TradeStalker's RBI Update 11/26/08 Special Update

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

TradeStalker's

R.B.I. Trader's Update

11 / 26 / 2008

(Published Since 1996)

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


Dateline: 6:28 pm eastern time, 11/26/2008

A very quick update..... Most of my internal
gauges are at big extremes where the upside
should be difficult, at best. Many times this
setup will mark a trading top. In any case, the
market may have trouble continuing the rally.
Be careful with new longs up here. There is
resistance at the 897.50-898.50 zone on the
ES if the Wednesday high is exceeded, and
if that area is not a problem then the major
resistance is at the 905.50-906.50.

The key support, which should be pivotal short
term, is at the 860.50-859.50 area on the ES
and the 8500 level on the Dow cash. Those will
need to be quickly reversed if we get a selloff.
If the market gets back down there and can
reverse, then the market is still in a bullish bigger
picture mode. However, if those are broken and
the market doesn't quickly reverse back up, then
the 835-833 area on the ES and 8300 on the Dow
cash is major support.

Good Trading,
Mike Reed


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

REMINDER:

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

http://www.tradestalker.com/members


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

This publication's primary focus is trading the index
futures. However, you can also use my nightly updates to
trade the following ETF's (SPY), (QQQQ), (SDS), (QID),
(DIA), and (DOG)

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 11/25/08

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

TradeStalker's

R.B.I. Trader's Update

11 / 25 / 2008

(Published Since 1996)

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

Dateline: 6:48 pm eastern time, 11/25/2008

NOTE: Due to a dental appointment there will be no intraday
updates after 11 a.m. on Wednesday. Also, Friday the market
is only opened for half of a day. So, the next update will
be on Sunday evening, November 30th. We want to wish you all
a happy Thanksgiving Holiday.

The 872.50-874.00 area on the SP futures and 1172.75-1174.00
area on the Nasdaq futures were reached and rejected just
before stocks opened on Tuesday. After the open, the SP
futures made a 1-2-3 top about 40 minutes into the day, and
the break of 855 ushered in a selloff to the key support at
the 838.50-837.50. An 836.25 low was quickly reversed, but
the bounce fizzled at the 850 area, setting up a shorting
opportunity and the SP futures dropped to a new low. Buying
a reversal worked all day, and after turning back up through
8300 on the Dow set up an entry on the long side. In the
last update the I stated:

"If this rally stalls and reversed from near 863-864 it
could set up a shorting opportunity."

The SP futures reached 864.25 and stalled out, and then
dropped almost 12 points into the close.

The 3 day rally has the market back to the area from where
the drop to last week's lows started in earnest. My daily
indicators are very overbought, and at spots where the
rallies have reversed also. So, treat the Tuesday highs as
the top of a very large range. A bounce back towards the top
side sets up a good risk/reward trade on the short side. On
the other side, as long as a selloff doesn't break the
Tuesday lows and stick, the pullbacks that reverse should
set up good buying opportunities. That occurred twice on
Tuesday by using the 8300 level on the Dow cash as a
trigger. When that level was broken, and then price reversed
back up through that level, the market had a sluggish first
bounce but then got legs and rallied nicely. If that 8300
level is broken and not quickly reversed again on Thursday,
then things will change and the pressure would be on.

The initial resistance is at the 863.50-864.25 area on the
SP futures and 1055.25-1156.00 area on the Nasdaq futures.
If the market can not get through those areas on a bounce,
then it's weak and a decent pullback is likely. However, if
those areas are exceeded, then the 870.00 level on the SP
futures and 1164.00 level on the Nasdaq futures would be
next. If those do not cause any trouble, then the big
hurdles would be around the 872.50-874.00 area on the SP
futures and 1168.75-1169.50 area on the Nasdaq futures. If
the market gets up there, and the move fizzles out and
reverses, then we could have a decent selloff coming.
However, if something sparks a good rally, and the market is
breaking out of the top side of this big range, then a run
up towards the 881.50-882.50 area on the SP futures and
1182.50-1183.75 area on the Nasdaq futures is possible.

The initial support is at the 848.00 level on the SP futures
and 1132.75 level on the Nasdaq futures. If those are
broken, then a test of the 834.00-833.50 area on the SP
futures and 1118.50-1117.75 area on the Nasdaq futures would
be in the cards. The market reversed from there on Tuesday,
so if those areas are not defended, then the downside could
accelerate. There should be good support around the 825.50-
824.75 area on the SP futures and 1110.75-1109.50 area on
the Nasdaq futures. If the market gets down there and can
not turn around, then a trip down to test the 818.00-817.00
area on the SP futures and 1093.00-1092.00 area on the
Nasdaq futures is a good possibility. If those are tested
and can not hold, then we should see a pullback to test the
802.50-802.00 area on the SP futures and 1077.50-1075.00
area on the Nasdaq futures.

NOTE: Due to a dental appointment there will be no intraday
updates after 11 a.m. on Wednesday. Also, Friday the market
is only opened for half of a day. So, the next update will
be on Sunday evening, November 30th. We want to wish you all
a happy Thanksgiving Holiday.

December 2008 SP futures resistance
symbols: emini = esz8 / big contract =spz8

863.50-864.25
870.00
872.50-874.00
881.50-882.50

December 2008 SP futures support
symbols: emini = esz8 / big contract =spz8

848.00
834.00-833.50
825.50-824.75
818.00-817.00
802.50-802.00

December 2008 Nasdaq futures resistance
symbols: emini = nqz8 / big contract = ndz8

1055.25-1156.00
1064.00
1168.75-1169.50
1182.50-1183.75

December 2008 Nasdaq futures support
symbols: emini = nqz8 / big contract = ndz8

1132.75
1118.50-1117.75
1110.75-1109.50
1093.00-1092.00
1077.50-1075.00

December 2008 Dow futures resistance
symbols: emini = ymz8

8536-8544
8597
8627-8632
8702-8709

December 2008 Dow futures support
symbols: emini = ymz8

8388
8275-8268
8216-8211
8134-8128
8008-8004

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

REMINDER:

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

http://www.tradestalker.com/members


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


Good Trading,
Mike Reed

This publication's primary focus is trading the index
futures. However, you can also use my nightly updates to
trade the following ETF's (SPY), (QQQQ), (SDS), (QID),
(DIA), and (DOG).

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 11/24/08

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

TradeStalker's

R.B.I. Trader's Update

11 / 24 / 2008

(Published Since 1996)

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

Dateline: 6:55 pm eastern time, 11/24/2008

This publication's primary focus is trading the index
futures. However, you can also use my nightly updates to
trade the following ETF's (SPY), (QQQQ), (SDS), (QID),
(DIA), and (DOG).

A gap up open was sold on Monday, but the pullback from
818.25 on the SP futures was soft and they reversed back up
from an 807.75 low. The market was in trend up mode until
reaching 842.50 on the SP futures, then a drop to 825.00
followed. Buyers stepped back to the plate and the move went
parabolic on a run up to 866.25 with about 15 minutes left
in stock trading. The market dropped pretty fast, reaching
837.50 on the SP futures, and then the market bounced back
into the close.

It's too soon to tell if the gap on the SP futures is a
break-away gap, or will become a magnet over the next few
days. It looks like a trading range could be starting. A
good low looks to be in place at 739 on the SP futures.
Also, a decent trading top at 866.25 could be in place,
given the late day action on Monday. A pullback to digest
the gains of the last two days should occur before another
go on the upside. A pullback will need to hold the 838.50-
837.50 area on the SP futures, or quickly reverse if broken,
to keep the upside intact.

If the market opens lower on Tuesday, beware of a reversal
in the first 20-40 minutes of trading. If the market can
turn up from around the 838.50-837.50 area on the SP
futures, or quickly reverse if broken, then another run to
test or break Monday's highs is possible. If that occurs,
and the market stalls and/or reverses from the 865.50-866.50
865.50-866.50 area, then a good trade should set up on the
short side.

The initial resistance is at the 855.00-856.00 area on the
SP futures and 1155.25-1156.25 area on the Nasdaq futures.
If those are not sold, then the 865.50-866.50 area on the SP
futures and 1166.00-1168.00 area on the Nasdaq futures would
be next. If the market does not double top, or make a 123
toping pattern, then the move could continue on up towards
the 872.50-874.00 area on the SP futures and 1172.75-1174.00
area on the Nasdaq futures. If those are reached, be on
reversal alert IF the market loses upside momentum and the
move fizzles near those areas. If that doesn't occur, and
the market has a head of steam on the upside, then we could
go for the 881.50-882.50 area on the SP futures 1186.50-
1188.75 and/or area on the SP futures.

The first good support is at the 838.50-837.50 area on the
SP futures and 1136.00-1135.25 area on the Nasdaq futures.
If there isn't a turn back up from those areas, then there
is minor support at the 831.50-830.50 area on the SP futures
and 1125.75-1124.50 area on the Nasdaq futures. There was
good buying there on Monday, so if those areas are not
defended then the downside should continue towards the
825.50-824.75 area on the SP futures and 1118.25-1117.75
area on the Nasdaq futures. The market needs to hold around
those areas to avoid trouble. If those areas are not held,
then the 818.00-817.00 area on the SP futures and 1110.75-
1109.50 area on the Nasdaq futures would be next. If the
market gets down there, and still can not get turned back
up, then we could go for the 802.50-802.00 area on the SP
futures and 1096.00-1095.00 area on the Nasdaq futures.

December 2008 SP futures resistance
symbols: emini = esz8 / big contract =spz8

855.00-856.00
865.50-866.50
872.50-874.00
881.50-882.50

December 2008 SP futures support
symbols: emini = esz8 / big contract =spz8

838.50-837.50
831.50-830.50
825.50-824.75
818.00-817.00
802.50-802.00

December 2008 Nasdaq futures resistance
symbols: emini = nqz8 / big contract = ndz8

1155.25-1156.25
1166.00-1168.00
1172.75-1174.00
1186.50-1188.75


December 2008 Nasdaq futures support
symbols: emini = nqz8 / big contract = ndz8

1136.00-1135.25
1125.75-1124.50
1118.25-1117.75
1110.75-1109.50
1096.00-1095.00

December 2008 Dow futures resistance
symbols: emini = ymz8

8470-8476
8587-8595
8657-8662
8798-8802

December 2008 Dow futures support
symbols: emini = ymz8

8318-8314
8247-8236
8216-8212
8141-8134
8008-8001

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

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 11/23/08

(I'm sorry I got a little behind in posting, so I'm catching up today)

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

TradeStalker's

R.B.I. Trader's Update

11 / 23 / 2008

(Published Since 1996)

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


Dateline: 5:39 pm eastern time, 11/23/2008

This publication's primary focus is trading the index
futures. However, you can also use my nightly updates to
trade the following ETF's (SPY), (QQQQ), (SDS), (QID),
(DIA), and (DOG).

The market opened higher on Friday but the early strength
was sold and the market sold off to new lows for the year.
The SP futures reversed from a 739.00 low and the market
bounced back into lunchtime trading. That move fizzled and
the market fell back to test the lows with about an hour
left in trading. After a couple of drops under 745.00 on the
SP futures were quickly reversed, the market turned up in
the last hour of trading. The new Treasury Secretary was
named and it caused that spark that was needed to get a good
rally going. In the last hour the market took of to the
upside as the SP futures made it to 802.50 before backing
off to settle 8 points under the cash close.

The market saw levels that finally are looking attractive
for the longer term, on Friday. The rally might turn out to
be one of those that doesn't stick, but should the market
test the Friday lows, there will be buyers ready to step
back to the plate. The market made a good start to a
bottoming process on Friday. With a short Holiday week,
there should be more volatility and likely some good set-ups
on both sides.

The market rallied 61 points on the SP futures, 75 points on
the Nasdaq futures and 675 points on the Dow futures from
the late afternoon lows on Friday. The futures closed well
under fair value on Friday, so if there is a pop up on the
open and the move reverses in the first 20-40 minutes of
trading, it should set up a good shorting opportunity.
Thereafter, the first decent pullback should set up a buying
opportunity as soon as the downside stalls/ reverses. Look
for that type of action early on Monday. As long as a
pullback doesn't break and hold under the 765.50-764.00 area
on the SP futures, the market will be "okay" and the bulls
will get the benefit of any doubts. However, if that area
doesn't hold, or quickly reverse if broken, then we'll
likely go test that 745 level and see if buyers are still
ready to pull the trigger, or keep their hands off of the
buy
button.

The initial resistance is at the 804.00-805.00 area on the
SP futures and the 1102.00-1103.25 area on the Nasdaq
futures. If there is a pop to those areas in the early going
and the move reverses, it would set up a good shorting
opportunity. However, if those areas are not a problem, then
it would open the door for the market to move towards the
819.50-820.75 area on the SP futures and the 1116.50-1117.50
area on the Nasdaq futures. If the market gets that far,
beware of a potential reversal. If that doesn't happen, and
the market is strong enough to plow through those areas,
then a move towards the 825.75-826.25 area on the SP futures
and the 1127.50-1129.50 area on the Nasdaq futures could be
in the cards. That would be as far as a rally should go
unless there is a melt-up type of rally. In that case watch
for the 835.50-837.00 area on the SP futures and the
1141.00-1142.00 area on the Nasdaq futures to be key
resistance on Monday.

The first good support is at the 774.25-773.25 area on the
SP futures and the 1057.50-1056.00 area on the Nasdaq
futures. If the market gets down there in the early going
and the move stalls out and turns up, it could start a good
rally back. If those areas are broken and not quickly
reversed, then the 765.50-764.00 area on the SP futures and
the 1048.25-1047.00 area on the Nasdaq futures would be
next, and should hold if the Friday rally was the start of
something for the bulls. If those zones do not hold, then a
drop towards the 745.00-742.50 area on the SP futures and
the 1023.50-1022.00 area on the Nasdaq futures should
quickly reverse unless the market is in trouble again. If
the market doesn't reverse from down there, then it means
buyers are still on boycott and only a reversal from near
the 739.00 level on the SP futures and the 1017.75 level on
the Nasdaq futures can save the market from another big down
day.

December 2008 SP futures resistance
symbols: emini = esz8 / big contract =spz8

804.00-805.00
819.50-820.75
825.75-826.25
835.50-837.00


December 2008 SP futures support
symbols: emini = esz8 / big contract =spz8

774.25-773.25
765.50-764.00
745.00-742.50
739.00


December 2008 Nasdaq futures resistance
symbols: emini = nqz8 / big contract = ndz8

1102.00-1103.25
1116.50-1117.50
1127.50-1129.50
1141.00-1142.00


December 2008 Nasdaq futures support
symbols: emini = nqz8 / big contract = ndz8

1057.50-1056.00
1048.25-1047.00
1023.50-1022.00
1017.75


December 2008 Dow futures resistance
symbols: emini = ymz8

8089-8098
8174-8178
8224-8229
8375-8382


December 2008 Dow futures support
symbols: emini = ymz8

7764-7758
7679-7670
7482-7476
7436


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

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 11/20/08

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

TradeStalker's

R.B.I. Trader's Update

11 / 20 / 2008

(Published Since 1996)

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


Dateline: 6:41 pm eastern time, 11/20/2008

This publication's primary focus is trading the index
futures. However, you can also use my nightly updates to
trade the following ETF's (SPY), (QQQQ), (SDS), (QID),
(DIA), and (DOG).

The market opened lower on Thursday as the averages spilled
to new lows for the year. After about 40 minutes of
trading, the SP futures reversed from 774.25 and rallied up
to 808.00 by 11 am, and after a little 1-2-3 top, the SP
futures dropped to 785.00 before turning back up. The rally
was a pretty good one, but the SP futures barely poked over
the 819.00 resistance while the Nasdaq futures stalled just
under 1116.50-1117.50 and then the move reversed. Selling
took the market down to the 782.00 on the SP futures where
it tried to hold, but when that was broken it went into a
steady trend down move that cut through the 750-748 area on
the way to a 745.50 low made in the final minutes of
trading.

The trend and momentum are so strong on the downside that
the charts are straight down. If turned upside down (or see
the SDS or QID) it would look like a parabolic move that
could reverse sharply. The difference is that very good mood
can be undone a lot easier than being in horrible mood. It
takes a spark, or something good that gives hope. Without a
good spark, this downtrend will keep on rolling and the
bounces will not stick.

Despite a grossly oversold market and a loss of more than
100 points on the SP500 in just 2 days, expect the bounces
to be sold as soon as the upside stalls out and begins to
roll over. The SP futures need to clear the 778.00-779.00
area and the Nasdaq futures need to clear 1065.00-1066.50
and not quickly reverse, to put a dent in the downside
momentum. Unless that occurs, the market is still vulnerable
and the bears are in control. If those are exceeded, then
the Thursday highs will be key resistance levels. It will
take a close over those highs on Friday to begin a bottoming
pattern.

The first hurdles on Friday are at the 774.50-775.00 area
the SP futures and the 1056.00-1057.00 area on the Nasdaq
futures. If those are reached and not rejected, then the
next resistance is at the 778.00-779.00 area on the SP
futures and the 1065.00-1066.50 area on the Nasdaq futures.
If those are broken and not quickly reversed, then the door
is opened for a run up towards the 785.00 level on the SP
futures and the 1075.25 level on the Nasdaq futures. If the
market happens to get through those areas without failing,
then the next key resistance is up at the 791.00-792.00 area
the SP futures and the 1081.75-1082.50 area on the Nasdaq
futures. The market came apart when those areas were broken
on Thursday, and if the market gets up there it should be
hard to get through. If the market is strong enough to push
through those areas, then the next key resistance is at the
804.00-805.00 area the SP futures and the 1102.00-1103.25
area on the Nasdaq futures. If the market puts together a
rally good enough to take those areas out, then the 820-821
area is major resistance now short term.

The downside was losing a bit of momentum just before the
close, so there should be decent support at the 746.00-
745.00 area the SP futures and the 1033.00-1031.25 area on
the Nasdaq futures. If the market doesn't turn back up from
those areas, then finding real significant support doesn't
occur until there's another sizable drop. There should be
some support near the 738.00-737.00 area the SP futures and
the 1024.50-1023.00 area on the Nasdaq futures. If those are
broken, then a drop towards the 723.00-722.00 area the SP
futures and the 1010.00-1007.50 area on the Nasdaq futures
could be a magnet. If those do not hold, then we could see
another panic selloff. The major support if the market gets
hit hard again is near the 696.50-695.00 area on the SP
futures and/or the 980.00-978.00 area on the Nasdaq futures.

December 2008 SP futures resistance
symbols: emini = esz8 / big contract =spz8

774.50-775.00
778.00-779.00
785.00
791.00-792.00
804.00-805.00
820.00-821.00


December 2008 SP futures support
symbols: emini = esz8 / big contract =spz8

746.00-745.00
738.00-737.00
723.00-722.00
696.50-695.00


December 2008 Nasdaq futures resistance
symbols: emini = nqz8 / big contract = ndz8

1056.00-1057.00
1065.00-1066.50
1075.25
1081.75-1082.50
1102.00-1103.25


December 2008 Nasdaq futures support
symbols: emini = nqz8 / big contract = ndz8

1033.00-1031.25
1024.50-1023.00
1010.00-1007.50
980.00-978.00


December 2008 Dow futures resistance
symbols: emini = ymz8

7754-7758
7806-7812
7849
7931-7939
8034-8042


December 2008 Dow futures support
symbols: emini = ymz8

7474-7469
7402-7394
7268-7260


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

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 11/19/08

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

TradeStalker's

R.B.I. Trader's Update

11 / 19 / 2008

(Published Since 1996)

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

Dateline: 6:22 pm eastern time, 11/19/2008

This publication's primary focus is trading the index
futures. However, you can also use my nightly updates to
trade the following ETF's (SPY), (QQQQ), (SDS), (QID),
(DIA), and (DOG)

A lower open was bought on Wednesday, but the bounce stalled
and reversed from a good resistance area (8500 on Dow cash,
864.50-866.00 on SP futures) and a trend down move was just
beginning. The market dropped steadily into late afternoon,
taking out the Tuesday lows in the process. After falling to
819.00 on the SP futures, they bounced back to the 835.50-
836.50 zone and the move stalled out. A quick drop to 825.75
was reversed, but the SP futures reversed after tagging
836.50 and then collapsed to a new low for the year at
804.50. The cash indices closed at their lows while the
futures bounced back to settle well above fair value.

The SP500 cash broke down on the line-on-close chart and now
needs to close over 852 for the market to get into neutral
territory. However, the market is at a spot where we could
see a decent counter-trend rally. The daily internal gauges
are now at short term extremes on the oversold side. It
could help prop the market up and possibly give us a decent
trade on the long side. However, unless the SP futures can
crack the 835.50-837.00 zone and not quickly reverse, the
bears are in control. If there is a rally back to that area,
the market needs to push through and not quickly reverse.
Unless that occurs, shorting the bounces should offer the
better odds as they are with the momentum and trend.

The first hurdles on Thursday are at the 819.00 level on the
SP futures and the 1107.25 level on the Nasdaq futures. If
those are cleared then the door would be opened for a test
of the 825.75-826.25 area on the SP futures and the 1116.50-
1117.50 area on the Nasdaq futures. If those are tested
early, be alert for a reversal. If the market gets back up
there and doesn't reverse, then we could see a rally towards
the 835.50-837.00 area on the SP futures and the 1129.00-
1130.00 area on the Nasdaq futures. Another reversal from
that area would keep the pressure on the downside. However,
if the market is strong enough to push through those zones,
then we could see a squeeze towards the 843.75-844.75 area
on the SP futures and the 1147.00-1148.00 area on the Nasdaq
futures. If the market gets in a buying mode and those areas
are broken, then the 850.50-852.50 area on the SP futures
could be a magnet and would be a key, and pivotal,
resistance area.

The initial support is at the 804.25-802.00 area on the SP
futures and the 1082.75-1079.50 area on the Nasdaq futures.
If the futures open lower, those should be key areas. If the
market breaks those support areas, beware that a reversal
back up through those areas could spark a decent rally. If
that does not happen and instead the market keeps dropping,
then we could see the downside snowball towards the 790.50-
789.50 area on the SP futures and the 1068.50-1066.00 area
on the Nasdaq futures. IF the market gets down there, be a
buyer as soon as there is a turn to the upside and put a
stop just under the low that was made, as the downside would
be stretched unless the market is somehow crashing out of
the basement floor. If we get that kind of action, then we
are likely going to see the 772-768 area on the SP500 cash
on this leg down.

December 2008 SP futures resistance
symbols: emini = esz8 / big contract =spz8

819.00
825.75-826.25
835.50-837.00
843.75-844.75
850.50-852.50


December 2008 SP futures support
symbols: emini = esz8 / big contract =spz8

804.25-802.00
790.50-789.50
772-768 {SP500 cash}


December 2008 Nasdaq futures resistance
symbols: emini = nqz8 / big contract = ndz8

1107.25
1116.50-1117.50
1129.00-1130.00
1147.00-1148.00


December 2008 Nasdaq futures support
symbols: emini = nqz8 / big contract = ndz8

1082.75-1079.50
1068.50-1066.00


December 2008 Dow futures resistance
symbols: emini = ymz8

8098
8174-8178
8275-8282
8326-8331


December 2008 Dow futures support
symbols: emini = ymz8

7970-7955
7854-7844


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

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.
*************************************************

Huge Announcement for Traders!

Hi Everybody,

Big Announcement Here -

Our Next (and probably last) RBI Trading Camp will be held:

DECEMBER 7th - 13th

Please Note: Due to some exciting, but major changes
coming to our service beginning in January (more on this
later); this might just possibly be the LAST camp Mike holds
due to time constraints.

WHAT IS TRADING CAMP?
Mike's week long "RBI Trading Camp" identifies every trick and
technique that has allowed him to gain an almost unfair
advantage in Trading. You as a trader need to know the
secrets Mike reveals during camp in order to compete with the
professional "big" trader's out there who are dominating the
market.

WHERE IS TRADING CAMP?
"RBI Trading Camp" is held in Mike's virtual trading room via
Hotcomm. So, you have no hotel, meal, or travel costs. You
attend trading camp from the comfort of your own home or office.

WHAT WILL TRADING CAMP DO FOR ME?

#1 - Improve my technique.

#2 - Help me to develop a trading plan that works...consistently.

#3 - Teach me to control my "emotional" trading.

#4 - Discover entries and exits that are time tested and
rock solid

#5 - Uncover the secrets of how Mike finds his nightly
support and resistance numbers

#6 - Get access to Mike's spreadsheets with his own personal
indicators...campers are the ONLY traders allowed access to
these!

#7 - Get your own copy of Mike's CD-ROM trading course "Read
the Greed-LIVE!" (if you already have the course, get $900
off camp)

Most times, camp fills up fast. Three smart trader's have
already snatched up their "seats". That means there are only
5 more spots left.

Here's the link, better hurry to reserve your "seat":

http://www.tradestalker.com/RBI-Trading-Camp.htm

Campers receive Mike's course, "Read the Greed-LIVE!" as
part of camp. If you have already purchased "Read the Greed-
LIVE!", please contact us to get the link to register at a
$900 discount!

NOTE: This publication's primary focus is trading the index
futures. However, you can also use my nightly updates to
trade the following ETF's (SPY), (QQQQ), (SDS), (QID),
(DIA), and (DOG).

Hope to "see" you at RBI Trading Camp!

To Your Success,

Julie
TradeStalker.com
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TradeStalker's RBI Update 11/17/08

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

TradeStalker's

R.B.I. Trader's Update

11 / 17 / 2008

(Published Since 1996)

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

Dateline: 6:43 pm eastern time, 11/17/2008

This publication's primary focus is trading the index
futures. However, you can also use my nightly updates to
trade the following ETF's (SPY), (QQQQ), (SDS), (QID),
(DIA), and (DOG).

The market opened lower on Monday and after a feeble bounce,
the market sold off until about 40 minutes into the day. The
SP futures reached 847.00 and then turned up and a rally
took hold. After reaching 881.75 around 1 pm, the SP futures
pulled back to 861.50 and then began to chop back and forth
within a pretty big range. After over 2 hours of bouncing
between 861 and 874, the lower end of the range broke and
the 855-854 target was easily met as the market sold off to
the early lows at the close.

The rallies are not able to stick, still. The internal
gauges are getting oversold, however the daily charts don't
look very good. In order to get out of trouble, the market
will need to get over the Monday afternoon range highs and
not quickly reverse. That is at the 874.00 level on the SP
futures, 1181.50 on the Nasdaq futures, and 8500 on the Dow
cash. If all of those levels are broken and the market
doesn't quickly reverse, then we could see a decent squeeze
to the upside. Absent that, the bounces will still set up
shorting opportunities as soon as the upside move stalls out
and the market begins to roll over.

The initial resistance is at the 861.50-863.00 area on the
SP futures and the 1166.50-1168.75 area on the Nasdaq
futures. If those are not rejected, then the key hurdles on
Tuesday would be at the 873.00-874.00 area on the SP futures
and the 1180.00-1181.50 area on the Nasdaq futures. Also,
the 8500 level on the Dow cash will need to be exceeded. If
the market gets back up there and those areas are not a
problem, then the door is opened for a rally towards the
883.50-884.25 area on the SP futures and the 1191.75-1193.50
area on the Nasdaq futures. If the market gets up there and
doesn't reverse, then there should be strong resistance at
the 894.50-895.75 area on the SP futures and the 1207.50-
1208.50 area on the Nasdaq futures.

The initial support is at the 847.50-847.00 area on the SP
futures and the 1151.00-1150.00 area on the Nasdaq futures.
If those areas do not hold, then the next decent support is
at the 843.00-842.50 area on the SP futures and the 1144.50-
1143.50 area on the Nasdaq futures. If there isn't a
reversal from down there, then the 837.00-836.50 area on the
SP futures and the 1134.50-1133.50 area on the Nasdaq
futures should be in the cards. If the market cannot rally
from those areas, then we could see an air-pocket type drop
towards the 823.00-822.00 area on the SP futures and the
1108.50-1107.00 area on the Nasdaq futures. If those are
reached and the market cannot reverse, then we are likely
heading back towards the 817.50-816.75 area on the SP
futures and the 1098.00-1096.50 area on the Nasdaq futures.
If the market gets back down there, be alert for a reversal.
If the market gets down there again and doesn't stop
dropping, then we could be on the way towards the 768 level
on the SP500 cash.


December 2008 SP futures resistance
symbols: emini = esz8 / big contract =spz8

861.50-863.00
873.00-874.00
883.50-884.25
894.50-895.75


December 2008 SP futures support
symbols: emini = esz8 / big contract =spz8

847.50-847.00
843.00-842.50
837.00-836.50
823.00-822.00
817.50-816.75
768 {SP500 cash}


December 2008 Nasdaq futures resistance
symbols: emini = nqz8 / big contract = ndz8

1166.50-1168.75
1180.00-1181.50
1191.75-1193.50
1207.50-1208.50


December 2008 Nasdaq futures support
symbols: emini = nqz8 / big contract = ndz8

1151.00-1150.00
1144.50-1143.50
1134.50-1133.50
1108.50-1107.00
1098.00-1096.50


December 2008 Dow futures resistance
symbols: emini = ymz8

8361-8369
8488-8496
8578-8584
8693-8705


December 2008 Dow futures support
symbols: emini = ymz8

8236-8231
8209-8202
8165-8159
8002-7994
7945-7938


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

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 11/16/08

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

TradeStalker's

R.B.I. Trader's Update

11 / 16 / 2008

(Published Since 1996)

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


Dateline: 5:48 pm eastern time, 11/16/2008


The market opened lower on Friday and then bounced back to
test the Thursday close and then reversed back to the
downside. It was trend down until noon, where the SP futures
found buyers after reaching 868.50. After a bounce, the
market pulled back and turned up from higher highs and a
rally started slowly. The crawl turned into a buying frenzy
as the SP futures rallied to the 917.50-918.00 resistance
zone. The move fizzled after a high at 918.00 and when the
901-899 zone was cut through, the downside picked up steam
and sold off to make new lows for the day in the final
minutes of trading.

That was a heck of an end to the week. Off of the 3 pm
highs, the market lost 57.75 points on the SP futures, 82
points on the Nasdaq futures, and 557 points on the Dow
futures and they all settled at big discounts to the cash
close. The daily indicators were in a position to show good
bullish divergences if the market could hold gains for a day
or two. They still can do this, but if there isn't a good
rally that sticks by early this week, then we are likely
going to the 2002 low on the SP500 cash.

The market ended on a sour note for the bulls on Friday. If
there isn't a panic selloff coming, then early weakness will
set up a trade on the long side IF there is a reversal in
the first 20 minutes of trading. Aside from that, the
bounces should set up great shorting opportunities as soon
as the upside stalls and begins to roll over.

The initial resistance is at the 883.50-884.25 area on the
SP futures and the 1191.75-1193.50 area on the Nasdaq
futures. If the market gets back up there and the move
stalls out, it should set up a good shorting opportunity. If
those areas are not a problem, then the next hurdles would
be at the 894.00-895.50 area on the SP futures and the
1207.50-1208.50 area on the Nasdaq futures. If a bounce
doesn't reverse from those areas, then the 908.75-909.25
area on the SP futures and the 1224.00-1225.00 area on the
Nasdaq futures would be next. If those are exceeded and not
quickly reversed, then the 917.50-918.00 area on the SP
futures and the 1236.00-1237.00 area on the Nasdaq futures
are the major short term resistance zones.

The initial support is at the 858.50-858.00 area on the SP
futures and the 1146.25-1144.50 area on the Nasdaq futures.
If those are not held or quickly reversed, then the next
decent support is down around the 843.00-842.50 area on the
SP futures and the 1134.50-1133.50 area on the Nasdaq
futures. If the market gets down there and cannot reverse,
then we could see some panic selling. There should be some
support near the 823.00-822.00 area on the SP futures and
the 1108.50-1107.00 area on the Nasdaq futures. The key
support would be a test of the 817.50-816.75 area on the SP
futures and/or the 1098.00-1096.50 area on the Nasdaq
futures. That was the weekly and yearly low thus far and if
it's not reversed then we could be headed towards 803.00-
801.50 before there is a potential stabilizing force for the
market.

December 2008 SP futures resistance
symbols: emini = esz8 / big contract =spz8

883.50-884.25
894.00-895.50
908.75-909.25
917.50-918.00


December 2008 SP futures support
symbols: emini = esz8 / big contract =spz8

858.50-858.00
843.00-842.50
823.00-822.00
817.50-816.75
803.00-801.50


December 2008 Nasdaq futures resistance
symbols: emini = nqz8 / big contract = ndz8

1191.75-1193.50
1207.50-1208.50
1224.00-1225.00
1236.00-1237.00


December 2008 Nasdaq futures support
symbols: emini = nqz8 / big contract = ndz8

1146.25-1144.50
1134.50-1133.50
1108.50-1107.00
1098.00-1096.50


December 2008 Dow futures resistance
symbols: emini = ymz8

8602-8609
8693-8705
8841-8847
8911-8914


December 2008 Dow futures support
symbols: emini = ymz8

8328-8322
8209-8202
8002-7994
7945-7938


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

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 11/13/08

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

TradeStalker's

R.B.I. Trader's Update

11 / 13 / 2008

(Published Since 1996)

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


Dateline: 8:32 pm eastern time, 11/13/2008


The market didn't open bad like it looked like it would on
Thursday, but after a bounce the SP futures pulled back to
846.25 and then tried to get a rally going. The bounce
fizzled and the market went back to test the lows. After
holding just above the lows, the market gave way and a sharp
drop to 816.75 on the SP futures and 1108.50 on the Nasdaq
futures was in gear and then the move was reversed. The
first bounce was rejected at 836.00, and after a small
pullback the market got legs and the upside was in gear. The
move cleared the 856.50-858.00 zone and that brought in more
buying as the move ran almost straight to 882.00 on the SP
futures. That 858 level turned into support on a pullback,
and the market found another gear and rallied strong into
the close.

The SP500 and Nasdaq 100 cash and futures went well below
the October lows before the reversal on Thursday. The Dow
made a higher low by about 83 points. This leaves the
averages making "W" patterns on the daily charts. The Dow
made a 1-2-3 bottom pattern. Now we need to see if this is
just a bounce from the bottom of a very big trading range,
or the real McCoy and the start of a rally into year's end.

We get the Retail Sales number before the open on Friday.
The trend and momentum are now in the bulls favor, however
the first good trade should set up on the short side if
there is some early strength on Friday. Off of the early
afternoon lows on Thursday, the market rallied 97.00 points
on the ES, 135.25 points on the NQ, and 932 points on the
YM. That happened in just 3 hours, so some pullback should
be in order, even if it's just backing up to get a running
start for another leg higher. So, look to short early
strength if the move stalls and reverses in the first 20-40
minutes on Friday. If that plays out, beware that the first
decent pullback should set up a buying opportunity.

The initial resistance is at the 914.00 level on the SP
futures and 1243.75 level on the Nasdaq futures. If those
Thursday highs are exceeded then there should be pretty
strong resistance around the 917.25-918.00 area on the SP
futures and 1251.50-1253.00 area on the Nasdaq futures. If
the market pops up there in the early going and reverses, it
could start a 10-12 point pullback, at least. However, a
clean break through those areas will open the door for a
test of the 926.50-927.50 area on the SP futures and
1264.50-1266.50 area on the Nasdaq futures. Those areas are
key on Friday. If the market doesn't back off from those
areas, then we could head towards the 939.50-941.00 area on
the SP futures and 1281.50-1284.00 area on the Nasdaq
futures.

The initial support is at the 901.00-900.00 area on the SP
futures and 1227.00-1226.00 area on the Nasdaq futures. If
there is no follow through buying, then those areas will
need to hold or else the market could be rolling over for a
sharper pullback. The next support would be near the 895.50-
894.50 area on the SP futures and 1219.00-1218.00 area on
the Nasdaq futures. If a pullback can not turn back up from
there, then the 883.00-882.00 area on the SP futures and
1205.00-1203.50 area on the Nasdaq futures would be next.
That is as far as a normal pullback should go if the market
is still in good shape. If those areas are broken, and not
quickly reversed, then a drop towards the 860.00-858.50 area
on the SP futures and 1172.50-1169.50 area on the Nasdaq
futures is in the cards and would need to hold to avoid a
bad end to the week.



December 2008 SP futures resistance
symbols: emini = esz8 / big contract =spz8

914.00
917.25-918.00
926.50-927.50
939.50-941.00


December 2008 SP futures support
symbols: emini = esz8 / big contract =spz8

901.00-900.00
895.50-894.50
883.00-882.00
860.00-858.50

December 2008 Nasdaq futures resistance
symbols: emini = nqz8 / big contract = ndz8

1243.75
1251.50-1253.00
1264.50-1266.50
1281.50-1284.00

December 2008 Nasdaq futures support
symbols: emini = nqz8 / big contract = ndz8

1227.00-1226.00
1219.00-1218.00
1205.00-1203.50
1172.50-1169.50

December 2008 Dow futures resistance
symbols: emini = ymz8

8877
8914-8922
8996-9004
9158-9169

December 2008 Dow futures support
symbols: emini = ymz8

8718-8711
8688-8680
8538-8533
8322-8308


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

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 11/12/08

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

TradeStalker's

R.B.I. Trader's Update

11 / 12 / 2008

(Published Since 1996)

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


Dateline: 6:58 pm eastern time, 11/12/2008


Last night I stated:

"The market is in a big range and another test of
the 843 level on the SP futures could be in the
cards before a more sustainable rebound occurs."

I also stated this about the key 887.00-886.50 area on the
SP futures:

"...If that is broken [the 887.00-886.50 area] and
not quickly reversed, then the Tuesday lows would
need to hold to avoid potential trouble and
another sharp downdraft.

The SP futures opened under that key 887.00-886.50 area and
after a bounce to 885.75, the market rolled back over. The
move down was steady most of the day, with a few
countertrend bounces that were sold as soon as the move
fizzled. The SP futures reached 848.50 with about 30 minutes
left in trading and then the market churned into the close.

After the bell, earnings reports are going to cause trouble
for the market early on Thursday. The yearly low on the SP
and Nasdaq futures should be a lay-up in the early going. At
some point soon, the market will put together a good trading
low. Not yet however, as there could be a bit of
capitulation first.

On Thursday continue to focus on the short side unless/until
there is a good reversal of trend. A gap down open that can
reverse in the first 20 minutes could set up a decent trade
on the long side. If that plays out, beware that the first
decent bounce will likely be sold. If the market runs up to
fill gaps on the daily charts and the bounce
stalls/reverses, then the downtrend should reassert itself.

If the market gaps down on the open on Thursday, then the
initial resistance would be near the 848.50-850.00 area on
the SP futures and the 1159.00-1161.00 area on the Nasdaq
futures. If a bounce gets back there but is rejected, then
another push on the downside should be coming. If the market
gets through those areas easily, then the next hurdle would
be the 858.50-859.00 area on the SP futures and the 1177.50-
1178.50 area on the Nasdaq futures. If those areas are
convincingly broken, then we could see the move extend
towards the 868.00 level on the SP futures and the 1185.50
level on the Nasdaq futures. If those are not a problem,
then the 875.00-876.00 area on the SP futures and the
1199.50-1201.00 area on the Nasdaq futures are key
resistance zones. It's a long shot that those are reached,
however if something sparks a good rally and those are
exceeded, then major resistance for this move is at the
884.00-885.00 area on the SP futures and the 1212.50-1213.25
area on the Nasdaq futures.

The initial support on Thursday is at the 844.00-843.00 area
on the SP futures and the 1148.50-1147.25 area on the Nasdaq
futures. If those are broken and not quickly reversed, then
the pressure should be on. There should be some support near
the 839.50-838.50 area on the SP futures and the 1138.50-
1137.50 area on the Nasdaq futures, but the next key support
areas are down at the 835.00-834.00 area on the SP futures
and the 1132.50-1130.50 area on the Nasdaq futures. If the
market gets down there and then turns back up, we could get
a decent bounce from that area. However, if those areas
cannot hold, then another push lower towards the 825.00-
824.00 area on the SP futures and the 1128.50-1127.50 area
on the Nasdaq futures could be in the cards. If the market
doesn't find buyers at those areas, then it looks like a
test or break of the 2002 low at 768.63 on the SP500 cash
could be in the works. The 812.00-810.50 area on the SP
futures could offer support if that test is not going to
happen.

December 2008 SP futures resistance
symbols: emini = esz8 / big contract =spz8

848.50-850.00
858.50-859.00
868.00
875.00-876.00
884.00-885.00


December 2008 SP futures support
symbols: emini = esz8 / big contract =spz8

844.00-843.00
839.50-838.50
835.00-834.00
825.00-824.00
768.63 {SP500 cash}
812.00-810.50


December 2008 Nasdaq futures resistance
symbols: emini = nqz8 / big contract = ndz8

1159.00-1161.00
1177.50-1178.50
1185.50
1199.50-1201.00
1212.50-1213.25


December 2008 Nasdaq futures support
symbols: emini = nqz8 / big contract = ndz8

1148.50-1147.25
1138.50-1137.50
1132.50-1130.50
1128.50-1127.50


December 2008 Dow futures resistance
symbols: emini = ymz8

8245-8252
8336-8341
8425
8474-8482
8575-8580


December 2008 Dow futures support
symbols: emini = ymz8

8205-8197
8162-8154
8106-8098
8037-8031


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

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 11/11/08

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

TradeStalker's

R.B.I. Trader's Update

11 / 11 / 2008

(Published Since 1996)

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


Dateline: 6:28 pm eastern time, 11/11/2008


The key zone coming into Tuesday was at the 905.50-905.00
area on the SP futures. The SP futures opened at 905.00,
made a 905.50 high, and headed lower. That meant trouble and
new resistance areas were given. A reversal from just over
893.50 started a drop and the 882.00-880.50 support area
turned into a magnet. The SP futures went to 882.75 and
turned up. Updated resistance was given at 889.00 on the SP
futures and 1216 on the Nasdaq futures. The first bounce
reached 888.50 on the ES and 1216.25 on the NQ and they
dropped to 883.25 and 1210.00, respectively. After making
that double bottom, a sloppy bounce to 891.00 failed and the
market pulled back again. Then the Freddie-Fannie news hit
the tape and the SP sprinted to test the 905 area. The
market backed off but the SP futures turned up from 895.25
and then shot higher to 917.00 and the move fizzled and
reversed. The 895.25 level was reached on the first pullback
and a decent bounce to 906.25 followed, but it was sold and
the market rolled over again. The SP futures dropped to
886.25 and snapped back to 901.75 before fading into the
close.

Tuesday was a wild day for sure! The daily indicators are
either a bit oversold or neutral at the moment. However, the
moves on the upside are easily turned back, as if the market
doesn't like something else going on under the surface. On
the other side of the coin, the sharp drops are reversing
and bringing on the rally attempts. The market is in a big
range and another test of the 843 level on the SP futures
could be in the cards before a more sustainable rebound
occurs.

On Wednesday look for a shorting opportunity if there is
early strength as soon as the move stalls and begins to roll
over. That should occur in the first 20 minutes or so if
it's going to play out. If it does, then the first decent
pullback should set up a buying opportunity if a pullback
can hold the 887.00-886.50 area on the SP futures, or
quickly reverse if broken. If that is broken and not quickly
reversed, then the Tuesday lows would need to hold to avoid
potential trouble and another sharp downdraft.

The initial resistance is at the 905.50-906.50 area on the
SP futures and the 1239.00-1240.00 area on the Nasdaq
futures. If an early pop to those areas is not sold, then
the key hurdles on Wednesday are at the 916.00-917.00 area
on the SP futures and the 1251.25-1252.50 area on the Nasdaq
futures. If the market gets back up there and doesn't
reverse again, then the move could extend towards the
926.00-927.00 area on the SP futures and the 1261.50-1263.00
area on the Nasdaq futures.

The initial support is at the 887.00-886.50 area on the SP
futures and the 1214.50-1213.50 area on the Nasdaq futures.
If those areas are not defended on a pullback, then key
support is at the 882.00-880.50 area on the SP futures and
the 1206.50-1204.50 area on the Nasdaq futures. If the
market drops back down there, and cannot quickly turn back
up, then the next support would be down at the 877.00-876.00
area on the SP futures and the 1200.50-1199.50 area on the
Nasdaq futures. If those are tested and the move reverses,
it could start a decent rally. If they are easily broken,
then the 866.00-864.50 area on the SP futures and the
1190.25-1188.50 area on the Nasdaq futures would need to
hold, otherwise the downside could gather steam. If those
areas are broken, then a drop to the 834.00-833.00 area on
the SP futures should be bought, as it would coincide a
limit down move on Wednesday and that stall at support could
start a reversal.

December 2008 SP futures resistance
symbols: emini = esz8 / big contract =spz8

905.50-906.50
916.00-917.00
926.00-927.00


December 2008 SP futures support
symbols: emini = esz8 / big contract =spz8

887.00-886.50
882.00-880.50
877.00-876.00
866.00-864.50
834.00-833.00


December 2008 Nasdaq futures resistance
symbols: emini = nqz8 / big contract = ndz8

1239.00-1240.00
1251.25-1252.50
1261.50-1263.00


December 2008 Nasdaq futures support
symbols: emini = nqz8 / big contract = ndz8

1214.50-1213.50
1206.50-1204.50
1200.50-1199.50
1190.25-1188.50


December 2008 Dow futures resistance
symbols: emini = ymz8

8756-8763
8842-8849
8934-8942


December 2008 Dow futures support
symbols: emini = ymz8

8580-8575
8526-8517
8478-8472
8260-8254


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

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 11/10/08

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

TradeStalker's

R.B.I. Trader's Update

11 / 10 / 2008

(Published Since 1996)

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


Dateline: 7:12 pm eastern time, 11/10/2008


We came into Monday looking to short early strength as soon
as the move stalled and began to roll over. The SP futures
gapped up on the open and reached 952.00 and then reversed
in the first 5 minutes of trading. It then turned into a
trend down day into early afternoon, when the SP futures
bounced off 911.50 and then chopped higher. A rising wedge
pattern was formed and after fizzling and reversing from
926.25, the SP futures reversed and a pretty sharp drop to
new lows for the day occurred. Buying and short covering
came in in the last hour and the market rallied into the
close.

The action on Monday was lethargic at best. The market was
trend down into the afternoon on buyers' indifference it
seemed. The late bounce came from a test of the Friday low
on the SP futures. Some of the short term internal gauges
are compressed at Monday's close. Also, the VIX was up more
than 10% on Monday so some fear was present even though the
market wasn't hurt too badly. As long as the market doesn't
break the Monday lows, the bulls should be in charge on
Tuesday.

Look for the "sell early, buy the first pullback" type of
action to start Tuesday. If the market pops up and the move
stalls / reverses in the first 20 minutes, it should set up
a shorting opportunity. If the first pullback can hold above
the Monday low areas, then the market will be in shape for a
decent rally. If those low areas are not defended, it could
start another sharp selloff as the downside picks up some
momentum.

The initial resistance is at the 925.75-926.25 area on the
SP futures and the 1261.75-1262.50 area on the Nasdaq
futures. Those were sold on Monday, so if the market doesn't
get rejected from there again, then the next hurdles would
be up at the 935.50-936.25 area on the SP futures and the
1274.50-1274.75 area on the Nasdaq futures. If those areas
are broken and the market can keep going, then the key
resistance on Tuesday is at the 951.50-952.25 area on the SP
futures and the 1299.50-1300.50 area on the Nasdaq futures.
If the market gets that far and doesn't reverse, then the
key hurdles are at the 957.50-958.50 area on the SP futures
and the 1316.50-1318.00 area on the Nasdaq futures. If
somehow the market gets wings, then there should be
resistance at the 965.25-966.00 area on the SP futures and
the 1327.50-1328.50 area on the Nasdaq futures. Major
resistance is up at the 976.00-977.00 area on the SP futures
and the 1334.75-1335.50 area on the Nasdaq futures.

The first good support is at the 905.50-905.00 area on the
SP futures and the 1235.50-1234.50 area on the Nasdaq
futures. If those are tested and not quickly reversed, then
we could go for the 897.00 level on the SP futures and the
1224.50 level on the Nasdaq futures. If those are tested the
market needs to quickly reverse back to the upside to avoid
trouble. If they do not turn around from those areas, then a
drop towards the 892.50-891.50 area on the SP futures and
the 1216.50-1214.75 area on the Nasdaq futures is likely. If
a selloff to those areas cannot hold, then it opens the door
for a drop towards the 882.00-880.50 area on the SP futures
and/or the 1198.50-1197.00 area on the Nasdaq futures.

December 2008 SP futures resistance
symbols: emini = esz8 / big contract =spz8

925.75-926.25
935.50-936.25
951.50-952.25
957.50-958.50
965.25-966.00
976.00-977.00


December 2008 SP futures support
symbols: emini = esz8 / big contract =spz8

905.50-905.00
897.00
892.50-891.50
882.00-880.50


December 2008 Nasdaq futures resistance
symbols: emini = nqz8 / big contract = ndz8

1261.75-1262.50
1274.50-1274.75
1299.50-1300.50
1316.50-1318.00
1327.50-1328.50
1334.75-1335.50


December 2008 Nasdaq futures support
symbols: emini = nqz8 / big contract = ndz8

1235.50-1234.50
1224.50
1216.50-1214.75
1198.50-1197.00


December 2008 Dow futures resistance
symbols: emini = ymz8

8920-8925
9008-9013
9132-9138
9164-9171
9240-9246
9334-9341


December 2008 Dow futures support
symbols: emini = ymz8

8730-8724
8648
8616-8611
8526-8517


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

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 11/09/08

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

TradeStalker's

R.B.I. Trader's Update

11 / 9 / 2008

(Published Since 1996)

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


Dateline: 6:56 pm eastern time, 11/9/2008


We came in to Friday looking to short early strength. The SP
futures had a pop up open and then they reversed from 916.25
about 5 minutes into trading. The SP futures pulled back to
the Thursday close and then buying came in after reaching
905.00 and they ran up to 929.50, just under the 931.00-
932.00 resistance zone. The market pulled back, but the
updated support at 916 held (916.50 pullback low) and then
the SP futures bounced back to the 925 level. That turned
into a lid and there were 5 scalp opportunities on the short
side off that level. It was finally broken and the SP
futures ran up to 929.75 and stalled, and that offered a
good trade on the short side. The SP futures fell to 907.75
before reversing with 35 minutes left in stock trading.
Then, the worst "call" of the week/month was given when I
advised to avoid longs in the last 30 minutes. That was the
opposite of what we should have done as the market rallied
back to make its highs for the day at the close.

The averages had inside days on Friday, after falling more
than 100 points on the SP500 over 2 days. It took until the
last 30 minutes, but the market ended up making something
that looks like a decent trading low. The late day move must
prove itself strong by not giving back gains so easily. If
that occurs early this week, then we could rally back
towards the top of the big range the market is currently in.
If the market cannot follow through and instead further
strength is sold, then a pullback towards the Friday
afternoon lows must hold, otherwise the downside could again
gather some steam.

On Monday, look for a shorting opportunity if there is early
strength as soon as the move stalls and begins to roll
over. This would set up best if the initial resistance is
rejected. If that plays out, then the initial support areas
should hold and set up a buying opportunity if the market is
going to avoid more trouble.

The initial resistance is at the 940.00-941.00 area on the
SP futures and the 1294.50-1296.00 area on the Nasdaq
futures. If the market pops up there and reverses in the
first 20 minutes on Monday, then it sets up a good shorting
opportunity. If the market goes through those areas without
a problem, then the next hurdles would be at the 946.00-
946.50 area on the SP futures and the 1302.00-1303.00 area
on the Nasdaq futures. If those are not rejected, then the
957.50-958.50 area on the SP futures and the 1316.50-1318.00
area on the Nasdaq futures would be next. If the market gets
up there and isn't reversed, then the key resistance on
Monday is at the 965.25-966.00 area on the SP futures and
the 1327.50-1328.50 area on the Nasdaq futures. If the
market gets up there, beware of a reversal. If that doesn't
happen, then we could be in a little melt-up move and head
towards the 976.00-977.00 area on the SP futures and the
1334.75-1335.50 area on the Nasdaq futures.

The initial support is at the 929.25-928.50 area on the SP
futures and the 1280.00-1278.50 area on the Nasdaq futures.
If those areas are not bought, then a pullback towards the
921.00-920.50 area on the SP futures and the 1265.00-1264.00
area on the Nasdaq futures is likely. The market needs to
hold those areas to avoid trouble. If buyers don't hold
those areas, then the 917.25-916.50 area on the SP futures
and the 1257.00-1256.00 area on the Nasdaq futures is key
support. If the market cannot hold those late Friday low
areas, then another drop towards the 908.00-907.50 area on
the SP futures and the 1249.75-1248.25 area on the Nasdaq
futures is possible. Those will need to be quickly reversed
if broken to avoid a drop back towards the 898-897 area on
the SP futures.



December 2008 SP futures resistance
symbols: emini = esz8 / big contract =spz8

940.00-941.00
946.00-946.50
957.50-958.50 ** could be pivotal
965.25-966.00
976.00-977.00


December 2008 SP futures support
symbols: emini = esz8 / big contract =spz8

929.25-928.50
921.00-920.50
917.25-916.50
908.00-907.50
898-897


December 2008 Nasdaq futures resistance
symbols: emini = nqz8 / big contract = ndz8

1294.50-1296.00
1302.00-1303.00
1316.50-1318.00 ** could be pivotal
1327.50-1328.50
1334.75-1335.50


December 2008 Nasdaq futures support
symbols: emini = nqz8 / big contract = ndz8

1280.00-1278.50
1265.00-1264.00
1257.00-1256.00
1249.75-1248.25


December 2008 Dow futures resistance
symbols: emini = ymz8

9018-9024
9072-9078
9164-9171 ** could be pivotal
9240-9246
9334-9341


December 2008 Dow futures support
symbols: emini = ymz8

8911-8907
8852-8846
8811-8806
8731-8724


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

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 11/06/08

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

TradeStalker's

R.B.I. Trader's Update

11 / 6 / 2008

(Published Since 1996)

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


Dateline: 7:00 pm eastern time, 11/6/2008


The market gapped down on the open on Thursday, and after
popping up to fill the gaps, the SP futures rolled over from
a 950.50 high and it was a steady trend down move into 2pm
eastern time. A bounce from 900.50 (just above the 899.50-
898.00 support zone) took the SP futures to 920.25, just
under the 921 updated resistance, and the market backed off
rolled over again. A drop to 898.00 was reversed, but the
pop fizzled and the SP futures sold off to an 897.00 low
with 5 minutes left in stock trading. Buying/short covering
gave the futures feeble lift after stocks closed but then
sagged into settlement time.

The Dow lost 400 points on back to back days. The market was
so overextended that we shouldn't be surprised in current
conditions. The closing Trin at 3.88 on Wednesday and 4.14
on Thursday are normally signs of capitulation, and good
lows tend to be seen within 7 trading hours after such an
extreme. We shall see about that.

On Friday the Employment data will be released before the
open. The market is not in good shape, and unless/until the
market can establish a decent uptrend, the bounces should
continue to offer the better odds trades. A decent rally can
start any time, but it's better to let someone else buy
bottom tick. In order to get some of the downside pressure
off the market, the SP futures need to break the 920-921
area and not reverse, again. Absent that, the trends are
down and the market is still vulnerable.

The initial resistance is at the 914.00 level on the SP
futures [8764] and 1253.00 level on the Nasdaq futures. If
those are cleared, then the 920.25-921.00 area on the SP
futures [8812-8819] and 1267.50-1268.50 area on the Nasdaq
futures should be key areas. If the market gets back up
there and the move doesn't fail, as the rallies have been
doing, then the trends could be turning. The next hurdles
would be at the 931.00-932.00 area on the SP futures [8893-
8897] and 1281.50-1282.25 area on the Nasdaq futures. If the
market gets there and doesn't reverse, then a move towards
the 940.00-941.00 area on the SP futures [8952-8958] and
1288.50-1290.00 area on the Nasdaq futures could be in the
cards. That should be a tough area to get through, but if
something happens to spark a good rally that sticks, then we
could see a run towards the 946.00-946.50 area on the SP
futures [9002-9008] and 1294.50-1296.00 area on the Nasdaq
futures. Don't expect this, but if there is a good rally,
then the 957.50-958.50 area on the SP futures [9136-9144]
and 1320.50-1322.50 area on the Nasdaq futures would be key
resistance for this week.

The initial support is at the 898.00-897.00 area on the SP
futures [8616-8611] and 1236.50-1235.00 area on the Nasdaq
futures. If those areas are not held, or quickly reversed if
broken, then a drop towards the 886.00-884.50 area on the SP
futures [8498-8491] and 1220.00-1218.00 area on the Nasdaq
futures is likely. The market has been hit hard, so we could
see a decent bounce if those are tested and the market
reverses. If that doesn't occur, then there isn't a whole
lot of support until getting to the 865.00-864.00 area on
the SP futures [8262-8254] and 1192.00-1190.00 area on the
Nasdaq futures. If the market drops that far and can not
hold, then we can go for the 845.50 level on the SP futures,
which would be limit down. If that happens, then watch the
SP500 cash while the futures stay locked at the limit. If
the SP500 cash sells off to the 835.00-834.00 area when the
curb is lifted, it would coincide with the low for the year.
That would made that same 835-834 area on the SP futures key
support. If the market tests that area, it will need to
quickly reverse and rally with some gusto to avoid a
collapse on Friday.

December 2008 SP futures resistance
symbols: emini = esz8 / big contract =spz8

914.00
920.25-921.00
931.00-932.00
940.00-941.00
946.00-946.50
957.50-958.50

December 2008 SP futures support
symbols: emini = esz8 / big contract =spz8

898.00-897.00
886.00-884.50
865.00-864.00
835.00-834.00

December 2008 Nasdaq futures resistance
symbols: emini = nqz8 / big contract = ndz8

1253.00
1267.50-1268.50
1281.50-1282.25
1288.50-1290.00
1294.50-1296.00
1320.50-1322.50

December 2008 Nasdaq futures support
symbols: emini = nqz8 / big contract = ndz8

1236.50-1235.00
1220.00-1218.00
1192.00-1190.00

December 2008 Dow futures resistance
symbols: emini = ymz8

8764
8812-8819
8893-8897
8952-8958
9002-9008
9136-9144

December 2008 Dow futures support
symbols: emini = ymz8

8616-8611
8498-8491
8262-8254


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

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 11/05/08

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

TradeStalker's

R.B.I. Trader's Update

11 / 5 / 2008

(Published Since 1996)

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


Dateline: 6:35 pm eastern time, 11/5/2008


The market was vulnerable due to the overbought status on
Wednesday and the market opened down about 15 points on the
SP futures. After reaching 982.50, the market turned back up
and the SP futures rallied back to 999.75. The move fizzled
and after a dip to 994.25, the SP futures popped to a lower
high at 999.25 and reversed. That 1-2-3 top started a pretty
sharp drop as the SP futures fell to 965.50 and then bounced
back. The 977-978 area was tested 3 times and the last test
reversed from 975.25 with just under an hour left in
trading. The 956-955 area was easily cut through as the SP
futures fell to 947.00 just before stocks closed. A bounce
into settlement put the futures above fair value as shorts
covered into the close.

On Thursday look for shorting opportunities as soon as the
upside momentum fizzles and the move begins to turn over.
The market could have some decent bounces, especially if a
gap down open reverses from the initial support areas.
However, it will take a break over the 976-977 area on the
SP futures, that doesn't quickly reverse, to turn the market
back up. Unless that occurs, this selloff could go for the
936.00-935.50 area on the SP futures, and quite possibly as
far as the 927.50-926.50 area before a reversal occurs. If
that area isn't defended, then we could be seeing major
support at the 919.00-918.00 Fed day low area.

The initial resistance is at the 958.75-959.50 area on the
SP futures and the 1306.50-1308.00 area on the Nasdaq
futures. The market will need to get over those areas and
not quickly reverse to avoid more trouble on Thursday. If
those areas are not rejected, then the 965.25-966.00 area on
the SP futures and the 1316.50-1318.00 area on the Nasdaq
futures would be next. Those areas will be pivotal if
reached early on Thursday. If those are not sold, then we
could test the 976.00-977.00 area on the SP futures and the
1331.75-1332.75 area on the Nasdaq futures. Those would be
key resistance areas if reached again. If the market can get
over those areas and not quickly reverse, then the market
should be out of trouble short term.

The initial support should be key and is at the 944.00-
943.00 area on the SP futures and the 1272.50-1271.00 area
on the Nasdaq futures. If there is an early reversal back up
from those areas, we could get a decent countertrend trade
on the long side. Just don't fall in love with the long
side, as bounces will likely be sold. If those areas are not
quickly reversed, then the next support would be down at the
936.00-935.50 area on the SP futures and the 1262.00-1260.50
area on the Nasdaq futures. If the market cannot turn around
from there, then the 927.50-926.50 area on the SP futures
and the 1251.50-1249.75 area on the Nasdaq futures should be
very good support. However, if buyers don't step to the
plate and reverse, then the door is opened for a drop
towards the 920.00-918.50 area on the SP futures. That is a
50% retracement from 834.00 to 1006.75, along with the Fed
day spike low on October 29th. If that key area also is
broken and the market cannot quickly reverse, then a drop
towards the 899.50-898.00 area on the SP futures could be in
the cards.

December 2008 SP futures resistance
symbols: emini = esz8 / big contract =spz8

958.75-959.50
965.25-966.00
976.00-977.00
984.50-985.50 if 977 broken/held

December 2008 SP futures support
symbols: emini = esz8 / big contract =spz8

944.00-943.00
936.00-935.50
927.50-926.50
920.00-918.50
899.50-898.00


December 2008 Nasdaq futures resistance
symbols: emini = nqz8 / big contract = ndz8

1306.50-1308.00
1316.50-1318.00
1331.75-1332.75


December 2008 Nasdaq futures support
symbols: emini = nqz8 / big contract = ndz8

1272.50-1271.00
1262.00-1260.50
1251.50-1249.75


December 2008 Dow futures resistance
symbols: emini = ymz8

9184-9190
9240-9246
9334-9341


December 2008 Dow futures support
symbols: emini = ymz8

9061-9054
9002-8996
8914-8907


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

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.
*************************************************