TradeStalker's
Support and Resistance Update
6 / 28 / 2011
(Published Since 1996)
...............................................
Dateline: 9:06 pm eastern time, 6/28/2011
The market opened higher on Tuesday and just kept grinding
higher. The biggest dip on the ES was just 3.50 points as
the market rallied from open to close in a trend up Tuesday.
The market is just one up day from getting into overbought
status and also potentially give a few Vix sell signals too.
After 2 trend up days in a row we may not get that good odds
set up. To stay in bullish mode, the initial support areas
need to be held on Wednesday. If not defended, then a 2
sided day is in the cards, at best.
If there is a higher open on Wednesday, it's a good short
for a test of the initial support. If that plays out and the
first pullback holds that 1288.25-1287.25 area on the ES
then the upside will be intact still. If broken, then a
bounce should fail and a move back to the 1282.25-1281.50
area is possible before a rally back can occur.
September 2011 SP futures resistance
symbols: emini = esu1 / big contract =spu1
1295.00
1297.50-1298.50 *strong
1301.00-1302.00
1305.50-1306.50
September 2011 SP futures support
symbols: emini = esu1 / big contract =spu1
1288.25-1287.25
1282.25-1281.50
1277.25-1276.50
1272.50-1271.50
September 2011 Nasdaq futures resistance
symbols: emini = nqu1 / big contract = ndu1
2285.00
2288.75-2290.25 *strong
2296.00-2297.00
2305.25-2307.00
September 2011 Nasdaq futures support
symbols: emini = nqu1 / big contract = ndu1
2274.50-2272.50
2260.50-2259.75
2250.50-2249.75
2238.50-2237.50
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Good Trading,
Mike Reed
TradeStalker.com
Copyright (c) 2011 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
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This publication's primary focus is trading the index
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