TradeStalker's
R.B.I. Trader's Update
09 / 14 / 2008
Additional Update
...............................................
Dateline: 8:01pm eastern time, es8z= 1227 nq8z= 1740
The Lehman situation wasn't settled over the weekend
and the futures are down big as this is being typed. At
the moment it looks like a test of last week's lows is
likely. If the market can reverse back to the upside in
the first 20 minutes or so from under 1220 on the ES,
then a trade on the long side could give a decent run
up. The first rally that then stalls out should set up a
better shorting opportunity. The 1240 area on the ES
should offer pretty good resistance if the downside
pressure is still on.
Resistance is at 1233.25, then the 1238.00-1239.00
area, and then good resistance near the 1244.00-
1244.50 area on the ES
Look for some support near 1218.00-1217.50, then
the 1212.25-1211.50 area, and then possibly the
1201-1200 area on the ES.
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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.
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