TradeStalker's
R.B.I. Trader's Update
3 / 30 / 2010
(Published Since 1996)
...............................................
Dateline: 6:36 pm eastern time, 3/30/2010
It looked like the market could make a run up to test the
recent highs early on Tuesday, and the averages all rallied
to within a few points of those highs in the first half
hour. Then the move stalled, reversed, and sold off 9.50
points on the ES and 19.75 points on the NQ. The 1164.25 low
was just over the 1163.75-1163.00 **key support and kept the
market from falling apart. The market managed to work its
way back towards the highs, then pulled back into the close.
The market is still spinning its wheels up at these levels,
but the ES so far has refused to stay over the 1170 level
for very long. At this juncture, with the upside looking
like it is very limited, the focus will be on selling the
bounces that are showing rejection, like the 1171.00 level
late on Tuesday. Then, if the market obliges and pulls back,
take partial profits and trail a stop on the rest as the
market can come under pressure at any time now. If the
market shows signs of turning back up from near the 10880
area on the Dow cash, then no harm is done. However, if that
level on the Dow and the 1166 area on the ES is tested/
broken and not quickly reversed, then it's more than a
pullback and the downside could finally begin to unwind.
June 2010 SP futures resistance
symbols: emini = esm0 / big contract =spm0
1171.00-1171.50
1173.25-1173.75
1176.50-1177.00
1181.50-1182.50
June 2010 SP futures support
symbols: emini = esm0 / big contract =spm0
1168.50
1166.00
1163.75-1163.00
1159.50-1157.75
1156.50-1155.75
1148.50-1147.75
June 2010 Nasdaq futures resistance
symbols: emini = nqm0 / big contract = ndm0
1967.50-1968.00
1971.50-1972.50
1976.75-1977.25
June 2010 Nasdaq futures support
symbols: emini = nqm0 / big contract = ndm0
1963.75
1958.00
1952.25-1950.75
1944.25-1942.50
1939.25-1938.50
June 2010 Dow futures resistance
symbols: emini = ymm0
10862-10865
10875-10879
10889-10894
June 2010 Dow futures support
symbols: emini = ymm0
10846
10819
10801-10798
10771-10766
10753-10747
CLICK HERE FOR FREE TRADING VIDEOS!
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
futures ($ES_F). 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.
*************************************************
No comments:
Post a Comment