TradeStalker's
R.B.I. Trader's Update
2 / 11 / 2010
(Published Since 1996)
...............................................
Dateline: 6:49 pm eastern time, 2/11/2010
The ES opened lower on Thursday and after a tiny pop the ES
dropped from 1064.25 down to 1057.50 in the first 20 minutes
of trading. The market reversed course and rallied back to
just over the 1066.25 resistance area before pulling back.
The ES reversed back up from updated support and then ran up
to the 1077.00-1078.00 zone. After reversing from 1077.75 on
the first attempt, the ES dropped 4 points to 1073.75 and
bounced back. The bounce then went to 1078.00 and quickly
reversed, and then it was chop between 1077.25 and 1073.50
going into the close.
The market is one decent up day from a potential trading top
by the look of things, and we could see the ES go for the
1081.50-1082.00 area (or higher if not rejected early)
before a decent pullback occurs. If that plays out, then a
decent sized pullback of 8-10 ES points would be likely if
the volatility is going to continue.
We get Retail Sales before the open on Friday. As long as
the initial support areas are held, the trends will remain
pointing higher. So, if there is early weakness it should
set up a good trade on the long side when it reverses. If
the ES doesn't show any sign of turning from the 1081.50-
1082.00 zone then we are likely headed back to a good
resistance zone up around the 1085.50-1086.25 area on the
ES. If that zone is reached, then beware of a reversal as
that is about as far as a rally should go unless the market
is super strong and headed back towards the 1090's.
March 2010 SP futures resistance
symbols: emini = esh0 / big contract =sph0
1077.00-1078.00
1081.50-1082.00
1085.50-1086.25
1090.50-1091.25
March 2010 SP futures support
symbols: emini = esh0 / big contract =sph0
1074.00-1073.50
1072.25
1068.50-1068.00
1061.50-1060.50
1057.25-1056.25
March 2010 Nasdaq futures resistance
symbols: emini = nqh0 / big contract = ndh0
1778.00-1779.00
1784.00-1784.75
1790.25-1791.50
1798.75-1800.00
March 2010 Nasdaq futures support
symbols: emini = nqh0 / big contract = ndh0
1770.75-1770.25
1768.00
1758.00-1757.50
1749.50-1748.50
1736.75-1736.00
March 2010 Dow futures resistance
symbols: emini = ymh0
10122-10129
10167-10172
10208-10211
10245-10249
March 2010 Dow futures support
symbols: emini = ymh0
10091-10088
10081
10049-10046
9977-9971
9932-9927
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Good Trading,
Mike Reed
TradeStalker.com
Copyright (c) 2010 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
This publication's primary focus is trading the index
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(DIA), and (DOG)
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The foregoing has been prepared solely for informational
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research and data believed reliable, but there is no
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