TradeStalker's RBI Update 06/26/08

.................................................

TradeStalker's

R.B.I. Trader's Update

6 / 26 / 2008

(Published Since 1996)

...............................................


Dateline: 6:00 pm eastern time, 6/26/2008

Trading updates are posted through out the day to "real
time" subscribers on our Instant Messenger Site. Go here to
sign up now! http://www.tradestalker.com/order-page.htm

The market gapped down on the open on Thursday, and after a
little pop over 1310 on the SP futures failed, more selling
came in and drove prices lower. The 1298.50-1297.50 zone
provided a bounce, but that failed right at the 1301.75
updated resistance and the market rolled over again. The
1292 target was met shortly after noon, and then the SP
futures bounced to 1298.25. The updated resistance was at
1298.50, and the market reversed and fell to new lows for
the day. The SP futures reached 1287.25 and then bounced
back feebly back to 1393.25. Unable to push through the 1294
resistance, the market rolled over again and sold another 10
points on the SP futures by the close.

Thursday was a trend day, and back to back trend days are
rare. So, expect two-sided action on Friday. The initial
resistance areas will need to be exceeded, and not quickly
reversed, to erase some of the downside momentum. If there
is going to be a decent trade on the long side, it could set
up if the market opens lower and then reverses back to the
upside. If that occurs, then the market could rally back
towards the initial resistance zones. If that plays out, the
way the market handles that initial resistance should say a
lot about what to expect ahead. Whatever the case, even
though the market is oversold, it needs to prove itself
strong before favoring the long side. Shorting the bounces
as soon as the momentum fizzles is still the better odds
trading setup until the trends turn.

The initial resistance is at the 1292.75-1293.25 area on the
SP futures and 1878.75-1880.00 area on the Nasdaq futures.
If the market gets up there, and doesn't have trouble, then
a rally could be in gear. The next hurdles are at the
1298.00-1298.50 area on the SP futures and 1888.50-1888.75
area on the Nasdaq futures. Those should be key if they are
reached. A failure at those areas would mean lower prices
are coming again. However, if those are exceeded, then the
1301.75-1302.25 area on the SP futures and 1892.50-1892.25
area on the Nasdaq futures would be next. If the market gets
up there, and the rally doesn't fail, then we could see some
piling on and the upside could go parabolic.

The initial support is at the 1283.00-1282.50 area on the SP
futures and 1863.00-1862.00 area on the Nasdaq futures. If
the market opens higher on Friday, those areas should be
watched for potential double bottoms. Below those areas,
there should be some support near the 1278.00-1277.50 area
on the SP futures and 1854.50-1853.50 area on the Nasdaq
futures. If the market gets there, especially early in the
morning, then beware of a reversal attempt. However, if
those don't hold then the door is open for a move towards
the 1272.50-1272.00 area on the SP futures and 1847.75-
1847.00 area on the Nasdaq futures. If those do not hold,
then the major support is at the 1258.75-1257.00 area on the
SP futures. If the market gets there, and doesn't quickly
reverse, then a for the first time we could see some panic
selling come in and the market could go into a crashette
type mode.


September 2008 SP futures resistance
symbols: emini = esu8 / big contract =spu8

1292.75-1293.25
1298.00-1298.50
1301.75-1302.25

September 2008 SP futures support
symbols: emini = esu8 / big contract =spu8

1283.00-1282.50
1278.00-1277.50
1272.50-1272.00
1258.75-1257.00 major

September 2008 Nasdaq futures resistance
symbols: emini = nqu8 / big contract = ndu8

1878.75-1880.00
1888.50-1888.75
1892.50-1892.25

September 2008 Nasdaq futures support
symbols: emini = nqu8 / big contract = ndu8

1863.00-1862.00
1854.50-1853.50
1847.75-1847.00

September 2008 Dow futures resistance
symbols: emini = ymu8

11526-11529
11583-11587
11604-11608

September 2008 Dow futures support
symbols: emini = ymu8

11445-11442
11398-11394
11346-11343

September 2008 Russell futures resistance
symbols: emini = er2u8 / big contract = er2u8

700.80-701.20
705.40-705.80
708.10-708.50

September 2008 Russell futures support
symbols: emini = er2u8 / big contract = er2u8

695.90-695.60
692.10-691.80
687.80-687.40


---------------------------

REMINDER:

Real Time subscribers can view these updates on
the web at this site:

http://www.tradestalker.com/members


---------------------------


Good Trading,
Mike Reed

Copyright (c) 2008 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.

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.
*************************************************

TradeStalker's RBI Update 06/25/08

.................................................

TradeStalker's

R.B.I. Trader's Update

6 / 25 / 2008

(Published Since 1996)

...............................................


Dateline: 6:40 pm eastern time, 6/25/2008

Trading updates are posted through out the day to "real
time" subscribers on our Instant Messenger Site. Go here to
sign up now! http://www.tradestalker.com/order-page.htm

The market opened higher on Wednesday and rallied into the
lunchtime trading. The SP futures had some trouble after
reaching 1330, and a small pullback occurred before the Fed
release. After the release, there was a pop and drop over
the first 20 minutes, and then the market rallied back.
After testing the 1334.00 high, the market went right back
down to the pullback lows. The SP futures held the 1324.50
level and then turned back up and didn't really pause until
making new highs for the day. The SP futures reached 1337.75
and quickly reversed, and that started another drop. The
move broke the bottoms at 1324.50 on the way down, and only
the closing bell could stop the selling as the averages
closed well below the afternoon highs.

Despite the late day drubbing, the averages all closed
higher on Wednesday. The oversold condition has been
relieved, so the market doesn't have that for a prop at the
moment. About the only thing that is bullish is the end of
month upside bias for the market. The reversal from a strong
resistance zone was rejected, and a lot of longs are likely
still stuck in losing positions. The rallies that stall out,
or reverse, should offer the better opportunities on
Thursday as the trends and momentum are pointing down.

On Thursday there could be a quick trade on the long side if
follow through selling reverses in the early going. If that
plays out, don't fall in love with any long trade as the
first decent bounce will likely be sold. The SP futures need
to get over the 1324.50-1325.00 area and the Nasdaq futures
need to break the 1947.75-1949.00 area, and not quickly
reverse, to get the market in to neutral territory. On the
other side of the coin, if there is a selloff that sends the
market down really hard to the 1298.50-1297.50 area on the
SP futures, and the market reverses back to the upside, then
that could set up a good rally. Aside from that, short the
bounces that go for about 30-40 minutes and then stall out,
especially if they coincide with a fixed or dynamic
resistance zone, until things change.

The initial resistance is at the 1324.50-1325.00 area on the
SP futures and 1947.75-1949.00 area on the Nasdaq futures.
If those are reached and not reversed, then the door is open
for a rally towards the 1329.75-1330.25 area on the SP
futures and 1954.00-1954.75 area on the Nasdaq futures. If
those are reached, and the market doesn't have trouble
pushing through, then a test of the 1337.50-1338.00 area on
the SP futures and 1960.00-1960.75 area on the Nasdaq
futures would be a surprise, and likely make for a great
shorting opportunity if the move stalls and reverses like it
did on Wednesday.

The initial support is at the 1321.00-1320.25 area on the SP
futures and 1928.00-1927.25 area on the Nasdaq futures.
Those will likely be broken on the open, and id so then they
could turn in to resistance. The first good support is at
the 1316.00-1315.50 area on the SP futures and 1919.50-
1918.25 area on the Nasdaq futures. If there is going to be
an early reversal, it could come from those areas. However,
if those are broken and the market doesn't quickly reverse,
then the market could spill towards the 1310.75-1310.00 area
on the SP futures and 1908.75-1907.75 area on the Nasdaq
futures. If those are broken, then the 1305.50-1303.00 area
on the SP futures and 1895.00-1892.50 area on the Nasdaq
futures would be major support. If those are broken, be on
alert for a reversal from the 1298.50-1297.50 area on the SP
futures. If that doesn't happen, then the 1292.50-1291.75
area on the SP futures is as far as a drop should go unless
the market is in a crashette type environment.


September 2008 SP futures resistance
symbols: emini = esu8 / big contract =spu8

1324.50-1325.00
1329.75-1330.25
1337.50-1338.00

September 2008 SP futures support
symbols: emini = esu8 / big contract =spu8

1321.00-1320.25
1316.00-1315.50 important early
1310.75-1310.00
1305.50-1303.00 big
1298.50-1297.50
1292.50-1291.75 major

September 2008 Nasdaq futures resistance
symbols: emini = nqu8 / big contract = ndu8

1947.75-1949.00
1954.00-1954.75
1960.75

September 2008 Nasdaq futures support
symbols: emini = nqu8 / big contract = ndu8

1928.00-1927.25
1919.50-1918.25
1908.75-1907.75
1895.00-1892.50

September 2008 Dow futures resistance
symbols: emini = ymu8

11822-12827
11850-11854
11919-11923

September 2008 Dow futures support
symbols: emini = ymu8

11786-11782
11758-11752
11720-11708
11654-11648

September 2008 Russell futures resistance
symbols: emini = er2u8 / big contract = er2u8

716.70-717.00
718.20-718.60
722.80-723.20

September 2008 Russell futures support
symbols: emini = er2u8 / big contract = er2u8

710.40-709.80
706.00-705.50
703.00-702.50
698.70-697.90



---------------------------

REMINDER:

Real Time subscribers can view these updates on
the web at this site:

http://www.tradestalker.com/members


---------------------------


Good Trading,
Mike Reed

Copyright (c) 2008 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.

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.
*************************************************

TradeStalker's RBI Update 06/24/08

.................................................

TradeStalker's

R.B.I. Trader's Update

6 / 24 / 2008

(Published Since 1996)

...............................................


Dateline: 6:30 pm eastern time, 6/24/2008

Trading updates are posted through out the day to "real
time" subscribers on our Instant Messenger Site. Go here to
sign up now! http://www.tradestalker.com/order-page.htm

The market gapped down on Tuesday and sold off for 35
minutes before reversing. That was the timeframe for a
reversal, and the SP futures turned up from a 1305.25 low
(major support was at the 1304.00-1303.00 area) and they
bounced to 1311.25 and the move stalled out. The Nasdaq fell
to a lower low, but the SP futures made a 1-2-3 bottom
formation and the rally was in gear. The move stalled after
getting to the 1320.50-1321.00 area on the SP futures, but
finally pushed through to make a high at 1328.00 by early
afternoon. After pulling back, there was a pop to a lower
high at 1325.50 that reversed, and that set up a short
trade. After the market broke to the downside, the updated
resistance at the 1321.75-1322.25 area was tested and
rejected and the selling kind of snowballed. The SP futures
dropped to 1313.25 with 20 minutes left in stock trading and
then churned into the close.

We get the Fed release around 2:15 pm eastern time on
Wednesday. If there is a trending move into the Fed release,
the move tends to be reversed. If the market doesn't trend
into the release, and even if it does, there should be a
quick back-and-forth type of movement after the release, and
then the market sorts things out and should begin a trending
move into the late trading. Beware of those to set up trade
opportunities. If you are fairly new at this, then the
sidelines is a good position to take until the Thursday
session.

If the market opens lower on Wednesday, a buying opportunity
should present itself if the move can reverse from, or
above, the initial support zones. If that plays out, then
the resistance at the 1321.00-1321.50 area on the SP futures
and 1921.50-1922.50 area on the Nasdaq futures could be
pivotal if they are tested. However, if that early dip and
rally doesn't pan out, then a test of the Tuesday lows could
be in the cards. Those were aggressively bought on Tuesday,
and the bulls need to defend those areas to avoid a
potential trip below the 1300 level on the SP futures before
a turn around can occur.


The initial resistance is at the 1317.50 level on the SP
futures and 1915.50 level on the Nasdaq futures. If those
are cleared then the 1321.00-1321.50 area on the SP futures
and 1921.50-1922.50 area on the Nasdaq futures would be
next. If the market is weak, those areas won't be broken. If
they are broken, and the market doesn't quickly reverse,
then the 1327.50-1328.00 area on the SP futures and 1934.50-
1935.00 area on the Nasdaq futures could be tested. The way
the market has been acting, those would be sold if reached.
If things have changed, and those areas are cleared, then
there should be good resistance at the 1332.50-1333.25 area
on the SP futures and 1942.50-1943.25 area on the Nasdaq
futures. If the market gets wings, then a rally towards the
1336.50-1337.00 area on the SP futures and 1949.50-1950.25
area on the Nasdaq futures is possible.

The initial support is at the 1313.75-1313.00 area on the
SP futures and 1908.75-1907.75 area on the Nasdaq futures.
If the market can not bounce off of those areas, then look
for some support at the 1310.75-1310.00 area on the SP
futures and 1901.25-1900.25 area on the Nasdaq futures. If
the Tuesday lows were significant, those shouldn't be
broken. If those do break, then a test of the 1305.50-
1303.00 area on the SP futures and 1895.00-1892.50 area on
the Nasdaq futures must hold. If it doesn't, then we should
see the 1298.50-1297.50 area on the SP futures and 1886.50-
1884.75 area on the Nasdaq futures. If those are reached,
and the market doesn't reverse, then a panic sell-off is
underway and the 1285-1282 zone could be seen before buyers
step to the plate.

September 2008 SP futures resistance
symbols: emini = esu8 / big contract =spu8

1317.50
1321.00-1321.50
1327.50-1328.00
1332.50-1333.25
1336.50-1337.00

September 2008 SP futures support
symbols: emini = esu8 / big contract =spu8

1313.75-1313.00
1310.75-1310.00
1304.00-1303.00
1298.50-1297.50

September 2008 Nasdaq futures resistance
symbols: emini = nqu8 / big contract = ndu8

1915.50
1921.50-1922.50
1934.50-1935.00
1942.50-1943.25
1949.50-1950.50


September 2008 Nasdaq futures support
symbols: emini = nqu8 / big contract = ndu8

1908.75-1907.75
1901.25-1900.25
1895.00-1892.50
1886.50-1884.75

September 2008 Dow futures resistance
symbols: emini = ymu8

11825
11848-11852
11899-11902
11952-11957
11999-12004

September 2008 Dow futures support
symbols: emini = ymu8

11788-11783
11758-11752
11720-11708
11654-11648

September 2008 Russell futures resistance
symbols: emini = er2u8 / big contract = er2u8

711.30
714.50-714.90
718.60-719.10
722.00-722.40
724.80-725.30

September 2008 Russell futures support
symbols: emini = er2u8 / big contract = er2u8

706.00-705.50
703.00-702.50
698.70-697.90
694.20-693.70


---------------------------

REMINDER:

Real Time subscribers can view these updates on
the web at this site:

http://www.tradestalker.com/members


---------------------------


Good Trading,
Mike Reed

Copyright (c) 2008 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.

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.
*************************************************

TradeStalker's RBI Update 06/23/08

.................................................

TradeStalker's

R.B.I. Trader's Update

6 / 23 / 2008

(Published Since 1996)

...............................................


Dateline: 6:36 pm eastern time, 6/23/2008

Trading updates are posted through out the day to "real
time" subscribers on our Instant Messenger Site. Go here to
sign up now! http://www.tradestalker.com/order-page.htm

The market opened higher on Monday, but early strength was
sold about 15 minutes into the trading day and the market
backed off. The SP futures dropped from 1325.50 down to
1317.50 over the next 20 minutes, and then buyers stepped to
the plate. The SP futures bounced back to 1324.00, but the
move fizzled and when the 1320.50 level broke, it sent the
market down to make new lows for the day. The SP futures
reached 1316.25, which was just over the 1316.00-1315.50
support and then bounced feebly to 1321.00. That move was
quickly reversed and the market sold off to test the lows
again. The test passed as the SP futures reached 1316.75 and
then reversed. The market went back up to test the highs but
fell short. The SP futures reached 1324.00 and then after
making a 1-2-3 type of top, the market reversed and chopped
its way towards the lows by the close.

On Tuesday we get the Consumer Confidence number 30 minutes
into the trading day. On Monday, the SP500 cash and futures
had an inside day, while all the other averages made lower
lows than they made last Friday. Also, the blue chip
averages finished near unchanged, but the small cap and tech
averages were sold off pretty hard.

The market is still very oversold, but the momentum and
trends need to turn around before the odds favor the long
side. We will likely get more two sided action before the
Wednesday FOMC decision is released. Until things change,
the bounces should offer good shorting opportunities when
they fizzle and stall. The market needs to begin making
higher highs and higher lows daily chart before a trend
change occurs bigger picture.

On Wednesday morning, look for a buying opportunity if there
is early weakness and the move stalls and/or reverses back
to the upside. If that plays out in the first 40 minutes of
trading and then the market rallies back to the initial
resistance areas, then it should set up a shorting
opportunity if the move stalls. However, if the market plows
through that resistance and then takes out the highs from
Monday, then a decent counter-trend rally can be in gear.

The initial resistance is at the 1320.50 level on the SP
futures and the 1930.25 level on the Nasdaq futures. Those
last hour highs from Monday tested a few times before
dropping late on Monday and need to be exceeded to get
anything going on the upside. If those are broken, then the
key resistance is at the 1324.00-1324.50 area on the SP
futures and the 1938.50-1941.50 area on the Nasdaq futures.
If those are both broken, then the tide could be turning for
a rally into end of month. The next resistance would be at
the 1329.50-1330.50 area on the SP futures and the 1949.50-
1950.50 area on the Nasdaq futures.

The initial support is at the 1316.50-1315.50 area on the SP
futures and the 1915.50-1914.50 area on the Nasdaq futures.
If those are broken in the early going and the market
reverses back up through them, then a decent rebound could
be underway. If that doesn't play out, then the next support
is at the 1309.50-1308.50 area on the SP futures and the
1908.50-1907.75 area on the Nasdaq futures. If the market
gets there and cannot reverse course, then the 1304.00-
1303.00 area on the SP futures and the 1899.75-1898.25 area
on the Nasdaq futures could be in the cards before the
market gets turned back around to the upside.



September 2008 SP futures resistance
symbols: emini = esu8 / big contract =spu8

1320.50
1324.00-1324.50
1329.50-1330.50


September 2008 SP futures support
symbols: emini = esu8 / big contract =spu8

1316.50-1315.50
1309.50-1308.50
1304.00-1303.00


September 2008 Nasdaq futures resistance
symbols: emini = nqu8 / big contract = ndu8

1930.25
1938.50-1941.50
1949.50-1950.50


September 2008 Nasdaq futures support
symbols: emini = nqu8 / big contract = ndu8

1915.50-1914.50
1908.50-1907.75
1899.75-1898.25


September 2008 Dow futures resistance
symbols: emini = ymu8

11848
11877-11883
11952-11957


September 2008 Dow futures support
symbols: emini = ymu8

11812-11809
11758-11752
11758-11752


September 2008 Russell futures resistance
symbols: emini = er2u8 / big contract = er2u8

725.70-726.10
728.00-728.40
732.20-732.80


September 2008 Russell futures support
symbols: emini = er2u8 / big contract = er2u8

718.00-717.50
714.20-713.90
709.70-709.40


---------------------------

REMINDER:

Real Time subscribers can view these updates on
the web at this site:

http://www.tradestalker.com/members


---------------------------


Good Trading,
Mike Reed

Copyright (c) 2008 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.

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.
*************************************************

TradeStalker's RBI Update 06/22/08

.................................................

TradeStalker's

R.B.I. Trader's Update

6 / 22 / 2008

(Published Since 1996)

...............................................


Dateline: 5:36 pm eastern time, 6/22/2008

Trading updates are posted throughout the day to "real
time" subscribers on our Instant Messenger Site. Go here to
sign up now! http://www.tradestalker.com/order-page.htm

The market gapped down on Friday and dropped steadily for
the first 40 minutes of trading. A bounce back fizzled and
after the 1328.50 level was broken, the selling was
persistent into the last hour of trading. The SP futures
reached 1315.25 while the Nasdaq futures fell to 1927.50 and
then a feeble bounce lifted the market a bit before the
close.

The SP500 cash has made 5 waves down on the daily "line-on-
close" chart. If the market doesn't get turned around very
soon, then a drop to the 1302 level on the SP futures is
possible. The first leg off the top was 70 points on the SP
futures. If this leg down is equal to the first leg, that
would target 1302 for a low.

In any case, the market should be close to a trading low.
The last week of the month, and quarter, has an upside bias.
In addition to that, the internal gauges I keep are getting
very oversold. My 4 day thrust is at -.53, the 4 day volume
ratio is a miniscule .33, and short term breadth oscillators
are also at extremes. These can lag for a day sometimes, but
it is a heads-up that a reversal to the upside should be
coming soon. If that happens and we get an up-down-up
pattern to the 1372-1374 area on the SP futures over the
next week, it could set the stage for a very sharp drop.
We'll see about that if we get there.

On Monday look for early weakness to reverse to set up a
trade on the long side. If that plays out, the first decent
bounce will likely set up a shorting opportunity as long as
the initial resistance zones are not cleared. It takes a
break of the initial resistance zones, that can then hold on
a pullback, to turn the short term trends back up.

The initial resistance is at the 1323.00-1323.50 area on the
SP futures and the 1949.50-1950.25 area on the Nasdaq
futures. If the market doesn't fail there, then the upside
could get in gear. The next hurdles would be at the 1329.50-
1330.25 area on the SP futures and the 1958.25-1959.50 area
on the Nasdaq futures. If those are not a problem, then a
move towards the 1336.50-1337.00 area on the SP futures and
the 1974.00-1975.50 area on the Nasdaq futures would be key
resistance. If a rally gets that far and there is no
stopping it, then the 1344.50 level on the SP futures and
the 1994.50 level on the Nasdaq futures would be next. If
the market goes into a melt-up move, then the next good
resistance is near the 1349.75 level on the SP futures and
the 2001.75 level on the Nasdaq futures.

The initial support is at the 1316.00-1315.50 area on the SP
futures and the 1932.50-1931.75 area on the Nasdaq futures.
If those are not quickly reversed, then the door is open for
one more sharp sell-off before a bottom forms. A move to the
1309.50-1308.50 area on the SP futures and the 1920.50-
1919.25 area on the Nasdaq futures that reverses should set
up a trade on the long side. However, if the market gets
down there and keeps going, then a reversal must occur from
the 1303.00-1302.00 area on the SP futures and the 1901.00-
1899.75 area on the Nasdaq futures, otherwise we could have
a mini-crash under way.



September 2008 SP futures resistance
symbols: emini = esu8 / big contract =spu8

1323.00-1323.50
1329.50-1330.25
1336.50-1337.00
1344.50
1349.75


September 2008 SP futures support
symbols: emini = esu8 / big contract =spu8

1316.00-1315.50
1309.50-1308.50
1303.00-1302.00


September 2008 Nasdaq futures resistance
symbols: emini = nqu8 / big contract = ndu8

1949.50-1950.25
1958.25-1959.50
1974.00-1975.50
1994.50
2001.75


September 2008 Nasdaq futures support
symbols: emini = nqu8 / big contract = ndu8

1932.50-1931.75
1920.50-1919.25
1901.00-1899.75


September 2008 Dow futures resistance
symbols: emini = ymu8

11875-11882
11952-11957
11999-12004
12068
12115


September 2008 Dow futures support
symbols: emini = ymu8

11820-11816
11758-11752
11711-11708


September 2008 Russell futures resistance
symbols: emini = er2u8 / big contract = er2u8

728.00-728.40
732.20-732.80
738.10-738.40
743.40
748.00


September 2008 Russell futures support
symbols: emini = er2u8 / big contract = er2u8

718.90-718.40
714.20-713.90
709.70-709.40


---------------------------

REMINDER:

Real Time subscribers can view these updates on
the web at this site:

http://www.tradestalker.com/members


---------------------------


Good Trading,
Mike Reed

Copyright (c) 2008 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.

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.
*************************************************

TradeStalker's RBI Update 06/19/08

.................................................

TradeStalker's

R.B.I. Trader's Update

6 / 19 / 2008

(Published Since 1996)

...............................................


Dateline: 6:46 pm eastern time, 6/19/2008

Trading updates are posted through out the day to "real
time" subscribers on our Instant Messenger Site. Go here to
sign up now! http://www.tradestalker.com/order-page.htm

After a flat open the market popped up and reversed from
1344 on the SP futures, and they dropped 11.50 points to
1332.50 before buyers stepped to the plate. The rebound was
turned back from the 1342.50-1343.00 zone, and that was a
lid for 2 afternoon pullbacks. The last drop stalled and
reversed from just over the 1336.50 support, and then the
market turned back up. The 1343 level was exceeded and
buyers piled on and drove the market higher. The SP futures
reached 1349.75 before reversing, and then the blue chips
gave back around half of the afternoon gains in the last
hour of trading.

With the strong Nasdaq, but relatively weaker SP and Dow,
the mixed bag makes for a tough call. If the Thursday highs
are reached, the market should have a very tough time
getting through them. Even if they do, the move likely won't
stick for very long before profits are taken on longs. On
Friday look for early strength to set up a good shorting
opportunity. If the market obliges, and if the initial
support can hold on a pullback and the move reverses, then
there could be another run on the upside. The market doesn't
act like it's going to fall apart, so a deeper drop that
breaks the Thursday lows and then reverses back up through
them would set up a trade on the long side, if only for a
scalp.

The initial resistance is at the 1344.50 level on the SP
futures and the 1994.50 level on the Nasdaq futures. Those
are minor levels, so if the market doesn't turn back from
there, then the big hurdles are at the 1349.75 level on the
SP futures and the 2001.75 level on the Nasdaq futures. The
market was only up there for a few minutes before reversing
on Thursday, so a move to those areas should be hard to get
through. If those are pushed through, then a move to the
1351.50-1352.00 area on the SP futures and the 2006.75-
2008.00 area on the Nasdaq futures could be reversal zones,
and a move over then back under the 1350 level on the SP
futures should trigger some selling. However, if the market
gets over that resistance and keeps going, then look for a
test of the 1358.00-1358.50 area on the SP futures and the
2015.50-2016.00 area on the Nasdaq futures.

The initial support is at the 1341.75 level on the SP
futures and the 1988.00 on the Nasdaq futures. If those
levels are broken, then the 1337.00-1336.50 area on the SP
futures and the 1976.00-1975.00 area on the Nasdaq futures
would be key support. If those areas are not able to hold,
then a test of the 1333.00-1332.25 area on the SP futures
and the 1960.50-1959.50 area on the Nasdaq futures is
probably in the cards. The market was well bid at those
areas on Thursday, so if the market gets there again beware
of a reversal. However, if those areas do not hold, then one
more push down to the 1326.50-1326.00 area on the SP futures
and the 1952.50-1951.50 area on the Nasdaq futures could be
in the cards. If the market is going to start a good rally,
the downside shouldn't be exceeded by much. If the market
cannot start a good rally from there, then the market is in
trouble and there could be an air-pocket type drop if those
aren't quickly reversed.



September 2008 SP futures resistance
symbols: emini = esu8 / big contract =spu8

1344.50
1349.75
1351.50-1352.00
1358.00-1358.50


September 2008 SP futures support
symbols: emini = esu8 / big contract =spu8

1341.75
1337.00-1336.50
1333.00-1332.25
1326.50-1326.00


September 2008 Nasdaq futures resistance
symbols: emini = nqu8 / big contract = ndu8

1994.50
2001.75
2006.75-2008.00
2015.50-2016.00


September 2008 Nasdaq futures support
symbols: emini = nqu8 / big contract = ndu8

1988.00
1976.00-1975.00
1960.50-1959.50
1952.50-1951.50


September 2008 Dow futures resistance
symbols: emini = ymu8

12068
12115
12131-12137
12184-12189


September 2008 Dow futures support
symbols: emini = ymu8

12028
12007-12004
11981-11977
11932-11927


September 2008 Russell futures resistance
symbols: emini = er2u8 / big contract = er2u8

738.40
740.90
741.70-742.20
745.20-745.80


September 2008 Russell futures support
symbols: emini = er2u8 / big contract = er2u8

734.40
731.50-731.20
725.70-725.40
721.00-720.60


---------------------------

REMINDER:

Real Time subscribers can view these updates on
the web at this site:

http://www.tradestalker.com/members


---------------------------


Good Trading,
Mike Reed

Copyright (c) 2008 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.

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.
*************************************************

TradeStalker's RBI Update 06/18/08

.................................................

TradeStalker's

R.B.I. Trader's Update

6 / 18 / 2008

(Published Since 1996)

...............................................


Dateline: 6:50 pm eastern time, 6/18/2008


Trading updates are posted through out the day to "real
time" subscribers on our Instant Messenger Site. Go here to
sign up now! http://www.tradestalker.com/order-page.htm

The market gapped down on Wednesday and the SP futures
bounced from 1343.50 (which was one point over the 1342.50
support) to 1348.50. However, the bounce was sold and the
market continued to sell off until reaching the 1336.50
support on the SP futures and the 1952.50 level on the
Nasdaq futures. Buyers stepped to the plate and the market
turned back up. After breaking through the 1342.50-1343.00
zone, it held on a pullback, and then the SP futures
sprinted to 1348.00. That was at the updated 1348-1349
resistance zone, and after getting there the move was
quickly reversed. A pullback held at 1343.00, but only
bounced to 1345.50 before rolling over again. The SP futures
then broke through that 1343.00-1342.50 zone and kept going
until the market tested/broke its early lows. The SP futures
reached 1335.00 and then bounced back, leaving a double
bottom on the charts. However, the move lost its gusto and
was sold off one more time. The averages all held their
ground, and around 2 pm the market reversed back to the
upside. The SP futures reached 1346.50 with about 30 minutes
left in stock trading, and then the market backed off with
the SP futures dropping 8.50 points to 1338.00 in the final
minutes of trading.

Back and forth action was expected on Wednesday and despite
the narrowest trading range for the SP futures all month
(just 13.20 points on the big contract), there was a lot of
swings both ways to take advantage of. Below are the SP
(maxi) and mini Nasdaq intraday swings on Wednesday:

SPU8 DIFF NQU8 DIFF

1343.50 1969.00
1348.20 +4.70 1975.25 +6.25
1336.50 -11.70 1952.50 -22.75
1348.00 +11.50 1978.50 +26.00
1335.10 -12.90 1954.75 -23.75
1341.50 +6.40 1966.25 +11.50
1335.00 -6.50 1954.25 -12.00
1346.50 +11.50 1973.25 +19.00
1338.10 -8.10 1959.25 -14.00

That's a travel range of 66.50 points on the SP futures and
135.25 points on the Nasdaq futures, so intraday volatility
was alive on Wednesday. That kind of action within narrow
daily ranges was called "tension on the tape" in the old
days, meaning the market is getting ready for a sizable move
to begin soon.

On Thursday we get the Initial Claims before the open and
then the Leading Indicators at 10 am. Those could be an
excuse for the market to break out of the Wednesday ranges.
For now, the market is in "short bounces" mode, and will
stay that way unless/until the 1346.50 level on the SP
futures and the 1973.50 level on the Nasdaq futures are
exceeded. The market must get over those afternoon highs and
not quickly reverse, to get anything going on the upside. On
the bottom side, the afternoon double bottoms need to be
broken and held, to get the ball rolling on the downside. If
that occurs, then we could easily see the 1333.25 low from
June 12th reached, and could spill towards the 1326.50-
1326.00 area for a big test of the market's strength, or
weakness.

If there is early strength on Thursday and the market
stalls/reverses below the 1346.50 level on the SP futures
and the 1973.50 level on the Nasdaq futures, then it should
set up a good trade on the short side in the early going.
Thereafter, another drop must hold the initial support
zones. If those are broken and the market doesn't quickly
reverse, then we could go for that 1326.50-1326.00 area on
the SP futures.

The initial resistance is at the 1346.00-1346.50 area on the
SP futures and the 1972.75-1973.25 area on the Nasdaq
futures. If the market pops up there early and the move
reverses, then it should set up a shorting opportunity.
However, if the market gets up there and doesn't show any
sign of turning, then the 1351.50-1352.00 area on the SP
futures and the 1978.50-1979.50 area on the Nasdaq futures
could be magnets. If the market gets there and doesn't back
off, then the big hurdles on Thursday are at the 1355.50-
1356.00 area on the SP futures and the 1985.25-1986.75 area
on the Nasdaq futures. If those are exceeded, then we could
see the SP futures move up to the 1360.75-1361.50 area.

The initial support is at the 1335.50-1334.75 area on the SP
futures and the 1952.50-1951.75 area on the Nasdaq futures.
If those are broken, then the 1333.25 level on the SP
futures and the 1948.50 level on the Nasdaq futures would be
next. If the market doesn't bounce off of those levels, then
we could be going towards the 1326.50-1326.00 area on the SP
futures and the 1938.25-1937.50 area on the Nasdaq futures.
If the market doesn't hold those areas, then the door is
open for a move down towards the 1320.50-1319.50 area on the
SP futures and the 1920.50-1919.50 area on the Nasdaq
futures. If those are broken, then the SP futures could drop
another 10 points fast and reach the 1310.00-1309.50 area
before a bounce begins.

September 2008 SP futures resistance
symbols: emini = esu8 / big contract =spu8

1346.00-1346.50
1351.50-1352.00
1355.50-1356.00
1360.75-1361.50


September 2008 SP futures support
symbols: emini = esu8 / big contract =spu8

1335.50-1334.75
1333.25
1326.50-1326.00
1320.50-1319.50
1310.00-1309.50


September 2008 Nasdaq futures resistance
symbols: emini = nqu8 / big contract = ndu8

1972.75-1973.25
1978.50-1979.50
1985.25-1986.75


September 2008 Nasdaq futures support
symbols: emini = nqu8 / big contract = ndu8

1952.50-1951.75
1948.50
1938.25-1937.50
1920.50-1919.50


September 2008 Dow futures resistance
symbols: emini = ymu8

12089-12091
12148-12153
12183-12187


September 2008 Dow futures support
symbols: emini = ymu8

11998-11993
11979
11904-11897
11818-11815


September 2008 Russell futures resistance
symbols: emini = er2u8 / big contract = er2u8

733.30-733.80
736.10-736.80
739.00-739.40


September 2008 Russell futures support
symbols: emini = er2u8 / big contract = er2u8

729.10-728.20
725.50
722.50-722.10
716.50-716.00


---------------------------

REMINDER:

Real Time subscribers can view these updates on
the web at this site:

http://www.tradestalker.com/members


---------------------------


Good Trading,
Mike Reed

Copyright (c) 2008 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.

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.
*************************************************

TradeStalker's RBI Update 06/17/08

.................................................

TradeStalker's

R.B.I. Trader's Update

6 / 17 / 2008

(Published Since 1996)

...............................................


Dateline: 6:26 pm eastern time, 6/17/2008


Trading updates are posted through out the day to "real
time" subscribers on our Instant Messenger Site. Go here to
sign up now! http://www.tradestalker.com/order-page.htm

The market gapped up on Tuesday, but the 1369.50-1370.25 key
resistance area on the SP futures wasn't broken and the
market sold off. The SP futures dropped from 1369.00 to
1362.50 and then bounced, but the move fizzled after getting
to 1367.00 and the market fell again. Another bounce also
failed and the SP futures went to the 1357.75-1357.25
support zone and the market bounced back a bit. The bounce
didn't stick and the SP futures fell to 1354.75 and then
turned up. The SP futures bounced back to 1361.25 and then
turned back. The downside took hold and selling took the
market to test the early afternoon lows. Off of 1356.00, the
SP futures popped back to 1359.75 and then headed lower
again as the market fell to new lows for the day. The SP
futures reached 1353.50 with just over 30 minutes left in
stock trading and then bounced back. The 1356.00 level was
reached, then the market dropped again as the SP futures
reached the 1352.50-1351.50 zone with 5 minutes left in
futures trading.

The Tuesday action was a trend day for the most part. In
addition, the SP and Dow cash and futures both made outside
days on Tuesday. In the Sunday night update I stated that
the market could extend its gains for a day or so and then
potentially set up for a sharp drop. At the moment, it looks
like it began on Tuesday's open.

Back to back trend days are rare, so on Wednesday expect
two-sided action with both sides being tradable. The market
will need to get over the 1360.75-1361.50 area on the SP
futures and not quickly reverse, to get the market out of
potential trouble. The better setups should occur on the
bounces that stall out as long as that area is not broken.

The initial resistance is at the 1356.00 level on the SP
futures and the 1989.25 level on the Nasdaq futures. If the
market doesn't turn down on a bounce to those levels, then
there should be strong resistance at the 1360.75-1361.50
area on the SP futures and the 1996.50-1997.50 area on the
Nasdaq futures. If the market is weak, then those areas will
be sold if reached. If those are exceeded, then the door is
open for a run up towards the 1365.00-1365.50 area on the SP
futures and the 2003.25-2004.00 area on the Nasdaq futures.
If the market gets there and does not reverse, then a rally
to test the 1369.50-1370.25 area on the SP futures and the
2008.50-2010.25 area on the Nasdaq futures could be in the
cards. If that occurs and the move stalls, it sets up
another good shorting opportunity.

The initial support is at the 1352.00-1351.25 area on the SP
futures and the 1980.25-1979.50 area on the Nasdaq futures.
If those areas are not quickly reversed, then the market
could be in for more trouble. The next support is at the
1347.00-1346.50 area on the SP futures and the 1975.00-
1974.25 area on the Nasdaq futures. If those are tested and
the market reverses, it could lead to a decent bounce.
However, if those are easily broken, then the market should
head towards the 1342.50-1342.00 area on the SP futures and
the 1963.75-1963.00 area on the Nasdaq futures. If the
market gets down there and it still shows no signs of
turning around, then only the 1336.50 level on the SP
futures and the 1952.75 level on the Nasdaq futures is in
the way of a test, or break, of last week's 1333.25 low on
the SP futures.



September 2008 SP futures resistance
symbols: emini = esu8 / big contract =spu8

1356.00
1360.75-1361.50
1365.00-1365.50
1369.50-1370.25


September 2008 SP futures support
symbols: emini = esu8 / big contract =spu8

1352.00-1351.25
1347.00-1346.50
1342.50-1342.00
1336.50


September 2008 Nasdaq futures resistance
symbols: emini = nqu8 / big contract = ndu8

1989.25
1996.50-1997.50
2003.25-2004.00
2008.50-2010.25


September 2008 Nasdaq futures support
symbols: emini = nqu8 / big contract = ndu8

1980.25-1979.50
1975.00-1974.25
1963.75-1963.00
1952.75


September 2008 Dow futures resistance
symbols: emini = ymu8

12185
12224-12228
12275-12279
12347-12351


September 2008 Dow futures support
symbols: emini = ymu8

12151-12148
12104-12098
12072-12067
12002


September 2008 Russell futures resistance
symbols: emini = er2u8 / big contract = er2u8

738.90
741.40-741.70
743.00-743.30
747.70-748.20


September 2008 Russell futures support
symbols: emini = er2u8 / big contract = er2u8

736.40-736.10
732.50-732.20
730.00-729.60
726.80


---------------------------

REMINDER:

Real Time subscribers can view these updates on
the web at this site:

http://www.tradestalker.com/members


---------------------------


Good Trading,
Mike Reed

Copyright (c) 2008 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.

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.
*************************************************

TradeStalker's RBI Update 06/16/08

.................................................

TradeStalker's

R.B.I. Trader's Update

6 / 16 / 2008

(Published Since 1996)

...............................................


Dateline: 6:46 pm eastern time, 6/16/2008


Trading updates are posted through out the day to "real
time" subscribers on our Instant Messenger Site. Go here to
sign up now! http://www.tradestalker.com/order-page.htm

Please excuse this resend. The labels for the futures tables
at the bottom of the update were incorrect. The numbers are
for the September futures, not June futures as it was
labeled
earlier. This has been fixed in the tables below.

Mike

The market opened lower on Monday and just above the
1351.75-1351.00 key support area on the SP futures, and
turned up immediately. After some choppy upside, the market
got going on the upside and the SP futures went to the
1362.50-1363.00 initial resistance before reversing. Off of
the 1363.50 high, the market pulled back but held at the
updated 1357.25 level. The market reversed back up from
there, and the market rallied back towards the highs, as the
market turned range-bound. The SP futures reversed from
1362.75 and quickly dropped to 1357.50, and that drop was
reversed just as fast as the market sprinted right back up
to the 1362.75 level. After a hesitation, they pushed
through to new highs and the SP futures rallied to 1367.50
before pulling back. The pullback held right at the updated
1362.50 level on the SP futures, and the market turned back
up. The averages tested their highs, but fell just shy
before reversing back down . The 1362.50 level on the sp
futures was broken, leaving a 1-2-3 top in place. The market
bounced, but that pop up move was sold and the market
slipped lower into the close.

We get the PPI and Housing Starts data before the open on
Tuesday. The intraday charts are forming rising wedge
patterns, and the late break under 1362.50 on the SP futures
put a topping pattern in place. The market must get over the
1366.00-1367.50 area on the SP futures and not quickly
reverse to avoid potential trouble on Tuesday. If there is
early weakness, then the 1357.75-1357.25 area on the SP
futures will have to be defended, otherwise the market will
be under pressure again and the market would be vulnerable
to a decent sized sell-off on Tuesday.

The initial resistance is at the 1364.50 level on the SP
futures and 1997.50 level on the Nasdaq futures. If those
are cleared, then the 1367.00-1367.50 area on the SP futures
and 2002.50-2003.00 area on the Nasdaq futures would be
next. The market made double tops at those areas on Monday,
and if they are not rejected, then the market should pop to
the 1369.50-1370.25 area on the SP futures and 2008.50-
2010.25 area on the Nasdaq futures. Those are short term key
resistance areas, so if the move doesn't reverse from those
zones, then we could head back towards the 1379.50-1380.50
area on the SP futures on this leg up before things turn
back down.

The initial support is at the 1358.50 level on the SP
futures and 1987.00 level on the Nasdaq futures, and then
what should be key support at the 1357.75-1357.25 area on
the SP futures and 1980.50-1979.00 area on the Nasdaq
futures. If those areas are not defended, then the market
could hit an air-pocket type of move towards the 1352.50-
1352.00 area on the SP futures and 1963.75-1963.00 area on
the Nasdaq futures. If those areas do not hold, then the
1346.50 level on the SP futures and 1952.75 level on the
Nasdaq futures need to hold if the market is going to avoid
a deeper sell-off towards the 1341.75-1340.50 area on the SP
futures.


Sept 2008 SP futures resistance
symbols: emini = esu8 / big contract =spu8

1364.50
1367.00-1367.50
1369.50-1370.25

Sept 2008 SP futures resistance
symbols: emini = esu8 / big contract =spu8

1358.50
1357.75-1357.25
1352.50-1352.00
1346.50

Sept 2008 Nasdaq futures resistance
symbols: emini = nqu8 / big contract = ndu8

1997.50
2002.50-2003.00
2008.50-2010.25

Sept 2008 Nasdaq futures support
symbols: emini = nqu8 / big contract = ndu8

1987.00
1980.50-1979.00
1963.75-1963.00
1952.75

Sept 2008 Dow futures resistance
symbols: emini = ymu8

12295
12320-12325
12347-12351

Sept 2008 Dow futures support
symbols: emini = ymu8

12251
12238-12233
12213-12206
12184

Sept 2008 Russell futures resistance
symbols: emini = er2u8 / big contract = er2u8

741.50
744.00-744.50
748.20-748.60

Sept 2008 Russell futures support
symbols: emini = er2u8 / big contract = er2u8

736.80
734.80-734.50
730.00-729.60
726.80


---------------------------


REMINDER:

Real Time subscribers can view these updates on
the web at this site:

http://www.tradestalker.com/members


---------------------------


Good Trading,
Mike Reed

Copyright (c) 2008 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.

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.
*************************************************

TradeStalker's RBI Update 06/15/08

.................................................

TradeStalker's

R.B.I. Trader's Update

6 / 15 / 2008

(Published Since 1996)

...............................................


Dateline: 6:28 pm eastern time, 6/15/2008


Trading updates are posted through out the day to "real
time" subscribers on our Instant Messenger Site. Go here to
sign up now! http://www.tradestalker.com/order-page.htm

It was a rollercoaster ride for the market last week. On
Monday and Tuesday things were okay, but on Wednesday and
Thursday the market was hit with selling. On Friday the
action was volatile and two-sided action, with an early
rally followed by a midday selloff and ending with a good
end of day rally. When the dust was settled, the week ended
with a very mixed market. The Dow gained 97 points, the
SP500 ended down a fraction, while the Nasdaq 100 lost 24
points for the week.

The daily charts look like a short term bottom could be in
place and the path of least resistance should be to the
upside, or at worst more two-sided action, early in the
week. The key will be the ability to hold above the last
hour lows at the 1351.75-1351.00 area on the SP futures and
the 1957.50-1956.75 area on the Nasdaq futures on Monday.
The market will be in "buy the dips" mode as long as those
are defended.

In any case, the volatility is picking up pace and there
should be some big moves coming. On the upside, there will
likely be reactions around resistance zones that should be
tradable, if only for a quick pullback. If the market does
move higher over the next day or two, something I'll be
watching is the VIX. If it continues lower and then prices
lose momentum, then a reversal will likely set the stage for
a significant drop.

On Monday, if there is early strength, look for a shorting
opportunity if the move stalls/reverses in the first 40
minutes of trading. If the market obliges, beware that the
first decent pullback will likely set up a good buying
opportunity, as long as it holds at/above the 1351.75-
1351.00 area on the SP futures and the 1957.50-1956.75 area
on the Nasdaq futures. If those areas are reached and the
move doesn't quickly reverse, then a high for the morning is
likely in place and the market would be back in a bit of
trouble short term.

The initial resistance is at the 1362.50-1363.00 area on the
SP futures and the 1978.25-1979.00 area on the Nasdaq
futures. If those areas are not a problem, then there should
be strong resistance at the 1369.50-1370.25 area on the SP
futures and the 1987.50-1988.50 area on the Nasdaq futures.
If those are reached and the move stalls out, beware of a
reversal. However, if the market plows right through those
areas, then there should be some resistance at the 1373.25-
1374.00 and 1999.50-2001.25 areas. If a rally doesn't
reverse from up there, then the key resistance is at the
1379.50-1380.50 area on the SP futures and the 2011.25-
2013.00 area on the Nasdaq futures.

The initial support is at the 1358.25-1357.75 area on the SP
futures and the 1968.50-1968.25 area on the Nasdaq futures.
If those are not bought, then the market needs to hold the
1354.50 level on the SP futures and the 1961.50 level on the
Nasdaq futures to avoid turning the trends. If the market
breaks those levels, then it would need to quickly turn back
up from the 1351.75-1351.00 area on the SP futures and the
1957.50-1956.75 area on the Nasdaq futures to avoid trouble.
If the bulls do not defend those areas, then the trends will
have rolled over and a test of the 1347.00-1346.50 area on
the SP futures and the 1952.75-1951.75 area on the Nasdaq
futures would need to hold, otherwise something is wrong and
the SP500 cash might have its eye on going down to the 1328-
1326 area as the market makes a new low on this leg down.



June 2008 SP futures resistance
symbols: emini = esm8 / big contract =spm8

1362.50-1363.00
1369.50-1370.25
1373.25-1374.00
1379.50-1380.50


June 2008 SP futures support
symbols: emini = esm8 / big contract =spm8

1358.25-1357.75
1354.50
1351.75-1351.00
1347.00-1346.50
1328-1326 {SP500 cash}


June 2008 Nasdaq futures resistance
symbols: emini = nqm8 / big contract = ndm8

1978.25-1979.00
1987.50-1988.50
1999.50-2001.25
2011.25-2013.00


June 2008 Nasdaq futures support
symbols: emini = nqm8 / big contract = ndm8

1968.50-1968.25
1961.50
1957.50-1956.75
1952.75-1951.75


June 2008 Dow futures resistance
symbols: emini = ymm8

12319-12324
12347-12351
12365-12372
13458-12465


June 2008 Dow futures support
symbols: emini = ymm8

12885-12881
12250
12226-12221
12187-12184


June 2008 Russell futures resistance
symbols: emini = er2m8 / big contract = er2m8

734.70-735.10
737.90-738.30
742.50-742.90
748.20-748.60


June 2008 Russell futures support
symbols: emini = er2m8 / big contract = er2m8

731.10
728.80
727.40-727.00
723.90-723.60


---------------------------

REMINDER:

Real Time subscribers can view these updates on
the web at this site:

http://www.tradestalker.com/members


---------------------------


Good Trading,
Mike Reed

Copyright (c) 2008 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.

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.
*************************************************

TradeStalker's RBI Update 06/12/08

.................................................

TradeStalker's

R.B.I. Trader's Update

6 / 12 / 2008

(Published Since 1996)

...............................................


Dateline: 6:17 pm eastern time, 6/12/2008


Trading updates are posted through out the day to "real
time" subscribers on our Instant Messenger Site. Go here to
sign up now! http://www.tradestalker.com/order-page.htm

The market opened higher on Thursday, after reaching the key
1336-1334 support zone on Wednesday's close, and rallied to
1355.50 on the September SP futures. A pullback to 1347.75
followed, and then the market went back up to test the
highs. The move fizzled at 1355.00 on the SP futures, and
after some churning the market started to roll over to the
downside. I noted if the 1351.50 level was not broken, then
we could head for 1343-1342 area.. The SP futures then
popped to exactly 1351.50, and then broke lower and fell
steadily until the SP futures reached 1342.25 just after
2pm, and the market bounced back. The bounce fizzled at the
1346.50 level on the SP futures and the selling resumed as
the SP futures fell to 1333.25. The move reversed from there
and the market regained about half of the drop by the close.

We get the CPI before the open on Friday. The market is
still very oversold, and the late day come-back was a plus
after making new lows on this leg down. On Friday we will
likely see more two-sided action, so look for opportunities
in both directions. If there is early strength and the move
stalls/ reverses in the first 20-40 minutes of trading, it
should set up a shorting opportunity. On the downside, it
looks like the initial support needs to hold on a pullback,
otherwise the move could test or break the Thursday lows.

The initial resistance is at the 1344.75 level on the SP
futures and 1940.00 level on the Nasdaq futures. If those
are exceeded, then there should be pivotal resistance at the
1346.00-1346.50 area on the SP futures and 1943.50-1944.25
area on the Nasdaq futures. If the market can not break and
hold those areas, then the market is still vulnerable and
could sell of sharply. However, if those areas are broken,
and the market can hold them on a pullback, then there would
be minor resistance at the 1351.50 level on the SP futures
and 1948.75 level on the Nasdaq futures. If those are
broken, then a test of the 1355.00-1355.50 area on the SP
futures and 1960.50-1961.75 area on the Nasdaq futures
should offer good resistance if the market is still in
bearish mode.

The initial support is at the 1339.00-1338.25 area on the SP
futures and 1930.25-1928.75 area on the Nasdaq futures. If
those areas do not hold, then the door is open for a test of
the 1334.00-1333.25 area on the SP futures and 1920.50-
1919.25 area on the Nasdaq futures. If the market gets down
there again, beware of a potential double bottom to form.
However, if the market can't hold those areas, then a move
to the 1330.50-1329.75 area on the SP futures and 1915.50-
1915.25 area on the Nasdaq futures could be magnets. If the
market doesn't reverse from there, then we will likely go
for the 1324.50-1324.00 area on the SP futures and 1910.25-
1909.25 area on the Nasdaq futures.


Sept 2008 SP futures resistance
symbols: emini = esu8 / big contract =spu8

1344.75
1346.00-1346.50
1355.00-1355.50
1351.50

Sept 2008 SP futures support
symbols: emini = esu8 / big contract =spu8

1339.00-1338.25
1334.00-1333.25
1330.50-1329.75
1324.50-1324.00

Sept 2008 Nasdaq futures resistance
symbols: emini = nqu8 / big contract = ndu8

19440.00
1943.50-1944.25
1948.85
1960.50-1961.75

Sept 2008 Nasdaq futures support
symbols: emini = nqu8 / big contract = ndu8

1930.25-1928.75
1920.50-1919.25
1915.50-1915.25
1910.25-1909.25

Sept 2008 Dow futures resistance
symbols: emini = ymu8

12165
12214-12219
12235
12269-12276

Sept 2008 Dow futures support
symbols: emini = ymu8

12126-12122
12089-12084
12041-12036
11983-11978

Sept 2008 Russell futures resistance
symbols: emini = er2u8 / big contract = er2u8

723.10
725.50-725.90
728.00
730.90-731.30

Sept 2008 Russell futures support
symbols: emini = er2u8 / big contract = er2u8

719.80-719.30
717.20-716.70
713.40-712.80
709.10-708.60

---------------------------

REMINDER:

Real Time subscribers can view these updates on
the web at this site:

http://www.tradestalker.com/members


---------------------------


Good Trading,
Mike Reed

Copyright (c) 2008 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.

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.
*************************************************

TradeStalker's RBI Update 06/11/08

.................................................

TradeStalker's

R.B.I. Trader's Update

6 / 11 / 2008

(Published Since 1996)

...............................................


Dateline: 8:20 pm eastern time, 6/11/2008


Trading updates are posted through out the day to "real
time" subscribers on our Instant Messenger Site. Go here to
sign up now! http://www.tradestalker.com/order-page.htm

Thursday is roll-over to September for the futures
contracts. I previously sent the update with June as
front-month. That contract will be liquid enough to
trade on Thursday, but this update fixes the roll-over
issue as the September numbers are given. My
apologies for the mix up.

Mike
-------

The market opened flat on Wednesday, but the market broke
the key support zones and that sent the SP futures to
1340.00 and the Nasdaq futures to 1938.75 about an hour into
the trading day, and the market bounced back. The move
stalled out after reaching 1348.50 on the SP futures, and
after making a little 1-2-3 top the market went back to test
the lows. Buyers stepped to the plate and the market bounced
back, however the move stalled and reversed from a 1346.50
bounce high on the SP futures and the market again went back
to test the lows. A slightly lower low at 1339.00 on the SP
futures was reversed and the market bounced back again, but
again rolled over from a lower high on the averages. Off of
a 1345.25 bounce high, a pullback to the 1340.50 level then
bounced back. After the Beige Book release the SP futures
popped up to the 1347.50 level, right at the 1347.50-1348.00
zone, and then sold off again. The 1339.00 low was broken
and the selling didn't stop until making lows at the closing
bell.

We get the Retail Sales data before the open on Thursday.
The SP500 cash and futures closed smack-dab in the middle of
that 1336-1334 key zone. Along with prices at a key spot,
nearly all of my short term internal gauges are at oversold
extremes. Also, along with the market being very oversold,
and a crowd full of bears (and a whole lot of new ones with
the break under 1350 on the SP500 on Wednesday), it would be
the perfect spot for the bulls to take the market up.

That said, a bit of proof is needed before stepping in front
of this and buying, as the downside has good momentum. As
long as the SP futures do not break and hold under the
1334.00 level, the chance of a decent snap-back rally will
still be in the cards. A move back over the initial
resistance, that doesn't quickly reverse, could get the
market out of trouble. However, if the market can not rally
under these ideal conditions, then a crashette may be the
result. The price patterns at the end of Wednesday are not
pretty, so be sure the market reverses before an entry on a
long trade.

The initial resistance is at the 1341.50-1342.50 area on the
SP futures and 1942.75-1944.25 area on the Nasdaq futures.
If the market gets up there, and doesn't have trouble
pushing through those areas, then the intraday trends could
turn back up. There would be minor resistance at the
1344.50-1345.00 area on the SP futures and 1953.25-1954.25
area on the Nasdaq futures. If the market isn't turned back
from those areas, then the key resistance is at the 1349.50-
1350.00 area on the SP futures and 1962.50-1963.75 area on
the Nasdaq futures. If the market gets up there again, and
the move stalls, then beware of a reversal.

The initial support is at the 1337.00-1336.00 area on the SP
futures and 1932.75-1932.50 area on the Nasdaq futures. If
the market can reverse from those areas, then a decent snap-
back rally could begin. If those don't hold, then look for
support at the 1330.50-1329.75 area on the SP futures and
1921.50-1920.25 area on the Nasdaq futures. If the market is
going to reverse, it shouldn't go much further than those
areas before buyers step to the plate and turn things back
up. If those areas are broken, then the last good support
before heading towards the 1316-1314 zone on the SP500 cash
and futures would be at the 1324.50-1324.00 area on the SP
futures and 1911.50-1910.25 area on the Nasdaq futures.

These number are for the September futures.

Sept 2008 SP futures resistance
symbols: emini = esu8 / big contract =spu8

1341.50-1342.50
1344.50-1345.00
1349.50-1350.00

Sept 2008 SP futures support
symbols: emini = esu8 / big contract =spu8

1337.00-1336.00
1330.50-1329.75
1324.50-1324.00

Sept 2008 Nasdaq futures resistance
symbols: emini = nqu8 / big contract = ndu8

1942.75-1944.25
1953.25-1954.25
1962.50-1963.75

Sept 2008 Nasdaq futures support
symbols: emini = nqu8 / big contract = ndu8

1932.75-1932.50
1921.50-1920.25
1911.50-1910.25

Sept 2008 Dow futures resistance
symbols: emini = ymu8

12117-12126
12132-12136
12189-12192

Sept 2008 Dow futures support
symbols: emini = ymu8

12096-12091
12041-12036
11983-11978

Sept 2008 Russell futures resistance
symbols: emini = er2u8 / big contract = er2u8

721.50-722.40
724.00-724.40
727.20-727.70

Sept 2008 Russell futures support
symbols: emini = er2u8 / big contract = er2u8

717.50-717.00
713.40-712.80
709.10-708.60


---------------------------

REMINDER:

Real Time subscribers can view these updates on
the web at this site:

http://www.tradestalker.com/members


---------------------------


Good Trading,
Mike Reed

Copyright (c) 2008 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.

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.
*************************************************

TradeStalker's RBI Update 06/10/08

.................................................

TradeStalker's

R.B.I. Trader's Update

6 / 10 / 2008

(Published Since 1996)

...............................................


Dateline: 6:57 pm eastern time, 6/10/2008


Trading updates are posted through out the day to "real
time" subscribers on our Instant Messenger Site. Go here to
sign up now! http://www.tradestalker.com/order-page.htm

The market opened lower on Tuesday and right at the 1352.00-
1350.50 area key support zone on the SP futures. The market
turned up and the SP futures bounced from 1351.25 to 1356.75
(which was initial support turned resistance) and turned
down. The pullback was 4 points to 1252.75 and then the
market sprinted higher. The move took the market back to the
1362.25 level on the SP futures and after pulling back, they
popped to 1359.75 and then turned back down. The pullback
reversed from 1356.25, just under updated support, and then
the upside continued until the SP futures reached the
1363.75-1364.00 and then reversed. They pulled back to the
updated support around 1361, and then bounced back to make a
run towards the 1368.00 resistance. This time they fell just
shy of the resistance, reaching 1367.25 on the SP futures
and then pulled back. After the dip, the SP futures reached
1366.75 and reversed, setting up a 1-2-3 top that took the
market lower to the 1354.50 level. That was reversed right
at 2:20 pm eastern time and the market bounced back.
However, the move fizzled after the SP futures fizzled at
the 1362.50 level and the market sold off into the close.

We get the Fed's Beige Book at 2 pm on Wednesday. The market
is in danger of breaking well defined support on the SP500
and also the Nasdaq 100 cash indices. On the SP500 cash, the
1350-1348 area is key support. On the Nasdaq 100 cash, the
1948-1944 area is key support. If those zones are both
broken and the market can only bounce back feebly and not
get back over those zones and hold, then the market will be
breaking down even further. If that occurs, then we could
head towards the 1336-1333 area on the SP500 cash and
futures. On the other side of the coin, if the market goes
down to those areas and then snaps right back above them and
rallies with some gusto, a decent low could be put in place.

The market is beginning to get short term oversold, and the
VIX still has another day for the buy signals to work. So,
if there is early weakness that reverses from the 1348.00-
1347.50 area on the SP futures and the 1949.00-1947.50 area
on the Nasdaq futures, then it should set up a trade on the
long side as we could see a decent rally come from it. For
proof, a break and hold over the 1362.00-1362.50 zone is
needed and if that occurs, then the market could extend to
the upside helped by a bit of a short squeeze. However,
unless/until there is a break and hold over the 1362.00-
1362.50 zone, the market is vulnerable and the path of least
resistance should be to the downside.

The initial resistance is at the 1362.00-1362.50 area on the
SP futures and the 1980.00-1981.00 area on the Nasdaq
futures. If the market gets up there, it must not fail or
else the market is still in trouble. If the market gets back
up there and the move doesn't reverse, then another push to
the 1367.50-1368.00 area on the SP futures and the 1989.50-
1990.50 area on the Nasdaq futures is possible. If the
market doesn't show any sign of reversing from those areas,
then the Fed Beige Book will have ignited an oversold market
and the rally should test the 1371.50-1372.50 area on the SP
futures and the 1998.50-1999.25 area on the Nasdaq futures.
If the market gets back up there, it would put a higher high
on the daily chart, but the strength will likely be sold in
any case if the momentum stalls out.

The initial support is at the 1355.00-1354.50 area on the SP
futures and the 1966.25-1965.50 area on the Nasdaq futures.
If the market isn't able to reverse from those areas, then
the pressure should be on and a test of the 1350.50 level on
the SP futures and the 1958.25 level on the Nasdaq futures
should be magnets. If those are reached and the market
doesn't quickly turn up, then the market must hold and
reverse from the 1348.00-1347.50 area on the SP futures and
the 1949.00-1947.50 area on the Nasdaq futures. If those
areas are broken and the market cannot reverse and rally
with some gusto, then the bears might try to push the market
towards the 1336-1333 area on the SP futures. If the market
does break and hold under those support zones, then look for
a potential bounce from the 1342.50 and/or 1942.00 levels
along the way.



June 2008 SP futures resistance
symbols: emini = esm8 / big contract =spm8

1362.00-1362.50
1367.50-1368.00
1371.50-1372.50


June 2008 SP futures support
symbols: emini = esm8 / big contract =spm8

1355.00-1354.50
1350.50
1348.00-1347.50
1342.50
1336-1333


June 2008 Nasdaq futures resistance
symbols: emini = nqm8 / big contract = ndm8

1980.00-1981.00
1989.50-1990.50
1998.50-1999.25


June 2008 Nasdaq futures support
symbols: emini = nqm8 / big contract = ndm8

1966.25-1965.50
1958.25
1949.00-1947.50
1942.00
June 2008 Dow futures resistance
symbols: emini = ymm8

12327-12331
12372-12377
12412-12417
June 2008 Dow futures support
symbols: emini = ymm8

12266-12261
12208
12178-12172
12130


June 2008 Russell futures resistance
symbols: emini = er2m8 / big contract = er2m8

734.80-735.20
737.50-737.90
739.90-740.30


June 2008 Russell futures support
symbols: emini = er2m8 / big contract = er2m8

728.40-728.10
724.80
723.00-722.50
718.20


---------------------------

REMINDER:

Real Time subscribers can view these updates on
the web at this site:

http://www.tradestalker.com/members


---------------------------


Good Trading,
Mike Reed

Copyright (c) 2008 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.

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.
*************************************************

TradeStalker's RBI Update 06/09/08

.................................................

TradeStalker's

R.B.I. Trader's Update

6 / 09 / 2008

(Published Since 1996)

...............................................


Dateline: 6:22 pm eastern time, 6/9/2008


Trading updates are posted through out the day to "real
time" subscribers on our Instant Messenger Site. Go here to
sign up now! http://www.tradestalker.com/order-page.htm

The market opened higher on Monday, and that first bounce
was sold as the SP futures dropped from 1366.00 to 1360.25
in the first 20 minutes of trading. The market turned up and
the SP futures rallied to the 1368.50-1369.00 resistance
zone, but after poking over that zone by just half of a
point, the SP futures quickly reversed from 1369.50 and
pulled back 5.25 points to 1364.25. Buyers stepped to the
plate and the market popped to new highs (with exception of
a weaker Nasdaq futures), and off of a 1371.50 high, the SP
futures pulled back to 1364.50. The SP futures went into a
range between the 60 ema on the 5 minute chart on the top
side and 1364.50 on the bottom side, and after a third
reversal down from that 60 period ema they finally broke
through that 1364.50 bottom of the range and the downside
picked up steam. After reaching 1357.50 on the SP futures,
the market bounced and then stalled out, forming a "slinky"
pattern on the 5 minute chart, and the SP futures headed
down to 1350.50 at exactly 2:20pm eastern time. The market
turned up and the SP futures took out the updated 1358.00-
1358.50 zone, but the move fizzled and the market backed off
to test its lows. The test passed, and with higher lows on
the charts, it made a "rising W" pattern as the market
rallied into the close.

The market made a pretty good reversal on Monday. The
washout under the 1352.50-1352.00 zone was quickly reversed,
and then the retest held at the 1352.00 level on the SP
futures. The 1352.00-1350.50 zone will now be a key area for
the bulls to defend. It "feels" like there might be another
sell-off in the cards. Fighting that, the VIX gave 3 buy
signals at Monday's close. If not for such a weak Nasdaq on
Monday, things would be more bullish. As it stands now,
another pullback needs to hold the 1352.00-1350.50 zone on
the SP futures, or quickly reverse if that zone is broken,
to keep the door open for a decent rally attempt. However,
the upside won't be easy, as there was a good deal of damage
done last week.

On Tuesday look for a shorting opportunity if there is
follow through strength just as soon as the move stalls out
and/or reverses. If that plays out, beware that the first
decent pullback will likely set up a trade on the long side,
especially if the initial support is held.

The initial resistance is just over the Monday closes at the
1363.75-1364.00 area on the SP futures and 1990.50-1992.00
area on the Nasdaq futures. If those are not a problem, then
the 1368.00 and 1999.75 levels would be next. If the market
gets up to those levels in the very early going, and the
move stalls out, then we could see a quick pullback to the
initial resistance areas, or further. However, if the market
can get through those levels, then the 1371.50-1372.00 area
on the SP futures and 2006.50-2007.25 area on the Nasdaq
futures would be key resistance. If the market doesn't
stall/reverse on a test of those areas, then the door is
open for a rally back to the 1375.50-1376.25 area on the SP
futures and 2011.75-2013.25 area on the Nasdaq futures. If
we get a move to those areas, be alert for a reversal back
to the downside. However, if the market has a rally that's
strong enough to get to those areas, and it still doesn't
reverse, then we could see a test of what should be major
resistance at the 1381.75-1382.25 area on the SP futures and
2023.75-2025.00 area on the Nasdaq futures.

The initial support is at the 1356.75 level on the SP
futures and 1968.50 level on the Nasdaq futures. If those
are broken, and the market can't turn around quickly, then
we could fall back to see if that 1352.00-1350.50 area on
the SP futures and the 1961.50-1959.00 area on the Nasdaq
futures can hold. If those areas tested again, then chances
are good that they will be broken and either accelerate, or
be a fake-out move and quickly reverse. If there is going to
be a reversal instead of mini-panic, then the selling
shouldn't go any further than the 1348.00-1347.50 area on
the SP futures and 1951.50-1949.00 area on the Nasdaq
futures. If those areas can't hold, then the 1336-1334 area
on the SP500 cash is likely.


June 2008 SP futures resistance
symbols: emini = esm8 / big contract =spm8

1363.75-1364.00
1368.00
1371.50-1372.00
1375.50-1376.25
1381.75-1382.25

June 2008 SP futures support
symbols: emini = esm8 / big contract =spm8

1356.75
1352.00-1350.50
1348.00-1347.50
1336-1334


June 2008 Nasdaq futures resistance
symbols: emini = nqm8 / big contract = ndm8

1990.50-1992.00
1999.75
2006.50-2007.25
2011.75-2013.25
2023.75-2025.00


June 2008 Nasdaq futures support
symbols: emini = nqm8 / big contract = ndm8

1968.50
1961.50-1959.00
1951.50-1949.00

June 2008 Dow futures resistance
symbols: emini = ymm8

12301-12305
12320
12334-12339
12365-12369
12407-12412

June 2008 Dow futures support
symbols: emini = ymm8

12243
12205-12200
12063-12058


June 2008 Russell futures resistance
symbols: emini = er2m8 / big contract = er2m8

737.40-737.80
740.80
742.50-742.90
749.70-750.10
754.20-754.70

June 2008 Russell futures support
symbols: emini = er2m8 / big contract = er2m8

732.70
729.00-728.40
725.60-725.20


---------------------------

REMINDER:

Real Time subscribers can view these updates on
the web at this site:

http://www.tradestalker.com/members


---------------------------


Good Trading,
Mike Reed

Copyright (c) 2008 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.

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.
*************************************************