TradeStalker's
R.B.I. Trader's Update
4 / 22 / 2009
(Published Since 1996)
...............................................
Dateline: 6:46 pm eastern time, 4/22/2009
The gap down open reversed from 836.00, at the 836.25-835.75
*key* zone on Wednesday, and rallied to the 856.75-857.25
resistance zone before resting. A pullback from 856.75
reversed from 2 ticks under updated support at 846 on the
ES, and it rallied to a token higher high. With 50 minutes
left in stock trading, the move reversed and the market then
dropped hard to end the day.
We sure had two-sided action on Wednesday, and probably will
again on Thursday although shorts should work out better.
The daily indicators are mixed, and not saying a whole lot
right now. The market has been weak in the morning and then
ends strong when the market was in good shape. Now, even if
early weakness is bought, the moves are not sticking.
On Wednesday, a lower open that reverses should set up a
bounce. If that plays out, beware that the first decent
bounce will likely be sold. The early key resistance would
be at the 845.25-846.00 area on the ES, and that needs to be
cleared just to get into neutral territory.
June 2009 SP futures resistance
symbols: emini = esm9 / big contract =spm9
838.75-839.25
845.25-846.00
852.50-853.00
858.25-858.75 **key**
861.50-862.00
June 2009 SP futures support
symbols: emini = esm9 / big contract =spm9
835.75-835.00
831.50-831.00
825.00-824.50 **major**
818.75-818.00
June 2009 Nasdaq futures resistance
symbols: emini = nqm9 / big contract = ndm9
1335.25-1336.75
1341.50-1343.00
1350.50-1351.50
1361.50-1362.00 **key**
1366.75-1367.25
June 2009 Nasdaq futures support
symbols: emini = nqm9 / big contract = ndm9
1319.75-1319.00
1313.25-1312.50
1303.50-1303.00 **major**
June 2009 Dow futures resistance
symbols: emini = ymm9
7827-7834
7884-7888
7944-7947
7994-7998 **key**
8023-8027
June 2009 Dow futures support
symbols: emini = ymm9
7802-7798
7769-7765
7716-7712 **major**
CLICK HERE for FREE Trading Articles and Videos!
---------------------------
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.
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)
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.
*************************************************
No comments:
Post a Comment