TradeStalker's
R.B.I. Trader's Update
10 / 25 / 2009
(Published Since 1996)
...............................................
Dateline: 5:26 pm eastern time, 10/25/2009
We planned to short early strength that reversed from around
the 1091.75-1092.25 zone and the ES popped up to 1092.75 and
headed down immediately. A drop to 1075.75 followed, and
then there was a decent bounce. In an intraday update I
stated that the 1082.50-1083.00 area shouldn't be exceeded,
and the ES reversed back down from 1082.50 and gave us a
9.50 point drop to 1073.00 before bouncing a bit. They
dropped back to 1072.75 (1072.75-1072.00 was a fixed support
zone) and then bounced back. The 1077-1078 zone was exceeded
by 1 tick and was reversed, and the ES made its way to a new
low at 1071.50 with about 20 minutes left in stock trading.
Buying came in and the ES bounced back to 1077.50 by the
close.
The market has been trading in a range for more than a week,
and on Friday the bottom of that range was tested again. The
market is slightly oversold, so we could see a decent bounce
occur. However, it is doubtful that a rally will stick. The
market appears to be in a topping process, and except for a
scalp, the long side still looks a bit dangerous.
The 1078.50 level on the ES will need to be exceeded, and
held on a pullback, in order to get a rally going on Monday.
However, if there is a run-up towards the 1082.50-1083.00
area and the move stalls/reverses, then that could be it for
a bounce attempt. If there is follow through buying, a
pullback will need to hold the 1078.00-1077.50 area. A break
back under the 1077.50 area would mean that a high is likely
in place, and the bounces would be shorts.
Due to having a trading class on Monday through Thursday,
there will not be as many updates as usual. I'll do my best
to alert you if market conditions change.
December 2009 SP futures resistance
symbols: emini = esz9 / big contract =spz9
1077.50-1078.50
1082.50-1083.00
1086.75-1087.50
1092.50-1093.00
December 2009 SP futures support
symbols: emini = esz9 / big contract =spz9
1071.50-1070.50
1068.25-1067.75
1063.00-1062.50
1056.75-1054.50 - gap
December 2009 Nasdaq futures resistance
symbols: emini = nqz9 / big contract = ndz9
1755.00-1755.75
1760.00-1761.00
1768.00-1768.50
1775.50-1776.50
December 2009 Nasdaq futures support
symbols: emini = nqz9 / big contract = ndz9
1747.25-1746.25
1742.50-1741.50
1737.50-1736.50
December 2009 Dow futures resistance
symbols: emini = ymz9
9937-9944
9981-9986
10009-10014
10047-10052
December 2009 Dow futures support
symbols: emini = ymz9
9882-9876
9861-9857
9802-9798
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Good Trading,
Mike Reed
TradeStalker.com
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This publication's primary focus is trading the index
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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
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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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