TradeStalker's
Support and Resistance Update
10 / 26 / 2010
(Published Since 1996)
...............................................
Dateline: 6:16 pm eastern time, 10/26/2010
The ES opened down 6+ points but then got turned up in the
first 20 minutes from 1174.00 on the ES and a rally took the
ES to 1183.25 before reversing. That updated resistance was
rejected several times before rolling over and dropping to
1177.75 around 2pm. A fast 123 bottom started a rally back
to test the highs before the close.
The market is range bound currently. The upside appears to
be limited, but as long as the initial support levels are
held on a a pullback on Wednesday the trends will still be
up. If a pullback holds the initial support, then another
push higher to see how the Tuesday afternoon high areas are
treated is likely. However, if those initial support levels
are not defended, then a "sell the bounce" day will be in
gear, especially if the initial resistance is not exceeded
early.
The SP500 has been up 4 days in a row by a tiny bit, and if
the initial resistance areas are not cleared and held, then
a pullback should start. If that pullback can not hold
initial support, and then the 1178.00-1177.50 is not held
either, then a trip towards the 1173.50-1172.50 area at
least is likely in the works.
December 2010 SP futures resistance
symbols: emini = esz0 / big contract =spz0
1183.50-1184.25
1188.00-1188.50
1192.50-1193.00
1198.50-1199.00
December 2010 SP futures support
symbols: emini = esz0 / big contract =spz0
1180.50
1178.00-1177.50
1173.50-1172.50
1167.50-1167.00
December 2010 Nasdaq futures resistance
symbols: emini = nqz0 / big contract = ndz0
2021.00-2022.00
2128.75-2130.00
2135.75-2136.50
December 2010 Nasdaq futures support
symbols: emini = nqz0 / big contract = ndz0
2114.75
2111.50-2110.50
2106.25-2105.50
2097.50-2096.50
December 2010 Dow futures resistance
symbols: emini = ymz0
11133-11138
11170-11174
11120-11125
December 2010 Dow futures support
symbols: emini = ymz0
11104
11083-11078
11038-11032
11014-11010
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---------------------------
Good Trading,
Mike Reed
Copyright (c) 2010 by TradeStalker.com, Ft Wayne, IN.
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Disclaimer
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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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is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
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