06/22/11 TradeStalker's E-Mini Futures Support and Resistance Updates

Hi Everybody,

Mike still isn't quite up to par, but wanted to give you a
head's up...

Last night Mike stated that his RBI Oscillator was
overbought along with his 3 Day Thrust also being
overbought.

The market was up early in the day, but by the end of the
day the market closed on it's lows. What was interesting is
that the RBI Oscillator remains in overbought terriotry, and
the VIX gave one of a possible 5 sell signals on Wednesday.

So, Thursday should be a two sided trading day.
1277.50 is first support
1272.50-1271.50 is a "key" support on Thursday
That area should hold if the market is going to be able to avoid trouble.

If the market rallies instead, then there is still
resistance at 1294.00 on the ES, and if that is exceeded,
then major resistance at 1297.50-1298.50

Mike hopes to be back to "normal" again real soon.
Good Trading (from Mike),

Julie
TradeStalker.com