TradeStalker's
R.B.I. Trader's Update
2 / 12 / 2009
(Published Since 1996)
...............................................
Dateline: 6:25 pm eastern time, 2/12/2009
The market gapped down on Thursday and the pressure was on
until the ES reversed from 808.25 about 30 minutes into
trading. A run up to 825.00 followed, but the move failed
and after a little 1-2-3 top was made, the ES worked its way
to a new low at 805.50. With an hour left, the market
reversed and rallied to the 836.25 resistance by the close.
The SP500 has spent 23 straight trading days between 877 and
804. On Thursday they reached the lower end of that zone and
then rallied straight up covering 30 points in 75 minutes on
futures trading. On Friday, look for early strength to
fizzle to set up a shorting opportunity. Thereafter, the ES
needs to stay over the 825.00-824.50 area on a pullback,
otherwise a top will be in place and a sharper drop is in
the cards. Both sides should be in play, but beware of a
move that reverses from near the 840.25-840.75 area, if the
market has enough oomph to get there. A reversal from that
zone sets up a good bigger picture shorting opportunity.
March 2009 SP futures resistance
symbols: emini = esh9 / big contract =sph9
835.75-836.25
840.25-840.75
846.00-846.50
852.50-853.25
March 2009 SP futures support
symbols: emini = esh9 / big contract =sph9
825.00-824.50
819.00-818.50
812.50-812.00
805.50
800.50-799.50
March 2009 Nasdaq futures resistance
symbols: emini = nqh9 / big contract = ndh9
1247.00-1247.50
1253.25-1254.00
1260.25-1261.25
1260.25-1261.25
March 2009 Nasdaq futures support
symbols: emini = nqh9 / big contract = ndh9
1225.75-1225.00
1219.00-1218.50
1207.25-1206.75
1202.50
March 2009 Dow futures resistance
symbols: emini = ymh9
7941-7946
7978-7984
8023-8028
8056-8062
March 2009 Dow futures support
symbols: emini = ymh9
7843-7838
7788-7784
7734-7727
7662
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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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