TradeStalker's
R.B.I. Trader's Update
12 / 21 / 2009
(Published Since 1996)
...............................................
Dateline: 6:22 pm eastern time, 12/21/2009
The market gapped up on Monday and kept going until reaching
the 1111.50-1112.00 resistance zone on the ES. The 1112.00
level was rejected and the ES pulled back to 1109.00 updated
support before heading back up. The bounce failed at
1113.25, and after the break the 1111.25 level was new
resistance. A bounce from the 1109.00 support was reversed
at 1111.50 and it started a drop to 1107.50 and a poor
close.
We get GDP before the open on Tuesday, and the Existing Home
Sales 30 minutes into the trading day. The Vix dropped to
its second lowest intraday level in the past 17 months on
Monday. Part of that is due to expected quiet pre holiday
trading, however a reversal by the Vix would give a number
of short term sell signals. What that means is that if there
is another rally from up here, it must stick and not reverse
as it has been doing lately. If that should occur, then
maybe the market makes its breakout to the downside.
On Tuesday, in order to avoid more downside, the ES needs to
get over the initial resistance and hold. Aside from that, a
drop towards the 1103.50-1102.50 that reverses could set up
a buying opportunity. If the market sells off and cannot
hold that area, then the 1099.00-1098.25 area will need to
hold and bring in buying, otherwise the market could be in
for a bad day.
March 2010 SP futures resistance
symbols: emini = esh0 / big contract =sph0
1109.50-1109.75
1112.50-1113.00
1115.00
1118.50-1119.00
March 2010 SP futures support
symbols: emini = esh0 / big contract =sph0
1107.75-1107.25
1103.50-1102.50
1099.00-1098.25
March 2010 Nasdaq futures resistance
symbols: emini = nqh0 / big contract = ndh0
1827.25-1828.00
1831.25-1832.50
1836.00
1838.50-1839.50
March 2010 Nasdaq futures support
symbols: emini = nqh0 / big contract = ndh0
1824.50-1823.75
1818.75-1818.00
1814.00-1812.50
March 2010 Dow futures resistance
symbols: emini = ymh0
10358-10361
10395-10398
10418
10430-10434
March 2010 Dow futures support
symbols: emini = ymh0
10336-10332
10312-10308
10269-10264
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Good Trading,
Mike Reed
TradeStalker.com
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)
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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
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