TradeStalker's
R.B.I. Trader's Update
3 / 25 / 2009
(Published Since 1996)
...............................................
Dateline: 6:06 pm eastern time, 3/25/2009
The market opened on Wednesday and kept going until reaching
and reversing from 823.50 on the ES and it pulled back. The
815.25 level held and the ES popped over 820 and reversed a
couple of times going into noon. The last pop and reverse
happened shortly after noon, as the ES reversed from 821.50
again. After the 815.25 level was broken, buyers pulled bids
and shorts pressed them lower as the ES went trend-down to
787.00 by 3 pm. Buyers stepped to the plate and the ES
rallied back to 812.00 before softening into the close.
The daily indicators are in neutral for the most part and
the sentiment is a bit mixed. The market hasn't been able to
hold its gains, but it cannot stay down for very long
either. So, for now lets treat this as a trading range. A
test of the Wednesday lows would likely set up a buying
opportunity, if the move stalls and then begins to turn up.
On the other side of the coin, if the ES gets over 820 again
and reverses back down through that level, it should set up
a selling opportunity. For now, it looks like the market is
safe from a big down day unless the ES breaks the 787.00 low
from Wednesday and cannot quickly reverse.
On Thursday look to short early strength if it fizzles and
begins to roll over in the first 20-40 minutes of trading.
If that plays out and the first decent pullback can hold, it
will set up a good trade on the long side. The way the
market has acted, buying the sharp drops that reverse should
set up good buying opportunities. On the other side of the
coin, the rallies that fizzle should set up shorting
opportunities, but better if the ES reverses from near 820.
June 2009 SP futures resistance
symbols: emini = esm9 / big contract =spm9
812.00-812.50
815.00-815.25
821.50-823.00
827.25-828.00
June 2009 SP futures support
symbols: emini = esm9 / big contract =spm9
803.00-802.50
795.50-795.00
787.50-787.00
782.00-780.50
June 2009 Nasdaq futures resistance
symbols: emini = nqm9 / big contract = ndm9
1239.00-1240.00
1244.75-1245.50
1253.50-1254.25
1263.50-1264.50
June 2009 Nasdaq futures support
symbols: emini = nqm9 / big contract = ndm9
1219.00-1218.50
1213.75-1212.50
1206.25-1205.25
1200.00-1198.75
June 2009 Dow futures resistance
symbols: emini = ymm9
7712-7716
7754-7758
7797-7809
7848-7853
June 2009 Dow futures support
symbols: emini = ymm9
7631-7627
7560-7546
7495-7491
7442-7434
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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.
This publication's primary focus is trading the index
futures. However, you can also use my nightly updates to
trade the following ETF's (SPY), (QQQQ), (SDS), (QID),
(DIA), and (DOG)
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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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