TradeStalker's
R.B.I. Trader's Update
5 / 26 / 2009
(Published Since 1996)
...............................................
Dateline: 5:13 pm eastern time, 5/26/2009
The market gapped down on Tuesday, as the ES opened just
over the key 877.75-876.75 area reversed, and then the
Consumer Confidence data sparked more buying. The market
went into trend-up mode until reaching the 910-911 area on
the ES, and a pullback to updated support at 906.25
followed. A bounce to 909.00 failed and the ES went down to
904.50 before bouncing again. That move also failed, and the
ES fell to 903.25 with 15 minutes left in stock trading. An
end
of day move took the market back near the highs.
That 877.75-876.75 area on the ES has been a rock solid
area, and after it was defended the market certainly was
helped by the Consumer Confidence surprise. Getting a move
to stick after a 32.75 point move on the ES should be
difficult, so 2-sided action is likely. On Wednesday look
for an early pop that reverses to set up a good shorting
opportunity. If that plays out, beware that the first decent
pullback should set up a buying opportunity after the
downside momentum fizzles and turns back up. Unless
something unexpected occurs the end-of-month upside
bias should be in effect.
June 2009 SP futures resistance
symbols: emini = esm9 / big contract =spm9
910.50-911.00
914.50-915.00
918.25
923.00-924.00
June 2009 SP futures support
symbols: emini = esm9 / big contract =spm9
903.50-903.00
895.75-895.00
888.50-888.00
882.50-882.00
877.75-876.75
June 2009 Nasdaq futures resistance
symbols: emini = nqm9 / big contract = ndm9
1414.00-1414.50
1418.50-1419.50
1423.50
1428.50-1429.50
June 2009 Nasdaq futures support
symbols: emini = nqm9 / big contract = ndm9
1404.00-1403.25
1397.50-1396.25
1389.00-1388.25
1380.75-1378.50
1374.75-1373.50
June 2009 Dow futures resistance
symbols: emini = ymm9
8480-8485
8514-8518
8559
8576-8579
June 2009 Dow futures support
symbols: emini = ymm9
8411-8407
8376-8371
8285-8281
8245-8242
8206-8201
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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
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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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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is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
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