case, it's earning's season and after the close
several companies reported poor numbers. This has the market
down sharply as this is being written. If this holds
overnight, then a reversal in the first 20 minutes or so on
Tuesday could set up a trade on the long side. If that plays
out, the first decent bounce should set up a better odds
trade on the short side.

The initial resistance would be at the 1255.25-1256.25 area
on the SP futures and 1813.50-1815.75 area on the Nasdaq
futures. If the market opens a lot lower, then a bounce to
those zones that stalls out would set up a good shorting
opportunity. If those are broken, then there should be very
strong resistance at the 1263.00-1263.75 area on the SP
futures and 1831.00-1831.75 area on the Nasdaq futures. If
those areas are somehow broken, then the big resistance
areas are at the 1267.50-1268.00 area on the SP futures and
1841.00-1842.00 area on the Nasdaq futures.

The initial support is at the 1250.50-1249.50 area on the SP
futures and 1804.00-1803.50 area on the Nasdaq futures. If
those are broken, and the market can not quickly reverse and
hold those areas, then the door is open for a drop towards
the 1245.75-1245.00 area on the SP futures and 1798.25-
1797.50 area on the Nasdaq futures. If the market gets there
and still can not get turned back up, then the 1239.25-
1238.50 area on the SP futures and 1788.00-1786.50 area on
the Nasdaq futures could be in the cards. If those are
broken, the market could be on the way to testing the lows
from last week. The next key support would be at 1234.50,
and if that doesn't hold, then the 1225.50-1224.50 area is
the last good support zone in front of the 1200.75 low.


September 2008 SP futures resistance
symbols: emini = esu8 / big contract =spu8

1255.25-1256.25
1263.00-1263.75
1267.50-1268.00

September 2008 SP futures support
symbols: emini = esu8 / big contract =spu8

1250.50-1249.50
1245.75-1245.00
1239.25-1238.50
1234.50
1225.50

September 2008 Nasdaq futures resistance
symbols: emini = nqu8 / big contract = ndu8

1813.50-1815.75
1831.00-1831.75
1841.00-1842.00

September 2008 Nasdaq futures support
symbols: emini = nqu8 / big contract = ndu8

1804.00-1803.50
1798.25-1797.50
1788.00-1786.50

September 2008 Dow futures resistance
symbols: emini = ymu8

11400-11408
11470-11474
11543-11548

September 2008 Dow futures support
symbols: emini = ymu8

11364-11360
11337-11332
11278-11274

September 2008 Russell futures resistance
symbols: emini = er2u8 / big contract = er2u8

694.50-694.90
699.80-700.10
703.80-704.20

September 2008 Russell futures support
symbols: emini = er2u8 / big contract = er2u8

692.80-692.20
687.80-687.20
682.80-682.50


---------------------------

REMINDER:

Real Time subscribers can view these updates on
the web at this site:

http://www.tradestalker.com/members


---------------------------


Good Trading,
Mike Reed

Copyright (c) 2008 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.

www.TradeStalker.com

PO Box 9783, Ft Wayne, IN, 46899

Disclaimer

The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.

We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************

TradeStalker's RBI Update 07/20/08

.................................................

TradeStalker's

R.B.I. Trader's Update

7 / 20 / 2008

(Published Since 1996)

...............................................


Dateline: 4:33 pm eastern time, 7/20/2008

** Please Note: Mike sends out numerous updates throughout
the trading day to our subscribers. Go here now to
subscribe: http://www.tradestalker.com/order-page.htm

The market started last week will more selling, but after
reaching a new low for the year at 1200.75 on the SP futures
the market turned up and put together a rally that finally
stuck. By Thursday morning the SP futures reached 1263.00,
and then finally took a breather. On Friday we had
unexpected overnight strength, and the SP futures popped up
to our 1262.50-1263.00 resistance zone. The selling was
contained as the pullbacks held the 1252.00-1251.50 support
zone and the market closed the week on an up note.

The market kind of spun its wheels on Friday. The narrow
range at a high, along with a short term overbought status,
should lead to a pullback. On Monday look for early strength
to set up a shorting opportunity as soon as the move
stalls/reverses. If the market obliges, and a selloff stops
and turns from the initial support areas, then the pullback
would set up a buying opportunity. However, if the initial
support areas are reached and not quickly reversed, then the
short term trends could be rolling over. If that occurs,
then the downside could gather a bit of steam.

The initial resistance is at the 1262.50-1263.00 area on the
SP futures and 1832.50-1833.25 area on the Nasdaq futures.
If those are cleared and not quickly reversed, then the next
hurdles would be at the 1266.25-1267.00 area on the SP
futures and 1841.00-1842.00 area on the Nasdaq futures. If
the market gets there, and has no problem breaking trough
those areas, then a move towards the 1271.50-1272.50 area on
the SP futures and 1851.25-1852.75 area on the Nasdaq
futures could be in the cards before there is a decent
pullback.

The initial support is at the 1251.50-1250.75 area on the SP
futures and 1819.25-1818.25 area on the Nasdaq futures.
Those areas should be key support short term. If the bulls
don't defend those zones, then a move towards the 1245.75-
1245.00 area on the SP futures and 1807.75-1807.00 area on
the Nasdaq futures is likely. If the market gets there and
then turns up, a decent snap-back rally could occur.
However, if buyers don't step to the plate at those areas,
then a move to the 1239.25-1238.50 area on the SP futures
and 1798.25-1797.50 area on the Nasdaq futures would need to
hold. If they don't, then another trip down to test the lows
could be in the making.



September 2008 SP futures resistance
symbols: emini = esu8 / big contract =spu8

1262.50-1263.00
1266.25-1267.00
1271.50-1272.50

September 2008 SP futures support
symbols: emini = esu8 / big contract =spu8

1252.00-1251.50
1245.75-1245.00
1239.25-1238.50

September 2008 Nasdaq futures resistance
symbols: emini = nqu8 / big contract = ndu8

1832.50-1833.25
1841.00-1842.00
1851.25-1852.75

September 2008 Nasdaq futures support
symbols: emini = nqu8 / big contract = ndu8

1819.25-1818.25
1807.75-1807.00
1798.25-1797.50

September 2008 Dow futures resistance
symbols: emini = ymu8

11510-11514
11554-11559
11614-11618

September 2008 Dow futures support
symbols: emini = ymu8

11405-11399
11337-11332
11278-11274

September 2008 Russell futures resistance
symbols: emini = er2u8 / big contract = er2u8

693.80-694.40
697.10-697.50
701.20-701.70

September 2008 Russell futures support
symbols: emini = er2u8 / big contract = er2u8

687.80-687.20
682.80-682.50
674.50-673.80


---------------------------

REMINDER:

Real Time subscribers can view these updates on
the web at this site:

http://www.tradestalker.com/members


---------------------------


Good Trading,
Mike Reed

Copyright (c) 2008 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.

www.TradeStalker.com

PO Box 9783, Ft Wayne, IN, 46899

Disclaimer

The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.

We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************

TradeStalker's RBI Update 07/17/08

.................................................

TradeStalker's

R.B.I. Trader's Update

7 / 17 / 2008

(Published Since 1996)

...............................................


Dateline: 7:04 pm eastern time, 7/17/2008


** Please Note: Mike sends out numerous updates throughout
the trading day to our subscribers. Go here now to
subscribe: http://www.tradestalker.com/order-page.htm

The market gapped up on Thursday but after about 10 minutes
of trading the SP futures reversed from the 1258.00-1258.50
resistance zone. After pulling back to 1246.75, the SP
futures bounced to 1253.75 (just under the updated 1254
resistance) and reversed again. The selling took the market
down to the Wednesday settlement areas, and off of a 1241.00
low the market reversed back to the upside. The market
rallied about half way back, and the SP futures turned back
down from 1252.25. The pullback held at 1245.25 on the SP
futures and the market started a better rally. The 1258.50
level was broken, and held on a pullback, and then SP
futures ran up to 1263.00. That was just under the 1263.50-
1264.00 resistance and when the 1258.50 level was broken
they continued to go lower until reaching the 1252.25 level.
Things turned very choppy in the last hour, and while the
cash indexes rallied into the close, the futures plunged to
settle well below fair value.

After the bell Goggle announced earnings and it has the
market trading lower. The SP futures closed about 9 points
below fair value, and well below the SP500 cash close. The
Nasdaq futures settled about 20 points below the Nasdaq 100
cash close. After 2 good rally days, the market is going to
get hit hard early on Friday. Aside from the late day
damage, my RBI Sell gate is open. When this signal kicks in
it tends to offer great shorting opportunities.

On Friday morning, if the weakness holds overnight, look for
a rally attempt to occur in the first half hour of trading.
Just don't overstay your welcome on the long side, as the
first decent bounce that stalls out and/or reverses on
Friday should offer a very good shorting opportunity. The
1262.50-1263.00 area on the SP futures must be exceeded, and
not quickly reversed, to nullify the bearish pattern on
Friday.

If the market opens lower, then look for resistance at the
1251.50-1252.00 area on the SP futures and 1836.00-1837.00
area on the Nasdaq futures. Those areas will be sold if the
market is weak. If those areas are broken, and the market
doesn't quickly reverse, then a test of the 1262.50-1263.00
area on the SP futures and 1859.75-1860.25 area on the
Nasdaq futures could be in the cards. If that occurs, and
the move stalls or reverses, get short with a pretty tight
stop. If those areas are not a problem, then we could see a
move to the 1265.50-1266.00 area on the SP futures and
1865.75-1866.25 area on the Nasdaq futures before the market
turns back down.

There is minor support at the 1245.50 level on the SP
futures and 1824.50 level on the Nasdaq futures. If those
are cut through, then the 1241.00-1240.25 area on the SP
futures and 1818.25-1817.75 area on the Nasdaq futures will
need to be quickly reversed or else the market is in some
trouble. The next support is at the 1233.75-1233.25 area on
the SP futures and 1807.75-1807.00 area on the Nasdaq
futures. If the market gets there, and still can not turn
around, then a spill towards the 1224.50-1224.00 and/or
1798.25-1797.50 areas could be in the cards.


September 2008 SP futures resistance
symbols: emini = esu8 / big contract =spu8

1251.50-1252.00
1262.50-1263.00
1265.50-1266.00

September 2008 SP futures support
symbols: emini = esu8 / big contract =spu8

1245.50
1241.00-1240.25
1233.75-1233.25
1224.50-1224.00

September 2008 Nasdaq futures resistance
symbols: emini = nqu8 / big contract = ndu8

1836.00-1837.00
1859.75-1860.25
1865.75-1866.25

September 2008 Nasdaq futures support
symbols: emini = nqu8 / big contract = ndu8

1818.25-1817.75
1807.75-1807.00
1798.25-1797.50

September 2008 Dow futures resistance
symbols: emini = ymu8

11384-11387
11437-11443
11471-11476

September 2008 Dow futures support
symbols: emini = ymu8

11337
11302-11298
11210-11205
11097-11094

September 2008 Russell futures resistance
symbols: emini = er2u8 / big contract = er2u8

690.40-691.10
697.10-697.50
699.80-700.20

September 2008 Russell futures support
symbols: emini = er2u8 / big contract = er2u8

684.20
682.80-682.50
674.50-673.80
667.30-666.80

---------------------------

REMINDER:

Real Time subscribers can view these updates on
the web at this site:

http://www.tradestalker.com/members


---------------------------


Good Trading,
Mike Reed

Copyright (c) 2008 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.

www.TradeStalker.com

PO Box 9783, Ft Wayne, IN, 46899

Disclaimer

The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.

We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************

TradeStalker's RBI Update 07/16/08

.................................................

TradeStalker's

R.B.I. Trader's Update

7 / 16 / 2008

(Published Since 1996)

...............................................


Dateline: 6:44 pm eastern time, 7/16/2008

** Please Note: Mike sends out numerous updates throughout
the trading day to our subscribers. Go here now to
subscribe: http://www.tradestalker.com/order-page.htm

The market opened higher on Wednesday and then pulled back
to 1211.50 on the SP futures and reversed. They quickly ran
up to 1225.25 and then just as quick they dropped back to
1214.25. The market reversed back to the upside and
encountered some trouble at the 1228.50 resistance level.
The pullback held at 1220.25 which was just over good
support, and the market turned back up. A good run to
1233.50 stalled out, and the SP futures pulled back to
1227.25 and turned back up. The kept going until reaching
the updated resistance at 1239.50-1240.50. Off of a 1239.50
high, the SP futures pulled back 5.25 points to 1235.25 and
then turned back up. The steady buying continued until the
4pm close for stocks as the SP futures made it to a 1246.25
high. After the averages closed at their highs, the SP
futures dropped 5 points and settled well under fair value.

This move has the potential to be the first one that sticks.
First though, it looks like the market needs to pull back.
How far that pullback goes will be important as to whether
or not a decent trading bottom is in place. The rally in the
last 2 hours was parabolic, and with the futures selling off
after stocks closed, the upside momentum was dented a bit.
If the market can hold the 1233.75-1233.25 area on the SP
futures and 1832.00-1831.00 area on the Nasdaq futures on a
pullback, or quickly reverse if they are broken, the bulls
get the benefit of any doubts. However, if those areas are
broken and not quickly reversed, then the market could be
getting itself in trouble again.

On Thursday look to get short if there is an early pop that
stalls or reverses, especially if there is a test of the
1245.50-1246.25 area on the SP futures and/or 1849.00-
1850.25 area on the Nasdaq futures. If the market obliges
and pulls back, beware that the first decent pullback should
set up a buying opportunity as soon as the downside momentum
stalls, especially if the move gets close to the 1233.75-
1233.25 area on the SP futures and 1832.00-1831.00 area on
the Nasdaq futures and reverses. Thereafter, expect two-
sided action as back to back trend days isn't likely.

The initial resistance is at the 1245.50-1246.25 area on the
SP futures and 1849.00-1850.25 area on the Nasdaq futures.
If there is a pop and reversal from those areas, it would
set up a good trade on the short side. However, if those
areas are exceeded and not quickly reversed, then we could
see a move towards the 1250.50-1252.00 area on the SP
futures and 1860.25-1862.00 area on the Nasdaq futures. If
those areas are not a problem, then the big resistance is at
the 1258.00-1258.50 area on the SP futures.

The initial support is at the 1239.25-1238.75 area on the SP
futures and 1840.00-1839.00 area on the Nasdaq futures. If
those are broken and the market doesn't quickly turn back
up, then it opens the door for a move down to test the
1233.75-1233.25 area on the SP futures and 1832.00-1831.00
area on the Nasdaq futures. If those areas are reached, and
the move stalls, then a decent bounce back to the upside is
likely. If the market doesn't show any signs of turning from
those areas, then the market could fall towards the 1227.50-
1227.00 area on the SP futures and 1824.50-1824.00 area on
the Nasdaq futures. If those areas are reached, and the
market still can not turn around, then the key support is at
the 1223.50-1223.00 area on the SP futures and 1807.75-
1807.00 area on the Nasdaq futures. If the market gets back
to those areas and still shows no signs of turning back up,
then the market is back in trouble and a move towards the
1218.50-1217.75 and/or 1797.50-1796.50 areas might be in the
cards before a turn around occurs.


September 2008 SP futures resistance
symbols: emini = esu8 / big contract =spu8

1245.50-1246.25
1250.50-1252.00
1258.00-1258.50

September 2008 SP futures support
symbols: emini = esu8 / big contract =spu8

1239.25-1238.75
1233.75-1233.25
1227.50-1227.00
1223.50-1223.00
1218.50-1217.75

September 2008 Nasdaq futures resistance
symbols: emini = nqu8 / big contract = ndu8

1849.00-1850.25
1860.25-1862.00

September 2008 Nasdaq futures support
symbols: emini = nqu8 / big contract = ndu8

1840.00-1839.00
1832.00-1831.00
1824.50-1824.00
1807.75-1807.00
1797.50-1796.50

September 2008 Dow futures resistance
symbols: emini = ymu8

11228-11232
11273-11278

September 2008 Dow futures support
symbols: emini = ymu8

11121-11188
11150-11145
11084-11077
11038-11033
10994-10988

September 2008 Russell futures resistance
symbols: emini = er2u8 / big contract = er2u8

686.50-687.00
690.20-690.70

September 2008 Russell futures support
symbols: emini = er2u8 / big contract = er2u8

683.20-683.00
678.90-678.50
674.50-673.80
671.20-670.80
666.50-666.20

---------------------------

REMINDER:

Real Time subscribers can view these updates on
the web at this site:

http://www.tradestalker.com/members


---------------------------


Good Trading,
Mike Reed

Copyright (c) 2008 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.

www.TradeStalker.com

PO Box 9783, Ft Wayne, IN, 46899

Disclaimer

The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.

We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************

TradeStalker's RBI Update 07/15/08

.................................................

TradeStalker's

R.B.I. Trader's Update

7 / 15 / 2008

(Published Since 1996)

...............................................


Dateline: 6:05 pm eastern time, 7/15/2008

** Please Note: Mike sends out numerous updates throughout
the trading day to our subscribers. Go here now to
subscribe: http://www.tradestalker.com/order-page.htm

The market gapped down on Tuesday and the selling continued
until the SP futures reached 1220.75 about 40 minutes into
the trading day. Buyers stepped to the plate and the market
rallied back to the Monday lows. The SP futures just missed
filling its gap, and from 1224.50 they dropped 13 points to
1211.50 just before noon. That move was reversed, and the
market worked its way to a 1233.50 high just after 1pm. The
market backed off, but a 12.25 point pullback to the 1221.25
level on the SP futures stopped the selling and the market
bounced back. A pop to a lower high at 1228.50 was reversed,
but the pullback held the 1222.00-1221.50 updated support
and turned back up. The rally took the market to new highs
for the day, but the move fizzled and reversed after
reaching 1235.50 on the SP futures. The selling started with
about 40 minutes left in stock trading, and with the
1222.00-1221.50 zone unable to hold, the market sold off
into the close.

The bear market action continues. Except for the poor
internals, the market acted pretty well after a big gap down
open and a first hour reversal. However, the market refuses
to hold on to gains, and the last hour regurgitation by the
bulls turned all of the trends back down. So the beat goes
on.

We get the CPI before the open on Wednesday, and the FOMC
Minutes at 2pm.The market was, for the most part, trend down
on Monday and trend up on Tuesday. This should lead to more
volatility, and maybe a big move. The SP futures need to get
back over the 1221.50-1222.00 zone and not quickly reverse
to get the market back into neutral territory. The market is
a short on bounces unless that area is broken and held on
Wednesday.

The initial resistance is at the 1215.00 level on the SP
futures and 1808.00 level on the Nasdaq futures. The key
resistance is at the 1221.50-1222.00 area on the SP futures
and 1819.00-1820.00 area on the Nasdaq futures. If the
market gets back over those areas, and doesn't quickly
reverse, then the door would be open for a sprint towards
the 1235.50-1236.00 area on the SP futures and 1833.00-
1834.00 area on the Nasdaq futures.

The initial support is at the 1210.50-1209.75 area on the SP
futures and 1798.00-1797.00 area on the Nasdaq futures. If
those areas do not hold, then a drop towards the 1201.00-
1200.50 area on the SP futures and 1783.00-1782.00 area on
the Nasdaq futures could be in the cards. If the market gets
back down there and can reverse back to the upside, a decent
rally could begin. However, if those are broken and not
quickly reverse, then the 1196.50-1195.50 area on the SP
futures and 1766.00-1765.00 area on the Nasdaq futures are
likely in the cards. If the market doesn't turn around from
there, then the market could unwind pretty fast. The major
is at the 1173.00-1172.00 area on the SP futures, which
could be a magnet, and also a good spot for a rally to
begin.

September 2008 SP futures resistance
symbols: emini = esu8 / big contract =spu8

1215.00
1221.50-1222.00
1228.50 minor
1235.50-1236.00

September 2008 SP futures support
symbols: emini = esu8 / big contract =spu8

1210.50-1209.75
1201.00-1200.50
1196.50-1195.50
1173.00-1172.00 major

September 2008 Nasdaq futures resistance
symbols: emini = nqu8 / big contract = ndu8

1808.00
1819.00-1820.00
1833.00-1834.00

September 2008 Nasdaq futures support
symbols: emini = nqu8 / big contract = ndu8

1798.00-1797.00
1783.00-1782.00
1766.00-1765.00

September 2008 Dow futures resistance
symbols: emini = ymu8

10940
11000-11008
11192-11196

September 2008 Dow futures support
symbols: emini = ymu8

10906-10899
10836-10834
10789-10782

September 2008 Russell futures resistance
symbols: emini = er2u8 / big contract = er2u8

665.20
667.70-668.10
674.50-675.00

September 2008 Russell futures support
symbols: emini = er2u8 / big contract = er2u8

657.30-656.50
650.50-649.70
646.00-645.50


---------------------------

REMINDER:

Real Time subscribers can view these updates on
the web at this site:

http://www.tradestalker.com/members


---------------------------


Good Trading,
Mike Reed

Copyright (c) 2008 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.

www.TradeStalker.com

PO Box 9783, Ft Wayne, IN, 46899

Disclaimer

The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.

We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************

TradeStalker's RBI Update 07/14/08

.................................................

TradeStalker's

R.B.I. Trader's Update

7/14/2008

(Published Since 1996)

...............................................


Dateline: 6:28 pm eastern time, 7/14/2008

** Please Note: Mike sends out numerous updates throughout
the trading day to our subscribers. Go here now to
subscribe: http://www.tradestalker.com/order-page.htm

The market opened much higher on Monday, but the emotional
strength was sold and the market was driven lower. The SP
futures reached 1256.00 just 2 minutes after the open and
sold off 15.75 points to 1240.25 in just 33 minutes, and
then the market bounced back. The bounce stalled at 1247.25,
and a slinky pattern formed before the market dropped to new
lows. The SP futures reached the 1236.00-1235.50 support
zone and tried to bounce, but there was no oomph to the move
and the trend down action continued. The SP futures fell to
test Friday's low and bounced off of a 1225.75 low, but
there was a lid at the 1232.00 level and the market backed
down again. A slightly lower low was made at 1224.75, and
the market reversed and took out that 1232.00 level on the
way to a 1234.75 high. The move ran out of steam and the
market dropped again. The 1225.75 level held and the market
quickly reversed. The market caught a bid and shot higher in
the last hour. However, after running up to 1238.75 on the
SP futures, the market reversed again and then sold off to
close near the lows for the day.

On Tuesday we get Retail Sales before the open. In order to
put a dent in the downside momentum, the 1238.25-1238.75
area on the SP futures and the 1819.25-1820.00 area on the
Nasdaq futures will need to be broken, and not quickly
reversed. On the bottom side, the SP futures tested the
1225.75-1225.00 area 4 times now, and that must be defended
or the they could slide towards the 1218.00-1217.00 area
before a reversal attempt.

If there is early strength on Tuesday, get short when the
upside stalls out / reverses. If that plays out, beware that
if the Monday lows are broken, and then they are quickly
reversed, it could spark a quick rally. In the case of a
lower open, be on lookout for a reversal in the early going.
If there is early weakness that stalls and reverses from
that 1218.00-1217.00 area on the SP futures, it could begin
a tradable bounce. Thereafter, the short side on the bounces
should still offer the better odds trading opportunities.

The initial resistance is at the 1238.25-1238.75 area on the
SP futures and 1819.25-1820.00 area on the Nasdaq futures.
If a bounce doesn't fail at those levels, then things could
be changing short term. The 1245.75 level on the SP futures
and 1828.50 level on the Nasdaq futures should be tough to
get through, but if those levels are not a problem, then the
major resistance at the 1257.50-1258.50 and 1846.50-1848.00
would be next. Don't hold your breath.

The initial support is at the 1225.75-1225.00 area on the SP
futures and 1797.50-1796.75 area on the Nasdaq futures.
Those areas will need to hold, or be quickly reversed if
broken, otherwise the market is still in trouble. The
1218.00-1217.00 area on the SP futures and 1785.75-1784.75
area on the Nasdaq futures could be magnets if that support
doesn't hold. If those areas are broken, then we could see
the market work its way towards the 1209.00-1208.00 area on
the SP futures and 1775.25-1774.50 area on the Nasdaq
futures before any kind of turn around occurs.

September 2008 SP futures resistance
symbols: emini = esu8 / big contract =spu8

1238.25-1238.75
1245.75
1257.50-1258.50

September 2008 SP futures support
symbols: emini = esu8 / big contract =spu8

1225.75-1225.00
1218.00-1217.00
1209.00-1208.00

September 2008 Nasdaq futures resistance
symbols: emini = nqu8 / big contract = ndu8

1819.25-1820.00
1828.50
1846.50-1848.00

September 2008 Nasdaq futures support
symbols: emini = nqu8 / big contract = ndu8

1797.50-1796.75
1785.75-1784.75
1775.25-1774.50

September 2008 Dow futures resistance
symbols: emini = ymu8

11115-11119
11152
11224-11229

September 2008 Dow futures support
symbols: emini = ymu8

10988-10982
10922-10918
10826-10822

September 2008 Russell futures resistance
symbols: emini = er2u8 / big contract = er2u8

667.70-668.20
674.20
680.20-680.40

September 2008 Russell futures support
symbols: emini = er2u8 / big contract = er2u8

659.90-659.50
654.50-654.20
648.20-647.80

---------------------------

REMINDER:

Real Time subscribers can view these updates on
the web at this site:

http://www.tradestalker.com/members


---------------------------


Good Trading,
Mike Reed

Copyright (c) 2008 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.

www.TradeStalker.com

PO Box 9783, Ft Wayne, IN, 46899

Disclaimer

The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.

We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************

TradeStalker's RBI Update 07/13/08

.................................................

TradeStalker's

R.B.I. Trader's Update

7 / 13 / 2008

(Published Since 1996)

...............................................


Dateline: 5:38 pm eastern time, 7/13/2008

** Please Note: Mike sends out numerous updates throughout
the trading day to our subscribers. Go here now to
subscribe: http://www.tradestalker.com/order-page.htm

The Friday action started with a big gap down open and that
reversed after about 15 minutes of trading. The SP futures
rallied to 1247.00 and then reversed. It was a trend down
day until reversing off of a new yearly low at 1225.75 on
the SP futures and then the market bounced back. The
volatility really picked up in the afternoon. After a rally
to 1241.00 on the SP futures, they dropped pretty fast to
1229.75 and then turned up. That move took off with gusto
and the SP futures rallied all the way up to 1258.50. That
was the initial resistance for the day, and the parabolic
move then quickly reversed. The SP futures dropped 22.75
points to 1235.75 and then firmed up into the close.

Until the market can show some ability to hold on to gains,
the short side on the rallies should offer the better
trading opportunities. The SP500 cash reached 1225 on
Friday. That's another new low for the year and years ending
with an "8" normally don't do that. It's usually just the
opposite, with a rally into the election. That's not good
for the market and we could see the 50% retracement of the
rally from 769 to 1576 at 1172.50 reached before any kind of
turn around will begin. Short term, the 1258.50 level on the
SP futures must be exceeded and held on a pullback, to get
out of trouble.

The initial resistance is at the 1258.00-1258.50 area on the
SP futures and the 1845.50-1846.25 area on the Nasdaq
futures. If the market is still weak, a rally back to those
areas will be sold. If those are broken and the market
doesn't quickly reverse, then we could see a run up towards
the 1265.00-1265.50 area on the SP futures and the 1853.50-
1854.25 area on the Nasdaq futures. That would be a good
move in this environment, so if the market gets up there,
beware of a reversal. If that doesn't happen and the market
has reason to rally in a strong fashion, then we could see
the 1270.00-1270.50 area on the SP futures and the 1864.50-
1864.75 area on the Nasdaq futures. That's as far as a rally
should go, if we get a decent rally.

The initial support is at the 1236.00-1235.50 area on the SP
futures and the 1808.50-1807.50 area on the Nasdaq futures.
Those areas will need to hold, otherwise the 1230.00 level
on the SP futures and the 1798.50 level on the Nasdaq
futures will likely be tested. If those levels are not
defended, then the 1225.50-1225.00 area on the SP futures
and the 1788.75-1788.00 area on the Nasdaq futures will need
to hold and make a double bottom or else a move to the
1218.00-1217.00 area on the SP futures and the 1775.75-
1774.75 area on the Nasdaq futures is next. If the market
gets hit again on Monday, then the 1209.00-1208.00 area on
the SP futures and the 1762.00-1760.50 area on the Nasdaq
futures would be the last good support zones in the way of a
bad day for the market on Monday.

September 2008 SP futures resistance
symbols: emini = esu8 / big contract =spu8

1258.00-1258.50
1265.00-1265.50
1270.00-1270.50


September 2008 SP futures support
symbols: emini = esu8 / big contract =spu8

1236.00-1235.50
1230.00
1225.50-1225.00
1218.00-1217.00
1209.00-1208.00


September 2008 Nasdaq futures resistance
symbols: emini = nqu8 / big contract = ndu8

1845.50-1846.25
1853.50-1854.25
1864.50-1864.75


September 2008 Nasdaq futures support
symbols: emini = nqu8 / big contract = ndu8

1808.50-1807.50
1798.50
1788.75-1788.00
1775.75-1774.75
1762.00-1760.50


September 2008 Dow futures resistance
symbols: emini = ymu8

11229-11231
11281-11283
11330-11334


September 2008 Dow futures support
symbols: emini = ymu8

11058-11051
10990
10965-10962
10894-10888
10826-10822


September 2008 Russell futures resistance
symbols: emini = er2u8 / big contract = er2u8

679.00-679.30
684.20-684.50
688.50-688.80


September 2008 Russell futures support
symbols: emini = er2u8 / big contract = er2u8

668.70-668.30
663.00
657.90-657.50
651.50-651.20
646.50-646.00


---------------------------

REMINDER:

Real Time subscribers can view these updates on
the web at this site:

http://www.tradestalker.com/members


---------------------------


Good Trading,
Mike Reed

Copyright (c) 2008 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.

www.TradeStalker.com

PO Box 9783, Ft Wayne, IN, 46899

Disclaimer

The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.

We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************

TradeStalker's RBI Update 07/10/08

.................................................

TradeStalker's

R.B.I. Trader's Update

7 / 10 / 2008

(Published Since 1996)

...............................................


Dateline: 6:08 pm eastern time, 7/10/2008

** Please Note: Mike sends out numerous updates throughout
the trading day to our subscribers. Go here now to
subscribe: http://www.tradestalker.com/order-page.htm

The early game-plan for Thursday was to look for a trade on
the long side if there was early weakness that reversed, but
weren't going to fall in love with the long side. The market
opened slightly lower on Thursday and quickly reversed, as
the SP futures bounced from 1243.75 to the 1253.75 in the
first 25 minutes of trading. The initial resistance was at
1254.00, and the move stalled and reversed from just under
that level. The selling took the SP futures to a new low for
the year, reaching 1237.50 and then the move stalled and
reversed. After a little struggle at the early high, the SP
futures pulled back to the 1246.50 updated support and
quickly reversed. The SP futures ran up to the 1258.00-
1258.50 resistance zone and the move lost steam. After poke
up to 1258.75 was rejected, the market started selling off.
The channel that had formed was broken, and the downside
accelerated as the SP futures dropped to a token lower low
at 1237.00 with just over an hour left in stock trading. The
market bounced back up to the area of the breakdown, with
the SP futures reaching 1251.00 and then after pulling back
to 1243.25 the market bounced back nicely into the close.

The SP futures made a double bottom and closed on a good
note on Thursday. The SP futures have been in a wide range
between basically 1278 on top to 1237 on the bottom. They
ended the day near the middle of that range. This kind of
volatility tends to occur near market bottoms, while it's
usually the opposite (low volatility and narrow ranges) at
tops. In any case, it looks like the market is safe as long
as the 1237 level on the SP futures isn't broken.

We get the Michigan sentiment survey 30 minutes into the
trading day on Friday. If there is follow through strength,
and the move stalls and reverses in the early going, then it
should set up a trade on the short side. Thereafter, look
for the first decent selloff to set up a buying opportunity.
With the market swinging both ways, look for the quick
rallies to fizzle for shorting opportunities, and the sharp
drops that reverse to set up trades on the long side.

The initial resistance is at the 1258.50 level on the SP
futures and 1852.75 level on the Nasdaq futures. If those
are broken, then buying dips will likely be in order. The
next good resistance would be near the 1265.00-1265.50 area
on the SP futures and 1864.00-1865.00 area on the Nasdaq
futures. If those are reached, and the market doesn't
reverse, then the next big hurdles would be at the 1270.00-
1270.50 area on the SP futures and 1868.50-1869.50 area on
the Nasdaq futures. If the market gets up there, and still
doesn't reverse, then the major resistance on Friday is at
the 1278.00-1278.75 area on the SP futures and 1876.75-
1877.50 area on the Nasdaq futures.

The initial support is at the 1243.50-1243.00 area on the SP
futures and 1828.00-1827.25 area on the Nasdaq futures.
Those areas will hold if the market is in decent shape. If
they don't hold, then the major support is at the 1237.00-
1236.25 area on the SP futures and 1810.50-1809.50 area on
the Nasdaq futures. If the market gets back down there, and
does not quickly reverse and bounce with some gusto, then
the downside could gather more momentum and end the week
badly.


September 2008 SP futures resistance
symbols: emini = esu8 / big contract =spu8

1258.50
1265.00-1265.50
1270.00-1270.50
1278.00-1278.75

September 2008 SP futures support
symbols: emini = esu8 / big contract =spu8

1243.50-1243.00
1237.00-1236.25
1229.00-1228.00

September 2008 Nasdaq futures resistance
symbols: emini = nqu8 / big contract = ndu8

1852.75
1864.00-1865.00
1868.50-1869.50
1876.75-1877.50

September 2008 Nasdaq futures support
symbols: emini = nqu8 / big contract = ndu8

1828.00-1827.25
1810.50-1809.50

September 2008 Dow futures resistance
symbols: emini = ymu8

11260
11281-11283
11330-11334

September 2008 Dow futures support
symbols: emini = ymu8

11127-11123
11073-11068

September 2008 Russell futures resistance
symbols: emini = er2u8 / big contract = er2u8

676.00
680.20-680.70
684.20-684.50

September 2008 Russell futures support
symbols: emini = er2u8 / big contract = er2u8

665.90-665.30
660.90-660.50


---------------------------

REMINDER:

Real Time subscribers can view these updates on
the web at this site:

http://www.tradestalker.com/members


---------------------------


Good Trading,
Mike Reed

Copyright (c) 2008 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.

www.TradeStalker.com

PO Box 9783, Ft Wayne, IN, 46899

Disclaimer

The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.

We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************

TradeStalker's RBI Update 07/09/08

.................................................

TradeStalker's

R.B.I. Trader's Update

7 / 9 / 2008

(Published Since 1996)

...............................................


Dateline: 6:49 pm eastern time, 7/9/2008

** Please Note: Mike sends out numerous updates throughout
the trading day to our subscribers. Go here now to
subscribe: http://www.tradestalker.com/order-page.htm

We were looking to short early strength that stalled and
reversed on Wednesday, and just 6 minutes into trading we
got just that. The SP futures popped up to 1278.75, stalled
for about 10 seconds, then dropped 9.50 points to 1269.25.
The first pullback was reversed, but I warned that a double
top could be in the making. The market did just that, and
the SP futures pulled back 5.75 points before bouncing
again. Then the market made a triangle pattern, and after
the break down, a bounce to 1275.50 was quickly reversed and
the SP futures fell to the key support at the 1265.00-
1264.50 zone. In the 5th intraday update the 1270.50 level
was given as new resistance, and the SP futures reached
1270.25 and reversed again. That set up a quick short as the
SP futures went into a range. A clean break of the range was
needed to get anything going, after the breakdown a good
entry / re-entry occurred around 2:45 pm as the SP futures
poked to bottom of the range at 1264.25 and turned down
again. The move continued until the SP futures reached
1244.75 at the 4 pm close for stocks and then firmed a bit
into settlement.

On Thursday there could be a buying opportunity if the
market opens lower and can turn back up in the very early
going. If that plays out, don't fall in love with the long
side as the bears are back in control. The SP futures need
to break and hold the 1257.50-1258.25 zone to just get back
to neutral, and even then a rally likely won't stick unless
there is an outside influence that causes a rally. Left on
its own, the path of least resistance will be to the
downside.

The initial resistance is at the 1254.00 level on the SP
futures and the 1838.75 level on the Nasdaq futures. If
those are cleared, then the 1257.50-1258.25 area on the SP
futures and the 1844.75-1845.75 area on the Nasdaq futures
should be key. If the market gets there and doesn't reverse,
then the 1265.00-1265.50 area on the SP futures and the
1853.50-1854.25 area on the Nasdaq futures should offer
strong resistance. If they are not sold, then the 1270.00-
1270.50 area on the SP futures and the 1864.00-1865.00 area
on the Nasdaq futures would be the next big hurdles on
Thursday.

The initial support is at the 1241.00 level on the SP
futures and the 1823.75 level on the Nasdaq futures. If
broken, then key support is at the 1236.00-1235.50 area on
the SP futures and the 1814.00-1813.00 area on the Nasdaq
futures. If there isn't a reversal from there, then the
1229.00-1228.00 area on the SP futures and the 1803.00-
1802.00 on the Nasdaq futures could be seen. If those don't
hold, then the 1218.00 level could be in the cards. The next
major support is at the 1173.50-1172.50 area on the SP
futures.

September 2008 SP futures resistance
symbols: emini = esu8 / big contract =spu8

1254.00
1257.50-1258.25
1265.00-1265.50
1270.00-1270.50


September 2008 SP futures support
symbols: emini = esu8 / big contract =spu8

1241.00
1236.00-1235.50
1229.00-1228.00
1218.00
1173.50-1172.50


September 2008 Nasdaq futures resistance
symbols: emini = nqu8 / big contract = ndu8

1838.75
1844.75-1845.75
1853.50-1854.25
1864.00-1865.00


September 2008 Nasdaq futures support
symbols: emini = nqu8 / big contract = ndu8

1823.75
1814.00-1813.00
1803.00-1802.00


September 2008 Dow futures resistance
symbols: emini = ymu8

11203
11228-11233
11281-11283
11330-11334


September 2008 Dow futures support
symbols: emini = ymu8

11130
11081-11077
11012-11006


September 2008 Russell futures resistance
symbols: emini = er2u8 / big contract = er2u8

668.00
669.60-670.20
673.70-674.20
678.20-678.70


September 2008 Russell futures support
symbols: emini = er2u8 / big contract = er2u8

661.00
657.00-656.60
652.10-651.70


---------------------------

REMINDER:

Real Time subscribers can view these updates on
the web at this site:

http://www.tradestalker.com/members


---------------------------


Good Trading,
Mike Reed

Copyright (c) 2008 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.

www.TradeStalker.com

PO Box 9783, Ft Wayne, IN, 46899

Disclaimer

The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.

We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************

TradeStalker's RBI Update 07/08/08

.................................................

TradeStalker's

R.B.I. Trader's Update

7 / 8 / 2008

(Published Since 1996)

...............................................


Dateline: 6:15 pm eastern time, 7/8/2008


We wanted to buy early weakness on Tuesday, and also had
"pretty strong support at the 1248.50-1248.00 area on the SP
futures" and the first dip nailed 1248.00 and bounced 9.75
points to 1257.75. After testing 1248.00 again, they bounced
8.75 points to 1256.75 and fell back again. That 1248.00
support was broken and the market dropped a bit further to
1244.00 on the SP futures, and the move reversed. A rally up
to 1261.00 followed, and after a shallow pullback, the
market tested the highs and reversed. With a double top in
place, the market sold off and the SP futures dropped to
test 1250. That was able to hold, and the move back over
1254 on the SP futures took the pressure off and the market
took off to the upside. After blowing through the highs the
move was steadily bought and the market rallied strongly.
The move lasted into the final minutes of stock trading with
the SP futures poking through the 1274.50-1275.00 zone
before pulling back into settlement time.

The move on Tuesday finally relieved the oversold condition
of the daily indicators. The market might have a short term
bottom in place. However, even if that's the case, there
will not be a non-stop rally to the major 1293-1294 area on
the SP futures.

The afternoon rally on Tuesday was short-term parabolic. So,
on Wednesday, if there is early strength and the move stalls
and reverses, it should set the stage for a decent sized
pullback. However, if the market obliges, beware that the
first decent pullback will likely set up a buying
opportunity as soon as the downside momentum stalls and the
move reverses. As long as a pullback holds over the 1268.50-
1268.00 area on the SP futures, the upside momentum will
remain intact. If that area doesn't hold, then the key
support on Wednesday is at the 1250.75-1250.25 area from
where the afternoon rally started on Tuesday. If the market
gets down there, and can't quickly turn around, then we
could see some "get me out" type of panic selling. If that
happens, and the 1241.00 low doesn't hold, then the market
could come unraveled and a move towards the 1237-1236 area
would be the last key support above the 1228 level.

The initial resistance is at the 1275.75-1276.25 area on the
SP futures and the 1875.50-1876.75 area on the Nasdaq
futures. If those are not rejected, then the next good
resistance is at the 1285.75-1286.25 area on the SP futures
and the 1884.50-1885.00 area on the Nasdaq futures. If the
market doesn't have trouble getting through those areas,
then there should key resistance at the 1293.00-1294.00 area
on the SP futures and the 1896.00-1897.00 area on the Nasdaq
futures. If the market gets up there, it should reverse and
head back down if this is just a bounce in the bear market.
However, if the market gets through those areas, the market
could keep going and head for the 1297-1298 zone on the SP
futures.

The initial support is at the 1268.50-1268.00 area on the SP
futures and the 1863.25-1862.25 area on the Nasdaq futures.
If there is a gentle pullback to those areas and the market
turns back up, then the rally should continue. If those
areas are broken, then there should be good support at the
1261.00-1260.50 area on the SP futures and the 1856.75-
1856.00 area on the Nasdaq futures. If those are reached and
the market doesn't quickly turn up, then the downside could
pick up steam. The key support would be at the 1250.75-
1250.25 area on the SP futures and the 1839.25-1838.25 area
on the Nasdaq futures.



September 2008 SP futures resistance
symbols: emini = esu8 / big contract =spu8

1275.75-1276.25
1285.75-1286.25
1293.00-1294.00
1297-1298


September 2008 SP futures support
symbols: emini = esu8 / big contract =spu8

1268.50-1268.00
1261.00-1260.50
1250.75-1250.25


September 2008 Nasdaq futures resistance
symbols: emini = nqu8 / big contract = ndu8

1875.50-1876.75
1884.50-1885.00
1896.00-1897.00


September 2008 Nasdaq futures support
symbols: emini = nqu8 / big contract = ndu8

1863.25-1862.25
1856.75-1856.00
1839.25-1838.25


September 2008 Dow futures resistance
symbols: emini = ymu8

11383-11387
11473-11478
11522-11528


September 2008 Dow futures support
symbols: emini = ymu8

11337-11333
11298-11294
11207-11203


September 2008 Russell futures resistance
symbols: emini = er2u8 / big contract = er2u8

683.70-684.20
690.60-691.10
695.30-695.80


September 2008 Russell futures support
symbols: emini = er2u8 / big contract = er2u8

673.80-673.50
666.80-666.20
659.50-659.10


---------------------------

REMINDER:

Real Time subscribers can view these updates on
the web at this site:

http://www.tradestalker.com/members


---------------------------


Good Trading,
Mike Reed

Copyright (c) 2008 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.

www.TradeStalker.com

PO Box 9783, Ft Wayne, IN, 46899

Disclaimer

The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.

We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************

TradeStalker's RBI Update 07/07/08

.................................................

TradeStalker's

R.B.I. Trader's Update

7 / 07 / 2008

(Published Since 1996)

...............................................


Dateline: 6:05 pm eastern time, 7/07/2008

Trading updates are posted through out the day to "real
time" subscribers on our Instant Messenger Site. Go here to
sign up now! http://www.tradestalker.com/order-page.htm

The market opened higher on Monday and the SP futures
rallied through the 1273 resistance, but the move stalled
out after reaching 1275.00 and the market pulled back. A
bounce to a lower high at 1273.50 was reversed, and the
market headed back to test the early lows. Once the 1268.00
level was broken, the bears defended that level on a bounce,
and then the downside gathered some steam. The selling was
steady as the SP futures reached 1242.00 just after 1pm. A
bounce failed and the market averages all dropped to make
slightly lower lows. The SP futures reached 1240.75 and
quickly reversed, and then the market bounced back. The
1248.50-1249.00 area on the SP futures was tested, and then
the SP futures fell back to 1242.00 before turning back up.
That 1248.50-1249.00 area on the SP futures was then broken,
and a rally started with an hour left in stock trading. The
SP futures rallied to 1265.00 while the Nasdaq futures
almost reached the morning high, but the bulls couldn't hold
the gains and the market sold off into the close.

The SP500 cash and futures made outside days, with higher
highs and lower lows than last Thursday. The two-sided
action will likely continue on Tuesday. In the early going,
look for an early drop that reverses to set up a trade on
the long side. If there is early strength instead, then it
should set up a shorting opportunity as soon as the upside
momentum stalls. Thereafter, look for reactions around
support and resistance zones until the market gets out of
the Monday ranges.

The initial resistance is at the 1264.25-1265.00 area on the
SP futures and 1849.00-1850.00 area the Nasdaq futures. If
the market gets back to those areas, and does not quickly
reverse, then the 1274.50-1275.00 area on the SP futures and
1858.75-1860.50 area the Nasdaq futures. If the market gets
back up to those areas, they should be tough to get through.
However, if those areas are cleared, and the rally doesn't
stall and then reverse, then it would open the door for a
strong rally and the big hurdles would be at the 1285.75-
1286.25 area on the SP futures and 1880.50-1882.00 area the
Nasdaq futures.

The initial support is at the 1251.50-1251.25 area on the SP
futures and 1831.00-1830.00 area the Nasdaq futures. If
those areas are broken, then there should be pretty strong
support at the 1248.50-1248.00 area on the SP futures and
1819.25-1818.50 area the Nasdaq futures. If those are tested
and the market turns back up, then it could begin a decent
rally. If those areas are not held, then a test of the
1242.00-1241.00 area on the SP futures and 1804.00-1803.00
area the Nasdaq futures would need to hold. That's where the
buying started on Monday, and both the bulls and bears would
like to see those areas again to get long and/or cover
shorts. If the market drops back down there and can not turn
around, then the 1237.00-1236.00 area on the SP futures will
probably be seen before the market turns around.


September 2008 SP futures resistance
symbols: emini = esu8 / big contract =spu8

1264.25-1265.00
1274.50-1275.00
1285.75-1286.25
1292.50-1293.25

September 2008 SP futures support
symbols: emini = esu8 / big contract =spu8

1252.00-1251.25
1248.50-1248.00
1242.00-1241.00
1237.00-1236.00

September 2008 Nasdaq futures resistance
symbols: emini = nqu8 / big contract = ndu8

1849.00-1850.00
1858.75-1860.50
1880.50-1882.00

September 2008 Nasdaq futures support
symbols: emini = nqu8 / big contract = ndu8

1831.00-1830.00
1819.25-1818.50
1804.00-1803.00

September 2008 Dow futures resistance
symbols: emini = ymu8

11307-11311
11377-11385
11473-11478

September 2008 Dow futures support
symbols: emini = ymu8

11205-11200
11179-11172
11109-11104

September 2008 Russell futures resistance
symbols: emini = er2u8 / big contract = er2u8

664.50-665.00
671.00-671.50
682.30-682.70

September 2008 Russell futures support
symbols: emini = er2u8 / big contract = er2u8

656.20-656.00
654.80-654.20
650.70-650.20


---------------------------

REMINDER:

Real Time subscribers can view these updates on
the web at this site:

http://www.tradestalker.com/members


---------------------------


Good Trading,
Mike Reed

Copyright (c) 2008 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.

www.TradeStalker.com

PO Box 9783, Ft Wayne, IN, 46899

Disclaimer

The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.

We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************

TradeStalker's RBI Update 07/06/08

.................................................

TradeStalker's

R.B.I. Trader's Update

7 / 06 / 2008

(Published Since 1996)

...............................................


Dateline: 5:48 pm eastern time, 7/06/2008

Trading updates are posted through out the day to "real
time" subscribers on our Instant Messenger Site. Go here to
sign up now! http://www.tradestalker.com/order-page.htm

The Thursday action was great in the first hour for anyone
who stuck around. The SP futures opened 10 points higher and
promptly fell from 1272.75 to 1251.75 in the first 30
minutes of trading. The move reversed and the SP futures
rallied back to match the opening high, and then gave back a
bit more than half off the gains back before the close.

The daily indicators remain in a deep oversold condition.
However, the market needs a catalyst to rally and it appears
that the old support around the 1273 level is going to be
pivotal. The market is vulnerable unless/until that
resistance is broken and can hold on a pullback. Even if
that occurs, unless there is an outside event that gives the
market an excuse to rally, the moves are probably not going
to stick. A move over the 1273 level that isn't quickly
reversed could get the upside going, but the damage has been
so bad that as soon as the big 10+ point runs on the SP
futures stall out, the market will likely still follow up by
pulling back 5-6 points or more.

So, expect some decent moves both ways on Monday. An early
bounce that stalls/reverses near the 1272.00-1272.75 area on
the SP futures sets up a good shorting opportunity with a
tight stop. On the other side of the coin, if there is a
test of the Thursday lows, and the move reverses, then it
sets up a trade on the long side. Don't get married to
either side unless/until a steady, grind it out, type of
trending move gets in gear.

The initial resistance is at the 1272.00-1272.75 area on the
SP futures and the 1839.00-1840.75 area on the Nasdaq
futures. If those areas are not a problem for the bulls,
then the next hurdles would be at the 1277.75-1278.25 area
on the SP futures and the 1850.50-1851.00 area on the Nasdaq
futures. Those should be key if they're reached. If the
market doesn't reverse from there, then we could see the
1285.75-1286.25 area on the SP futures and the 1859.50-
1860.75 area on the Nasdaq futures. If there is a big move,
then the big-time major resistance is at the 1292.50-1293.25
area on the SP futures and the 1880.50-1882.00 area on the
Nasdaq futures. If all of those are broken and the market
closes above the resistance zones, then a bottom would be
confirmed to be in place and the intermediate term trends
will begin to turn up.

The initial support is at the 1261.50 level on the SP
futures and the 1818.00 level on the Nasdaq futures. If
those don't hold, then they will become resistance on a
bounce. If those are broken and not quickly reversed, then a
drop to test the 1252.75-1252.00 area on the SP futures and
the 1808.00-1806.25 area on the Nasdaq futures could be in
the cards. If those are reached and the market quickly
reverses, then look to get long with a pretty tight initial
stop. However, if the market gets down there and doesn't
reverse, then it could usher in a bit of panic selling and
it would open the door for a drop towards the 1243.50-
1242.50 area on the SP futures and the 1796.75-1795.50 area
on the Nasdaq futures.


September 2008 SP futures resistance
symbols: emini = esu8 / big contract =spu8

1272.00-1272.75
1277.75-1278.25
1285.75-1286.25
1292.50-1293.25


September 2008 SP futures support
symbols: emini = esu8 / big contract =spu8

1261.50
1252.75-1252.00
1243.50-1242.50


September 2008 Nasdaq futures resistance
symbols: emini = nqu8 / big contract = ndu8

1839.00-1840.75
1850.50-1851.00
1859.50-1860.75
1880.50-1882.00


September 2008 Nasdaq futures support
symbols: emini = nqu8 / big contract = ndu8

1818.00
1808.00-1806.25
1796.75-1795.50


September 2008 Dow futures resistance
symbols: emini = ymu8

11319-11323
11377-11379
11417-11422
11472-11477


September 2008 Dow futures support
symbols: emini = ymu8

11246
11144-11138
11069-11062


September 2008 Russell futures resistance
symbols: emini = er2u8 / big contract = er2u8

671.20-671.50
676.30-676.60
682.30-682.70
691.90-693.00


September 2008 Russell futures support
symbols: emini = er2u8 / big contract = er2u8

663.30
659.20-658.70
652.90-652.10


---------------------------

REMINDER:

Real Time subscribers can view these updates on
the web at this site:

http://www.tradestalker.com/members


---------------------------


Good Trading,
Mike Reed

Copyright (c) 2008 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.

www.TradeStalker.com

PO Box 9783, Ft Wayne, IN, 46899

Disclaimer

The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.

We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************