TradeStalker's
R.B.I. Trader's Update
3 / 31 / 2009
(Published Since 1996)
...............................................
Dateline: 6:10 pm eastern time, 3/31/2009
The early game plan for Tuesday was to short early strength
that reversed, then exit and get long when the first decent
pullback reversed. The market popped up on the open on
Tuesday and the strength was sold as the ES dropped 7 points
from 793.25 to 786.50 before turning back up. With the first
decent pullback being a buying opportunity, the ES ground
its way to 796.50 by noon. A drop from that high held at
791.50 and another leg higher was in gear. The ES reached
807.00 before pulling back, but buyers stepped to the plate
at the 801.00 level and there was a bounce back to 804.75. A
1-2-3 top was triggered and the ES plunged to 789.50 in the
final minutes of futures trading.
There was End-of-Quarter window breaking instead of window
dressing on Tuesday, as the last 30 minutes saw the market
drop pretty hard. The bounces will set up good shorting
opportunities on Wednesday. A drop back towards the 783.25-
782.50 area on the ES should be in the cards at least, by
the looks of things. If the market cannot hold that area,
then it could mean a trip down towards the 771.00-769.50
area on the ES before a decent low is put in. If the market
gets down there and still cannot turn around, then the 730
area is likely this month.
On Wednesday look for shorting opportunities when the
bounces fizzle and begin to roll over. If the market gaps
down and reaches the 783.25-782.50 area on the ES and
reverses, that could set up a trade on the long side. It
would be best if that was reached in the first 40 minutes of
trading for that setup. However, don't fall in love with the
long right now as the moves are not sticking and 771.00-
769.50 could be a magnet.
June 2009 SP futures resistance
symbols: emini = esm9 / big contract =spm9
797.00-798.00 **pivotal**
804.50-805.00
807.00
809.50-810.25
June 2009 SP futures support
symbols: emini = esm9 / big contract =spm9
790.00-789.50
783.25-782.50 **key early**
779.25-778.75
776.00-775.25
771.00-769.50 **major**
762.00-761.50 **critical**
June 2009 Nasdaq futures resistance
symbols: emini = nqm9 / big contract = ndm9
1239.52-1240.50 **pivotal**
1250.50-1251.25
1257.75
1261.50-1262.50
June 2009 Nasdaq futures support
symbols: emini = nqm9 / big contract = ndm9
1226.50-1225.50
1219.50-1218.75 **key early**
1211.50-1210.75
1204.25-1203.50
1199.50-1198.75 **major**
June 2009 Dow futures resistance
symbols: emini = ymm9
7594-7599 **pivotal**
7658-7661
7671
7697-7704
June 2009 Dow futures support
symbols: emini = ymm9
7512-7508
7460-7456 **key early**
7416-7411
7384-7379
7337-7332 **major**
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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.
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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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