TradeStalker's
R.B.I. Trader's Update
5 / 28 / 2009
(Published Since 1996)
...............................................
Dateline: 8:44 pm eastern time, 5/28/2009
In the early going on Thursday we were looking for a
potential shorting opportunity if the ES stalled/reversed
from around the 901.75-902.25 initial resistance. The ES
popped up on the open and then stalled and reversed from
902.50, and then the downside gained momentum as the ES fell
16.15 points to 886.25 in about 40 minutes. The market held
and turned up from a good support area and rallied into late
afternoon. The ES reached 908.25 with 90 minutes left in
stock trading and then chopped into the close.
The daily indicators are mostly neutral ground, however the
Vix did give 1 buy signal on Thursday. The market is still
resilient, and as long as the market continues to rebound
from every hole it digs itself into, the downside isn't
going to go too far. The action has been two-sided with the
end-of-month upside bias holding up. The market has acted
toppy but ended the day in a triangle pattern so the early
Friday action should be volatile.
On Friday look to short early strength when the upside
fizzles/reverses, especially if a pop up open reverses from
near the 907.75-908.50 area on the ES. If that plays out,
beware that the first good pullback should set up a
countertrend rebound as the two-way action continues.
June 2009 SP futures resistance
symbols: emini = esm9 / big contract =spm9
907.75-908.50
912.00-912.75
914.50-915.00
921.50-922.50
June 2009 SP futures support
symbols: emini = esm9 / big contract =spm9
901.50-901.00
892.00-891.50
886.50-886.00
882.50-882.00
877.75-876.75
June 2009 Nasdaq futures resistance
symbols: emini = nqm9 / big contract = ndm9
1423.75-1424.00
1428.00-1428.75
1432.50-1433.50
1443.50-1444.50
June 2009 Nasdaq futures support
symbols: emini = nqm9 / big contract = ndm9
1415.00-1414.50
1398.25-1397.25
1394.00-1393.25
1385.75-1384.50
1377.75-1376.50
June 2009 Dow futures resistance
symbols: emini = ymm9
8423-8428
8483-8487
8514-8518
8539-8543
June 2009 Dow futures support
symbols: emini = ymm9
8361-8357
8258-8252
8230-8225
8206-8201
8168-8164
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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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(DIA), and (DOG)
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The foregoing has been prepared solely for informational
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This is not an endorsement or recommendation of the SP500
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