07/21/11 TradeStalker's E-Mini Futures Support and Resistance Updates

.................................................
TradeStalker's
Support and Resistance Update
7 / 21 / 2011
(Published Since 1996)
...............................................

Dateline: 6:56 pm eastern time, 7/21/2011

The ES gapped up more than 8 points on Thursday, then pulled
back to 1326.50 to fill the gap on the daily chart. The
market turned up there and rallied strong to 1341.50 on the
ES. A pullback to 1334.50 followed, then a move up to a high
at 1343.50 came on more news on the Budget / Debt issue.
That was sold, then for the last 2+ hours the ES traded
between 1343 and 1339 and then the futures rallied into the
close.

The market appears to be near a turning point. The narrow
range sets the market up for a reversal if the 1339.00-
1338.50 area on the ES is broken on Friday. Either that, or
a higher open that reverses and breaks down through the 1342
area and does not reverse back up quickly. That would be the
better odds trade on the short side. However, even if that
plays out, the initial support still needs broken to get
anything going on the downside. The market could start a
transition to the downside if this occurs.

There is no economic data out on Friday, but there are other
things that can be market movers on Friday. Look for early
strength to be sold in the first 90 minutes at the latest if
there is going to be a reversal lower. If a pullback holds
at the 1339.00-1338.50 area (tests and quickly starts back
up) then still nothing bad happens and there's an outside
chance of a little melt-up move towards the 1353.50-1354.50
area on the ES. But, IF that happens and then the market
reverses it could be a start of another good sized pullback.

September 2011 SP futures resistance
symbols: emini = esu1 / big contract =spu1

1343.00-1343.75
1348.00-1348.50
1353.50-1354.50

September 2011 SP futures support
symbols: emini = esu1 / big contract =spu1

1339.00-1338.50
1332.50-1331.50
1328.00-1327.50
1323.00-1322.00

September 2011 Nasdaq futures resistance
symbols: emini = nqu1 / big contract = ndu1

2410.50-2411.50
2418.00-2418.50
2424.75-2426.00

September 2011 Nasdaq futures support
symbols: emini = nqu1 / big contract = ndu1

2396.50-2395.75
2392.00-2390.75
2384.50-2382.50
2374.50-2372.50

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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
permission.

This publication's primary focus is trading the index
futures ($ES_F)and($NQ_F). However, you can also use my nightly updates to
trade the following ETF's (SPY), (QQQQ), (SDS), (QID),
(DIA), and (DOG)

www.TradeStalker.com

PO Box 9783, Ft Wayne, IN, 46899

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.
************************************************

07/20/11 TradeStalker's E-Mini Futures Support and Resistance Updates

.................................................
TradeStalker's
Support and Resistance Update
7 / 20 / 2011
(Published Since 1996)
...............................................

Dateline: 7:16 pm eastern time, 7/20/2011

Before the open I instant messaged that "this gap up will be
sold", and the ES popped up to 1326.75 and dropped to 1319.26
before noon. A bounce back double topped at 1326.00 and
reversed, giving a drop to 1320.50 before the close.

The indicators are no longer oversold, plus we got 1 VIX
sell signal on Wednesday. The ES double topped at the 1336
area and closed poorly, a bearish signal. On Thursday we get
the Jobless Claims before the the open, and then the Philly
Fed and Leading Indicators released at 10 AM.

As long as the 1324 level, or more importantly the 1326 area
on the ES is not cleared/ held on a dip, the market is in
for a decent sized pullback. A higher open would be a gift
short. If there is a big down open, a short covering bounce
can occur in the first 90 minutes or so. If that happens, a
bounce to the 1320 area would then be the first good
resistance for a turn back down. Bounces shouldn't stick
unless the market gets to a lower level were there is
support and a stall/ reversal occurs, and then the market
gets upside momentum and gets through the 1320.50 area on
the ES and holds that area. Don't count on that on Thursday.
A move to the 1313-1312 area on the ES will likely be seen
before any kind of decent bounce occurs, maybe as low as the
1308.50-1307.50 area.

September 2011 SP futures resistance
symbols: emini = esu1 / big contract =spu1

1323.50-1324.00
1326.75-1328.00
1331.50-1332.50

September 2011 SP futures support
symbols: emini = esu1 / big contract =spu1

1320.50-1320.00
1316.50-1315.50
1312.50-1311.50
1308.25-1307.50

September 2011 Nasdaq futures resistance
symbols: emini = nqu1 / big contract = ndu1

2386.50-2388.25
2393.75-2394.50
2408.50-2410.00

September 2011 Nasdaq futures support
symbols: emini = nqu1 / big contract = ndu1

2381.00-2380.00
2370.75-2369.75
2364.00-2362.50
2356.00-2354.50

---------------------------

REMINDER:

Real Time subscribers can view these updates, and also get
real time instant messages, on the web at this site:
http://www.tradestalker.com/RBIchat.htm

---------------------------

Good Trading,
Mike Reed

Copyright (c) 2011 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
www.TradeStalker.com

PO Box 9783, Ft Wayne, IN, 46899

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.
*************************************************

07/19/11 TradeStalker's E-Mini Futures Support and Resistance Updates

.................................................
TradeStalker's
Support and Resistance Update
7 / 19 / 2011
(Published Since 1996)
...............................................

Dateline: 4:52 pm eastern time, 7/19/2011

Due to illness there will be no update tonight.
Next update via instant message on Wednesday.
Please accept our apologies.

best,
Tradestalker

---------------------------

REMINDER:

Real Time subscribers can view these updates, and also get
real time instant messages, on the web at this site:

http://www.tradestalker.com/RBIchat.htm


---------------------------


Good Trading,
Mike Reed

Copyright (c) 2011 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.

www.TradeStalker.com

PO Box 9783, Ft Wayne, IN, 46899

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.
*************************************************

07/18/11 TradeStalker's E-Mini Futures Support and Resistance Updates

.................................................
TradeStalker's
Support and Resistance Update
7 / 18 / 2011
(Published Since 1996)
...............................................

Dateline: 6:59 pm eastern time, 7/18/2011

The market opened lower on Monday, then the ES bounced from
1303.50 up to the 1308 area that was given as resistance
before the open, and then the market rolled over. After
reaching 1301.50, we gave a resistance at 1304.00-1305.00,
and that 1304.00 level was nailed and then the market sold
off again reaching 1296.25 on the ES. A bounce then stopped
at the 1300.25 level, just below the 1300.50 updated
resistance, and then a drop to a lower low at 1294.25
followed. A bounce from there back to the 1298 new
resistance occurred and sold off again, reaching 1291.25
shortly before noon. Buying came in and the ES moved up to
up to the 1299 level, which was tested three times before
finally turning down and going to the 1296.50-1295.50
updated support zone. From 1295.50, the ES turned back up
and a move to the 1301.25 level occured. Then the 1297 area
held on pullbacks in the last hour, and the ES moved up to
1301.50 before backing off when stocks closed.

The market has a lot of work to do to get going on the
upside, but on the other side of the coin the deep pullbacks
are finding buyers when the selling stalls out. The market
is oversold, and the VIX has jumped around and is still on
to buy signals. Also, the closing Trin is an oversold state.
My RBI oscillator, and a number of other indicators have
dipped into pretty deep oversold conditions. So there may
not be a whole lot on the upside before a move stalls out.
But, on the downside, it doesn't look like the market will
accelerate lower unless there is an outside event or there
is a another break/hold under the 1298 area on the ES.

As it looks right now, if there is early strength that
reverses from the 1302.50-1303.50 area on Tuesday it should
set up a shorting opportunity for a pullback. On the
downside, as long as that 1298.00-1297.50 area is held on a
pullback, then the move can continue. If the ES is able to
get back over the 1302.50-1303.50 area and hold, then things
should look pretty good. But as it looks right now, we could
see a pretty volatile trading range as traders sort out the
damage done on Monday.

So, there should be two sided action on Tuesday. Don't be
surprised if it hasn't upside bias, at least for awhile. As
stated above, a higher open that reverses from resistance
should set up a short trade in the early going. If we get
the opposite, and there isn't early drop, that should set up
a buying opportunity, especially if it's near that 1398.00-
1397.25 area and the ES reverses back up. If the market
opens down there and doesn't turn up from that area, that we
could test the Monday lows, or at least have a decent
pullback towards that area. If that happens, and the move
stalls out, then expect a good rally back out of the hole of
about 10 points or so on the ES.

September 2011 SP futures resistance
symbols: emini = esu1 / big contract =spu1

1302.50-1303.50
1307.50-1308.25
1311.75-1312.50

September 2011 SP futures support
symbols: emini = esu1 / big contract =spu1

1298.00-1297.50
1293.00-1292.50
1291.25
1288.50-1287.50

September 2011 Nasdaq futures resistance
symbols: emini = nqu1 / big contract = ndu1

2345.00-2346.00
2351.75-2352.50
2360.50-2362.00

September 2011 Nasdaq futures support
symbols: emini = nqu1 / big contract = ndu1

2335.50-2334.50
2324.00-2322.50
2318.75
2314.50-2313.50

---------------------------

REMINDER:

Real Time subscribers can view these updates, and also get
real time instant messages, on the web at this site:
http://www.tradestalker.com/RBIchat.htm

---------------------------

Good Trading,
Mike Reed

Copyright (c) 2011 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.

www.TradeStalker.com

PO Box 9783, Ft Wayne, IN, 46899

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.
*************************************************

07/17/11 TradeStalker's E-Mini Futures Support and Resistance Updates

.................................................
TradeStalker's
Support and Resistance Update
7 / 17 / 2011
(Published Since 1996)
...............................................

Dateline: 5:36 pm eastern time, 7/17/2011

The market had a rough week last week, as the market sold
off into Thursday. On Friday morning, a higher open was sold
and the ES traded down to the 1303.00 level in the first
hour of trading. The market got its footing and bounced back
to the 1312.50 level, which was at resistance. That move
stalled out, and the ES dropped back to test that 1303 low.
That level is able to hold that 1303.50 level, and in the
last hour buying and short covering started and the market
rallied to make slightly higher highs just before the close.

The market appears like it is ready to attempt another
relief rally. Some of the internal gauges got very oversold
on Thursday, and are beginning to turn up just a bit. Also,
at Friday's close we have three out of a possible five VIX
buy signals. So both the internals and the sentiment are
beginning to turn, and that should help keep the market
afloat. As long as the 1303.00-1302.00 area is held on a
pullback, then the market will stay out of trouble on
Monday.

This could set up two sided action with an upside bias on
Monday, so if there is early strength on Monday (especially
a move towards the 1319 area that stalls/reverses) it should
set up a selling opportunity. On the flip side, if the
market opens lower but can get turned around from near the
initial support areas, that should set up a trade on the
long side.

After the early action plays out, the bulls should be in
charge as long as there is not another drop down to the
1303-1302 area. That shouldn't be seen again on Monday,
otherwise a breakdown towards the 1298 area on the ES could
still be in the cards. If the market holds together however,
and can bounce from the initial support areas and then move
up and take out the Friday high, then we could still see a
move back towards the 1323.50-1324.00 area that gave the
market trouble last week. If that is poked over, then the
1328 area should be strong resistance if there is an
oversold bounce. If that is reached, a pullback at least
should be expected. If the market gets up there, but shows
no signs of a pullback, then a back up towards the 1332-1333
area could be in the cards this week.

September 2011 SP futures resistance
symbols: emini = esu1 / big contract =spu1

1315.00-1315.50
1318.75-1319.50
1323.50-1324.00
1327.25-1328.00

September 2011 SP futures support
symbols: emini = esu1 / big contract =spu1

1310.00-1309.50
1303.00-1302.00
1298.00-1297.50

September 2011 Nasdaq futures resistance
symbols: emini = nqu1 / big contract = ndu1

2358.00-2358.75
2364.50-2365.25
2374.50-2375.50
2381.75-2382.50

September 2011 Nasdaq futures support
symbols: emini = nqu1 / big contract = ndu1

2347.50-2346.50
2332.75-2331.50
2324.00-2323.00

---------------------------

REMINDER:

Real Time subscribers can view these updates, and also get
real time instant messages, on the web at this site:
http://www.tradestalker.com/RBIchat.htm

---------------------------

Good Trading,
Mike Reed
Copyright (c) 2011 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.

www.TradeStalker.com

PO Box 9783, Ft Wayne, IN, 46899

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.
*************************************************

07/13/11 TradeStalker's E-Mini Futures Support and Resistance Updates

.................................................
TradeStalker's
Support and Resistance Update
7 / 13 / 2011
(Published Since 1996)
...............................................

Dateline: 6:36 pm eastern time, 7/13/2011

***NOTE: There will be no update for tomorrow evening***

The market opened higher on Wednesday, as the ES reached
1318.25 before pulling back. That pullback held at 1314.00,
and then the market took off to the upside. A good rally up
to the 1326.50-1327.00 zone on the ES followed, and then the
move stalled out. A little pop up to 1327.75 was sold just
before noon, and then the market pulled back. The first dip
held at the 1323.75 level, and then a bounce up to the
1326.50 level failed and then the market started a trend
down move to the 1310.50 level with 15 minutes left in stock
trading. That was Tuesday's closing range, and the unchanged
level for the day, and a small bounce back to 1314.25
occurred just before the close.

In the Tuesday night update it was stated that we could get
an oversold bounce, but that bounces should still set up the
better opportunities, and that sure was the case on
Wednesday. From top to bottom the ES dropped 17.25 points
into the close on Wednesday. This still is a market that is
acting horribly. The reversal and close below the 1312 level
again keeps the pressure on. A day like Wednesday put a lot
of buyers under pressure. It just builds more resistance to
push through to get anything going on the upside. Even if
they do get a move higher, the buyers are likely going to be
holding those positions if there's any sign of a turn back
down.

So, on Thursday stick with selling bounces. A drop back down
below 1300 still may be in the cards. First, however, we'll
need to see how the ES handles the 1308.50-1308.00 area that
was tested on Tuesday. If there is a move under that level,
and it is not quickly reversed back to the upside (and then
held on a pullback) then a move down to the 1298 area could
be in the cards before this selloff is over. If they get
down to the 1298 area on the ES, we should see the market
get turned around, unless things are really unwinding to the
downside. In order to get out of trouble on Thursday, it
looks like the ES needs to get back over the 1312 area and
hold above that. Even if that spurs a rally, a move back
towards the Wednesday highs will still likely be sold into.

September 2011 SP futures resistance
symbols: emini = esu1 / big contract =spu1
1317.50-1318.00
1321.00-1321.50
1327.75-1328.25
1333.00-1334.00

September 2011 SP futures support
symbols: emini = esu1 / big contract =spu1
1311.50-1310.50
1308.75-1308.00
1305.50-1305.00
1298.50-1297.75

September 2011 Nasdaq futures resistance
symbols: emini = nqu1 / big contract = ndu1
2357.50-2358.25
2363.00-2363.75
2371.50-2372.50
2380.75-2382.00

September 2011 Nasdaq futures support
symbols: emini = nqu1 / big contract = ndu1
2343.00-2342.25
2338.75-2337.75
2333.00-2332.50
2324.50-2323.75

---------------------------
REMINDER:
Real Time subscribers can view these updates, and also get
real time instant messages, on the web at this site:
http://www.tradestalker.com/RBIchat.htm

---------------------------

Good Trading,
Mike Reed

Copyright (c) 2011 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.

www.TradeStalker.com

PO Box 9783, Ft Wayne, IN, 46899

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.
*************************************************

07/12/11 TradeStalker's E-Mini Futures Support and Resistance Updates

.................................................
TradeStalker's
Support and Resistance Update
7 / 12 / 2011
(Published Since 1996)
...............................................

Dateline: 7:26 pm eastern time, 7/12/2011

The ES opened down about 6 points on Tuesday, and by
10AM the ES reached 1310.75 and turned back up. A
bounce took the ES up to test the late Monday high at
1319.50, then selling came in and a drop back to
1313.50 occurred before the Fed minutes were released.
After the release, the ES popped up to 1317.00, then
made a small dip back to 1315.50, and then turned up
and rallied to a 1323.25 high. Per last night's update,
we expected a reversal from the 1323.50 area, and the
market obliged. A break/hold under 1320 on the ES kept
the pressure on, and per our intraday message the ES
went back down to test the 1313-1312 zone. The ES
reached 1313.75 with 45 minutes to go and stock
trading. Buying/short covering gave a pop up to the
1317.50 level (just under the 1318 new resistance), and
being rejected the selling continued. The grind lower
off of the 1323-1324 zone took the ES down to test the
1308.50 level with 10 minutes left in stock trading,
and then the market barely budged higher into the
close.

The short-term indicators are getting oversold, but not
to a screaming oversold state just yet. The ES was able
to stay over the 1312 support for most of the day on
Tuesday, but made little progress with the exception of
the bounce up to the 1323.50 level from where a
reversal was deemed a possible. That 1312 level was
taken out late in the day, and the 1308.50
area was reached. The reversal from 1323.25 was bearish
enough, but the break and close below 1312 on the ES
just keeps the pressure on for now.

On Wednesday, we could see an oversold rally attempt to
come from lower prices. However, for now selling the
bounces should still be the better odds trade. It's
still possible that the ES drops down to the 1298 area
before getting a decent bounce attempt. In any case,
just to take some pressure off, the ES will need to get
above the 1313.75-1314.50 initial resistance, and then
hold at/above 1312 on a pullback in order to get
anything going on the upside. If that occurs, then the
1317.50 area should be hard to get over and stay there.
The market should fail there if it is still weak. If
there is no sign of a turn back down from that area,
then the Wednesday high area at 1323.25-1324.00 will be
a key area to get through. A move back to that area
should be sold, or else the market will be digging out
of its hole. If there is a good-sized rally on
Wednesday, the 1327 area should not be cleared/held. If
the market happens to get back up there, and the move
stalls out, it would set up another good selling
opportunity.

September 2011 SP futures resistance
symbols: emini = esu1 / big contract =spu1

1313.75-1314.50 key early
1317.50
1323.25-1324.00 major Wed
1326.50-1327.00 strong

September 2011 SP futures support
symbols: emini = esu1 / big contract =spu1

1308.75-1308.00 key early
1305.50-1305.00
1298.00-1297.50 major Wed
1292.50-1291.50 s.t. major

September 2011 Nasdaq futures resistance
symbols: emini = nqu1 / big contract = ndu1

2348.50-2350.00 key early
2354.25
2363.75-2365.00 major Wed
2368.75-2369.50 strong

September 2011 Nasdaq futures support
symbols: emini = nqu1 / big contract = ndu1

2340.00-2339.00 key early
2334.50-2333.75
2324.00-2422.50 major Wed
2315.50-2314.50 s.t. major

---------------------------

REMINDER:

Real Time subscribers can view these updates, and also get
real time instant messages, on the web at this site:
http://www.tradestalker.com/RBIchat.htm

---------------------------

Good Trading,
Mike Reed

Copyright (c) 2011 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.

www.TradeStalker.com

PO Box 9783, Ft Wayne, IN, 46899

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.
*************************************************

07/11/11 TradeStalker's E-Mini Futures Support and Resistance Updates

.................................................
TradeStalker's
Support and Resistance Update
7 / 11 / 2011
(Published Since 1996)
...............................................

Dateline: 8:16 pm eastern time, 7/11/2011

The ES gapped down 18.75 points on Monday and reached the
1317.75-1316.50 area (where we took profits on the other
half of our put position) on the way to a low at 1314.25
before making a bounce attempt. That bounce stalled and
reversed after reaching the 1320.50 resistance area (1320.25
was the bounce high), setting up a short, and a drop to a
lower low at 1313.50 followed. The new updated resistance
was at the 1317.25-1317.75 zone, and that bounce failed
right at the 1317.50 level and then resumed the downtrend.
The 1315.50 level turned into new trend down resistance, and
that was tested several times before the ES dropped to its
low for the day at 1311.75. With about 10 minutes left in
stock trading, buyers and short covering gave the market a
lift as the ES rallied back towards the 1320 level just
before the close.

The VIX jumped more than 15% on the close on Monday. There
is a small gap on the VIX at the 19.10-19.17 area, so if
there is early weakness and the VIX gets to that area and
turns down, it would signal that the market is turning a bit
bullish intraday. A closing Trin over 5.00 on Monday shows
capitulation also. Intermediate term, the indicators have
begun to roll over. The short-term indicators are just now
dipping into oversold territory.

Monday was a basic trend down day, until the last 15 minute
flurry to the upside. On Tuesday we should see a two-sided
day, with moves in both directions. We get the FED Minutes
at 2 PM, and that ought to help give us some more
volatility. In any case, the market did bounce back into the
close. So, for now, it looks like a drop down to test
Monday's low areas (especially the 2352-2351 area on the NQ)
would need to hold. That could be a bottom very short-term.
If 1312 on the ES and that 2352-2351 area on the NQ are
tested again, the market needs to turn around fast. If not,
then a drop down towards the 1308.50-1308.00 area on the ES
should be in the cards.

So, look to sell into early strength as soon as the upside
stalls and/or reverses. If the market is in bullish mode
then the first pullback should stay above the initial
support levels. That would be the spot to exit shorts and
look for a sign of strength to set up a quick trade on the
long side. However, if that initial support is broken then
back down to Monday's lows which should be key. If those are
broken then the next support will need to be quickly
reversed keep the market from another sharp drop. If it can
pull that off, then that reversal could set up a good rally.
On the up side, that 1320 area on the ES should be key
early, and will be reversed if the market is weak. If the
reversal doesn't come from there, then we could see a turn
back down from the 1323.50 area. If there is no sign of a
reversal from there, then a move up towards the Monday high
areas could be seen before the move shows any sign of
backing off.

September 2011 SP futures resistance
symbols: emini = esu1 / big contract =spu1

1320.00-1320.50
1323.00-1323.50 *key
1326.50-1327.00 *strong
1332.50-1333.25

September 2011 SP futures support
symbols: emini = esu1 / big contract =spu1

1315.75-1315.00
1312.00-1311.50 *key
1308.50-1308.00 *strong
1305.50-1305.00
1298.00-1297.50 *major Tues
1293.00-1292.00

September 2011 Nasdaq futures resistance
symbols: emini = nqu1 / big contract = ndu1

2368.75-2369.50
2374.75-2375.75 *key
2384.50-2385.50 *strong
2395.75-2396.50

September 2011 Nasdaq futures support
symbols: emini = nqu1 / big contract = ndu1

2360.00-2358.50
2352.00-2351.25 *key
2344.50-2343.50 *strong
2338.00-2337.00
2324.00-2422.50 *major Tues
2317.00-2315.50

---------------------------
REMINDER:

Real Time subscribers can view these updates, and also get
real time instant messages, on the web at this site:
http://www.tradestalker.com/RBIchat.htm

---------------------------

Good Trading,
Mike Reed

Copyright (c) 2011 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.

www.TradeStalker.com

PO Box 9783, Ft Wayne, IN, 46899

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.
*************************************************

07/10/11 TradeStalker's E-Mini Futures Support and Resistance Updates

.................................................
TradeStalker's
Support and Resistance Update
7 / 10 / 2011
(Published Since 1996)
...............................................

Dateline: 5:36 pm eastern time, 7/10/2011

The ES opened down 18 points on Friday's employment report,
and turned up from 1333.75 and reached 1338.00 before
fizzling out. That set up a drop down to 1329.25 by 11:30 AM
and the market reversed. Two attempts to get over the 1335
level on the ES failed, but the pullbacks were small and the
ES made a push back up to test 1338 new resistance. The move
reversed from 1337.75 and pulled back to 1333.25 before
stalling out. A move up from there lost steam and the market
began to pull back, but with 30 minutes left in stock
trading the market got turned up and broke out above the
1338 level and ran up to 1342.50 just before the close.

We took off half of the put options (bought midday and in
the last hour on Thursday) on the open on Friday, locking in
a nice profit on part of the position. Last Thursday's high
at 1252.50 shouldn't be exceeded now, so keep a stop there
on the rest of that position for now.

After seven days on the upside, one down day should not mean
a whole lot, but in this case it looks like it may be the
start of something. If the market does move higher, the
short-term indicators will not confirm a higher high. Also
if that occurs, then expect the VIX to drop down towards 15,
which should set up a top. So, the market could go back to
test last week's high, but if so the move will likely set
the market up for another drop as big or bigger than the
Friday drop.

The futures closed just under some good resistance on
Friday. If the market opens higher, then expect a reversal
to occur in the first 40 minutes at the latest. If that
plays out, then the first support at the 1338.50-1338.00
area will be key. If that area is not held, was quickly
reversed if broken, then a move back down to the 1333 area
(and around 11600 on the Dow cash) will need to hold. If the
market gets back there, and is not turned up, then the
market will be showing signs of weakness that we didn't see
last week. A move back to test the 1329.25-1328.50 area
will be in the cards, and if that breaks in we should see
1325.00-1324.50 as a key area. If there is a breakdown, and
the market does not reverse off of that support, then we
will be seeing the 1317.75-1316.50 on this leg down.

On the upside, the ES pops over the initial resistance at
1342.50-1343.00 and holds that area on a pullback (instead
of breaking right down through it), then the door is still
open for one more push higher to possibly test the 1352.50
area. If the ES gets back there, and does not double top,
then a move to the 1358 area, and possibly 1362 area, is not
impossible (but not probable unless some outside event
occurs to send prices higher). If that occurs then get ready
to short as soon as the upside stalls out because that would
be a good top if the market gets there and reverses. A setup
like this could start a move down that is more than 25
points on the ES, more likely close to 40 points or more.

September 2011 SP futures resistance
symbols: emini = esu1 / big contract =spu1

1342.50-1343.00
1347.75-1348.25
1352.50-1354.00
1358.00
1361.50-1362.50

September 2011 SP futures support
symbols: emini = esu1 / big contract =spu1

1338.50-1338.00
1333.00-1332.50
1329.25-1328.50
1325.00-1324.50
1317.75-1316.50

September 2011 Nasdaq futures resistance
symbols: emini = nqu1 / big contract = ndu1

2409.50-2410.50
2421.75-2422.50
2431.25-2432.50
2442.00
2448.00-2450.00

September 2011 Nasdaq futures support
symbols: emini = nqu1 / big contract = ndu1

2400.00-2398.50
2387.50-2386.75
2379.75-2378.75
2366.00-2364.50
2352.50-2350.50

---------------------------

REMINDER:

Real Time subscribers can view these updates, and also get
real time instant messages, on the web at this site:
http://www.tradestalker.com/RBIchat.htm

---------------------------

Good Trading,
Mike Reed

Copyright (c) 2011 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
www.TradeStalker.com

PO Box 9783, Ft Wayne, IN, 46899

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.
*************************************************

07/07/11 TradeStalker's E-Mini Futures Support and Resistance Updates

.................................................
TradeStalker's
Support and Resistance Update
7 / 7 / 2011
(Published Since 1996)
...............................................

Dateline: 8:16 pm eastern time, 7/7/2011

The ES gapped up 11.25 points on the open on Thursday and
the market stayed in a trading range until after noon. A
move to 1350.50 occurred by 1PM, but the market barely
pulled back and the ES ran up to 1352.75 by 2:30PM. A small
dip was bought, a test of the high 1352.50 was reversed.
That set up a 123 top in the last hour and gave a drop to
1348.75. That was the biggest pullback all day, and at trend
up support for the ES. But while stocks didn't budge, the
futures rallied into their close to settle well above fair
value.

With good ADP jobs numbers on Thursday, the market took off
to the upside before the open and held those gains into the late
afternoon. The market has rallied steadily higher as we come
into Friday's Employment report. A small position in put
options was put on Thursday with the ES around 1348.50 and
1352.00, and average entry around 1350 basis the ES. Another
big up day that holds gains doesn't seem to have good odds
on Friday.

In any case, it looks like the key on Friday will be holding
at, or above, the initial support areas at 1349.00-1348.50
area on the ES and 2409.00-2406.75 area on the NQ. If those
areas hold, then the up trend can continue for a bit
further. However, if those areas are broken and the market
does not quickly reverse back up, then the trends will begin
to roll over. If that is the case, then the next support
areas should be in the cards at the least.

On the upside, if there is a move over the Thursday high
areas (initial resistance) instead, then we could see either
a token higher high that reverses from the second resistance
area. If there is no sign of a turn there, then a run up to
the 1358.00-1358.50 area could occur before the market has a
decent pullback. If this is the case, then the pullback from
around 1358 would need to hold at or above initial support
areas still, or the market will begin to change character.

September 2011 SP futures resistance
symbols: emini = esu1 / big contract =spu1

1352.00-1252.75
1354.50-1355.00
1358.00-1358.50
1362.00-1362.50

September 2011 SP futures support
symbols: emini = esu1 / big contract =spu1

1349.00-1348.50
1344.25-1343.50
1339.25-1338.50
1336.00-1335.25

September 2011 Nasdaq futures resistance
symbols: emini = nqu1 / big contract = ndu1

2416.25-2418.00
2423.50-2424.00
2430.00-2431.50
2438.00-2439.00

September 2011 Nasdaq futures support
symbols: emini = nqu1 / big contract = ndu1

2409.00-2406.75
2401.75-2400.75
2392.00-2391.00
2386.00-2384.50

---------------------------

REMINDER:

Real Time subscribers can view these updates, and also get
real time instant messages, on the web at this site:

http://www.tradestalker.com/RBIchat.htm

---------------------------

Good Trading,
Mike Reed

Copyright (c) 2011 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
www.TradeStalker.com

PO Box 9783, Ft Wayne, IN, 46899

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.
************************************************

07/06/11 TradeStalker's E-Mini Futures Support and Resistance Updates

.................................................
TradeStalker's
Support and Resistance Update
7 / 6 / 2011
(Published Since 1996)
...............................................

Dateline: 8:36 pm eastern time, 7/6/2011

The ES opened down about 6 points on Wednesday and the
pressure stayed on until reaching 1326.50 about an hour into
trading. The move reversed back up but hit resistance at
1336.75 and dropped to 1331.25 with an hour left in trading.
Unable to push under 1332 and hold, buyers/ short covering
came in and the futures rallied to test the highs at the
close.

The way the market has been trading this week, it acts like
it should hold together for another day as it waits on the
employment numbers on Friday morning. Most of the internal
gauges have pulled back from overbought condition, and the
Vix is back to having just one sell signal at Wednesday's
close. These are short-term bearish divergences, and should
be worked out by Friday.

In the last hour on Wednesday the ES was able to hold the
1332 level and rallied into the close. As long as that level
holds on Thursday, then no damage will be done to the up
trend. A rally up to the 1340 level could occur early as
long as that holds (better odds if 1335 holds), but if so a
decent pullback should follow. If this plays out, then
holding the 1336-1335 area will be key to keeping the up
trend alive. That would be a mini breakout point, and also
the highs for the last three days and would be pivotal if
exceeded and then tested on a pullback.

On the other side of the coin, if there is another failure
to clear the 1336.50-1337.00 area on Thursday morning, and
the ES does not hold the 1332 area on a third test, then a
decent sized pullback is underway. A drop to test the
1328.50 area would be next and that should be about as far
as a pullback goes to keep the market from trouble. However,
if the market gets back down there and cannot get turned
back up quickly, then a drop down towards the 1325 area or
lower is likely. The biggest intraday pullback since this
rally started a week and a half ago has been 8.50 points on
the ES, and a drop of 8-10 ES points will need to hold on a
drop or the bulls will be losing control short-term at
least.

September 2011 SP futures resistance
symbols: emini = esu1 / big contract =spu1

1336.50-1337.00
1340.00
1342.00-1342.50
1345.75-1346.25
1350.50-1352.00

September 2011 SP futures support
symbols: emini = esu1 / big contract =spu1

1332.50-1332.00
1329.25-1328.50
1325.00-1324.50
1320.25-1319.75

September 2011 Nasdaq futures resistance
symbols: emini = nqu1 / big contract = ndu1

2379.75-2381.50
2388.00
2393.00-2393.50
2397.00-2399.50
2406.75-2408.50

September 2011 Nasdaq futures support
symbols: emini = nqu1 / big contract = ndu1

2367.75-2367.00
2362.00-2360.00
2355.00-2354.00
2345.00-2344.00

---------------------------
REMINDER:
Real Time subscribers can view these updates, and also get
real time instant messages, on the web at this site:

http://www.tradestalker.com/RBIchat.htm

---------------------------

Good Trading,
Mike Reed

Copyright (c) 2011 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.

www.TradeStalker.com

PO Box 9783, Ft Wayne, IN, 46899

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.
*************************************************

07/05/11 TradeStalker's E-Mini Futures Support and Resistance Updates

.................................................
TradeStalker's
Support and Resistance Update
7 / 5 / 2011
(Published Since 1996)
...............................................

Dateline: 8:36 pm eastern time, 7/5/2011

**Note: I will be away until the early afternoon
on Wednesday. I will send updates via instant
message as soon as possible but it may not be
until around 1 PM or so until I am able to do so.
My apologies.

The market opened a bit lower on Tuesday, then the ES
bounced from the 1330.25 level to 1335.25. That didn't
stick, and a drop to 1329.25 followed. A slow move up from
there failed at 1336.25 and then the ES dropped back to
1329.25 around 2 PM. That held and a bounce back to test the
highs occurred before the close.

The market gyrated on Tuesday, as the ES made these swings
intraday:
1335.25
1329.25 -6.00
1336.25 +7.00
1329.25 -7.00
1337.00 +7.75

A double bottom and double top was made, so the 1329.25-
1328.50 area on the ES is key on a drop and the 1336.75-
1338.00 area is key on top on Wednesday. The internal gauges
are still overbought, and the Vix reversal on Tuesday gave
3 of 5 sell signals. Odds still favor more downside action
short term.

On Wednesday we should get more two-sided action, but if the
1329.25-1328.50 area is tested again and not held, then a
top of some sort should be forming. Look for early strength
to be sold, and if that plays out then the 1332.00 will be
the first area that needs to hold. If that is held, then the
market could make another push higher. If that level is
broken, then the key support at the Tuesday lows will be
next. If that area is broken and not quickly reversed back
up, then the trend will be changing in a drop back towards
the 1320 area on the ES is likely. If the market gets hit
with selling on Wednesday, then the major area below is at
the 1313.25-1312.50 zone on the ES. If the market gets back
there over the next day or two, then another bounce back to
test these highs will be likely. However, the market sells
off that hard and cannot get turned back around, then the
market could get itself back into trouble.

On the other side of coin, if they pull back and hold the
1332 area and bounce back, then we could still see a move up
to test the 1342 area on the ES on this leg up. At the
worst, a test of the 1329.25-1328.50 area (or just a bit
lower then quickly turn up) that holds is about all that can
keep the market from getting into some trouble on Wednesday.
If the initial resistances cleared in the early going, and
not quickly reversed as expected, then the market can avoid
that deeper pullback until perhaps later in the day on
Wednesday.

**Note: I will be away until the early afternoon
on Wednesday. I will send updates via instant
message as soon as possible but it may not be
until around 1 PM or so until I am able to do so.
My apologies.

September 2011 SP futures resistance
symbols: emini = esu1 / big contract =spu1

1336.50-1337.00
1342.00-1342.50
1345.75-1346.25
1350.50-1352.00

September 2011 SP futures support
symbols: emini = esu1 / big contract =spu1

1332.00
1329.25-1328.50
1325.00-1324.50
1320.25-1319.75
1313.25-1312.50
1308.25-1307.50

September 2011 Nasdaq futures resistance
symbols: emini = nqu1 / big contract = ndu1

2371.50-2372.00
2379.75-2381.50
2388.00-2389.50
2397.00-2399.50

September 2011 Nasdaq futures support
symbols: emini = nqu1 / big contract = ndu1

2365.00
2362.00-2360.00
2355.00-2354.00
2345.00-2344.00
2337.75-2336.50
2328.25-2327.50

---------------------------
REMINDER:
Real Time subscribers can view these updates, and also get
real time instant messages, on the web at this site:
http://www.tradestalker.com/RBIchat.htm

---------------------------

Good Trading,
Mike Reed

Copyright (c) 2011 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.

www.TradeStalker.com

PO Box 9783, Ft Wayne, IN, 46899

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.
*************************************************

07/04/11 TradeStalker's E-Mini Futures Support and Resistance Updates

.................................................
TradeStalker's
Support and Resistance Update
7 / 4 / 2011
(Published Since 1996)
...............................................

Dateline: 5:36 pm eastern time, 7/4/2011

Last week was a good week for the Bulls. The market closed
higher every day last week, even in the face of some extreme
over bought internal indicators. On Friday, the ES held
above the 1312 key support level on its first pullback, and
then shot higher on the ISM data release. The move didn't
stall until reaching 1328 on the ES, and then per normal for
the uptrend last week there was just a small 3 point
pullback by the ES before the move continued. The 1336.50
level was reached shortly before the close.

The market has rallied now to the area where the break down
began on June 1. Up between 1339 and 1342 on the ES there
should be very good resistance, if for nothing else than to
get the last trapped traders from a month ago back to even
where they should be looking to get out. There are other
reasons that the market should have some difficulty moving
forward without some sort of pullback first.

First off, the market has gone straight up for five days,
and although it has ignored extreme overbought readings for
two days, this is not a good time to be diving in on the
long side. Odds favor a decent pullback soon. The biggest
intraday pullback last week was 8 points on the ES. There
were a number of 3.50-4.50 point pullback's intraday last
week, as the five day move higher was well contained and
barely took a breath before moving on up.

The short-term indicators didn't relieve any of the
overbought status on Friday. In fact, the closing Trin was
at a miniscule .41 Friday and further stretched the short-
term over bought condition. Odds had favored a pullback on
Thursday and we didn't get one. Instead the market rallied
for two more days so far. This is not a common occurrence
when the indicators set up as they did last week. It's more
reason to expect things to return to normal early next week.
As for price indicators, the S&P 500 cash closed more than
three standard deviations above the 20 day moving average on
Friday. Finally, the put call ratio which had reached a very
big extreme a little over a week ago has gone in a straight
line drop... kind of opposite of prices over the past week
and a half. The weight of the evidence favors a pullback
early this week.

On Tuesday morning the 1332.50-1331.50 initial support will
need to hold on a pullback, otherwise it will be a sign of
topping out and bounces should then fail. If the ES breaks
that zone, then the 1328.50 area would be next. That should
be key since the biggest dip last week was 8 points on the
ES and that would be an eight point pullback from Friday's
high.

September 2011 SP futures resistance
symbols: emini = esu1 / big contract =spu1

1336.75-1238.00
1342.00-1342.50
1345.75-1346.25
1350.50-1352.00

September 2011 SP futures support
symbols: emini = esu1 / big contract =spu1

1332.50-1331.50
1328.50-1327.75
1325.00-1324.50
1320.25-1319.75

September 2011 Nasdaq futures resistance
symbols: emini = nqu1 / big contract = ndu1

2360.75-2362.25
2371.50-2372.00
2378.50-2379.60
2388.00-2389.50

September 2011 Nasdaq futures support
symbols: emini = nqu1 / big contract = ndu1

2353.00-2352.00
2345.00-2344.00
2337.75-2336.50
2328.25-2327.50

---------------------------

REMINDER:

Real Time subscribers can view these updates, and also get
real time instant messages, on the web at this site:

http://www.tradestalker.com/RBIchat.htm

---------------------------

Good Trading,
Mike Reed

Copyright (c) 2011 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.

www.TradeStalker.com

PO Box 9783, Ft Wayne, IN, 46899

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.
*************************************************

06/30/11 TradeStalker's E-Mini Futures Support and Resistance Updates

.................................................
TradeStalker's
Support and Resistance Update
6 / 30 / 2011
(Published Since 1996)
...............................................

Dateline: 8:23 pm eastern time, 6/30/2011

The ES opened higher on Thursday and a pullback from 1307.50
held the updated 1305.50 support and shot higher to 1316.75
by noon. The move ran out of gas, and a pullback too the ES
to 1312.25 with an hour left in stock trading. Buyers/ short
covering ran the ES to a token higher high at 1317.50 and
then backed off and pulled back into the close.

The market closed higher every day this week so far. The
SP500 cash is up 52.19 points on a closing basis. There has
been 4 days in a row with over 2000 advancing issues on the
NYSE, normally a set-up for a pullback. For the second day
in a row both the RBI oscillator is in overbought territory
along with the three-day thrust oscillator being at in
extreme overbought reading. Under most cases the market will
at best have trouble making more progress on the upside.
More often not, the market will sell off to relieve the
overbought condition. It's not just these two indicators
that are overbought. The short-term volume oscillators are
also at extremes, with the four-day volume oscillator over
.80. Also, with the four day string of 2000 (or more)
advancing issues on the NYSE, short-term breath oscillators
are also overbought. The McClellan oscillator is above plus
200 for the first time in a few months. The Vix dropped
under 17 on Thursday and now is giving two of a possible
five VIX sell signals.

The market can get overbought and stay overbought when all
the conditions are favorable. The market had been in a
trading range, but is trying to break out on the upside. A
failure to do so early on Friday should cause some profit-
taking in front of the holiday, at the least. As long as a
pullback can hold around the 1312 area on the ES, then the
up trend can continue. However, if that area is broken and
the market does not quickly turn right back up, then things
could be changing. A move down to the 1308.50-1308.00 area
on the ES would be next, and appears to be a key support if
it's tested. If the market gets back down there, it must get
turned back up with good buying, otherwise they drop back
down to the 1302 area.

So, on Friday look for early strength to be reversed in the
first 30 minutes of trading. If there is a small pop up
higher on the open, then expect a reversal from that type of
action. If that plays out, look to take off part of the
position around the 1312 area on the ES and tighten up your
stop on the remainder. If there is no sign of turning back
up from that 1312 area, then we should see the 1308 area and
possibly back down towards 1302 if the downside gathers some
steam. On the upside, it will take a break and hold over
1317.50- 1318.00 area to keep the upside going and possibly
go for the 1325 area before this move is over.

Have a great, safe, holiday weekend! The next nightly update
will be sent on Monday.

September 2011 SP futures resistance
symbols: emini = esu1 / big contract =spu1

1317.50-1318.00
1324.25-1325.00
1328.25-1329.00

September 2011 SP futures support
symbols: emini = esu1 / big contract =spu1

1312.50-1312.00
1308.50-1308.00
1302.00-1310.75

September 2011 Nasdaq futures resistance
symbols: emini = nqu1 / big contract = ndu1

2323.50-2324.50
2337.75-2338.50
2342.75-2344.50

September 2011 Nasdaq futures support
symbols: emini = nqu1 / big contract = ndu1

2316.50-2316.00
2307.00-2306.50
2298.00-2296.50

---------------------------

REMINDER:

Real Time subscribers can view these updates, and also get
real time instant messages, on the web at this site:

http://www.tradestalker.com/RBIchat.htm

---------------------------

Good Trading,
Mike Reed

Copyright (c) 2011 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.

www.TradeStalker.com

PO Box 9783, Ft Wayne, IN, 46899

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.
*************************************************