TradeStalker's
R.B.I. Trader's Update
4 / 13 / 2010
(Published Since 1996)
...............................................
Dateline: 7:10 pm eastern time, 4/13/2010
The ES opened lower, bounced to 1192.50 about 25 minutes
into trading then stalled out. That strength was sold and
the ES rolled over and fell 7.50 points to the 1185.00-
1184.50 support zone. The 1188.00-1188.50 zone was broken
and then it held on a pullback, and it was a stair-step
higher to test the Monday high at 1195.75. A 123 pattern was
made and the ES dropped to 1192.50 new support at the close.
After the close earnings reports has the market trading
higher as this is written. If that carries over into
Wednesday morning, it should set up a decent short in the
first 20-40 minutes. It would be an "easier" short if the ES
reverses from near the 1198.50-1199.50 zone on the ES. If
that plays out, then look for the 1192.50-1191.50 zone for
pivotal support. A turn back up from that area will keep the
rally alive. A break and hold under that area would start a
transition to the downside.
NOTE: I will be away until early afternoon on Wednesday. The
first intraday update will be sent when I return.
June 2010 SP futures resistance
symbols: emini = esm0 / big contract =spm0
1195.50-1196.25
1198.50-1199.50
1202.00-1204.00
June 2010 SP futures support
symbols: emini = esm0 / big contract =spm0
1192.50-1191.50
1188.50-1188.00
1185.00-1184.50 **key
June 2010 Nasdaq futures resistance
symbols: emini = nqm0 / big contract = ndm0
2010.50-2011.00
2014.75-2016.00
2019.75-2020.50
June 2010 Nasdaq futures support
symbols: emini = nqm0 / big contract = ndm0
2001.00-1999.50
1991.00-1990.00
1985.25-1984.25 **key
June 2010 Dow futures resistance
symbols: emini = ymm0
10987-10991
11001-11006
11041-11045
June 2010 Dow futures support
symbols: emini = ymm0
10955-10951
10934-10930
10892-10888 **key
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---------------------------
Good Trading,
Mike Reed
Copyright (c) 2010 by TradeStalker.com, Ft Wayne, IN.
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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.
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