TradeStalker's
R.B.I. Trader's Update
4 / 23 / 2009
(Published Since 1996)
...............................................
Dateline: 6:15 pm eastern time, 4/23/2009
A higher open was reversed 1 tick under the 845.25-846.00
resistance zone on the ES, and it then dropped to the
831.50-831.00 support zone. The market turned back up and
rallied to 847.00 by late afternoon. The break through
845.00 started a reversal that took the ES down to 836.75,
and then the market turned back up and closed at the highs.
The market gyrating left the internal gauges in neutral at
Thursday's close, as a trading range is developing. On
Friday, unless/until this range is resolved, look for a
shorting opportunity if there is early strength that
fizzles/reverses and then look for a buying opportunity on a
pullback that can get its footing and turn around. The
market isn't holding gains consistently, so beware of a
reversal when bids dry up at higher levels. For now, nothing
bad happens unless the 831.50-831.00 zone on the ES is
broken and not quickly reversed.
June 2009 SP futures resistance
symbols: emini = esm9 / big contract =spm9
853.50-854.00
858.25-858.75 **key**
861.50-862.00
June 2009 SP futures support
symbols: emini = esm9 / big contract =spm9
837.25-836.75
831.50-831.00 **key**
825.00-824.50
818.75-818.00
June 2009 Nasdaq futures resistance
symbols: emini = nqm9 / big contract = ndm9
1353.00-1354.00
1361.50-1362.00 **key**
1366.75-1367.25
June 2009 Nasdaq futures support
symbols: emini = nqm9 / big contract = ndm9
1328.00-1327.00
1319.75-1319.00 **key**
1313.25-1312.50
1303.50-1303.00
June 2009 Dow futures resistance
symbols: emini = ymm9
7944-7947
7994-7998 **key**
8023-8027
June 2009 Dow futures support
symbols: emini = ymm9
7819-7813
7755-7751 **key**
7694-7691
7618-7612
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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
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trade the following ETF's (SPY), (QQQQ), (SDS), (QID),
(DIA), and (DOG)
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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
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