TradeStalker's
R.B.I. Trader's Update
4 / 27 / 2009
(Published Since 1996)
...............................................
Dateline: 5:42 pm eastern time, 4/27/2009
A gap down open reversed on Monday and the ES rallied from
851.00 to 865.50 by noon. The 861 level was broken, starting
a drop to test the early lows. The ES held at 850.50 and
bounced back to 859 as the market chopped into the close.
Short and sweet, a bit under the weather today... On
Tuesday the ES needs get over and hold the 859.75-860.25
area, and not quickly reverse as it did on Monday, to avoid
more trouble. On the downside, the ES needs to hold the 850
level and the Dow cash needs to hold 8000 to avoid more
damage on Tuesday. So, unless that 860.25 level is
overtaken, the bounces offer the better odds trades. A move
back towards the 846.00-845.50 area seems likely, and if
reversed then the 850.50-851.00 area on the ES and 8000 area
on the Dow cash would then be pivotal resistance.
June 2009 SP futures resistance
symbols: emini = esm9 / big contract =spm9
859.75-860.25
865.00-865.50
868.00-868.75
871.50-872.50 ES-875-878 SPX, 200d sma/trip top
876.00-876.50
880.50-882.00
June 2009 SP futures support
symbols: emini = esm9 / big contract =spm9
851.00-850.50
846.00-845.50
837.25-836.75
831.50-831.00 **key**
June 2009 Nasdaq futures resistance
symbols: emini = nqm9 / big contract = ndm9
1374.50-1375.25
1382.25-1384.00
1388.50-1389.00
1394.25-1396.00
1398.75-1399.75
June 2009 Nasdaq futures support
symbols: emini = nqm9 / big contract = ndm9
1362.50-1362.00
1354.75-1354.00
1343.00-1342.00
1328.00-1327.00 **key**
June 2009 Dow futures resistance
symbols: emini = ymm9
8016-8022
8070-8074
8082-8088
8119-8123
8137-8142
June 2009 Dow futures support
symbols: emini = ymm9
7938-7934
7885-7881
7819-7813
7755-7751 **key**
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---------------------------
Good Trading,
Mike Reed
Copyright (c) 2009 by TradeStalker.com, Ft Wayne, IN.
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permission.
This publication's primary focus is trading the index
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