TradeStalker's
R.B.I. Trader's Update
6 / 30 / 2009
(Published Since 1996)
...............................................
Dateline: 6:02 pm eastern time, 6/30/2009
Early strength was reversed from 1 tick under the 926.50-
927.00 resistance zone about 20 minutes into trading on
Tuesday. The market broke fast and the pressure was on until
the ES reached 908.25 (just 1 tick under the 909.00-908.50
support zone). A bounce to 912.75 fizzled and a pullback
then found support at 909.25 and the upside began to catch a
bid. A pullback from the 913.50-914.00 updated resistance on
the ES was sold, but the dip held over the 911 level and the
ES rallied to 916.75 by the close.
The market bounced off of some key support on Tuesday, but a
test of those Tuesday lows could be in the cards again. The
Vix gave 3 sell signals on Tuesday, and most indicators are
back to neutral territory. A rally back towards the 919.75-
920.25 area on the ES that reverses could begin another
pullback. If that occurs, or we get early weakness, those
Tuesday lows are now key support on a pullback. The market
held up well down there, as the ES spent very little time
under the 909 level. If the market goes through the 909.00-
908.25 area on Wednesday and is not quickly reversed, then a
drop back to the low 900's or high 890's is likely before
the market gets turned back around.
On Wednesday look for early strength to be sold as soon as
the upside stalls/reverses and especially if it comes from a
resistance zone. If that plays out, beware that a pullback
needs to hold the 902.50-901.50 area on the ES, or quickly
reverse if broken.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
917.00-917.75
919.75-920.25
926.50-927.00
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
913.25-912.75
909.00-908.25
902.50-901.50
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1479.50-1480.00
1483.00-1483.50
1491.50-1492.75
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1472.75-1471.75
1466.75-1465.75
1460.75-1459.75
September 2009 Dow futures resistance
symbols: emini = ymu9
8405-8409
8441-8444
8500-8505
September 2009 Dow futures support
symbols: emini = ymu9
8373-8368
8337-8334
8286-8282
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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.
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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.
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