HOW OUR DAY WENT:
After the early action, members were
told that the 968-969 area was a good resistance area.
The ES popped up to 968 and backed off to a 962.50 low
(right at the 963.00-962.50 initial support) and turned
back up. After a good bounce off of support, the 968.75
level was given as new support and after direct hit on
that level held, it lead to a nice pop to 975.00. It
looked like a top, but I was wrong about that as buying
started with 30 minutes left and the move ended the week
at its highs. Still, a good short early and then nailing
the 962.50 low and a couple other trades made it a good day.
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)
Friday, July 24, 2009
Thursday, July 23, 2009
TradeStalker's RBI Update 07/23/09
.................................................
TradeStalker's
R.B.I. Trader's Update
7 / 23 / 2009
(Published Since 1996)
...............................................
Dateline: 6:22 pm eastern time, 7/23/2009
The market opened higher on Thursday and went trend up into
the early afternoon. After reaching 976.25 early afternoon,
the ES backed off to 972.25 and bounced back. The bounce
reached 976.50 on the ES and fizzled. With a stretched out
market losing momentum, the market reversed and the ES fell
to 968.50 just before settlement.
The late day dumping of stocks could be the start of
something. At the best, the market should have a hard time
holding its gains on Friday. The market closed in new high
ground, but the internal gauges are either short term
overbought, or showing a bearish divergence. Also, while the
market was up during the day the Vix was up also. On the
drop, it also dropped. That sentiment expects another rally,
but if it does not occur on Friday then the Vix will flash a
bunch of sell signals.
On Friday, a lower open will likely set up a bounce in the
early going. However, the first decent bounce should set up
a very good shorting opportunity when the upside
stalls/reverses. If the ES reaches the 973.25-973.75 area or
a bit lower and reverses, then the market is weak and the
bounces should set up shorting opportunities.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
968.50-969.00
973.25-973.75
975.50-976.50
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
963.00-962.50
955.00-954.50
948.25-947.75
944.75-944.25
940.25-939.25
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1583.00-1583.75
1597.50-1598.25
1603.00-1604.00
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1574.50-1573.75
1564.00-1563.25
1556.75-1555.50
1549.50-1548.75
1542.50-1542.25
September 2009 Dow futures resistance
symbols: emini = ymu9
8993-8995
9022-9025
9054-9059
September 2009 Dow futures support
symbols: emini = ymu9
8953-8950
8868-8864
8818-8816
8791-8788
8766-8762
CLICK HERE for FREE Trading Articles and Videos!
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
7 / 23 / 2009
(Published Since 1996)
...............................................
Dateline: 6:22 pm eastern time, 7/23/2009
The market opened higher on Thursday and went trend up into
the early afternoon. After reaching 976.25 early afternoon,
the ES backed off to 972.25 and bounced back. The bounce
reached 976.50 on the ES and fizzled. With a stretched out
market losing momentum, the market reversed and the ES fell
to 968.50 just before settlement.
The late day dumping of stocks could be the start of
something. At the best, the market should have a hard time
holding its gains on Friday. The market closed in new high
ground, but the internal gauges are either short term
overbought, or showing a bearish divergence. Also, while the
market was up during the day the Vix was up also. On the
drop, it also dropped. That sentiment expects another rally,
but if it does not occur on Friday then the Vix will flash a
bunch of sell signals.
On Friday, a lower open will likely set up a bounce in the
early going. However, the first decent bounce should set up
a very good shorting opportunity when the upside
stalls/reverses. If the ES reaches the 973.25-973.75 area or
a bit lower and reverses, then the market is weak and the
bounces should set up shorting opportunities.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
968.50-969.00
973.25-973.75
975.50-976.50
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
963.00-962.50
955.00-954.50
948.25-947.75
944.75-944.25
940.25-939.25
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1583.00-1583.75
1597.50-1598.25
1603.00-1604.00
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1574.50-1573.75
1564.00-1563.25
1556.75-1555.50
1549.50-1548.75
1542.50-1542.25
September 2009 Dow futures resistance
symbols: emini = ymu9
8993-8995
9022-9025
9054-9059
September 2009 Dow futures support
symbols: emini = ymu9
8953-8950
8868-8864
8818-8816
8791-8788
8766-8762
CLICK HERE for FREE Trading Articles and Videos!
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.
*************************************************
Today's Trading Recap: 07/23/09
HOW OUR DAY WENT: The market opened higher and went "trend
up" until getting to 976.25 on the ES. I was until around
noon and got our members a good trade. After coming off
the double top at 976.50 on the ES, those in the IM "room"
got this quick post at 3:21pm eastern time:
(Jul 23-15:21) mike: bad pattern, pop tht fizzles at
975,50-976.00 a sell
That was sweet. The ES popped to that zone, reaching
976.00 and reversed just 9 minutes later. The ES fell
7.50 points to 968.50 by the close. We scaled out in
thirds at 974.00 or better, 971.00 and carried partial
position marked-to-market at 969.00 overnight.
Good Trading,
Mike Reed
TradeStalker.com
up" until getting to 976.25 on the ES. I was until around
noon and got our members a good trade. After coming off
the double top at 976.50 on the ES, those in the IM "room"
got this quick post at 3:21pm eastern time:
(Jul 23-15:21) mike: bad pattern, pop tht fizzles at
975,50-976.00 a sell
That was sweet. The ES popped to that zone, reaching
976.00 and reversed just 9 minutes later. The ES fell
7.50 points to 968.50 by the close. We scaled out in
thirds at 974.00 or better, 971.00 and carried partial
position marked-to-market at 969.00 overnight.
Good Trading,
Mike Reed
TradeStalker.com
Wednesday, July 22, 2009
TradeStalker's RBI Update 07/22/09
.................................................
TradeStalker's
R.B.I. Trader's Update
7 / 22 / 2009
(Published Since 1996)
...............................................
Dateline: 6:07 pm eastern time, 7/22/2009
The ES opened down 8 points on Wednesday, and the move was
reversed from the get-go. The ES rallied 10 points to the
954.00-954.50 initial resistance area, and a double top was
made. The ES fell to the 947.75 support and bounced again,
and after breaking out of a triangle pattern the ES ran up
to 956.75. A double top was made there, and then the market
went into a choppy trend down move into the close.
On Thursday we get Initial Claims before the open, and then
the Existing Home Sales 30 minutes into the trading day. The
market action on Wednesday was the first real sign of
weakness in quite some time. Volatility should be returning.
The action was two-sided and a bit tricky as the ES had a
number of swings intraday. The ES made these moves intraday
on Wednesday:
944.50 -9.50
954.50 +10.00
947.75 -6.75
953.50 +5.75
949.25 -4.25
956.75 +7.50
950.75 -6.00
954.25 +3.50
948.25 -6.00
The weight of the evidence from the daily indicators says a
short term top should be in place. The Nasdaq looks
especially vulnerable if there is a selloff.
On Thursday the market would need to get over the initial
resistance areas and not quickly reverse, to get back into
uptrends. Even if that occurs, the bounces will have trouble
holding. If there is early strength, the move should set up
a very good shorting opportunity, especially if the move is
rejected from the initial resistance areas. If the market
opens lower, a rebound should occur in the first 45 minutes
of trading. If it stalls out under the 952 level on the ES
and 1560 on the NQ, then the market is weak and there is
more to come on the downside.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
953.75-954.25
956.50-956.75
963.50-964.00
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
948.25-947.75
944.75-944.25
940.25-939.25
937.25-937.00
933.00-932.75
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1564.75-1565.25
1570.50-1571.25
1576.75-1578.50
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1556.75-1555.50
1549.50-1548.75
1542.50-1542.25
1536.50-1535.50
1525.50-1524.50
September 2009 Dow futures resistance
symbols: emini = ymu9
8864-8868
8902-8907
8974-8978
September 2009 Dow futures support
symbols: emini = ymu9
8818-8816
8791-8788
8766-8762
8732-8728
8708-8702
CLICK HERE for FREE Trading Articles and Videos!
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
7 / 22 / 2009
(Published Since 1996)
...............................................
Dateline: 6:07 pm eastern time, 7/22/2009
The ES opened down 8 points on Wednesday, and the move was
reversed from the get-go. The ES rallied 10 points to the
954.00-954.50 initial resistance area, and a double top was
made. The ES fell to the 947.75 support and bounced again,
and after breaking out of a triangle pattern the ES ran up
to 956.75. A double top was made there, and then the market
went into a choppy trend down move into the close.
On Thursday we get Initial Claims before the open, and then
the Existing Home Sales 30 minutes into the trading day. The
market action on Wednesday was the first real sign of
weakness in quite some time. Volatility should be returning.
The action was two-sided and a bit tricky as the ES had a
number of swings intraday. The ES made these moves intraday
on Wednesday:
944.50 -9.50
954.50 +10.00
947.75 -6.75
953.50 +5.75
949.25 -4.25
956.75 +7.50
950.75 -6.00
954.25 +3.50
948.25 -6.00
The weight of the evidence from the daily indicators says a
short term top should be in place. The Nasdaq looks
especially vulnerable if there is a selloff.
On Thursday the market would need to get over the initial
resistance areas and not quickly reverse, to get back into
uptrends. Even if that occurs, the bounces will have trouble
holding. If there is early strength, the move should set up
a very good shorting opportunity, especially if the move is
rejected from the initial resistance areas. If the market
opens lower, a rebound should occur in the first 45 minutes
of trading. If it stalls out under the 952 level on the ES
and 1560 on the NQ, then the market is weak and there is
more to come on the downside.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
953.75-954.25
956.50-956.75
963.50-964.00
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
948.25-947.75
944.75-944.25
940.25-939.25
937.25-937.00
933.00-932.75
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1564.75-1565.25
1570.50-1571.25
1576.75-1578.50
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1556.75-1555.50
1549.50-1548.75
1542.50-1542.25
1536.50-1535.50
1525.50-1524.50
September 2009 Dow futures resistance
symbols: emini = ymu9
8864-8868
8902-8907
8974-8978
September 2009 Dow futures support
symbols: emini = ymu9
8818-8816
8791-8788
8766-8762
8732-8728
8708-8702
CLICK HERE for FREE Trading Articles and Videos!
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.
*************************************************
Today's Trading Recap: 07/22/09
HOW OUR DAY WENT: The ES opened 8.25 points lower on Wednesday and immediately reversed and ran to make a double top at 954.50 resistance. It set up a short that reached our 947.50-946.75target before reversing. After coming off the double top at 956.75, those in the IM "room" got this quick post:
(Jul 22-14:52) mike: 953.50-954.00 pivotal all day. early
dbl top, a low after breakout to the high, resist here
The ES rejected 954.25 about 8 minutes later, and it sold
off to 948.75 in 15 minutes, another nice quick trade.
That is just 2 of our trades, as there was a good deal
of info posted today, not to mention SEVEN intraday
updates.
Good Trading,
Mike Reed
TradeStalker.com
(Jul 22-14:52) mike: 953.50-954.00 pivotal all day. early
dbl top, a low after breakout to the high, resist here
The ES rejected 954.25 about 8 minutes later, and it sold
off to 948.75 in 15 minutes, another nice quick trade.
That is just 2 of our trades, as there was a good deal
of info posted today, not to mention SEVEN intraday
updates.
Good Trading,
Mike Reed
TradeStalker.com
Tuesday, July 21, 2009
TradeStalker's RBI Update 07/21/09
.................................................
TradeStalker's
R.B.I. Trader's Update
7 / 21 / 2009
(Published Since 1996)
...............................................
Dateline: 6:33 pm eastern time, 7/21/2009
The ES opened up 5.25 points on Tuesday, but that early
strength reversed and we had a drop to 945.00 in short
order. That was at the 945.00-944.50 support area, and the
ES bounced to 951.75 and quickly reversed. That lead to a
drop to 939.50 on the ES, just a tick under the
940.25-939.25 key support, and the move was reversed. The ES
turned up and started a slow and choppy grind higher to the
947.75-948.00 area. There was only a small pullback, and it
caused a rally back to 954.00 just before settlement for the
futures.
On Tuesday we had trend-down action into early afternoon,
then after reversing from the 940.25-939.25 zone the market
started a choppy trend-up move. Despite the new highs on
this leg up, the internal gauges have gone into neutral
territory. Also, although the market rallied back to close
at the highs on the cash indices, the ES settled 3 ticks
under its open.
The market ended the day in uptrends, so on Wednesday we are
likely going to see early strength set up a shorting
opportunity. A pop up open just above the Tuesday highs that
reverses would set up that trade. Then, as long as the
947.50-946.75 initial support area on the ES holds on the
first decent pullback, the upside move should continue. If
that area is not held, then the 940.25-939.25 area is still
the major short term support. If the market gets back there,
and buyers do not step to the plate, then the charts will
begin a topping pattern.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
954.50-955.50
958.50-959.00
963.50-964.00
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
947.50-946.75
940.25-939.25
937.25-937.00
933.00-932.75
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1544.75-1555.25
1560.50-1561.25
1566.75-1568.00
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1544.75-1544.00
1529.50-1528.25
1525.50-1524.50
1518.75-1518.00
September 2009 Dow futures resistance
symbols: emini = ymu9
8890-8894
8938-8942
8974-8978
September 2009 Dow futures support
symbols: emini = ymu9
8835-8830
8766-8762
8732-8728
8708-8702
CLICK HERE for FREE Trading Articles and Videos!
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
7 / 21 / 2009
(Published Since 1996)
...............................................
Dateline: 6:33 pm eastern time, 7/21/2009
The ES opened up 5.25 points on Tuesday, but that early
strength reversed and we had a drop to 945.00 in short
order. That was at the 945.00-944.50 support area, and the
ES bounced to 951.75 and quickly reversed. That lead to a
drop to 939.50 on the ES, just a tick under the
940.25-939.25 key support, and the move was reversed. The ES
turned up and started a slow and choppy grind higher to the
947.75-948.00 area. There was only a small pullback, and it
caused a rally back to 954.00 just before settlement for the
futures.
On Tuesday we had trend-down action into early afternoon,
then after reversing from the 940.25-939.25 zone the market
started a choppy trend-up move. Despite the new highs on
this leg up, the internal gauges have gone into neutral
territory. Also, although the market rallied back to close
at the highs on the cash indices, the ES settled 3 ticks
under its open.
The market ended the day in uptrends, so on Wednesday we are
likely going to see early strength set up a shorting
opportunity. A pop up open just above the Tuesday highs that
reverses would set up that trade. Then, as long as the
947.50-946.75 initial support area on the ES holds on the
first decent pullback, the upside move should continue. If
that area is not held, then the 940.25-939.25 area is still
the major short term support. If the market gets back there,
and buyers do not step to the plate, then the charts will
begin a topping pattern.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
954.50-955.50
958.50-959.00
963.50-964.00
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
947.50-946.75
940.25-939.25
937.25-937.00
933.00-932.75
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1544.75-1555.25
1560.50-1561.25
1566.75-1568.00
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1544.75-1544.00
1529.50-1528.25
1525.50-1524.50
1518.75-1518.00
September 2009 Dow futures resistance
symbols: emini = ymu9
8890-8894
8938-8942
8974-8978
September 2009 Dow futures support
symbols: emini = ymu9
8835-8830
8766-8762
8732-8728
8708-8702
CLICK HERE for FREE Trading Articles and Videos!
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.
*************************************************
Today's Trading Recap: 07/21/09
HOW OUR DAY WENT: We were shorting early strength and
the gap up open was reversed right from the open. Even
waiting for 950 to break for a trigger gave a decent
trade as the ES went right to our 945.00 support before
bouncing. That move also reversed 950, and gave a sell-
off to our 940.25-939.25 key area. The ES reversed from
a 939.50 low quickly, and after breaking 944 the move
changed dynamics. Members were given updated support
on the way up to the 947.75-948.00 new resistance zone.
The ES held 942.00 on a pullback then continued its
rally into the close.
Good Trading,
Mike Reed
TradeStalker.com
the gap up open was reversed right from the open. Even
waiting for 950 to break for a trigger gave a decent
trade as the ES went right to our 945.00 support before
bouncing. That move also reversed 950, and gave a sell-
off to our 940.25-939.25 key area. The ES reversed from
a 939.50 low quickly, and after breaking 944 the move
changed dynamics. Members were given updated support
on the way up to the 947.75-948.00 new resistance zone.
The ES held 942.00 on a pullback then continued its
rally into the close.
Good Trading,
Mike Reed
TradeStalker.com
Monday, July 20, 2009
TradeStalker's RBI Update 07/20/09
.................................................
TradeStalker's
R.B.I. Trader's Update
7 / 20 / 2009
(Published Since 1996)
...............................................
Dateline: 6:29 pm eastern time, 7/20/2009
The market opened higher on Monday, and after the ES made a
double top at 945.75 there was a pretty quick drop to the
updated support at the 927.50-927.00 zone. With a low at
937.25 on the ES, the market went into a grind higher and
reached 944.50 before pulling back. The ES dropped to 940,
just over the 939.75 level, and quickly reversed. That was
enough to start a bounce, and with a couple little shakeouts
along the way, the market went into a choppy grind higher
that took the ES up to 949.25 just before the close.
The market still has good upside momentum, and holding the
940.00-939.75 area on the ES keeps the melt-up action in
gear. That area is now key support, and really shouldn't
even be tested if the market is going higher from here. The
market has had a good underlying bid, with the quick
pullbacks all getting turned around and headed back to the
upside. The only bad thing is that after 9 straight up days
for the Nasdaq 100 and a 72 point gain over 6 days for the
SP500 cash, this move has gone pretty fast pretty fast. A
pullback should be due, and the late run-up into the close
might have been the hook that makes for a short term trading
top.
The moves into new high ground have tended to be sold the
first go around. If there is early strength, and the ES
stalls/reverses from around the 952.00-953.00 area, that
could make a double top of sorts, and a sell-off could
begin. On the other side of the coin, if the Monday highs
are not exceeded, and the initial support areas are not able
to hold, then a test of the 940.25-939.75 area should be
telling. That is the last round number that was resistance
and now support, and that is also where buyers came in on
Monday afternoon. If it is not defended, then things could
be changing short term. A drop back to the 933.00-932.25
area on the ES, and possibly quite a bit lower could be in
the cards.
On Tuesday get short if there is early strength, as the ES
should not exceed the 952-953 area if there is going to
finally be a decent pullback. A move over 950 that then goes
back down through 950 would be a decent entry. If that plays
out, and the initial support isn't held, a drop towards the
Monday afternoon lows needs to hold, otherwise it could be a
bad day for the market.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
949.25
952.00-953.00
957.50-958.00
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
945.00-944.50
940.25-939.25
937.25-937.00
933.00-932.25
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1544.00
1547.75-1548.25
1554.00-1554.75
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1535.00-1534.50
1530.50-1529.75
1526.00-1525.50
1518.75-1508.00
September 2009 Dow futures resistance
symbols: emini = ymu9
8810
8841-8848
8878-8882
September 2009 Dow futures support
symbols: emini = ymu9
8778-8774
8736-8732
8702-8698
8658-8654
CLICK HERE to watch a brief video on how to
best utilize the RBI Updates in your own trading.
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
7 / 20 / 2009
(Published Since 1996)
...............................................
Dateline: 6:29 pm eastern time, 7/20/2009
The market opened higher on Monday, and after the ES made a
double top at 945.75 there was a pretty quick drop to the
updated support at the 927.50-927.00 zone. With a low at
937.25 on the ES, the market went into a grind higher and
reached 944.50 before pulling back. The ES dropped to 940,
just over the 939.75 level, and quickly reversed. That was
enough to start a bounce, and with a couple little shakeouts
along the way, the market went into a choppy grind higher
that took the ES up to 949.25 just before the close.
The market still has good upside momentum, and holding the
940.00-939.75 area on the ES keeps the melt-up action in
gear. That area is now key support, and really shouldn't
even be tested if the market is going higher from here. The
market has had a good underlying bid, with the quick
pullbacks all getting turned around and headed back to the
upside. The only bad thing is that after 9 straight up days
for the Nasdaq 100 and a 72 point gain over 6 days for the
SP500 cash, this move has gone pretty fast pretty fast. A
pullback should be due, and the late run-up into the close
might have been the hook that makes for a short term trading
top.
The moves into new high ground have tended to be sold the
first go around. If there is early strength, and the ES
stalls/reverses from around the 952.00-953.00 area, that
could make a double top of sorts, and a sell-off could
begin. On the other side of the coin, if the Monday highs
are not exceeded, and the initial support areas are not able
to hold, then a test of the 940.25-939.75 area should be
telling. That is the last round number that was resistance
and now support, and that is also where buyers came in on
Monday afternoon. If it is not defended, then things could
be changing short term. A drop back to the 933.00-932.25
area on the ES, and possibly quite a bit lower could be in
the cards.
On Tuesday get short if there is early strength, as the ES
should not exceed the 952-953 area if there is going to
finally be a decent pullback. A move over 950 that then goes
back down through 950 would be a decent entry. If that plays
out, and the initial support isn't held, a drop towards the
Monday afternoon lows needs to hold, otherwise it could be a
bad day for the market.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
949.25
952.00-953.00
957.50-958.00
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
945.00-944.50
940.25-939.25
937.25-937.00
933.00-932.25
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1544.00
1547.75-1548.25
1554.00-1554.75
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1535.00-1534.50
1530.50-1529.75
1526.00-1525.50
1518.75-1508.00
September 2009 Dow futures resistance
symbols: emini = ymu9
8810
8841-8848
8878-8882
September 2009 Dow futures support
symbols: emini = ymu9
8778-8774
8736-8732
8702-8698
8658-8654
CLICK HERE to watch a brief video on how to
best utilize the RBI Updates in your own trading.
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.
*************************************************
Today's Trading Recap: 07/20/09
HOW OUR DAY WENT: We were shorting early strength on
Monday and the ES made a double top at 945.75 and reversed.
The pullback stopped right at the 937.50-937.00 updated
support/target before a bounce. Members were given new
key resistance at 941.50-942.50 on the Members Instant
Message page, and a little double top at 942.25 set up
a scalp on the short side. That pullback held the 939.75
support by 3 ticks and started a choppy grind to 949.25
by the close.
Good Trading,
Mike Reed
TradeStalker.com
Monday and the ES made a double top at 945.75 and reversed.
The pullback stopped right at the 937.50-937.00 updated
support/target before a bounce. Members were given new
key resistance at 941.50-942.50 on the Members Instant
Message page, and a little double top at 942.25 set up
a scalp on the short side. That pullback held the 939.75
support by 3 ticks and started a choppy grind to 949.25
by the close.
Good Trading,
Mike Reed
TradeStalker.com
TradeStalker's RBI Update 07/19/09
.................................................
TradeStalker's
R.B.I. Trader's Update
7 / 19 / 2009
(Published Since 1996)
...............................................
Dateline: 5:36 pm eastern time, 7/19/2009
The market had a good week, and the Nasdaq led the way with
its 8th straight up day on Friday. After the ES closed over
900 on Tuesday, the market gapped up big on Wednesday and by
Thursday afternoon the ES reached 940.75 before pulling
back. The Friday action was a 2 sided, narrow range day as
the averages chopped back and forth. The ES reached 938.75
before reversing, but the drop held at 932.75 and then the
market closed well to end the week.
The market had been very strong with good upside momentum.
The overbought status hasn't held the market back, which is
rare but a sign of a very strong market. Short term, the
market should be at/near a short term top. The market could
get volatile if things play out as it appears possible.
The ES traded in just a 7.75 point range on Friday, the
smallest range since a 7 point range on 5-30-2008. Low
volatility, or spinning its wheels it new high territory, is
usually reversed. On Monday the ES needs to stay over the
late Friday lows, or initial support, or the trends will
roll over short term.
On Monday the ES needs to get over the 940 area, and not
quickly reverse, to keep this melt-up going. If it does pop
through 940 and then reverse again, then a sharp drop could
begin. If there is a hold over the 940 level (like Thursday
afternoon's break/hold over 930) then a sprint towards the
952.50-953.25 is possible. IF that occurs, a reversal could
be very sharp when the move fizzles/reverses.
So, in the early going look for early strength that reverses
to set up a shorting opportunity. If that sets up, then the
first decent pullback would need to hold the initial support
areas to avoid rolling over. If the market opens lower
instead, and can reverse from the initial support areas, a
trade on the long side should set up. But don't overstay
your welcome if that occurs as another drop will be making
the 940 area a lid.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
940.00-940.75
943.50-944.50
952.50-953.25
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
933.00-932.75
925.25-924.75
919.50-919.00
912.50-911.75
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1532.25-1533.00
1536.75-1537.25
1544.50-1545.00
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1518.75-1508.00
1508.50-1507.50
1497.25-1496.50
1492.50-1491.25
September 2009 Dow futures resistance
symbols: emini = ymu9
8704-8708
8738-8740
8782-8787
September 2009 Dow futures support
symbols: emini = ymu9
8658-8654
8557-8552
8491-8488
8452-8448
---------------------------
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
7 / 19 / 2009
(Published Since 1996)
...............................................
Dateline: 5:36 pm eastern time, 7/19/2009
The market had a good week, and the Nasdaq led the way with
its 8th straight up day on Friday. After the ES closed over
900 on Tuesday, the market gapped up big on Wednesday and by
Thursday afternoon the ES reached 940.75 before pulling
back. The Friday action was a 2 sided, narrow range day as
the averages chopped back and forth. The ES reached 938.75
before reversing, but the drop held at 932.75 and then the
market closed well to end the week.
The market had been very strong with good upside momentum.
The overbought status hasn't held the market back, which is
rare but a sign of a very strong market. Short term, the
market should be at/near a short term top. The market could
get volatile if things play out as it appears possible.
The ES traded in just a 7.75 point range on Friday, the
smallest range since a 7 point range on 5-30-2008. Low
volatility, or spinning its wheels it new high territory, is
usually reversed. On Monday the ES needs to stay over the
late Friday lows, or initial support, or the trends will
roll over short term.
On Monday the ES needs to get over the 940 area, and not
quickly reverse, to keep this melt-up going. If it does pop
through 940 and then reverse again, then a sharp drop could
begin. If there is a hold over the 940 level (like Thursday
afternoon's break/hold over 930) then a sprint towards the
952.50-953.25 is possible. IF that occurs, a reversal could
be very sharp when the move fizzles/reverses.
So, in the early going look for early strength that reverses
to set up a shorting opportunity. If that sets up, then the
first decent pullback would need to hold the initial support
areas to avoid rolling over. If the market opens lower
instead, and can reverse from the initial support areas, a
trade on the long side should set up. But don't overstay
your welcome if that occurs as another drop will be making
the 940 area a lid.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
940.00-940.75
943.50-944.50
952.50-953.25
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
933.00-932.75
925.25-924.75
919.50-919.00
912.50-911.75
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1532.25-1533.00
1536.75-1537.25
1544.50-1545.00
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1518.75-1508.00
1508.50-1507.50
1497.25-1496.50
1492.50-1491.25
September 2009 Dow futures resistance
symbols: emini = ymu9
8704-8708
8738-8740
8782-8787
September 2009 Dow futures support
symbols: emini = ymu9
8658-8654
8557-8552
8491-8488
8452-8448
---------------------------
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.
*************************************************
Today's Trading Recap: 07/17/09
HOW OUR DAY WENT: The ES popped up to 937.00 and the
early strength was sold as the ES dropped to 931.00
and then reversed. The group was told that 938 was a
possible target/reversal area, and from 938.75 we also
got a double top/ 123 top setup. The ES fell to the
933.50-932.75 support then bounced into the close.
Good Trading,
Mike Reed
TradeStalker.com
early strength was sold as the ES dropped to 931.00
and then reversed. The group was told that 938 was a
possible target/reversal area, and from 938.75 we also
got a double top/ 123 top setup. The ES fell to the
933.50-932.75 support then bounced into the close.
Good Trading,
Mike Reed
TradeStalker.com
TradeStalker's RBI Update 07/16/09
.................................................
TradeStalker's
R.B.I. Trader's Update
7 / 16 / 2009
(Published Since 1996)
...............................................
Dateline: 6:11 pm eastern time, 7/16/2009
The early strength was sold on Thursday, then after going
sideways for most of the day the upside got in gear with 2
hours left in trading. The ES was able to hold over 930 on a
little pullback, and then rallied to a 940.75 high (just
under 941.75-942.25 resistance) with 15 minutes left in
stock trading. Similar to Tuesday, the late pullback came
from a round number on the ES and they settled well under
fair value.
It looks like the market is in a big trading range, and we
are close to the top side. The SP500 cash closed around the
spot where the last breakdown began in earnest. The
rejection is telling, as lots of supply must be up there.
The ES easily rejected the 940 level and closed poorly. If
the market would get back up to the 940 level again and
reverse, it would set up a very good shorting opportunity.
In fact, that looks like a short term top and there should
be a selloff on Friday. There will not be any damage done
bigger picture unless the ES breaks the 923.50-923.00 area
on Friday and can not quickly reverse. If the ES can hold
and reverse from the 933.50-932.75 area early on Friday,
then the market has a chance to keep its rally going. If
that area is not held, then a top is likely in place as a
test of that 923.50-923.00 area could then be in the cards.
A failure there would be bad news, and start a sizable leg
on the downside.
On Friday look to short a bounce if there is one in the
early going. Odds of a selloff from up here are pretty good,
and a pop up to the initial resistance area that
stalls/reverses would set up a pretty sharp drop. If the
market opens lower, then a reversal from the 933.50-932.75
area would need to occur to keep the trends from rolling
over.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
937.75
940.75-941.25
943.50-944.50
950.50-952.00
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
933.50-932.75
926.25-925.75
923.50-923.00
919.50-919.00
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1517.50
1520.25-1521.00
1524.75-1525.25
1532.50-1533.50
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1508.75-1508.75
1501.50-1500.50
1497.25-1496.50
1492.50-1491.25
September 2009 Dow futures resistance
symbols: emini = ymu9
8678
8691-8694
8726-8730
8782-8787
September 2009 Dow futures support
symbols: emini = ymu9
8630-8627
8557-8552
8531-8528
8485-8482
---------------------------
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
7 / 16 / 2009
(Published Since 1996)
...............................................
Dateline: 6:11 pm eastern time, 7/16/2009
The early strength was sold on Thursday, then after going
sideways for most of the day the upside got in gear with 2
hours left in trading. The ES was able to hold over 930 on a
little pullback, and then rallied to a 940.75 high (just
under 941.75-942.25 resistance) with 15 minutes left in
stock trading. Similar to Tuesday, the late pullback came
from a round number on the ES and they settled well under
fair value.
It looks like the market is in a big trading range, and we
are close to the top side. The SP500 cash closed around the
spot where the last breakdown began in earnest. The
rejection is telling, as lots of supply must be up there.
The ES easily rejected the 940 level and closed poorly. If
the market would get back up to the 940 level again and
reverse, it would set up a very good shorting opportunity.
In fact, that looks like a short term top and there should
be a selloff on Friday. There will not be any damage done
bigger picture unless the ES breaks the 923.50-923.00 area
on Friday and can not quickly reverse. If the ES can hold
and reverse from the 933.50-932.75 area early on Friday,
then the market has a chance to keep its rally going. If
that area is not held, then a top is likely in place as a
test of that 923.50-923.00 area could then be in the cards.
A failure there would be bad news, and start a sizable leg
on the downside.
On Friday look to short a bounce if there is one in the
early going. Odds of a selloff from up here are pretty good,
and a pop up to the initial resistance area that
stalls/reverses would set up a pretty sharp drop. If the
market opens lower, then a reversal from the 933.50-932.75
area would need to occur to keep the trends from rolling
over.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
937.75
940.75-941.25
943.50-944.50
950.50-952.00
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
933.50-932.75
926.25-925.75
923.50-923.00
919.50-919.00
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1517.50
1520.25-1521.00
1524.75-1525.25
1532.50-1533.50
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1508.75-1508.75
1501.50-1500.50
1497.25-1496.50
1492.50-1491.25
September 2009 Dow futures resistance
symbols: emini = ymu9
8678
8691-8694
8726-8730
8782-8787
September 2009 Dow futures support
symbols: emini = ymu9
8630-8627
8557-8552
8531-8528
8485-8482
---------------------------
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 07/15/09
.................................................
TradeStalker's
R.B.I. Trader's Update
7 / 15 / 2009
(Published Since 1996)
...............................................
Dateline: 7:31 pm eastern time, 7/15/2009
**Due to a family outing on Thursday, there will
not be any intraday updates on Thursday. If there
is a "rain out" then I will be here, but barring
that, the next update will be sent on Thursday
night.**
The ES gapped up 12.50 points on Wednesday and didn't stop
as the market traded in a steady grind higher throughout the
day until the last hour. After getting to 930.75, the ES
reversed back down through 930.00, and that set up the only
decent pullback for the day. The last update stated, "If the
move reaches the 930 level and reverses, it is a shorting
opportunity" and the ES fell to 926.00 before turning back
up. The ES reached 930.25 on the bounce and it was reversed
again as the futures sold off into settlement.
The market looks like it topped on Wednesday after reversing
the 930 level twice. Wednesday was also a strong trend day,
and they are usually not followed by another trend day. To
go with that, my internal gauges have reached extremely
overbought readings. The 3 day thrust is at +.88, one of the
most overbought readings I can remember on that indicator.
Also, my RBI oscillator is in a strong sell position. To go
with that, the Vix reversed on Wednesday and that has 3 of 5
possible sell signals in force. The closing Trin on
Wednesday was a minuscule .34. If the internals were
flipped, it would be like getting a closing Trin of 3.09 on
a big down day. Lastly, the NYSE breadth had more than 2000
advancing issues and less than 1000 declining issues for 3
straight days. Odds are heavily in favor of lower prices on
Thursday.
If you carried over shorts per the instant message room
update, we should be in good shape for the early going. For
now the market is a short as long as the 930 level on the ES
is broken and held. Look for shorting opportunities on the
bounces until the ES reaches the 920.00-919.50 area, where
the market will hold and start a decent bounce if it's not
falling apart.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
930.25-930.75
934.25-935.00
941.75-942.25
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
926.00-925.50
920.00-919.50
916.00-915.50
906.00-905.50
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1449.50-1500.25
1504.75-1505.25
1511.00-1512.00
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1494.75-1494.25
1485.00-1484.25
1479.50-1478.75
1470.25-1468.50
September 2009 Dow futures resistance
symbols: emini = ymu9
8573-8676
8706-8711
8731-8735
September 2009 Dow futures support
symbols: emini = ymu9
8539-8536
8455-8452
8430-8426
8369-8365
---------------------------
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
7 / 15 / 2009
(Published Since 1996)
...............................................
Dateline: 7:31 pm eastern time, 7/15/2009
**Due to a family outing on Thursday, there will
not be any intraday updates on Thursday. If there
is a "rain out" then I will be here, but barring
that, the next update will be sent on Thursday
night.**
The ES gapped up 12.50 points on Wednesday and didn't stop
as the market traded in a steady grind higher throughout the
day until the last hour. After getting to 930.75, the ES
reversed back down through 930.00, and that set up the only
decent pullback for the day. The last update stated, "If the
move reaches the 930 level and reverses, it is a shorting
opportunity" and the ES fell to 926.00 before turning back
up. The ES reached 930.25 on the bounce and it was reversed
again as the futures sold off into settlement.
The market looks like it topped on Wednesday after reversing
the 930 level twice. Wednesday was also a strong trend day,
and they are usually not followed by another trend day. To
go with that, my internal gauges have reached extremely
overbought readings. The 3 day thrust is at +.88, one of the
most overbought readings I can remember on that indicator.
Also, my RBI oscillator is in a strong sell position. To go
with that, the Vix reversed on Wednesday and that has 3 of 5
possible sell signals in force. The closing Trin on
Wednesday was a minuscule .34. If the internals were
flipped, it would be like getting a closing Trin of 3.09 on
a big down day. Lastly, the NYSE breadth had more than 2000
advancing issues and less than 1000 declining issues for 3
straight days. Odds are heavily in favor of lower prices on
Thursday.
If you carried over shorts per the instant message room
update, we should be in good shape for the early going. For
now the market is a short as long as the 930 level on the ES
is broken and held. Look for shorting opportunities on the
bounces until the ES reaches the 920.00-919.50 area, where
the market will hold and start a decent bounce if it's not
falling apart.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
930.25-930.75
934.25-935.00
941.75-942.25
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
926.00-925.50
920.00-919.50
916.00-915.50
906.00-905.50
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1449.50-1500.25
1504.75-1505.25
1511.00-1512.00
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1494.75-1494.25
1485.00-1484.25
1479.50-1478.75
1470.25-1468.50
September 2009 Dow futures resistance
symbols: emini = ymu9
8573-8676
8706-8711
8731-8735
September 2009 Dow futures support
symbols: emini = ymu9
8539-8536
8455-8452
8430-8426
8369-8365
---------------------------
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.
*************************************************
Today's Trading Recap: 07/15/09
HOW OUR DAY WENT: The ES gapped up 12.50 points on
Wednesday and didn't stop as the market traded in a
steady grind higher throughout the day until the last
hour. After getting to 930.75, the ES reversed back down
through 930.00, and that set up the only decent pullback
for the day. The last update stated "If the move reaches
the 930 level and reverses, it is a shorting opportunity"
and the ES fell to 926.00 before turning back up. The ES
reached 930.25 on the bounce and it was reversed again as
the futures sold off into settlement.
Good Trading,
Mike Reed
TradeStalker.com
Wednesday and didn't stop as the market traded in a
steady grind higher throughout the day until the last
hour. After getting to 930.75, the ES reversed back down
through 930.00, and that set up the only decent pullback
for the day. The last update stated "If the move reaches
the 930 level and reverses, it is a shorting opportunity"
and the ES fell to 926.00 before turning back up. The ES
reached 930.25 on the bounce and it was reversed again as
the futures sold off into settlement.
Good Trading,
Mike Reed
TradeStalker.com
TradeStalker's RBI Update 07/14/09
.................................................
TradeStalker's
R.B.I. Trader's Update
7 / 14 / 2009
(Published Since 1996)
...............................................
Dateline: 6:56 pm eastern time, 7/14/2009
We were looking to short early strength on Tuesday, and the
market opened higher and then reversed about 15 minutes into
trading. It was also noted that as long as the initial
support held on the first decent pullback it would set up a
buying opportunity. The initial support areas were at
891.50-890.75 on the ES, at 1438.00-1437.50 on the NQ and at
8230-8227 on the YM and the lows were made at 892.50 on the
ES, 1437.25 on the NQ and 8231 on the YM. Those areas were
all bought, and with the market holding the initial support
across the board, a good bounce followed. After reaching
902.00 around noon, the market pulled back but wouldn't
break. Buyers stepped back to the plate and took the market
to token higher highs by the close.
After the bell, earnings reports have the market up quite a
bit after hours. We get the CPI before stocks open, and then
at 2 pm we get the release of the Fed Minutes. The internal
gauges are getting short term overbought, and if the Vix
reverses it will give a number of sell signals. However, the
market has good momentum going on the upside and it will
take some doing to turn it back to the downside.
On Wednesday look for a shorting opportunity if the market
gaps up and then reverses within the first 20 minutes of
trading. If the market pulls back to test the Tuesday highs,
it should turn back up if the market is strong. If this is a
move that is reversed early, and doesn't get footing and
turn back up near the Tuesday highs, then a trend down day
could develop. If a pullback cannot hold at the 900.50-
899.75 area on the ES on Wednesday, then the market has
something wrong with it and the Wednesday highs could then
turn out to be a short to intermediate term top.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
908.75-909.25
912.00-912.75
917.25-918.00
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
903.50-903.00
900.50-899.75
896.50-896.00
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1466.50-1467.00
1473.50-1474.50
1478.75-1480.00
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1458.75-1458.25
1454.00-1453.25
1447.00-1446.25
September 2009 Dow futures resistance
symbols: emini = ymu9
8356-8360
8382-8386
8452-8458
September 2009 Dow futures support
symbols: emini = ymu9
8316-8312
8297-8293
8259-8255
---------------------------
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
7 / 14 / 2009
(Published Since 1996)
...............................................
Dateline: 6:56 pm eastern time, 7/14/2009
We were looking to short early strength on Tuesday, and the
market opened higher and then reversed about 15 minutes into
trading. It was also noted that as long as the initial
support held on the first decent pullback it would set up a
buying opportunity. The initial support areas were at
891.50-890.75 on the ES, at 1438.00-1437.50 on the NQ and at
8230-8227 on the YM and the lows were made at 892.50 on the
ES, 1437.25 on the NQ and 8231 on the YM. Those areas were
all bought, and with the market holding the initial support
across the board, a good bounce followed. After reaching
902.00 around noon, the market pulled back but wouldn't
break. Buyers stepped back to the plate and took the market
to token higher highs by the close.
After the bell, earnings reports have the market up quite a
bit after hours. We get the CPI before stocks open, and then
at 2 pm we get the release of the Fed Minutes. The internal
gauges are getting short term overbought, and if the Vix
reverses it will give a number of sell signals. However, the
market has good momentum going on the upside and it will
take some doing to turn it back to the downside.
On Wednesday look for a shorting opportunity if the market
gaps up and then reverses within the first 20 minutes of
trading. If the market pulls back to test the Tuesday highs,
it should turn back up if the market is strong. If this is a
move that is reversed early, and doesn't get footing and
turn back up near the Tuesday highs, then a trend down day
could develop. If a pullback cannot hold at the 900.50-
899.75 area on the ES on Wednesday, then the market has
something wrong with it and the Wednesday highs could then
turn out to be a short to intermediate term top.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
908.75-909.25
912.00-912.75
917.25-918.00
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
903.50-903.00
900.50-899.75
896.50-896.00
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1466.50-1467.00
1473.50-1474.50
1478.75-1480.00
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1458.75-1458.25
1454.00-1453.25
1447.00-1446.25
September 2009 Dow futures resistance
symbols: emini = ymu9
8356-8360
8382-8386
8452-8458
September 2009 Dow futures support
symbols: emini = ymu9
8316-8312
8297-8293
8259-8255
---------------------------
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.
*************************************************
Today's Trading Recap: 07/14/09
HOW OUR DAY WENT: We came in to Tuesday expecting a
two-sided day. Got that. We were shorting early strength
and the ES popped up and reversed from just over 901
in the first 20 minutes of trading. We were also aware
that the 891.50-890.75 area on the ES was good/key support
and wanted to be a buyer if a pullback held/reversed from
down there. The ES went to 892.50 and quickly reversed...
time to reverse from short to long. The rally made a
double top, and in our IM room I alerted members of a
drop off of 902.00 and the ES fell to 897.75 before
a bounce. That was the end to our trading day, as the
market churned into the close for stocks on Tuesday.
Good Trading,
Mike Reed
two-sided day. Got that. We were shorting early strength
and the ES popped up and reversed from just over 901
in the first 20 minutes of trading. We were also aware
that the 891.50-890.75 area on the ES was good/key support
and wanted to be a buyer if a pullback held/reversed from
down there. The ES went to 892.50 and quickly reversed...
time to reverse from short to long. The rally made a
double top, and in our IM room I alerted members of a
drop off of 902.00 and the ES fell to 897.75 before
a bounce. That was the end to our trading day, as the
market churned into the close for stocks on Tuesday.
Good Trading,
Mike Reed
TradeStalker's RBI Update 07/13/09
.................................................
TradeStalker's
R.B.I. Trader's Update
7 / 13 / 2009
(Published Since 1996)
...............................................
Dateline: 6:36 pm eastern time, 7/13/2009
The market opened higher on Monday, but the move was sold
and gathered steam when 880 on the ES was cut through. The
drop took the ES to 871.25, just under the 872.50-872.00
support, then reversed back to the upside. The ES got over
the 880 level, and then held it on a pullback, and then the
ES shot up to 891.25. The move stalled, but the pullback
held above the 888.00 level and went trend-up until stocks
closed. The futures backed off and settled under fair value.
We get the PPI and Retail Sales before the open on Tuesday.
It's also earnings release time for the market. The averages
are in short term uptrends that have had a good tone for the
past couple of trading days. However, with Monday being a
trend day and with my RBI oscillator reaching sell
territory, the market should have some trouble making much
progress on the upside. Odds would be better for some two-
sided trading on Tuesday. At the moment, the market looks
like it will be in decent shape unless the 891.50-890.75
area on the ES is broken and not quickly reversed. If that
area is broken and the market doesn't snap right back, then
the trends could roll back over to the downside.
On Tuesday look to get short if there is early strength and
the move fizzles/reverses from the initial resistance areas.
If that plays out and a pullback can hold the initial
support areas, then that should set up a trade on the long
side. If the volatility picks up, then beware if there is a
sizable move in either direction, as the move likely will
reverse and retrace 1/3 or more of the prior run up or
selloff.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
897.50-898.00
903.50-904.25
908.00-908.50
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
891.50-890.75
888.00-887.50
884.25-883.75
878.50-877.75
872.25-872.00
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1446.75-1447.25
1453.00-1454.50
1458.75-1459.75
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1438.00-1437.50
1433.50-1433.00
1427.50-1426.50
1419.25-1418.50
1400.50-1399.50
September 2009 Dow futures resistance
symbols: emini = ymu9
8278-8283
8335-8339
8374-8378
September 2009 Dow futures support
symbols: emini = ymu9
8230-8227
8209-8206
8184-8180
8135-8131
8082-8077
---------------------------
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
7 / 13 / 2009
(Published Since 1996)
...............................................
Dateline: 6:36 pm eastern time, 7/13/2009
The market opened higher on Monday, but the move was sold
and gathered steam when 880 on the ES was cut through. The
drop took the ES to 871.25, just under the 872.50-872.00
support, then reversed back to the upside. The ES got over
the 880 level, and then held it on a pullback, and then the
ES shot up to 891.25. The move stalled, but the pullback
held above the 888.00 level and went trend-up until stocks
closed. The futures backed off and settled under fair value.
We get the PPI and Retail Sales before the open on Tuesday.
It's also earnings release time for the market. The averages
are in short term uptrends that have had a good tone for the
past couple of trading days. However, with Monday being a
trend day and with my RBI oscillator reaching sell
territory, the market should have some trouble making much
progress on the upside. Odds would be better for some two-
sided trading on Tuesday. At the moment, the market looks
like it will be in decent shape unless the 891.50-890.75
area on the ES is broken and not quickly reversed. If that
area is broken and the market doesn't snap right back, then
the trends could roll back over to the downside.
On Tuesday look to get short if there is early strength and
the move fizzles/reverses from the initial resistance areas.
If that plays out and a pullback can hold the initial
support areas, then that should set up a trade on the long
side. If the volatility picks up, then beware if there is a
sizable move in either direction, as the move likely will
reverse and retrace 1/3 or more of the prior run up or
selloff.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
897.50-898.00
903.50-904.25
908.00-908.50
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
891.50-890.75
888.00-887.50
884.25-883.75
878.50-877.75
872.25-872.00
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1446.75-1447.25
1453.00-1454.50
1458.75-1459.75
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1438.00-1437.50
1433.50-1433.00
1427.50-1426.50
1419.25-1418.50
1400.50-1399.50
September 2009 Dow futures resistance
symbols: emini = ymu9
8278-8283
8335-8339
8374-8378
September 2009 Dow futures support
symbols: emini = ymu9
8230-8227
8209-8206
8184-8180
8135-8131
8082-8077
---------------------------
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.
*************************************************
Sunday, July 12, 2009
TradeStalker's RBI Update 07/12/09
.................................................
TradeStalker's
R.B.I. Trader's Update
7 / 12 / 2009
(Published Since 1996)
...............................................
Dateline: 5:46 pm eastern time, 7/12/2009
Friday gave us several nice opportunities in both
directions. The ES opened down 6.50 points and at the
872.25-871.00 support zone. We got a nice bounce from 872.00
to the 880.25 level, which reversed and gave another drop.
The ES reached 872.50 and reversed back up but after getting
to the 879.00 level, the move stalled and reversed back to
the downside. The drop took the ES to a lower low at 868.75
and then the market started a labored move higher. The ES
made it to 876.75, the middle of the updated 876.50-877.00
area, then fell to the updated/key 872.00 level. That set up
a scalp long that reached 875.00 before backing off. That
872 level was a floor then for a run up to 877.75 and then
the market backed off into the close.
The market has basically gone sideways for 3 days, with the
action being contained mostly between 870 on the bottom and
880 on top. For now it looks like the 872.25-872.00 area
will need to hold to avoid a drop that tests or takes out
last week's lows. The market action has not been very good
with exception of the early Friday action. If this narrow
range action down here is just working off the oversold
status, then we can see that 852-846 zone soon.
On the other side of the coin, if Friday's action was basing
over the 872 level and keeping the market from falling
apart, then we should see a good rally right from the open
on Monday. If that occurs and the market is strong, then the
move should not have trouble getting over the 880 level and
holding. If there is another failure to break and hold over
the 880 level, the reversal could be a sharp one. However, a
rally that sticks should test the old 888.25-889.00 area
before a reversal begins.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
878.00
882.50-883.50
888.25-889.00
892.50-893.00
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
872.25-872.00
869.00-868.75
862.25-861.50
858.50-858.00
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1420.25
1426.25-1426.50
1431.25-1432.00
1438.25-1439.00
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1413.50-1412.50
1409.50-1408.50
1402.50-1401.50
1395.50-1394.50
September 2009 Dow futures resistance
symbols: emini = ymu9
8113
8171-8174
8221-8226
8259-8263
September 2009 Dow futures support
symbols: emini = ymu9
8059-8056
8045-8043
7997-7993
7944-7941
CLICK HERE for FREE Trading Articles and Videos!
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
7 / 12 / 2009
(Published Since 1996)
...............................................
Dateline: 5:46 pm eastern time, 7/12/2009
Friday gave us several nice opportunities in both
directions. The ES opened down 6.50 points and at the
872.25-871.00 support zone. We got a nice bounce from 872.00
to the 880.25 level, which reversed and gave another drop.
The ES reached 872.50 and reversed back up but after getting
to the 879.00 level, the move stalled and reversed back to
the downside. The drop took the ES to a lower low at 868.75
and then the market started a labored move higher. The ES
made it to 876.75, the middle of the updated 876.50-877.00
area, then fell to the updated/key 872.00 level. That set up
a scalp long that reached 875.00 before backing off. That
872 level was a floor then for a run up to 877.75 and then
the market backed off into the close.
The market has basically gone sideways for 3 days, with the
action being contained mostly between 870 on the bottom and
880 on top. For now it looks like the 872.25-872.00 area
will need to hold to avoid a drop that tests or takes out
last week's lows. The market action has not been very good
with exception of the early Friday action. If this narrow
range action down here is just working off the oversold
status, then we can see that 852-846 zone soon.
On the other side of the coin, if Friday's action was basing
over the 872 level and keeping the market from falling
apart, then we should see a good rally right from the open
on Monday. If that occurs and the market is strong, then the
move should not have trouble getting over the 880 level and
holding. If there is another failure to break and hold over
the 880 level, the reversal could be a sharp one. However, a
rally that sticks should test the old 888.25-889.00 area
before a reversal begins.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
878.00
882.50-883.50
888.25-889.00
892.50-893.00
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
872.25-872.00
869.00-868.75
862.25-861.50
858.50-858.00
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1420.25
1426.25-1426.50
1431.25-1432.00
1438.25-1439.00
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1413.50-1412.50
1409.50-1408.50
1402.50-1401.50
1395.50-1394.50
September 2009 Dow futures resistance
symbols: emini = ymu9
8113
8171-8174
8221-8226
8259-8263
September 2009 Dow futures support
symbols: emini = ymu9
8059-8056
8045-8043
7997-7993
7944-7941
CLICK HERE for FREE Trading Articles and Videos!
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.
*************************************************
Today's Trading Recap: 07/10/09
HOW OUR DAY WENT: The ES opened down 6.50 points and
at the 872.25-871.00 support zone. We got 2 bounces from
that area, but the 880 level was reversed and gave
another drop. The rally back stalled and reversed from
876.75, the middle of the updated the 876.50-877.00 area,
then fell to the updated/key 872.00 level. That set up
a scalp long that reached 875.00 before backing off.
A break/hold gives a bad close.
Good Trading,
Mike Reed
TradeStalker.com
at the 872.25-871.00 support zone. We got 2 bounces from
that area, but the 880 level was reversed and gave
another drop. The rally back stalled and reversed from
876.75, the middle of the updated the 876.50-877.00 area,
then fell to the updated/key 872.00 level. That set up
a scalp long that reached 875.00 before backing off.
A break/hold gives a bad close.
Good Trading,
Mike Reed
TradeStalker.com
TradeStalker's RBI Update 07/09/09
.................................................
TradeStalker's
R.B.I. Trader's Update
7 / 9 / 2009
(Published Since 1996)
...............................................
Dateline: 7:16 pm eastern time, 7/9/2009
We were shorting early strength, then taking cover and
getting long on the first decent pullback. The ES popped up
on the open and reversed from 882.25, just under the 882.75-
883.50 resistance zone. The ES dropped 6.50 points to 875.75
before a stall/ reversal came from. After that, the market
chopped its way higher until there were 90 minutes left in
stock trading. Then off of the 884.50 high the ES made a
little 1-2-3 top and fell to 876.75 before bouncing. The
bounce didn't stick and the ES fell from 880.75 to retest
876.75 and then firmed into the close.
The market is still short term oversold, and it did try to
base out for another bounce at Thursday's close. However, it
doesn't look like there is a whole lot of upside potential
from here just yet. If the market slips under the initial
support areas and cannot quickly reverse back to the upside,
then a drop back to the 872 area would be the next support
area that would need to hold to avoid a bad end to the week.
On the other side of the coin, if the late Thursday lows
were little double bottoms that are setting up a rally, they
will not be broken and a rally will start early. If that
occurs, then beware that a rally will likely fail and
reverse as soon as the upside fizzles out. A turn from a
resistance area would set up a good short if that
stall/reversal occurs. If the market has a good day, the ES
could revisit the 888.25-889.00 area and possibly make it to
the 892.50-893.00 area before the move is reversed.
So it looks like the market will be "okay" as long as the
initial support holds, or is quickly reversed if broken. If
the market opens lower, but turns up from initial support,
it should set up a trade on the long side. If the market
rallies early, beware that there are plenty of "trapped"
longs that would welcome good strength to sell into.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
879.00-879.50
884.00-884.50
888.25-889.00
892.50-893.00
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
877.00-876.50
872.25-871.00
865.00-864.50
858.50-858.00
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1414.50-1415.00
1420.75-1421.50
1424.25-1425.00
1428.25-1429.00
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1409.50-1409.00
1402.50-1401.50
1395.50-1394.50
1386.75-1386.00
September 2009 Dow futures resistance
symbols: emini = ymu9
8132-8136
8178-8182
8221-8226
8259-8263
September 2009 Dow futures support
symbols: emini = ymu9
8111-8108
8080-8076
8039-8035
7981-7977
---------------------------
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
7 / 9 / 2009
(Published Since 1996)
...............................................
Dateline: 7:16 pm eastern time, 7/9/2009
We were shorting early strength, then taking cover and
getting long on the first decent pullback. The ES popped up
on the open and reversed from 882.25, just under the 882.75-
883.50 resistance zone. The ES dropped 6.50 points to 875.75
before a stall/ reversal came from. After that, the market
chopped its way higher until there were 90 minutes left in
stock trading. Then off of the 884.50 high the ES made a
little 1-2-3 top and fell to 876.75 before bouncing. The
bounce didn't stick and the ES fell from 880.75 to retest
876.75 and then firmed into the close.
The market is still short term oversold, and it did try to
base out for another bounce at Thursday's close. However, it
doesn't look like there is a whole lot of upside potential
from here just yet. If the market slips under the initial
support areas and cannot quickly reverse back to the upside,
then a drop back to the 872 area would be the next support
area that would need to hold to avoid a bad end to the week.
On the other side of the coin, if the late Thursday lows
were little double bottoms that are setting up a rally, they
will not be broken and a rally will start early. If that
occurs, then beware that a rally will likely fail and
reverse as soon as the upside fizzles out. A turn from a
resistance area would set up a good short if that
stall/reversal occurs. If the market has a good day, the ES
could revisit the 888.25-889.00 area and possibly make it to
the 892.50-893.00 area before the move is reversed.
So it looks like the market will be "okay" as long as the
initial support holds, or is quickly reversed if broken. If
the market opens lower, but turns up from initial support,
it should set up a trade on the long side. If the market
rallies early, beware that there are plenty of "trapped"
longs that would welcome good strength to sell into.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
879.00-879.50
884.00-884.50
888.25-889.00
892.50-893.00
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
877.00-876.50
872.25-871.00
865.00-864.50
858.50-858.00
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1414.50-1415.00
1420.75-1421.50
1424.25-1425.00
1428.25-1429.00
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1409.50-1409.00
1402.50-1401.50
1395.50-1394.50
1386.75-1386.00
September 2009 Dow futures resistance
symbols: emini = ymu9
8132-8136
8178-8182
8221-8226
8259-8263
September 2009 Dow futures support
symbols: emini = ymu9
8111-8108
8080-8076
8039-8035
7981-7977
---------------------------
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.
*************************************************
Today's Trading Recap: 07/09/09
HOW OUR DAY WENT: We were shorting early strength, then
taking cover and getting long on the first decent pullback.
The ES popped up on the open and reversed from 882.25,
just under the 882.75-883.50 resistance zone. The ES
dropped 6.50 points to 875.75 before a stall/ reversal
came from. After that good start, we went to trading both
sides and were buying dips to the 60ema on the 5 minute
chart, then selling the pop when it stalled. Then off of
the 884.50 high the ES made a little 123 top (the entry
trigger the break of 882.50) and fell to 876.75 before
bouncing. That was sold per the last intraday update and
the ES dropped 4 points to match the 3:38 pm low just
before the close.
Good Trading,
Mike Reed
TradeStalker.com
taking cover and getting long on the first decent pullback.
The ES popped up on the open and reversed from 882.25,
just under the 882.75-883.50 resistance zone. The ES
dropped 6.50 points to 875.75 before a stall/ reversal
came from. After that good start, we went to trading both
sides and were buying dips to the 60ema on the 5 minute
chart, then selling the pop when it stalled. Then off of
the 884.50 high the ES made a little 123 top (the entry
trigger the break of 882.50) and fell to 876.75 before
bouncing. That was sold per the last intraday update and
the ES dropped 4 points to match the 3:38 pm low just
before the close.
Good Trading,
Mike Reed
TradeStalker.com
Wednesday, July 08, 2009
TradeStalker's RBI Update 07/08/09
.................................................
TradeStalker's
R.B.I. Trader's Update
7 / 8 / 2009
(Published Since 1996)
...............................................
Dateline: 7:16 pm eastern time, 7/8/2009
We got our 2 sided action on Wednesday. The ES bounced in
the early going but the move fizzled/reversed after barely
poking over the 882.75-883.00 initial resistance zone, as
did the NQ and YM. With initial resistance areas rejected
across the board, it set up a very good shorting
opportunity. The drop took the ES to 866.25, just over the
865.00-864.50 support zone, and then reversed. That bounce
failed at 874.00, coinciding with the 60ema on the 5 minute
chart, and then fell to 865.25, just 1 tick over support and
then reversed again. The ES rallied to 879.00 before backing
off into the close. So, we got our 2 sided action, and had
the high and low were both within .50 of a
resistance/support zone.
The market held together on Wednesday, as there was a pretty
good bid on the ES at the 866-865 area on two drops. In
addition, the market is a bit more oversold despite chopping
around on Wednesday. The Vix gave 2 of 5 possible buy
signals as it jumped and then closed the day near its low.
Along with the oversold internal gauges and a shift in
market sentiment, the price patterns were short term bullish
on Wednesday. The 865.00-864.50 support zone held, staving
off a trip towards the 852-846 area for now.
The market has some things going for it, but don't count on
a trend-up day on Thursday. Buying pullbacks that
stall/reverse from above the Wednesday lows should be the
better odds trade until the market puts together a decent
45-60 minute bounce and it fizzles. There should be several
tradable moves both ways. Look for early strength to set up
a shorting opportunity early on Thursday. If that plays out,
then a pullback that can hold around the 872.25-871.50 area
on the ES and turn up should set up a trade on the long side
in the first hour or so.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
879.00
882.75-883.50
888.25-889.00
892.50-893.00
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
872.25-871.50
865.00-864.50
858.50-858.00
852-846 {band on SP500 Cash}
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1414.50
1416.00-1416.75
1419.75-1420.50
1424.25-1425.00
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1402.50-1401.50
1395.50-1394.50
1386.75-1386.00
September 2009 Dow futures resistance
symbols: emini = ymu9
8155
8166-8170
8221-8226
8255-8259
September 2009 Dow futures support
symbols: emini = ymu9
8104-8100
8039-8035
7981-7977
CLICK HERE for FREE Trading Articles and Videos!
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
7 / 8 / 2009
(Published Since 1996)
...............................................
Dateline: 7:16 pm eastern time, 7/8/2009
We got our 2 sided action on Wednesday. The ES bounced in
the early going but the move fizzled/reversed after barely
poking over the 882.75-883.00 initial resistance zone, as
did the NQ and YM. With initial resistance areas rejected
across the board, it set up a very good shorting
opportunity. The drop took the ES to 866.25, just over the
865.00-864.50 support zone, and then reversed. That bounce
failed at 874.00, coinciding with the 60ema on the 5 minute
chart, and then fell to 865.25, just 1 tick over support and
then reversed again. The ES rallied to 879.00 before backing
off into the close. So, we got our 2 sided action, and had
the high and low were both within .50 of a
resistance/support zone.
The market held together on Wednesday, as there was a pretty
good bid on the ES at the 866-865 area on two drops. In
addition, the market is a bit more oversold despite chopping
around on Wednesday. The Vix gave 2 of 5 possible buy
signals as it jumped and then closed the day near its low.
Along with the oversold internal gauges and a shift in
market sentiment, the price patterns were short term bullish
on Wednesday. The 865.00-864.50 support zone held, staving
off a trip towards the 852-846 area for now.
The market has some things going for it, but don't count on
a trend-up day on Thursday. Buying pullbacks that
stall/reverse from above the Wednesday lows should be the
better odds trade until the market puts together a decent
45-60 minute bounce and it fizzles. There should be several
tradable moves both ways. Look for early strength to set up
a shorting opportunity early on Thursday. If that plays out,
then a pullback that can hold around the 872.25-871.50 area
on the ES and turn up should set up a trade on the long side
in the first hour or so.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
879.00
882.75-883.50
888.25-889.00
892.50-893.00
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
872.25-871.50
865.00-864.50
858.50-858.00
852-846 {band on SP500 Cash}
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1414.50
1416.00-1416.75
1419.75-1420.50
1424.25-1425.00
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1402.50-1401.50
1395.50-1394.50
1386.75-1386.00
September 2009 Dow futures resistance
symbols: emini = ymu9
8155
8166-8170
8221-8226
8255-8259
September 2009 Dow futures support
symbols: emini = ymu9
8104-8100
8039-8035
7981-7977
CLICK HERE for FREE Trading Articles and Videos!
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.
*************************************************
Today's Trading Recap: 07/08/09
HOW OUR DAY WENT: The ES bounced in the esrly going but
the move fizzled/reversed after barely poking over
the 882.75-883.00 initial resistance zone, as did the
NQ and YM. With initial resistance areas rejected across
the board, it set up a very good shorting opportunity.
The drop took the ES to 866.25, just over the 865.00-
864.50 support, and reversed. That bounce failed at the
60ema and then fell to 865.25, just 1 tick over support
and then reversed off of that area and rallied 13.75
points to 879.00 before backing off into the close. So,
we got our 2 sided action, and had the high and low were
both within .50 of a resistance/support zone
Good Trading,
Mike Reed
TradeStalker.com
the move fizzled/reversed after barely poking over
the 882.75-883.00 initial resistance zone, as did the
NQ and YM. With initial resistance areas rejected across
the board, it set up a very good shorting opportunity.
The drop took the ES to 866.25, just over the 865.00-
864.50 support, and reversed. That bounce failed at the
60ema and then fell to 865.25, just 1 tick over support
and then reversed off of that area and rallied 13.75
points to 879.00 before backing off into the close. So,
we got our 2 sided action, and had the high and low were
both within .50 of a resistance/support zone
Good Trading,
Mike Reed
TradeStalker.com
Tuesday, July 07, 2009
TradeStalker's RBI Update 07/07/09
.................................................
TradeStalker's
R.B.I. Trader's Update
7 / 7 / 2009
(Published Since 1996)
...............................................
Dateline: 6:56 pm eastern time, 7/7/2009
The market opened lower on Tuesday, and kept falling in
trend down action until reaching 882.25 on the ES. The
reversal off of the 882.50-881.50 key support took the ES up
to 888.25, just under the 888.50-889.50 updated resistance
area, and the market backed off once again. The 882.50-
881.50 zone was cut through as the downside picked up some
steam, and after a bounce off of the 878.75-877.75 zone
fizzled, the ES went to 875.25 and then bounced back a bit
into the close.
We had a trend day on Tuesday, with the ES making its high
in the first 5 minutes of stock trading and making its low
with 5 minutes left in stock trading. The trends and
momentum are with the bears at the moment, and it looks like
lower prices are likely coming soon. However, back to back
trend days are not real common so we should expect swings
both ways on Wednesday. The market is also short term
oversold, and the Vix gave a small buy signal at Tuesday's
close.
It looks like to put a dent in the downside momentum, the
888.25-889.00 area on the ES will need to be exceeded, and
then not quickly reversed. The market is vulnerable still
unless that area taken out. If the market didn't make a low
in the final minutes of Tuesday action, then the ES will
need to get turned back up from the 872.25-871.00 area,
otherwise we could see the downside accelerate.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
882.75-883.00
888.25-889.00
892.25
896.00-896.50
900.50-901.00
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
876.00-875.50
872.25-871.00
865.00-864.50
852-846 {band on SP500 Cash}
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1413.00-1413.75
1419.75-1420.50
1424.50
1432.25-1434.00
1440.00-1441.00
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1402.00-1401.00
1396.50-1395.50
1380.50-1379.50
September 2009 Dow futures resistance
symbols: emini = ymu9
8156-8160
8193-8199
8234
8283-8289
8329-8334
September 2009 Dow futures support
symbols: emini = ymu9
8089-8085
8057-8052
7987-7983
CLICK HERE for FREE Trading Articles and Videos!
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
7 / 7 / 2009
(Published Since 1996)
...............................................
Dateline: 6:56 pm eastern time, 7/7/2009
The market opened lower on Tuesday, and kept falling in
trend down action until reaching 882.25 on the ES. The
reversal off of the 882.50-881.50 key support took the ES up
to 888.25, just under the 888.50-889.50 updated resistance
area, and the market backed off once again. The 882.50-
881.50 zone was cut through as the downside picked up some
steam, and after a bounce off of the 878.75-877.75 zone
fizzled, the ES went to 875.25 and then bounced back a bit
into the close.
We had a trend day on Tuesday, with the ES making its high
in the first 5 minutes of stock trading and making its low
with 5 minutes left in stock trading. The trends and
momentum are with the bears at the moment, and it looks like
lower prices are likely coming soon. However, back to back
trend days are not real common so we should expect swings
both ways on Wednesday. The market is also short term
oversold, and the Vix gave a small buy signal at Tuesday's
close.
It looks like to put a dent in the downside momentum, the
888.25-889.00 area on the ES will need to be exceeded, and
then not quickly reversed. The market is vulnerable still
unless that area taken out. If the market didn't make a low
in the final minutes of Tuesday action, then the ES will
need to get turned back up from the 872.25-871.00 area,
otherwise we could see the downside accelerate.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
882.75-883.00
888.25-889.00
892.25
896.00-896.50
900.50-901.00
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
876.00-875.50
872.25-871.00
865.00-864.50
852-846 {band on SP500 Cash}
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1413.00-1413.75
1419.75-1420.50
1424.50
1432.25-1434.00
1440.00-1441.00
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1402.00-1401.00
1396.50-1395.50
1380.50-1379.50
September 2009 Dow futures resistance
symbols: emini = ymu9
8156-8160
8193-8199
8234
8283-8289
8329-8334
September 2009 Dow futures support
symbols: emini = ymu9
8089-8085
8057-8052
7987-7983
CLICK HERE for FREE Trading Articles and Videos!
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.
*************************************************
Today's Trading Recap: 07/07/09
HOW OUR DAY WENT: The ES broke the 891.75-891.25 zone
in the first 5 minutes and that put the pressure on. The
ES fell to 882.25, at the 882.50-881.50 key support, then
bounced in labored fashion. The ES reversed from 888.25,
just 1 tick under the 888.50-889.50 updated resistance
area, then fell to the 878.00 level. That was right at
the last support areas listed last night, the 878.75-
877.75 zone, where the market firmed up and bounced but
but the ES then dropped to make its low with 5 minutes
left as member were told was a possibility.
Good Trading,
Mike Reed
TradeStalker.com
in the first 5 minutes and that put the pressure on. The
ES fell to 882.25, at the 882.50-881.50 key support, then
bounced in labored fashion. The ES reversed from 888.25,
just 1 tick under the 888.50-889.50 updated resistance
area, then fell to the 878.00 level. That was right at
the last support areas listed last night, the 878.75-
877.75 zone, where the market firmed up and bounced but
but the ES then dropped to make its low with 5 minutes
left as member were told was a possibility.
Good Trading,
Mike Reed
TradeStalker.com
TradeStalker's RBI Update 07/06/09
.................................................
TradeStalker's
R.B.I. Trader's Update
7 / 06 / 2009
(Published Since 1996)
...............................................
Dateline: 6:43 pm eastern time, 7/06/2009
The early weakness was reversed on Monday, but the bounce
fizzled and reversed after just missing closing the gap on
the daily chart. That set up a shorting opportunity, and the
ES tumbled from 892.00 to 882.00 before the bleeding
stopped. That was right at our second support zone at
882.50-881.50 on the ES, and was a great spot to cover
shorts and after reversing it was time to begin nibbling on
the long side with a tight stop. The ES rallied to 888.00,
then pulled back to updated support at 895.00 before turning
back up. The run-up tested the 892.00 high for the day, but
after making a little double top, the pullback held the 888
updated support and then went range-bound going into the
last hour. With 30 minutes left, the ES dropped to 887.25
and quickly reversed, bringing in buying and short covering,
as the blue chips rallied to new highs for the day in the
last 5 minutes of trading.
The ES fell to a key support on Monday, and was able avoid a
late spill by reversing and rallying back to the initial
resistance zone. Both the highs and lows from Monday's last
45 minutes of futures trading should be important. A drop
back to the 887.50-887.00 area would need to quickly
reverse, otherwise the end of day rebound back to the
896.25-896.75 resistance was forced buying, and not a solid
rally that was able to stick.
On Tuesday we get the Initial Claims before the open. Look
for early strength to reverse in the first 20-40 minutes to
set up a shorting opportunity. If that plays out, the first
pullback needs to hold at the initial support areas. If that
occurs, then the upside should still be intact for more to
go on the upside. If those areas are not held, then the
887.50-887.00 area on the ES would need to be quickly
reversed if tested, otherwise a test and possible break of
the Monday lows could be in the cards.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
896.25-896.75
900.25-901.25
905.75-906.50
908.25-909.50
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
891.75-891.25
887.50-887.00
882.50-881.50
878.50-877.50
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1441.50-1442.75
1448.75-1449.25
1454.50-1455.25
1461.50-1462.50
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1437.00-1436.25
1430.75-1430.00
1422.50-1421.25
1414.50-1413.50
September 2009 Dow futures resistance
symbols: emini = ymu9
8283-8289
8329-833
8374-8379
8397-8404
September 2009 Dow futures support
symbols: emini = ymu9
8241-8239
8214-8210
8149-8144
8127-8123
---------------------------
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
7 / 06 / 2009
(Published Since 1996)
...............................................
Dateline: 6:43 pm eastern time, 7/06/2009
The early weakness was reversed on Monday, but the bounce
fizzled and reversed after just missing closing the gap on
the daily chart. That set up a shorting opportunity, and the
ES tumbled from 892.00 to 882.00 before the bleeding
stopped. That was right at our second support zone at
882.50-881.50 on the ES, and was a great spot to cover
shorts and after reversing it was time to begin nibbling on
the long side with a tight stop. The ES rallied to 888.00,
then pulled back to updated support at 895.00 before turning
back up. The run-up tested the 892.00 high for the day, but
after making a little double top, the pullback held the 888
updated support and then went range-bound going into the
last hour. With 30 minutes left, the ES dropped to 887.25
and quickly reversed, bringing in buying and short covering,
as the blue chips rallied to new highs for the day in the
last 5 minutes of trading.
The ES fell to a key support on Monday, and was able avoid a
late spill by reversing and rallying back to the initial
resistance zone. Both the highs and lows from Monday's last
45 minutes of futures trading should be important. A drop
back to the 887.50-887.00 area would need to quickly
reverse, otherwise the end of day rebound back to the
896.25-896.75 resistance was forced buying, and not a solid
rally that was able to stick.
On Tuesday we get the Initial Claims before the open. Look
for early strength to reverse in the first 20-40 minutes to
set up a shorting opportunity. If that plays out, the first
pullback needs to hold at the initial support areas. If that
occurs, then the upside should still be intact for more to
go on the upside. If those areas are not held, then the
887.50-887.00 area on the ES would need to be quickly
reversed if tested, otherwise a test and possible break of
the Monday lows could be in the cards.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
896.25-896.75
900.25-901.25
905.75-906.50
908.25-909.50
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
891.75-891.25
887.50-887.00
882.50-881.50
878.50-877.50
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1441.50-1442.75
1448.75-1449.25
1454.50-1455.25
1461.50-1462.50
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1437.00-1436.25
1430.75-1430.00
1422.50-1421.25
1414.50-1413.50
September 2009 Dow futures resistance
symbols: emini = ymu9
8283-8289
8329-833
8374-8379
8397-8404
September 2009 Dow futures support
symbols: emini = ymu9
8241-8239
8214-8210
8149-8144
8127-8123
---------------------------
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.
*************************************************
Today's Trading Recap: 07/06/09
HOW OUR DAY WENT: The early weakness was reversed, but
the bounce fizzled and reversed after just missing closing
the gap on the daily chart. That set up a short for our
group, and the ES tumbled from 892.00 to 882.00 before the
bleeding stopped. That was right at our second support
zone at 882.50-881.50 on the ES. That was a great spot to
cover shorts, and begin to nibble on the long side with a
tight stop. The ES rallied to 888.00, then pulled back to
updated support at 895.00 before turning up and testing
the 892.00 high for the day. After nailing that test of
the high, the pullback held the 888 updated support and
then went range-bound going into the last hour, playing
ping-pong between resistance and support.
Good Trading,
Mike Reed
TradeStalker.com
the bounce fizzled and reversed after just missing closing
the gap on the daily chart. That set up a short for our
group, and the ES tumbled from 892.00 to 882.00 before the
bleeding stopped. That was right at our second support
zone at 882.50-881.50 on the ES. That was a great spot to
cover shorts, and begin to nibble on the long side with a
tight stop. The ES rallied to 888.00, then pulled back to
updated support at 895.00 before turning up and testing
the 892.00 high for the day. After nailing that test of
the high, the pullback held the 888 updated support and
then went range-bound going into the last hour, playing
ping-pong between resistance and support.
Good Trading,
Mike Reed
TradeStalker.com
Sunday, July 05, 2009
TradeStalker's RBI Update 07/05/09
.................................................
TradeStalker's
R.B.I. Trader's Update
7 / 05 / 2009
(Published Since 1996)
...............................................
Dateline: 5:33 pm eastern time, 7/05/2009
The market was vulnerable coming into Thursday, and the day
started with a gap down open of about 12 points on the ES.
After falling to 896.75, the market traded sideways going
into the last hour of trading. The market broke to the
downside, bounced back to the breakdown area, then fell
again to make a low in the last 5 minutes of trading.
Lately, after getting hit hard like what happened on
Thursday, the market has come roaring back. However, the
ominous looking daily pattern broke to the downside very
hard, and in the process the Dow and ES also painted "head
and shoulder" tops and broke the "neckline" on Thursday's
close. A snap-back rally could occur soon, especially given
that the closing Trin was above 3 on Thursday, closing at
3.24. A move back to the initial resistance that fails would
set up a good shorting opportunity. A buying opportunity
won't be a low risk opportunity unless there is a reversal
from the 878.50-877.50 zone on the ES. If the market gets
there and still can not reverse, then we could see the 852-
846 area in fairly short order in this downdraft before the
market gets set for what potentially could become a good
buying opportunity.
Look for early weakness to be reversed in the first 20-40
minutes of trading on Monday. If that plays out, then a
rebound should take the ES no higher than the initial
resistance before being rejected. If the market does rally
through the initial resistance, and not quickly reverse,
then a rally *could* have a chance of filling the gaps from
Wednesday / Thursday before the downside reasserts itself.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
896.25-896.75
900.75-901.50
905.75-906.50
916.50-917.00
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
889.75-888.75
882.50-881.50
878.50-877.50
873.75-872.50
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1450.50-1451.25
1454.50-1455.25
1461.50-1462.50
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1339.00-1338.50
1332.00-1331.25
1324.50-1323.50
September 2009 Dow futures resistance
symbols: emini = ymu9
8264-8268
8289-8293
8339-8344
September 2009 Dow futures support
symbols: emini = ymu9
8215-8209
8161-8157
8127-8123
CLICK HERE for FREE Trading Articles and Videos!
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
7 / 05 / 2009
(Published Since 1996)
...............................................
Dateline: 5:33 pm eastern time, 7/05/2009
The market was vulnerable coming into Thursday, and the day
started with a gap down open of about 12 points on the ES.
After falling to 896.75, the market traded sideways going
into the last hour of trading. The market broke to the
downside, bounced back to the breakdown area, then fell
again to make a low in the last 5 minutes of trading.
Lately, after getting hit hard like what happened on
Thursday, the market has come roaring back. However, the
ominous looking daily pattern broke to the downside very
hard, and in the process the Dow and ES also painted "head
and shoulder" tops and broke the "neckline" on Thursday's
close. A snap-back rally could occur soon, especially given
that the closing Trin was above 3 on Thursday, closing at
3.24. A move back to the initial resistance that fails would
set up a good shorting opportunity. A buying opportunity
won't be a low risk opportunity unless there is a reversal
from the 878.50-877.50 zone on the ES. If the market gets
there and still can not reverse, then we could see the 852-
846 area in fairly short order in this downdraft before the
market gets set for what potentially could become a good
buying opportunity.
Look for early weakness to be reversed in the first 20-40
minutes of trading on Monday. If that plays out, then a
rebound should take the ES no higher than the initial
resistance before being rejected. If the market does rally
through the initial resistance, and not quickly reverse,
then a rally *could* have a chance of filling the gaps from
Wednesday / Thursday before the downside reasserts itself.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
896.25-896.75
900.75-901.50
905.75-906.50
916.50-917.00
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
889.75-888.75
882.50-881.50
878.50-877.50
873.75-872.50
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1450.50-1451.25
1454.50-1455.25
1461.50-1462.50
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1339.00-1338.50
1332.00-1331.25
1324.50-1323.50
September 2009 Dow futures resistance
symbols: emini = ymu9
8264-8268
8289-8293
8339-8344
September 2009 Dow futures support
symbols: emini = ymu9
8215-8209
8161-8157
8127-8123
CLICK HERE for FREE Trading Articles and Videos!
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 07/01/09
.................................................
TradeStalker's
R.B.I. Trader's Update
7 / 01 / 2009
(Published Since 1996)
...............................................
Dateline: 6:02 pm eastern time, 7/01/2009
The market opened higher on Wednesday and after getting to
928.25 on the ES the move fizzled and there was a small
pullback to 924.00. The market traded sideways for awhile,
but unable to get a bounce to hold, buyers backed off and
selling took over as the ES fell to what started as initial
resistance to begin the day. The ES reached 917.75 with 5
minutes left in stock trading, just above the 917.50-917.00
target, and then firmed into the close.
Thursday is the last trading day for the week. We get the
Employment data before the open, which everyone seems to be
waiting for. The pattern on the daily chart looks ominous,
and if the 909.00-908.25 area that was nailed on Tuesday is
tested, and not held, it will put the market under pressure
from a bigger picture viewpoint.
The daily internal gauges are in neutral still, but the Vix
gave a couple repeat sell signals at Wednesday's close.
Also, the end-of-month plus first 2 days of the new month
upside bias is now over. That is where the bulk of most
months gains are made, and now that timeframe has gone away.
On Thursday, the market needs to get over the initial
resistance areas, and hold them on a pullback, to get a good
rally in gear. If that occurs, then watch the 931.50-932.50
area for a reversal / shorting opportunity. If there is
follow through weakness, and the 917.75-916.75 area is
broken and not quickly reversed, then a drop towards the
909.00-908.25 area would need to hold. If that area is
tested, and unable to hold, then a drop to the low 900's or
high 890's on the ES is likely on this leg down.
**NOTE: There will not be any intraday updates emailed on
Thursday. The next update will be sent on Sunday night, July
5th. Enjoy a safe Independance Day Holiday! **
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
922.75-923.25
927.75-928.25
931.50-932.50
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
917.75-916.75
913.25-912.75
909.00-908.25
902.50-901.50
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1485.50-1486.00
1496.25-1497.00
1502.50-1504.00
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1478.25-1477.75
1472.75-1471.75
1466.75-1465.75
1460.75-1459.75
September 2009 Dow futures resistance
symbols: emini = ymu9
8475-8479
8524-8529
8561-8566
September 2009 Dow futures support
symbols: emini = ymu9
8438-8434
8373-8368
8337-8334
8286-8282
---------------------------
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
7 / 01 / 2009
(Published Since 1996)
...............................................
Dateline: 6:02 pm eastern time, 7/01/2009
The market opened higher on Wednesday and after getting to
928.25 on the ES the move fizzled and there was a small
pullback to 924.00. The market traded sideways for awhile,
but unable to get a bounce to hold, buyers backed off and
selling took over as the ES fell to what started as initial
resistance to begin the day. The ES reached 917.75 with 5
minutes left in stock trading, just above the 917.50-917.00
target, and then firmed into the close.
Thursday is the last trading day for the week. We get the
Employment data before the open, which everyone seems to be
waiting for. The pattern on the daily chart looks ominous,
and if the 909.00-908.25 area that was nailed on Tuesday is
tested, and not held, it will put the market under pressure
from a bigger picture viewpoint.
The daily internal gauges are in neutral still, but the Vix
gave a couple repeat sell signals at Wednesday's close.
Also, the end-of-month plus first 2 days of the new month
upside bias is now over. That is where the bulk of most
months gains are made, and now that timeframe has gone away.
On Thursday, the market needs to get over the initial
resistance areas, and hold them on a pullback, to get a good
rally in gear. If that occurs, then watch the 931.50-932.50
area for a reversal / shorting opportunity. If there is
follow through weakness, and the 917.75-916.75 area is
broken and not quickly reversed, then a drop towards the
909.00-908.25 area would need to hold. If that area is
tested, and unable to hold, then a drop to the low 900's or
high 890's on the ES is likely on this leg down.
**NOTE: There will not be any intraday updates emailed on
Thursday. The next update will be sent on Sunday night, July
5th. Enjoy a safe Independance Day Holiday! **
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
922.75-923.25
927.75-928.25
931.50-932.50
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
917.75-916.75
913.25-912.75
909.00-908.25
902.50-901.50
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1485.50-1486.00
1496.25-1497.00
1502.50-1504.00
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1478.25-1477.75
1472.75-1471.75
1466.75-1465.75
1460.75-1459.75
September 2009 Dow futures resistance
symbols: emini = ymu9
8475-8479
8524-8529
8561-8566
September 2009 Dow futures support
symbols: emini = ymu9
8438-8434
8373-8368
8337-8334
8286-8282
---------------------------
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.
*************************************************
Today's Trading Recap: 07/01/09
HOW OUR DAY WENT: The ES opened higher and rallied nicely,
but in the afternoon I sensed the market was tired so a
little bit after 1pm the group was told to get short and
then look for a test of the 917.50-916.75 area. The trade
was worth about 8 points as the ES fell to 917.75 with
5 minutes left in stock trading. See the intraday updates
below...PLUS members get additional guidance on the free
instant message web page.
Good Trading,
Mike Reed
TradeStalker.com
but in the afternoon I sensed the market was tired so a
little bit after 1pm the group was told to get short and
then look for a test of the 917.50-916.75 area. The trade
was worth about 8 points as the ES fell to 917.75 with
5 minutes left in stock trading. See the intraday updates
below...PLUS members get additional guidance on the free
instant message web page.
Good Trading,
Mike Reed
TradeStalker.com
TradeStalker's RBI Update 06/30/09
.................................................
TradeStalker's
R.B.I. Trader's Update
6 / 30 / 2009
(Published Since 1996)
...............................................
Dateline: 6:02 pm eastern time, 6/30/2009
Early strength was reversed from 1 tick under the 926.50-
927.00 resistance zone about 20 minutes into trading on
Tuesday. The market broke fast and the pressure was on until
the ES reached 908.25 (just 1 tick under the 909.00-908.50
support zone). A bounce to 912.75 fizzled and a pullback
then found support at 909.25 and the upside began to catch a
bid. A pullback from the 913.50-914.00 updated resistance on
the ES was sold, but the dip held over the 911 level and the
ES rallied to 916.75 by the close.
The market bounced off of some key support on Tuesday, but a
test of those Tuesday lows could be in the cards again. The
Vix gave 3 sell signals on Tuesday, and most indicators are
back to neutral territory. A rally back towards the 919.75-
920.25 area on the ES that reverses could begin another
pullback. If that occurs, or we get early weakness, those
Tuesday lows are now key support on a pullback. The market
held up well down there, as the ES spent very little time
under the 909 level. If the market goes through the 909.00-
908.25 area on Wednesday and is not quickly reversed, then a
drop back to the low 900's or high 890's is likely before
the market gets turned back around.
On Wednesday look for early strength to be sold as soon as
the upside stalls/reverses and especially if it comes from a
resistance zone. If that plays out, beware that a pullback
needs to hold the 902.50-901.50 area on the ES, or quickly
reverse if broken.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
917.00-917.75
919.75-920.25
926.50-927.00
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
913.25-912.75
909.00-908.25
902.50-901.50
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1479.50-1480.00
1483.00-1483.50
1491.50-1492.75
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1472.75-1471.75
1466.75-1465.75
1460.75-1459.75
September 2009 Dow futures resistance
symbols: emini = ymu9
8405-8409
8441-8444
8500-8505
September 2009 Dow futures support
symbols: emini = ymu9
8373-8368
8337-8334
8286-8282
---------------------------
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
6 / 30 / 2009
(Published Since 1996)
...............................................
Dateline: 6:02 pm eastern time, 6/30/2009
Early strength was reversed from 1 tick under the 926.50-
927.00 resistance zone about 20 minutes into trading on
Tuesday. The market broke fast and the pressure was on until
the ES reached 908.25 (just 1 tick under the 909.00-908.50
support zone). A bounce to 912.75 fizzled and a pullback
then found support at 909.25 and the upside began to catch a
bid. A pullback from the 913.50-914.00 updated resistance on
the ES was sold, but the dip held over the 911 level and the
ES rallied to 916.75 by the close.
The market bounced off of some key support on Tuesday, but a
test of those Tuesday lows could be in the cards again. The
Vix gave 3 sell signals on Tuesday, and most indicators are
back to neutral territory. A rally back towards the 919.75-
920.25 area on the ES that reverses could begin another
pullback. If that occurs, or we get early weakness, those
Tuesday lows are now key support on a pullback. The market
held up well down there, as the ES spent very little time
under the 909 level. If the market goes through the 909.00-
908.25 area on Wednesday and is not quickly reversed, then a
drop back to the low 900's or high 890's is likely before
the market gets turned back around.
On Wednesday look for early strength to be sold as soon as
the upside stalls/reverses and especially if it comes from a
resistance zone. If that plays out, beware that a pullback
needs to hold the 902.50-901.50 area on the ES, or quickly
reverse if broken.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
917.00-917.75
919.75-920.25
926.50-927.00
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
913.25-912.75
909.00-908.25
902.50-901.50
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1479.50-1480.00
1483.00-1483.50
1491.50-1492.75
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1472.75-1471.75
1466.75-1465.75
1460.75-1459.75
September 2009 Dow futures resistance
symbols: emini = ymu9
8405-8409
8441-8444
8500-8505
September 2009 Dow futures support
symbols: emini = ymu9
8373-8368
8337-8334
8286-8282
---------------------------
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.
*************************************************
Today's Trading Recap: 06/30/09
HOW OUR DAY WENT: The ES popped up on the open and
the move fizzled about 20 minutes into trading, setting
up a shorting opportunity. It was a nice one, as I told
members in the Instant Message box to stay short, *not*
cover at 918.00-917.50 zone but rather let it ride and
the ES kept going until reaching 908.25 -- 16 points
off the early high AND at our 909.00-908.50 support
zone -- before a bounce. That move stalled out at 912.75,
which was just under the updated resistance at the 913.50-
914.00 area, and was a nice re-entry on the short side as
the downtrend resumed. The ES pulled back to the 909.25
level where buying came in twice. The ES rallied back to
913.50-914.00 updated resistance, getting to 913.75 before
backing off at 3pm.
Good Trading,
Mike Reed
TradeStalker.com
the move fizzled about 20 minutes into trading, setting
up a shorting opportunity. It was a nice one, as I told
members in the Instant Message box to stay short, *not*
cover at 918.00-917.50 zone but rather let it ride and
the ES kept going until reaching 908.25 -- 16 points
off the early high AND at our 909.00-908.50 support
zone -- before a bounce. That move stalled out at 912.75,
which was just under the updated resistance at the 913.50-
914.00 area, and was a nice re-entry on the short side as
the downtrend resumed. The ES pulled back to the 909.25
level where buying came in twice. The ES rallied back to
913.50-914.00 updated resistance, getting to 913.75 before
backing off at 3pm.
Good Trading,
Mike Reed
TradeStalker.com
TradeStalker's RBI Update 06/29/09
.................................................
TradeStalker's
R.B.I. Trader's Update
6 / 29 / 2009
(Published Since 1996)
...............................................
Dateline: 6:09 pm eastern time, 6/29/2009
The ES popped up on the open, right at the 917.50-918.25 key
resistance, and reversed. That gave a nice short as the ES
dropped 6 points to 911.50 before reversing. The move over
that 917.50-918.25 key resistance held, giving the ES room
to go to the next resistance at the 922.50-923.25 zone. The
ES reached 923.25 and backed off a few times then found a
choppy trading range. A "prairie dog" reversal off of 924.00
started a pullback, and new support at 921.00 was tested.
The ES held at 921.50 and popped back, then fell to 920.25
while the Dow Cash reached 8500 and quickly turned back up.
After a rally back to test the highs, the market fell back
to the afternoon lows and then rallied into the close. The
futures dropped after stocks closed to settle under fair
value.
The market rallied despite being very overbought on Monday,
but after the morning run-up the move ran out of gas. There
is 1 day left in the month and second quarter, and buyers
were stepping to the plate on the dips, so no damage done
just yet. The market would begin to roll over if the Dow
Cash breaks and holds under the 8500 level while the ES does
the same with the 920 level.
On Tuesday we get the Consumer Confidence 30 minutes into
trading. The rallies should still offer a shorting
opportunity when the upside stalls out and begins to turn
over. However, the uptrends will be intact as long as those
support areas are held. If the 920 level on the ES and 8500
level on the Dow are broken, then the 913.25-912.75 area on
the ES and the 1466.75-1465.75 area on the NQ would be key
areas that should be watched for a reversal on a decent
selloff early in the day. If those are reached, and the
market isn't turned back up pretty soon after breaking, then
the market could be in for end-of-quarter selloff.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
923.50-924.00
926.50-927.00
931.50-932.50
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
920.25-920.00
918.00-917.50
913.25-912.75
909.00-908.50
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1485.50-1486.00
1492.50-1493.25
1500.50-1502.25
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1478.00-1477.25
1474.00-1473.50
1466.75-1465.75
1461.25-1460.50
September 2009 Dow futures resistance
symbols: emini = ymu9
8474-8478
8499-8503
8538-8543
September 2009 Dow futures support
symbols: emini = ymu9
8444-8440
8413-8409
8365-8362
8342-8337
---------------------------
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
6 / 29 / 2009
(Published Since 1996)
...............................................
Dateline: 6:09 pm eastern time, 6/29/2009
The ES popped up on the open, right at the 917.50-918.25 key
resistance, and reversed. That gave a nice short as the ES
dropped 6 points to 911.50 before reversing. The move over
that 917.50-918.25 key resistance held, giving the ES room
to go to the next resistance at the 922.50-923.25 zone. The
ES reached 923.25 and backed off a few times then found a
choppy trading range. A "prairie dog" reversal off of 924.00
started a pullback, and new support at 921.00 was tested.
The ES held at 921.50 and popped back, then fell to 920.25
while the Dow Cash reached 8500 and quickly turned back up.
After a rally back to test the highs, the market fell back
to the afternoon lows and then rallied into the close. The
futures dropped after stocks closed to settle under fair
value.
The market rallied despite being very overbought on Monday,
but after the morning run-up the move ran out of gas. There
is 1 day left in the month and second quarter, and buyers
were stepping to the plate on the dips, so no damage done
just yet. The market would begin to roll over if the Dow
Cash breaks and holds under the 8500 level while the ES does
the same with the 920 level.
On Tuesday we get the Consumer Confidence 30 minutes into
trading. The rallies should still offer a shorting
opportunity when the upside stalls out and begins to turn
over. However, the uptrends will be intact as long as those
support areas are held. If the 920 level on the ES and 8500
level on the Dow are broken, then the 913.25-912.75 area on
the ES and the 1466.75-1465.75 area on the NQ would be key
areas that should be watched for a reversal on a decent
selloff early in the day. If those are reached, and the
market isn't turned back up pretty soon after breaking, then
the market could be in for end-of-quarter selloff.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
923.50-924.00
926.50-927.00
931.50-932.50
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
920.25-920.00
918.00-917.50
913.25-912.75
909.00-908.50
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1485.50-1486.00
1492.50-1493.25
1500.50-1502.25
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1478.00-1477.25
1474.00-1473.50
1466.75-1465.75
1461.25-1460.50
September 2009 Dow futures resistance
symbols: emini = ymu9
8474-8478
8499-8503
8538-8543
September 2009 Dow futures support
symbols: emini = ymu9
8444-8440
8413-8409
8365-8362
8342-8337
---------------------------
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.
*************************************************
Today's Trading Recap: 06/29/09
HOW OUR DAY WENT: The ES popped up on the open, right
at the 917.50-918.25 key resistance, and reversed. That
gave a nice short as the ES dropped 6 points to 911.50
before reversing. The move over that 917.50-918.25 key
resistance held, giving the ES room to go to the next
resistance at the 922.50-923.25 zone. The ES reached
923.25 and backed off a few times then found a choppy
trading range. A "prairie dog" reversal off of 924.00
started a pullback, and members were given new support
at 921.00 and then the 917.25-916.50 area. The ES held
at 921.50, but could't get going on the upside so another
update was sent giving the transition levels for the ES
and Dow Cash. They held on the 2 pullbacks setting up
scalps on the long side.
Good Trading,
Mike Reed
TradeStalker.com
at the 917.50-918.25 key resistance, and reversed. That
gave a nice short as the ES dropped 6 points to 911.50
before reversing. The move over that 917.50-918.25 key
resistance held, giving the ES room to go to the next
resistance at the 922.50-923.25 zone. The ES reached
923.25 and backed off a few times then found a choppy
trading range. A "prairie dog" reversal off of 924.00
started a pullback, and members were given new support
at 921.00 and then the 917.25-916.50 area. The ES held
at 921.50, but could't get going on the upside so another
update was sent giving the transition levels for the ES
and Dow Cash. They held on the 2 pullbacks setting up
scalps on the long side.
Good Trading,
Mike Reed
TradeStalker.com
TradeStalker's RBI Update 06/28/09
.................................................
TradeStalker's
R.B.I. Trader's Update
6 / 28 / 2009
(Published Since 1996)
...............................................
Dateline: 5:26 pm eastern time, 6/28/2009
On Friday we had an early bounce to short when the ES
fizzled at 916.25 and reversed about 15 minutes into the
trading day. The first decent pullback then held at 909.75,
just above the key 909.50-909.00 zone, before bouncing up to
914.50. That move fizzled and a drop to 908.50 was quickly
reversed, and the ES then bounced around in slow trading.
With about 90 minutes left in trading, the market started a
rally that took the ES to the 917.50-918.00 resistance area.
However, after tagging 918.25, the ES quickly reversed and
dropped back to 913.00 and settled under fair value.
The action on Friday was narrow range action at the top of a
trend, similar to a week ago. The internal gauges are short
term overbought, with my 3 day thrust at +.65 (+/- .50 is
overbought/oversold extreme) and the RBI Sell gate nearly
open. In addition to that, the Vix made a new low for the
year and gave 2 of 5 possible sell signals in my work. If
the Vix reverses to the upside from here, it would give a
couple more sell signals. When things set up like this, the
market normally gets hit with a decent sized selloff, or at
best has a tough time making much headway on the upside. The
only fly in the ointment as I see it is that we have end-of-
month and quarter, and a short week due to the July 4th
Holiday.
That said, the ES has a lid at the 917.50-918.25 area, and
if it is not cleared and held early on Monday then we could
see another bad day, or at least a decent pullback. If there
is early strength, and the ES fails to break and hold over
the initial resistance areas, then it would set up a
shorting opportunity. If the market gets over that area,
then we could see a run towards the 922.50-923.25 area. If
the market is weak, then the initial support will not hold
(the 1474.50-1473.75 area on the stronger NQ looks
especially key) and should turn into resistance if the
market breaks down to test or break the Friday lows.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
917.50-918.25
922.50-923.25
925.75-926.25
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
913.25-912.75
909.00-908.50
905.50-905.00
899.50-898.50
892.50-891.50
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1481.50-1482.00
1489.00-1489.75
1492.50-1493.25
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1474.50-1473.75
1464.75-1463.75
1458.75-1458.00
1452.00-1451.00
September 2009 Dow futures resistance
symbols: emini = ymu9
8406-8412
8448-8453
8482-8487
September 2009 Dow futures support
symbols: emini = ymu9
8365-8362
8342-8337
8310-8306
8268-8263
---------------------------
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
6 / 28 / 2009
(Published Since 1996)
...............................................
Dateline: 5:26 pm eastern time, 6/28/2009
On Friday we had an early bounce to short when the ES
fizzled at 916.25 and reversed about 15 minutes into the
trading day. The first decent pullback then held at 909.75,
just above the key 909.50-909.00 zone, before bouncing up to
914.50. That move fizzled and a drop to 908.50 was quickly
reversed, and the ES then bounced around in slow trading.
With about 90 minutes left in trading, the market started a
rally that took the ES to the 917.50-918.00 resistance area.
However, after tagging 918.25, the ES quickly reversed and
dropped back to 913.00 and settled under fair value.
The action on Friday was narrow range action at the top of a
trend, similar to a week ago. The internal gauges are short
term overbought, with my 3 day thrust at +.65 (+/- .50 is
overbought/oversold extreme) and the RBI Sell gate nearly
open. In addition to that, the Vix made a new low for the
year and gave 2 of 5 possible sell signals in my work. If
the Vix reverses to the upside from here, it would give a
couple more sell signals. When things set up like this, the
market normally gets hit with a decent sized selloff, or at
best has a tough time making much headway on the upside. The
only fly in the ointment as I see it is that we have end-of-
month and quarter, and a short week due to the July 4th
Holiday.
That said, the ES has a lid at the 917.50-918.25 area, and
if it is not cleared and held early on Monday then we could
see another bad day, or at least a decent pullback. If there
is early strength, and the ES fails to break and hold over
the initial resistance areas, then it would set up a
shorting opportunity. If the market gets over that area,
then we could see a run towards the 922.50-923.25 area. If
the market is weak, then the initial support will not hold
(the 1474.50-1473.75 area on the stronger NQ looks
especially key) and should turn into resistance if the
market breaks down to test or break the Friday lows.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
917.50-918.25
922.50-923.25
925.75-926.25
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
913.25-912.75
909.00-908.50
905.50-905.00
899.50-898.50
892.50-891.50
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1481.50-1482.00
1489.00-1489.75
1492.50-1493.25
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1474.50-1473.75
1464.75-1463.75
1458.75-1458.00
1452.00-1451.00
September 2009 Dow futures resistance
symbols: emini = ymu9
8406-8412
8448-8453
8482-8487
September 2009 Dow futures support
symbols: emini = ymu9
8365-8362
8342-8337
8310-8306
8268-8263
---------------------------
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.
*************************************************
Subscribe to:
Posts (Atom)
