TradeStalker's
R.B.I. Trader's Update
6 / 22 / 2009
(Published Since 1996)
...............................................
Dateline: 6:59 pm eastern time, 6/22/2009
The market gapped down on Monday and the ES fell to the
898.00-897.50 area before there was a bounce. The bounce
didn't stick, and the market went into trend down mode into
the early afternoon. A bounce from 889.25 on the ES made it
to the 894.50 updated resistance, but the poke over that
level quickly reversed and the ES fell to 887.75 by the
close.
The complacent bulls got a wake-up call on Monday. The VIX
closed at a new low for the year on Friday, and jumped 11%
on Monday, so the sentiment and expected volatility shifted
directions in a big way on Monday. This doesn't look like it
will be turned around easily, however the market usually
doesn't have back-to-back trend days. The market will likely
have decent moves in both directions on Tuesday, but with a
downside bias. It will still take a break and hold over the
894.50 area to get anything going on the upside. The bounces
will be good shorting opportunities unless that occurs.
Look for early strength to set up a good shorting
opportunity. If that plays out, then the first decent drop
that can reverse should set up a tradable bounce as long as
the 882.50-881.50 area is not broken. If the market gets
down there and cannot turn around, then the 877.75-876.50
area looks like it will be key. If that area is not
defended, then the 840-835 area could be in the cards.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
894.50-895.25
898.75-899.50
907.00-907.50
910.75-911.25
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
888.25-887.75
882.50-881.50
877.75-876.50
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1434.50-1435.50
1438.50-1439.25
1447.00-1448.00
1457.50-1458.50
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1426.50-1426.25
1421.25-1420.50
1414.50-1413.50
September 2009 Dow futures resistance
symbols: emini = ymu9
8334-8338
8378-8381
8437-8442
8463-8468
September 2009 Dow futures support
symbols: emini = ymu9
8278-8275
8235-8230
8198-8191
CLICK HERE for FREE Trading Articles and Videos!
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)
www.TradeStalker.com
PO Box 9783, Ft Wayne, IN, 46899
Disclaimer
The financial markets are risky. Investing is risky.
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
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************
No comments:
Post a Comment