TradeStalker's
R.B.I. Trader's Update
4 / 8 / 2010
(Published Since 1996)
...............................................
Dateline: 6:46 pm eastern time, 4/8/2010
The flu bug made another visit, so I don't have much to
write. The market put together a trend up day on Thursday.
If this rally reverses from under 1185 on the ES, and then
closes / breaks under the 1182.50-1182.00 area, it would
need to turn right back up to avoid another downdraft.
If the ES closes the day under the 1178.75-1178.00 zone, it
will be bearish. If that area holds on a drop, then a
trading range is the worst that happens. If the move from
Thursday continues, and the ES runs through 1185 on the way
up to test or break the recent 1188 high area, it will be a
good area for a reversal. If that does not occur, then a
move towards the 1194-1195 area could be in the cards. If
the bids do not dry up and the move stalls/ reverses, a
melt-up as far as the 1202-1204 area is a long shot
possibility.
June 2010 SP futures resistance
symbols: emini = esm0 / big contract =spm0
1184.50-1185.00 **key
1186.25
1188.00-1189.00
1194.50-1195.00
June 2010 SP futures support
symbols: emini = esm0 / big contract =spm0
1182.50-1182.00 **key
1178.75-1178.00
1175.00-1174.50
1171.00-1170.25
June 2010 Nasdaq futures resistance
symbols: emini = nqm0 / big contract = ndm0
1981.50-1982.50 **key
1984.50
1985.75-1987.50
1994.00-1995.00
June 2010 Nasdaq futures support
symbols: emini = nqm0 / big contract = ndm0
1977.50-1977.00 **key
1970.25-1969.50
1966.75-1966.00
1959.50-1958.50
June 2010 Dow futures resistance
symbols: emini = ymm0
10898-10901 **key
10912
10927-10930
10968-10973
June 2010 Dow futures support
symbols: emini = ymm0
10874-10870 **key
10858-10854
11815-11811
10791-10788
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---------------------------
Good Trading,
Mike Reed
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The foregoing has been prepared solely for informational
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research and data believed reliable, but there is no
guarantee that future results will be profitable.
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This is not an endorsement or recommendation of the SP500
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