TradeStalker's
R.B.I. Trader's Update
4 / 12 / 2009
(Published Since 1996)
...............................................
Dateline: 5:28 pm eastern time, 4/12/2009
First, the issues with both the Instant Message page and the
Member site page should be back and working okay by now. The
whole Parachat network was down on Thursday. Their outage
was due to the sabotage of fiber optic cables near San Jose,
California, which became national news. Let's hope they
fixed it without incident so there are no more hassles with
that. On to the market....
The market ended a good week for the bulls, as the market
put together another very good rally on Thursday. The big
gap up open on Thursday was sold into, with the reversal
coming from a direct hit on the 847.75-848.00 resistance
zone. The selling took the ES down to 840.00 before firming
up. Buying came back in and another rally to the 847.75-
848.00 resistance zone was sold. However, 843.00 held and
then the ES broke and held the double top and rallied to
854.50 in the final minutes of trading.
The daily internal gauges are not keeping up with the rally
and that is usually a warning flag that the "guts" of the
market are losing upside momentum. In addition to that, the
Vix gave a couple of sell signals on Thursday. The market is
acting very good, but odds favor a decent pullback soon. The
action was not unlike last Friday and the week started with
a gap down open. In any case, if the market sells off from
up here, then the SP500 cash needs to stay over 815.55 on a
close, and the ES needs to stay over the 811.50-810.50 zone.
Unless those are broken, the market will stay in a bullish
mode.
On Monday look to sell into early strength as soon as the
upside fizzles/reverses. If the market obliges, then the
first decent pullback should get footing and hold the
initial support areas. If the market cannot hold the initial
support areas, then the trends could be rolling over. If
that occurs, then selling the bounces will be the better
odds trades, rather than buying pullbacks that stall and
reverse.
June 2009 SP futures resistance
symbols: emini = esm9 / big contract =spm9
854.00-855.00
858.25-858.75
863.50-864.25
875-877 {SP500 Cash} is **major**
June 2009 SP futures support
symbols: emini = esm9 / big contract =spm9
847.75-847.25
843.00-842.75
839.00
832.00-831.50
825.25-825.00 **major Monday**
June 2009 Nasdaq futures resistance
symbols: emini = nqm9 / big contract = ndm9
1341.00-1342.00
1346.25-1347.25
1354.50-1355.50
June 2009 Nasdaq futures support
symbols: emini = nqm9 / big contract = ndm9
1332.00-1331.00
1326.50-1325.75
1318.00
1313.25-1312.50
1306.75-1305.75 **major Monday**
June 2009 Dow futures resistance
symbols: emini = ymm9
8037-8052
8068-8072
8108-8113
June 2009 Dow futures support
symbols: emini = ymm9
7984-7981
7954-7951
7919
7874-7869
7838-7834 **major Monday**
---------------------------
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.
*************************************************
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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