TradeStalker's
R.B.I. Trader's Update
6 / 9 / 2009
(Published Since 1996)
...............................................
Dateline: 7:17 pm eastern time, 6/9/2009
Both sides worked out well on Tuesday, especially in the
early going. Last night's last paragraph stated:
"On Tuesday expect the first decent rally to be sold in
to, especially an early pop that reverses near the
Monday highs. If that plays out, then the first decent
pullback should set up a buying opportunity."
The ES popped up and reversed from our 945.50-946.50 zone
and then fell to the 935.50 updated support. That first
decent pullback then set up a buying opportunity. The rally
peaked just .50 over the 945.50-946.50 zone on the ES and
then was sold off into the close.
The SP500 cash and futures have been in a range between 952
on top and 925 on the bottom for 7 straight days now. The
mood has gotten very complacent, and prone to a decent
selloff soon. A reversal on the Vix would give a number of
sell signals if that occurs on Wednesday. The majority of
the short term internal gauges are in neutral, however a
decent pullback (that holds the bottom of the range) could
get the market short term oversold, and possibly be a reason
for another decent rally.
On Wednesday look to buy early weakness IF it reverses in
the first 20-40 minutes and holds over the 936.00-935.50
area on the ES. Just beware that the first decent bounce
will be a shorting opportunity if the move fizzles under the
946.50-947.00 high area from Tuesday. Then after the early
action, we get the Fed's Beige Book at 2pm and that should
inject some volatility into the trading environment.
June 2009 SP futures resistance
symbols: emini = esm9 / big contract =spm9
946.50-947.00
951.50-952.00
956.00-958.00
962.00-963.00 **major**
June 2009 SP futures support
symbols: emini = esm9 / big contract =spm9
936.00-935.50
932.75-932.00
929.00-928.50
926.00-925.50
918.50-918.00
June 2009 Nasdaq futures resistance
symbols: emini = nqm9 / big contract = ndm9
1509.50-1510.25
1515.75-1516.50
1521.75-1522.50
June 2009 Nasdaq futures support
symbols: emini = nqm9 / big contract = ndm9
1497.25-1496.25
1488.25-1487.25
1480.00-1478.50
1471.25-1470.25
1466.50-1466.00
June 2009 Dow futures resistance
symbols: emini = ymm9
8798-8803
8858-8862
8902-8907
June 2009 Dow futures support
symbols: emini = ymm9
8726-8722
8688-8683
8663-8657
8631-8627
8564-8560
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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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trade the following ETF's (SPY), (QQQQ), (SDS), (QID),
(DIA), and (DOG)
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The foregoing has been prepared solely for informational
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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
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extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
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