TradeStalker's
R.B.I. Trader's Update
9 / 13 / 2009
(Published Since 1996)
...............................................
Dateline: 5:26 pm eastern time, 9/13/2009
We were selling early strength on Friday, and had resistance
at the 1043.50-1044.00 zone on the ES. The ES popped up and
reached 1043.75 and fizzled, giving us a great reward/risk
shorting opportunity. The ES then dropped 10 points to
1033.50 before bouncing, which was right at initial support
at the 1034.00-1033.50 zone. I gave the 1038.00-1038.50 as
new resistance, and the bounce reached 1038.25 and turned
back down. They had a 3.25 point pullback from there, then
the ES popped up to 1039.25 and then pulled back. A run to
1040.75 was quickly reversed, then the market pulled back
into the close.
The upside flattened out on Friday, as the market had a 2
sided day with a high at a resistance zone and a low at a
support zone. The Vix reversed from a yearly low, and gave 3
sell signals of 5 on Friday. At the moment it looks like the
upside is limited, and a drop back to test the Friday lows
are in the cards. If the ES cannot avoid rejecting the 1040
area, then we should drop towards the 1030.50-1030.00 area
and test the market strength from there.
Look for the "sell early, buy the first decent pullback"
type of action to start the day on Monday. If there is some
early strength, and there is a test of the late Friday highs
that fizzles/reverses it will set up a good shorting
opportunity. If the first decent pullback can hold the
1030.50-1030.00 area in the first 30 minutes of trading, and
stall out and turn up, then a trade on the long side might
be in order. However, unless/until the 1040 area is exceeded
and held, shorting the bounces should be the better odds
trade on Monday.
December 2009 SP futures resistance
symbols: emini = esz9 / big contract =spz9
1040.00-1040.75
1043.50-1044.00
1049.50-1050.25
December 2009 SP futures support
symbols: emini = esz9 / big contract =spz9
1034.00-1033.50
1030.50-1030.00
1026.50-1026.00
1023.00-1022.50
December 2009 Nasdaq futures resistance
symbols: emini = nqz9 / big contract = ndz9
1684.75-1685.75
1688.50-1689.25
1696.50-1697.50
December 2009 Nasdaq futures support
symbols: emini = nqz9 / big contract = ndz9
1673.00-1672.00
1667.00-1666.50
1663.00-1661.75
1658.00-1656.75
December 2009 Dow futures resistance
symbols: emini = ymz9
9559-9562
9588-9592
9642-9647
December 2009 Dow futures support
symbols: emini = ymz9
9512-9509
9468-9465
9434-9431
9403-9400
---------------------------
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
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