HOW OUR DAY WENT:
We were looking to buy a lower open
and the ES reversed from a direct hit of the 1014.75-
1014.25 support. The ES rallied 13 points in 40 minutes
and then reversed. Members were told that there was good
resistance at 1024.50-1025.00, and the bounce reversed
right from 1024.50 -- and then the bottom fell out. After
falling another 24 points the ES reversed from 1000.25.
I then sent an I.M. stating:
(Sep 01-11:38) mike: the 1005.25-1006.00 trend resist
The ES popped up to 1005.25, and it was a lid for the
ES as it dropped to 997.50 and then bounced. Updated
resistance was at the 1002.50-1003.00 area, and the ES
reached 1002.75 then turned back down, dropping 4 points
to 998.50. Another bounce to 1002.25 reversed and the
ES dropped 7 more points to 995.25 before the close. A
fantastic day for our group.
Good Trading,
Mike Reed
TradeStalker.com
Showing posts with label Nasdaq. Show all posts
Showing posts with label Nasdaq. Show all posts
Tuesday, September 01, 2009
Tuesday, August 25, 2009
TradeStalker's RBI Update 08/23/09
.................................................
TradeStalker's
R.B.I. Trader's Update
8 / 23 / 2009
(Published Since 1996)
...............................................
Dateline: 5:26 pm eastern time, 8/23/2009
Last week started with the ES dropping 21.50 points off of
the 1005.75 previous Friday close. On Tuesday and Wednesday,
the ES was reversed from just under the 980 level and by
Thursday's close the ES made it a round trip back to close
at 1004.75. I was expecting a selloff from there, but on
Friday the ES gapped up 9 points on the open. That was a
breakout to a new recovery high, and the ES rallied to the
1027.00 before backing off a bit into the close.
The market continues to be very resilient, as buying
continues to come in on the pullbacks. Right now however,
the market should be a bit extended. The closing Trin on
Friday was a miniscule .30. If the numbers were turned
around, that is the same as a closing Trin at 3.40. Those
are short term extremes that tend to mark a turn in the
trend within the next 7 trading hours. In addition, the
short term gauges are at big extremes on the overbought
side. Finally, the Vix jumped way up on Monday and it gave a
couple buy signals, but at Friday's close we had the
opposite and one Vix sell signal.
So, it looks like the market should pull back some early in
the week, and then when we get to Wednesday the end of month
upside bias should take hold and give the market a lift. On
Monday look for early strength to set up a shorting
opportunity. However, as long as the ES doesn't break the
1021.00-1020.50 area, the trends will still point higher. If
that area breaks, there should be strong support around the
1014.75-1014.00 area that should hold unless the market is
losing its strength.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
1026.50-1027.00
1030.50-1031.00
1036.00-1036.50
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
1024.75
1021.00-1020.50
1014.75-1014.00
1007.75-1007.00 **strong
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1639.00-1639.75
1645.50-1646.00
1652.00-1653.50
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1633.75
1627.75-1627.00
1620.50-1620.00
1610.50-1608.75 **strong
September 2009 Dow futures resistance
symbols: emini = ymu9
9504-9508
9541-9544
9591-9596
September 2009 Dow futures support
symbols: emini = ymu9
9478
9464-9460
9408-9404
9350-9346 **strong
---------------------------
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2009 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.
*************************************************
TradeStalker's
R.B.I. Trader's Update
8 / 23 / 2009
(Published Since 1996)
...............................................
Dateline: 5:26 pm eastern time, 8/23/2009
Last week started with the ES dropping 21.50 points off of
the 1005.75 previous Friday close. On Tuesday and Wednesday,
the ES was reversed from just under the 980 level and by
Thursday's close the ES made it a round trip back to close
at 1004.75. I was expecting a selloff from there, but on
Friday the ES gapped up 9 points on the open. That was a
breakout to a new recovery high, and the ES rallied to the
1027.00 before backing off a bit into the close.
The market continues to be very resilient, as buying
continues to come in on the pullbacks. Right now however,
the market should be a bit extended. The closing Trin on
Friday was a miniscule .30. If the numbers were turned
around, that is the same as a closing Trin at 3.40. Those
are short term extremes that tend to mark a turn in the
trend within the next 7 trading hours. In addition, the
short term gauges are at big extremes on the overbought
side. Finally, the Vix jumped way up on Monday and it gave a
couple buy signals, but at Friday's close we had the
opposite and one Vix sell signal.
So, it looks like the market should pull back some early in
the week, and then when we get to Wednesday the end of month
upside bias should take hold and give the market a lift. On
Monday look for early strength to set up a shorting
opportunity. However, as long as the ES doesn't break the
1021.00-1020.50 area, the trends will still point higher. If
that area breaks, there should be strong support around the
1014.75-1014.00 area that should hold unless the market is
losing its strength.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
1026.50-1027.00
1030.50-1031.00
1036.00-1036.50
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
1024.75
1021.00-1020.50
1014.75-1014.00
1007.75-1007.00 **strong
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1639.00-1639.75
1645.50-1646.00
1652.00-1653.50
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1633.75
1627.75-1627.00
1620.50-1620.00
1610.50-1608.75 **strong
September 2009 Dow futures resistance
symbols: emini = ymu9
9504-9508
9541-9544
9591-9596
September 2009 Dow futures support
symbols: emini = ymu9
9478
9464-9460
9408-9404
9350-9346 **strong
---------------------------
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2009 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.
*************************************************
Wednesday, August 19, 2009
TradeStalker's RBI Update 08/19/09
.................................................
TradeStalker's
R.B.I. Trader's Update
8 / 19 / 2009
(Published Since 1996)
...............................................
Dateline: 6:21 pm eastern time, 8/19/2009
The ES opened down 11 points on Wednesday and reversed right
from the get-go. The break and hold back over the 981.00-
981.50 zone was good for a sprint to 988.75 before the move
fizzled. A triangle pattern formed, but the market was
"okay" if 985.50 held and that was the pullback low before
the market shot higher again. The rally was rejected just 1
tick over the 998.00-998.50 resistance zone, and then a
pullback to 991.50 followed. Buyers stepped to the plate in
the last 45 minutes and the market rallied into the close.
On Thursday we get initial jobless claims before the open,
and it could be a market mover. The drops, no matter how
hard, are finding buyers coming in and it is keeping the
market afloat. However, when the upside stalls out we get
good tradable pullbacks. For now, treat this as a trading
range. Look for a buying opportunity if the market gets hit
again, but still holds over the 975.50-974.50 area on the
ES. On the upside, should the ES rally back over the 1000
level, beware of a reversal when the move stalls out. It
looks like the 1006.50-1007.00 area on the ES should offer
strong resistance.
On Thursday look to "fade" the early emotion especially if
there is a pop up open that reverses in the first 30 minutes
or so. If that plays out, a drop back towards the 989.50-
989.00 area should be reversed if the market is still in
good shape.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
998.25-998.75
1003.50-1004.00
1006.50-1007.00 **key area
1012.00-1012.50
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
992.00-991.50
989.50-989.00 **should hold if strong market
985.50-985.00
981.50-981.00
975.50-974.50 ** short term major
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1600.75-1601.75
1609.50-1610.50
1615.75-1616.50 **key area
1622.50-1623.50
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1592.00-1591.50
1586.50-1586.00 **should hold if strong market
1579.00-1578.25
1572.50-1571.25
1562.25-1561.25 ** short term major
September 2009 Dow futures resistance
symbols: emini = ymu9
9297-9301
9347-9351
9374-9378 **key area
9428-9431
September 2009 Dow futures support
symbols: emini = ymu9
9242-9238
9213-9209 **should hold if strong market
9178-9173
9154-9149
9091-9085 ** short term major
CLICK HERE for FREE Trading Articles and Videos!
Good Trading,
Mike Reed
Copyright (c) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
This publication's primary focus is trading the index
futures. 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.
*************************************************
TradeStalker's
R.B.I. Trader's Update
8 / 19 / 2009
(Published Since 1996)
...............................................
Dateline: 6:21 pm eastern time, 8/19/2009
The ES opened down 11 points on Wednesday and reversed right
from the get-go. The break and hold back over the 981.00-
981.50 zone was good for a sprint to 988.75 before the move
fizzled. A triangle pattern formed, but the market was
"okay" if 985.50 held and that was the pullback low before
the market shot higher again. The rally was rejected just 1
tick over the 998.00-998.50 resistance zone, and then a
pullback to 991.50 followed. Buyers stepped to the plate in
the last 45 minutes and the market rallied into the close.
On Thursday we get initial jobless claims before the open,
and it could be a market mover. The drops, no matter how
hard, are finding buyers coming in and it is keeping the
market afloat. However, when the upside stalls out we get
good tradable pullbacks. For now, treat this as a trading
range. Look for a buying opportunity if the market gets hit
again, but still holds over the 975.50-974.50 area on the
ES. On the upside, should the ES rally back over the 1000
level, beware of a reversal when the move stalls out. It
looks like the 1006.50-1007.00 area on the ES should offer
strong resistance.
On Thursday look to "fade" the early emotion especially if
there is a pop up open that reverses in the first 30 minutes
or so. If that plays out, a drop back towards the 989.50-
989.00 area should be reversed if the market is still in
good shape.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
998.25-998.75
1003.50-1004.00
1006.50-1007.00 **key area
1012.00-1012.50
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
992.00-991.50
989.50-989.00 **should hold if strong market
985.50-985.00
981.50-981.00
975.50-974.50 ** short term major
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1600.75-1601.75
1609.50-1610.50
1615.75-1616.50 **key area
1622.50-1623.50
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1592.00-1591.50
1586.50-1586.00 **should hold if strong market
1579.00-1578.25
1572.50-1571.25
1562.25-1561.25 ** short term major
September 2009 Dow futures resistance
symbols: emini = ymu9
9297-9301
9347-9351
9374-9378 **key area
9428-9431
September 2009 Dow futures support
symbols: emini = ymu9
9242-9238
9213-9209 **should hold if strong market
9178-9173
9154-9149
9091-9085 ** short term major
CLICK HERE for FREE Trading Articles and Videos!
Good Trading,
Mike Reed
Copyright (c) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
This publication's primary focus is trading the index
futures. 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.
*************************************************
Wednesday, May 13, 2009
TradeStalker's RBI Update 05/13/09
.................................................
TradeStalker's
R.B.I. Trader's Update
5 / 13 / 2009
(Published Since 1996)
...............................................
Dateline: 6:20 pm eastern time, 5/13/2009
The market gapped down on Wednesday and after about 30
minutes of trading there was a pop to the upside. The ES
reached 895.50 and it filled the gap on the daily chart and
then the move fizzled and reversed. The market went trend-
down to the 880.00 level on the ES by 1 pm and then the
market chopped back and forth for the last 3 hours of
trading.
After looking toppy last week after reaching 927 on the ES,
the market dropped 3 straight days and is now getting short
term oversold. It looks like if the initial support is held
on Thursday, a decent rebound could begin. However, if the
Wednesday lows are broken, and not quickly reversed, then we
could see a drop towards the 873.00-872.50 zone on the ES.
If that isn't held, then the 868.25-867.50 zone would be a
major area to hold. If the market cannot defend that area
then a big down day could be in the cards.
Since the market looks like it has topped out, look for a
decent rally to be sold once the upside momentum fizzles. If
the market opens lower and reverses back up, then look for a
trading opportunity on the long side. If that plays out,
don't get married to the long side. A rally back towards the
899.25-899.75 area on the ES that stalls/reverses should set
up a good shorting opportunity.
June 2009 SP futures resistance
symbols: emini = esm9 / big contract =spm9
886.25-886.75
890.50-891.00
895.00-895.50
899.25-899.75
902.50-903.25
June 2009 SP futures support
symbols: emini = esm9 / big contract =spm9
880.75-880.00
873.00-872.50
868.25-867.50
June 2009 Nasdaq futures resistance
symbols: emini = nqm9 / big contract = ndm9
1347.50-1348.25
1352.75-1354.50
1359.75-1360.25
1365.75-1366.50
1372.75-1374.50
June 2009 Nasdaq futures support
symbols: emini = nqm9 / big contract = ndm9
1339.00-1338.25
1330.50-1329.75
1324.75-1322.75
June 2009 Dow futures resistance
symbols: emini = ymm9
8300-8304
8337-8341
8376-8381
8403-8407
8433-8437
June 2009 Dow futures support
symbols: emini = ymm9
8342-8337
8288-8283
8241-8237
CLICK HERE for FREE Trading Articles and Videos!
Good Trading,
Mike Reed
Copyright (c) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
This publication's primary focus is trading the index
futures. 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.
*************************************************
TradeStalker's
R.B.I. Trader's Update
5 / 13 / 2009
(Published Since 1996)
...............................................
Dateline: 6:20 pm eastern time, 5/13/2009
The market gapped down on Wednesday and after about 30
minutes of trading there was a pop to the upside. The ES
reached 895.50 and it filled the gap on the daily chart and
then the move fizzled and reversed. The market went trend-
down to the 880.00 level on the ES by 1 pm and then the
market chopped back and forth for the last 3 hours of
trading.
After looking toppy last week after reaching 927 on the ES,
the market dropped 3 straight days and is now getting short
term oversold. It looks like if the initial support is held
on Thursday, a decent rebound could begin. However, if the
Wednesday lows are broken, and not quickly reversed, then we
could see a drop towards the 873.00-872.50 zone on the ES.
If that isn't held, then the 868.25-867.50 zone would be a
major area to hold. If the market cannot defend that area
then a big down day could be in the cards.
Since the market looks like it has topped out, look for a
decent rally to be sold once the upside momentum fizzles. If
the market opens lower and reverses back up, then look for a
trading opportunity on the long side. If that plays out,
don't get married to the long side. A rally back towards the
899.25-899.75 area on the ES that stalls/reverses should set
up a good shorting opportunity.
June 2009 SP futures resistance
symbols: emini = esm9 / big contract =spm9
886.25-886.75
890.50-891.00
895.00-895.50
899.25-899.75
902.50-903.25
June 2009 SP futures support
symbols: emini = esm9 / big contract =spm9
880.75-880.00
873.00-872.50
868.25-867.50
June 2009 Nasdaq futures resistance
symbols: emini = nqm9 / big contract = ndm9
1347.50-1348.25
1352.75-1354.50
1359.75-1360.25
1365.75-1366.50
1372.75-1374.50
June 2009 Nasdaq futures support
symbols: emini = nqm9 / big contract = ndm9
1339.00-1338.25
1330.50-1329.75
1324.75-1322.75
June 2009 Dow futures resistance
symbols: emini = ymm9
8300-8304
8337-8341
8376-8381
8403-8407
8433-8437
June 2009 Dow futures support
symbols: emini = ymm9
8342-8337
8288-8283
8241-8237
CLICK HERE for FREE Trading Articles and Videos!
Good Trading,
Mike Reed
Copyright (c) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
This publication's primary focus is trading the index
futures. 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.
*************************************************
Thursday, March 26, 2009
TradeStalker's RBI Update 03/22/09
.................................................
TradeStalker's
R.B.I. Trader's Update
3 / 22 / 2009
(Published Since 1996)
...............................................
Dateline: 5:17 pm eastern time, 3/22/2009
After a drop to 746.00 on the ES early in the week, the
market rallied strongly into Wednesday afternoon. The SP500
revisited the scene of the crime, where the February 17th
breakdown was triggered, and it coincided with a 50%
retracement and a falling 50 day moving average. With that
being too much to get through after a 20% rally off the low,
that marked a top that was sold again on Thursday's open.
After a poor day, a number of sell signals flashed for
Friday's trading, and we got just that. The ES made a double
top at the 785.00 initial resistance level, and it was a
trend down move to 761.50 with 2 hours to go in the trading
day. That was just 1 tick under the last listed support zone
at 762.00-761.75, and the ES bounced back to 771.75. The
move fizzled and failed and the ES went back down to test
the low at the 4 pm close for stocks.
The high and low were both at resistance and support areas
on Friday. The market is just 2 days off of what appears to
be a decent trading high, so the bounces should continue to
fail. The sentiment reached extremes not seen in more than a
year in the options market and the Vix giving 4 sell signals
in 2 days hasn't been reversed just yet. This move could
take the ES back towards the 749.00-748.50 zone on this leg
down. If that occurs, and the market can get turned back up,
then another decent rally could occur. If there is a selloff
to that area, and it isn't reversed, then the market will be
breaking back down. Odds would then favor a drop back to the
734-733 area, and possibly back under 720 before a reversal
occurs.
On Monday, if the ES breaks the 762.00-761.50 area and can
quickly reverse back up, then a decent trade could set up on
the long side. On the other side of the coin, a pop up open
that fizzles will offer a good shorting opportunity. After
the early going, it will take a break and hold over the
initial resistance zones to change the downside pace. If
that happens, there could be more upside but beware of a
reversal as the bounces are not sticking.
June 2009 SP futures resistance
symbols: emini = esm9 / big contract =spm9
772.50-773.25
779.50-780.25 **key**
784.50-785.25 **major Monday**
789.25-790.00
June 2009 SP futures support
symbols: emini = esm9 / big contract =spm9
762.00-761.50
758.00-757.50
753.00-752.50
749.00-748.50
June 2009 Nasdaq futures resistance
symbols: emini = nqm9 / big contract = ndm9
1194.25-1195.00
1204.25-1205.25 **key**
1213.50-1214.00 **major Monday**
1220.50-1222.00
June 2009 Nasdaq futures support
symbols: emini = nqm9 / big contract = ndm9
1178.00-1177.25
1172.75-1172.00
1166.50-1165.50
1161.75-1161.00
June 2009 Dow futures resistance
symbols: emini = ymm9
7288-7291
7375-7380 **key**
7402-7406 **major Monday**
7461-7464
June 2009 Dow futures support
symbols: emini = ymm9
7201-7197
7164-7158
7112-7107
7078-7074
---------------------------
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2009 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.
This publication's primary focus is trading the index
futures. However, you can also use my nightly updates to
trade the following ETF's (SPY), (QQQQ), (SDS), (QID),
(DIA), and (DOG
*************************************************
TradeStalker's
R.B.I. Trader's Update
3 / 22 / 2009
(Published Since 1996)
...............................................
Dateline: 5:17 pm eastern time, 3/22/2009
After a drop to 746.00 on the ES early in the week, the
market rallied strongly into Wednesday afternoon. The SP500
revisited the scene of the crime, where the February 17th
breakdown was triggered, and it coincided with a 50%
retracement and a falling 50 day moving average. With that
being too much to get through after a 20% rally off the low,
that marked a top that was sold again on Thursday's open.
After a poor day, a number of sell signals flashed for
Friday's trading, and we got just that. The ES made a double
top at the 785.00 initial resistance level, and it was a
trend down move to 761.50 with 2 hours to go in the trading
day. That was just 1 tick under the last listed support zone
at 762.00-761.75, and the ES bounced back to 771.75. The
move fizzled and failed and the ES went back down to test
the low at the 4 pm close for stocks.
The high and low were both at resistance and support areas
on Friday. The market is just 2 days off of what appears to
be a decent trading high, so the bounces should continue to
fail. The sentiment reached extremes not seen in more than a
year in the options market and the Vix giving 4 sell signals
in 2 days hasn't been reversed just yet. This move could
take the ES back towards the 749.00-748.50 zone on this leg
down. If that occurs, and the market can get turned back up,
then another decent rally could occur. If there is a selloff
to that area, and it isn't reversed, then the market will be
breaking back down. Odds would then favor a drop back to the
734-733 area, and possibly back under 720 before a reversal
occurs.
On Monday, if the ES breaks the 762.00-761.50 area and can
quickly reverse back up, then a decent trade could set up on
the long side. On the other side of the coin, a pop up open
that fizzles will offer a good shorting opportunity. After
the early going, it will take a break and hold over the
initial resistance zones to change the downside pace. If
that happens, there could be more upside but beware of a
reversal as the bounces are not sticking.
June 2009 SP futures resistance
symbols: emini = esm9 / big contract =spm9
772.50-773.25
779.50-780.25 **key**
784.50-785.25 **major Monday**
789.25-790.00
June 2009 SP futures support
symbols: emini = esm9 / big contract =spm9
762.00-761.50
758.00-757.50
753.00-752.50
749.00-748.50
June 2009 Nasdaq futures resistance
symbols: emini = nqm9 / big contract = ndm9
1194.25-1195.00
1204.25-1205.25 **key**
1213.50-1214.00 **major Monday**
1220.50-1222.00
June 2009 Nasdaq futures support
symbols: emini = nqm9 / big contract = ndm9
1178.00-1177.25
1172.75-1172.00
1166.50-1165.50
1161.75-1161.00
June 2009 Dow futures resistance
symbols: emini = ymm9
7288-7291
7375-7380 **key**
7402-7406 **major Monday**
7461-7464
June 2009 Dow futures support
symbols: emini = ymm9
7201-7197
7164-7158
7112-7107
7078-7074
---------------------------
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2009 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.
This publication's primary focus is trading the index
futures. However, you can also use my nightly updates to
trade the following ETF's (SPY), (QQQQ), (SDS), (QID),
(DIA), and (DOG
*************************************************
Wednesday, March 04, 2009
TradeStalker's RBI Update 03/04/09
.................................................
TradeStalker's
R.B.I. Trader's Update
3 / 4 / 2009
(Published Since 1996)
...............................................
Dateline: 6:14 pm eastern time, 3/4/2009
Free Trading Tutorial, trading videos:
Please visit our website: CLICK HERE
The market opened higher on Wednesday, but the early
strength was sold and the ES dropped from 710.50 to 699.00
in the first 50 minutes of trading. A reversal back up
through 700 on the ES brought in more buying and the ES
rallied to 714.50 by noon. A pullback broke the 706 support,
but the move was reversed and the rally was back in gear.
After a pause around the early high, the ES ran up to 723.75
with 30 minutes left in trading. That was just under the
724.00-724.50 updated resistance zone, and the bulls failed
in their mission to close well. Instead, the bear reminded
us it's still here as the market dropped hard into the
close. In the last 30 minutes the ES dropped 16 points while
the NQ dropped 21.25 points as they settled well under fair
value.
The bounces, no matter how good they look, are still suspect
as they just won't stick. As stated last night, the upside
is not going to be "easy" due to all of the damage that has
been done. There will be eager sellers all the way up, so if
you have profits on a long trade grab them when the upside
momentum fizzles. Or at least, be sure to trail stops.
The market action erased some of the very extreme oversold
readings on the internal gauges on Wednesday. The Vix
flashed one sell signal in the process, as the sentiment
made a reversal from overly bullish.
There is a lot on the economic docket on Thursday. Should
the market open higher, look for a shorting opportunity as
soon as the upside fizzles. If the market opens lower, then
a pop back towards the 712.50-713.00 that fizzles sets up a
shorting opportunity. As for the long side, a drop under 700
that reverses back up through that level should trigger
buying. If that occurs, it could be good for a rebound.
However, if the 700 level is broken and not quickly
reversed, then we could head back towards the 688.00-687.50
zone, and possibly down to the 682.50-681.50 zone. If the ES
happens to reach that 682.50-681.50 zone, and then turns up,
it should set up a great buying opportunity for a trade.
March 2009 SP futures resistance
symbols: emini = esh9 / big contract =sph9
712.50-713.00
717.25-717.50
723.50-724.00
732.50-733.00
March 2009 SP futures support
symbols: emini = esh9 / big contract =sph9
707.50-707.00
700.00-699.50
694.75-694.00
688.00-687.50
682.50-681.50
March 2009 Nasdaq futures resistance
symbols: emini = nqh9 / big contract = ndh9
1110.00-1110.50
1115.50-1116.50
1124.50-1125.00
1134.50-1135.50
March 2009 Nasdaq futures support
symbols: emini = nqh9 / big contract = ndh9
1096.50-1095.50
1090.25-1089.50
1085.75-1085.00
1078.75-1078.00
1068.75-1068.00
March 2009 Dow futures resistance
symbols: emini = ymh9
6877-6882
6919-6924
6967-6972
7048-7053
March 2009 Dow futures support
symbols: emini = ymh9
6827-6823
6765-6760
6698-6693
6648-6643
6612-6607
---------------------------
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
This publication's primary focus is trading the index
futures. 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.
*************************************************
TradeStalker's
R.B.I. Trader's Update
3 / 4 / 2009
(Published Since 1996)
...............................................
Dateline: 6:14 pm eastern time, 3/4/2009
Free Trading Tutorial, trading videos:
Please visit our website: CLICK HERE
The market opened higher on Wednesday, but the early
strength was sold and the ES dropped from 710.50 to 699.00
in the first 50 minutes of trading. A reversal back up
through 700 on the ES brought in more buying and the ES
rallied to 714.50 by noon. A pullback broke the 706 support,
but the move was reversed and the rally was back in gear.
After a pause around the early high, the ES ran up to 723.75
with 30 minutes left in trading. That was just under the
724.00-724.50 updated resistance zone, and the bulls failed
in their mission to close well. Instead, the bear reminded
us it's still here as the market dropped hard into the
close. In the last 30 minutes the ES dropped 16 points while
the NQ dropped 21.25 points as they settled well under fair
value.
The bounces, no matter how good they look, are still suspect
as they just won't stick. As stated last night, the upside
is not going to be "easy" due to all of the damage that has
been done. There will be eager sellers all the way up, so if
you have profits on a long trade grab them when the upside
momentum fizzles. Or at least, be sure to trail stops.
The market action erased some of the very extreme oversold
readings on the internal gauges on Wednesday. The Vix
flashed one sell signal in the process, as the sentiment
made a reversal from overly bullish.
There is a lot on the economic docket on Thursday. Should
the market open higher, look for a shorting opportunity as
soon as the upside fizzles. If the market opens lower, then
a pop back towards the 712.50-713.00 that fizzles sets up a
shorting opportunity. As for the long side, a drop under 700
that reverses back up through that level should trigger
buying. If that occurs, it could be good for a rebound.
However, if the 700 level is broken and not quickly
reversed, then we could head back towards the 688.00-687.50
zone, and possibly down to the 682.50-681.50 zone. If the ES
happens to reach that 682.50-681.50 zone, and then turns up,
it should set up a great buying opportunity for a trade.
March 2009 SP futures resistance
symbols: emini = esh9 / big contract =sph9
712.50-713.00
717.25-717.50
723.50-724.00
732.50-733.00
March 2009 SP futures support
symbols: emini = esh9 / big contract =sph9
707.50-707.00
700.00-699.50
694.75-694.00
688.00-687.50
682.50-681.50
March 2009 Nasdaq futures resistance
symbols: emini = nqh9 / big contract = ndh9
1110.00-1110.50
1115.50-1116.50
1124.50-1125.00
1134.50-1135.50
March 2009 Nasdaq futures support
symbols: emini = nqh9 / big contract = ndh9
1096.50-1095.50
1090.25-1089.50
1085.75-1085.00
1078.75-1078.00
1068.75-1068.00
March 2009 Dow futures resistance
symbols: emini = ymh9
6877-6882
6919-6924
6967-6972
7048-7053
March 2009 Dow futures support
symbols: emini = ymh9
6827-6823
6765-6760
6698-6693
6648-6643
6612-6607
---------------------------
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
This publication's primary focus is trading the index
futures. 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.
*************************************************
Sunday, July 27, 2008
TradeStalker's RBI Update 07/24/08
.................................................
TradeStalker's
R.B.I. Trader's Update
7 / 24 / 2008
(Published Since 1996)
...............................................
Dateline: 7:31 pm eastern time, 7/24/2008
** Please Note: Mike sends out numerous updates throughout
the trading day to our subscribers. Go here now to
subscribe: http://www.tradestalker.com/order-page.htm
After a flat open on Thursday, the market was hit with
selling. There was a very small bounce off of the 1277.50
level on the SP futures, but after getting to 1280.25
another wave of selling started. The drop took the SP
futures to just above the 1263.00-1262.25 key support zone,
and the SP futures made a little double bottom there.
However, the SP futures couldn't get over 1268 and hold, and
the selling continued in trend-down mode. The SP futures
dropped to 1257.75 and bounced, but the old 1263.50 support
turned into resistance on the bounce and the market sold off
into the close.
After getting turned down from just below the major 1292-
1293 resistance zone on Wednesday, there was bell-to bell
selling on Thursday with the highs made in the first 5
minutes and the lows made just before the close. The SP500
cash closed back under the 1260 level, which was pivotal
before the rally to 1291 this week.That same area looks to
be pivotal again on Friday.
IF the market is on the way to test the yearly lows, it will
likely set up a great buying opportunity. The internal
gauges will likely show bullish divergences, and that would
support a more sustainable rally back. That kind of set-up
could be what's needed to get a good bottom in place. On the
other side of the coin, the market could take off again from
down here and rally back to test the 1291-1292 area, or
possibly get to the low 1300's. IF that occurs, then we
could get the opposite type of set-up, and a string of -20
to -30 days on the SP500 could begin. We'll see how things
shape up as we near the end-of-month bias. For the time-
being, think "trading range" and look to get long on sharp
drops that stall/reverse (not the slow grinding action like
Thursday) and short on the quick run ups as soon as they
stall/reverse.
Look for early weakness to be bought on Friday. If that
plays out, then be ready to cover and short the first decent
bounce that fizzles. It will take a break, and hold, over
the initial resistance areas just to get into neutral
territory and begin a transition back to the upside. The
bounces will set up better odds shorting opportunities
unless/until those areas broken.
The initial resistance is at the 1263.25-1263.75 area on the
SP futures and 1841.75-1842.75 area on the Nasdaq futures.
If the market pops up there early on Friday and reverses,
then it's a good shorting opportunity. If those areas are
not a problem, then the 1268.50-1269.50 area on the SP
futures and 1848.25-1849.00 area on the Nasdaq futures would
be the next hurdles. If the market rallies back to those
areas and doesn't reverse, then the 1275.25-1276.25 area on
the SP futures and 1854.75-1856.00 area on the Nasdaq
futures would be the next resistance to get through. If the
market rallies back that far, and the move doesn't reverse,
then it would open the door for a rally towards the 1283.25-
1284.25 area on the SP futures.
The initial support is at the 1251.50-1251.00 area on the SP
futures and 1812.50-1811.50 area on the Nasdaq futures. If
those areas are not defended, then a move towards the
1246.00 level on the SP futures and 1804.00 level on the
Nasdaq futures is likely. A reversal could occur from near
those levels, but if that doesn't happen, then the 1242.00-
1241.00 area on the SP futures and 1798.50-1797.50 area on
the Nasdaq futures is the next key support. If the market
can not quickly turn around from a drop to those zones, then
it opens the door for a drop towards the 1235.50-1234.50
area on the SP futures and 1791.50-1790.50 area on the
Nasdaq futures. If the market drops to those areas, and
still can not turn, then the SP futures could drop another
10 points to the 1225.50-1224.50 zone.
September 2008 SP futures resistance
symbols: emini = esu8 / big contract =spu8
1263.25-1263.75
1268.50-1269.50
1275.25-1276.25
1283.25-1284.25
September 2008 SP futures support
symbols: emini = esu8 / big contract =spu8
1251.50-1251.00
1246.00
1242.00-1241.00
1235.50-1234.50
1225.50-1224.50
September 2008 Nasdaq futures resistance
symbols: emini = nqu8 / big contract = ndu8
1841.75-1842.75
1848.25-1849.00
1854.75-1856.00
September 2008 Nasdaq futures support
symbols: emini = nqu8 / big contract = ndu8
1812.50-1811.50
1804.00
1798.50-1797.50
1791.50-1790.50
September 2008 Dow futures resistance
symbols: emini = ymu8
11419-11422
11496-11501
11551-11556
September 2008 Dow futures support
symbols: emini = ymu8
11331-11326
11282
11245-11238
11194-11188
September 2008 Russell futures resistance
symbols: emini = er2u8 / big contract = er2u8
709.00-709.30
713.40-713.90
717.60-718.00
September 2008 Russell futures support
symbols: emini = er2u8 / big contract = er2u8
702.60-702.20
698.50
695.30-694.80
691.00-690.60
---------------------------
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2008 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.
*************************************************
TradeStalker's
R.B.I. Trader's Update
7 / 24 / 2008
(Published Since 1996)
...............................................
Dateline: 7:31 pm eastern time, 7/24/2008
** Please Note: Mike sends out numerous updates throughout
the trading day to our subscribers. Go here now to
subscribe: http://www.tradestalker.com/order-page.htm
After a flat open on Thursday, the market was hit with
selling. There was a very small bounce off of the 1277.50
level on the SP futures, but after getting to 1280.25
another wave of selling started. The drop took the SP
futures to just above the 1263.00-1262.25 key support zone,
and the SP futures made a little double bottom there.
However, the SP futures couldn't get over 1268 and hold, and
the selling continued in trend-down mode. The SP futures
dropped to 1257.75 and bounced, but the old 1263.50 support
turned into resistance on the bounce and the market sold off
into the close.
After getting turned down from just below the major 1292-
1293 resistance zone on Wednesday, there was bell-to bell
selling on Thursday with the highs made in the first 5
minutes and the lows made just before the close. The SP500
cash closed back under the 1260 level, which was pivotal
before the rally to 1291 this week.That same area looks to
be pivotal again on Friday.
IF the market is on the way to test the yearly lows, it will
likely set up a great buying opportunity. The internal
gauges will likely show bullish divergences, and that would
support a more sustainable rally back. That kind of set-up
could be what's needed to get a good bottom in place. On the
other side of the coin, the market could take off again from
down here and rally back to test the 1291-1292 area, or
possibly get to the low 1300's. IF that occurs, then we
could get the opposite type of set-up, and a string of -20
to -30 days on the SP500 could begin. We'll see how things
shape up as we near the end-of-month bias. For the time-
being, think "trading range" and look to get long on sharp
drops that stall/reverse (not the slow grinding action like
Thursday) and short on the quick run ups as soon as they
stall/reverse.
Look for early weakness to be bought on Friday. If that
plays out, then be ready to cover and short the first decent
bounce that fizzles. It will take a break, and hold, over
the initial resistance areas just to get into neutral
territory and begin a transition back to the upside. The
bounces will set up better odds shorting opportunities
unless/until those areas broken.
The initial resistance is at the 1263.25-1263.75 area on the
SP futures and 1841.75-1842.75 area on the Nasdaq futures.
If the market pops up there early on Friday and reverses,
then it's a good shorting opportunity. If those areas are
not a problem, then the 1268.50-1269.50 area on the SP
futures and 1848.25-1849.00 area on the Nasdaq futures would
be the next hurdles. If the market rallies back to those
areas and doesn't reverse, then the 1275.25-1276.25 area on
the SP futures and 1854.75-1856.00 area on the Nasdaq
futures would be the next resistance to get through. If the
market rallies back that far, and the move doesn't reverse,
then it would open the door for a rally towards the 1283.25-
1284.25 area on the SP futures.
The initial support is at the 1251.50-1251.00 area on the SP
futures and 1812.50-1811.50 area on the Nasdaq futures. If
those areas are not defended, then a move towards the
1246.00 level on the SP futures and 1804.00 level on the
Nasdaq futures is likely. A reversal could occur from near
those levels, but if that doesn't happen, then the 1242.00-
1241.00 area on the SP futures and 1798.50-1797.50 area on
the Nasdaq futures is the next key support. If the market
can not quickly turn around from a drop to those zones, then
it opens the door for a drop towards the 1235.50-1234.50
area on the SP futures and 1791.50-1790.50 area on the
Nasdaq futures. If the market drops to those areas, and
still can not turn, then the SP futures could drop another
10 points to the 1225.50-1224.50 zone.
September 2008 SP futures resistance
symbols: emini = esu8 / big contract =spu8
1263.25-1263.75
1268.50-1269.50
1275.25-1276.25
1283.25-1284.25
September 2008 SP futures support
symbols: emini = esu8 / big contract =spu8
1251.50-1251.00
1246.00
1242.00-1241.00
1235.50-1234.50
1225.50-1224.50
September 2008 Nasdaq futures resistance
symbols: emini = nqu8 / big contract = ndu8
1841.75-1842.75
1848.25-1849.00
1854.75-1856.00
September 2008 Nasdaq futures support
symbols: emini = nqu8 / big contract = ndu8
1812.50-1811.50
1804.00
1798.50-1797.50
1791.50-1790.50
September 2008 Dow futures resistance
symbols: emini = ymu8
11419-11422
11496-11501
11551-11556
September 2008 Dow futures support
symbols: emini = ymu8
11331-11326
11282
11245-11238
11194-11188
September 2008 Russell futures resistance
symbols: emini = er2u8 / big contract = er2u8
709.00-709.30
713.40-713.90
717.60-718.00
September 2008 Russell futures support
symbols: emini = er2u8 / big contract = er2u8
702.60-702.20
698.50
695.30-694.80
691.00-690.60
---------------------------
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2008 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.
*************************************************
Monday, July 21, 2008
TradeStalker's RBI Update 07/20/08
.................................................
TradeStalker's
R.B.I. Trader's Update
7 / 20 / 2008
(Published Since 1996)
...............................................
Dateline: 4:33 pm eastern time, 7/20/2008
** Please Note: Mike sends out numerous updates throughout
the trading day to our subscribers. Go here now to
subscribe: http://www.tradestalker.com/order-page.htm
The market started last week will more selling, but after
reaching a new low for the year at 1200.75 on the SP futures
the market turned up and put together a rally that finally
stuck. By Thursday morning the SP futures reached 1263.00,
and then finally took a breather. On Friday we had
unexpected overnight strength, and the SP futures popped up
to our 1262.50-1263.00 resistance zone. The selling was
contained as the pullbacks held the 1252.00-1251.50 support
zone and the market closed the week on an up note.
The market kind of spun its wheels on Friday. The narrow
range at a high, along with a short term overbought status,
should lead to a pullback. On Monday look for early strength
to set up a shorting opportunity as soon as the move
stalls/reverses. If the market obliges, and a selloff stops
and turns from the initial support areas, then the pullback
would set up a buying opportunity. However, if the initial
support areas are reached and not quickly reversed, then the
short term trends could be rolling over. If that occurs,
then the downside could gather a bit of steam.
The initial resistance is at the 1262.50-1263.00 area on the
SP futures and 1832.50-1833.25 area on the Nasdaq futures.
If those are cleared and not quickly reversed, then the next
hurdles would be at the 1266.25-1267.00 area on the SP
futures and 1841.00-1842.00 area on the Nasdaq futures. If
the market gets there, and has no problem breaking trough
those areas, then a move towards the 1271.50-1272.50 area on
the SP futures and 1851.25-1852.75 area on the Nasdaq
futures could be in the cards before there is a decent
pullback.
The initial support is at the 1251.50-1250.75 area on the SP
futures and 1819.25-1818.25 area on the Nasdaq futures.
Those areas should be key support short term. If the bulls
don't defend those zones, then a move towards the 1245.75-
1245.00 area on the SP futures and 1807.75-1807.00 area on
the Nasdaq futures is likely. If the market gets there and
then turns up, a decent snap-back rally could occur.
However, if buyers don't step to the plate at those areas,
then a move to the 1239.25-1238.50 area on the SP futures
and 1798.25-1797.50 area on the Nasdaq futures would need to
hold. If they don't, then another trip down to test the lows
could be in the making.
September 2008 SP futures resistance
symbols: emini = esu8 / big contract =spu8
1262.50-1263.00
1266.25-1267.00
1271.50-1272.50
September 2008 SP futures support
symbols: emini = esu8 / big contract =spu8
1252.00-1251.50
1245.75-1245.00
1239.25-1238.50
September 2008 Nasdaq futures resistance
symbols: emini = nqu8 / big contract = ndu8
1832.50-1833.25
1841.00-1842.00
1851.25-1852.75
September 2008 Nasdaq futures support
symbols: emini = nqu8 / big contract = ndu8
1819.25-1818.25
1807.75-1807.00
1798.25-1797.50
September 2008 Dow futures resistance
symbols: emini = ymu8
11510-11514
11554-11559
11614-11618
September 2008 Dow futures support
symbols: emini = ymu8
11405-11399
11337-11332
11278-11274
September 2008 Russell futures resistance
symbols: emini = er2u8 / big contract = er2u8
693.80-694.40
697.10-697.50
701.20-701.70
September 2008 Russell futures support
symbols: emini = er2u8 / big contract = er2u8
687.80-687.20
682.80-682.50
674.50-673.80
---------------------------
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2008 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.
*************************************************
TradeStalker's
R.B.I. Trader's Update
7 / 20 / 2008
(Published Since 1996)
...............................................
Dateline: 4:33 pm eastern time, 7/20/2008
** Please Note: Mike sends out numerous updates throughout
the trading day to our subscribers. Go here now to
subscribe: http://www.tradestalker.com/order-page.htm
The market started last week will more selling, but after
reaching a new low for the year at 1200.75 on the SP futures
the market turned up and put together a rally that finally
stuck. By Thursday morning the SP futures reached 1263.00,
and then finally took a breather. On Friday we had
unexpected overnight strength, and the SP futures popped up
to our 1262.50-1263.00 resistance zone. The selling was
contained as the pullbacks held the 1252.00-1251.50 support
zone and the market closed the week on an up note.
The market kind of spun its wheels on Friday. The narrow
range at a high, along with a short term overbought status,
should lead to a pullback. On Monday look for early strength
to set up a shorting opportunity as soon as the move
stalls/reverses. If the market obliges, and a selloff stops
and turns from the initial support areas, then the pullback
would set up a buying opportunity. However, if the initial
support areas are reached and not quickly reversed, then the
short term trends could be rolling over. If that occurs,
then the downside could gather a bit of steam.
The initial resistance is at the 1262.50-1263.00 area on the
SP futures and 1832.50-1833.25 area on the Nasdaq futures.
If those are cleared and not quickly reversed, then the next
hurdles would be at the 1266.25-1267.00 area on the SP
futures and 1841.00-1842.00 area on the Nasdaq futures. If
the market gets there, and has no problem breaking trough
those areas, then a move towards the 1271.50-1272.50 area on
the SP futures and 1851.25-1852.75 area on the Nasdaq
futures could be in the cards before there is a decent
pullback.
The initial support is at the 1251.50-1250.75 area on the SP
futures and 1819.25-1818.25 area on the Nasdaq futures.
Those areas should be key support short term. If the bulls
don't defend those zones, then a move towards the 1245.75-
1245.00 area on the SP futures and 1807.75-1807.00 area on
the Nasdaq futures is likely. If the market gets there and
then turns up, a decent snap-back rally could occur.
However, if buyers don't step to the plate at those areas,
then a move to the 1239.25-1238.50 area on the SP futures
and 1798.25-1797.50 area on the Nasdaq futures would need to
hold. If they don't, then another trip down to test the lows
could be in the making.
September 2008 SP futures resistance
symbols: emini = esu8 / big contract =spu8
1262.50-1263.00
1266.25-1267.00
1271.50-1272.50
September 2008 SP futures support
symbols: emini = esu8 / big contract =spu8
1252.00-1251.50
1245.75-1245.00
1239.25-1238.50
September 2008 Nasdaq futures resistance
symbols: emini = nqu8 / big contract = ndu8
1832.50-1833.25
1841.00-1842.00
1851.25-1852.75
September 2008 Nasdaq futures support
symbols: emini = nqu8 / big contract = ndu8
1819.25-1818.25
1807.75-1807.00
1798.25-1797.50
September 2008 Dow futures resistance
symbols: emini = ymu8
11510-11514
11554-11559
11614-11618
September 2008 Dow futures support
symbols: emini = ymu8
11405-11399
11337-11332
11278-11274
September 2008 Russell futures resistance
symbols: emini = er2u8 / big contract = er2u8
693.80-694.40
697.10-697.50
701.20-701.70
September 2008 Russell futures support
symbols: emini = er2u8 / big contract = er2u8
687.80-687.20
682.80-682.50
674.50-673.80
---------------------------
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2008 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.
*************************************************
Tuesday, July 15, 2008
TradeStalker's RBI Update 07/15/08
.................................................
TradeStalker's
R.B.I. Trader's Update
7 / 15 / 2008
(Published Since 1996)
...............................................
Dateline: 6:05 pm eastern time, 7/15/2008
** Please Note: Mike sends out numerous updates throughout
the trading day to our subscribers. Go here now to
subscribe: http://www.tradestalker.com/order-page.htm
The market gapped down on Tuesday and the selling continued
until the SP futures reached 1220.75 about 40 minutes into
the trading day. Buyers stepped to the plate and the market
rallied back to the Monday lows. The SP futures just missed
filling its gap, and from 1224.50 they dropped 13 points to
1211.50 just before noon. That move was reversed, and the
market worked its way to a 1233.50 high just after 1pm. The
market backed off, but a 12.25 point pullback to the 1221.25
level on the SP futures stopped the selling and the market
bounced back. A pop to a lower high at 1228.50 was reversed,
but the pullback held the 1222.00-1221.50 updated support
and turned back up. The rally took the market to new highs
for the day, but the move fizzled and reversed after
reaching 1235.50 on the SP futures. The selling started with
about 40 minutes left in stock trading, and with the
1222.00-1221.50 zone unable to hold, the market sold off
into the close.
The bear market action continues. Except for the poor
internals, the market acted pretty well after a big gap down
open and a first hour reversal. However, the market refuses
to hold on to gains, and the last hour regurgitation by the
bulls turned all of the trends back down. So the beat goes
on.
We get the CPI before the open on Wednesday, and the FOMC
Minutes at 2pm.The market was, for the most part, trend down
on Monday and trend up on Tuesday. This should lead to more
volatility, and maybe a big move. The SP futures need to get
back over the 1221.50-1222.00 zone and not quickly reverse
to get the market back into neutral territory. The market is
a short on bounces unless that area is broken and held on
Wednesday.
The initial resistance is at the 1215.00 level on the SP
futures and 1808.00 level on the Nasdaq futures. The key
resistance is at the 1221.50-1222.00 area on the SP futures
and 1819.00-1820.00 area on the Nasdaq futures. If the
market gets back over those areas, and doesn't quickly
reverse, then the door would be open for a sprint towards
the 1235.50-1236.00 area on the SP futures and 1833.00-
1834.00 area on the Nasdaq futures.
The initial support is at the 1210.50-1209.75 area on the SP
futures and 1798.00-1797.00 area on the Nasdaq futures. If
those areas do not hold, then a drop towards the 1201.00-
1200.50 area on the SP futures and 1783.00-1782.00 area on
the Nasdaq futures could be in the cards. If the market gets
back down there and can reverse back to the upside, a decent
rally could begin. However, if those are broken and not
quickly reverse, then the 1196.50-1195.50 area on the SP
futures and 1766.00-1765.00 area on the Nasdaq futures are
likely in the cards. If the market doesn't turn around from
there, then the market could unwind pretty fast. The major
is at the 1173.00-1172.00 area on the SP futures, which
could be a magnet, and also a good spot for a rally to
begin.
September 2008 SP futures resistance
symbols: emini = esu8 / big contract =spu8
1215.00
1221.50-1222.00
1228.50 minor
1235.50-1236.00
September 2008 SP futures support
symbols: emini = esu8 / big contract =spu8
1210.50-1209.75
1201.00-1200.50
1196.50-1195.50
1173.00-1172.00 major
September 2008 Nasdaq futures resistance
symbols: emini = nqu8 / big contract = ndu8
1808.00
1819.00-1820.00
1833.00-1834.00
September 2008 Nasdaq futures support
symbols: emini = nqu8 / big contract = ndu8
1798.00-1797.00
1783.00-1782.00
1766.00-1765.00
September 2008 Dow futures resistance
symbols: emini = ymu8
10940
11000-11008
11192-11196
September 2008 Dow futures support
symbols: emini = ymu8
10906-10899
10836-10834
10789-10782
September 2008 Russell futures resistance
symbols: emini = er2u8 / big contract = er2u8
665.20
667.70-668.10
674.50-675.00
September 2008 Russell futures support
symbols: emini = er2u8 / big contract = er2u8
657.30-656.50
650.50-649.70
646.00-645.50
---------------------------
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2008 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.
*************************************************
TradeStalker's
R.B.I. Trader's Update
7 / 15 / 2008
(Published Since 1996)
...............................................
Dateline: 6:05 pm eastern time, 7/15/2008
** Please Note: Mike sends out numerous updates throughout
the trading day to our subscribers. Go here now to
subscribe: http://www.tradestalker.com/order-page.htm
The market gapped down on Tuesday and the selling continued
until the SP futures reached 1220.75 about 40 minutes into
the trading day. Buyers stepped to the plate and the market
rallied back to the Monday lows. The SP futures just missed
filling its gap, and from 1224.50 they dropped 13 points to
1211.50 just before noon. That move was reversed, and the
market worked its way to a 1233.50 high just after 1pm. The
market backed off, but a 12.25 point pullback to the 1221.25
level on the SP futures stopped the selling and the market
bounced back. A pop to a lower high at 1228.50 was reversed,
but the pullback held the 1222.00-1221.50 updated support
and turned back up. The rally took the market to new highs
for the day, but the move fizzled and reversed after
reaching 1235.50 on the SP futures. The selling started with
about 40 minutes left in stock trading, and with the
1222.00-1221.50 zone unable to hold, the market sold off
into the close.
The bear market action continues. Except for the poor
internals, the market acted pretty well after a big gap down
open and a first hour reversal. However, the market refuses
to hold on to gains, and the last hour regurgitation by the
bulls turned all of the trends back down. So the beat goes
on.
We get the CPI before the open on Wednesday, and the FOMC
Minutes at 2pm.The market was, for the most part, trend down
on Monday and trend up on Tuesday. This should lead to more
volatility, and maybe a big move. The SP futures need to get
back over the 1221.50-1222.00 zone and not quickly reverse
to get the market back into neutral territory. The market is
a short on bounces unless that area is broken and held on
Wednesday.
The initial resistance is at the 1215.00 level on the SP
futures and 1808.00 level on the Nasdaq futures. The key
resistance is at the 1221.50-1222.00 area on the SP futures
and 1819.00-1820.00 area on the Nasdaq futures. If the
market gets back over those areas, and doesn't quickly
reverse, then the door would be open for a sprint towards
the 1235.50-1236.00 area on the SP futures and 1833.00-
1834.00 area on the Nasdaq futures.
The initial support is at the 1210.50-1209.75 area on the SP
futures and 1798.00-1797.00 area on the Nasdaq futures. If
those areas do not hold, then a drop towards the 1201.00-
1200.50 area on the SP futures and 1783.00-1782.00 area on
the Nasdaq futures could be in the cards. If the market gets
back down there and can reverse back to the upside, a decent
rally could begin. However, if those are broken and not
quickly reverse, then the 1196.50-1195.50 area on the SP
futures and 1766.00-1765.00 area on the Nasdaq futures are
likely in the cards. If the market doesn't turn around from
there, then the market could unwind pretty fast. The major
is at the 1173.00-1172.00 area on the SP futures, which
could be a magnet, and also a good spot for a rally to
begin.
September 2008 SP futures resistance
symbols: emini = esu8 / big contract =spu8
1215.00
1221.50-1222.00
1228.50 minor
1235.50-1236.00
September 2008 SP futures support
symbols: emini = esu8 / big contract =spu8
1210.50-1209.75
1201.00-1200.50
1196.50-1195.50
1173.00-1172.00 major
September 2008 Nasdaq futures resistance
symbols: emini = nqu8 / big contract = ndu8
1808.00
1819.00-1820.00
1833.00-1834.00
September 2008 Nasdaq futures support
symbols: emini = nqu8 / big contract = ndu8
1798.00-1797.00
1783.00-1782.00
1766.00-1765.00
September 2008 Dow futures resistance
symbols: emini = ymu8
10940
11000-11008
11192-11196
September 2008 Dow futures support
symbols: emini = ymu8
10906-10899
10836-10834
10789-10782
September 2008 Russell futures resistance
symbols: emini = er2u8 / big contract = er2u8
665.20
667.70-668.10
674.50-675.00
September 2008 Russell futures support
symbols: emini = er2u8 / big contract = er2u8
657.30-656.50
650.50-649.70
646.00-645.50
---------------------------
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2008 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.
*************************************************
TradeStalker's RBI Update 07/14/08
.................................................
TradeStalker's
R.B.I. Trader's Update
7/14/2008
(Published Since 1996)
...............................................
Dateline: 6:28 pm eastern time, 7/14/2008
** Please Note: Mike sends out numerous updates throughout
the trading day to our subscribers. Go here now to
subscribe: http://www.tradestalker.com/order-page.htm
The market opened much higher on Monday, but the emotional
strength was sold and the market was driven lower. The SP
futures reached 1256.00 just 2 minutes after the open and
sold off 15.75 points to 1240.25 in just 33 minutes, and
then the market bounced back. The bounce stalled at 1247.25,
and a slinky pattern formed before the market dropped to new
lows. The SP futures reached the 1236.00-1235.50 support
zone and tried to bounce, but there was no oomph to the move
and the trend down action continued. The SP futures fell to
test Friday's low and bounced off of a 1225.75 low, but
there was a lid at the 1232.00 level and the market backed
down again. A slightly lower low was made at 1224.75, and
the market reversed and took out that 1232.00 level on the
way to a 1234.75 high. The move ran out of steam and the
market dropped again. The 1225.75 level held and the market
quickly reversed. The market caught a bid and shot higher in
the last hour. However, after running up to 1238.75 on the
SP futures, the market reversed again and then sold off to
close near the lows for the day.
On Tuesday we get Retail Sales before the open. In order to
put a dent in the downside momentum, the 1238.25-1238.75
area on the SP futures and the 1819.25-1820.00 area on the
Nasdaq futures will need to be broken, and not quickly
reversed. On the bottom side, the SP futures tested the
1225.75-1225.00 area 4 times now, and that must be defended
or the they could slide towards the 1218.00-1217.00 area
before a reversal attempt.
If there is early strength on Tuesday, get short when the
upside stalls out / reverses. If that plays out, beware that
if the Monday lows are broken, and then they are quickly
reversed, it could spark a quick rally. In the case of a
lower open, be on lookout for a reversal in the early going.
If there is early weakness that stalls and reverses from
that 1218.00-1217.00 area on the SP futures, it could begin
a tradable bounce. Thereafter, the short side on the bounces
should still offer the better odds trading opportunities.
The initial resistance is at the 1238.25-1238.75 area on the
SP futures and 1819.25-1820.00 area on the Nasdaq futures.
If a bounce doesn't fail at those levels, then things could
be changing short term. The 1245.75 level on the SP futures
and 1828.50 level on the Nasdaq futures should be tough to
get through, but if those levels are not a problem, then the
major resistance at the 1257.50-1258.50 and 1846.50-1848.00
would be next. Don't hold your breath.
The initial support is at the 1225.75-1225.00 area on the SP
futures and 1797.50-1796.75 area on the Nasdaq futures.
Those areas will need to hold, or be quickly reversed if
broken, otherwise the market is still in trouble. The
1218.00-1217.00 area on the SP futures and 1785.75-1784.75
area on the Nasdaq futures could be magnets if that support
doesn't hold. If those areas are broken, then we could see
the market work its way towards the 1209.00-1208.00 area on
the SP futures and 1775.25-1774.50 area on the Nasdaq
futures before any kind of turn around occurs.
September 2008 SP futures resistance
symbols: emini = esu8 / big contract =spu8
1238.25-1238.75
1245.75
1257.50-1258.50
September 2008 SP futures support
symbols: emini = esu8 / big contract =spu8
1225.75-1225.00
1218.00-1217.00
1209.00-1208.00
September 2008 Nasdaq futures resistance
symbols: emini = nqu8 / big contract = ndu8
1819.25-1820.00
1828.50
1846.50-1848.00
September 2008 Nasdaq futures support
symbols: emini = nqu8 / big contract = ndu8
1797.50-1796.75
1785.75-1784.75
1775.25-1774.50
September 2008 Dow futures resistance
symbols: emini = ymu8
11115-11119
11152
11224-11229
September 2008 Dow futures support
symbols: emini = ymu8
10988-10982
10922-10918
10826-10822
September 2008 Russell futures resistance
symbols: emini = er2u8 / big contract = er2u8
667.70-668.20
674.20
680.20-680.40
September 2008 Russell futures support
symbols: emini = er2u8 / big contract = er2u8
659.90-659.50
654.50-654.20
648.20-647.80
---------------------------
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2008 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.
*************************************************
TradeStalker's
R.B.I. Trader's Update
7/14/2008
(Published Since 1996)
...............................................
Dateline: 6:28 pm eastern time, 7/14/2008
** Please Note: Mike sends out numerous updates throughout
the trading day to our subscribers. Go here now to
subscribe: http://www.tradestalker.com/order-page.htm
The market opened much higher on Monday, but the emotional
strength was sold and the market was driven lower. The SP
futures reached 1256.00 just 2 minutes after the open and
sold off 15.75 points to 1240.25 in just 33 minutes, and
then the market bounced back. The bounce stalled at 1247.25,
and a slinky pattern formed before the market dropped to new
lows. The SP futures reached the 1236.00-1235.50 support
zone and tried to bounce, but there was no oomph to the move
and the trend down action continued. The SP futures fell to
test Friday's low and bounced off of a 1225.75 low, but
there was a lid at the 1232.00 level and the market backed
down again. A slightly lower low was made at 1224.75, and
the market reversed and took out that 1232.00 level on the
way to a 1234.75 high. The move ran out of steam and the
market dropped again. The 1225.75 level held and the market
quickly reversed. The market caught a bid and shot higher in
the last hour. However, after running up to 1238.75 on the
SP futures, the market reversed again and then sold off to
close near the lows for the day.
On Tuesday we get Retail Sales before the open. In order to
put a dent in the downside momentum, the 1238.25-1238.75
area on the SP futures and the 1819.25-1820.00 area on the
Nasdaq futures will need to be broken, and not quickly
reversed. On the bottom side, the SP futures tested the
1225.75-1225.00 area 4 times now, and that must be defended
or the they could slide towards the 1218.00-1217.00 area
before a reversal attempt.
If there is early strength on Tuesday, get short when the
upside stalls out / reverses. If that plays out, beware that
if the Monday lows are broken, and then they are quickly
reversed, it could spark a quick rally. In the case of a
lower open, be on lookout for a reversal in the early going.
If there is early weakness that stalls and reverses from
that 1218.00-1217.00 area on the SP futures, it could begin
a tradable bounce. Thereafter, the short side on the bounces
should still offer the better odds trading opportunities.
The initial resistance is at the 1238.25-1238.75 area on the
SP futures and 1819.25-1820.00 area on the Nasdaq futures.
If a bounce doesn't fail at those levels, then things could
be changing short term. The 1245.75 level on the SP futures
and 1828.50 level on the Nasdaq futures should be tough to
get through, but if those levels are not a problem, then the
major resistance at the 1257.50-1258.50 and 1846.50-1848.00
would be next. Don't hold your breath.
The initial support is at the 1225.75-1225.00 area on the SP
futures and 1797.50-1796.75 area on the Nasdaq futures.
Those areas will need to hold, or be quickly reversed if
broken, otherwise the market is still in trouble. The
1218.00-1217.00 area on the SP futures and 1785.75-1784.75
area on the Nasdaq futures could be magnets if that support
doesn't hold. If those areas are broken, then we could see
the market work its way towards the 1209.00-1208.00 area on
the SP futures and 1775.25-1774.50 area on the Nasdaq
futures before any kind of turn around occurs.
September 2008 SP futures resistance
symbols: emini = esu8 / big contract =spu8
1238.25-1238.75
1245.75
1257.50-1258.50
September 2008 SP futures support
symbols: emini = esu8 / big contract =spu8
1225.75-1225.00
1218.00-1217.00
1209.00-1208.00
September 2008 Nasdaq futures resistance
symbols: emini = nqu8 / big contract = ndu8
1819.25-1820.00
1828.50
1846.50-1848.00
September 2008 Nasdaq futures support
symbols: emini = nqu8 / big contract = ndu8
1797.50-1796.75
1785.75-1784.75
1775.25-1774.50
September 2008 Dow futures resistance
symbols: emini = ymu8
11115-11119
11152
11224-11229
September 2008 Dow futures support
symbols: emini = ymu8
10988-10982
10922-10918
10826-10822
September 2008 Russell futures resistance
symbols: emini = er2u8 / big contract = er2u8
667.70-668.20
674.20
680.20-680.40
September 2008 Russell futures support
symbols: emini = er2u8 / big contract = er2u8
659.90-659.50
654.50-654.20
648.20-647.80
---------------------------
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2008 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.
*************************************************
Thursday, July 10, 2008
TradeStalker's RBI Update 07/10/08
.................................................
TradeStalker's
R.B.I. Trader's Update
7 / 10 / 2008
(Published Since 1996)
...............................................
Dateline: 6:08 pm eastern time, 7/10/2008
** Please Note: Mike sends out numerous updates throughout
the trading day to our subscribers. Go here now to
subscribe: http://www.tradestalker.com/order-page.htm
The early game-plan for Thursday was to look for a trade on
the long side if there was early weakness that reversed, but
weren't going to fall in love with the long side. The market
opened slightly lower on Thursday and quickly reversed, as
the SP futures bounced from 1243.75 to the 1253.75 in the
first 25 minutes of trading. The initial resistance was at
1254.00, and the move stalled and reversed from just under
that level. The selling took the SP futures to a new low for
the year, reaching 1237.50 and then the move stalled and
reversed. After a little struggle at the early high, the SP
futures pulled back to the 1246.50 updated support and
quickly reversed. The SP futures ran up to the 1258.00-
1258.50 resistance zone and the move lost steam. After poke
up to 1258.75 was rejected, the market started selling off.
The channel that had formed was broken, and the downside
accelerated as the SP futures dropped to a token lower low
at 1237.00 with just over an hour left in stock trading. The
market bounced back up to the area of the breakdown, with
the SP futures reaching 1251.00 and then after pulling back
to 1243.25 the market bounced back nicely into the close.
The SP futures made a double bottom and closed on a good
note on Thursday. The SP futures have been in a wide range
between basically 1278 on top to 1237 on the bottom. They
ended the day near the middle of that range. This kind of
volatility tends to occur near market bottoms, while it's
usually the opposite (low volatility and narrow ranges) at
tops. In any case, it looks like the market is safe as long
as the 1237 level on the SP futures isn't broken.
We get the Michigan sentiment survey 30 minutes into the
trading day on Friday. If there is follow through strength,
and the move stalls and reverses in the early going, then it
should set up a trade on the short side. Thereafter, look
for the first decent selloff to set up a buying opportunity.
With the market swinging both ways, look for the quick
rallies to fizzle for shorting opportunities, and the sharp
drops that reverse to set up trades on the long side.
The initial resistance is at the 1258.50 level on the SP
futures and 1852.75 level on the Nasdaq futures. If those
are broken, then buying dips will likely be in order. The
next good resistance would be near the 1265.00-1265.50 area
on the SP futures and 1864.00-1865.00 area on the Nasdaq
futures. If those are reached, and the market doesn't
reverse, then the next big hurdles would be at the 1270.00-
1270.50 area on the SP futures and 1868.50-1869.50 area on
the Nasdaq futures. If the market gets up there, and still
doesn't reverse, then the major resistance on Friday is at
the 1278.00-1278.75 area on the SP futures and 1876.75-
1877.50 area on the Nasdaq futures.
The initial support is at the 1243.50-1243.00 area on the SP
futures and 1828.00-1827.25 area on the Nasdaq futures.
Those areas will hold if the market is in decent shape. If
they don't hold, then the major support is at the 1237.00-
1236.25 area on the SP futures and 1810.50-1809.50 area on
the Nasdaq futures. If the market gets back down there, and
does not quickly reverse and bounce with some gusto, then
the downside could gather more momentum and end the week
badly.
September 2008 SP futures resistance
symbols: emini = esu8 / big contract =spu8
1258.50
1265.00-1265.50
1270.00-1270.50
1278.00-1278.75
September 2008 SP futures support
symbols: emini = esu8 / big contract =spu8
1243.50-1243.00
1237.00-1236.25
1229.00-1228.00
September 2008 Nasdaq futures resistance
symbols: emini = nqu8 / big contract = ndu8
1852.75
1864.00-1865.00
1868.50-1869.50
1876.75-1877.50
September 2008 Nasdaq futures support
symbols: emini = nqu8 / big contract = ndu8
1828.00-1827.25
1810.50-1809.50
September 2008 Dow futures resistance
symbols: emini = ymu8
11260
11281-11283
11330-11334
September 2008 Dow futures support
symbols: emini = ymu8
11127-11123
11073-11068
September 2008 Russell futures resistance
symbols: emini = er2u8 / big contract = er2u8
676.00
680.20-680.70
684.20-684.50
September 2008 Russell futures support
symbols: emini = er2u8 / big contract = er2u8
665.90-665.30
660.90-660.50
---------------------------
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2008 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.
*************************************************
TradeStalker's
R.B.I. Trader's Update
7 / 10 / 2008
(Published Since 1996)
...............................................
Dateline: 6:08 pm eastern time, 7/10/2008
** Please Note: Mike sends out numerous updates throughout
the trading day to our subscribers. Go here now to
subscribe: http://www.tradestalker.com/order-page.htm
The early game-plan for Thursday was to look for a trade on
the long side if there was early weakness that reversed, but
weren't going to fall in love with the long side. The market
opened slightly lower on Thursday and quickly reversed, as
the SP futures bounced from 1243.75 to the 1253.75 in the
first 25 minutes of trading. The initial resistance was at
1254.00, and the move stalled and reversed from just under
that level. The selling took the SP futures to a new low for
the year, reaching 1237.50 and then the move stalled and
reversed. After a little struggle at the early high, the SP
futures pulled back to the 1246.50 updated support and
quickly reversed. The SP futures ran up to the 1258.00-
1258.50 resistance zone and the move lost steam. After poke
up to 1258.75 was rejected, the market started selling off.
The channel that had formed was broken, and the downside
accelerated as the SP futures dropped to a token lower low
at 1237.00 with just over an hour left in stock trading. The
market bounced back up to the area of the breakdown, with
the SP futures reaching 1251.00 and then after pulling back
to 1243.25 the market bounced back nicely into the close.
The SP futures made a double bottom and closed on a good
note on Thursday. The SP futures have been in a wide range
between basically 1278 on top to 1237 on the bottom. They
ended the day near the middle of that range. This kind of
volatility tends to occur near market bottoms, while it's
usually the opposite (low volatility and narrow ranges) at
tops. In any case, it looks like the market is safe as long
as the 1237 level on the SP futures isn't broken.
We get the Michigan sentiment survey 30 minutes into the
trading day on Friday. If there is follow through strength,
and the move stalls and reverses in the early going, then it
should set up a trade on the short side. Thereafter, look
for the first decent selloff to set up a buying opportunity.
With the market swinging both ways, look for the quick
rallies to fizzle for shorting opportunities, and the sharp
drops that reverse to set up trades on the long side.
The initial resistance is at the 1258.50 level on the SP
futures and 1852.75 level on the Nasdaq futures. If those
are broken, then buying dips will likely be in order. The
next good resistance would be near the 1265.00-1265.50 area
on the SP futures and 1864.00-1865.00 area on the Nasdaq
futures. If those are reached, and the market doesn't
reverse, then the next big hurdles would be at the 1270.00-
1270.50 area on the SP futures and 1868.50-1869.50 area on
the Nasdaq futures. If the market gets up there, and still
doesn't reverse, then the major resistance on Friday is at
the 1278.00-1278.75 area on the SP futures and 1876.75-
1877.50 area on the Nasdaq futures.
The initial support is at the 1243.50-1243.00 area on the SP
futures and 1828.00-1827.25 area on the Nasdaq futures.
Those areas will hold if the market is in decent shape. If
they don't hold, then the major support is at the 1237.00-
1236.25 area on the SP futures and 1810.50-1809.50 area on
the Nasdaq futures. If the market gets back down there, and
does not quickly reverse and bounce with some gusto, then
the downside could gather more momentum and end the week
badly.
September 2008 SP futures resistance
symbols: emini = esu8 / big contract =spu8
1258.50
1265.00-1265.50
1270.00-1270.50
1278.00-1278.75
September 2008 SP futures support
symbols: emini = esu8 / big contract =spu8
1243.50-1243.00
1237.00-1236.25
1229.00-1228.00
September 2008 Nasdaq futures resistance
symbols: emini = nqu8 / big contract = ndu8
1852.75
1864.00-1865.00
1868.50-1869.50
1876.75-1877.50
September 2008 Nasdaq futures support
symbols: emini = nqu8 / big contract = ndu8
1828.00-1827.25
1810.50-1809.50
September 2008 Dow futures resistance
symbols: emini = ymu8
11260
11281-11283
11330-11334
September 2008 Dow futures support
symbols: emini = ymu8
11127-11123
11073-11068
September 2008 Russell futures resistance
symbols: emini = er2u8 / big contract = er2u8
676.00
680.20-680.70
684.20-684.50
September 2008 Russell futures support
symbols: emini = er2u8 / big contract = er2u8
665.90-665.30
660.90-660.50
---------------------------
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2008 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.
*************************************************
Wednesday, July 09, 2008
TradeStalker's RBI Update 07/09/08
.................................................
TradeStalker's
R.B.I. Trader's Update
7 / 9 / 2008
(Published Since 1996)
...............................................
Dateline: 6:49 pm eastern time, 7/9/2008
** Please Note: Mike sends out numerous updates throughout
the trading day to our subscribers. Go here now to
subscribe: http://www.tradestalker.com/order-page.htm
We were looking to short early strength that stalled and
reversed on Wednesday, and just 6 minutes into trading we
got just that. The SP futures popped up to 1278.75, stalled
for about 10 seconds, then dropped 9.50 points to 1269.25.
The first pullback was reversed, but I warned that a double
top could be in the making. The market did just that, and
the SP futures pulled back 5.75 points before bouncing
again. Then the market made a triangle pattern, and after
the break down, a bounce to 1275.50 was quickly reversed and
the SP futures fell to the key support at the 1265.00-
1264.50 zone. In the 5th intraday update the 1270.50 level
was given as new resistance, and the SP futures reached
1270.25 and reversed again. That set up a quick short as the
SP futures went into a range. A clean break of the range was
needed to get anything going, after the breakdown a good
entry / re-entry occurred around 2:45 pm as the SP futures
poked to bottom of the range at 1264.25 and turned down
again. The move continued until the SP futures reached
1244.75 at the 4 pm close for stocks and then firmed a bit
into settlement.
On Thursday there could be a buying opportunity if the
market opens lower and can turn back up in the very early
going. If that plays out, don't fall in love with the long
side as the bears are back in control. The SP futures need
to break and hold the 1257.50-1258.25 zone to just get back
to neutral, and even then a rally likely won't stick unless
there is an outside influence that causes a rally. Left on
its own, the path of least resistance will be to the
downside.
The initial resistance is at the 1254.00 level on the SP
futures and the 1838.75 level on the Nasdaq futures. If
those are cleared, then the 1257.50-1258.25 area on the SP
futures and the 1844.75-1845.75 area on the Nasdaq futures
should be key. If the market gets there and doesn't reverse,
then the 1265.00-1265.50 area on the SP futures and the
1853.50-1854.25 area on the Nasdaq futures should offer
strong resistance. If they are not sold, then the 1270.00-
1270.50 area on the SP futures and the 1864.00-1865.00 area
on the Nasdaq futures would be the next big hurdles on
Thursday.
The initial support is at the 1241.00 level on the SP
futures and the 1823.75 level on the Nasdaq futures. If
broken, then key support is at the 1236.00-1235.50 area on
the SP futures and the 1814.00-1813.00 area on the Nasdaq
futures. If there isn't a reversal from there, then the
1229.00-1228.00 area on the SP futures and the 1803.00-
1802.00 on the Nasdaq futures could be seen. If those don't
hold, then the 1218.00 level could be in the cards. The next
major support is at the 1173.50-1172.50 area on the SP
futures.
September 2008 SP futures resistance
symbols: emini = esu8 / big contract =spu8
1254.00
1257.50-1258.25
1265.00-1265.50
1270.00-1270.50
September 2008 SP futures support
symbols: emini = esu8 / big contract =spu8
1241.00
1236.00-1235.50
1229.00-1228.00
1218.00
1173.50-1172.50
September 2008 Nasdaq futures resistance
symbols: emini = nqu8 / big contract = ndu8
1838.75
1844.75-1845.75
1853.50-1854.25
1864.00-1865.00
September 2008 Nasdaq futures support
symbols: emini = nqu8 / big contract = ndu8
1823.75
1814.00-1813.00
1803.00-1802.00
September 2008 Dow futures resistance
symbols: emini = ymu8
11203
11228-11233
11281-11283
11330-11334
September 2008 Dow futures support
symbols: emini = ymu8
11130
11081-11077
11012-11006
September 2008 Russell futures resistance
symbols: emini = er2u8 / big contract = er2u8
668.00
669.60-670.20
673.70-674.20
678.20-678.70
September 2008 Russell futures support
symbols: emini = er2u8 / big contract = er2u8
661.00
657.00-656.60
652.10-651.70
---------------------------
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2008 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.
*************************************************
TradeStalker's
R.B.I. Trader's Update
7 / 9 / 2008
(Published Since 1996)
...............................................
Dateline: 6:49 pm eastern time, 7/9/2008
** Please Note: Mike sends out numerous updates throughout
the trading day to our subscribers. Go here now to
subscribe: http://www.tradestalker.com/order-page.htm
We were looking to short early strength that stalled and
reversed on Wednesday, and just 6 minutes into trading we
got just that. The SP futures popped up to 1278.75, stalled
for about 10 seconds, then dropped 9.50 points to 1269.25.
The first pullback was reversed, but I warned that a double
top could be in the making. The market did just that, and
the SP futures pulled back 5.75 points before bouncing
again. Then the market made a triangle pattern, and after
the break down, a bounce to 1275.50 was quickly reversed and
the SP futures fell to the key support at the 1265.00-
1264.50 zone. In the 5th intraday update the 1270.50 level
was given as new resistance, and the SP futures reached
1270.25 and reversed again. That set up a quick short as the
SP futures went into a range. A clean break of the range was
needed to get anything going, after the breakdown a good
entry / re-entry occurred around 2:45 pm as the SP futures
poked to bottom of the range at 1264.25 and turned down
again. The move continued until the SP futures reached
1244.75 at the 4 pm close for stocks and then firmed a bit
into settlement.
On Thursday there could be a buying opportunity if the
market opens lower and can turn back up in the very early
going. If that plays out, don't fall in love with the long
side as the bears are back in control. The SP futures need
to break and hold the 1257.50-1258.25 zone to just get back
to neutral, and even then a rally likely won't stick unless
there is an outside influence that causes a rally. Left on
its own, the path of least resistance will be to the
downside.
The initial resistance is at the 1254.00 level on the SP
futures and the 1838.75 level on the Nasdaq futures. If
those are cleared, then the 1257.50-1258.25 area on the SP
futures and the 1844.75-1845.75 area on the Nasdaq futures
should be key. If the market gets there and doesn't reverse,
then the 1265.00-1265.50 area on the SP futures and the
1853.50-1854.25 area on the Nasdaq futures should offer
strong resistance. If they are not sold, then the 1270.00-
1270.50 area on the SP futures and the 1864.00-1865.00 area
on the Nasdaq futures would be the next big hurdles on
Thursday.
The initial support is at the 1241.00 level on the SP
futures and the 1823.75 level on the Nasdaq futures. If
broken, then key support is at the 1236.00-1235.50 area on
the SP futures and the 1814.00-1813.00 area on the Nasdaq
futures. If there isn't a reversal from there, then the
1229.00-1228.00 area on the SP futures and the 1803.00-
1802.00 on the Nasdaq futures could be seen. If those don't
hold, then the 1218.00 level could be in the cards. The next
major support is at the 1173.50-1172.50 area on the SP
futures.
September 2008 SP futures resistance
symbols: emini = esu8 / big contract =spu8
1254.00
1257.50-1258.25
1265.00-1265.50
1270.00-1270.50
September 2008 SP futures support
symbols: emini = esu8 / big contract =spu8
1241.00
1236.00-1235.50
1229.00-1228.00
1218.00
1173.50-1172.50
September 2008 Nasdaq futures resistance
symbols: emini = nqu8 / big contract = ndu8
1838.75
1844.75-1845.75
1853.50-1854.25
1864.00-1865.00
September 2008 Nasdaq futures support
symbols: emini = nqu8 / big contract = ndu8
1823.75
1814.00-1813.00
1803.00-1802.00
September 2008 Dow futures resistance
symbols: emini = ymu8
11203
11228-11233
11281-11283
11330-11334
September 2008 Dow futures support
symbols: emini = ymu8
11130
11081-11077
11012-11006
September 2008 Russell futures resistance
symbols: emini = er2u8 / big contract = er2u8
668.00
669.60-670.20
673.70-674.20
678.20-678.70
September 2008 Russell futures support
symbols: emini = er2u8 / big contract = er2u8
661.00
657.00-656.60
652.10-651.70
---------------------------
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2008 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.
*************************************************
Monday, July 07, 2008
TradeStalker's RBI Update 07/07/08
.................................................
TradeStalker's
R.B.I. Trader's Update
7 / 07 / 2008
(Published Since 1996)
...............................................
Dateline: 6:05 pm eastern time, 7/07/2008
Trading updates are posted through out the day to "real
time" subscribers on our Instant Messenger Site. Go here to
sign up now! http://www.tradestalker.com/order-page.htm
The market opened higher on Monday and the SP futures
rallied through the 1273 resistance, but the move stalled
out after reaching 1275.00 and the market pulled back. A
bounce to a lower high at 1273.50 was reversed, and the
market headed back to test the early lows. Once the 1268.00
level was broken, the bears defended that level on a bounce,
and then the downside gathered some steam. The selling was
steady as the SP futures reached 1242.00 just after 1pm. A
bounce failed and the market averages all dropped to make
slightly lower lows. The SP futures reached 1240.75 and
quickly reversed, and then the market bounced back. The
1248.50-1249.00 area on the SP futures was tested, and then
the SP futures fell back to 1242.00 before turning back up.
That 1248.50-1249.00 area on the SP futures was then broken,
and a rally started with an hour left in stock trading. The
SP futures rallied to 1265.00 while the Nasdaq futures
almost reached the morning high, but the bulls couldn't hold
the gains and the market sold off into the close.
The SP500 cash and futures made outside days, with higher
highs and lower lows than last Thursday. The two-sided
action will likely continue on Tuesday. In the early going,
look for an early drop that reverses to set up a trade on
the long side. If there is early strength instead, then it
should set up a shorting opportunity as soon as the upside
momentum stalls. Thereafter, look for reactions around
support and resistance zones until the market gets out of
the Monday ranges.
The initial resistance is at the 1264.25-1265.00 area on the
SP futures and 1849.00-1850.00 area the Nasdaq futures. If
the market gets back to those areas, and does not quickly
reverse, then the 1274.50-1275.00 area on the SP futures and
1858.75-1860.50 area the Nasdaq futures. If the market gets
back up to those areas, they should be tough to get through.
However, if those areas are cleared, and the rally doesn't
stall and then reverse, then it would open the door for a
strong rally and the big hurdles would be at the 1285.75-
1286.25 area on the SP futures and 1880.50-1882.00 area the
Nasdaq futures.
The initial support is at the 1251.50-1251.25 area on the SP
futures and 1831.00-1830.00 area the Nasdaq futures. If
those areas are broken, then there should be pretty strong
support at the 1248.50-1248.00 area on the SP futures and
1819.25-1818.50 area the Nasdaq futures. If those are tested
and the market turns back up, then it could begin a decent
rally. If those areas are not held, then a test of the
1242.00-1241.00 area on the SP futures and 1804.00-1803.00
area the Nasdaq futures would need to hold. That's where the
buying started on Monday, and both the bulls and bears would
like to see those areas again to get long and/or cover
shorts. If the market drops back down there and can not turn
around, then the 1237.00-1236.00 area on the SP futures will
probably be seen before the market turns around.
September 2008 SP futures resistance
symbols: emini = esu8 / big contract =spu8
1264.25-1265.00
1274.50-1275.00
1285.75-1286.25
1292.50-1293.25
September 2008 SP futures support
symbols: emini = esu8 / big contract =spu8
1252.00-1251.25
1248.50-1248.00
1242.00-1241.00
1237.00-1236.00
September 2008 Nasdaq futures resistance
symbols: emini = nqu8 / big contract = ndu8
1849.00-1850.00
1858.75-1860.50
1880.50-1882.00
September 2008 Nasdaq futures support
symbols: emini = nqu8 / big contract = ndu8
1831.00-1830.00
1819.25-1818.50
1804.00-1803.00
September 2008 Dow futures resistance
symbols: emini = ymu8
11307-11311
11377-11385
11473-11478
September 2008 Dow futures support
symbols: emini = ymu8
11205-11200
11179-11172
11109-11104
September 2008 Russell futures resistance
symbols: emini = er2u8 / big contract = er2u8
664.50-665.00
671.00-671.50
682.30-682.70
September 2008 Russell futures support
symbols: emini = er2u8 / big contract = er2u8
656.20-656.00
654.80-654.20
650.70-650.20
---------------------------
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2008 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.
*************************************************
TradeStalker's
R.B.I. Trader's Update
7 / 07 / 2008
(Published Since 1996)
...............................................
Dateline: 6:05 pm eastern time, 7/07/2008
Trading updates are posted through out the day to "real
time" subscribers on our Instant Messenger Site. Go here to
sign up now! http://www.tradestalker.com/order-page.htm
The market opened higher on Monday and the SP futures
rallied through the 1273 resistance, but the move stalled
out after reaching 1275.00 and the market pulled back. A
bounce to a lower high at 1273.50 was reversed, and the
market headed back to test the early lows. Once the 1268.00
level was broken, the bears defended that level on a bounce,
and then the downside gathered some steam. The selling was
steady as the SP futures reached 1242.00 just after 1pm. A
bounce failed and the market averages all dropped to make
slightly lower lows. The SP futures reached 1240.75 and
quickly reversed, and then the market bounced back. The
1248.50-1249.00 area on the SP futures was tested, and then
the SP futures fell back to 1242.00 before turning back up.
That 1248.50-1249.00 area on the SP futures was then broken,
and a rally started with an hour left in stock trading. The
SP futures rallied to 1265.00 while the Nasdaq futures
almost reached the morning high, but the bulls couldn't hold
the gains and the market sold off into the close.
The SP500 cash and futures made outside days, with higher
highs and lower lows than last Thursday. The two-sided
action will likely continue on Tuesday. In the early going,
look for an early drop that reverses to set up a trade on
the long side. If there is early strength instead, then it
should set up a shorting opportunity as soon as the upside
momentum stalls. Thereafter, look for reactions around
support and resistance zones until the market gets out of
the Monday ranges.
The initial resistance is at the 1264.25-1265.00 area on the
SP futures and 1849.00-1850.00 area the Nasdaq futures. If
the market gets back to those areas, and does not quickly
reverse, then the 1274.50-1275.00 area on the SP futures and
1858.75-1860.50 area the Nasdaq futures. If the market gets
back up to those areas, they should be tough to get through.
However, if those areas are cleared, and the rally doesn't
stall and then reverse, then it would open the door for a
strong rally and the big hurdles would be at the 1285.75-
1286.25 area on the SP futures and 1880.50-1882.00 area the
Nasdaq futures.
The initial support is at the 1251.50-1251.25 area on the SP
futures and 1831.00-1830.00 area the Nasdaq futures. If
those areas are broken, then there should be pretty strong
support at the 1248.50-1248.00 area on the SP futures and
1819.25-1818.50 area the Nasdaq futures. If those are tested
and the market turns back up, then it could begin a decent
rally. If those areas are not held, then a test of the
1242.00-1241.00 area on the SP futures and 1804.00-1803.00
area the Nasdaq futures would need to hold. That's where the
buying started on Monday, and both the bulls and bears would
like to see those areas again to get long and/or cover
shorts. If the market drops back down there and can not turn
around, then the 1237.00-1236.00 area on the SP futures will
probably be seen before the market turns around.
September 2008 SP futures resistance
symbols: emini = esu8 / big contract =spu8
1264.25-1265.00
1274.50-1275.00
1285.75-1286.25
1292.50-1293.25
September 2008 SP futures support
symbols: emini = esu8 / big contract =spu8
1252.00-1251.25
1248.50-1248.00
1242.00-1241.00
1237.00-1236.00
September 2008 Nasdaq futures resistance
symbols: emini = nqu8 / big contract = ndu8
1849.00-1850.00
1858.75-1860.50
1880.50-1882.00
September 2008 Nasdaq futures support
symbols: emini = nqu8 / big contract = ndu8
1831.00-1830.00
1819.25-1818.50
1804.00-1803.00
September 2008 Dow futures resistance
symbols: emini = ymu8
11307-11311
11377-11385
11473-11478
September 2008 Dow futures support
symbols: emini = ymu8
11205-11200
11179-11172
11109-11104
September 2008 Russell futures resistance
symbols: emini = er2u8 / big contract = er2u8
664.50-665.00
671.00-671.50
682.30-682.70
September 2008 Russell futures support
symbols: emini = er2u8 / big contract = er2u8
656.20-656.00
654.80-654.20
650.70-650.20
---------------------------
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2008 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.
*************************************************
TradeStalker's RBI Update 06/30/08
.................................................
TradeStalker's
R.B.I. Trader's Update
6 / 30 / 2008
(Published Since 1996)
...............................................
Dateline: 6:26 pm eastern time, 6/30/2008
Trading updates are posted through out the day to "real
time" subscribers on our Instant Messenger Site. Go here to
sign up now! http://www.tradestalker.com/order-page.htm
Early strength was sold on Monday, as the SP futures ran up
to 1285.75, just over the 1285.00 resistance, and quickly
reversed. The SP futures dropped 10 points to 1275.50 and
turned up, and that brought in buying. The move stalled out
after the SP futures poked to 1291.00, but the bulls held
their ground at the 1286.75 level. However, after a run to
1292.00 was quickly reversed, selling took over and the
market sold fairly hard. While the Nasdaq futures made a new
low for the day, the SP futures fell through the 1282.00
support to 1281.25, and then the market reversed course. The
market bounced back in choppy fashion, making a rising wedge
type of pattern, as the SP futures reached 1288.50. That
wedge was broken with 15 minutes left in stock trading and
the SP futures fell to 1279.00 and then firmed a bit into
the close.
The volatility is beginning to pick up pace. The rallies
didn't stick again on Monday, however the market is
beginning to act like it's trying to find a bottom. What
would be the ideal setup to get long would be on another
sharp drop in the early going that then can turn up and
rally with some gusto. There hasn't been panic selling yet,
and a bit of a "let me out" type of action followed by a
sharp reversal would set up a "classic" bottoming pattern.
The daily indicators are at big extremes again. If there is
an
early drop on Tuesday, and the market goes down to test the
1272.50-1271.50 area on the SP futures and reverses, then
that could begin a good rally. Aside from that, if there is
early strength on Tuesday, and the move stalls/ reverses
near the initial resistance areas, then a decent shorting
opportunity should set up. However, if the initial
resistance areas are broken, and the market doesn't quickly
reverse, then the upside should be in gear. The big
resistance, if the Monday high is exceeded and not quickly
rejected, would be at the 1298.00-1298.50 area on the SP
futures. A move back to that area should be telling. A
reversal would keep the market in bear mode. A break,
especially on a close, could mean a good low is in place for
a while.
The initial resistance is at the 1288.50-1289.00 area on the
SP futures and 1860.00-1861.00 area on the Nasdaq futures.
That's where the last hour selling started from on Monday,
so they should be key areas. If they are cleared, then a
test of the 1291.50-1292.00 area on the SP futures and
1870.25-1871.00 on the Nasdaq futures should be tested. If
the market doesn't fail again at those areas, then the
1293.25 level on the SP futures and 1876.00 level on the
Nasdaq futures is all that should be in the way of a rally
to the 1298.00-1298.50 area on the SP futures and/or
1888.50-1888.75 area on the Nasdaq futures.
The initial support is at the 1279.25 level on the SP
futures and 1842.25 level on the Nasdaq futures. If those
are broken, and the doesn't quickly reverse, then the
1275.50-1275.00 area on the SP futures and 1837.00-1836.00
area on the Nasdaq futures would be important support. If
there is no hint of a turn around from those areas then the
1272.50-1271.50 area on the SP futures and 1831.00-1829.00
area on the Nasdaq futures are likely going to be magnets.
If the market gets down there, and the move stalls, or
reverses, it should set up a buying opportunity with a
pretty tight stop. However, if the market gets down there
and doesn't turn back up, then a move to the 1268.00-1267.50
area on the SP futures and 1825.00-1824.50 area on the
Nasdaq futures could be in the cards. If the market gets
down there, it will mean the market is weak and would need
to get back over the 1272.50 level on the SP futures to
reverse the trends. If that doesn't happen, then a drop to
test the major support at the 1258.75-1257.00 area on the SP
futures along with the 1812.50-1810.25 area on the Nasdaq
futures could occur.
September 2008 SP futures resistance
symbols: emini = esu8 / big contract =spu8
1288.50-1289.00
1291.50-1292.00
1293.25
1298.00-1298.50
September 2008 SP futures support
symbols: emini = esu8 / big contract =spu8
1279.25
1275.50-1275.00
1272.00-1271.50
1268.00-1267.50
1258.75-1257.00 major
September 2008 Nasdaq futures resistance
symbols: emini = nqu8 / big contract = ndu8
1860.00-1861.00
1870.25-1871.00
1876.00
1888.50-1888.75
September 2008 Nasdaq futures support
symbols: emini = nqu8 / big contract = ndu8
1837.00-1836.00
1831.00-1829.00
1825.00-1824.50
1812.50-1810.25
September 2008 Dow futures resistance
symbols: emini = ymu8
11395-11399
11423-11426
11437
11583-11587
September 2008 Dow futures support
symbols: emini = ymu8
11319
11276-11274
11244-11238
11199-11194
11142-11137
September 2008 Russell futures resistance
symbols: emini = er2u8 / big contract = er2u8
695.70-696.40
699.00-699.20
701.60
706.10-706.50
September 2008 Russell futures support
symbols: emini = er2u8 / big contract = er2u8
688.50
685.40-685.00
682.50-682.00
679.20-678.70
672.00-671.00
---------------------------
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2008 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.
*************************************************
TradeStalker's
R.B.I. Trader's Update
6 / 30 / 2008
(Published Since 1996)
...............................................
Dateline: 6:26 pm eastern time, 6/30/2008
Trading updates are posted through out the day to "real
time" subscribers on our Instant Messenger Site. Go here to
sign up now! http://www.tradestalker.com/order-page.htm
Early strength was sold on Monday, as the SP futures ran up
to 1285.75, just over the 1285.00 resistance, and quickly
reversed. The SP futures dropped 10 points to 1275.50 and
turned up, and that brought in buying. The move stalled out
after the SP futures poked to 1291.00, but the bulls held
their ground at the 1286.75 level. However, after a run to
1292.00 was quickly reversed, selling took over and the
market sold fairly hard. While the Nasdaq futures made a new
low for the day, the SP futures fell through the 1282.00
support to 1281.25, and then the market reversed course. The
market bounced back in choppy fashion, making a rising wedge
type of pattern, as the SP futures reached 1288.50. That
wedge was broken with 15 minutes left in stock trading and
the SP futures fell to 1279.00 and then firmed a bit into
the close.
The volatility is beginning to pick up pace. The rallies
didn't stick again on Monday, however the market is
beginning to act like it's trying to find a bottom. What
would be the ideal setup to get long would be on another
sharp drop in the early going that then can turn up and
rally with some gusto. There hasn't been panic selling yet,
and a bit of a "let me out" type of action followed by a
sharp reversal would set up a "classic" bottoming pattern.
The daily indicators are at big extremes again. If there is
an
early drop on Tuesday, and the market goes down to test the
1272.50-1271.50 area on the SP futures and reverses, then
that could begin a good rally. Aside from that, if there is
early strength on Tuesday, and the move stalls/ reverses
near the initial resistance areas, then a decent shorting
opportunity should set up. However, if the initial
resistance areas are broken, and the market doesn't quickly
reverse, then the upside should be in gear. The big
resistance, if the Monday high is exceeded and not quickly
rejected, would be at the 1298.00-1298.50 area on the SP
futures. A move back to that area should be telling. A
reversal would keep the market in bear mode. A break,
especially on a close, could mean a good low is in place for
a while.
The initial resistance is at the 1288.50-1289.00 area on the
SP futures and 1860.00-1861.00 area on the Nasdaq futures.
That's where the last hour selling started from on Monday,
so they should be key areas. If they are cleared, then a
test of the 1291.50-1292.00 area on the SP futures and
1870.25-1871.00 on the Nasdaq futures should be tested. If
the market doesn't fail again at those areas, then the
1293.25 level on the SP futures and 1876.00 level on the
Nasdaq futures is all that should be in the way of a rally
to the 1298.00-1298.50 area on the SP futures and/or
1888.50-1888.75 area on the Nasdaq futures.
The initial support is at the 1279.25 level on the SP
futures and 1842.25 level on the Nasdaq futures. If those
are broken, and the doesn't quickly reverse, then the
1275.50-1275.00 area on the SP futures and 1837.00-1836.00
area on the Nasdaq futures would be important support. If
there is no hint of a turn around from those areas then the
1272.50-1271.50 area on the SP futures and 1831.00-1829.00
area on the Nasdaq futures are likely going to be magnets.
If the market gets down there, and the move stalls, or
reverses, it should set up a buying opportunity with a
pretty tight stop. However, if the market gets down there
and doesn't turn back up, then a move to the 1268.00-1267.50
area on the SP futures and 1825.00-1824.50 area on the
Nasdaq futures could be in the cards. If the market gets
down there, it will mean the market is weak and would need
to get back over the 1272.50 level on the SP futures to
reverse the trends. If that doesn't happen, then a drop to
test the major support at the 1258.75-1257.00 area on the SP
futures along with the 1812.50-1810.25 area on the Nasdaq
futures could occur.
September 2008 SP futures resistance
symbols: emini = esu8 / big contract =spu8
1288.50-1289.00
1291.50-1292.00
1293.25
1298.00-1298.50
September 2008 SP futures support
symbols: emini = esu8 / big contract =spu8
1279.25
1275.50-1275.00
1272.00-1271.50
1268.00-1267.50
1258.75-1257.00 major
September 2008 Nasdaq futures resistance
symbols: emini = nqu8 / big contract = ndu8
1860.00-1861.00
1870.25-1871.00
1876.00
1888.50-1888.75
September 2008 Nasdaq futures support
symbols: emini = nqu8 / big contract = ndu8
1837.00-1836.00
1831.00-1829.00
1825.00-1824.50
1812.50-1810.25
September 2008 Dow futures resistance
symbols: emini = ymu8
11395-11399
11423-11426
11437
11583-11587
September 2008 Dow futures support
symbols: emini = ymu8
11319
11276-11274
11244-11238
11199-11194
11142-11137
September 2008 Russell futures resistance
symbols: emini = er2u8 / big contract = er2u8
695.70-696.40
699.00-699.20
701.60
706.10-706.50
September 2008 Russell futures support
symbols: emini = er2u8 / big contract = er2u8
688.50
685.40-685.00
682.50-682.00
679.20-678.70
672.00-671.00
---------------------------
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2008 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.
*************************************************
Friday, June 27, 2008
TradeStalker's RBI Update 06/26/08
.................................................
TradeStalker's
R.B.I. Trader's Update
6 / 26 / 2008
(Published Since 1996)
...............................................
Dateline: 6:00 pm eastern time, 6/26/2008
Trading updates are posted through out the day to "real
time" subscribers on our Instant Messenger Site. Go here to
sign up now! http://www.tradestalker.com/order-page.htm
The market gapped down on the open on Thursday, and after a
little pop over 1310 on the SP futures failed, more selling
came in and drove prices lower. The 1298.50-1297.50 zone
provided a bounce, but that failed right at the 1301.75
updated resistance and the market rolled over again. The
1292 target was met shortly after noon, and then the SP
futures bounced to 1298.25. The updated resistance was at
1298.50, and the market reversed and fell to new lows for
the day. The SP futures reached 1287.25 and then bounced
back feebly back to 1393.25. Unable to push through the 1294
resistance, the market rolled over again and sold another 10
points on the SP futures by the close.
Thursday was a trend day, and back to back trend days are
rare. So, expect two-sided action on Friday. The initial
resistance areas will need to be exceeded, and not quickly
reversed, to erase some of the downside momentum. If there
is going to be a decent trade on the long side, it could set
up if the market opens lower and then reverses back to the
upside. If that occurs, then the market could rally back
towards the initial resistance zones. If that plays out, the
way the market handles that initial resistance should say a
lot about what to expect ahead. Whatever the case, even
though the market is oversold, it needs to prove itself
strong before favoring the long side. Shorting the bounces
as soon as the momentum fizzles is still the better odds
trading setup until the trends turn.
The initial resistance is at the 1292.75-1293.25 area on the
SP futures and 1878.75-1880.00 area on the Nasdaq futures.
If the market gets up there, and doesn't have trouble, then
a rally could be in gear. The next hurdles are at the
1298.00-1298.50 area on the SP futures and 1888.50-1888.75
area on the Nasdaq futures. Those should be key if they are
reached. A failure at those areas would mean lower prices
are coming again. However, if those are exceeded, then the
1301.75-1302.25 area on the SP futures and 1892.50-1892.25
area on the Nasdaq futures would be next. If the market gets
up there, and the rally doesn't fail, then we could see some
piling on and the upside could go parabolic.
The initial support is at the 1283.00-1282.50 area on the SP
futures and 1863.00-1862.00 area on the Nasdaq futures. If
the market opens higher on Friday, those areas should be
watched for potential double bottoms. Below those areas,
there should be some support near the 1278.00-1277.50 area
on the SP futures and 1854.50-1853.50 area on the Nasdaq
futures. If the market gets there, especially early in the
morning, then beware of a reversal attempt. However, if
those don't hold then the door is open for a move towards
the 1272.50-1272.00 area on the SP futures and 1847.75-
1847.00 area on the Nasdaq futures. If those do not hold,
then the major support is at the 1258.75-1257.00 area on the
SP futures. If the market gets there, and doesn't quickly
reverse, then a for the first time we could see some panic
selling come in and the market could go into a crashette
type mode.
September 2008 SP futures resistance
symbols: emini = esu8 / big contract =spu8
1292.75-1293.25
1298.00-1298.50
1301.75-1302.25
September 2008 SP futures support
symbols: emini = esu8 / big contract =spu8
1283.00-1282.50
1278.00-1277.50
1272.50-1272.00
1258.75-1257.00 major
September 2008 Nasdaq futures resistance
symbols: emini = nqu8 / big contract = ndu8
1878.75-1880.00
1888.50-1888.75
1892.50-1892.25
September 2008 Nasdaq futures support
symbols: emini = nqu8 / big contract = ndu8
1863.00-1862.00
1854.50-1853.50
1847.75-1847.00
September 2008 Dow futures resistance
symbols: emini = ymu8
11526-11529
11583-11587
11604-11608
September 2008 Dow futures support
symbols: emini = ymu8
11445-11442
11398-11394
11346-11343
September 2008 Russell futures resistance
symbols: emini = er2u8 / big contract = er2u8
700.80-701.20
705.40-705.80
708.10-708.50
September 2008 Russell futures support
symbols: emini = er2u8 / big contract = er2u8
695.90-695.60
692.10-691.80
687.80-687.40
---------------------------
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2008 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.
*************************************************
TradeStalker's
R.B.I. Trader's Update
6 / 26 / 2008
(Published Since 1996)
...............................................
Dateline: 6:00 pm eastern time, 6/26/2008
Trading updates are posted through out the day to "real
time" subscribers on our Instant Messenger Site. Go here to
sign up now! http://www.tradestalker.com/order-page.htm
The market gapped down on the open on Thursday, and after a
little pop over 1310 on the SP futures failed, more selling
came in and drove prices lower. The 1298.50-1297.50 zone
provided a bounce, but that failed right at the 1301.75
updated resistance and the market rolled over again. The
1292 target was met shortly after noon, and then the SP
futures bounced to 1298.25. The updated resistance was at
1298.50, and the market reversed and fell to new lows for
the day. The SP futures reached 1287.25 and then bounced
back feebly back to 1393.25. Unable to push through the 1294
resistance, the market rolled over again and sold another 10
points on the SP futures by the close.
Thursday was a trend day, and back to back trend days are
rare. So, expect two-sided action on Friday. The initial
resistance areas will need to be exceeded, and not quickly
reversed, to erase some of the downside momentum. If there
is going to be a decent trade on the long side, it could set
up if the market opens lower and then reverses back to the
upside. If that occurs, then the market could rally back
towards the initial resistance zones. If that plays out, the
way the market handles that initial resistance should say a
lot about what to expect ahead. Whatever the case, even
though the market is oversold, it needs to prove itself
strong before favoring the long side. Shorting the bounces
as soon as the momentum fizzles is still the better odds
trading setup until the trends turn.
The initial resistance is at the 1292.75-1293.25 area on the
SP futures and 1878.75-1880.00 area on the Nasdaq futures.
If the market gets up there, and doesn't have trouble, then
a rally could be in gear. The next hurdles are at the
1298.00-1298.50 area on the SP futures and 1888.50-1888.75
area on the Nasdaq futures. Those should be key if they are
reached. A failure at those areas would mean lower prices
are coming again. However, if those are exceeded, then the
1301.75-1302.25 area on the SP futures and 1892.50-1892.25
area on the Nasdaq futures would be next. If the market gets
up there, and the rally doesn't fail, then we could see some
piling on and the upside could go parabolic.
The initial support is at the 1283.00-1282.50 area on the SP
futures and 1863.00-1862.00 area on the Nasdaq futures. If
the market opens higher on Friday, those areas should be
watched for potential double bottoms. Below those areas,
there should be some support near the 1278.00-1277.50 area
on the SP futures and 1854.50-1853.50 area on the Nasdaq
futures. If the market gets there, especially early in the
morning, then beware of a reversal attempt. However, if
those don't hold then the door is open for a move towards
the 1272.50-1272.00 area on the SP futures and 1847.75-
1847.00 area on the Nasdaq futures. If those do not hold,
then the major support is at the 1258.75-1257.00 area on the
SP futures. If the market gets there, and doesn't quickly
reverse, then a for the first time we could see some panic
selling come in and the market could go into a crashette
type mode.
September 2008 SP futures resistance
symbols: emini = esu8 / big contract =spu8
1292.75-1293.25
1298.00-1298.50
1301.75-1302.25
September 2008 SP futures support
symbols: emini = esu8 / big contract =spu8
1283.00-1282.50
1278.00-1277.50
1272.50-1272.00
1258.75-1257.00 major
September 2008 Nasdaq futures resistance
symbols: emini = nqu8 / big contract = ndu8
1878.75-1880.00
1888.50-1888.75
1892.50-1892.25
September 2008 Nasdaq futures support
symbols: emini = nqu8 / big contract = ndu8
1863.00-1862.00
1854.50-1853.50
1847.75-1847.00
September 2008 Dow futures resistance
symbols: emini = ymu8
11526-11529
11583-11587
11604-11608
September 2008 Dow futures support
symbols: emini = ymu8
11445-11442
11398-11394
11346-11343
September 2008 Russell futures resistance
symbols: emini = er2u8 / big contract = er2u8
700.80-701.20
705.40-705.80
708.10-708.50
September 2008 Russell futures support
symbols: emini = er2u8 / big contract = er2u8
695.90-695.60
692.10-691.80
687.80-687.40
---------------------------
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2008 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.
*************************************************
Thursday, June 26, 2008
TradeStalker's RBI Update 06/25/08
.................................................
TradeStalker's
R.B.I. Trader's Update
6 / 25 / 2008
(Published Since 1996)
...............................................
Dateline: 6:40 pm eastern time, 6/25/2008
Trading updates are posted through out the day to "real
time" subscribers on our Instant Messenger Site. Go here to
sign up now! http://www.tradestalker.com/order-page.htm
The market opened higher on Wednesday and rallied into the
lunchtime trading. The SP futures had some trouble after
reaching 1330, and a small pullback occurred before the Fed
release. After the release, there was a pop and drop over
the first 20 minutes, and then the market rallied back.
After testing the 1334.00 high, the market went right back
down to the pullback lows. The SP futures held the 1324.50
level and then turned back up and didn't really pause until
making new highs for the day. The SP futures reached 1337.75
and quickly reversed, and that started another drop. The
move broke the bottoms at 1324.50 on the way down, and only
the closing bell could stop the selling as the averages
closed well below the afternoon highs.
Despite the late day drubbing, the averages all closed
higher on Wednesday. The oversold condition has been
relieved, so the market doesn't have that for a prop at the
moment. About the only thing that is bullish is the end of
month upside bias for the market. The reversal from a strong
resistance zone was rejected, and a lot of longs are likely
still stuck in losing positions. The rallies that stall out,
or reverse, should offer the better opportunities on
Thursday as the trends and momentum are pointing down.
On Thursday there could be a quick trade on the long side if
follow through selling reverses in the early going. If that
plays out, don't fall in love with any long trade as the
first decent bounce will likely be sold. The SP futures need
to get over the 1324.50-1325.00 area and the Nasdaq futures
need to break the 1947.75-1949.00 area, and not quickly
reverse, to get the market in to neutral territory. On the
other side of the coin, if there is a selloff that sends the
market down really hard to the 1298.50-1297.50 area on the
SP futures, and the market reverses back to the upside, then
that could set up a good rally. Aside from that, short the
bounces that go for about 30-40 minutes and then stall out,
especially if they coincide with a fixed or dynamic
resistance zone, until things change.
The initial resistance is at the 1324.50-1325.00 area on the
SP futures and 1947.75-1949.00 area on the Nasdaq futures.
If those are reached and not reversed, then the door is open
for a rally towards the 1329.75-1330.25 area on the SP
futures and 1954.00-1954.75 area on the Nasdaq futures. If
those are reached, and the market doesn't have trouble
pushing through, then a test of the 1337.50-1338.00 area on
the SP futures and 1960.00-1960.75 area on the Nasdaq
futures would be a surprise, and likely make for a great
shorting opportunity if the move stalls and reverses like it
did on Wednesday.
The initial support is at the 1321.00-1320.25 area on the SP
futures and 1928.00-1927.25 area on the Nasdaq futures.
Those will likely be broken on the open, and id so then they
could turn in to resistance. The first good support is at
the 1316.00-1315.50 area on the SP futures and 1919.50-
1918.25 area on the Nasdaq futures. If there is going to be
an early reversal, it could come from those areas. However,
if those are broken and the market doesn't quickly reverse,
then the market could spill towards the 1310.75-1310.00 area
on the SP futures and 1908.75-1907.75 area on the Nasdaq
futures. If those are broken, then the 1305.50-1303.00 area
on the SP futures and 1895.00-1892.50 area on the Nasdaq
futures would be major support. If those are broken, be on
alert for a reversal from the 1298.50-1297.50 area on the SP
futures. If that doesn't happen, then the 1292.50-1291.75
area on the SP futures is as far as a drop should go unless
the market is in a crashette type environment.
September 2008 SP futures resistance
symbols: emini = esu8 / big contract =spu8
1324.50-1325.00
1329.75-1330.25
1337.50-1338.00
September 2008 SP futures support
symbols: emini = esu8 / big contract =spu8
1321.00-1320.25
1316.00-1315.50 important early
1310.75-1310.00
1305.50-1303.00 big
1298.50-1297.50
1292.50-1291.75 major
September 2008 Nasdaq futures resistance
symbols: emini = nqu8 / big contract = ndu8
1947.75-1949.00
1954.00-1954.75
1960.75
September 2008 Nasdaq futures support
symbols: emini = nqu8 / big contract = ndu8
1928.00-1927.25
1919.50-1918.25
1908.75-1907.75
1895.00-1892.50
September 2008 Dow futures resistance
symbols: emini = ymu8
11822-12827
11850-11854
11919-11923
September 2008 Dow futures support
symbols: emini = ymu8
11786-11782
11758-11752
11720-11708
11654-11648
September 2008 Russell futures resistance
symbols: emini = er2u8 / big contract = er2u8
716.70-717.00
718.20-718.60
722.80-723.20
September 2008 Russell futures support
symbols: emini = er2u8 / big contract = er2u8
710.40-709.80
706.00-705.50
703.00-702.50
698.70-697.90
---------------------------
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2008 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.
*************************************************
TradeStalker's
R.B.I. Trader's Update
6 / 25 / 2008
(Published Since 1996)
...............................................
Dateline: 6:40 pm eastern time, 6/25/2008
Trading updates are posted through out the day to "real
time" subscribers on our Instant Messenger Site. Go here to
sign up now! http://www.tradestalker.com/order-page.htm
The market opened higher on Wednesday and rallied into the
lunchtime trading. The SP futures had some trouble after
reaching 1330, and a small pullback occurred before the Fed
release. After the release, there was a pop and drop over
the first 20 minutes, and then the market rallied back.
After testing the 1334.00 high, the market went right back
down to the pullback lows. The SP futures held the 1324.50
level and then turned back up and didn't really pause until
making new highs for the day. The SP futures reached 1337.75
and quickly reversed, and that started another drop. The
move broke the bottoms at 1324.50 on the way down, and only
the closing bell could stop the selling as the averages
closed well below the afternoon highs.
Despite the late day drubbing, the averages all closed
higher on Wednesday. The oversold condition has been
relieved, so the market doesn't have that for a prop at the
moment. About the only thing that is bullish is the end of
month upside bias for the market. The reversal from a strong
resistance zone was rejected, and a lot of longs are likely
still stuck in losing positions. The rallies that stall out,
or reverse, should offer the better opportunities on
Thursday as the trends and momentum are pointing down.
On Thursday there could be a quick trade on the long side if
follow through selling reverses in the early going. If that
plays out, don't fall in love with any long trade as the
first decent bounce will likely be sold. The SP futures need
to get over the 1324.50-1325.00 area and the Nasdaq futures
need to break the 1947.75-1949.00 area, and not quickly
reverse, to get the market in to neutral territory. On the
other side of the coin, if there is a selloff that sends the
market down really hard to the 1298.50-1297.50 area on the
SP futures, and the market reverses back to the upside, then
that could set up a good rally. Aside from that, short the
bounces that go for about 30-40 minutes and then stall out,
especially if they coincide with a fixed or dynamic
resistance zone, until things change.
The initial resistance is at the 1324.50-1325.00 area on the
SP futures and 1947.75-1949.00 area on the Nasdaq futures.
If those are reached and not reversed, then the door is open
for a rally towards the 1329.75-1330.25 area on the SP
futures and 1954.00-1954.75 area on the Nasdaq futures. If
those are reached, and the market doesn't have trouble
pushing through, then a test of the 1337.50-1338.00 area on
the SP futures and 1960.00-1960.75 area on the Nasdaq
futures would be a surprise, and likely make for a great
shorting opportunity if the move stalls and reverses like it
did on Wednesday.
The initial support is at the 1321.00-1320.25 area on the SP
futures and 1928.00-1927.25 area on the Nasdaq futures.
Those will likely be broken on the open, and id so then they
could turn in to resistance. The first good support is at
the 1316.00-1315.50 area on the SP futures and 1919.50-
1918.25 area on the Nasdaq futures. If there is going to be
an early reversal, it could come from those areas. However,
if those are broken and the market doesn't quickly reverse,
then the market could spill towards the 1310.75-1310.00 area
on the SP futures and 1908.75-1907.75 area on the Nasdaq
futures. If those are broken, then the 1305.50-1303.00 area
on the SP futures and 1895.00-1892.50 area on the Nasdaq
futures would be major support. If those are broken, be on
alert for a reversal from the 1298.50-1297.50 area on the SP
futures. If that doesn't happen, then the 1292.50-1291.75
area on the SP futures is as far as a drop should go unless
the market is in a crashette type environment.
September 2008 SP futures resistance
symbols: emini = esu8 / big contract =spu8
1324.50-1325.00
1329.75-1330.25
1337.50-1338.00
September 2008 SP futures support
symbols: emini = esu8 / big contract =spu8
1321.00-1320.25
1316.00-1315.50 important early
1310.75-1310.00
1305.50-1303.00 big
1298.50-1297.50
1292.50-1291.75 major
September 2008 Nasdaq futures resistance
symbols: emini = nqu8 / big contract = ndu8
1947.75-1949.00
1954.00-1954.75
1960.75
September 2008 Nasdaq futures support
symbols: emini = nqu8 / big contract = ndu8
1928.00-1927.25
1919.50-1918.25
1908.75-1907.75
1895.00-1892.50
September 2008 Dow futures resistance
symbols: emini = ymu8
11822-12827
11850-11854
11919-11923
September 2008 Dow futures support
symbols: emini = ymu8
11786-11782
11758-11752
11720-11708
11654-11648
September 2008 Russell futures resistance
symbols: emini = er2u8 / big contract = er2u8
716.70-717.00
718.20-718.60
722.80-723.20
September 2008 Russell futures support
symbols: emini = er2u8 / big contract = er2u8
710.40-709.80
706.00-705.50
703.00-702.50
698.70-697.90
---------------------------
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2008 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.
*************************************************
Wednesday, June 25, 2008
TradeStalker's RBI Update 06/22/08
.................................................
TradeStalker's
R.B.I. Trader's Update
6 / 22 / 2008
(Published Since 1996)
...............................................
Dateline: 5:36 pm eastern time, 6/22/2008
Trading updates are posted throughout the day to "real
time" subscribers on our Instant Messenger Site. Go here to
sign up now! http://www.tradestalker.com/order-page.htm
The market gapped down on Friday and dropped steadily for
the first 40 minutes of trading. A bounce back fizzled and
after the 1328.50 level was broken, the selling was
persistent into the last hour of trading. The SP futures
reached 1315.25 while the Nasdaq futures fell to 1927.50 and
then a feeble bounce lifted the market a bit before the
close.
The SP500 cash has made 5 waves down on the daily "line-on-
close" chart. If the market doesn't get turned around very
soon, then a drop to the 1302 level on the SP futures is
possible. The first leg off the top was 70 points on the SP
futures. If this leg down is equal to the first leg, that
would target 1302 for a low.
In any case, the market should be close to a trading low.
The last week of the month, and quarter, has an upside bias.
In addition to that, the internal gauges I keep are getting
very oversold. My 4 day thrust is at -.53, the 4 day volume
ratio is a miniscule .33, and short term breadth oscillators
are also at extremes. These can lag for a day sometimes, but
it is a heads-up that a reversal to the upside should be
coming soon. If that happens and we get an up-down-up
pattern to the 1372-1374 area on the SP futures over the
next week, it could set the stage for a very sharp drop.
We'll see about that if we get there.
On Monday look for early weakness to reverse to set up a
trade on the long side. If that plays out, the first decent
bounce will likely set up a shorting opportunity as long as
the initial resistance zones are not cleared. It takes a
break of the initial resistance zones, that can then hold on
a pullback, to turn the short term trends back up.
The initial resistance is at the 1323.00-1323.50 area on the
SP futures and the 1949.50-1950.25 area on the Nasdaq
futures. If the market doesn't fail there, then the upside
could get in gear. The next hurdles would be at the 1329.50-
1330.25 area on the SP futures and the 1958.25-1959.50 area
on the Nasdaq futures. If those are not a problem, then a
move towards the 1336.50-1337.00 area on the SP futures and
the 1974.00-1975.50 area on the Nasdaq futures would be key
resistance. If a rally gets that far and there is no
stopping it, then the 1344.50 level on the SP futures and
the 1994.50 level on the Nasdaq futures would be next. If
the market goes into a melt-up move, then the next good
resistance is near the 1349.75 level on the SP futures and
the 2001.75 level on the Nasdaq futures.
The initial support is at the 1316.00-1315.50 area on the SP
futures and the 1932.50-1931.75 area on the Nasdaq futures.
If those are not quickly reversed, then the door is open for
one more sharp sell-off before a bottom forms. A move to the
1309.50-1308.50 area on the SP futures and the 1920.50-
1919.25 area on the Nasdaq futures that reverses should set
up a trade on the long side. However, if the market gets
down there and keeps going, then a reversal must occur from
the 1303.00-1302.00 area on the SP futures and the 1901.00-
1899.75 area on the Nasdaq futures, otherwise we could have
a mini-crash under way.
September 2008 SP futures resistance
symbols: emini = esu8 / big contract =spu8
1323.00-1323.50
1329.50-1330.25
1336.50-1337.00
1344.50
1349.75
September 2008 SP futures support
symbols: emini = esu8 / big contract =spu8
1316.00-1315.50
1309.50-1308.50
1303.00-1302.00
September 2008 Nasdaq futures resistance
symbols: emini = nqu8 / big contract = ndu8
1949.50-1950.25
1958.25-1959.50
1974.00-1975.50
1994.50
2001.75
September 2008 Nasdaq futures support
symbols: emini = nqu8 / big contract = ndu8
1932.50-1931.75
1920.50-1919.25
1901.00-1899.75
September 2008 Dow futures resistance
symbols: emini = ymu8
11875-11882
11952-11957
11999-12004
12068
12115
September 2008 Dow futures support
symbols: emini = ymu8
11820-11816
11758-11752
11711-11708
September 2008 Russell futures resistance
symbols: emini = er2u8 / big contract = er2u8
728.00-728.40
732.20-732.80
738.10-738.40
743.40
748.00
September 2008 Russell futures support
symbols: emini = er2u8 / big contract = er2u8
718.90-718.40
714.20-713.90
709.70-709.40
---------------------------
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2008 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.
*************************************************
TradeStalker's
R.B.I. Trader's Update
6 / 22 / 2008
(Published Since 1996)
...............................................
Dateline: 5:36 pm eastern time, 6/22/2008
Trading updates are posted throughout the day to "real
time" subscribers on our Instant Messenger Site. Go here to
sign up now! http://www.tradestalker.com/order-page.htm
The market gapped down on Friday and dropped steadily for
the first 40 minutes of trading. A bounce back fizzled and
after the 1328.50 level was broken, the selling was
persistent into the last hour of trading. The SP futures
reached 1315.25 while the Nasdaq futures fell to 1927.50 and
then a feeble bounce lifted the market a bit before the
close.
The SP500 cash has made 5 waves down on the daily "line-on-
close" chart. If the market doesn't get turned around very
soon, then a drop to the 1302 level on the SP futures is
possible. The first leg off the top was 70 points on the SP
futures. If this leg down is equal to the first leg, that
would target 1302 for a low.
In any case, the market should be close to a trading low.
The last week of the month, and quarter, has an upside bias.
In addition to that, the internal gauges I keep are getting
very oversold. My 4 day thrust is at -.53, the 4 day volume
ratio is a miniscule .33, and short term breadth oscillators
are also at extremes. These can lag for a day sometimes, but
it is a heads-up that a reversal to the upside should be
coming soon. If that happens and we get an up-down-up
pattern to the 1372-1374 area on the SP futures over the
next week, it could set the stage for a very sharp drop.
We'll see about that if we get there.
On Monday look for early weakness to reverse to set up a
trade on the long side. If that plays out, the first decent
bounce will likely set up a shorting opportunity as long as
the initial resistance zones are not cleared. It takes a
break of the initial resistance zones, that can then hold on
a pullback, to turn the short term trends back up.
The initial resistance is at the 1323.00-1323.50 area on the
SP futures and the 1949.50-1950.25 area on the Nasdaq
futures. If the market doesn't fail there, then the upside
could get in gear. The next hurdles would be at the 1329.50-
1330.25 area on the SP futures and the 1958.25-1959.50 area
on the Nasdaq futures. If those are not a problem, then a
move towards the 1336.50-1337.00 area on the SP futures and
the 1974.00-1975.50 area on the Nasdaq futures would be key
resistance. If a rally gets that far and there is no
stopping it, then the 1344.50 level on the SP futures and
the 1994.50 level on the Nasdaq futures would be next. If
the market goes into a melt-up move, then the next good
resistance is near the 1349.75 level on the SP futures and
the 2001.75 level on the Nasdaq futures.
The initial support is at the 1316.00-1315.50 area on the SP
futures and the 1932.50-1931.75 area on the Nasdaq futures.
If those are not quickly reversed, then the door is open for
one more sharp sell-off before a bottom forms. A move to the
1309.50-1308.50 area on the SP futures and the 1920.50-
1919.25 area on the Nasdaq futures that reverses should set
up a trade on the long side. However, if the market gets
down there and keeps going, then a reversal must occur from
the 1303.00-1302.00 area on the SP futures and the 1901.00-
1899.75 area on the Nasdaq futures, otherwise we could have
a mini-crash under way.
September 2008 SP futures resistance
symbols: emini = esu8 / big contract =spu8
1323.00-1323.50
1329.50-1330.25
1336.50-1337.00
1344.50
1349.75
September 2008 SP futures support
symbols: emini = esu8 / big contract =spu8
1316.00-1315.50
1309.50-1308.50
1303.00-1302.00
September 2008 Nasdaq futures resistance
symbols: emini = nqu8 / big contract = ndu8
1949.50-1950.25
1958.25-1959.50
1974.00-1975.50
1994.50
2001.75
September 2008 Nasdaq futures support
symbols: emini = nqu8 / big contract = ndu8
1932.50-1931.75
1920.50-1919.25
1901.00-1899.75
September 2008 Dow futures resistance
symbols: emini = ymu8
11875-11882
11952-11957
11999-12004
12068
12115
September 2008 Dow futures support
symbols: emini = ymu8
11820-11816
11758-11752
11711-11708
September 2008 Russell futures resistance
symbols: emini = er2u8 / big contract = er2u8
728.00-728.40
732.20-732.80
738.10-738.40
743.40
748.00
September 2008 Russell futures support
symbols: emini = er2u8 / big contract = er2u8
718.90-718.40
714.20-713.90
709.70-709.40
---------------------------
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2008 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.
*************************************************
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