The “1-2-3 Top” that you will read about below is one of the many trade set ups that I personally developed and use in my own trading.
(CLICK HERE to Watch video of “1-2-3 Top”)
The 1-2-3 Top is a powerful setup in which the second move towards the top falls short of a double top. The 1-2-3 Top is very close to the same pattern as the "second chance entry." However, it differs from the second chance entry by being the actual top or bottom of the day (to that point in the trading day, of course).
For labeling a 1-2-3 top, the #1 point is the new high for the day. The #2 point is the first pullback low from that new high for the day. The #3 point is the bounce back high off of point #2, which is a lower high than at the #1 point. The 3 “points” on the chart will be clearer after you see the video.
This is a pattern that sets up reversals, so we are looking for a clue that the reversal will begin from that #3 point. When the top at #1 comes at (or near) fixed resistance zone listed in my nightly update, it strengthens the odds of the setup. Since the resistance was rejected once already, and caused a pullback, a bounce to that area is one reason for entry, using an initial hard stop just above the high for the day.
If the #3 point is NOT at fixed resistance area, but there is a bounce back to just under the high of the day without a Tick extreme (+1000 or higher), wait until the price curls over from the #3 position, or falls fast and pulls back a little. That is entering after some “proof” that there is a potential intra-day top in place.
A third way to enter is to use a “trigger” which also gives some proof of a turn. The “official trigger” that an intra-day top should be in place is a break of the #2 point. However, waiting for that doesn’t always give a good entry. To fine-tune the “trigger” entry, I use a break below the low of the point #3 high bar. This can be done on the 5 minute chart, however for this setup I will use the bars on a 2 minute chart for the “trigger” entry.
When you enter on a curl top from point #3, or use a “trigger” or use a pullback toward the second top, your "risk" (the money at risk, not the odds on the trade) isn't as good as an anticipation entry. An anticipation entry would get you short very near the top at point 3, while the other entry techniques would have you short at a lower price. Your initial hard stop is further from your entry, risking more money on the setup.
On the other hand, the following all make the trade a higher-probability entry than the anticipation entry: A) entries on a "down curl from 3" B) a pullback toward #3 or C) using a “trigger” on the 2 minute chart.
If you take the curl entry (after point 3) and the market just sits there, get out immediately and take another look. Don't sit and hope, no matter how good you feel about the setup. This will give you a fresh look without your capital being on the line.
Time in the market equals risk exposure. Staying out of the market when conditions aren't favorable is an important way to reduce the overall risk of trading. If a setup pattern re-establishes itself, then a second entry can be taken.
Here is a 1-2-3 Top that I captured live on audio/visual. I'm "walking" you through this set up as it develops:
CLICK HERE to watch VIDEO of 1-2-3 Top
(please give it a couple of seconds to start playing)
Good Trading,
Mike Reed
CLICK HERE for FREE Trading Articles and Videos!
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)
Sunday, March 29, 2009
Thursday, March 26, 2009
TradeStalker's RBI Update 03/26/09
.................................................
TradeStalker's
R.B.I. Trader's Update
3 / 26 / 2009
(Published Since 1996)
...............................................
Dateline: 5:47 pm eastern time, 3/26/2009
The game plan was to short early strength on Thursday and
then if the market obliged, turn around and get long when
the first decent pullback reversed. The game plan went
according to script. The ES popped up 10.50 points on the
open on Thursday but the strength was reversed from 823.25
resistance about 15 minutes into the trading day. From
there, the ES dropped 12.25 points to 811.00 and bounced a
bit. A pullback to 811.00 was then reversed and with a
little double bottom in place the ES grinded back up to
823.00 before a decent pullback occurred. The ES found
buyers around 817 on the pullback and turned up and rallied
to 829.00 before reversing. That was just over the 827.25-
828.00 resistance zone and after a pullback to new support
at 823.00, the ES bounced back to 828.75 and reversed. That
set up a 1-2-3 top and the ES fell back to 817.00 with an
hour to go in trading. Buying came back in and after some
chopping around, the ES ran up to 830.50 and then pulled
back into settlement.
The market is acting very well, but don't be surprised if
there is a decent shake out soon. When that comes, it will
likely set up a good buying opportunity. At the moment, the
market is in good shape unless there is a close under 814 on
the SP500 cash. Unless that occurs, it looks like the
pullbacks will be constructive in nature.
On Friday, look to get short if there is early strength that
fizzles/reverses in the first 20 minutes or so. Thereafter,
as long as the ES can hold and reverse from the 817.25-
816.50 area, the trends remain up and buying the pullbacks
should be the safer trade. If that area is broken and not
quickly reversed, then the market dynamics could be
changing.
June 2009 SP futures resistance
symbols: emini = esm9 / big contract =spm9
830.50-832.00
834.75
837.50-838.00
841.50-842.50
June 2009 SP futures support
symbols: emini = esm9 / big contract =spm9
824.00-823.50
817.25-816.50
811.50-811.00
803.00-802.50
June 2009 Nasdaq futures resistance
symbols: emini = nqm9 / big contract = ndm9
1281.25-1282.00
1286.00
1292.50-1294.00
1297.50-1298.25
June 2009 Nasdaq futures support
symbols: emini = nqm9 / big contract = ndm9
1272.25-1271.50
1262.00-1261.00
1250.50-1249.75
1242.00-1241.50
June 2009 Dow futures resistance
symbols: emini = ymm9
7898-7908
7924
7961-7965
7999-8003
June 2009 Dow futures support
symbols: emini = ymm9
7829-7825
7762-7758
7698-7691
7631-7627
CLICK HERE for FREE Trading Articles and Videos!
---------------------------
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) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
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)
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
R.B.I. Trader's Update
3 / 26 / 2009
(Published Since 1996)
...............................................
Dateline: 5:47 pm eastern time, 3/26/2009
The game plan was to short early strength on Thursday and
then if the market obliged, turn around and get long when
the first decent pullback reversed. The game plan went
according to script. The ES popped up 10.50 points on the
open on Thursday but the strength was reversed from 823.25
resistance about 15 minutes into the trading day. From
there, the ES dropped 12.25 points to 811.00 and bounced a
bit. A pullback to 811.00 was then reversed and with a
little double bottom in place the ES grinded back up to
823.00 before a decent pullback occurred. The ES found
buyers around 817 on the pullback and turned up and rallied
to 829.00 before reversing. That was just over the 827.25-
828.00 resistance zone and after a pullback to new support
at 823.00, the ES bounced back to 828.75 and reversed. That
set up a 1-2-3 top and the ES fell back to 817.00 with an
hour to go in trading. Buying came back in and after some
chopping around, the ES ran up to 830.50 and then pulled
back into settlement.
The market is acting very well, but don't be surprised if
there is a decent shake out soon. When that comes, it will
likely set up a good buying opportunity. At the moment, the
market is in good shape unless there is a close under 814 on
the SP500 cash. Unless that occurs, it looks like the
pullbacks will be constructive in nature.
On Friday, look to get short if there is early strength that
fizzles/reverses in the first 20 minutes or so. Thereafter,
as long as the ES can hold and reverse from the 817.25-
816.50 area, the trends remain up and buying the pullbacks
should be the safer trade. If that area is broken and not
quickly reversed, then the market dynamics could be
changing.
June 2009 SP futures resistance
symbols: emini = esm9 / big contract =spm9
830.50-832.00
834.75
837.50-838.00
841.50-842.50
June 2009 SP futures support
symbols: emini = esm9 / big contract =spm9
824.00-823.50
817.25-816.50
811.50-811.00
803.00-802.50
June 2009 Nasdaq futures resistance
symbols: emini = nqm9 / big contract = ndm9
1281.25-1282.00
1286.00
1292.50-1294.00
1297.50-1298.25
June 2009 Nasdaq futures support
symbols: emini = nqm9 / big contract = ndm9
1272.25-1271.50
1262.00-1261.00
1250.50-1249.75
1242.00-1241.50
June 2009 Dow futures resistance
symbols: emini = ymm9
7898-7908
7924
7961-7965
7999-8003
June 2009 Dow futures support
symbols: emini = ymm9
7829-7825
7762-7758
7698-7691
7631-7627
CLICK HERE for FREE Trading Articles and Videos!
---------------------------
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) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
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)
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 03/25/09
.................................................
TradeStalker's
R.B.I. Trader's Update
3 / 25 / 2009
(Published Since 1996)
...............................................
Dateline: 6:06 pm eastern time, 3/25/2009
The market opened on Wednesday and kept going until reaching
and reversing from 823.50 on the ES and it pulled back. The
815.25 level held and the ES popped over 820 and reversed a
couple of times going into noon. The last pop and reverse
happened shortly after noon, as the ES reversed from 821.50
again. After the 815.25 level was broken, buyers pulled bids
and shorts pressed them lower as the ES went trend-down to
787.00 by 3 pm. Buyers stepped to the plate and the ES
rallied back to 812.00 before softening into the close.
The daily indicators are in neutral for the most part and
the sentiment is a bit mixed. The market hasn't been able to
hold its gains, but it cannot stay down for very long
either. So, for now lets treat this as a trading range. A
test of the Wednesday lows would likely set up a buying
opportunity, if the move stalls and then begins to turn up.
On the other side of the coin, if the ES gets over 820 again
and reverses back down through that level, it should set up
a selling opportunity. For now, it looks like the market is
safe from a big down day unless the ES breaks the 787.00 low
from Wednesday and cannot quickly reverse.
On Thursday look to short early strength if it fizzles and
begins to roll over in the first 20-40 minutes of trading.
If that plays out and the first decent pullback can hold, it
will set up a good trade on the long side. The way the
market has acted, buying the sharp drops that reverse should
set up good buying opportunities. On the other side of the
coin, the rallies that fizzle should set up shorting
opportunities, but better if the ES reverses from near 820.
June 2009 SP futures resistance
symbols: emini = esm9 / big contract =spm9
812.00-812.50
815.00-815.25
821.50-823.00
827.25-828.00
June 2009 SP futures support
symbols: emini = esm9 / big contract =spm9
803.00-802.50
795.50-795.00
787.50-787.00
782.00-780.50
June 2009 Nasdaq futures resistance
symbols: emini = nqm9 / big contract = ndm9
1239.00-1240.00
1244.75-1245.50
1253.50-1254.25
1263.50-1264.50
June 2009 Nasdaq futures support
symbols: emini = nqm9 / big contract = ndm9
1219.00-1218.50
1213.75-1212.50
1206.25-1205.25
1200.00-1198.75
June 2009 Dow futures resistance
symbols: emini = ymm9
7712-7716
7754-7758
7797-7809
7848-7853
June 2009 Dow futures support
symbols: emini = ymm9
7631-7627
7560-7546
7495-7491
7442-7434
---------------------------
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) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
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)
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
R.B.I. Trader's Update
3 / 25 / 2009
(Published Since 1996)
...............................................
Dateline: 6:06 pm eastern time, 3/25/2009
The market opened on Wednesday and kept going until reaching
and reversing from 823.50 on the ES and it pulled back. The
815.25 level held and the ES popped over 820 and reversed a
couple of times going into noon. The last pop and reverse
happened shortly after noon, as the ES reversed from 821.50
again. After the 815.25 level was broken, buyers pulled bids
and shorts pressed them lower as the ES went trend-down to
787.00 by 3 pm. Buyers stepped to the plate and the ES
rallied back to 812.00 before softening into the close.
The daily indicators are in neutral for the most part and
the sentiment is a bit mixed. The market hasn't been able to
hold its gains, but it cannot stay down for very long
either. So, for now lets treat this as a trading range. A
test of the Wednesday lows would likely set up a buying
opportunity, if the move stalls and then begins to turn up.
On the other side of the coin, if the ES gets over 820 again
and reverses back down through that level, it should set up
a selling opportunity. For now, it looks like the market is
safe from a big down day unless the ES breaks the 787.00 low
from Wednesday and cannot quickly reverse.
On Thursday look to short early strength if it fizzles and
begins to roll over in the first 20-40 minutes of trading.
If that plays out and the first decent pullback can hold, it
will set up a good trade on the long side. The way the
market has acted, buying the sharp drops that reverse should
set up good buying opportunities. On the other side of the
coin, the rallies that fizzle should set up shorting
opportunities, but better if the ES reverses from near 820.
June 2009 SP futures resistance
symbols: emini = esm9 / big contract =spm9
812.00-812.50
815.00-815.25
821.50-823.00
827.25-828.00
June 2009 SP futures support
symbols: emini = esm9 / big contract =spm9
803.00-802.50
795.50-795.00
787.50-787.00
782.00-780.50
June 2009 Nasdaq futures resistance
symbols: emini = nqm9 / big contract = ndm9
1239.00-1240.00
1244.75-1245.50
1253.50-1254.25
1263.50-1264.50
June 2009 Nasdaq futures support
symbols: emini = nqm9 / big contract = ndm9
1219.00-1218.50
1213.75-1212.50
1206.25-1205.25
1200.00-1198.75
June 2009 Dow futures resistance
symbols: emini = ymm9
7712-7716
7754-7758
7797-7809
7848-7853
June 2009 Dow futures support
symbols: emini = ymm9
7631-7627
7560-7546
7495-7491
7442-7434
---------------------------
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) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
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)
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 03/24/09
.................................................
TradeStalker's
R.B.I. Trader's Update
3 / 24 / 2009
(Published Since 1996)
...............................................
Dateline: 6:19 pm eastern time, 3/24/2009
The ES opened lower on Tuesday and bounced from 805.25 to
815.00 in the first 40 minutes of trading. A pullback went
back to 805.25 and turned up, but the move fizzled after
reaching 814.00 and the ES pulled back 6 points to 808.00.
Buying came in and ran the ES up to 820.00, where it quickly
reversed. One more pop failed at 819.00 on the ES with just
over 90 minutes left in trading. The 813 support finally was
broken and it sent the ES down to 801.25 just before
settlement.
The extremely overbought market couldn't hold its gains on
Tuesday, and the market averages made double tops before
closing poorly. The market should have more to go on the
downside before things turn around again. On Wednesday, the
market needs to clear and hold the 811.75-812.25 area on the
ES and the 1243.50-1244.00 area on the NQ in order to get to
neutral territory. A drop towards the 797.50-797.00 that is
quickly reversed could set up a trade on the long side.
However, shorting strength that fizzles (a "fizzle" is shown
as either rejection of an area, or loss of momentum after a
move has run awhile, where price begins to slide sideways)
should offer the better opportunities under the 811.75-
812.25 area on the ES and the 1243.50-1244.00 area on the
NQ.
So, look for early strength to be sold, and then the first
decent pullback that then reverses sets up a trade on the
long side. If the ES cannot hold and reverse from the
797.50-797.00 area on the ES, then a selloff could gather a
bit of steam.
June 2009 SP futures resistance
symbols: emini = esm9 / big contract =spm9
807.50-808.00
811.75-812.25
815.50
819.00-820.00
June 2009 SP futures support
symbols: emini = esm9 / big contract =spm9
802.00-801.50
797.50-797.00
793.00-792.50
782.00-780.50
June 2009 Nasdaq futures resistance
symbols: emini = nqm9 / big contract = ndm9
1237.00-1237.75
1243.50-1244.00
1249.50
1253.50-1255.00
June 2009 Nasdaq futures support
symbols: emini = nqm9 / big contract = ndm9
1232.00-1231.50
1226.75-1225.75
1218.00-1216.75
1204.00-1203.00
June 2009 Dow futures resistance
symbols: emini = ymm9
7642-7645
7682-7684
7712
7743-7747
June 2009 Dow futures support
symbols: emini = ymm9
7589-7586
7536-7532
7492-7488
7372-7363
---------------------------
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) 2009 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.
*************************************************
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)
TradeStalker's
R.B.I. Trader's Update
3 / 24 / 2009
(Published Since 1996)
...............................................
Dateline: 6:19 pm eastern time, 3/24/2009
The ES opened lower on Tuesday and bounced from 805.25 to
815.00 in the first 40 minutes of trading. A pullback went
back to 805.25 and turned up, but the move fizzled after
reaching 814.00 and the ES pulled back 6 points to 808.00.
Buying came in and ran the ES up to 820.00, where it quickly
reversed. One more pop failed at 819.00 on the ES with just
over 90 minutes left in trading. The 813 support finally was
broken and it sent the ES down to 801.25 just before
settlement.
The extremely overbought market couldn't hold its gains on
Tuesday, and the market averages made double tops before
closing poorly. The market should have more to go on the
downside before things turn around again. On Wednesday, the
market needs to clear and hold the 811.75-812.25 area on the
ES and the 1243.50-1244.00 area on the NQ in order to get to
neutral territory. A drop towards the 797.50-797.00 that is
quickly reversed could set up a trade on the long side.
However, shorting strength that fizzles (a "fizzle" is shown
as either rejection of an area, or loss of momentum after a
move has run awhile, where price begins to slide sideways)
should offer the better opportunities under the 811.75-
812.25 area on the ES and the 1243.50-1244.00 area on the
NQ.
So, look for early strength to be sold, and then the first
decent pullback that then reverses sets up a trade on the
long side. If the ES cannot hold and reverse from the
797.50-797.00 area on the ES, then a selloff could gather a
bit of steam.
June 2009 SP futures resistance
symbols: emini = esm9 / big contract =spm9
807.50-808.00
811.75-812.25
815.50
819.00-820.00
June 2009 SP futures support
symbols: emini = esm9 / big contract =spm9
802.00-801.50
797.50-797.00
793.00-792.50
782.00-780.50
June 2009 Nasdaq futures resistance
symbols: emini = nqm9 / big contract = ndm9
1237.00-1237.75
1243.50-1244.00
1249.50
1253.50-1255.00
June 2009 Nasdaq futures support
symbols: emini = nqm9 / big contract = ndm9
1232.00-1231.50
1226.75-1225.75
1218.00-1216.75
1204.00-1203.00
June 2009 Dow futures resistance
symbols: emini = ymm9
7642-7645
7682-7684
7712
7743-7747
June 2009 Dow futures support
symbols: emini = ymm9
7589-7586
7536-7532
7492-7488
7372-7363
---------------------------
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) 2009 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.
*************************************************
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)
TradeStalker's RBI Update 03/23/09
.................................................
TradeStalker's
R.B.I. Trader's Update
3 / 23 / 2009
(Published Since 1996)
...............................................
Dateline: 6:55 pm eastern time, 3/23/2009
The ES open up 19.25 points on Monday, and after churning
for 25 minutes the upside was back in gear. The ES rallied
to 802.25 key resistance by 1:15 pm and the ES pulled back.
After dropping to 792.50, the ES based out and then finally
pushed through the 800.50-802.50 resistance zone. That
brought in more buying that fed upon itself until reaching
821.00, then the futures pulled back to settle will under
fair value.
The Dow gained 497 points and the SP500 gained more than 54
points on Monday, and in the process the market blew through
an old key area on the SP500 cash. Monday's internals and
price action was opposite of a big capitulation day. The
tiny closing Trin at .26 is the lowest since November 13,
2008. The SP500 dropped 159 points on a closing basis 5 days
later in that case. Other internal gauges are back to
extreme overbought on the short term.
The market looks to be in pretty good shape, however due for
a set-back after the huge move on Monday. If there is early
strength, and the ES goes over 820 and then crosses back
down through 820, that sets up a shorting opportunity. Just
beware that the first decent pullback should set up another
buying opportunity. On the downside, a simple pullback needs
to hold around the 803.50-803.00 area on the ES. If the
market falls that far, and can not get turned back around
and begin another comeback, then things are changing again
and the 793.00-792.50 critical support would need to be
reversed to avoid another breakdown.
June 2009 SP futures resistance
symbols: emini = esm9 / big contract =spm9
820.50-821.00
827.50-828.50
831.75-832.00
837.00-838.00 SP500 Cash
June 2009 SP futures support
symbols: emini = esm9 / big contract =spm9
808.75-806.00
803.50-803.00
797.50-797.00
793.00-792.50
782.00-780.50
June 2009 Nasdaq futures resistance
symbols: emini = nqm9 / big contract = ndm9
1257.00-1258.50
1264.75-1265.75
1270.50-1272.25
June 2009 Nasdaq futures support
symbols: emini = nqm9 / big contract = ndm9
1244.50-1242.00
1238.00-1237.00
1229.75-1228.75
1224.00-1223.00
1204.00-1203.00
June 2009 Dow futures resistance
symbols: emini = ymm9
7744-7751
7801-7809
7846-7852
June 2009 Dow futures support
symbols: emini = ymm9
7634-7620
7589-7586
7536-7532
7492-7488
7372-7363
---------------------------
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) 2009 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.
*************************************************
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)
TradeStalker's
R.B.I. Trader's Update
3 / 23 / 2009
(Published Since 1996)
...............................................
Dateline: 6:55 pm eastern time, 3/23/2009
The ES open up 19.25 points on Monday, and after churning
for 25 minutes the upside was back in gear. The ES rallied
to 802.25 key resistance by 1:15 pm and the ES pulled back.
After dropping to 792.50, the ES based out and then finally
pushed through the 800.50-802.50 resistance zone. That
brought in more buying that fed upon itself until reaching
821.00, then the futures pulled back to settle will under
fair value.
The Dow gained 497 points and the SP500 gained more than 54
points on Monday, and in the process the market blew through
an old key area on the SP500 cash. Monday's internals and
price action was opposite of a big capitulation day. The
tiny closing Trin at .26 is the lowest since November 13,
2008. The SP500 dropped 159 points on a closing basis 5 days
later in that case. Other internal gauges are back to
extreme overbought on the short term.
The market looks to be in pretty good shape, however due for
a set-back after the huge move on Monday. If there is early
strength, and the ES goes over 820 and then crosses back
down through 820, that sets up a shorting opportunity. Just
beware that the first decent pullback should set up another
buying opportunity. On the downside, a simple pullback needs
to hold around the 803.50-803.00 area on the ES. If the
market falls that far, and can not get turned back around
and begin another comeback, then things are changing again
and the 793.00-792.50 critical support would need to be
reversed to avoid another breakdown.
June 2009 SP futures resistance
symbols: emini = esm9 / big contract =spm9
820.50-821.00
827.50-828.50
831.75-832.00
837.00-838.00 SP500 Cash
June 2009 SP futures support
symbols: emini = esm9 / big contract =spm9
808.75-806.00
803.50-803.00
797.50-797.00
793.00-792.50
782.00-780.50
June 2009 Nasdaq futures resistance
symbols: emini = nqm9 / big contract = ndm9
1257.00-1258.50
1264.75-1265.75
1270.50-1272.25
June 2009 Nasdaq futures support
symbols: emini = nqm9 / big contract = ndm9
1244.50-1242.00
1238.00-1237.00
1229.75-1228.75
1224.00-1223.00
1204.00-1203.00
June 2009 Dow futures resistance
symbols: emini = ymm9
7744-7751
7801-7809
7846-7852
June 2009 Dow futures support
symbols: emini = ymm9
7634-7620
7589-7586
7536-7532
7492-7488
7372-7363
---------------------------
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) 2009 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.
*************************************************
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)
TradeStalker's RBI Update 03/22/09
.................................................
TradeStalker's
R.B.I. Trader's Update
3 / 22 / 2009
(Published Since 1996)
...............................................
Dateline: 5:17 pm eastern time, 3/22/2009
After a drop to 746.00 on the ES early in the week, the
market rallied strongly into Wednesday afternoon. The SP500
revisited the scene of the crime, where the February 17th
breakdown was triggered, and it coincided with a 50%
retracement and a falling 50 day moving average. With that
being too much to get through after a 20% rally off the low,
that marked a top that was sold again on Thursday's open.
After a poor day, a number of sell signals flashed for
Friday's trading, and we got just that. The ES made a double
top at the 785.00 initial resistance level, and it was a
trend down move to 761.50 with 2 hours to go in the trading
day. That was just 1 tick under the last listed support zone
at 762.00-761.75, and the ES bounced back to 771.75. The
move fizzled and failed and the ES went back down to test
the low at the 4 pm close for stocks.
The high and low were both at resistance and support areas
on Friday. The market is just 2 days off of what appears to
be a decent trading high, so the bounces should continue to
fail. The sentiment reached extremes not seen in more than a
year in the options market and the Vix giving 4 sell signals
in 2 days hasn't been reversed just yet. This move could
take the ES back towards the 749.00-748.50 zone on this leg
down. If that occurs, and the market can get turned back up,
then another decent rally could occur. If there is a selloff
to that area, and it isn't reversed, then the market will be
breaking back down. Odds would then favor a drop back to the
734-733 area, and possibly back under 720 before a reversal
occurs.
On Monday, if the ES breaks the 762.00-761.50 area and can
quickly reverse back up, then a decent trade could set up on
the long side. On the other side of the coin, a pop up open
that fizzles will offer a good shorting opportunity. After
the early going, it will take a break and hold over the
initial resistance zones to change the downside pace. If
that happens, there could be more upside but beware of a
reversal as the bounces are not sticking.
June 2009 SP futures resistance
symbols: emini = esm9 / big contract =spm9
772.50-773.25
779.50-780.25 **key**
784.50-785.25 **major Monday**
789.25-790.00
June 2009 SP futures support
symbols: emini = esm9 / big contract =spm9
762.00-761.50
758.00-757.50
753.00-752.50
749.00-748.50
June 2009 Nasdaq futures resistance
symbols: emini = nqm9 / big contract = ndm9
1194.25-1195.00
1204.25-1205.25 **key**
1213.50-1214.00 **major Monday**
1220.50-1222.00
June 2009 Nasdaq futures support
symbols: emini = nqm9 / big contract = ndm9
1178.00-1177.25
1172.75-1172.00
1166.50-1165.50
1161.75-1161.00
June 2009 Dow futures resistance
symbols: emini = ymm9
7288-7291
7375-7380 **key**
7402-7406 **major Monday**
7461-7464
June 2009 Dow futures support
symbols: emini = ymm9
7201-7197
7164-7158
7112-7107
7078-7074
---------------------------
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) 2009 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.
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
*************************************************
TradeStalker's
R.B.I. Trader's Update
3 / 22 / 2009
(Published Since 1996)
...............................................
Dateline: 5:17 pm eastern time, 3/22/2009
After a drop to 746.00 on the ES early in the week, the
market rallied strongly into Wednesday afternoon. The SP500
revisited the scene of the crime, where the February 17th
breakdown was triggered, and it coincided with a 50%
retracement and a falling 50 day moving average. With that
being too much to get through after a 20% rally off the low,
that marked a top that was sold again on Thursday's open.
After a poor day, a number of sell signals flashed for
Friday's trading, and we got just that. The ES made a double
top at the 785.00 initial resistance level, and it was a
trend down move to 761.50 with 2 hours to go in the trading
day. That was just 1 tick under the last listed support zone
at 762.00-761.75, and the ES bounced back to 771.75. The
move fizzled and failed and the ES went back down to test
the low at the 4 pm close for stocks.
The high and low were both at resistance and support areas
on Friday. The market is just 2 days off of what appears to
be a decent trading high, so the bounces should continue to
fail. The sentiment reached extremes not seen in more than a
year in the options market and the Vix giving 4 sell signals
in 2 days hasn't been reversed just yet. This move could
take the ES back towards the 749.00-748.50 zone on this leg
down. If that occurs, and the market can get turned back up,
then another decent rally could occur. If there is a selloff
to that area, and it isn't reversed, then the market will be
breaking back down. Odds would then favor a drop back to the
734-733 area, and possibly back under 720 before a reversal
occurs.
On Monday, if the ES breaks the 762.00-761.50 area and can
quickly reverse back up, then a decent trade could set up on
the long side. On the other side of the coin, a pop up open
that fizzles will offer a good shorting opportunity. After
the early going, it will take a break and hold over the
initial resistance zones to change the downside pace. If
that happens, there could be more upside but beware of a
reversal as the bounces are not sticking.
June 2009 SP futures resistance
symbols: emini = esm9 / big contract =spm9
772.50-773.25
779.50-780.25 **key**
784.50-785.25 **major Monday**
789.25-790.00
June 2009 SP futures support
symbols: emini = esm9 / big contract =spm9
762.00-761.50
758.00-757.50
753.00-752.50
749.00-748.50
June 2009 Nasdaq futures resistance
symbols: emini = nqm9 / big contract = ndm9
1194.25-1195.00
1204.25-1205.25 **key**
1213.50-1214.00 **major Monday**
1220.50-1222.00
June 2009 Nasdaq futures support
symbols: emini = nqm9 / big contract = ndm9
1178.00-1177.25
1172.75-1172.00
1166.50-1165.50
1161.75-1161.00
June 2009 Dow futures resistance
symbols: emini = ymm9
7288-7291
7375-7380 **key**
7402-7406 **major Monday**
7461-7464
June 2009 Dow futures support
symbols: emini = ymm9
7201-7197
7164-7158
7112-7107
7078-7074
---------------------------
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) 2009 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.
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
*************************************************
TradeStalker's RBI Update 03/19/09
.................................................
TradeStalker's
R.B.I. Trader's Update
3 / 19 / 2009
(Published Since 1996)
...............................................
Dateline: 6:20 pm eastern time, 3/19/2009
In last night's update I wrote a lot of reasons why the 803-
805 area on the SP500 cash could be a top, finishing by
saying:
"So, there is reason for the areas around the Wednesday
highs to cause problems, and potentially be a bigger
picture reversal zone."
Then, the market then gave us a gift on Thursday morning. We
wanted to short early strength, and the ES popped up to
801.00 while the SP500 cash made an 803.24 high on the open,
and the market headed straight down. The ES dropped to 16.75
points to 784.25 before bouncing. The move fizzled and
reversed from 793.75 on the ES, and then it dropped 15.75
points to 778.00 and bounced again. The move didn't stick,
and the from 789.25 bounce high, the ES dropped 12.00 points
to make its low with 5 minutes left in stock trading.
The rejection from the key resistance was more than just a
pullback it appears. The Vix reversal gave 3 more sell
signals at Thursday's close. The extreme overbought readings
still need a bit of time to work off that off, so the weight
of the evidence says there should be more on the downside
coming. It should be a very important day. Depending upon
the action, we should be tipped off to whether this is just
a pullback, or something bigger. If it's something bigger,
then there is still a chance it could mean one more trip
down to the 600's on the SP500 cash and futures.
On Friday, look for early weakness to reverse to set up a
trade on the long side. The first good support, which should
be key to for the bigger picture, is down at the 773.25-
772.50 zone. If the ES drops to the key 773.25-772.50 zone
and reverses, that should set up a decent bounce. If that
plays out, then a better opportunity would be shorting the
first decent bounce as soon as it fizzles. As long as the
789.25-790.00 area on the ES and 1212.00-1212.75 area on the
NQ are not broken, and held on a pullback, the trends will
remain to the downside. IF those areas are both cleared, and
the market doesn't quickly reverse, then a run towards the
800 area one more time is possible. If that happens, don't
expect it to hold. If I'm wrong, and that 803-805 area on
the SP500 cash is broken, then we could rally towards
818.50-820.50 and possibly 837.00-838.50 on the SP500 cash.
Don't hold your breath.
**NOTE: The NCAA Tourney will interrupt any updates in
the afternoon on Friday. If I'm in my office and see
something good setting up, I'll try to alert you in the
chat room... just no promises.
June 2009 SP futures resistance
symbols: emini = esm9 / big contract =spm9
785.00
789.25-790.00
793.75-794.00
800.50-801.25
June 2009 SP futures support
symbols: emini = esm9 / big contract =spm9
777.50-777.00
773.25-772.50
769.25-769.00
762.00-761.75
June 2009 Nasdaq futures resistance
symbols: emini = nqm9 / big contract = ndm9
1207.00
1212.00-1212.75
1215.75-1216.50
1222.50-1224.00
June 2009 Nasdaq futures support
symbols: emini = nqm9 / big contract = ndm9
1199.00-1198.50
1191.75-1191.00
1187.50-1186.75
1180.00-1179.00
June 2009 Dow futures resistance
symbols: emini = ymm9
7438
7461-7464
7498-7502
7572-7576
June 2009 Dow futures support
symbols: emini = ymm9
7371-7367
7337-7334
7283-7278
7262-7258
---------------------------
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) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
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
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
R.B.I. Trader's Update
3 / 19 / 2009
(Published Since 1996)
...............................................
Dateline: 6:20 pm eastern time, 3/19/2009
In last night's update I wrote a lot of reasons why the 803-
805 area on the SP500 cash could be a top, finishing by
saying:
"So, there is reason for the areas around the Wednesday
highs to cause problems, and potentially be a bigger
picture reversal zone."
Then, the market then gave us a gift on Thursday morning. We
wanted to short early strength, and the ES popped up to
801.00 while the SP500 cash made an 803.24 high on the open,
and the market headed straight down. The ES dropped to 16.75
points to 784.25 before bouncing. The move fizzled and
reversed from 793.75 on the ES, and then it dropped 15.75
points to 778.00 and bounced again. The move didn't stick,
and the from 789.25 bounce high, the ES dropped 12.00 points
to make its low with 5 minutes left in stock trading.
The rejection from the key resistance was more than just a
pullback it appears. The Vix reversal gave 3 more sell
signals at Thursday's close. The extreme overbought readings
still need a bit of time to work off that off, so the weight
of the evidence says there should be more on the downside
coming. It should be a very important day. Depending upon
the action, we should be tipped off to whether this is just
a pullback, or something bigger. If it's something bigger,
then there is still a chance it could mean one more trip
down to the 600's on the SP500 cash and futures.
On Friday, look for early weakness to reverse to set up a
trade on the long side. The first good support, which should
be key to for the bigger picture, is down at the 773.25-
772.50 zone. If the ES drops to the key 773.25-772.50 zone
and reverses, that should set up a decent bounce. If that
plays out, then a better opportunity would be shorting the
first decent bounce as soon as it fizzles. As long as the
789.25-790.00 area on the ES and 1212.00-1212.75 area on the
NQ are not broken, and held on a pullback, the trends will
remain to the downside. IF those areas are both cleared, and
the market doesn't quickly reverse, then a run towards the
800 area one more time is possible. If that happens, don't
expect it to hold. If I'm wrong, and that 803-805 area on
the SP500 cash is broken, then we could rally towards
818.50-820.50 and possibly 837.00-838.50 on the SP500 cash.
Don't hold your breath.
**NOTE: The NCAA Tourney will interrupt any updates in
the afternoon on Friday. If I'm in my office and see
something good setting up, I'll try to alert you in the
chat room... just no promises.
June 2009 SP futures resistance
symbols: emini = esm9 / big contract =spm9
785.00
789.25-790.00
793.75-794.00
800.50-801.25
June 2009 SP futures support
symbols: emini = esm9 / big contract =spm9
777.50-777.00
773.25-772.50
769.25-769.00
762.00-761.75
June 2009 Nasdaq futures resistance
symbols: emini = nqm9 / big contract = ndm9
1207.00
1212.00-1212.75
1215.75-1216.50
1222.50-1224.00
June 2009 Nasdaq futures support
symbols: emini = nqm9 / big contract = ndm9
1199.00-1198.50
1191.75-1191.00
1187.50-1186.75
1180.00-1179.00
June 2009 Dow futures resistance
symbols: emini = ymm9
7438
7461-7464
7498-7502
7572-7576
June 2009 Dow futures support
symbols: emini = ymm9
7371-7367
7337-7334
7283-7278
7262-7258
---------------------------
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) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
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
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 03/18/09
.................................................
TradeStalker's
R.B.I. Trader's Update
3 / 18 / 2009
(Published Since 1996)
...............................................
Dateline: 6:29 pm eastern time, 3/18/2009
The market opened lower on Wednesday, but after about an
hour of downside the ES turned up from 761.75 and put
together a pre Fed release rally. The updated support held,
but the ES had a bit of trouble at 777.50 before the release
and backed off 4.50 points to updated support at 773.00.
After the release, the ES shot up to 800.50 before fizzling
and pulling back. The drop held just over 780 on the ES and
then bounced back into the close.
The SP500 is up against pretty key resistance around the
Wednesday high. The Wednesday high on the SP500 cash was at
803..04, and that's not far from where the market broke down
to make the recent low at 666.79. The 804.30 level is the
bottom of the old 4-week trading range that was broken to
the downside on February 17th. Also the 50% retracement from
the January 6th high at 943.85 to March 6th low at 666.79 is
at 805.32. Finally, the 3 previous rallies were about 20%
moves, and 801 met that mark on Wednesday. So, there is
reason for the areas around the Wednesday highs to cause
problems, and potentially be a bigger picture reversal zone.
On Thursday look for early strength to set up a good
shorting opportunity, especially if there is another
reversal near the 803-805 area on the SP500 cash. If that
occurs, then the 780.50-780.00 area needs to hold on a
pullback. If that area doesn't hold, then the 773.25-772.75
zone would be key support. A reversal from that area would
set up a buying opportunity. If the ES drops that far, and
cannot get turned around, then the bigger picture trends
could be rolling over again.
**NOTE: The NCAA Tourney begins tomorrow, and things
can thin out. Don't expect afternoon updates on Thursday
and Friday afternoon as I take a short break. Boiler-up!
June 2009 SP futures resistance
symbols: emini = esm9 / big contract =spm9
796.00-796.75
802.50-804.25
807.50-808.00
811.25-812.00
June 2009 SP futures support
symbols: emini = esm9 / big contract =spm9
780.50-780.00
773.25-772.75
769.25-769.00
762.00-761.75
June 2009 Nasdaq futures resistance
symbols: emini = nqm9 / big contract = ndm9
1217.50-1218.50
1226.50-1227.50
1232.00-1232.75
June 2009 Nasdaq futures support
symbols: emini = nqm9 / big contract = ndm9
1196.00-1195.00
1191.75-1191.00
1187.50-1186.75
1180.00-1179.00
June 2009 Dow futures resistance
symbols: emini = ymm9
7532-7540
7598-7603
7634-7639
June 2009 Dow futures support
symbols: emini = ymm9
7407-7402
7337-7334
7283-7278
7262-7258
---------------------------
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) 2009 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
R.B.I. Trader's Update
3 / 18 / 2009
(Published Since 1996)
...............................................
Dateline: 6:29 pm eastern time, 3/18/2009
The market opened lower on Wednesday, but after about an
hour of downside the ES turned up from 761.75 and put
together a pre Fed release rally. The updated support held,
but the ES had a bit of trouble at 777.50 before the release
and backed off 4.50 points to updated support at 773.00.
After the release, the ES shot up to 800.50 before fizzling
and pulling back. The drop held just over 780 on the ES and
then bounced back into the close.
The SP500 is up against pretty key resistance around the
Wednesday high. The Wednesday high on the SP500 cash was at
803..04, and that's not far from where the market broke down
to make the recent low at 666.79. The 804.30 level is the
bottom of the old 4-week trading range that was broken to
the downside on February 17th. Also the 50% retracement from
the January 6th high at 943.85 to March 6th low at 666.79 is
at 805.32. Finally, the 3 previous rallies were about 20%
moves, and 801 met that mark on Wednesday. So, there is
reason for the areas around the Wednesday highs to cause
problems, and potentially be a bigger picture reversal zone.
On Thursday look for early strength to set up a good
shorting opportunity, especially if there is another
reversal near the 803-805 area on the SP500 cash. If that
occurs, then the 780.50-780.00 area needs to hold on a
pullback. If that area doesn't hold, then the 773.25-772.75
zone would be key support. A reversal from that area would
set up a buying opportunity. If the ES drops that far, and
cannot get turned around, then the bigger picture trends
could be rolling over again.
**NOTE: The NCAA Tourney begins tomorrow, and things
can thin out. Don't expect afternoon updates on Thursday
and Friday afternoon as I take a short break. Boiler-up!
June 2009 SP futures resistance
symbols: emini = esm9 / big contract =spm9
796.00-796.75
802.50-804.25
807.50-808.00
811.25-812.00
June 2009 SP futures support
symbols: emini = esm9 / big contract =spm9
780.50-780.00
773.25-772.75
769.25-769.00
762.00-761.75
June 2009 Nasdaq futures resistance
symbols: emini = nqm9 / big contract = ndm9
1217.50-1218.50
1226.50-1227.50
1232.00-1232.75
June 2009 Nasdaq futures support
symbols: emini = nqm9 / big contract = ndm9
1196.00-1195.00
1191.75-1191.00
1187.50-1186.75
1180.00-1179.00
June 2009 Dow futures resistance
symbols: emini = ymm9
7532-7540
7598-7603
7634-7639
June 2009 Dow futures support
symbols: emini = ymm9
7407-7402
7337-7334
7283-7278
7262-7258
---------------------------
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) 2009 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 03/17/09
.................................................
TradeStalker's
R.B.I. Trader's Update
3 / 17 / 2009
(Published Since 1996)
...............................................
Dateline: 5:58 pm eastern time, 3/17/2009
A flat open was sold on Tuesday and the ES dropped to the
747.25-746.75 zone. A token break of that zone lasted a
mille-second, and from 746.00 the ES reversed and rallied to
the 757.50-758.00 zone. That was a heads-up for a reversal,
and the ES dropped from 758.25 to 751.50 in a slow grind
lower. A reversal from that level started a rally to new
highs for the day. The ES reached 766.75 and the move
finally fizzled and reversed. The ES dropped to 758.50, old
resistance, and made a reversal pattern back to the upside.
That lead to a run to 769.75 before reversing course. Buyers
came back in with 30 minutes left, and from a 764.25
pullback low the ES ran up and took out the Monday high on
the way to a 777.00 high at the close.
We get the CPI before the open on Wednesday, and then the
Fed decision on interest rate policy at 2pm eastern time.
The market acted very well on Tuesday, and the path of least
resistance is to the upside at the moment. As long as a
pullback can hold the 758.75-758.00 area on the ES, it's
just that, a pullback in a good uptrend or trading range. If
that area is broken, and not quickly reversed, then the
market is back in trouble on a bigger timeframe.
On Wednesday, look for early strength to be sold as soon as
the upside stalls/reverses. If that plays out, then the
first decent pullback should set up a buying opportunity.
Thereafter, if there is a trending move into the Fed
release, then odds favor a reversal. In any case, after the
release there tends to be a quick back and forth movement,
then a trend should develop. If that occurs, the trend
should last into the last 30 minutes or so.
June 2009 SP futures resistance
symbols: emini = esm9 / big contract =spm9
777.00
779.00-779.50 *major*
785.50-786.00
792.00-792.50
797.50-798.50
802.50-804.25
June 2009 SP futures support
symbols: emini = esm9 / big contract =spm9
770.50-769.75
764.50-764.25
758.75-758.00
747.00-746.00
June 2009 Nasdaq futures resistance
symbols: emini = nqm9 / big contract = ndm9
1191.50
1194.75-1195.50
1204.50-1205.50
1211.25-1212.50
June 2009 Nasdaq futures support
symbols: emini = nqm9 / big contract = ndm9
1184.75-1184.75
1176.50-1175.75
1163.50-1162.75
1149.00-1147.50
June 2009 Dow futures resistance
symbols: emini = ymm9
7415
7436-7441
7488-7494
7562-7567
June 2009 Dow futures support
symbols: emini = ymm9
7369-7361
7316-7312
7271-7267
7176-7173
---------------------------
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) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
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
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
R.B.I. Trader's Update
3 / 17 / 2009
(Published Since 1996)
...............................................
Dateline: 5:58 pm eastern time, 3/17/2009
A flat open was sold on Tuesday and the ES dropped to the
747.25-746.75 zone. A token break of that zone lasted a
mille-second, and from 746.00 the ES reversed and rallied to
the 757.50-758.00 zone. That was a heads-up for a reversal,
and the ES dropped from 758.25 to 751.50 in a slow grind
lower. A reversal from that level started a rally to new
highs for the day. The ES reached 766.75 and the move
finally fizzled and reversed. The ES dropped to 758.50, old
resistance, and made a reversal pattern back to the upside.
That lead to a run to 769.75 before reversing course. Buyers
came back in with 30 minutes left, and from a 764.25
pullback low the ES ran up and took out the Monday high on
the way to a 777.00 high at the close.
We get the CPI before the open on Wednesday, and then the
Fed decision on interest rate policy at 2pm eastern time.
The market acted very well on Tuesday, and the path of least
resistance is to the upside at the moment. As long as a
pullback can hold the 758.75-758.00 area on the ES, it's
just that, a pullback in a good uptrend or trading range. If
that area is broken, and not quickly reversed, then the
market is back in trouble on a bigger timeframe.
On Wednesday, look for early strength to be sold as soon as
the upside stalls/reverses. If that plays out, then the
first decent pullback should set up a buying opportunity.
Thereafter, if there is a trending move into the Fed
release, then odds favor a reversal. In any case, after the
release there tends to be a quick back and forth movement,
then a trend should develop. If that occurs, the trend
should last into the last 30 minutes or so.
June 2009 SP futures resistance
symbols: emini = esm9 / big contract =spm9
777.00
779.00-779.50 *major*
785.50-786.00
792.00-792.50
797.50-798.50
802.50-804.25
June 2009 SP futures support
symbols: emini = esm9 / big contract =spm9
770.50-769.75
764.50-764.25
758.75-758.00
747.00-746.00
June 2009 Nasdaq futures resistance
symbols: emini = nqm9 / big contract = ndm9
1191.50
1194.75-1195.50
1204.50-1205.50
1211.25-1212.50
June 2009 Nasdaq futures support
symbols: emini = nqm9 / big contract = ndm9
1184.75-1184.75
1176.50-1175.75
1163.50-1162.75
1149.00-1147.50
June 2009 Dow futures resistance
symbols: emini = ymm9
7415
7436-7441
7488-7494
7562-7567
June 2009 Dow futures support
symbols: emini = ymm9
7369-7361
7316-7312
7271-7267
7176-7173
---------------------------
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) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
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
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 03/16/09
.................................................
TradeStalker's
R.B.I. Trader's Update
3 / 16 / 2009
(Published Since 1996)
...............................................
Dateline: 6:33 pm eastern time, 3/16/2009
Early strength was sold on Monday, and the ES pulled back
from 764.00 to 757.25 before reversing. The rally took the
ES to the strong resistance at the 771.50-772.50 area by
1pm, and from 771.50 the ES fell back to the 20ema on the 5
minute chart for the 4th time and turned back up. The bounce
reached 771.50 again and reversed, and with a double top at
resistance in place, the market changed course. After
dropping to the 763.00-762.50 updated support, a bounce
stopped 1 tick under the updated 767.00 resistance and the
selling picked up steam. The ES fell to test the 750.50-
750.00 support zone and then reversed after stocks closed.
The indicators are still a bit overbought, and the reversal
from a strong resistance area is telling. That 771.50-772.00
zone will likely be a tough area to get through, still, and
must be exceeded for the bulls to get more out of this
rally. As it looks now, the ES is going to go into a trading
range, or else head back towards the 739.50-739.00 area on
this leg down. If that selloff turns out to be the case, and
that 739 level isn't held, then a trip back towards the
717.50-717.50 area may be in the cards.
On Tuesday, if there is follow through weakness, a reversal
in the first 20-40 minutes should set up a trade on the long
side. If that plays out, beware that the first decent bounce
will likely be sold as soon as the upside fizzles. The ES
must get over the 762.50-763.00 area and not reverse in
order to get to neutral territory. Unless that occurs, the
bounces that stall and roll over should set up the better
odds trades.
June 2009 SP futures resistance
symbols: emini = esm9 / big contract =spm9
757.50-758.00
762.50-763.00
766.50-767.00
771.50-772.50 *very strong*
779.00-779.50 *major*
802.50-804.25
June 2009 SP futures support
symbols: emini = esm9 / big contract =spm9
750.25-749.50
747.25-746.75 **pivotal**
739.50-739.00 **key**
735.00-734.50
June 2009 Nasdaq futures resistance
symbols: emini = nqm9 / big contract = ndm9
1155.25-1156.00
1158.75-1159.50
1163.25-1164.00
1172.75-1174.50
1182.75-1184.00
June 2009 Nasdaq futures support
symbols: emini = nqm9 / big contract = ndm9
1142.25-1140.50
1137.50-1136.75
1129.00-1127.75
1123.50-1122.75
June 2009 Dow futures resistance
symbols: emini = ymm9
7281-7287
7316-7321
7352-7357
7389-7393
7460-7464
June 2009 Dow futures support
symbols: emini = ymm9
7204-7198
7166-7163
7106-7102
7065-7061
---------------------------
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) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
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
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
R.B.I. Trader's Update
3 / 16 / 2009
(Published Since 1996)
...............................................
Dateline: 6:33 pm eastern time, 3/16/2009
Early strength was sold on Monday, and the ES pulled back
from 764.00 to 757.25 before reversing. The rally took the
ES to the strong resistance at the 771.50-772.50 area by
1pm, and from 771.50 the ES fell back to the 20ema on the 5
minute chart for the 4th time and turned back up. The bounce
reached 771.50 again and reversed, and with a double top at
resistance in place, the market changed course. After
dropping to the 763.00-762.50 updated support, a bounce
stopped 1 tick under the updated 767.00 resistance and the
selling picked up steam. The ES fell to test the 750.50-
750.00 support zone and then reversed after stocks closed.
The indicators are still a bit overbought, and the reversal
from a strong resistance area is telling. That 771.50-772.00
zone will likely be a tough area to get through, still, and
must be exceeded for the bulls to get more out of this
rally. As it looks now, the ES is going to go into a trading
range, or else head back towards the 739.50-739.00 area on
this leg down. If that selloff turns out to be the case, and
that 739 level isn't held, then a trip back towards the
717.50-717.50 area may be in the cards.
On Tuesday, if there is follow through weakness, a reversal
in the first 20-40 minutes should set up a trade on the long
side. If that plays out, beware that the first decent bounce
will likely be sold as soon as the upside fizzles. The ES
must get over the 762.50-763.00 area and not reverse in
order to get to neutral territory. Unless that occurs, the
bounces that stall and roll over should set up the better
odds trades.
June 2009 SP futures resistance
symbols: emini = esm9 / big contract =spm9
757.50-758.00
762.50-763.00
766.50-767.00
771.50-772.50 *very strong*
779.00-779.50 *major*
802.50-804.25
June 2009 SP futures support
symbols: emini = esm9 / big contract =spm9
750.25-749.50
747.25-746.75 **pivotal**
739.50-739.00 **key**
735.00-734.50
June 2009 Nasdaq futures resistance
symbols: emini = nqm9 / big contract = ndm9
1155.25-1156.00
1158.75-1159.50
1163.25-1164.00
1172.75-1174.50
1182.75-1184.00
June 2009 Nasdaq futures support
symbols: emini = nqm9 / big contract = ndm9
1142.25-1140.50
1137.50-1136.75
1129.00-1127.75
1123.50-1122.75
June 2009 Dow futures resistance
symbols: emini = ymm9
7281-7287
7316-7321
7352-7357
7389-7393
7460-7464
June 2009 Dow futures support
symbols: emini = ymm9
7204-7198
7166-7163
7106-7102
7065-7061
---------------------------
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) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
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
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.
*************************************************
Sunday, March 15, 2009
TradeStalker's RBI Update 03/15/09
.................................................
TradeStalker's
R.B.I. Trader's Update
3 / 15 / 2009
(Published Since 1996)
...............................................
Dateline: 4:23 pm eastern time, 3/15/2009
The market started last week with a gap down open and
weakness into Tuesday morning. Then the market turned up and
put together 4 straight days of across the board plus
closes, which was the first time that has happened in more
than a year. On Friday the market opened higher and reversed
about 20 minutes into the trading day. The selloff sent the
ES 16.50 points lower, but they held and turned up from
above the 735.00 support and the market rallied into the
closing bell.
The Monday and Tuesday action should be key for the bigger
picture. At the Friday close, my short term
overbought/oversold gauges are at across the board extremes
on the overbought side. In addition to that, the reversal by
the Vix gave 3 sell signals at the close. The market will
not be able to overcome this combination, unless a new bull
leg is in its infancy. The market had its best 4 days in a
row for more than a year, and rallied more than 10% so far.
Some profit taking would be expected under those conditions
in the majority of cases.
That said, the market needs to prove itself a bit weak
before the trends turn down. That would occur if the 750.50-
750.00 area on the ES, the 1161.25-1160.50 area on the NQ,
and the 7202-7197 area on the Dow cash are broken and not
quickly reversed. If that occurs, then the key support (even
more important if the 755 level on the ES isn't exceeded) is
at the 739.50-739.00 area on the ES. That was the Friday
low, and symmetry would be broken if that area does not
hold.
Look for early strength to set up a shorting opportunity if
the move fizzles and reverses in the early going. If that
plays out and the ES breaks the 750.50-750.00 area, then a
test of that 739.50-739.00 area is probably in the cards. If
it cannot hold, then a short term trading top would be in
place. If 750 holds, the uptrends continue and a run towards
the 761.50-762.00 area is possible before a reversal occurs.
June 2009 SP futures resistance
symbols: emini = esm9 / big contract =spm9
755.00-755.75
758.00
761.50-762.00 *key*
766.50-767.00
771.50-772.50 *very strong*
779.00-779.50 *major*
June 2009 SP futures support
symbols: emini = esm9 / big contract =spm9
750.50-750.00
747.25-746.75 **pivotal**
739.50-739.00 **key**
735.00-734.50
June 2009 Nasdaq futures resistance
symbols: emini = nqm9 / big contract = ndm9
1169.00-1170.00
1173.50
1178.50-1179.50
1183.00-1184.00
1192.00-1194.00 *very strong*
June 2009 Nasdaq futures support
symbols: emini = nqm9 / big contract = ndm9
1161.25-1160.50
1156.00-1155.25 **pivotal**
1149.00-1147.75 **key**
1140.50-1139.75
June 2009 Dow futures resistance
symbols: emini = ymm9
7239-7243
7264
7277-7281
7324-7329
7393-7402 *very strong*
June 2009 Dow futures support
symbols: emini = ymm9
7201-7198
7166-7163 **pivotal**
7106-7102 **key**
7065-7061
CLICK HERE for FREE Trading Articles and Videos!
---------------------------
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) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
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)
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
R.B.I. Trader's Update
3 / 15 / 2009
(Published Since 1996)
...............................................
Dateline: 4:23 pm eastern time, 3/15/2009
The market started last week with a gap down open and
weakness into Tuesday morning. Then the market turned up and
put together 4 straight days of across the board plus
closes, which was the first time that has happened in more
than a year. On Friday the market opened higher and reversed
about 20 minutes into the trading day. The selloff sent the
ES 16.50 points lower, but they held and turned up from
above the 735.00 support and the market rallied into the
closing bell.
The Monday and Tuesday action should be key for the bigger
picture. At the Friday close, my short term
overbought/oversold gauges are at across the board extremes
on the overbought side. In addition to that, the reversal by
the Vix gave 3 sell signals at the close. The market will
not be able to overcome this combination, unless a new bull
leg is in its infancy. The market had its best 4 days in a
row for more than a year, and rallied more than 10% so far.
Some profit taking would be expected under those conditions
in the majority of cases.
That said, the market needs to prove itself a bit weak
before the trends turn down. That would occur if the 750.50-
750.00 area on the ES, the 1161.25-1160.50 area on the NQ,
and the 7202-7197 area on the Dow cash are broken and not
quickly reversed. If that occurs, then the key support (even
more important if the 755 level on the ES isn't exceeded) is
at the 739.50-739.00 area on the ES. That was the Friday
low, and symmetry would be broken if that area does not
hold.
Look for early strength to set up a shorting opportunity if
the move fizzles and reverses in the early going. If that
plays out and the ES breaks the 750.50-750.00 area, then a
test of that 739.50-739.00 area is probably in the cards. If
it cannot hold, then a short term trading top would be in
place. If 750 holds, the uptrends continue and a run towards
the 761.50-762.00 area is possible before a reversal occurs.
June 2009 SP futures resistance
symbols: emini = esm9 / big contract =spm9
755.00-755.75
758.00
761.50-762.00 *key*
766.50-767.00
771.50-772.50 *very strong*
779.00-779.50 *major*
June 2009 SP futures support
symbols: emini = esm9 / big contract =spm9
750.50-750.00
747.25-746.75 **pivotal**
739.50-739.00 **key**
735.00-734.50
June 2009 Nasdaq futures resistance
symbols: emini = nqm9 / big contract = ndm9
1169.00-1170.00
1173.50
1178.50-1179.50
1183.00-1184.00
1192.00-1194.00 *very strong*
June 2009 Nasdaq futures support
symbols: emini = nqm9 / big contract = ndm9
1161.25-1160.50
1156.00-1155.25 **pivotal**
1149.00-1147.75 **key**
1140.50-1139.75
June 2009 Dow futures resistance
symbols: emini = ymm9
7239-7243
7264
7277-7281
7324-7329
7393-7402 *very strong*
June 2009 Dow futures support
symbols: emini = ymm9
7201-7198
7166-7163 **pivotal**
7106-7102 **key**
7065-7061
CLICK HERE for FREE Trading Articles and Videos!
---------------------------
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) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
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)
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 03/12/09
.................................................
TradeStalker's
R.B.I. Trader's Update
3 / 12 / 2009
(Published Since 1996)
...............................................
Dateline: 6:56 pm eastern time, 3/12/2009
Early weakness held and reversed from 710.75 on the ES on
Thursday, just 2 ticks above the 710.25-709.50 area, and
then reversed. The rally was strong as the ES moved up 21.25
points to 732.00, and then pulled back to 725.00 by 11am.
The market turned back up and rallied in trend-up fashion,
with the 20ema on the 5 minute chart holding on pullbacks.
The move lasted until the final minutes of trading, as the
ES touched 750.00 before settlement.
The first part of the up-down up pattern started the day
perfectly, as the ES tested the 710.25-709.50 support zone
and reversed. However, that was a larger rally than
expected. In any case, after 3 up days in a row, the short
term indicators are at extreme overbought readings. In this
bear market, these readings have been seen at nearly every
counter-trend top, and then the market then starts another
wicked streak of hard down days. In addition, the Vix gave a
2nd sell signal on Thursday, stretching more than 10% under
its 10 day average and at a level last seen on February
13th.
The way the market is acting, it is hard to fight this trend
at the moment. A decent sized selloff that can get footing
and turn back up should set up a decent trade on the long
side. Until that pullback occurs, the risk/reward at this
point does not favor the bulls. So, if there is early
strength and it fizzles/reverses in the first 40 minutes of
trading on Friday, it should set up a good shorting
opportunity. This will especially be the case if the ES pops
up towards 752 and reverses. If that plays out, and the ES
can hold the 735.00-734.50 area on a pullback, then it
should set up a trade on the long side. However, if that
area is broken, and not quickly reversed, then the market
will be back in trouble again.
June 2009 SP futures resistance
symbols: emini = esm9 / big contract =spm9
750.00
752.00-752.50
757.50-758.00
761.50-762.00
779.00-779.50 **major**
June 2009 SP futures support
symbols: emini = esm9 / big contract =spm9
745.00-744.75
741.00-740.25
735.00-734.50 **trend support**
730.50
725.50-725.00 **strong*
717.50-717.00 **major**
710.75-710.00
June 2009 Nasdaq futures resistance
symbols: emini = nqm9 / big contract = ndm9
1167.00
1171.50-1172.00
1178.50-1179.50
1183.25-1184.00
June 2009 Nasdaq futures support
symbols: emini = nqm9 / big contract = ndm9
1161.00-1160.00
1154.00-1153.50
1146.50-1145.75
1139.75
1133.25-1132.50
1124.00-1122.75
1112.25-1111.50
June 2009 Dow futures resistance
symbols: emini = ymm9
7183
7201-7206
7260-7264
7277-7281
June 2009 Dow futures support
symbols: emini = ymm9
7121-7118
7109-7104
7065-7061
7025
6992-6988
6922-6919
6870-6864
CLICK HERE for FREE Trading Articles and Videos!
---------------------------
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) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
www.TradeStalker.com
PO Box 9783, Ft Wayne, IN, 46899
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)
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
R.B.I. Trader's Update
3 / 12 / 2009
(Published Since 1996)
...............................................
Dateline: 6:56 pm eastern time, 3/12/2009
Early weakness held and reversed from 710.75 on the ES on
Thursday, just 2 ticks above the 710.25-709.50 area, and
then reversed. The rally was strong as the ES moved up 21.25
points to 732.00, and then pulled back to 725.00 by 11am.
The market turned back up and rallied in trend-up fashion,
with the 20ema on the 5 minute chart holding on pullbacks.
The move lasted until the final minutes of trading, as the
ES touched 750.00 before settlement.
The first part of the up-down up pattern started the day
perfectly, as the ES tested the 710.25-709.50 support zone
and reversed. However, that was a larger rally than
expected. In any case, after 3 up days in a row, the short
term indicators are at extreme overbought readings. In this
bear market, these readings have been seen at nearly every
counter-trend top, and then the market then starts another
wicked streak of hard down days. In addition, the Vix gave a
2nd sell signal on Thursday, stretching more than 10% under
its 10 day average and at a level last seen on February
13th.
The way the market is acting, it is hard to fight this trend
at the moment. A decent sized selloff that can get footing
and turn back up should set up a decent trade on the long
side. Until that pullback occurs, the risk/reward at this
point does not favor the bulls. So, if there is early
strength and it fizzles/reverses in the first 40 minutes of
trading on Friday, it should set up a good shorting
opportunity. This will especially be the case if the ES pops
up towards 752 and reverses. If that plays out, and the ES
can hold the 735.00-734.50 area on a pullback, then it
should set up a trade on the long side. However, if that
area is broken, and not quickly reversed, then the market
will be back in trouble again.
June 2009 SP futures resistance
symbols: emini = esm9 / big contract =spm9
750.00
752.00-752.50
757.50-758.00
761.50-762.00
779.00-779.50 **major**
June 2009 SP futures support
symbols: emini = esm9 / big contract =spm9
745.00-744.75
741.00-740.25
735.00-734.50 **trend support**
730.50
725.50-725.00 **strong*
717.50-717.00 **major**
710.75-710.00
June 2009 Nasdaq futures resistance
symbols: emini = nqm9 / big contract = ndm9
1167.00
1171.50-1172.00
1178.50-1179.50
1183.25-1184.00
June 2009 Nasdaq futures support
symbols: emini = nqm9 / big contract = ndm9
1161.00-1160.00
1154.00-1153.50
1146.50-1145.75
1139.75
1133.25-1132.50
1124.00-1122.75
1112.25-1111.50
June 2009 Dow futures resistance
symbols: emini = ymm9
7183
7201-7206
7260-7264
7277-7281
June 2009 Dow futures support
symbols: emini = ymm9
7121-7118
7109-7104
7065-7061
7025
6992-6988
6922-6919
6870-6864
CLICK HERE for FREE Trading Articles and Videos!
---------------------------
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) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
www.TradeStalker.com
PO Box 9783, Ft Wayne, IN, 46899
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)
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 03/11/09
.................................................
TradeStalker's
R.B.I. Trader's Update
3 / 11 / 2009
(Published Since 1996)
...............................................
Dateline: 6:46 pm eastern time, 3/11/2009
The market popped up higher on Wednesday and the ES sprinted
to the 732.50-734.00 resistance zone and the move fizzled
and reversed. A drop to the updated 718-717 zone was
reversed and the ES popped up to 723.25 twice. That was
under the updated 725.50 level and the ES dropped 10 points
to 713.25 and then turned back up. A run up to 728.00 didn't
stick and with the RBI Oscillator in sell mode, the ES
dropped 8.50 points into the close.
First off, on Thursday the futures roll over to the June
contracts. The new root symbol is M. For example, the symbol
for the June ES is now ES M9.
The market gave us the two-sided action that was the best
case for the bulls on Wednesday. The rejection of the
732.50-734.00 resistance zone and subsequent drop did little
to scare the call buyers, as the sentiment is getting overly
bullish. The Vix gave 1 sell signal as it dropped to a spot
seen on 2/13 and 2/26, both preceded large drops.
On Thursday we get the Retail Sales before the open and that
might set the early tone for the market. If we are going to
get the up-down-up type of move to another short term top,
then it needs to occur soon. If there is a decent sized drop
and the market can then get turned around and rally nicely
towards the Wednesday highs (or exceeds them), then a
reversal would start a good sized drop. If we get that type
of pattern on Thursday, it should set up a good shorting
opportunity for a pullback, and likely another sharp
pullback.
So, look for a decent rally to fizzle out and/or reverse for
a good shorting opportunity on Thursday. On the other side
of the coin, if there is early weakness that can hold and
reverse from above the 710.25-709.50 area on the JUNE ES
futures, then one more good rally could occur before the
market gets turned back and sells off pretty hard. If this
occurs, don't get married to any longs at this juncture as
the reward/risk favors the short side at the moment. If that
710.25-709.50 area doesn't hold, then a test of the 699.50-
699.00 area on the ES is likely on this leg down.
June 2009 SP futures resistance
symbols: emini = esm9 / big contract =spm9
724.50-725.00
729.50-731.00
735.00
738.50-739.00
June 2009 SP futures support
symbols: emini = esm9 / big contract =spm9
710.25-709.50
704.00-703.50
699.50-699.00
696.50-695.75
689.50-688.50 **major**
June 2009 Nasdaq futures resistance
symbols: emini = nqm9 / big contract = ndm9
1135.00-1135.75
1139.75-1040.75
1143.75
1149.50-1150.25
June 2009 Nasdaq futures support
symbols: emini = nqm9 / big contract = ndm9
1114.25-1113.50
1106.00-1105.50
1096.00-1095.50
1087.50-1086.50
June 2009 Dow futures resistance
symbols: emini = ymm9
6929-6954
6959-6965
7004
7031-7036
June 2009 Dow futures support
symbols: emini = ymm9
6870-6864
6806-6803
6738-6734
6712-6708
---------------------------
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) 2009 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
R.B.I. Trader's Update
3 / 11 / 2009
(Published Since 1996)
...............................................
Dateline: 6:46 pm eastern time, 3/11/2009
The market popped up higher on Wednesday and the ES sprinted
to the 732.50-734.00 resistance zone and the move fizzled
and reversed. A drop to the updated 718-717 zone was
reversed and the ES popped up to 723.25 twice. That was
under the updated 725.50 level and the ES dropped 10 points
to 713.25 and then turned back up. A run up to 728.00 didn't
stick and with the RBI Oscillator in sell mode, the ES
dropped 8.50 points into the close.
First off, on Thursday the futures roll over to the June
contracts. The new root symbol is M. For example, the symbol
for the June ES is now ES M9.
The market gave us the two-sided action that was the best
case for the bulls on Wednesday. The rejection of the
732.50-734.00 resistance zone and subsequent drop did little
to scare the call buyers, as the sentiment is getting overly
bullish. The Vix gave 1 sell signal as it dropped to a spot
seen on 2/13 and 2/26, both preceded large drops.
On Thursday we get the Retail Sales before the open and that
might set the early tone for the market. If we are going to
get the up-down-up type of move to another short term top,
then it needs to occur soon. If there is a decent sized drop
and the market can then get turned around and rally nicely
towards the Wednesday highs (or exceeds them), then a
reversal would start a good sized drop. If we get that type
of pattern on Thursday, it should set up a good shorting
opportunity for a pullback, and likely another sharp
pullback.
So, look for a decent rally to fizzle out and/or reverse for
a good shorting opportunity on Thursday. On the other side
of the coin, if there is early weakness that can hold and
reverse from above the 710.25-709.50 area on the JUNE ES
futures, then one more good rally could occur before the
market gets turned back and sells off pretty hard. If this
occurs, don't get married to any longs at this juncture as
the reward/risk favors the short side at the moment. If that
710.25-709.50 area doesn't hold, then a test of the 699.50-
699.00 area on the ES is likely on this leg down.
June 2009 SP futures resistance
symbols: emini = esm9 / big contract =spm9
724.50-725.00
729.50-731.00
735.00
738.50-739.00
June 2009 SP futures support
symbols: emini = esm9 / big contract =spm9
710.25-709.50
704.00-703.50
699.50-699.00
696.50-695.75
689.50-688.50 **major**
June 2009 Nasdaq futures resistance
symbols: emini = nqm9 / big contract = ndm9
1135.00-1135.75
1139.75-1040.75
1143.75
1149.50-1150.25
June 2009 Nasdaq futures support
symbols: emini = nqm9 / big contract = ndm9
1114.25-1113.50
1106.00-1105.50
1096.00-1095.50
1087.50-1086.50
June 2009 Dow futures resistance
symbols: emini = ymm9
6929-6954
6959-6965
7004
7031-7036
June 2009 Dow futures support
symbols: emini = ymm9
6870-6864
6806-6803
6738-6734
6712-6708
---------------------------
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) 2009 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.
*************************************************
Tuesday, March 10, 2009
TradeStalker's RBI Update 03/10/09
.................................................
TradeStalker's
R.B.I. Trader's Update
3 / 10 / 2009
(Published Since 1996)
...............................................
Dateline: 6:16 pm eastern time, 3/10/2009
The ES opened up 14 points on Tuesday and kept going in a
steady buying frenzy until reaching 716.25 shortly before
2pm. A pullback held the updated support at the 707-706
area, and then ran up to the 717.25-717.50 zone with 30
minutes left in stock trading.. A 4.25 point dip to 713.00
was bought and the ES ran up to 721.75 after stocks closed.
That sprint was rejected and the ES reversed 6.25 fast and
settled a couple points under fair value.
That was a very nice oversold rally on Tuesday, but it might
have a short shelf-life. My RBI Oscillator is in sell
territory, and other short term gauges are out of oversold
territory. The sentiment is now extremely bullish, and that
normally isn't good. So, the market should have difficulty
holding gains at best on Wednesday. If this continues to
play out as expected, a decent pullback on Wednesday should
set up a rally that takes out Tuesday's highs, and then we
can get one last drop to test/break the lows. If we get
that, and reverse, that would set up a rally that will
stick.
After a trend up day, a back-and-forth type of day is
possible. However, the easiest trade of the day would be a
higher open near 720 on the ES. If that occurs, it is a gift
on the short side. If that plays out, then the first decent
pullback needs to hold the 707.00-706.50 area on the ES, or
the downside pressure could be on once again.
March 2009 SP futures resistance
symbols: emini = esh9 / big contract =sph9
721.00-721.75
724.00-724.50
728.50-729.00
732.50-734.00
March 2009 SP futures support
symbols: emini = esh9 / big contract =sph9
707.00-706.50
702.00-702.00
699.50-698.75
692.00-691.50 ** must hold**
March 2009 Nasdaq futures resistance
symbols: emini = nqh9 / big contract = ndh9
1111.50-1112.50
1115.50-1116.50
1124.50-1125.00
1129.75-1130.50
March 2009 Nasdaq futures support
symbols: emini = nqh9 / big contract = ndh9
1096.00-1095.50
1087.50-1086.50
1082.50-1081.50
1074.00-1072.50
March 2009 Dow futures resistance
symbols: emini = ymh9
6924-6928
6952-6957
6992-6997
7037-7042
March 2009 Dow futures support
symbols: emini = ymh9
6806-6803
6738-6734
6712-6708
6638-6632
FREE TRADING EDUCATIONAL ARTICLES/VIDEOS
CLICK HERE
---------------------------
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
and for faster updates and additional commentary here:
http://www.tradestalker.com/RBIchat.htm
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
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)
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
R.B.I. Trader's Update
3 / 10 / 2009
(Published Since 1996)
...............................................
Dateline: 6:16 pm eastern time, 3/10/2009
The ES opened up 14 points on Tuesday and kept going in a
steady buying frenzy until reaching 716.25 shortly before
2pm. A pullback held the updated support at the 707-706
area, and then ran up to the 717.25-717.50 zone with 30
minutes left in stock trading.. A 4.25 point dip to 713.00
was bought and the ES ran up to 721.75 after stocks closed.
That sprint was rejected and the ES reversed 6.25 fast and
settled a couple points under fair value.
That was a very nice oversold rally on Tuesday, but it might
have a short shelf-life. My RBI Oscillator is in sell
territory, and other short term gauges are out of oversold
territory. The sentiment is now extremely bullish, and that
normally isn't good. So, the market should have difficulty
holding gains at best on Wednesday. If this continues to
play out as expected, a decent pullback on Wednesday should
set up a rally that takes out Tuesday's highs, and then we
can get one last drop to test/break the lows. If we get
that, and reverse, that would set up a rally that will
stick.
After a trend up day, a back-and-forth type of day is
possible. However, the easiest trade of the day would be a
higher open near 720 on the ES. If that occurs, it is a gift
on the short side. If that plays out, then the first decent
pullback needs to hold the 707.00-706.50 area on the ES, or
the downside pressure could be on once again.
March 2009 SP futures resistance
symbols: emini = esh9 / big contract =sph9
721.00-721.75
724.00-724.50
728.50-729.00
732.50-734.00
March 2009 SP futures support
symbols: emini = esh9 / big contract =sph9
707.00-706.50
702.00-702.00
699.50-698.75
692.00-691.50 ** must hold**
March 2009 Nasdaq futures resistance
symbols: emini = nqh9 / big contract = ndh9
1111.50-1112.50
1115.50-1116.50
1124.50-1125.00
1129.75-1130.50
March 2009 Nasdaq futures support
symbols: emini = nqh9 / big contract = ndh9
1096.00-1095.50
1087.50-1086.50
1082.50-1081.50
1074.00-1072.50
March 2009 Dow futures resistance
symbols: emini = ymh9
6924-6928
6952-6957
6992-6997
7037-7042
March 2009 Dow futures support
symbols: emini = ymh9
6806-6803
6738-6734
6712-6708
6638-6632
FREE TRADING EDUCATIONAL ARTICLES/VIDEOS
CLICK HERE
---------------------------
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
and for faster updates and additional commentary here:
http://www.tradestalker.com/RBIchat.htm
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
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)
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.
*************************************************
Same Trading Strategy - Different Markets!
Emini Futures is what I like to trade best. However, the
trading strategy that I've developed over the past 26 years,
and use everyday in my own trading, will also work in other
markets as well. For instance, the German DAX, the British
Pound Futures, and Mini Light Sweet Crude Oil.
So, whether you trade the eminis exclusively, or the other
markets I've mentioned above, check out the charts found on
the link below to see how my trading strategy works in other
markets:
CLICK HERE
Good Trading,
Mike Reed
TradeStalker.com
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)
trading strategy that I've developed over the past 26 years,
and use everyday in my own trading, will also work in other
markets as well. For instance, the German DAX, the British
Pound Futures, and Mini Light Sweet Crude Oil.
So, whether you trade the eminis exclusively, or the other
markets I've mentioned above, check out the charts found on
the link below to see how my trading strategy works in other
markets:
CLICK HERE
Good Trading,
Mike Reed
TradeStalker.com
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)
Monday, March 09, 2009
TradeStalker's RBI Update 03/09/09
.................................................
TradeStalker's
R.B.I. Trader's Update
3 / 9 / 2009
(Published Since 1996)
...............................................
Dateline: 6:37 pm eastern time, 3/9/2009
The market opened lower on Monday, and the ES reversed from
the 675.00-674.50 KEY support and put together a decent
rally. However, the move fizzled and reversed from just 1
tick over the 694.00-694.50 resistance zone and a grind
lower was underway. After falling to 680.75, updated
resistance was given at 690.00. The ES reached 689.25 and
then dropped to 676.00 by 1pm. The 684 level was updated
resistance, and a ragged bounce reversed from 684.25. The ES
fell back to test the 676.00 level again, and the third time
down there was bought again. The ES was able to bounce back
to 682.25 but the move couldn't gain traction and the ES
rolled over and finally broke that support. After reaching
672.00 the market bounced back and churned into the close.
The averages all made new closing lows for this bear market
on Monday. It "feels" like there are eager buyers ready for
a good reason to buy stocks, but the bids get pulled as soon
as a hint of trouble appears. Oddly, the closing Trin on
Monday was a rather small .48. That's not what bulls want to
see for a good bottom to be put in place. Also, the
sentiment is way too bullish. The Vix is stuck around 50,
and hasn't spiked like it tends to do at good lows. Also,
the ISE call/put ratio reached 220 at Monday's close,
meaning for every 100 puts that transacted, there were 220
calls that traded. It seems that the options traders think
the market has only upside potential from here.
Although the market is oversold, the trends and momentum are
still to the downside, the bounces that fizzle should still
offer the better opportunities. If this leg down plays out
the way a "wave 5" often does, the SP500 cash could still
reach 626.74 (+/- a couple points) before a low can be put
in place. We shall see. The market still can not get a
decent rally to stick, so until it does the door remains
open for lower prices.
On Tuesday look for early weakness to be bought, and then
the first rally attempt should set up a shorting opportunity
as soon as the upside stalls out and begins to reverse. If
that happens early, and a bounce fails to break and hold
over the 684.25 level on the ES, then the bears are still
firmly in charge. However, if the ES gets over 684 and the
NQ gets over 1057.00, and the move isn't rejected, then a
run up to test/break the Monday highs could be in the cards
before another reversal occurs.
March 2009 SP futures resistance
symbols: emini = esh9 / big contract =sph9
677.50-678.00
683.50-684.25
688.50-689.25
694.25-694.75
699.75-700.25 **key**
March 2009 SP futures support
symbols: emini = esh9 / big contract =sph9
672.50-672.00
666.50-665.50
662.00-661.50
air-pocket possible
March 2009 Nasdaq futures resistance
symbols: emini = nqh9 / big contract = ndh9
1048.50-1049.25
1056.50-1057.25
1065.50-1066.75
1077.00-1077.75
1089.50-1090.50
March 2009 Nasdaq futures support
symbols: emini = nqh9 / big contract = ndh9
1041.00-1040.25
1035.00-1034.50
1028.75-1027.50
March 2009 Dow futures resistance
symbols: emini = ymh9
6558-6562
6608-6612
6650-6654
6693-6699
6738-6746
March 2009 Dow futures support
symbols: emini = ymh9
6512-6508
6464-6460
6419-6415
FREE Educational Trading Articles:
CLICK HERE to visit our site!
---------------------------
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
and for faster updates and additional commentary here:
http://www.tradestalker.com/RBIchat.htm
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
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)
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
R.B.I. Trader's Update
3 / 9 / 2009
(Published Since 1996)
...............................................
Dateline: 6:37 pm eastern time, 3/9/2009
The market opened lower on Monday, and the ES reversed from
the 675.00-674.50 KEY support and put together a decent
rally. However, the move fizzled and reversed from just 1
tick over the 694.00-694.50 resistance zone and a grind
lower was underway. After falling to 680.75, updated
resistance was given at 690.00. The ES reached 689.25 and
then dropped to 676.00 by 1pm. The 684 level was updated
resistance, and a ragged bounce reversed from 684.25. The ES
fell back to test the 676.00 level again, and the third time
down there was bought again. The ES was able to bounce back
to 682.25 but the move couldn't gain traction and the ES
rolled over and finally broke that support. After reaching
672.00 the market bounced back and churned into the close.
The averages all made new closing lows for this bear market
on Monday. It "feels" like there are eager buyers ready for
a good reason to buy stocks, but the bids get pulled as soon
as a hint of trouble appears. Oddly, the closing Trin on
Monday was a rather small .48. That's not what bulls want to
see for a good bottom to be put in place. Also, the
sentiment is way too bullish. The Vix is stuck around 50,
and hasn't spiked like it tends to do at good lows. Also,
the ISE call/put ratio reached 220 at Monday's close,
meaning for every 100 puts that transacted, there were 220
calls that traded. It seems that the options traders think
the market has only upside potential from here.
Although the market is oversold, the trends and momentum are
still to the downside, the bounces that fizzle should still
offer the better opportunities. If this leg down plays out
the way a "wave 5" often does, the SP500 cash could still
reach 626.74 (+/- a couple points) before a low can be put
in place. We shall see. The market still can not get a
decent rally to stick, so until it does the door remains
open for lower prices.
On Tuesday look for early weakness to be bought, and then
the first rally attempt should set up a shorting opportunity
as soon as the upside stalls out and begins to reverse. If
that happens early, and a bounce fails to break and hold
over the 684.25 level on the ES, then the bears are still
firmly in charge. However, if the ES gets over 684 and the
NQ gets over 1057.00, and the move isn't rejected, then a
run up to test/break the Monday highs could be in the cards
before another reversal occurs.
March 2009 SP futures resistance
symbols: emini = esh9 / big contract =sph9
677.50-678.00
683.50-684.25
688.50-689.25
694.25-694.75
699.75-700.25 **key**
March 2009 SP futures support
symbols: emini = esh9 / big contract =sph9
672.50-672.00
666.50-665.50
662.00-661.50
air-pocket possible
March 2009 Nasdaq futures resistance
symbols: emini = nqh9 / big contract = ndh9
1048.50-1049.25
1056.50-1057.25
1065.50-1066.75
1077.00-1077.75
1089.50-1090.50
March 2009 Nasdaq futures support
symbols: emini = nqh9 / big contract = ndh9
1041.00-1040.25
1035.00-1034.50
1028.75-1027.50
March 2009 Dow futures resistance
symbols: emini = ymh9
6558-6562
6608-6612
6650-6654
6693-6699
6738-6746
March 2009 Dow futures support
symbols: emini = ymh9
6512-6508
6464-6460
6419-6415
FREE Educational Trading Articles:
CLICK HERE to visit our site!
---------------------------
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
and for faster updates and additional commentary here:
http://www.tradestalker.com/RBIchat.htm
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
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)
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.
*************************************************
Sunday, March 08, 2009
TradeStalker's RBI Update 03/08/09
.................................................
TradeStalker's
R.B.I. Trader's Update
3 / 8 / 2009
(Published Since 1996)
...............................................
Dateline: 5:49 pm eastern time, 3/8/2009
It was a rough week for the market as all of the averages
went to multi-year lows. On Friday the market popped up on
the Jobs data, but the early strength was sold and the
market traded in a trend down mode until the last hour of
trading. The ES reached 665.75 and then bounced. After the
pop failed, the ES made a little double bottom pattern and
then turned back up. In the last 45 minutes for futures
trading, the ES sprinted back up to 688.75 and settled well
over fair value.
We have seen these sharp rallies fizzle and reverse over and
over in this bear move lower. This time, however, the market
acted a bit differently. The downside didn't have the
momentum that most of the other drops have had. Also, in the
afternoon there was a switch away from a relatively weak NQ
versus the ES. The NQ acted like it was unable to be pushed
much lower and it flattened out and then got some wings on
Friday afternoon.
At the moment it looks like we could see a decent rally in
the shape of an up-down-up type of pattern. If that occurs,
then when that move runs out of steam on the upside, we
should get one more drop to test or slightly break the
Friday lows. The market is still somewhat oversold, and
Friday ended with the market in uptrends. If this pattern
plays out over the next few days, it should get the crowd
bullish again and set up that final shake-out.
Look for early strength to set up a shorting opportunity if
the move stalls and begins to roll over on Monday. If that
plays out, look for the first decent pullback to set up a
good buying opportunity. If there is a drop back to the
675.00-674.50 area, and the move stalls and quickly turns
back up, it is a good spot for an entry on the long side.
March 2009 SP futures resistance
symbols: emini = esh9 / big contract =sph9
688.00-688.75
693.50-694.50
699.75-700.00 **key**
702.50-703.50
712.50-713.00 **strong**
717.25-717.50
723.50-724.00 **short term major**
March 2009 SP futures support
symbols: emini = esh9 / big contract =sph9
680.50-679.75
675.00-674.50 **key**
670.50-670.00 **strong support must hold**
666.50-665.50
March 2009 Nasdaq futures resistance
symbols: emini = nqh9 / big contract = ndh9
1077.00-1078.00
1083.50-1084.50
1091.75-1092.25 **key**
1100.50-1102.00
1110.00-1110.50 **strong**
1115.50-1116.50
1124.50-1125.00
March 2009 Nasdaq futures support
symbols: emini = nqh9 / big contract = ndh9
1064.50-1063.50
1058.50-1057.75 **key**
1052.50-1051.50 **strong support**
1044.00-1043.00
March 2009 Dow futures resistance
symbols: emini = ymh9
6679-6685
6689-6693
6744-6749 **key**
6785-6789
6877-6882 **strong**
6919-6924
6967-6972
March 2009 Dow futures support
symbols: emini = ymh9
6603-6599
6546-6542 **key**
6505-6501 **strong support**
6463-6460
Visit our site for FREE Trading Articles:
CLICK HERE
---------------------------
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
and for faster updates and additional commentary here:
http://www.tradestalker.com/RBIchat.htm
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
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)
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
R.B.I. Trader's Update
3 / 8 / 2009
(Published Since 1996)
...............................................
Dateline: 5:49 pm eastern time, 3/8/2009
It was a rough week for the market as all of the averages
went to multi-year lows. On Friday the market popped up on
the Jobs data, but the early strength was sold and the
market traded in a trend down mode until the last hour of
trading. The ES reached 665.75 and then bounced. After the
pop failed, the ES made a little double bottom pattern and
then turned back up. In the last 45 minutes for futures
trading, the ES sprinted back up to 688.75 and settled well
over fair value.
We have seen these sharp rallies fizzle and reverse over and
over in this bear move lower. This time, however, the market
acted a bit differently. The downside didn't have the
momentum that most of the other drops have had. Also, in the
afternoon there was a switch away from a relatively weak NQ
versus the ES. The NQ acted like it was unable to be pushed
much lower and it flattened out and then got some wings on
Friday afternoon.
At the moment it looks like we could see a decent rally in
the shape of an up-down-up type of pattern. If that occurs,
then when that move runs out of steam on the upside, we
should get one more drop to test or slightly break the
Friday lows. The market is still somewhat oversold, and
Friday ended with the market in uptrends. If this pattern
plays out over the next few days, it should get the crowd
bullish again and set up that final shake-out.
Look for early strength to set up a shorting opportunity if
the move stalls and begins to roll over on Monday. If that
plays out, look for the first decent pullback to set up a
good buying opportunity. If there is a drop back to the
675.00-674.50 area, and the move stalls and quickly turns
back up, it is a good spot for an entry on the long side.
March 2009 SP futures resistance
symbols: emini = esh9 / big contract =sph9
688.00-688.75
693.50-694.50
699.75-700.00 **key**
702.50-703.50
712.50-713.00 **strong**
717.25-717.50
723.50-724.00 **short term major**
March 2009 SP futures support
symbols: emini = esh9 / big contract =sph9
680.50-679.75
675.00-674.50 **key**
670.50-670.00 **strong support must hold**
666.50-665.50
March 2009 Nasdaq futures resistance
symbols: emini = nqh9 / big contract = ndh9
1077.00-1078.00
1083.50-1084.50
1091.75-1092.25 **key**
1100.50-1102.00
1110.00-1110.50 **strong**
1115.50-1116.50
1124.50-1125.00
March 2009 Nasdaq futures support
symbols: emini = nqh9 / big contract = ndh9
1064.50-1063.50
1058.50-1057.75 **key**
1052.50-1051.50 **strong support**
1044.00-1043.00
March 2009 Dow futures resistance
symbols: emini = ymh9
6679-6685
6689-6693
6744-6749 **key**
6785-6789
6877-6882 **strong**
6919-6924
6967-6972
March 2009 Dow futures support
symbols: emini = ymh9
6603-6599
6546-6542 **key**
6505-6501 **strong support**
6463-6460
Visit our site for FREE Trading Articles:
CLICK HERE
---------------------------
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
and for faster updates and additional commentary here:
http://www.tradestalker.com/RBIchat.htm
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
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)
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.
*************************************************
Basic Guide to Support and Resistance Trading
Hi Folks,
For those of you who haven't read it yet, here is the link to download my FREE Basic Guide to Support and Resistance Trading.
CLICK HERE
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)
For those of you who haven't read it yet, here is the link to download my FREE Basic Guide to Support and Resistance Trading.
CLICK HERE
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)
TradeStalker's RBI Update 03/05/09
.................................................
TradeStalker's
R.B.I. Trader's Update
3 / 5 / 2009
(Published Since 1996)
...............................................
Dateline: 6:49 pm eastern time, 3/5/2009
The ES gapped down on Thursday and right in the 694.75-
694.00 support zone. The ES held and turned up from 694..50
and a feeble bounce followed. The move fizzled as it reached
a 703.50 bounce high, then the market rolled over and tested
the lows. The 694.25 low made a little double bottom, but
the bounce had no gusto and the market rolled over again. In
trend down fashion, the ES fell to the 682.50-681.50 support
zone and then reversed to the upside. The bounce had trouble
at the 692 updated resistance and fell back to 681 again
with just over an hour left in trading. A pop to 688.75 was
rejected, as it coincided with the 60ema on the 5 minute
chart, and the ES plunged to a new low at 676.25 with about
20 minutes left in stock trading. A reversal occurred and
for the first time in awhile the ES rallied into the close.
We get the jobs data on Friday and with the market getting
hammered again, the market needs some good news. There
should be a good number of shorts trapped under 680 and
wanting to see that area tested to get even. Also, with the
market in a deeply oversold status again, the market might
finally give us a decent bounce. How far and for how long is
up in the air, but it's doubtful that a rally is going to
stick.
If there is early weakness and the market can reverse from a
test of the Thursday lows, then a trade on the long side
could set up. If there is some early strength, it will be a
gift on the short side as soon as the upside fizzles. We
could see two-sided action however. As long as the 676.75-
676.25 area on the ES is not broken, the market is repairing
itself. However, if a re-test of that area isn't reversed,
then we could spill towards the 662.50-661.50 zone. If a
reversal doesn't occur from that much more on the downside,
then the ultimate low may not be seen until reaching the 602
area on the SP500 cash.
March 2009 SP futures resistance
symbols: emini = esh9 / big contract =sph9
688.00-688.75
693.50-694.00
702.50-703.50
712.50-713.00
717.25-717.50
723.50-724.00
March 2009 SP futures support
symbols: emini = esh9 / big contract =sph9
681.00-680.50
676.75-676.25
673.50-672.50
662.50-661.50
March 2009 Nasdaq futures resistance
symbols: emini = nqh9 / big contract = ndh9
1085.50-1086.00
1091.75-1092.25
1100.50-1102.00
1110.00-1110.50
1115.50-1116.50
1124.50-1125.00
March 2009 Nasdaq futures support
symbols: emini = nqh9 / big contract = ndh9
1078.75-1077.50
1072.00-1071.25
1067.50-1066.50
1052.50-1051.50
March 2009 Dow futures resistance
symbols: emini = ymh9
6650-6655
6689-6693
6785-6789
6877-6882
6919-6924
6967-6972
March 2009 Dow futures support
symbols: emini = ymh9
6586-6584
6537-6534
6505-6501
6403-6398
---------------------------
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) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
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)
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
R.B.I. Trader's Update
3 / 5 / 2009
(Published Since 1996)
...............................................
Dateline: 6:49 pm eastern time, 3/5/2009
The ES gapped down on Thursday and right in the 694.75-
694.00 support zone. The ES held and turned up from 694..50
and a feeble bounce followed. The move fizzled as it reached
a 703.50 bounce high, then the market rolled over and tested
the lows. The 694.25 low made a little double bottom, but
the bounce had no gusto and the market rolled over again. In
trend down fashion, the ES fell to the 682.50-681.50 support
zone and then reversed to the upside. The bounce had trouble
at the 692 updated resistance and fell back to 681 again
with just over an hour left in trading. A pop to 688.75 was
rejected, as it coincided with the 60ema on the 5 minute
chart, and the ES plunged to a new low at 676.25 with about
20 minutes left in stock trading. A reversal occurred and
for the first time in awhile the ES rallied into the close.
We get the jobs data on Friday and with the market getting
hammered again, the market needs some good news. There
should be a good number of shorts trapped under 680 and
wanting to see that area tested to get even. Also, with the
market in a deeply oversold status again, the market might
finally give us a decent bounce. How far and for how long is
up in the air, but it's doubtful that a rally is going to
stick.
If there is early weakness and the market can reverse from a
test of the Thursday lows, then a trade on the long side
could set up. If there is some early strength, it will be a
gift on the short side as soon as the upside fizzles. We
could see two-sided action however. As long as the 676.75-
676.25 area on the ES is not broken, the market is repairing
itself. However, if a re-test of that area isn't reversed,
then we could spill towards the 662.50-661.50 zone. If a
reversal doesn't occur from that much more on the downside,
then the ultimate low may not be seen until reaching the 602
area on the SP500 cash.
March 2009 SP futures resistance
symbols: emini = esh9 / big contract =sph9
688.00-688.75
693.50-694.00
702.50-703.50
712.50-713.00
717.25-717.50
723.50-724.00
March 2009 SP futures support
symbols: emini = esh9 / big contract =sph9
681.00-680.50
676.75-676.25
673.50-672.50
662.50-661.50
March 2009 Nasdaq futures resistance
symbols: emini = nqh9 / big contract = ndh9
1085.50-1086.00
1091.75-1092.25
1100.50-1102.00
1110.00-1110.50
1115.50-1116.50
1124.50-1125.00
March 2009 Nasdaq futures support
symbols: emini = nqh9 / big contract = ndh9
1078.75-1077.50
1072.00-1071.25
1067.50-1066.50
1052.50-1051.50
March 2009 Dow futures resistance
symbols: emini = ymh9
6650-6655
6689-6693
6785-6789
6877-6882
6919-6924
6967-6972
March 2009 Dow futures support
symbols: emini = ymh9
6586-6584
6537-6534
6505-6501
6403-6398
---------------------------
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) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
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)
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.
*************************************************
Wednesday, March 04, 2009
TradeStalker's RBI Update 03/04/09
.................................................
TradeStalker's
R.B.I. Trader's Update
3 / 4 / 2009
(Published Since 1996)
...............................................
Dateline: 6:14 pm eastern time, 3/4/2009
Free Trading Tutorial, trading videos:
Please visit our website: CLICK HERE
The market opened higher on Wednesday, but the early
strength was sold and the ES dropped from 710.50 to 699.00
in the first 50 minutes of trading. A reversal back up
through 700 on the ES brought in more buying and the ES
rallied to 714.50 by noon. A pullback broke the 706 support,
but the move was reversed and the rally was back in gear.
After a pause around the early high, the ES ran up to 723.75
with 30 minutes left in trading. That was just under the
724.00-724.50 updated resistance zone, and the bulls failed
in their mission to close well. Instead, the bear reminded
us it's still here as the market dropped hard into the
close. In the last 30 minutes the ES dropped 16 points while
the NQ dropped 21.25 points as they settled well under fair
value.
The bounces, no matter how good they look, are still suspect
as they just won't stick. As stated last night, the upside
is not going to be "easy" due to all of the damage that has
been done. There will be eager sellers all the way up, so if
you have profits on a long trade grab them when the upside
momentum fizzles. Or at least, be sure to trail stops.
The market action erased some of the very extreme oversold
readings on the internal gauges on Wednesday. The Vix
flashed one sell signal in the process, as the sentiment
made a reversal from overly bullish.
There is a lot on the economic docket on Thursday. Should
the market open higher, look for a shorting opportunity as
soon as the upside fizzles. If the market opens lower, then
a pop back towards the 712.50-713.00 that fizzles sets up a
shorting opportunity. As for the long side, a drop under 700
that reverses back up through that level should trigger
buying. If that occurs, it could be good for a rebound.
However, if the 700 level is broken and not quickly
reversed, then we could head back towards the 688.00-687.50
zone, and possibly down to the 682.50-681.50 zone. If the ES
happens to reach that 682.50-681.50 zone, and then turns up,
it should set up a great buying opportunity for a trade.
March 2009 SP futures resistance
symbols: emini = esh9 / big contract =sph9
712.50-713.00
717.25-717.50
723.50-724.00
732.50-733.00
March 2009 SP futures support
symbols: emini = esh9 / big contract =sph9
707.50-707.00
700.00-699.50
694.75-694.00
688.00-687.50
682.50-681.50
March 2009 Nasdaq futures resistance
symbols: emini = nqh9 / big contract = ndh9
1110.00-1110.50
1115.50-1116.50
1124.50-1125.00
1134.50-1135.50
March 2009 Nasdaq futures support
symbols: emini = nqh9 / big contract = ndh9
1096.50-1095.50
1090.25-1089.50
1085.75-1085.00
1078.75-1078.00
1068.75-1068.00
March 2009 Dow futures resistance
symbols: emini = ymh9
6877-6882
6919-6924
6967-6972
7048-7053
March 2009 Dow futures support
symbols: emini = ymh9
6827-6823
6765-6760
6698-6693
6648-6643
6612-6607
---------------------------
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) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
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)
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
R.B.I. Trader's Update
3 / 4 / 2009
(Published Since 1996)
...............................................
Dateline: 6:14 pm eastern time, 3/4/2009
Free Trading Tutorial, trading videos:
Please visit our website: CLICK HERE
The market opened higher on Wednesday, but the early
strength was sold and the ES dropped from 710.50 to 699.00
in the first 50 minutes of trading. A reversal back up
through 700 on the ES brought in more buying and the ES
rallied to 714.50 by noon. A pullback broke the 706 support,
but the move was reversed and the rally was back in gear.
After a pause around the early high, the ES ran up to 723.75
with 30 minutes left in trading. That was just under the
724.00-724.50 updated resistance zone, and the bulls failed
in their mission to close well. Instead, the bear reminded
us it's still here as the market dropped hard into the
close. In the last 30 minutes the ES dropped 16 points while
the NQ dropped 21.25 points as they settled well under fair
value.
The bounces, no matter how good they look, are still suspect
as they just won't stick. As stated last night, the upside
is not going to be "easy" due to all of the damage that has
been done. There will be eager sellers all the way up, so if
you have profits on a long trade grab them when the upside
momentum fizzles. Or at least, be sure to trail stops.
The market action erased some of the very extreme oversold
readings on the internal gauges on Wednesday. The Vix
flashed one sell signal in the process, as the sentiment
made a reversal from overly bullish.
There is a lot on the economic docket on Thursday. Should
the market open higher, look for a shorting opportunity as
soon as the upside fizzles. If the market opens lower, then
a pop back towards the 712.50-713.00 that fizzles sets up a
shorting opportunity. As for the long side, a drop under 700
that reverses back up through that level should trigger
buying. If that occurs, it could be good for a rebound.
However, if the 700 level is broken and not quickly
reversed, then we could head back towards the 688.00-687.50
zone, and possibly down to the 682.50-681.50 zone. If the ES
happens to reach that 682.50-681.50 zone, and then turns up,
it should set up a great buying opportunity for a trade.
March 2009 SP futures resistance
symbols: emini = esh9 / big contract =sph9
712.50-713.00
717.25-717.50
723.50-724.00
732.50-733.00
March 2009 SP futures support
symbols: emini = esh9 / big contract =sph9
707.50-707.00
700.00-699.50
694.75-694.00
688.00-687.50
682.50-681.50
March 2009 Nasdaq futures resistance
symbols: emini = nqh9 / big contract = ndh9
1110.00-1110.50
1115.50-1116.50
1124.50-1125.00
1134.50-1135.50
March 2009 Nasdaq futures support
symbols: emini = nqh9 / big contract = ndh9
1096.50-1095.50
1090.25-1089.50
1085.75-1085.00
1078.75-1078.00
1068.75-1068.00
March 2009 Dow futures resistance
symbols: emini = ymh9
6877-6882
6919-6924
6967-6972
7048-7053
March 2009 Dow futures support
symbols: emini = ymh9
6827-6823
6765-6760
6698-6693
6648-6643
6612-6607
---------------------------
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) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
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)
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 03/03/09
.................................................
TradeStalker's
R.B.I. Trader's Update
3 / 3/ 2009
(Published Since 1996)
...............................................
Dateline: 6:14 pm eastern time, 3/03/2009
The market opened higher on Tuesday, but the ES was
immediately sold and fell from 712.00 to 691.25 by late
morning. A bounce to 703 on the ES failed, and the market
went back to test the lows. A reversal from 692.50 started a
run-up to 709.50 just before 3pm eastern time, and then
selling came in. The ES fell through 703 and gathered some
steam, as the market fell to new lows in the final minutes
of trading. The ES finally reached the 688 handle that I've
been mentioning, reaching 688.75 just before settlement.
The market continues to act horrible, and the damage is
getting to a spot where it will take some time to repair.
Right now, it will take a close over 712 to begin a
bottoming process. The indicators are deeply oversold, and
the Vix did give one buy signal on Tuesday's close, so maybe
we can get a decent bounce intraday. However, it is
beginning to look like a drop of another 20 points on the ES
is very possible.
On Wednesday, continue to focus on the short side. If there
is early weakness, look for a reversal to set up a trade on
the long side. If that plays out, beware that the first
decent bounce will be sold as soon as the upside fizzles. We
will get the Fed Beige Book at 2pm eastern time, so the end
of day could see even more volatility than normal.
March 2009 SP futures resistance
symbols: emini = esh9 / big contract =sph9
699.50-700.00
709.00-709.50
712.50-713.00
719.25-720.00
March 2009 SP futures support
symbols: emini = esh9 / big contract =sph9
688.00-687.50
682.50-681.50
673.50-672.50
662.50-661.50
air-pocket if broken
March 2009 Nasdaq futures resistance
symbols: emini = nqh9 / big contract = ndh9
1088.50-1089.25
1096.00-1096.50
1102.25-1102.75
1108.50-1109.50
March 2009 Nasdaq futures support
symbols: emini = nqh9 / big contract = ndh9
1062.50-1062.00
1052.50-1051.50
1046.50-1045.50
[watch ES if broken]
March 2009 Dow futures resistance
symbols: emini = ymh9
6760-6765
6840-6845
6868-6873
6914-6917
March 2009 Dow futures support
symbols: emini = ymh9
6665-6662
6612-6607
6545-6540
---------------------------
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) 2009 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
R.B.I. Trader's Update
3 / 3/ 2009
(Published Since 1996)
...............................................
Dateline: 6:14 pm eastern time, 3/03/2009
The market opened higher on Tuesday, but the ES was
immediately sold and fell from 712.00 to 691.25 by late
morning. A bounce to 703 on the ES failed, and the market
went back to test the lows. A reversal from 692.50 started a
run-up to 709.50 just before 3pm eastern time, and then
selling came in. The ES fell through 703 and gathered some
steam, as the market fell to new lows in the final minutes
of trading. The ES finally reached the 688 handle that I've
been mentioning, reaching 688.75 just before settlement.
The market continues to act horrible, and the damage is
getting to a spot where it will take some time to repair.
Right now, it will take a close over 712 to begin a
bottoming process. The indicators are deeply oversold, and
the Vix did give one buy signal on Tuesday's close, so maybe
we can get a decent bounce intraday. However, it is
beginning to look like a drop of another 20 points on the ES
is very possible.
On Wednesday, continue to focus on the short side. If there
is early weakness, look for a reversal to set up a trade on
the long side. If that plays out, beware that the first
decent bounce will be sold as soon as the upside fizzles. We
will get the Fed Beige Book at 2pm eastern time, so the end
of day could see even more volatility than normal.
March 2009 SP futures resistance
symbols: emini = esh9 / big contract =sph9
699.50-700.00
709.00-709.50
712.50-713.00
719.25-720.00
March 2009 SP futures support
symbols: emini = esh9 / big contract =sph9
688.00-687.50
682.50-681.50
673.50-672.50
662.50-661.50
air-pocket if broken
March 2009 Nasdaq futures resistance
symbols: emini = nqh9 / big contract = ndh9
1088.50-1089.25
1096.00-1096.50
1102.25-1102.75
1108.50-1109.50
March 2009 Nasdaq futures support
symbols: emini = nqh9 / big contract = ndh9
1062.50-1062.00
1052.50-1051.50
1046.50-1045.50
[watch ES if broken]
March 2009 Dow futures resistance
symbols: emini = ymh9
6760-6765
6840-6845
6868-6873
6914-6917
March 2009 Dow futures support
symbols: emini = ymh9
6665-6662
6612-6607
6545-6540
---------------------------
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) 2009 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.
*************************************************
Monday, March 02, 2009
TradeStalker's RBI Update 03/02/09
.................................................
TradeStalker's
R.B.I. Trader's Update
3 / 2 / 2009
(Published Since 1996)
...............................................
Dateline: 6:54 pm eastern time, 3/02/2009
The market gapped down on Monday, and buyers stepped to the
plate and the market bounced a bit. However, the move
fizzled at 724.50 on the ES about 30 minutes into the
trading day, and a trend down move was underway. Around 1:30
p.m. the market made its only counter-trend bounce of the
day, as the ES went from 703.00 up to 712.50. That coincided
with the 60ema on the 5 minute chart, and the market rolled
back over. The ES finally dropped under 700 with about 20
minutes left in stock trading, reaching a 698.75 low before
reversing. The rebound took the ES back to 706 and it
settled well above fair value.
The market showed a bit of capitulation on Monday. Only 203
advancing issues on the NYSE is rare, and the closing Trin
above 3.50 is normally a sign of panic selling. This should
set the stage for a decent rally attempt on Tuesday. There
is some economic data on the docket before the open, and
also the ISM Index at 10 a.m. eastern time. If this turns
out to be the case, it looks like the ES should make an up-
down-up type of pattern and then one more drop to test/break
the Monday lows. We'll see how that plays out. If it does,
then a reversal should mark a good trading low for a good
sized snap-back rally.
On Tuesday look for early strength to fizzle to set up a
trade on the short side, and then the first decent pullback
should set up a buying opportunity when the downside slows
and begins to turn back up. On the other side of the coin,
if there is an early drop under 700 on the ES, and then the
market turns back up through that level, it should spark a
decent rally. After the early going, as long as the 700
level on the ES is held, the market should be "ok" for a
decent rally. If the ES goes under 700 and can not quickly
reverse, then the market is still in trouble and the ES will
probably drop another 10+ points before getting footing and
turning back up.
March 2009 SP futures resistance
symbols: emini = esh9 / big contract =sph9
707.50-708.00
712.50-713.00
719.25-720.00
724.00-724.50
732.50-733.00
March 2009 SP futures support
symbols: emini = esh9 / big contract =sph9
699.50-698.75
694.75-694.00
688.00-687.50
684.00
March 2009 Nasdaq futures resistance
symbols: emini = nqh9 / big contract = ndh9
1089.25-1090.50
1095.25-1096.50
1101.50-1102.50
1107.00-1107.75
1116.60-1117.50
March 2009 Nasdaq futures support
symbols: emini = nqh9 / big contract = ndh9
1075.00-1074.25
1068.75-1068.00
1060.50-1059.75
March 2009 Dow futures resistance
symbols: emini = ymh9
6814-6819
6868-6873
6914-6917
6962-6967
7048-7053
March 2009 Dow futures support
symbols: emini = ymh9
6745-6740
6698-6693
6648-6643
---------------------------
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) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
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)
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
R.B.I. Trader's Update
3 / 2 / 2009
(Published Since 1996)
...............................................
Dateline: 6:54 pm eastern time, 3/02/2009
The market gapped down on Monday, and buyers stepped to the
plate and the market bounced a bit. However, the move
fizzled at 724.50 on the ES about 30 minutes into the
trading day, and a trend down move was underway. Around 1:30
p.m. the market made its only counter-trend bounce of the
day, as the ES went from 703.00 up to 712.50. That coincided
with the 60ema on the 5 minute chart, and the market rolled
back over. The ES finally dropped under 700 with about 20
minutes left in stock trading, reaching a 698.75 low before
reversing. The rebound took the ES back to 706 and it
settled well above fair value.
The market showed a bit of capitulation on Monday. Only 203
advancing issues on the NYSE is rare, and the closing Trin
above 3.50 is normally a sign of panic selling. This should
set the stage for a decent rally attempt on Tuesday. There
is some economic data on the docket before the open, and
also the ISM Index at 10 a.m. eastern time. If this turns
out to be the case, it looks like the ES should make an up-
down-up type of pattern and then one more drop to test/break
the Monday lows. We'll see how that plays out. If it does,
then a reversal should mark a good trading low for a good
sized snap-back rally.
On Tuesday look for early strength to fizzle to set up a
trade on the short side, and then the first decent pullback
should set up a buying opportunity when the downside slows
and begins to turn back up. On the other side of the coin,
if there is an early drop under 700 on the ES, and then the
market turns back up through that level, it should spark a
decent rally. After the early going, as long as the 700
level on the ES is held, the market should be "ok" for a
decent rally. If the ES goes under 700 and can not quickly
reverse, then the market is still in trouble and the ES will
probably drop another 10+ points before getting footing and
turning back up.
March 2009 SP futures resistance
symbols: emini = esh9 / big contract =sph9
707.50-708.00
712.50-713.00
719.25-720.00
724.00-724.50
732.50-733.00
March 2009 SP futures support
symbols: emini = esh9 / big contract =sph9
699.50-698.75
694.75-694.00
688.00-687.50
684.00
March 2009 Nasdaq futures resistance
symbols: emini = nqh9 / big contract = ndh9
1089.25-1090.50
1095.25-1096.50
1101.50-1102.50
1107.00-1107.75
1116.60-1117.50
March 2009 Nasdaq futures support
symbols: emini = nqh9 / big contract = ndh9
1075.00-1074.25
1068.75-1068.00
1060.50-1059.75
March 2009 Dow futures resistance
symbols: emini = ymh9
6814-6819
6868-6873
6914-6917
6962-6967
7048-7053
March 2009 Dow futures support
symbols: emini = ymh9
6745-6740
6698-6693
6648-6643
---------------------------
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) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
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)
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.
*************************************************
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