TradeStalker's
R.B.I. Trader's Update
12 / 9 / 2009
(Published Since 1996)
...............................................
Dateline: 6:37 pm eastern time, 12/9/2009
The early game-plan worked perfectly to start Wednesday.
Last night I wrote:
"On Wednesday look for a shorting opportunity if
there is early strength and the move reverses from
near the initial resistance areas.
The ES popped to the 1092.50-1093.00 initial resistance and
reversed about 3 minutes into the trading day. From 1092.75,
the ES fell 7.75 points to 1085.00 in the first 20 minutes.
That was the low for the day, and after locking in profits
we had a couple more good shorting opportunities before the
afternoon breakout over the 1090.50-1091.50 zone. That move
continued higher until reaching the 1097.00-1097.50 area
before backing off near the close.
Short and sweet tonight due to time constraints. The futures
roll over to March of 2010 on Thursday, and the ES will be
trading about 5 points under the December 2009 contract.
Give the support and resistance a bit of leeway for a day or
so.
The indicators are nearly all neutral, expect the Vix gave 1
of 5 possible buy signals on Wednesday. The market held on
to its gains for a change and reversed to close up after
being under water most of the day. As long as the initial
support areas are held on a pullback, the move could extend
towards the 1095.00-1095.50 area on the MARCH futures, and
around the 1100.00-1100.50 area on the December contract.
On Thursday look for early weakness to set up a buying
opportunity, then the first decent rally should be reversed
near one of the resistance zones. If that plays out, it
should then set up a good trade on the short side. The
market will be in uptrends unless the initial support areas
are broken.
March 2010 SP futures resistance
symbols: emini = esh0 / big contract =sph0
1092.00-1092.50
1095.00-1095.50
1102.50-1103.25
March 2010 SP futures support
symbols: emini = esh0 / big contract =sph0
1089.00-1088.50
1086.00-1085.00
1083.00-1082.00
1078.00-1077.50
March 2010 Nasdaq futures resistance
symbols: emini = nqh0 / big contract = ndh0
1794.00-1794.50
1797.75-1798.50
1812.50-1814.00
March 2010 Nasdaq futures support
symbols: emini = nqh0 / big contract = ndh0
1776.75-1775.50
1768.00-1767.00
1757.50-1756.75
1750.25-1748.50
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Good Trading,
Mike Reed
TradeStalker.com
Copyright (c) 2009 by TradeStalker.com, Ft Wayne, IN.
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This publication's primary focus is trading the index
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