HOW OUR DAY WENT:
We came in to the day looking to get
short if we had early strength, and especially if the 1207.50-
1208.50 zone on ES and 2037.75-2038.25 on NQ were reached. The
ES bounced to 1207.50 and the NQ reached 2037.75 -- direct hits
on key resistance -- and the market reversed 30 minutes in to
trading. The intraday updates and instant messages gave more
guidance as we tackled a volatile day very well.
CLICK HERE FOR FREE TRADING VIDEOS!
Good Trading,
Mike Reed
TradeStalker.com
This publication's primary focus is trading the index
futures ($ES_F). However, you can also use my nightly updates to
trade the following ETF's (SPY), (QQQQ), (SDS), (QID),
(DIA), and (DOG)
Showing posts with label day trading eminis. Show all posts
Showing posts with label day trading eminis. Show all posts
Thursday, April 22, 2010
Wednesday, April 21, 2010
TradeStalker's RBI Update 04/20/10
.................................................
TradeStalker's
R.B.I. Trader's Update
4 / 20 / 2010
(Published Since 1996)
...............................................
Dateline: 6:25 pm eastern time, 4/20/2010
The gap up open was sold on Tuesday, then the first pullback
held just over the Monday high of 1196.50. After tagging
1197.00 3 times, the market turned back up about an hour
into the trading day. The rally stopped after a poke over
1204.50 resistance was rejected, but the 1202 level was
quickly reversed and a move up made a double top at
resistance. That gave a small pullback to 1202.00 support,
and the futures closed at their highs while stocks dropped
into the close.
There was a gap left on the daily chart at 1196.50 on
Tuesday. After the close, the futures are higher on Apple's
earnings and another gap up will occur if the market opens
higher on Wednesday. Odds of the gap filling on the daily
chart are very good on Wednesday, so if there is early
strength it should offer a nice shorting opportunity as soon
as the upside stalls out (especially if that's from the
1207.50-1208.50 area). That should happen within the first
40 minutes at the latest.
Then, as long as a pullback holds the 1202.00-1201.50 area,
the upside should remain intact. If shorting early strength
plays out, and a pullback turns up from near the 1202.00-
1201.50 area (or higher) around 90 minutes into the day,
then it could be a low and start a good rally. However, if
that 1202.00-1201.50 area is broken, then the market
character is changing and it should have a hard time
recovering so the bounces would turn into shorting
opportunities.
June 2010 SP futures resistance
symbols: emini = esm0 / big contract =spm0
1207.50-1208.50 **key early
1210.50-1212.00
1217.50-1218.00
June 2010 SP futures support
symbols: emini = esm0 / big contract =spm0
1202.00-1201.50 **must hold
1197.00-1196.50
1194.00-1193.50
June 2010 Nasdaq futures resistance
symbols: emini = nqm0 / big contract = ndm0
2037.75-2038.25 **key early
2040.50-2041.50
2048.75-2049.50
June 2010 Nasdaq futures support
symbols: emini = nqm0 / big contract = ndm0
2019.50-2018.75 **must hold
2008.00-2007.00
2000.25-1999.50
June 2010 Dow futures resistance
symbols: emini = ymm0
11090-11094 **key early
11128-11134
11162-11168
June 2010 Dow futures support
symbols: emini = ymm0
11058-11055 **must hold
11027-11023
11000-10996
CLICK HERE FOR FREE TRADING VIDEOS!
Good Trading,
Mike Reed
TradeStalker.com
Copyright (c) 2010 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
This publication's primary focus is trading the index
futures ($ES_F). 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
4 / 20 / 2010
(Published Since 1996)
...............................................
Dateline: 6:25 pm eastern time, 4/20/2010
The gap up open was sold on Tuesday, then the first pullback
held just over the Monday high of 1196.50. After tagging
1197.00 3 times, the market turned back up about an hour
into the trading day. The rally stopped after a poke over
1204.50 resistance was rejected, but the 1202 level was
quickly reversed and a move up made a double top at
resistance. That gave a small pullback to 1202.00 support,
and the futures closed at their highs while stocks dropped
into the close.
There was a gap left on the daily chart at 1196.50 on
Tuesday. After the close, the futures are higher on Apple's
earnings and another gap up will occur if the market opens
higher on Wednesday. Odds of the gap filling on the daily
chart are very good on Wednesday, so if there is early
strength it should offer a nice shorting opportunity as soon
as the upside stalls out (especially if that's from the
1207.50-1208.50 area). That should happen within the first
40 minutes at the latest.
Then, as long as a pullback holds the 1202.00-1201.50 area,
the upside should remain intact. If shorting early strength
plays out, and a pullback turns up from near the 1202.00-
1201.50 area (or higher) around 90 minutes into the day,
then it could be a low and start a good rally. However, if
that 1202.00-1201.50 area is broken, then the market
character is changing and it should have a hard time
recovering so the bounces would turn into shorting
opportunities.
June 2010 SP futures resistance
symbols: emini = esm0 / big contract =spm0
1207.50-1208.50 **key early
1210.50-1212.00
1217.50-1218.00
June 2010 SP futures support
symbols: emini = esm0 / big contract =spm0
1202.00-1201.50 **must hold
1197.00-1196.50
1194.00-1193.50
June 2010 Nasdaq futures resistance
symbols: emini = nqm0 / big contract = ndm0
2037.75-2038.25 **key early
2040.50-2041.50
2048.75-2049.50
June 2010 Nasdaq futures support
symbols: emini = nqm0 / big contract = ndm0
2019.50-2018.75 **must hold
2008.00-2007.00
2000.25-1999.50
June 2010 Dow futures resistance
symbols: emini = ymm0
11090-11094 **key early
11128-11134
11162-11168
June 2010 Dow futures support
symbols: emini = ymm0
11058-11055 **must hold
11027-11023
11000-10996
CLICK HERE FOR FREE TRADING VIDEOS!
Good Trading,
Mike Reed
TradeStalker.com
Copyright (c) 2010 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
This publication's primary focus is trading the index
futures ($ES_F). 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 RBI Update 04/19/10
.................................................
TradeStalker's
R.B.I. Trader's Update
4 / 19 / 2010
(Published Since 1996)
...............................................
Dateline: 6:24 pm eastern time, 4/19/2010
A lower open was bought on Monday, and a bounce back to the
1193.00-1193.50 resistance zone on the ES and 2016.00-
2016.50 resistance zone on the NQ occurred. The move stalled
out, and when the 1189.50-1189.00 zone on the ES was broken
the downside gathered momentum as they fell to 1179.75 by
noon. A bounce to the updated resistance at 1185.00-1185.50
stalled, then a dip to 1181.00 was quickly reversed. With a
"rising W" pattern on the charts, the upside got in gear.
After breaking through the 1185.00-1185.50 zone, the ES
dipped to 1185.75 and then headed back up and rallied into
the close.
The panic selloff from Friday carried over on Monday, but
due to the technical condition noted last night, the market
was able to rally back starting in the afternoon and closed
the day at its highs. Once again, however, the market closed
higher while there was more declining stocks than advancing
stocks. That has been going on for some time, and is not
good for the intermediate term.
On Tuesday, look for early strength to set up a shorting
opportunity if the ES reverses from near the 1199.50-1200.50
zone in the first 30 minutes or so. If that plays out, then
beware that as long as a pullback holds above the 1190.50-
1190.00 area on the ES, the market will not be in trouble
yet and should be able to bounce back. It will take a break
back under that zone to turn the trends back down for now.
If it's tested and quickly reversed, then no damage is done.
If the 1190.25 level is not quickly reversed, then it could
result in another rush to get out.
June 2010 SP futures resistance
symbols: emini = esm0 / big contract =spm0
1196.50
1199.50-1200.50 **key, good short
1203.50-1204.50
1209.75-1210.50
June 2010 SP futures support
symbols: emini = esm0 / big contract =spm0
1190.50-1190.00
1188.00-1187.50
1185.00-1184.50
1181.00
1178.50-1177.50
1171.50-1171.00
June 2010 Nasdaq futures resistance
symbols: emini = nqm0 / big contract = ndm0
2016.50
2021.50-2022.50 **key, good short
2028.25-2029.00
2037.00-2037.75
June 2010 Nasdaq futures support
symbols: emini = nqm0 / big contract = ndm0
2004.75-2004.00
1996.50-1996.00
1992.75-1992.00
1986.25
1983.50-1982.50
June 2010 Dow futures resistance
symbols: emini = ymm0
11047
11058-11062 **key, good short
11097-11101
11132-11134
June 2010 Dow futures support
symbols: emini = ymm0
11017-11013
10998-10994
10974-10971
10943
10923-10919
---------------------------
REMINDER:
Real Time subscribers can view these updates, and also get
real time instant messages, on the web at this site:
http://www.tradestalker.com/RBIchat.htm
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2010 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
4 / 19 / 2010
(Published Since 1996)
...............................................
Dateline: 6:24 pm eastern time, 4/19/2010
A lower open was bought on Monday, and a bounce back to the
1193.00-1193.50 resistance zone on the ES and 2016.00-
2016.50 resistance zone on the NQ occurred. The move stalled
out, and when the 1189.50-1189.00 zone on the ES was broken
the downside gathered momentum as they fell to 1179.75 by
noon. A bounce to the updated resistance at 1185.00-1185.50
stalled, then a dip to 1181.00 was quickly reversed. With a
"rising W" pattern on the charts, the upside got in gear.
After breaking through the 1185.00-1185.50 zone, the ES
dipped to 1185.75 and then headed back up and rallied into
the close.
The panic selloff from Friday carried over on Monday, but
due to the technical condition noted last night, the market
was able to rally back starting in the afternoon and closed
the day at its highs. Once again, however, the market closed
higher while there was more declining stocks than advancing
stocks. That has been going on for some time, and is not
good for the intermediate term.
On Tuesday, look for early strength to set up a shorting
opportunity if the ES reverses from near the 1199.50-1200.50
zone in the first 30 minutes or so. If that plays out, then
beware that as long as a pullback holds above the 1190.50-
1190.00 area on the ES, the market will not be in trouble
yet and should be able to bounce back. It will take a break
back under that zone to turn the trends back down for now.
If it's tested and quickly reversed, then no damage is done.
If the 1190.25 level is not quickly reversed, then it could
result in another rush to get out.
June 2010 SP futures resistance
symbols: emini = esm0 / big contract =spm0
1196.50
1199.50-1200.50 **key, good short
1203.50-1204.50
1209.75-1210.50
June 2010 SP futures support
symbols: emini = esm0 / big contract =spm0
1190.50-1190.00
1188.00-1187.50
1185.00-1184.50
1181.00
1178.50-1177.50
1171.50-1171.00
June 2010 Nasdaq futures resistance
symbols: emini = nqm0 / big contract = ndm0
2016.50
2021.50-2022.50 **key, good short
2028.25-2029.00
2037.00-2037.75
June 2010 Nasdaq futures support
symbols: emini = nqm0 / big contract = ndm0
2004.75-2004.00
1996.50-1996.00
1992.75-1992.00
1986.25
1983.50-1982.50
June 2010 Dow futures resistance
symbols: emini = ymm0
11047
11058-11062 **key, good short
11097-11101
11132-11134
June 2010 Dow futures support
symbols: emini = ymm0
11017-11013
10998-10994
10974-10971
10943
10923-10919
---------------------------
REMINDER:
Real Time subscribers can view these updates, and also get
real time instant messages, on the web at this site:
http://www.tradestalker.com/RBIchat.htm
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2010 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 04/18/10
.................................................
TradeStalker's
R.B.I. Trader's Update
4 / 18 / 2010
(Published Since 1996)
...............................................
Dateline: 5:27 pm eastern time, 4/18/2010
We came in to Friday expecting a decent sized drop,
potentially to the 1192.50-1191.50 zone. The ES had a gap
down open, and that was bought and the ES bounced to 1206.00
and stalled/ reversed. That was at the updated resistance
and then the ES dropped to 1200.00 and bounced back. A
double top at 1206 resistance gave us the drop to the
1192.50-1191.50 zone before any kind of bounce occurred. We
stayed with the short side, and the ES dropped to 1184.50
before reversing with a bit of gusto. After getting to
1193.50, the ES pulled back and then reversed from just
under the 1188.50 support, but made a double top at 1193.50
before the close.
The volatility surely picked up on Friday. The breakdown
appears to be the start of something more on the downside.
The only fly in the ointment is that, just 1 day off of a
new high for the year, there were signs of panic selling
that normally shows up near lows. The Vix closed up 15% on
Friday, after having been about 23% higher intraday. Also,
the closing Trin was at 3.15.
This should set up some two-sided action on Monday. The
intraday chart pattern looks vulnerable, and the daily and
weekly charts don't look good either. If the market can
bounce back a bit and test the highs, then a lot of bearish
divergences will be even more pronounced than they were
coming in to Friday. At this juncture, the odds of that
happening do not look good.
On Monday we get the Leading Indicators at 10am. If the
market pops up and tests the initial resistance (or pokes
over and reverses) it should set up a good shorting
opportunity for a drop of about 10 ES points off of whatever
the early high is. On the down side, the initial support
looks like it must hold or the Friday lows will be tested/
broken before an attempt to turn back up.
June 2010 SP futures resistance
symbols: emini = esm0 / big contract =spm0
1193.00-1193.50
1199.50-1200.50
1199.50-1200.50
1209.75-1210.50
June 2010 SP futures support
symbols: emini = esm0 / big contract =spm0
1188.50-1188.00
1182.75-1182.00
1178.00-1177.50
1171.50-1171.00
June 2010 Nasdaq futures resistance
symbols: emini = nqm0 / big contract = ndm0
2016.00-2016.50
2024.50-2025.50
2032.25-2033.00
2037.00-2037.75
June 2010 Nasdaq futures support
symbols: emini = nqm0 / big contract = ndm0
2007.50-2007.00
1998.50-1997.75
1993.50-1992.50
June 2010 Dow futures resistance
symbols: emini = ymm0
11004-11008
11048-11052
11097-11101
11132-11134
June 2010 Dow futures support
symbols: emini = ymm0
10963-10959
10918-10914
10886-10882
---------------------------
REMINDER:
Real Time subscribers can view these updates, and also get
real time instant messages, on the web at this site:
http://www.tradestalker.com/RBIchat.htm
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2010 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
4 / 18 / 2010
(Published Since 1996)
...............................................
Dateline: 5:27 pm eastern time, 4/18/2010
We came in to Friday expecting a decent sized drop,
potentially to the 1192.50-1191.50 zone. The ES had a gap
down open, and that was bought and the ES bounced to 1206.00
and stalled/ reversed. That was at the updated resistance
and then the ES dropped to 1200.00 and bounced back. A
double top at 1206 resistance gave us the drop to the
1192.50-1191.50 zone before any kind of bounce occurred. We
stayed with the short side, and the ES dropped to 1184.50
before reversing with a bit of gusto. After getting to
1193.50, the ES pulled back and then reversed from just
under the 1188.50 support, but made a double top at 1193.50
before the close.
The volatility surely picked up on Friday. The breakdown
appears to be the start of something more on the downside.
The only fly in the ointment is that, just 1 day off of a
new high for the year, there were signs of panic selling
that normally shows up near lows. The Vix closed up 15% on
Friday, after having been about 23% higher intraday. Also,
the closing Trin was at 3.15.
This should set up some two-sided action on Monday. The
intraday chart pattern looks vulnerable, and the daily and
weekly charts don't look good either. If the market can
bounce back a bit and test the highs, then a lot of bearish
divergences will be even more pronounced than they were
coming in to Friday. At this juncture, the odds of that
happening do not look good.
On Monday we get the Leading Indicators at 10am. If the
market pops up and tests the initial resistance (or pokes
over and reverses) it should set up a good shorting
opportunity for a drop of about 10 ES points off of whatever
the early high is. On the down side, the initial support
looks like it must hold or the Friday lows will be tested/
broken before an attempt to turn back up.
June 2010 SP futures resistance
symbols: emini = esm0 / big contract =spm0
1193.00-1193.50
1199.50-1200.50
1199.50-1200.50
1209.75-1210.50
June 2010 SP futures support
symbols: emini = esm0 / big contract =spm0
1188.50-1188.00
1182.75-1182.00
1178.00-1177.50
1171.50-1171.00
June 2010 Nasdaq futures resistance
symbols: emini = nqm0 / big contract = ndm0
2016.00-2016.50
2024.50-2025.50
2032.25-2033.00
2037.00-2037.75
June 2010 Nasdaq futures support
symbols: emini = nqm0 / big contract = ndm0
2007.50-2007.00
1998.50-1997.75
1993.50-1992.50
June 2010 Dow futures resistance
symbols: emini = ymm0
11004-11008
11048-11052
11097-11101
11132-11134
June 2010 Dow futures support
symbols: emini = ymm0
10963-10959
10918-10914
10886-10882
---------------------------
REMINDER:
Real Time subscribers can view these updates, and also get
real time instant messages, on the web at this site:
http://www.tradestalker.com/RBIchat.htm
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2010 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, April 12, 2010
Today's Trading Recap: 04/09/10
HOW OUR DAY WENT:
The ES rallied to 1188.25 in the first
35 minutes (in the 1188.00-1189.00 resistance zone), then
dropped to 1183.00 (just over the 1182.50-1182.00 initial
support) about an hour into the day and it turned back up.
That move failed at 1188.75 and after a little double top
reversed the ES dropped and made a better double bottom at
1185.00. In the last 30 minutes the ES broke and held 1188.00,
and that caused a run of 5 more points up into the close.
CLICK HERE FOR FREE TRADING VIDEOS!
Good Trading,
Mike Reed
TradeStalker.com
The ES rallied to 1188.25 in the first
35 minutes (in the 1188.00-1189.00 resistance zone), then
dropped to 1183.00 (just over the 1182.50-1182.00 initial
support) about an hour into the day and it turned back up.
That move failed at 1188.75 and after a little double top
reversed the ES dropped and made a better double bottom at
1185.00. In the last 30 minutes the ES broke and held 1188.00,
and that caused a run of 5 more points up into the close.
CLICK HERE FOR FREE TRADING VIDEOS!
Good Trading,
Mike Reed
TradeStalker.com
TradeStalker's RBI Update 04/08/10
.................................................
TradeStalker's
R.B.I. Trader's Update
4 / 8 / 2010
(Published Since 1996)
...............................................
Dateline: 6:46 pm eastern time, 4/8/2010
The flu bug made another visit, so I don't have much to
write. The market put together a trend up day on Thursday.
If this rally reverses from under 1185 on the ES, and then
closes / breaks under the 1182.50-1182.00 area, it would
need to turn right back up to avoid another downdraft.
If the ES closes the day under the 1178.75-1178.00 zone, it
will be bearish. If that area holds on a drop, then a
trading range is the worst that happens. If the move from
Thursday continues, and the ES runs through 1185 on the way
up to test or break the recent 1188 high area, it will be a
good area for a reversal. If that does not occur, then a
move towards the 1194-1195 area could be in the cards. If
the bids do not dry up and the move stalls/ reverses, a
melt-up as far as the 1202-1204 area is a long shot
possibility.
June 2010 SP futures resistance
symbols: emini = esm0 / big contract =spm0
1184.50-1185.00 **key
1186.25
1188.00-1189.00
1194.50-1195.00
June 2010 SP futures support
symbols: emini = esm0 / big contract =spm0
1182.50-1182.00 **key
1178.75-1178.00
1175.00-1174.50
1171.00-1170.25
June 2010 Nasdaq futures resistance
symbols: emini = nqm0 / big contract = ndm0
1981.50-1982.50 **key
1984.50
1985.75-1987.50
1994.00-1995.00
June 2010 Nasdaq futures support
symbols: emini = nqm0 / big contract = ndm0
1977.50-1977.00 **key
1970.25-1969.50
1966.75-1966.00
1959.50-1958.50
June 2010 Dow futures resistance
symbols: emini = ymm0
10898-10901 **key
10912
10927-10930
10968-10973
June 2010 Dow futures support
symbols: emini = ymm0
10874-10870 **key
10858-10854
11815-11811
10791-10788
---------------------------
REMINDER:
Real Time subscribers can view these updates, and also get
real time instant messages, on the web at this site:
http://www.tradestalker.com/RBIchat.htm
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2010 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
4 / 8 / 2010
(Published Since 1996)
...............................................
Dateline: 6:46 pm eastern time, 4/8/2010
The flu bug made another visit, so I don't have much to
write. The market put together a trend up day on Thursday.
If this rally reverses from under 1185 on the ES, and then
closes / breaks under the 1182.50-1182.00 area, it would
need to turn right back up to avoid another downdraft.
If the ES closes the day under the 1178.75-1178.00 zone, it
will be bearish. If that area holds on a drop, then a
trading range is the worst that happens. If the move from
Thursday continues, and the ES runs through 1185 on the way
up to test or break the recent 1188 high area, it will be a
good area for a reversal. If that does not occur, then a
move towards the 1194-1195 area could be in the cards. If
the bids do not dry up and the move stalls/ reverses, a
melt-up as far as the 1202-1204 area is a long shot
possibility.
June 2010 SP futures resistance
symbols: emini = esm0 / big contract =spm0
1184.50-1185.00 **key
1186.25
1188.00-1189.00
1194.50-1195.00
June 2010 SP futures support
symbols: emini = esm0 / big contract =spm0
1182.50-1182.00 **key
1178.75-1178.00
1175.00-1174.50
1171.00-1170.25
June 2010 Nasdaq futures resistance
symbols: emini = nqm0 / big contract = ndm0
1981.50-1982.50 **key
1984.50
1985.75-1987.50
1994.00-1995.00
June 2010 Nasdaq futures support
symbols: emini = nqm0 / big contract = ndm0
1977.50-1977.00 **key
1970.25-1969.50
1966.75-1966.00
1959.50-1958.50
June 2010 Dow futures resistance
symbols: emini = ymm0
10898-10901 **key
10912
10927-10930
10968-10973
June 2010 Dow futures support
symbols: emini = ymm0
10874-10870 **key
10858-10854
11815-11811
10791-10788
---------------------------
REMINDER:
Real Time subscribers can view these updates, and also get
real time instant messages, on the web at this site:
http://www.tradestalker.com/RBIchat.htm
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2010 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, April 06, 2010
TradeStalker's RBI Update 04/04/10
.................................................
TradeStalker's
R.B.I. Trader's Update
4 / 4 / 2010
(Published Since 1996)
...............................................
Dateline: 5:26 pm eastern time, 4/4/2010
The market volatility was very good last week. On Thursday
the ES gapped up 8 points and kept going for 30 minutes
before pulling back to the 1172 support area. A bounce
failed just under the updated 1175 resistance and then a
sharp drop took the ES from 1174.75 to 1166.25 by 2:40 pm.
That's often a reversal time and they ran back up in front
of the Friday Employment number. The market had a positive
reaction to that data, with the ES running up to a new high
for the year at 1178.75 and finished Friday on an up note.
The seasonal upside bias has one more day before that prop
is erased from the market. If the Friday strength holds,
then we could have a gap up open on Monday. This could turn
out to be a "head fake" before the market heads lower. The
early strength should be sold as soon as the upside stalls/
reverses. If that comes from a rejection of the 1180 area on
the ES, then a decent sized drop could occur. A pullback
would need to stay over the 1170.50-1170.00 zone on the ES,
and the worst, to keep from rolling over.
So, look for early strength to set up a shorting opportunity
early on Monday, and if the market obliges and pulls back to
the 1170.50-1170.00 area on the ES, that should be reversed
and the market should bounce back. If they drop that far and
are not reversed, then the trends will roll over.
NOTE: Due to a dental appointment in the morning, the first
intraday update will be sent around noon.
June 2010 SP futures resistance
symbols: emini = esm0 / big contract =spm0
1178.75-1179.00
1181.50-1182.50
1184.50-1186.00
June 2010 SP futures support
symbols: emini = esm0 / big contract =spm0
1174.75-1174.00
1170.50-1170.00
1167.00-1166.50
1163.00-1161.50 **major
June 2010 Nasdaq futures resistance
symbols: emini = nqm0 / big contract = ndm0
1962.00-1963.00
1967.00-1967.75
1976.50-1977.25
June 2010 Nasdaq futures support
symbols: emini = nqm0 / big contract = ndm0
1957.50-1956.75
1952.50-1951.50
1947.00-1946.50
1940.75-1939.50 **major
June 2010 Dow futures resistance
symbols: emini = ymm0
10899-10902
10922-10925
10961-10964
June 2010 Dow futures support
symbols: emini = ymm0
10871-10868
10845-10841
10808-10803
10775-10771 **major
---------------------------
REMINDER:
Real Time subscribers can view these updates, and also get
real time instant messages, on the web at this site:
http://www.tradestalker.com/RBIchat.htm
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2010 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
4 / 4 / 2010
(Published Since 1996)
...............................................
Dateline: 5:26 pm eastern time, 4/4/2010
The market volatility was very good last week. On Thursday
the ES gapped up 8 points and kept going for 30 minutes
before pulling back to the 1172 support area. A bounce
failed just under the updated 1175 resistance and then a
sharp drop took the ES from 1174.75 to 1166.25 by 2:40 pm.
That's often a reversal time and they ran back up in front
of the Friday Employment number. The market had a positive
reaction to that data, with the ES running up to a new high
for the year at 1178.75 and finished Friday on an up note.
The seasonal upside bias has one more day before that prop
is erased from the market. If the Friday strength holds,
then we could have a gap up open on Monday. This could turn
out to be a "head fake" before the market heads lower. The
early strength should be sold as soon as the upside stalls/
reverses. If that comes from a rejection of the 1180 area on
the ES, then a decent sized drop could occur. A pullback
would need to stay over the 1170.50-1170.00 zone on the ES,
and the worst, to keep from rolling over.
So, look for early strength to set up a shorting opportunity
early on Monday, and if the market obliges and pulls back to
the 1170.50-1170.00 area on the ES, that should be reversed
and the market should bounce back. If they drop that far and
are not reversed, then the trends will roll over.
NOTE: Due to a dental appointment in the morning, the first
intraday update will be sent around noon.
June 2010 SP futures resistance
symbols: emini = esm0 / big contract =spm0
1178.75-1179.00
1181.50-1182.50
1184.50-1186.00
June 2010 SP futures support
symbols: emini = esm0 / big contract =spm0
1174.75-1174.00
1170.50-1170.00
1167.00-1166.50
1163.00-1161.50 **major
June 2010 Nasdaq futures resistance
symbols: emini = nqm0 / big contract = ndm0
1962.00-1963.00
1967.00-1967.75
1976.50-1977.25
June 2010 Nasdaq futures support
symbols: emini = nqm0 / big contract = ndm0
1957.50-1956.75
1952.50-1951.50
1947.00-1946.50
1940.75-1939.50 **major
June 2010 Dow futures resistance
symbols: emini = ymm0
10899-10902
10922-10925
10961-10964
June 2010 Dow futures support
symbols: emini = ymm0
10871-10868
10845-10841
10808-10803
10775-10771 **major
---------------------------
REMINDER:
Real Time subscribers can view these updates, and also get
real time instant messages, on the web at this site:
http://www.tradestalker.com/RBIchat.htm
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2010 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, March 31, 2010
TradeStalker's RBI Update 03/28/10
.................................................
TradeStalker's
R.B.I. Trader's Update
3 / 28 / 2010
(Published Since 1996)
...............................................
Dateline: 5:26 pm eastern time, 3/28/2010
The market rallied early on Friday but after just missing
good resistance on the ES and the NQ by half of a point, the
market backed off. A bounce attempt was sold and the ES
dropped 13+ points to 1156.50 by noon. The ES bounced back
to just over the updated resistance and promptly pulled
back. The ES didn't want to stay under 1160.00 however, and
the market basically churned into the close.
The market didn't act so well at the end of last week.
However, it looks like it might have a chance to bounce back
a bit more as long as the initial support areas are not
broken on Monday. The market is looking very top heavy and
the bounces have not been able to stick. However, the Vix
did give 1 buy signal on Friday and the 1160 area was
defended late in the day so a bit more upside should be in
the cards. If we see that action on Monday, beware that when
the move fizzles out it should set up a better odds shorting
opportunity.
So look for some early strength if the initial support is
held, and then if there is a rally up towards the 1167.00-
1167.75 and the move stalls / reverses or shows rejection of
that zone, then a pullback / selloff should occur. If the
initial support areas are not defended, then the 1156.50-
1155.75 zone would need to be quickly reversed, otherwise
there may be a test/ break of last week's low at the
1148.50-1147.75 zone. That would be around the 1150 level on
the SP500 cash, and that area needs to be held, otherwise
the market could be in more trouble than many believe.
June 2010 SP futures resistance
symbols: emini = esm0 / big contract =spm0
1167.00-1167.75
1170.75-1171.50 **key
1176.00-1176.50
June 2010 SP futures support
symbols: emini = esm0 / big contract =spm0
1160.00-1159.50
1156.50-1155.75
1152.00-1151.50
1148.50-1147.75 **major
June 2010 Nasdaq futures resistance
symbols: emini = nqm0 / big contract = ndm0
1955.50-1956.00
1963.50-1964.00 **key
1972.75-1974.25
June 2010 Nasdaq futures support
symbols: emini = nqm0 / big contract = ndm0
1945.00-1944.25
1939.25-1938.50
1934.25-1933.50
1924.25-1922.25 **major
June 2010 Dow futures resistance
symbols: emini = ymm0
10830-10835
10858-10862 **key
10889-10894
June 2010 Dow futures support
symbols: emini = ymm0
10775-10771
10757-10753
10697-10694
10638-10633 **major
---------------------------
REMINDER:
Real Time subscribers can view these updates, and also get
real time instant messages, on the web at this site:
http://www.tradestalker.com/RBIchat.htm
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2010 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
3 / 28 / 2010
(Published Since 1996)
...............................................
Dateline: 5:26 pm eastern time, 3/28/2010
The market rallied early on Friday but after just missing
good resistance on the ES and the NQ by half of a point, the
market backed off. A bounce attempt was sold and the ES
dropped 13+ points to 1156.50 by noon. The ES bounced back
to just over the updated resistance and promptly pulled
back. The ES didn't want to stay under 1160.00 however, and
the market basically churned into the close.
The market didn't act so well at the end of last week.
However, it looks like it might have a chance to bounce back
a bit more as long as the initial support areas are not
broken on Monday. The market is looking very top heavy and
the bounces have not been able to stick. However, the Vix
did give 1 buy signal on Friday and the 1160 area was
defended late in the day so a bit more upside should be in
the cards. If we see that action on Monday, beware that when
the move fizzles out it should set up a better odds shorting
opportunity.
So look for some early strength if the initial support is
held, and then if there is a rally up towards the 1167.00-
1167.75 and the move stalls / reverses or shows rejection of
that zone, then a pullback / selloff should occur. If the
initial support areas are not defended, then the 1156.50-
1155.75 zone would need to be quickly reversed, otherwise
there may be a test/ break of last week's low at the
1148.50-1147.75 zone. That would be around the 1150 level on
the SP500 cash, and that area needs to be held, otherwise
the market could be in more trouble than many believe.
June 2010 SP futures resistance
symbols: emini = esm0 / big contract =spm0
1167.00-1167.75
1170.75-1171.50 **key
1176.00-1176.50
June 2010 SP futures support
symbols: emini = esm0 / big contract =spm0
1160.00-1159.50
1156.50-1155.75
1152.00-1151.50
1148.50-1147.75 **major
June 2010 Nasdaq futures resistance
symbols: emini = nqm0 / big contract = ndm0
1955.50-1956.00
1963.50-1964.00 **key
1972.75-1974.25
June 2010 Nasdaq futures support
symbols: emini = nqm0 / big contract = ndm0
1945.00-1944.25
1939.25-1938.50
1934.25-1933.50
1924.25-1922.25 **major
June 2010 Dow futures resistance
symbols: emini = ymm0
10830-10835
10858-10862 **key
10889-10894
June 2010 Dow futures support
symbols: emini = ymm0
10775-10771
10757-10753
10697-10694
10638-10633 **major
---------------------------
REMINDER:
Real Time subscribers can view these updates, and also get
real time instant messages, on the web at this site:
http://www.tradestalker.com/RBIchat.htm
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2010 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, March 26, 2010
Today's Trading Recap: 03/22/10
HOW OUR DAY WENT:
The ES opened down 8.00 points on Monday
and then instantly reversed and held over the 1149.00-1148.50
key area. That triggered more buying and the ES rallied 12.50
points to 1160.25. Updated support at 1158.00-1157.50 held on
a dip and then the ES basically went trend up to 1162.50 - the
middle of the 1162.00-1163.00 resistance zone. New support was
given at 1160.00-1159.25, and that 1159.25 level was touched
and then we got another push up to 1163.25 before the market
backed off a bit. The dip held at 1161.00 and a test of the
1163.25 high followed. That was just 1 tick over resistance,
and a with a double top there with 30 minutes left in stock
trading, it started a drop to 1160.50 at the 4pm close for
stocks.
Good Trading,
Mike Reed
TradeStalker.com
The ES opened down 8.00 points on Monday
and then instantly reversed and held over the 1149.00-1148.50
key area. That triggered more buying and the ES rallied 12.50
points to 1160.25. Updated support at 1158.00-1157.50 held on
a dip and then the ES basically went trend up to 1162.50 - the
middle of the 1162.00-1163.00 resistance zone. New support was
given at 1160.00-1159.25, and that 1159.25 level was touched
and then we got another push up to 1163.25 before the market
backed off a bit. The dip held at 1161.00 and a test of the
1163.25 high followed. That was just 1 tick over resistance,
and a with a double top there with 30 minutes left in stock
trading, it started a drop to 1160.50 at the 4pm close for
stocks.
Good Trading,
Mike Reed
TradeStalker.com
Today's Trading Recap: 03/19/10
HOW OUR DAY WENT:
Last might members were told "if there is
early strength it would be a gift for an entry on the short
side." The ES gapped up on the open, then reversed from 1165.00
(right at the 1165.25-1165.50 zone) and headed lower. That gap
open at resistance was a great reward/ risk entry on the short
side, and then after breaking the key 1158.00-1157.50 support,
that turned into resistance on a bounce. From there it was
trend down as the ES reached 1152.00 around 11:15am. That was
just 2 ticks over the 1151.50-1151.00 support. We had a very
good morning and called it a day.
Good Trading,
Mike Reed
TradeStalker.com
Last might members were told "if there is
early strength it would be a gift for an entry on the short
side." The ES gapped up on the open, then reversed from 1165.00
(right at the 1165.25-1165.50 zone) and headed lower. That gap
open at resistance was a great reward/ risk entry on the short
side, and then after breaking the key 1158.00-1157.50 support,
that turned into resistance on a bounce. From there it was
trend down as the ES reached 1152.00 around 11:15am. That was
just 2 ticks over the 1151.50-1151.00 support. We had a very
good morning and called it a day.
Good Trading,
Mike Reed
TradeStalker.com
TradeStalker's RBI Update 03/16/10
.................................................
TradeStalker's
R.B.I. Trader's Update
3 / 16 / 2010
(Published Since 1996)
...............................................
Dateline: 6:02 pm eastern time, 3/16/2010
The market gapped up on Tuesday and that early strength was
sold as the ES dropped from 1149.00 to 1145.50 before
turning back up. The bounce was a grind up to a 1153.00
high, and then the market pulled back into the Fed release.
After the release a quick run up was reversed from just
under the 1154.25-1154.75 zone, and a quick drop to the
1149.00-1148.50 support zone was reversed. The rally back
was a choppy trend up move into the final minutes of
trading.
The SP500 cash broke and held 1150 on Tuesday, and now as
long as the 1149.00-1148.50 zone on the ES holds on a
pullback, no damage is done. From up here, the easiest trade
would be to sell into early strength on Wednesday as soon as
any upside stalls/reverses. The move was a bit parabolic on
Tuesday, and a pullback should occur before the market can
move higher. If the market is going to avoid trouble, then a
drop should be reversed from 1151.50-1151.00 or higher on
the ES. If that zone is not defended, then the 1149.00-
1148.50 could be sliced through. If that occurs, then the
break-out will have been a fake-out and a decent sized
correction could begin.
June 2010 SP futures resistance
symbols: emini = esm0 / big contract =spm0
1155.50-1156.00
1158.50-1159.00
1162.00-1163.00
June 2010 SP futures support
symbols: emini = esm0 / big contract =spm0
1151.50-1151.00
1149.00-1148.50 **key short term
1145.50-1145.00
1141.00-1140.50
June 2010 Nasdaq futures resistance
symbols: emini = nqm0 / big contract = ndm0
1931.50-1932.50
1935.25-1936.00
1939.75-1940.50
June 2010 Nasdaq futures support
symbols: emini = nqm0 / big contract = ndm0
1925.00-1924.00
1921.00-1920.25 **key short term
1917.00-1916.00
1909.75-1908.50
June 2010 Dow futures resistance
symbols: emini = ymm0
10630-10635
10657-10661
10682-10687
June 2010 Dow futures support
symbols: emini = ymm0
10612-10608
10581-10578 **key short term
10559-10554
10545-10542
---------------------------
REMINDER:
Real Time subscribers can view these updates, and also get
real time instant messages, on the web at this site:
http://www.tradestalker.com/RBIchat.htm
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2010 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
3 / 16 / 2010
(Published Since 1996)
...............................................
Dateline: 6:02 pm eastern time, 3/16/2010
The market gapped up on Tuesday and that early strength was
sold as the ES dropped from 1149.00 to 1145.50 before
turning back up. The bounce was a grind up to a 1153.00
high, and then the market pulled back into the Fed release.
After the release a quick run up was reversed from just
under the 1154.25-1154.75 zone, and a quick drop to the
1149.00-1148.50 support zone was reversed. The rally back
was a choppy trend up move into the final minutes of
trading.
The SP500 cash broke and held 1150 on Tuesday, and now as
long as the 1149.00-1148.50 zone on the ES holds on a
pullback, no damage is done. From up here, the easiest trade
would be to sell into early strength on Wednesday as soon as
any upside stalls/reverses. The move was a bit parabolic on
Tuesday, and a pullback should occur before the market can
move higher. If the market is going to avoid trouble, then a
drop should be reversed from 1151.50-1151.00 or higher on
the ES. If that zone is not defended, then the 1149.00-
1148.50 could be sliced through. If that occurs, then the
break-out will have been a fake-out and a decent sized
correction could begin.
June 2010 SP futures resistance
symbols: emini = esm0 / big contract =spm0
1155.50-1156.00
1158.50-1159.00
1162.00-1163.00
June 2010 SP futures support
symbols: emini = esm0 / big contract =spm0
1151.50-1151.00
1149.00-1148.50 **key short term
1145.50-1145.00
1141.00-1140.50
June 2010 Nasdaq futures resistance
symbols: emini = nqm0 / big contract = ndm0
1931.50-1932.50
1935.25-1936.00
1939.75-1940.50
June 2010 Nasdaq futures support
symbols: emini = nqm0 / big contract = ndm0
1925.00-1924.00
1921.00-1920.25 **key short term
1917.00-1916.00
1909.75-1908.50
June 2010 Dow futures resistance
symbols: emini = ymm0
10630-10635
10657-10661
10682-10687
June 2010 Dow futures support
symbols: emini = ymm0
10612-10608
10581-10578 **key short term
10559-10554
10545-10542
---------------------------
REMINDER:
Real Time subscribers can view these updates, and also get
real time instant messages, on the web at this site:
http://www.tradestalker.com/RBIchat.htm
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2010 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, March 16, 2010
Today's Trading Recap: 03/15/10
HOW OUR DAY WENT:
The early action was almost according to
script from last night's update. The key 1142 level on the
ES was barely broken (by 1 tick) shortly after stocks opened,
then it popped up to 1145.50 before a sharp reversal. That
was just over the 1145 area, and I felt the move would
reverse from under 1145, so that was an official miss by half
of a point. In any case, after a drop to 1136.50, the market
got footing and 1139 turned pivotal. The break/ hold was over
that level was bullish but the bounce failed at 1140.75. The
pullback off of that level reversed back up with 90 minutes
left, and by breaking and then holding at 1143.50 level, it
gave us that "long shot" run-up to 1146.50-1147.00
resistance by the close.
Good Trading,
Mike Reed
TradeStalker.com
During the day our subscribers are updated frequently in our
Instant Messenger Room. Each evening the log is uploaded,
CLICK HERE to read the log.
This publication's primary focus is trading the index
futures ($ES_F). However, you can also use my nightly updates to
trade the following ETF's (SPY), (QQQQ), (SDS), (QID),
(DIA), and (DOG)
The early action was almost according to
script from last night's update. The key 1142 level on the
ES was barely broken (by 1 tick) shortly after stocks opened,
then it popped up to 1145.50 before a sharp reversal. That
was just over the 1145 area, and I felt the move would
reverse from under 1145, so that was an official miss by half
of a point. In any case, after a drop to 1136.50, the market
got footing and 1139 turned pivotal. The break/ hold was over
that level was bullish but the bounce failed at 1140.75. The
pullback off of that level reversed back up with 90 minutes
left, and by breaking and then holding at 1143.50 level, it
gave us that "long shot" run-up to 1146.50-1147.00
resistance by the close.
Good Trading,
Mike Reed
TradeStalker.com
During the day our subscribers are updated frequently in our
Instant Messenger Room. Each evening the log is uploaded,
CLICK HERE to read the log.
This publication's primary focus is trading the index
futures ($ES_F). However, you can also use my nightly updates to
trade the following ETF's (SPY), (QQQQ), (SDS), (QID),
(DIA), and (DOG)
Today's Trading Recap: 03/12/10
HOW OUR DAY WENT:
The market gapped up and the ES reversed
from 1150.25 (1149.50-1151.00 zone was key resistance) and
dropped 8.25 points to 1142.00 (the 1142.50-1142.00 zone
was key support) about 40 minutes into the trading day.
That was a good way to start the day. After turning up from
1142.00, new resistance was given at the 1146.00-1146.50
area. In a narrow range we had a pullback from 1146.50 to
1143.00, and after a bounce back to 1146.50 there was another
pullback to 1142.50. With that area turning in to strong
support, the ES turned back up with 30 minutes left and
rallied to the 1146.00-1146.50 area by the close
Good Trading,
Mike Reed
TradeStalker.com
During the day our subscribers are updated frequently in our
Instant Messenger Room. Each evening the log is uploaded,
CLICK HERE to read the log.
This publication's primary focus is trading the index
futures ($ES_F). However, you can also use my nightly updates to
trade the following ETF's (SPY), (QQQQ), (SDS), (QID),
(DIA), and (DOG)
The market gapped up and the ES reversed
from 1150.25 (1149.50-1151.00 zone was key resistance) and
dropped 8.25 points to 1142.00 (the 1142.50-1142.00 zone
was key support) about 40 minutes into the trading day.
That was a good way to start the day. After turning up from
1142.00, new resistance was given at the 1146.00-1146.50
area. In a narrow range we had a pullback from 1146.50 to
1143.00, and after a bounce back to 1146.50 there was another
pullback to 1142.50. With that area turning in to strong
support, the ES turned back up with 30 minutes left and
rallied to the 1146.00-1146.50 area by the close
Good Trading,
Mike Reed
TradeStalker.com
During the day our subscribers are updated frequently in our
Instant Messenger Room. Each evening the log is uploaded,
CLICK HERE to read the log.
This publication's primary focus is trading the index
futures ($ES_F). However, you can also use my nightly updates to
trade the following ETF's (SPY), (QQQQ), (SDS), (QID),
(DIA), and (DOG)
TradeStalker's RBI Update 03/11/10
.................................................
TradeStalker's
R.B.I. Trader's Update
3 / 11 / 2010
(Published Since 1996)
...............................................
Dateline: 6:43 pm eastern time, 3/11/2010
The market opened lower on Thursday and then after the June
ES reached 1134.00 (we had support at 1134.50-1134.00) it
turned back up and rallied to 1141.50. That was rejected,
and a drop to 1136.75 followed. Another bounce to 1141.00
was reversed and the ES dropped to the 1138.00 updated
support. More buying came in at 2 pm and the ES rallied to
the 1146.00-1146.50 zone to close strong.
The ES broke out of a triangle/trading range and made a new
closing high for the year by 1 penny. The ES settled right
at a resistance area, so follow through holding will be key.
We get the retail sales before the open on Friday, and the
Michigan Sentiment report is released at 9:55 am. If the
number doesn't hurt the up-trends, we could get to the 1154
area on the SP500 cash before a turn back down. However, if
there is no follow through, and the initial support areas
are not held, then a decent sized drop should be underway.
Look for early strength to be sold on Friday, and then if
the initial support areas are held on a pullback, the rally
can continue. If the initial support areas are broken, and
there is not a quick reversal, then a sharp drop back down
to the 1134.50-1134.00 area from Thursday would need to
hold, and quickly turn back up. The SP500 cash has closed up
9 of the last 10 days, so if market drops that far and a
reversal back up doesn't happen fast, then the downside
could accelerate and finish the week on a bad note.
June 2010 SP futures resistance
symbols: emini = esm0 / big contract =spm0
1146.00-1146.50
1149.50-1151.00
Equivalent to the 1154 area on SP500 Cash
1154.25-1154.75
June 2010 SP futures support
symbols: emini = esm0 / big contract =spm0
1142.50-1142.00
1138.50-1135.00
1134.50-1134.00
June 2010 Nasdaq futures resistance
symbols: emini = nqm0 / big contract = ndm0
1923.75-1924.50
1928.75-1929.50
1934.75-1935.25
June 2010 Nasdaq futures support
symbols: emini = nqm0 / big contract = ndm0
1916.25-1915.50
1910.50-1909.75
1907.00-1906.00
June 2010 Dow futures resistance
symbols: emini = ymm0
10550-10554
10584-10588
10550-10554
10584-10588
June 2010 Dow futures support
symbols: emini = ymm0
10523-10519
10491-10487
10447-10443
CLICK HERE for FREE Trading Articles and Videos!
Good Trading,
Mike Reed
TradeStalker.com
Copyright (c) 2010 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
This publication's primary focus is trading the index
futures ($ES_F). 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 / 11 / 2010
(Published Since 1996)
...............................................
Dateline: 6:43 pm eastern time, 3/11/2010
The market opened lower on Thursday and then after the June
ES reached 1134.00 (we had support at 1134.50-1134.00) it
turned back up and rallied to 1141.50. That was rejected,
and a drop to 1136.75 followed. Another bounce to 1141.00
was reversed and the ES dropped to the 1138.00 updated
support. More buying came in at 2 pm and the ES rallied to
the 1146.00-1146.50 zone to close strong.
The ES broke out of a triangle/trading range and made a new
closing high for the year by 1 penny. The ES settled right
at a resistance area, so follow through holding will be key.
We get the retail sales before the open on Friday, and the
Michigan Sentiment report is released at 9:55 am. If the
number doesn't hurt the up-trends, we could get to the 1154
area on the SP500 cash before a turn back down. However, if
there is no follow through, and the initial support areas
are not held, then a decent sized drop should be underway.
Look for early strength to be sold on Friday, and then if
the initial support areas are held on a pullback, the rally
can continue. If the initial support areas are broken, and
there is not a quick reversal, then a sharp drop back down
to the 1134.50-1134.00 area from Thursday would need to
hold, and quickly turn back up. The SP500 cash has closed up
9 of the last 10 days, so if market drops that far and a
reversal back up doesn't happen fast, then the downside
could accelerate and finish the week on a bad note.
June 2010 SP futures resistance
symbols: emini = esm0 / big contract =spm0
1146.00-1146.50
1149.50-1151.00
Equivalent to the 1154 area on SP500 Cash
1154.25-1154.75
June 2010 SP futures support
symbols: emini = esm0 / big contract =spm0
1142.50-1142.00
1138.50-1135.00
1134.50-1134.00
June 2010 Nasdaq futures resistance
symbols: emini = nqm0 / big contract = ndm0
1923.75-1924.50
1928.75-1929.50
1934.75-1935.25
June 2010 Nasdaq futures support
symbols: emini = nqm0 / big contract = ndm0
1916.25-1915.50
1910.50-1909.75
1907.00-1906.00
June 2010 Dow futures resistance
symbols: emini = ymm0
10550-10554
10584-10588
10550-10554
10584-10588
June 2010 Dow futures support
symbols: emini = ymm0
10523-10519
10491-10487
10447-10443
CLICK HERE for FREE Trading Articles and Videos!
Good Trading,
Mike Reed
TradeStalker.com
Copyright (c) 2010 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
This publication's primary focus is trading the index
futures ($ES_F). However, you can also use my nightly updates to
trade the following ETF's (SPY), (QQQQ), (SDS), (QID),
(DIA), and (DOG)
www.TradeStalker.com
PO Box 9783, Ft Wayne, IN, 46899
Disclaimer
The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.
We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************
Wednesday, March 10, 2010
Today's Trading Recap: 03/08/10
HOW OUR DAY WENT:
The market opened higher on Monday and the
ES ran up to 1040.50 before a dip. After that dip, a bounce
to 1140.00 failed and it set up a 123 top. A pullback to
1136.00 followed. That was just over the initial support at
1135.50-1135.00 and a bounce back to 1140.00 was next. The
moves couldn't stick with the market so overbought, and a
drop to test the lows occurred just before the futures
settled. As overbough as the market was, shorting that early
pop was the best trade all day.
Good Trading,
Mike Reed
TradeStalker.com
During the day our subscribers are updated frequently in our
Instant Messenger Room. Each evening the log is uploaded,
CLICK HERE to read the log.
This publication's primary focus is trading the index
futures ($ES_F). However, you can also use my nightly updates to
trade the following ETF's (SPY), (QQQQ), (SDS), (QID),
(DIA), and (DOG)
The market opened higher on Monday and the
ES ran up to 1040.50 before a dip. After that dip, a bounce
to 1140.00 failed and it set up a 123 top. A pullback to
1136.00 followed. That was just over the initial support at
1135.50-1135.00 and a bounce back to 1140.00 was next. The
moves couldn't stick with the market so overbought, and a
drop to test the lows occurred just before the futures
settled. As overbough as the market was, shorting that early
pop was the best trade all day.
Good Trading,
Mike Reed
TradeStalker.com
During the day our subscribers are updated frequently in our
Instant Messenger Room. Each evening the log is uploaded,
CLICK HERE to read the log.
This publication's primary focus is trading the index
futures ($ES_F). However, you can also use my nightly updates to
trade the following ETF's (SPY), (QQQQ), (SDS), (QID),
(DIA), and (DOG)
TradeStalker's RBI Update 03/07/10
.................................................
TradeStalker's
R.B.I. Trader's Update
3 / 7 / 2010
(Published Since 1996)
...............................................
Dateline: 5:26 pm eastern time, 3/7/2010
The ES gapped up 7 points on Friday and after a brief
pullback the upside reasserted itself and the ES bounced
from 1126.00 to 1135.00 in trend up fashion into the 2:20-
2:40 time frame. Finding good support at the 1132.50 level,
the market broke out over the 1135 high and tacked on almost
4 more points. An instant message warned of resistance at
1138 on a bounce, and that was rejected just before the
close.
NOTE: I'm having a camp this week, so my apologies if I
don't get out as many intraday updates as usual over the
next few days. The instant messenger will work the best for
those.
The market broke the range to the upside on Friday, and now
the task will be holding on to those gains. The internal
gauges are at overbought extremes. My RBI oscillator is in
sell territory, and the 3 day Thrust oscillator is at +.57.
Other internal gauges like the McClellan oscillator are more
overbought than at the January top. Also, the Vix closed
more than 10% under its 10 day average close, and also at a
new low for the year. A reversal would give 5 sell signals
on Monday. Finally, the closing Trin on Friday was at .40.
That is equivalent to a closing Trin of 2.50 if the data is
reversed. On February 23rd, with the SP500 cash at 1094.60
and a closing Trin at 3.03 I stated that it should mark a
low within 7 trading hours. The market headed higher and
hasn't looked back since then. At this juncture it looks
like a top should occur on Monday, if it didn't top already
on Friday.
That said, the market does have a good bid on the deeper
drops. If there is a selloff that can hold and reverse from
the 1133.00-1132.50 area on the ES, it will keep the market
from falling apart. If the market sells off to the Friday
afternoon low areas, and does not quickly reverse, then a
bigger drop is in the cards. Unless that happens, there
should be two-sided action at best on Monday so look to get
short if the Friday highs are tested and rejected. If we get
a selloff and the 1133.00-1132.50 area is not defended, then
things will be changing short term.
March 2010 SP futures resistance
symbols: emini = esh0 / big contract =sph0
1138.00-1138.75
1141.50-1142.00
1146.50-1147.00
March 2010 SP futures support
symbols: emini = esh0 / big contract =sph0
1135.50-1135.00
1133.00-1132.50
1126.00
1123.50-1123.00
1120.50-1120.00
March 2010 Nasdaq futures resistance
symbols: emini = nqh0 / big contract = ndh0
1888.75-1889.50
1893.75-1894.50
1902.00-1903.00
March 2010 Nasdaq futures support
symbols: emini = nqh0 / big contract = ndh0
1883.00-1882.00
1879.50-1878.50
1868.50
1860.75-1859.00
1854.75-1854.00
March 2010 Dow futures resistance
symbols: emini = ymh0
10558-10561
10581-10584
10616-10620
March 2010 Dow futures support
symbols: emini = ymh0
10532-10528
10514-10511
10468
10440-10436
10423-10419
CLICK HERE for FREE Trading Articles and Videos!
Good Trading,
Mike Reed
TradeStalker.com
Copyright (c) 2010 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
This publication's primary focus is trading the index
futures ($ES_F). 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 / 7 / 2010
(Published Since 1996)
...............................................
Dateline: 5:26 pm eastern time, 3/7/2010
The ES gapped up 7 points on Friday and after a brief
pullback the upside reasserted itself and the ES bounced
from 1126.00 to 1135.00 in trend up fashion into the 2:20-
2:40 time frame. Finding good support at the 1132.50 level,
the market broke out over the 1135 high and tacked on almost
4 more points. An instant message warned of resistance at
1138 on a bounce, and that was rejected just before the
close.
NOTE: I'm having a camp this week, so my apologies if I
don't get out as many intraday updates as usual over the
next few days. The instant messenger will work the best for
those.
The market broke the range to the upside on Friday, and now
the task will be holding on to those gains. The internal
gauges are at overbought extremes. My RBI oscillator is in
sell territory, and the 3 day Thrust oscillator is at +.57.
Other internal gauges like the McClellan oscillator are more
overbought than at the January top. Also, the Vix closed
more than 10% under its 10 day average close, and also at a
new low for the year. A reversal would give 5 sell signals
on Monday. Finally, the closing Trin on Friday was at .40.
That is equivalent to a closing Trin of 2.50 if the data is
reversed. On February 23rd, with the SP500 cash at 1094.60
and a closing Trin at 3.03 I stated that it should mark a
low within 7 trading hours. The market headed higher and
hasn't looked back since then. At this juncture it looks
like a top should occur on Monday, if it didn't top already
on Friday.
That said, the market does have a good bid on the deeper
drops. If there is a selloff that can hold and reverse from
the 1133.00-1132.50 area on the ES, it will keep the market
from falling apart. If the market sells off to the Friday
afternoon low areas, and does not quickly reverse, then a
bigger drop is in the cards. Unless that happens, there
should be two-sided action at best on Monday so look to get
short if the Friday highs are tested and rejected. If we get
a selloff and the 1133.00-1132.50 area is not defended, then
things will be changing short term.
March 2010 SP futures resistance
symbols: emini = esh0 / big contract =sph0
1138.00-1138.75
1141.50-1142.00
1146.50-1147.00
March 2010 SP futures support
symbols: emini = esh0 / big contract =sph0
1135.50-1135.00
1133.00-1132.50
1126.00
1123.50-1123.00
1120.50-1120.00
March 2010 Nasdaq futures resistance
symbols: emini = nqh0 / big contract = ndh0
1888.75-1889.50
1893.75-1894.50
1902.00-1903.00
March 2010 Nasdaq futures support
symbols: emini = nqh0 / big contract = ndh0
1883.00-1882.00
1879.50-1878.50
1868.50
1860.75-1859.00
1854.75-1854.00
March 2010 Dow futures resistance
symbols: emini = ymh0
10558-10561
10581-10584
10616-10620
March 2010 Dow futures support
symbols: emini = ymh0
10532-10528
10514-10511
10468
10440-10436
10423-10419
CLICK HERE for FREE Trading Articles and Videos!
Good Trading,
Mike Reed
TradeStalker.com
Copyright (c) 2010 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
This publication's primary focus is trading the index
futures ($ES_F). 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 04, 2010
TradeStalker's RBI Update 03/03/10
.................................................
TradeStalker's
R.B.I. Trader's Update
3 / 3 / 2010
(Published Since 1996)
...............................................
Dateline: 7:55 pm eastern time, 3/3/2010
The early strength was sold on Wednesday, and then the first
pullback held just over Tuesday's close and turned back up.
After reaching 1125, a 1-2-3 top formed and that was it for
the rally. Then when 1123 broke, the ES went to the 1120.50
updated support and bounced. However, the pressure was still
on under 1123.00, and after twice rejecting 1122.75, the ES
rolled over and fell to 1115.50. We were staying with shorts
down to 1115, but per instant message we locked in profits
on day trades around 1116 and stepped aside.
On Thursday we get Initial Claims before the open and then
Pending Home Sales at 10 am. The market was unable to hold
its gains on Wednesday, and by the look of things they won't
be able to on Thursday either. The 1115.50-1115.25 area will
need to be defended on a pullback for the market to stay in
a trading range. If that area is not quickly reversed, along
with the NQ at its 1846.50-1845.75 support, then the market
will be breaking down. On the upside, the 1120.00-1120.50
area on the ES would need to be exceeded, and then held on a
pullback, to get out of potential trouble on Thursday.
However, if that area is not held, then the market will
continue to offer better opportunities on the short side.
So, for now the bounces should set up good shorting
opportunities as soon as the upside stalls out, or rejects a
resistance zone. On the downside, if the ES sells off to
test the 1115.50-1115.25 area and turns back up, it should
be worth a scalp trade on the long side. Just be careful not
to load up on any position just yet. If the ES slides down
to the 1112.00-1111.25 area and stalls or reverses, that
could give a decent trade on the long side as shorts cover
at a formerly strong resistance area.
March 2010 SP futures resistance
symbols: emini = esh0 / big contract =sph0
1119.75-1120.50
1124.50-1125.00
1127.50-1128.00
March 2010 SP futures support
symbols: emini = esh0 / big contract =sph0
1115.50-1115.25
1112.00-1111.25
1107.00-1106.50
1104.25-1103.50
March 2010 Nasdaq futures resistance
symbols: emini = nqh0 / big contract = ndh0
1853.50-1854.25
1861.75-1862.25
1867.50-1870.00
March 2010 Nasdaq futures support
symbols: emini = nqh0 / big contract = ndh0
1846.50-1845.75
1842.50-1841.75
1836.50-1835.50
1827.00-1825.25
March 2010 Dow futures resistance
symbols: emini = ymh0
10408-10412
10455-10458
10482-10486
March 2010 Dow futures support
symbols: emini = ymh0
10369-10364
10338-10334
10289-10284
10258-10253
CLICK HERE for FREE Trading Articles and Videos!
Good Trading,
Mike Reed
TradeStalker.com
Copyright (c) 2010 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 / 3 / 2010
(Published Since 1996)
...............................................
Dateline: 7:55 pm eastern time, 3/3/2010
The early strength was sold on Wednesday, and then the first
pullback held just over Tuesday's close and turned back up.
After reaching 1125, a 1-2-3 top formed and that was it for
the rally. Then when 1123 broke, the ES went to the 1120.50
updated support and bounced. However, the pressure was still
on under 1123.00, and after twice rejecting 1122.75, the ES
rolled over and fell to 1115.50. We were staying with shorts
down to 1115, but per instant message we locked in profits
on day trades around 1116 and stepped aside.
On Thursday we get Initial Claims before the open and then
Pending Home Sales at 10 am. The market was unable to hold
its gains on Wednesday, and by the look of things they won't
be able to on Thursday either. The 1115.50-1115.25 area will
need to be defended on a pullback for the market to stay in
a trading range. If that area is not quickly reversed, along
with the NQ at its 1846.50-1845.75 support, then the market
will be breaking down. On the upside, the 1120.00-1120.50
area on the ES would need to be exceeded, and then held on a
pullback, to get out of potential trouble on Thursday.
However, if that area is not held, then the market will
continue to offer better opportunities on the short side.
So, for now the bounces should set up good shorting
opportunities as soon as the upside stalls out, or rejects a
resistance zone. On the downside, if the ES sells off to
test the 1115.50-1115.25 area and turns back up, it should
be worth a scalp trade on the long side. Just be careful not
to load up on any position just yet. If the ES slides down
to the 1112.00-1111.25 area and stalls or reverses, that
could give a decent trade on the long side as shorts cover
at a formerly strong resistance area.
March 2010 SP futures resistance
symbols: emini = esh0 / big contract =sph0
1119.75-1120.50
1124.50-1125.00
1127.50-1128.00
March 2010 SP futures support
symbols: emini = esh0 / big contract =sph0
1115.50-1115.25
1112.00-1111.25
1107.00-1106.50
1104.25-1103.50
March 2010 Nasdaq futures resistance
symbols: emini = nqh0 / big contract = ndh0
1853.50-1854.25
1861.75-1862.25
1867.50-1870.00
March 2010 Nasdaq futures support
symbols: emini = nqh0 / big contract = ndh0
1846.50-1845.75
1842.50-1841.75
1836.50-1835.50
1827.00-1825.25
March 2010 Dow futures resistance
symbols: emini = ymh0
10408-10412
10455-10458
10482-10486
March 2010 Dow futures support
symbols: emini = ymh0
10369-10364
10338-10334
10289-10284
10258-10253
CLICK HERE for FREE Trading Articles and Videos!
Good Trading,
Mike Reed
TradeStalker.com
Copyright (c) 2010 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, March 03, 2010
TradeStalker's RBI Update 03/02/10
.................................................
TradeStalker's
R.B.I. Trader's Update
3 / 2 / 2010
(Published Since 1996)
...............................................
Dateline: 7:26 pm eastern time, 3/2/2010
The 1121.50-1122.50 area on the ES was rejected shortly
before stocks opened and the early strength was sold as the
ES dropped 4.50 points to 1116.25 before turning up. That
first decent pullback was reversed, and a tepid buy-up to
the 1121.50-1122.50 area followed. At 1:55 pm (with the
market at its highs) I gave a lot of reasons to avoid longs
via Instant Message, and after taking out 1119 that level
turned into resistance as the market gave back its gains.
The ES reached 1105.25 to fill the gap on the daily chart
then bounced a bit into the close.
The futures topped out at a good resistance area on Tuesday,
and now the market is getting short term overbought again.
The McClellan oscillator reached +199, and my 3 day Thrust
oscillator reached +.62. in addition to that, the Vix gave 2
sell signals at Tuesday's close. This should tilt the odds
in favor of selling strength on Wednesday. We will get the
Fed's Beige Book release at 2 pm on Wednesday and then the
volatility should begin.
If the market opens higher look for that to set up a trade
on the short side. A weak market would be sold from the
1118.50-1119.25 area on the ES. If that plays out, then a
drop that reverses from the 1112.00-1111.25 area on the ES
could set up a trade on the long side. If that occurs, don't
overstay that side as the upside appears to be very limited.
A decent bounce that fizzles out near the Tuesday highs
should be sold if the indicators are not a day early. If the
Tuesday highs are tested and rejected, then a good sized
drop could come from that. If the Tuesday highs are easily
exceeded, then a run up to the 1126.50-1128.00 area could
occur before any attempt to reverse directions occurs.
March 2010 SP futures resistance
symbols: emini = esh0 / big contract =sph0
1118.50-1119.25
1122.00-1122.75
1126.50-1128.00
March 2010 SP futures support
symbols: emini = esh0 / big contract =sph0
1115.25
1112.00-1111.25
1107.50-1106.50 **strong, key
1104.25-1103.50
March 2010 Nasdaq futures resistance
symbols: emini = nqh0 / big contract = ndh0
1853.50-1854.25
1861.75-1862.25
1867.50-1870.00
March 2010 Nasdaq futures support
symbols: emini = nqh0 / big contract = ndh0
1846.50
1842.50-1841.75
1836.50-1834.75 **strong, key
1827.00-1825.25
March 2010 Dow futures resistance
symbols: emini = ymh0
10408-10412
10436-10440
10486-10494
March 2010 Dow futures support
symbols: emini = ymh0
10377
10369-10364
10322-10319 **strong, key
10301-10297
CLICK HERE for FREE Trading Articles and Videos!
Good Trading,
Mike Reed
TradeStalker.com
Copyright (c) 2010 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 / 2 / 2010
(Published Since 1996)
...............................................
Dateline: 7:26 pm eastern time, 3/2/2010
The 1121.50-1122.50 area on the ES was rejected shortly
before stocks opened and the early strength was sold as the
ES dropped 4.50 points to 1116.25 before turning up. That
first decent pullback was reversed, and a tepid buy-up to
the 1121.50-1122.50 area followed. At 1:55 pm (with the
market at its highs) I gave a lot of reasons to avoid longs
via Instant Message, and after taking out 1119 that level
turned into resistance as the market gave back its gains.
The ES reached 1105.25 to fill the gap on the daily chart
then bounced a bit into the close.
The futures topped out at a good resistance area on Tuesday,
and now the market is getting short term overbought again.
The McClellan oscillator reached +199, and my 3 day Thrust
oscillator reached +.62. in addition to that, the Vix gave 2
sell signals at Tuesday's close. This should tilt the odds
in favor of selling strength on Wednesday. We will get the
Fed's Beige Book release at 2 pm on Wednesday and then the
volatility should begin.
If the market opens higher look for that to set up a trade
on the short side. A weak market would be sold from the
1118.50-1119.25 area on the ES. If that plays out, then a
drop that reverses from the 1112.00-1111.25 area on the ES
could set up a trade on the long side. If that occurs, don't
overstay that side as the upside appears to be very limited.
A decent bounce that fizzles out near the Tuesday highs
should be sold if the indicators are not a day early. If the
Tuesday highs are tested and rejected, then a good sized
drop could come from that. If the Tuesday highs are easily
exceeded, then a run up to the 1126.50-1128.00 area could
occur before any attempt to reverse directions occurs.
March 2010 SP futures resistance
symbols: emini = esh0 / big contract =sph0
1118.50-1119.25
1122.00-1122.75
1126.50-1128.00
March 2010 SP futures support
symbols: emini = esh0 / big contract =sph0
1115.25
1112.00-1111.25
1107.50-1106.50 **strong, key
1104.25-1103.50
March 2010 Nasdaq futures resistance
symbols: emini = nqh0 / big contract = ndh0
1853.50-1854.25
1861.75-1862.25
1867.50-1870.00
March 2010 Nasdaq futures support
symbols: emini = nqh0 / big contract = ndh0
1846.50
1842.50-1841.75
1836.50-1834.75 **strong, key
1827.00-1825.25
March 2010 Dow futures resistance
symbols: emini = ymh0
10408-10412
10436-10440
10486-10494
March 2010 Dow futures support
symbols: emini = ymh0
10377
10369-10364
10322-10319 **strong, key
10301-10297
CLICK HERE for FREE Trading Articles and Videos!
Good Trading,
Mike Reed
TradeStalker.com
Copyright (c) 2010 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 RBI Update 02/23/10
.................................................
TradeStalker's
R.B.I. Trader's Update
2 / 23 / 2010
(Published Since 1996)
...............................................
Dateline: 6:46 pm eastern time, 2/23/2010
The ES opened lower and turned up, giving a quick bounce
from 1102.75 to 1107.50 in the first 25 minutes. That was
just under the initial resistance at the 1108.00-1108.00
zone and set up a shorting opportunity. A fast drop took the
ES to 1093.50 before bouncing, which was at the 1093.75-
1093.00 zone. A bounce was reversed at 1098 old support and
dropped to a 1090.25 low by 2 pm. A move back to updated
resistance at the 1097.50-1098.00 area followed. A 5 point
drop to 1092.25 followed, then the ES ran up and settled
right at the 1097.50-1098.00 resistance zone.
The internal gauges went from very overbought extremes to an
oversold extreme on a few indicators. One was the closing
Trin at 3.03 o Tuesday. These extremes used to be rare, and
reserved for only the most wicked of selloffs. They would
also tend to mark a short term low within a day or 2 at
most. A closing Trin at 3.00 hasn't been as rare recently,
but the results have tended to be the same. Since September
1, 2009, the closing Trin reached 2.90 or higher on 6
occasions. All 6 occasions marked a low on a closing basis
within 1 day. In case you want the dates and closing Trin
readings, they were on 9/01/09 at 3.47, 10/01/09 at 3.63,
10/30/09 at 2.90, 11/27 at 5.03, 12/17/09 at 3.08 and last
one was a few weeks ago on 2/04/10 at 3.45.
The only thing that opposes this is that the daily chart
pattern doesn't look very good, and the Vix reversed and
that gave a second sell signal. So, with a bit of a mixed
bag, it looks like the market should be alright as long as
the ES stays over the 1092 level. The ES settled more than 3
points over fair value on Tuesday, so higher prices are
factored into the open. They also settled at a resistance
zone, so an early pullback won't be a surprise.
So, look for early strength or a flat open to be met with
selling, but the first decent pullback should set up a
buying opportunity. A two-sided day is likely as long as the
ES doesn't break under the 1089.00-1088.50 area. If that
occurs, then a snap-back rally might need to be put on hold
as things could get a bit ugly.
March 2010 SP futures resistance
symbols: emini = esh0 / big contract =sph0
1097.50-1198.00
1103.50-1104.00
1108.00-1108.50
1111.00-1112.00 **strong
March 2010 SP futures support
symbols: emini = esh0 / big contract =sph0
1092.50
1089.00-1088.50
1086.75-1086.25
1082.25-1081.50
March 2010 Nasdaq futures resistance
symbols: emini = nqh0 / big contract = ndh0
1801.50-1802.00
1810.25-1811.50
1821.50-1822.25
1828.50-1830.00 **strong
March 2010 Nasdaq futures support
symbols: emini = nqh0 / big contract = ndh0
1792.50
1786.00-1785.00
1782.50-1781.50
1777.50-1776.50
March 2010 Dow futures resistance
symbols: emini = ymh0
10303-10307
10353-10358
10390-10395
10402-10406 **strong
March 2010 Dow futures support
symbols: emini = ymh0
10251
10238-10235
10221-10219
10182-10179
---------------------------
REMINDER:
Real Time subscribers can view these updates, and also get
real time instant messages, on the web at this site:
http://www.tradestalker.com/RBIchat.htm
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2010 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
2 / 23 / 2010
(Published Since 1996)
...............................................
Dateline: 6:46 pm eastern time, 2/23/2010
The ES opened lower and turned up, giving a quick bounce
from 1102.75 to 1107.50 in the first 25 minutes. That was
just under the initial resistance at the 1108.00-1108.00
zone and set up a shorting opportunity. A fast drop took the
ES to 1093.50 before bouncing, which was at the 1093.75-
1093.00 zone. A bounce was reversed at 1098 old support and
dropped to a 1090.25 low by 2 pm. A move back to updated
resistance at the 1097.50-1098.00 area followed. A 5 point
drop to 1092.25 followed, then the ES ran up and settled
right at the 1097.50-1098.00 resistance zone.
The internal gauges went from very overbought extremes to an
oversold extreme on a few indicators. One was the closing
Trin at 3.03 o Tuesday. These extremes used to be rare, and
reserved for only the most wicked of selloffs. They would
also tend to mark a short term low within a day or 2 at
most. A closing Trin at 3.00 hasn't been as rare recently,
but the results have tended to be the same. Since September
1, 2009, the closing Trin reached 2.90 or higher on 6
occasions. All 6 occasions marked a low on a closing basis
within 1 day. In case you want the dates and closing Trin
readings, they were on 9/01/09 at 3.47, 10/01/09 at 3.63,
10/30/09 at 2.90, 11/27 at 5.03, 12/17/09 at 3.08 and last
one was a few weeks ago on 2/04/10 at 3.45.
The only thing that opposes this is that the daily chart
pattern doesn't look very good, and the Vix reversed and
that gave a second sell signal. So, with a bit of a mixed
bag, it looks like the market should be alright as long as
the ES stays over the 1092 level. The ES settled more than 3
points over fair value on Tuesday, so higher prices are
factored into the open. They also settled at a resistance
zone, so an early pullback won't be a surprise.
So, look for early strength or a flat open to be met with
selling, but the first decent pullback should set up a
buying opportunity. A two-sided day is likely as long as the
ES doesn't break under the 1089.00-1088.50 area. If that
occurs, then a snap-back rally might need to be put on hold
as things could get a bit ugly.
March 2010 SP futures resistance
symbols: emini = esh0 / big contract =sph0
1097.50-1198.00
1103.50-1104.00
1108.00-1108.50
1111.00-1112.00 **strong
March 2010 SP futures support
symbols: emini = esh0 / big contract =sph0
1092.50
1089.00-1088.50
1086.75-1086.25
1082.25-1081.50
March 2010 Nasdaq futures resistance
symbols: emini = nqh0 / big contract = ndh0
1801.50-1802.00
1810.25-1811.50
1821.50-1822.25
1828.50-1830.00 **strong
March 2010 Nasdaq futures support
symbols: emini = nqh0 / big contract = ndh0
1792.50
1786.00-1785.00
1782.50-1781.50
1777.50-1776.50
March 2010 Dow futures resistance
symbols: emini = ymh0
10303-10307
10353-10358
10390-10395
10402-10406 **strong
March 2010 Dow futures support
symbols: emini = ymh0
10251
10238-10235
10221-10219
10182-10179
---------------------------
REMINDER:
Real Time subscribers can view these updates, and also get
real time instant messages, on the web at this site:
http://www.tradestalker.com/RBIchat.htm
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2010 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 02/18/10
.................................................
TradeStalker's
R.B.I. Trader's Update
2 / 18 / 2010
(Published Since 1996)
...............................................
Dateline: 6:16 pm eastern time, 2/18/2010
The lower open on Thursday was reversed from 1 tick under
the 1096.50-1096.00 support zone on the ES and then it ran
up to 1102.00, just under the big 1102.50-1104.00 zone. A
drop of 5.75 points to 1096.25 followed, and then the market
turned back up and reached 1100.50. A pullback based out at
1098.00, and the breakout over 1100 was held and reversed on
a pullback, and the market took off to the upside. The ES
rallied to and through the 1102.50-1104.00 zone on the way
to a high at 1106.00. The 1104.00 area turned into new
support as the ES firmed into the close.
After the close the Fed raised the discount rate by a
quarter of a point and stocks are down pretty hard as this
is being written. In the last hour I sent an instant message
saying:
"(Feb 18-15:08) Mike: this is the start of a good
sized drop, swing trade for me on part"
If you are in that with me, take half off at the 1093.75-
1093.00 zone overnight or in the morning. Keep a stop at
break-even for the time being.
The market is still extremely overbought, and the upside is
looking like it's limited even if there is a reflex rally
off of a lower open on Friday. The 3 Day thrust reached +.78
at Thursday's close (one of the most overbought readings in
months) and the RBI oscillator is in sell territory. The Vix
reached 20.60 and should jump way up on the open, and it has
given a couple of sell signals.
On Friday look for a trade on the long side if the market
opens lower and then can reverse back up. If that plays out,
beware that the first bounce should set up a very good
shorting opportunity. If the ES cannot reverse from the
1093.75-1093.00 support zone, then a move down to the
1089.00-1088.50 zone must hold. If that area is broken the
market should see the downside, could gather momentum and
the week will end on a sour note.
NOTE- If the weakness holds overnight, the resistance areas
that are broken should turn into resistance on the way up.
March 2010 SP futures resistance
symbols: emini = esh0 / big contract =sph0
1106.75
1107.50-1108.00
1110.50-1112.00
March 2010 SP futures support
symbols: emini = esh0 / big contract =sph0
1104.00
1100.00-1099.50
1098.25-1097.75
1093.75-1093.00
1089.00-1088.50
1086.75-1086.25
March 2010 Nasdaq futures resistance
symbols: emini = nqh0 / big contract = ndh0
1824.75
1826.50-1827.50
1832.00-1834.00
March 2010 Nasdaq futures support
symbols: emini = nqh0 / big contract = ndh0
1821.50
1815.00-1814.25
1811.50-1811.00
1803.25-1802.25
1795.25-1794.50
1792.50-1791.50
March 2010 Dow futures resistance
symbols: emini = ymh0
10385
10392-10397
10418-10424
March 2010 Dow futures support
symbols: emini = ymh0
10359
10325-10322
10299-10295
10257-10252
10204-10200
10182-10179
---------------------------
REMINDER:
Real Time subscribers can view these updates, and also get
real time instant messages, on the web at this site:
http://www.tradestalker.com/RBIchat.htm
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2010 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
2 / 18 / 2010
(Published Since 1996)
...............................................
Dateline: 6:16 pm eastern time, 2/18/2010
The lower open on Thursday was reversed from 1 tick under
the 1096.50-1096.00 support zone on the ES and then it ran
up to 1102.00, just under the big 1102.50-1104.00 zone. A
drop of 5.75 points to 1096.25 followed, and then the market
turned back up and reached 1100.50. A pullback based out at
1098.00, and the breakout over 1100 was held and reversed on
a pullback, and the market took off to the upside. The ES
rallied to and through the 1102.50-1104.00 zone on the way
to a high at 1106.00. The 1104.00 area turned into new
support as the ES firmed into the close.
After the close the Fed raised the discount rate by a
quarter of a point and stocks are down pretty hard as this
is being written. In the last hour I sent an instant message
saying:
"(Feb 18-15:08) Mike: this is the start of a good
sized drop, swing trade for me on part"
If you are in that with me, take half off at the 1093.75-
1093.00 zone overnight or in the morning. Keep a stop at
break-even for the time being.
The market is still extremely overbought, and the upside is
looking like it's limited even if there is a reflex rally
off of a lower open on Friday. The 3 Day thrust reached +.78
at Thursday's close (one of the most overbought readings in
months) and the RBI oscillator is in sell territory. The Vix
reached 20.60 and should jump way up on the open, and it has
given a couple of sell signals.
On Friday look for a trade on the long side if the market
opens lower and then can reverse back up. If that plays out,
beware that the first bounce should set up a very good
shorting opportunity. If the ES cannot reverse from the
1093.75-1093.00 support zone, then a move down to the
1089.00-1088.50 zone must hold. If that area is broken the
market should see the downside, could gather momentum and
the week will end on a sour note.
NOTE- If the weakness holds overnight, the resistance areas
that are broken should turn into resistance on the way up.
March 2010 SP futures resistance
symbols: emini = esh0 / big contract =sph0
1106.75
1107.50-1108.00
1110.50-1112.00
March 2010 SP futures support
symbols: emini = esh0 / big contract =sph0
1104.00
1100.00-1099.50
1098.25-1097.75
1093.75-1093.00
1089.00-1088.50
1086.75-1086.25
March 2010 Nasdaq futures resistance
symbols: emini = nqh0 / big contract = ndh0
1824.75
1826.50-1827.50
1832.00-1834.00
March 2010 Nasdaq futures support
symbols: emini = nqh0 / big contract = ndh0
1821.50
1815.00-1814.25
1811.50-1811.00
1803.25-1802.25
1795.25-1794.50
1792.50-1791.50
March 2010 Dow futures resistance
symbols: emini = ymh0
10385
10392-10397
10418-10424
March 2010 Dow futures support
symbols: emini = ymh0
10359
10325-10322
10299-10295
10257-10252
10204-10200
10182-10179
---------------------------
REMINDER:
Real Time subscribers can view these updates, and also get
real time instant messages, on the web at this site:
http://www.tradestalker.com/RBIchat.htm
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2010 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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