Market Comment 12/21/06

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TradeStalker's

R.B.I. Trader's Update

12/ 21 / 2006

(Published Since 1996)

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Dateline: 7:02 pm Eastern time, 12/21/2006

The market opened higher on Thursday and moved up to the
1437.75-1438.50 initial resistance area on the SP futures.
After touching 1438.00, the move reversed and they sold off
to the initial support areas. There was a small bounce, but
it was also sold in to and the market went back to make
lower lows. After another bounce the market rolled over and
sold off steadily until reaching the 1426.50-1426.00 support
area on the SP futures. With two hours left in the trading
day, the market crawled back into the last hour and then
softened into the close.

First off, the next update will be sent on Tuesday night.
We'd like to wish all of our subscribers a safe and
wonderful Holiday Weekend.

The action is likely going to be thin on Friday. The market
has acted poor for 4 of the past 5 days, and unless / until
there is an established uptrend intact, the short side
should still offer the better setups. The initial resistance
will need to be cleared, and then hold on a pullback, in
order to get the market out of trouble on Friday. If this
occurs early, then buying pullbacks should be in play as
a decent rally could be in gear.

Get my nightly support and resistance zones that I'll be
buying and selling against the following trading day along
with my bullish or bearish outlook for the next day's market
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Good Trading,
Mike Reed