TradeStalker's
R.B.I. Trader's Update
4 / 12 / 2010
(Published Since 1996)
...............................................
Dateline: 6:12 pm eastern time, 4/12/2010
On Monday morning we had a perfect set-up per the Sunday
night update. As stated:
"...early strength on Monday should set up a very good
shorting opportunity as soon as the move stalls/
reverses, and that could occur from the 1194.25-1195.00
zone."
The ES popped up to 1194.75 in the first 20 minutes,
stalled, then dropped 4 points to 1190.75. Per usual of
late, buyers stepped in and the market bounced, but it had
no gusto and shorts offered the better opportunity late day.
The ES dropped to 1191.00 and bounced feebly back to 1193.50
after stocks closed while the NQ was sold into the close.
On Sunday night the ES shot up to the 1198.50 resistance,
and then dropped until just before stocks opened on Monday.
The market wasn't as lively during regular trading hours as
the ES had just a 5 point range on Monday. The Vix made a
gap down on Monday, and if it goes back over 16 some sell
signals will be given.
On Tuesday, as long as the 1191 level on the ES holds, the
market will avoid trouble. Just don't expect much on the
upside. If the 1198.50-1199.50 area on the ES is tested,
beware of a good sized reversal.
June 2010 SP futures resistance
symbols: emini = esm0 / big contract =spm0
1195.00-1195.50
1198.50-1199.50
1202.00-1204.00
June 2010 SP futures support
symbols: emini = esm0 / big contract =spm0
1191.50-1191.00
1188.50-1188.00
1185.00-1184.50 **key
1182.25-1182.00 **S.T.Major
1178.00-1177.50
June 2010 Nasdaq futures resistance
symbols: emini = nqm0 / big contract = ndm0
1997.25-1998.00
2001.50-2002.50
2007.50-2008.50
June 2010 Nasdaq futures support
symbols: emini = nqm0 / big contract = ndm0
1990.50-1989.50
1986.50-1985.75
1982.00-1981.25 **key
1977.75-1977.00 **S.T.Major
June 2010 Dow futures resistance
symbols: emini = ymm0
10972-10976
11001-11006
11041-11045
June 2010 Dow futures support
symbols: emini = ymm0
10941-10938
10922-10917
10896-10892 **key
10881-10879 **S.T.Major
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Good Trading,
Mike Reed
TradeStalker.com
Copyright (c) 2010 by TradeStalker.com, Ft Wayne, IN.
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This publication's primary focus is trading the index
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