TradeStalker's RBI Update 01/11/10

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TradeStalker's

R.B.I. Trader's Update

1 / 11 / 2010

(Published Since 1996)

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Dateline: 6:16 pm eastern time, 1/11/2010

The gap up open on the ES reversed from the 1146.50-1148.00
resistance zone on Monday, and the first pullback reversed
after falling to 1139.25. A bounce to 1142.50 failed, and
from there the ES sold off to a low at the 1137.75-1137.25
support zone. The market turned back up, and able to hold
over the 1139.75 level, the ES rallied to 1144.25 before the
close.

The market closed at new highs for the move again on Monday,
the 6th up day in a row. The ES rejected the 1146.50-1148.00
area, however once again the market got footing at a support
area and rallied back. The Vix gave 4 sell signals on
Monday, and at the least the volatility should pick up.
Right now it looks like the market is vulnerable, especially
with the crowd so bullish.

On Tuesday the market should have trouble holding on to any
gains it might make. Look for early weakness to set up a
quick trade on the long side. Just do not fall in love with
the long side, as that 1146.50-1148.00 area should be a
short term high and a deeper pullback than we have been
getting should occur soon.

March 2010 SP futures resistance
symbols: emini = esh0 / big contract =sph0

1143.75-1144.25
1146.50-1148.00
1151.75-1152.25

March 2010 SP futures support
symbols: emini = esh0 / big contract =sph0

1140.00-1139.50
1137.75-1137.25
1135.50
1132.00-1131.25
1126.00-1125.00


March 2010 Nasdaq futures resistance
symbols: emini = nqh0 / big contract = ndh0

1886.00-1886.50
1900.50-1901.00
1905.75-1906.50

March 2010 Nasdaq futures support
symbols: emini = nqh0 / big contract = ndh0

1878.50-1877.75
1874.25-1873.25
1870.50
1867.50-1866.50
1858.50-1857.50


March 2010 Dow futures resistance
symbols: emini = ymh0

10619-10623
10644-10648
10674-10678

March 2010 Dow futures support
symbols: emini = ymh0

10575-10572
10541-10537
10518
10501-10496
10441-10438

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Good Trading,
Mike Reed
TradeStalker.com

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