TradeStalker's
R.B.I. Trader's Update
6 / 15 / 2009
(Published Since 1996)
...............................................
Dateline: 7:26 pm eastern time, 6/15/2009
The market opened lower on Monday as the ES gapped down
about 10 points on the open. A bounce off of the 923.00-
922.00 zone, which was the bottom side of a 10 day trading
range, fizzled after reaching 927.25 and the market reversed
back to the downside. With the trading range broken on the
downside, the market went trend-down into the late
afternoon. The ES reached a 915.25 low and bounced to the
updated 919.00 level, and the move was rejected. A drop to
test that low passed, as the ES made a double bottom and
then bounced back to the 921.00 resistance by the close.
The SP500 cash closed right at the very bottom of the 10 day
trading range, after falling out of the range on the
downside intraday. However, it looks like there is a bit
more downside at the moment, and if things set up right, it
could be a buying opportunity. The internal gauges are about
a day away from getting oversold. Also, the Vix jumped over
9% on Monday, and it if rises a bit more and then reverses
back down, then a few Vix buy signals are possible. Right
now it looks like the NQ might take a lead roll, as it
shaped up better in the afternoon on Monday. The ES and Dow
rebound was far from impressive however.
On Tuesday we get the PPI and Housing Starts before the
open. An early pop that fizzles would set up a nice shorting
opportunity. It looks like the market is safe as long as the
Monday lows / double bottom is held. However, if there is
not a quick reversal from the initial support areas, then a
move towards the lower 912.50-912.00 area on the ES is in
the cards. If that isn't reversed then we could see a drop
of another 10 points on the ES before a reversal occurs.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
921.00-921.50
926.50-927.25
931.25-932.00
936.50-937.25
942.00-942.75
946.00-946.50
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
915.75-915.00
912.50-912.00
908.00
902.00-900.50
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1457.25-1458.25
1463.25-1464.50
1472.50-1473.25
1479.25-1480.00
1488.00-1488.75
1495.75-1496.75
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1447.25-1446.50
1443.50-1442.50
1437.50
1430.50-1428.50
September 2009 Dow futures resistance
symbols: emini = ymu9
8575-8580
8610-8615
8652-8657
8698-8703
8751-8757
8799-8802
September 2009 Dow futures support
symbols: emini = ymu9
8525-8521
8505-8500
8462
8422-8417
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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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The foregoing has been prepared solely for informational
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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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This is not an endorsement or recommendation of the SP500
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