TradeStalker's RBI Update 09/01/09

.................................................

TradeStalker's

R.B.I. Trader's Update

9 / 1 / 2009

(Published Since 1996)

...............................................


Dateline: 6:36 pm eastern time, 9/1/2009

We were looking to buy a lower open and the ES reversed from
a dead hit of the 1014.75-1014.25 support. The ES rallied 13
points in 40 minutes and then reversed. Off of the 1027.75
high, the ES pulled back. Updated resistance at 1024.50-
1025.00 was touched and reversed, and then the bottom fell
out. After falling another 24 points the ES reversed from
1000.25. Updated resistance was given at 1005.25-1006.00,
and the ES popped up to 1005.25 and stalled. It was a lid
for the ES as it dropped to 997.50 and then bounced. Updated
resistance was at the 1002.50-1003.00 area, and the ES
reached 1002.75 then turned back down, dropping 4 points to
998.50. Another bounce to 1002.25 reversed and the ES
dropped 7 more points to 995.25 before the close.

The market was hit very hard, and if not for being 2 days
off of the highs it would be a bullish setup. The closing
Trin at 3.56 is an extreme that can mark bottoms. Also, the
Vix jumped 12% as the sentiment changed fast. It looks like
there was too much damage done short term, so don't expect
bounces to stick on Wednesday.

On Wednesday the initial resistance areas need to be
exceeded, and then held on a pullback, to get anything going
on the upside. If there is early weakness, it should set up
a buying opportunity, but it won't stick unless the initial
resistance breaks and holds.

September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9

1002.00-1002.75
1006.50-1007.50
1011.50-1012.00
1014.50-1015.00 ** key


September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9

995.25
991.75-991.00
986.00-985.25
975.50-974.50


September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9

1602.00-1602.50
1611.50-1612.50
1619.75-1620.25


September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9

1590.25
1585.50-1584.75
1577.50-1576.75
1568.75-1567.50


September 2009 Dow futures resistance
symbols: emini = ymu9

9333-9337
9382-9386
9419-9423


September 2009 Dow futures support
symbols: emini = ymu9

9284
9239-9234
9208-9202
9098-9091

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.

www.TradeStalker.com
TradeStalker.com
PO Box 9783, Ft Wayne, IN, 46899

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)

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.
*************************************************