TradeStalker's
R.B.I. Trader's Update
6 / 11 / 2009
(Published Since 1996)
...............................................
Dateline: 8:09 pm eastern time, 6/11/2009
The market rallied from the open but after getting to 946.75
(at our 946.00-947.00 resistance zone) the ES was sold and
the pullback dropped to just above the updated support at
940.00. A little trading range developed and after the
breakout, the ES pulled back to the breakout level and
turned back up. The move popped over and then reversed to
the 951.50-952.00 resistance and pulled back. After breaking
support, the next bounce was sold at the 950 level on the ES
and then the market reversed to close at the lows. The
indicators are still mixed, however the action up here is
looking toppy short term. The ES would need to get over the
946.00-946.50 area, and not quickly reverse, for the market
to get out of trouble on Friday. Shorting the bounces until
the ES gets towards the bottom of the range should play out
best.
On Friday look for the bounces to fizzle to get short. We
get the Michigan Sentiment survey 25 minutes into the
trading day. A decent bounce in the morning would set up a
very good shorting opportunity. There should be good
resistance around the 942.00-942.50 area, which is about
fair value before stocks open, and an early pop and reversal
from that area could set up a good shorting opportunity. IF
the ES happens to get over the 946.50 level again, and not
quickly reverse, then it might mean a test of the highs but
not much more.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
942.00-942.50
946.00-946.50
949.50-950.25
952.75-954.00
962.00-963.00 {SP500 Cash} **major
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
937.00-936.50
930.50-929.75
926.25-925.75
923.00-922.00
918.50-918.00
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1495.00-1495.75
1502.00-1502.50
1507.50-1508.50
1511.25-1512.50
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1488.75-1488.00
1482.25-1481.50
1477.00-1476.25
1473.00-1472.50
1467.00-1465.50
September 2009 Dow futures resistance
symbols: emini = ymu9
8732-8737
8764-8766
8799-8802
8832-8838
September 2009 Dow futures support
symbols: emini = ymu9
8696-8692
8652-8648
8611-8608
8585-8581
8536-8532
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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
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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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