TradeStalker's
R.B.I. Trader's Update
1 / 26 / 2009
(Published Since 1996)
...............................................
Dateline: 6:22 pm eastern time, 1/26/2009
The market opened higher on Monday and after a brief
pullback, the ES made it to 849.50 in the first hour of
trading. That was just under the 850.75-851.50 resistance
zone and the market backed off. A trading range between
844.75 on top and 839.00 on the low end formed and after the
range was finally broken, the ES popped to 838.50 and the
downside then gathered some steam. The drop reversed from
823.75 on the ES and it then bounced back to test the 840
level. However, a poke to 840.75 reversed, and the ES pulled
back 11 points to 829.75 before the close.
We get the Consumer Confidence number before the open on
Tuesday. The market has been stuck in a range and still is,
as the breakout of last week's range didn't stick. This
should set up for better odds trades on the short side,
especially if the ES fails around the 840 level again. On
the downside, the Monday afternoon lows would need to hold
and reverse if tested on Tuesday. If those areas don't hold,
then a spill towards the 816.25-815.75 area could be in the
cards. If we get down there, it should set up a good trade
on the long side if there is a reversal from that zone.
On Tuesday, if there is strength and the ES gets over 840
and then reverses, it should set up a very good shorting
opportunity. On the other side of the coin, if there is
early weakness and the ES can reverse to the upside after a
break of 830, then a decent trade on the long side could
shape up. If that doesn't play out in the early going, then
favor shorting the bounces as soon as the upside momentum
fizzles unless/until there is a trend up move that obeys
dynamic support on the way up.
March 2009 SP futures resistance
symbols: emini = esh9 / big contract =sph9
840.00-840.50
844.25-844.75
850.75-851.50
858.00-858.50
864.50-865.25
March 2009 SP futures support
symbols: emini = esh9 / big contract =sph9
830.25-829.75
824.00-822.50
816.25-815.75
812.50-812.00
807.50-807.00
800.50-799.50
797.50
794.00-792.50
March 2009 Nasdaq futures resistance
symbols: emini = nqh9 / big contract = ndh9
1190.25-1191.00
1194.50-1195.00
1202.50-1203.25
1217.50-1218.25
1227.50-1228.50
March 2009 Nasdaq futures support
symbols: emini = nqh9 / big contract = ndh9
1175.00-1174.25
1166.50-1165.50
1155.25-1154.75
1151.25-1150.50
1146.00-1145.25
1140.25-1139.50
1136.25
March 2009 Dow futures resistance
symbols: emini = ymh9
8123-8127
8143-8149
8227-8234
8297-8303
8349-8355
March 2009 Dow futures support
symbols: emini = ymh9
8028-8024
7975-7970
7924-7919
7892-7888
7848-7842
7798-7792
7761
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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) 2009 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.
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