TradeStalker's RBI Update 09/15/08

.................................................

TradeStalker's

R.B.I. Trader's Update

9 / 15 / 2008

(Published Since 1996)

...............................................


Dateline: 7:03 pm eastern time, 9/15/2008

The market gapped down 45 points on the SP futures on Monday
and from the 1212.50-1211.50 support area, the market
rallied back. The SP futures reached 1239.00 which was at
the 1238-1239 resistance zone and the market turned back
down. After breaking the 1220 level, the SP futures
continued lower until bouncing off of 1215.25 and they
popped back to 1226.50 and then reversed. The selling off of
that high drove the SP futures down to 1201.25 with 30
minutes left in stock trading. The market reversed and short
covering mostly took the market back up. The SP futures
reached 1215.75 and backed off 6.50 points to 1209.25, and
then buying came back in. The SP futures tested the 1215.75
bounce high and then reversed and fell under the July low on
the way to a 1195.75 low before the close.

Some rare extremes occurred on Monday. The NYSE breadth was
horrible. There was just 174 advancing issues at the close.
Looking at my spreadsheet data back to 1994, that is the
lowest single day reading for advancing stocks in 15 years.
Other bad days with less than 400 advancing issues were:

SEPT 15, 2008 174
SEPT 9, 2008 394
MAR 6, 2008 356
MAY 7, 2004 266
MAY 10, 2004 351
APR 27, 1998 335
APR 11, 1997 394
JULY 5, 1996 315
APR 8, 1996 323
MAR 8, 1996 177

The problem, as far as looking for a market bottom goes, is
that the closing Trin wasn't even above 2.00, let alone
being over 3.00, which tends to occur when there is a panic
selloff. The only real plus from Monday's collapse was the
big jump made by the VIX. It jumped 23.5% to 31.70 on Monday
and closed over 31 for the first time since March 14, 2008,
which was just a day before a low was made.

As if the market wasn't volatile already, we get the Fed
decision on interest rate policy on Tuesday around 2:15 pm.
The futures closed well above fair value again on Monday, so
a bounce is priced into the open on Tuesday. The market
could snap back, but the downside has good momentum as
bounces are not sticking. So shorting the bounces will
likely offer the better opportunities until the market can
get turned back around. At the moment, it looks like a break
over the initial resistance will need to stick and hold on a
pullback, to turn the intraday trends back up. If the market
rallies back to the initial resistance areas early on
Tuesday and the move stalls out, then it sets up a shorting
opportunity for the early going. After the Fed release,
there tends to be 15-25 minutes of gyrations in both
directions, and then a trend develops. If that action works
out, the trend should be one to ride into the last 30
minutes or so of trading.

The initial resistance is at the 1215.25-1216.00 area on the
SP futures and the 1737.00-1738.00 area on the Nasdaq
futures. Those areas must be exceeded and not quickly
reversed, to put some cushion under the market. The market
is vulnerable unless those are cleared and held. If the
market doesn't reverse from those areas, then it would open
the door for a rally towards the 1225.50-1226.00 area on the
SP futures and the 1745.75-1747.25 area on the Nasdaq
futures. If those areas are reached and the market doesn't
back off, then the key hurdles would be at the 1232.50-
1233.00 area on the SP futures and the 1758.75-1760.75 area
on the Nasdaq futures. The market will need to get back over
those areas and not get reversed again to begin to think
that a low, short term anyway, could be in place.

The initial support is at the 1195.00-1194.50 area on the SP
futures and the 1718.00-1717.00 area on the Nasdaq futures.
If those areas are not quickly reversed, then a drop towards
the 1188.00-1187.50 area on the SP futures and the 1711.50-
1710.50 area on the Nasdaq futures will likely be seen
before any turn around attempt occurs. If that doesn't
happen and the market keeps falling, then we should see some
support at the 1182.50-1182.00 area on the SP futures and
the 1702.00-1699.75 area on the Nasdaq futures. If the bulls
cannot get the market turned around from there, then we will
likely test major support down at the 1173-1172 area on the
SP futures. If the market gets down there and cannot quickly
reverse, then the market can get a hit with some panic
selling and head towards the 1164-1162 area on the SP
futures. If that zone is broken, and the market doesn't
quickly reverse, then we could see a repeat of Monday's big
selloff occur.



December 2008 SP futures resistance
symbols: emini = esz8 / big contract =spz8

1215.25-1216.00
1225.50-1226.00
1232.50-1233.00


December 2008 SP futures support
symbols: emini = esz8 / big contract =spz8

1195.00-1194.50
1188.00-1187.50
1182.50-1182.00
1173.00-1172.00
1164.00-1162.00


December 2008 Nasdaq futures resistance
symbols: emini = nqz8 / big contract = ndz8

1737.00-1738.00
1745.75-1747.25
1758.75-1760.75


December 2008 Nasdaq futures support
symbols: emini = nqz8 / big contract = ndz8

1718.00-1717.00
1711.50-1710.50
1702.00-1699.75


December 2008 Dow futures resistance
symbols: emini = ymz8

11090-11100
1142-11148
11200-11206


December 2008 Dow futures support
symbols: emini = ymz8

10927-10922
10876-10870
10822-10816


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

REMINDER:

Real Time subscribers can view these updates on
the web at this site:

http://www.tradestalker.com/members


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


Good Trading,
Mike Reed

Copyright (c) 2008 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.

www.TradeStalker.com

PO Box 9783, Ft Wayne, IN, 46899

Disclaimer

The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.

We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************

TradeStalker's RBI Update 09/14/08 - ADDITION

.................................................

TradeStalker's

R.B.I. Trader's Update

09 / 14 / 2008

Additional Update

...............................................


Dateline: 8:01pm eastern time, es8z= 1227 nq8z= 1740

The Lehman situation wasn't settled over the weekend
and the futures are down big as this is being typed. At
the moment it looks like a test of last week's lows is
likely. If the market can reverse back to the upside in
the first 20 minutes or so from under 1220 on the ES,
then a trade on the long side could give a decent run
up. The first rally that then stalls out should set up a
better shorting opportunity. The 1240 area on the ES
should offer pretty good resistance if the downside
pressure is still on.

Resistance is at 1233.25, then the 1238.00-1239.00
area, and then good resistance near the 1244.00-
1244.50 area on the ES

Look for some support near 1218.00-1217.50, then
the 1212.25-1211.50 area, and then possibly the
1201-1200 area on the ES.

Copyright (c) 2008 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.

www.TradeStalker.com

PO Box 9783, Ft Wayne, IN, 46899

Disclaimer

The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.

We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************

TradeStalker's RBI Update 09/14/08

.................................................

TradeStalker's

R.B.I. Trader's Update

9 / 14 / 2008

(Published Since 1996)

...............................................


Dateline: 5:17 pm eastern time, 9/14/2008


The market opened lower on Friday and well below the
Thursday closes, but buyers stepped to the plate after about
20 minutes of trading and the market went into rally mode.
The move found trouble at the 1255.50-1256.00 area on SP
futures and just under the 1785.50-1787.00 resistance area
on Nasdaq futures, and off of a 1256.50 high on the SP
futures, a pullback followed. The updated support at 1248.00
was reached and the market bounced back, but after some
churning that 1248.00 level was broken and the downside
reasserted itself. A drop to 1240.75 was bought and the
market bounced back to the areas from where the breakdown
started. That move was sold and the SP futures pulled back
5.75 points and then bounced back to 1256.50 resistance. A
little 1-2-3 top formed and the SP futures dropped 10 points
to 1246.25 with 20 minutes left in the trading day. The
market showed its resiliency by turning back up and rallying
to a new high at 1259.00 just before settlement.

The SP futures settled more than 5 points over fair value on
Friday, so the market has an early rally priced in if that
holds. The sentiment is getting overly bearish, even with
the market closing at its highs the last 2 days of last
week. We get the Fed decision on interest rate policy on
Tuesday of this week. That day will likely be the key day
this week as the market recovers from a drop to 1212.50 on
the SP futures and 1720.75 on the Nasdaq futures last week.

The intraday chart on the SP500 cash and futures is still in
a big wedge pattern. If that breaks, then the market could
cave in rather easily. At the moment, the top of the wedge
is near the initial resistance area and the bottom side is
near the initial support area. If there is sustained trading
below the initial support then the market could be back
under pressure. However, as long as that support isn't
broken and held, the bulls will still be in control.

The initial resistance is at the 1260.50-1261.00 area on the
SP futures and the 1782.50-1784.50 area on the Nasdaq
futures. If those are not a problem, then the 1266.00-
1267.00 area on the SP futures and the 1792.50-1794.50 area
on the Nasdaq futures would be the next hurdles to clear. If
the market gets up there and doesn't stop, then we could go
for the 1272.00-1272.50 area on the SP futures and the
1801.50-1803.00 area on the Nasdaq futures.

The initial support is at the 1246.50-1246.00 area on the SP
futures and the 1767.00-1766.50 area on the Nasdaq futures.
If the market doesn't quickly turn back up from those areas,
then the market could be rolling over. The next support is
at the 1240.75-1240.00 area on the SP futures and the
1756.25-1754.75 area on the Nasdaq futures. If those areas
are not quickly reversed, then the 1231.50-1231.00 area on
the SP futures and the 1746.50-1745.50 area on the Nasdaq
futures is a key support area for each index and will need
to hold to avoid trouble.



December 2008 SP futures resistance
symbols: emini = esz8 / big contract =spz8

1260.50-1261.00
1266.00-1267.00
1272.00-1272.50


December 2008 SP futures support
symbols: emini = esz8 / big contract =spz8

1246.50-1246.00
1240.75-1240.00
1231.50-1231.00


December 2008 Nasdaq futures resistance
symbols: emini = nqz8 / big contract = ndz8

1782.50-1784.50
1792.50-1794.50
1801.50-1803.00


December 2008 Nasdaq futures support
symbols: emini = nqz8 / big contract = ndz8

1767.00-1766.50
1756.25-1754.75
1746.50-1745.50


December 2008 Dow futures resistance
symbols: emini = ymz8

11474-11479
11521-11528
11572-11577


December 2008 Dow futures support
symbols: emini = ymz8

11352-11348
11308-11303
11242-11238


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

REMINDER:

Real Time subscribers can view these updates on
the web at this site:

http://www.tradestalker.com/members


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


Good Trading,
Mike Reed

Copyright (c) 2008 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.

www.TradeStalker.com

PO Box 9783, Ft Wayne, IN, 46899

Disclaimer

The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.

We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************

TradeStalker's RBI Update 09/11/08

.................................................

TradeStalker's

R.B.I. Trader's Update

9 / 11 / 2008

(Published Since 1996)

...............................................


Dateline: 7:02 pm eastern time, 9/11/2008

Are you looking for accurate support and resistance
levels...both nightly (fixed) and intra-day (dynamic)? Get
them from a 25+ year veteran trader ! Click Here for
Details.

The market gapped down on the open on Thursday and after
about 10 minutes of trading the SP futures nailed the
1212.50-1211.50 support zone on the December SP futures and
the move reversed. A stair-step higher took the SP futures
up to 1238.50, which was half of a point over the 1238.00
resistance, and the move reversed. The pullback to the
1223.00 support held and the market ran up to new highs. The
SP futures reversed off of 1243.25, but after a 12.25 point
drop to 1231.00, buyers stepped to the plate in the last 30
minutes and the SP went parabolic as they ran up to 1254.00
(which was just shy of the last resistance at the 1255-1256
area) just before the close.

I guess the question is "did the market make a bottom, or is
this another bounce to short?" The market finally had an
impressive rally, as the low was made in the first 15
minutes of trading and the high was made in the last 15
minutes of trading. On the other side of the coin, the
market did close at a decent resistance area on Thursday.
The internals were poor for a reversal day and the low
closing Trin at .42 is usually a sign of an exhausted move
that tends to be reversed. In other words, it would be like
having a closing Trin at 2.38 if the calculation is
reversed.

We get the PPI and the Retail Sales data before the open on
Friday, and the Michigan Sentiment survey 30 minutes into
the trading day. This move could go for another day or so,
but the theme should be to expect more volatility. Trend
days are often times followed by back and forth, two-sided
action the following day. That should be expected on Friday.

Look for a shorting opportunity if there is an early pop
that stalls/ reverses, especially if the move reverses from
the initial resistance areas. If that plays out, then take
cover on shorts and look for a buying opportunity if/when
the first decent pullback stalls out. That first pullback
should hold near the initial support areas, otherwise the
early high might be a top as the market begins trading in a
big range.

The initial resistance is at the 1255.50-1256.00 area on the
SP futures and the 1785.50-1787.00 area on the Nasdaq
futures. If those are not a problem, then the next hurdles
would be at the 1260.25-1261.25 area on the SP futures and
the 1793.50-1794.50 area on the Nasdaq futures. If the
market doesn't have a problem at those areas, then there
should be some resistance near the 1266.00-1266.50 area on
the SP futures and the 1798.00-1799.00 area on the Nasdaq
futures. If those are exceeded, then the door would be open
for a move towards the 1273.50-1274.50 area on the SP
futures and/or the 1810.50-1812.00 area on the Nasdaq
futures.

The initial support is at the 1243.00-1242.00 area on the SP
futures and the 1773.00-1771.50 area on the Nasdaq futures.
If those areas are not held, then the next bounce would
likely set up a shorting opportunity as an early high could
be in place. The next support is at the lows made in the
last 30 minutes on Thursday, at the 1231.50-1231.00 area on
the SP futures and the 1758.50-1757.75 area on the Nasdaq
futures. If there is sustained trading under those areas,
especially on the SP futures, then it will open the door for
a drop towards the 1223.50-1223.00 area on the SP futures
and the 1746.50-1745.50 area on the Nasdaq futures. If those
areas are broken and the market cannot bounce right back,
then the 1212.50-1211.50 area should be tested again. If the
market does get hit and those areas are broken, it would
begin a nose-dive towards the 1200 level on the SP500 cash.

December 2008 SP futures resistance
symbols: emini = esz8 / big contract =spz8

1255.50-1256.00
1260.25-1261.25
1266.00-1266.50
1273.50-1274.50


December 2008 SP futures support
symbols: emini = esz8 / big contract =spz8

1243.00-1242.00
1231.50-1231.00
1223.50-1223.00
1212.50-1211.50
1200 {SP500 cash}


December 2008 Nasdaq futures resistance
symbols: emini = nqz8 / big contract = ndz8

1785.50-1787.00
1793.50-1794.50
1798.00-1799.00
1810.50-1812.00


December 2008 Nasdaq futures support
symbols: emini = nqz8 / big contract = ndz8

1773.00-1771.50
1758.50-1757.75
1746.50-1745.50


December 2008 Dow futures resistance
symbols: emini = ymz8

11462-11468
11504-11509
11560-11565
11638-11643


December 2008 Dow futures support
symbols: emini = ymz8

11356-11352
11242-11238
11167-11163


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

REMINDER:

Real Time subscribers can view these updates on
the web at this site:

http://www.tradestalker.com/members


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


Good Trading,
Mike Reed

Copyright (c) 2008 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.

www.TradeStalker.com

PO Box 9783, Ft Wayne, IN, 46899

Disclaimer

The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.

We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************

TradeStalker's RBI Update 09/10/08

.................................................

TradeStalker's

R.B.I. Trader's Update

9 / 10 / 2008

(Published Since 1996)

...............................................


Dateline: 7:02 pm eastern time, 9/10/2008


The market popped up on the open on Wednesday and the SP
futures dropped 7.25 points from 1234.25 to 1227.00 quickly.
Just as quick, the market then reversed back to the upside.
The move stalled out after reaching 1237.50 on the SP
futures and the market began to sell off. The selling lasted
until dropping to 1221.50 on the SP futures shortly before
noon, and then the market spiked higher. The first bounce
was turned back at the 1234.50 resistance, but the pullback
held and the market popped back to a higher high. Another
pullback held just above the 1229.00 support and turned back
up. After thrashing around, the market finally sprinted
higher shortly after 2 pm. The SP futures rallied to 1244.00
(just under the 1244.50-1245.00 resistance) while the Nasdaq
futures reached 1755.75 before pulling back. After the dip,
the SP and Nasdaq futures made double tops and reversed. Off
of the 1244.75 high on the SP futures, they dropped down to
1229.75 and then bounced into the close.

We roll over to the December futures contracts on Thursday
morning. The new symbols are ES Z8 for the E-mini SP futures
and NQ Z8 for the mini Nasdaq futures. Due to time
constraints I am no longer giving numbers for the Russell
futures.

We get the Initial Claims data before the open on Thursday.
The market failed to hold its gains on Thursday so that
resistance at Wednesday's highs is important short term. The
market acts like it is still in trouble and that the rally
was just a respite from the big downer on Tuesday. The short
side on bounces that fail under the 1245.00-1245.50 area on
the SP futures and also the 1761.25-1262.00 area on the
Nasdaq futures should offer the better set-ups on Thursday.

Look for resistance at the 1237.50-1238.00 area on the SP
futures and the 1752.00-1753.00 area on the Nasdaq futures.
If those are not a problem, then a run towards the 1245.00-
1245.50 area on the SP futures and the 1761.25-1262.00 area
on the Nasdaq futures will be a key test of the markets
strength, or lack thereof. If the market rallies through
those areas without any trouble, then a move towards the
1255.50-1256.00 area on the SP futures and the 1772.50-
1774.00 area on the Nasdaq futures could be in the cards.

The initial support is at the 1231.00-1230.50 area on the SP
futures and the 1740.00-1739.00 area on the Nasdaq futures.
That area on the SP futures was held pretty good on
Wednesday and a break of that would likely mean that a high
is in place and the market has lower to go. The next support
would be at the 1223.00-1222.50 area on the SP futures and
the 1729.00-1728.00 area on the Nasdaq futures. If the
market doesn't reverse from down there, then we could go
towards the 1218.00-1217.50 area on the SP futures and the
1720.50-1718.50 area on the Nasdaq futures and then
potentially reverse. If there is no reversal, then we will
likely see the 1212.50-1211.50 zone and possibly the 1200.75
level if things get ugly again.

December 2008 SP futures resistance
symbols: emini = esz8 / big contract =spz8

1237.50-1238.00
1245.00-1245.50
1255.50-1256.00


December 2008 SP futures support
symbols: emini = esz8 / big contract =spz8

1231.00-1230.50
1223.00-1222.50
1218.00-1217.50
1212.50-1211.50
1200.75


December 2008 Nasdaq futures resistance
symbols: emini = nqz8 / big contract = ndz8

1752.00-1753.00
1761.25-1262.00
1772.50-1774.00


December 2008 Nasdaq futures support
symbols: emini = nqz8 / big contract = ndz8

1740.00-1739.00
1729.00-1728.00
1720.50-1718.50


December 2008 Dow futures resistance
symbols: emini = ymz8

11309-11315
11373-11377
11450-11453


December 2008 Dow futures support
symbols: emini = ymz8

11247-11242
11213-11209
11164-11159


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

REMINDER:

Real Time subscribers can view these updates on
the web at this site:

http://www.tradestalker.com/members


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


Good Trading,
Mike Reed

Copyright (c) 2008 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.

www.TradeStalker.com

PO Box 9783, Ft Wayne, IN, 46899

Disclaimer

The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.

We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************

TradeStalker's RBI Update 09/09/08

.................................................

TradeStalker's

R.B.I. Trader's Update

9 / 9 / 2008

(Published Since 1996)

...............................................


Dateline: 6:19 pm eastern time, 9/9/2008


After a flat open the market dropped and the first pullback
was bought. The bounce was sold as the Monday closes were
tested, and the SP futures sold off to the 1247.00-1246.50
key support zone. A bounce off of that zone stalled and sold
off from the updated 1254.50 level, and the lows were then
tested. Another bounce to test the 1254.50 level also
stalled and reversed, and the market broke through the key
support. That brought in more selling as the SP futures fell
to the 1234.50-1232.50 band of support with about an hour
left in trading. The bounce off the 1232.50 level tagging
the 20 period ema on the 5 minute chart at 1238.75 and
reversed, brining in more the selling that took the averages
to new lows for the day at the close. The SP and Nasdaq
futures made lows at 1223.50 and 1720.75 and then firmed up
to settle a few points over fair value.

On Wednesday look for an early pop to set up a shorting
opportunity. If there is early weakness instead, then look
for the move to be reversed to set up a trade on the long
side. Just don't fall in love with that side, as the bounces
that stall out should still set up better shorting
opportunities. The big resistance is now at the 1254.00-
1254.50 area on the SP futures, which would put the market
in neutral territory, so beware of another reversal if the
market gets that far on a rally attempt.

The initial resistance is at the 1228.00-1228.50 area on the
SP futures and 1734.50-1735.25 area on the Nasdaq futures.
If the market is still very weak, then those areas will turn
the market back down. However, those are exceeded, then the
market could begin a rally. There should be some resistance
at the 1238.50 level on the SP futures and 1742.50 level on
the Nasdaq futures. If those are cleared then there should
be strong resistance near the 1244.50-1245.00 area on the SP
futures and 1746.00-1747.00 area on the Nasdaq futures. If
the market gets back up there, and the move stalls out, be
alert for a reversal. However, if the market puts together a
rally that doesn't have trouble at those areas, then the
door is open for a test of the 1254.00-1254.50 area on the
SP futures and 1764.50-1765.50 area on the Nasdaq futures.

The initial support is at the 1224.00-1223.50 area on the SP
futures and 1722.00-1720.75 area on the Nasdaq futures. If
those areas a broken, and not quickly reversed, then a test
of the 1217.00-1216.50 area on the SP futures and 1712.50-
1710.75 area on the Nasdaq futures is probably in the cards.
If the market can not hold those areas, then a drop to the
1212.50-1211.50 area on the SP futures would need to hold.
If buyers can not get a reversal going from that zone, then
all that would be in the way of a complete test of the July
low would at the 1208.00-1207.50 area on the SP futures. If
broken, then that 1200.75 level on the SP futures should be
seen. If there is not a big double bottom made, then a slide
towards the 1186.00-1184.00 area on the SP futures is likely
in the cards before the market gets itself turned back up.


September 2008 SP futures resistance
symbols: emini = esu8 / big contract =spu8

1228.00-1228.50
1238.50
1244.50-1245.00
1254.00-1254.50

September 2008 SP futures support
symbols: emini = esu8 / big contract =spu8

1224.00-1223.50
1217.00-1216.50 - KEY
1212.50-1211.50
1208.00-1207.50
1200.75 - MAJOR
1186.00-1184.00 - Next target if melt-down is in gear

September 2008 Nasdaq futures resistance
symbols: emini = nqu8 / big contract = ndu8

1734.50-1735.25
1742.50
1746.00-1747.00
1764.50-1765.50

September 2008 Nasdaq futures support
symbols: emini = nqu8 / big contract = ndu8

1722.00-1720.75
1712.50-1710.75

September 2008 Dow futures resistance
symbols: emini = ymu8

11261-11265
11357
11382-11387
11459-11463

September 2008 Dow futures support
symbols: emini = ymu8

11230-11225
11162-11157

September 2008 Russell futures resistance
symbols: emini = er2u8 / big contract = er2u8

711.20-711.60
716.20
722.90-723.40
726.80-727.40

September 2008 Russell futures support
symbols: emini = er2u8 / big contract = er2u8

707.20-706.70
702.20-701.80

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

REMINDER:

Real Time subscribers can view these updates on
the web at this site:

http://www.tradestalker.com/members


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


Good Trading,
Mike Reed

Copyright (c) 2008 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.

www.TradeStalker.com

PO Box 9783, Ft Wayne, IN, 46899

Disclaimer

The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.

We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************

TradeStalker's RBI Update 09/08/08

.................................................

TradeStalker's

R.B.I. Trader's Update

9 / 8 / 2008

(Published Since 1996)

...............................................


Dateline: 6:16 pm eastern time, 9/8/2008


The big gap up open on Monday (35 points on the SP futures)
was in the 1276.50-1277.00 zone but after a brief poke to
1278.50 the move was sold and the market began a decent
selloff. The SP futures spiked down to 1250.50 and then
bounced back up to 1265.00 in a very fast back and forth
move, and then the market sold off to new lows by noon. The
SP futures bounced from 1246.75 to 1259.75 and the move
stalled out and prices rolled over. The market went down and
tested its lows, and the test was passed as the market
caught a bid and bounced back. The move had trouble at the
1260 area on the SP futures and the 1760 area on the Nasdaq
futures, as they reversed from 1260.25 and 1760.50,
respectively. They then pulled back to the 1251.75 and
1746.00 levels and then they quickly reversed. The SP and
Nasdaq futures both pushed through that resistance and then
continued another 10 points higher before the close.

The market opened on its highs and after playing some give
back, the market ended the day on an up note. On Tuesday
look for the "sell early strength, buy the first decent
pullback" pattern to play out. It looks like the 1260.25-
1259.75 area on the SP futures could be pivotal. If the
market is going to stair-step higher, then that area will
need to hold on a pullback. Also, keep an eye on the weaker
Nasdaq futures on Tuesday. Some relative strength is needed
there soon, otherwise this bounce will not be sustainable.

The initial resistance is at the 1271.75-1272.50 area on the
SP futures and the 1783.50-1784.50 area on the Nasdaq
futures. If those are cleared, then the door is open for a
rally towards the 1278.50-1279.25 area on the SP futures and
the 1796.25-1797.25 area on the Nasdaq futures. If the
market gets up there and the move doesn't stall and/or
reverse, then the move could extend to the next decent
resistance at the 1282.50-1283.00 area on the SP futures and
the 1802.50-1804.00 area on the Nasdaq futures.

The initial support is at the 1264.25-1263.75 area on the SP
futures and the 1760.50-1760.00 area on the Nasdaq futures.
If those do not hold, then it's a heads-up for a drop
towards the 1260.25-1259.75 area on the SP futures and the
1755.00-1754.25 area on the Nasdaq futures. If the market is
changing from bearish back to bullish, then those areas
should hold on a pullback. If those are tested and cannot
turn back up, then the door would be open for a drop towards
the 1252.00-1251.50 area on the SP futures and the 1748.25-
1747.50 area on the Nasdaq futures. If those areas are not
able to hold, then we will likely go down to the 1247.00-
1246.50 area on the SP futures and the 1736.00-1735.25 area
on the Nasdaq futures. The market made a good double bottom
there on Monday. If those are broken, then the 1245.25 gap
on the daily chart should be a magnet, and potential
reversal spot. If that occurs, the gap on the daily chart
would be filled, just when those selling the break of the
Monday low take a position. If the market gets there and
then reverses back up, it could give a good rally. If 1245
on the SP futures is reached and the market doesn't quickly
reverse, then we could head back towards the 1240.25-1239.75
area on the SP futures. If that area doesn't hold, then a
test of the 1234.50-1232.50 zone could be in the cards.

September 2008 SP futures resistance
symbols: emini = esu8 / big contract =spu8

1271.75-1272.50
1278.50-1279.25
1282.50-1283.00


September 2008 SP futures support
symbols: emini = esu8 / big contract =spu8

1264.25-1263.75
1260.25-1259.75
1252.00-1251.50
1247.00-1246.50
1245.00
1240.25-1239.75
1234.50-1232.50


September 2008 Nasdaq futures resistance
symbols: emini = nqu8 / big contract = ndu8

1783.50-1784.50
1796.25-1797.25
1802.50-1804.00


September 2008 Nasdaq futures support
symbols: emini = nqu8 / big contract = ndu8

1760.50-1760.00
1755.00-1754.25
1748.25-1747.50
1736.00-1735.25


September 2008 Dow futures resistance
symbols: emini = ymu8

11531-11534
11579-11584
11619-11624


September 2008 Dow futures support
symbols: emini = ymu8

11486-11483
11439-11436
11373-11368
11325-11319


September 2008 Russell futures resistance
symbols: emini = er2u8 / big contract = er2u8

736.20-736.50
743.70-744.50
747.20-747.80


September 2008 Russell futures support
symbols: emini = er2u8 / big contract = er2u8

731.60-731.30
728.40-727.80
722.90-722.60
719.00-718.60


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

REMINDER:

Real Time subscribers can view these updates on
the web at this site:

http://www.tradestalker.com/members


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


Good Trading,
Mike Reed

Copyright (c) 2008 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.

www.TradeStalker.com

PO Box 9783, Ft Wayne, IN, 46899

Disclaimer

The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.

We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************

TradeStalker's RBI Update 09/07/08 - PRE-MARKET UPDATE

.................................................

TradeStalker's

R.B.I. Trader's Update

09 / 7 / 2008

Pre-Open Update

...............................................


Dateline: 7:03 eastern time, es8u= 1270 nq8u= 1806.5

The market is going to have a big gap up open if this
strength holds overnight. The ES is up 29 points at
1270.00 as this is typed. There should be some
resistance near the 1276.00-1277.00 area on the ES
and the 1813.50-1814.75 area on the NQ. If this move
stalls near those areas, then it should set up a shorting
opportunity. However, if those are exceeded, then the
1280.75-1281.25 area on the ES and 1819.50-
1820.50 area on the NQ could be seen. A pullback
should hold 1261.50-1261.00 on the ES. If that is
broken, then the 1254.00-1253.00 area is a key
support area.


Copyright (c) 2008 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.

www.TradeStalker.com

PO Box 9783, Ft Wayne, IN, 46899

Disclaimer

The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.

We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************

TradeStalker's RBI Update 09/07/08

.................................................

TradeStalker's

R.B.I. Trader's Update

9 / 7 / 2008

(Published Since 1996)

...............................................


Dateline: 5:54 pm eastern time, 9/7/2008


The market gapped down on Friday's Jobs numbers and it was
downhill for the first 90 minutes of trading. The SP futures
reached 1216.50 while the Nasdaq futures held at its
1741.50-1738.50 support zone and the market turned back up.
By early afternoon the gaps were filled on the daily charts,
and the market pulled back. The 1231.00 level on the SP
futures was a floor and unable to break down per usual of
late, buying came back in and took the market to new highs
for the day in the last 90 minutes of trading. The Nasdaq
futures made their high before 3 pm at 1780.50, while the SP
futures went to the 1245.00-1245.75 resistance zone before
dropping into the close.

That was a nice comeback in the Blue Chips, but the Nasdaq
averages still finished in the red on Friday. The VIX
reversed from a short term extreme, and the buy signals
might be enough to hold the market up short term. Even if
there is a bit more upside coming, the Friday lows will
likely be tested or broken before a sustainable rally
occurs.

On Monday the initial support must hold to avoid a reversal
and turn the intraday trends back down. Look to short early
strength as soon as the move fizzles. A pop up to test the
Friday highs that reverses would set up a shorting
opportunity. If that plays out, then the first decent
pullback should set up a buying opportunity if the initial
support can hold. If the 1236.50-1236.00 area on the SP
futures doesn't hold, then the 1231.00-1230.50 area would
need to have buyers step to the plate, otherwise there is
another sizable selloff coming.

The initial resistance is at the 1245.00-1245.75 area on the
SP futures and the 1779.00-1780.50 area on the Nasdaq
futures. If those are easily exceeded and not quickly
reversed, then the 1252.50-1253.25 area on the SP futures
and the 1792.00-1793.00 area on the Nasdaq futures would be
the next hurdles to get over. A rally should fail at or
below those areas if the market is still in a fragile mood.
If those are reached and not rejected, then the market could
"revisit the scene of the crime" and test the 1261.50-
1262.50 area on the SP futures and/or the 1812.50-1814.00
area on the Nasdaq futures. Those should be difficult to get
through unless the market has an outside influence kick the
upside in gear.

The initial support is at the 1236.50-1236.00 area on the SP
futures and the 1766.50-1766.00 area on the Nasdaq futures.
Those areas were pivotal on Friday afternoon and a pullback
should hold at those areas if it is going to avoid a sharper
drop. If those areas are broken, then it would open the door
for a drop towards the 1231.00 level on the SP futures and
the 1761.25 level on the Nasdaq futures. If those levels
cannot hold or quickly reverse if broken, then the 1226.50-
1226.00 area on the SP futures and the 1752.00-1750.50 area
on the Nasdaq futures would be next. If the market cannot
reverse from those areas, then a test of the 1217.00-1216.00
area on the SP futures and the 1741.50-1738.50 area on the
Nasdaq futures is in the cards and would need to hold to
avoid another big down day.

September 2008 SP futures resistance
symbols: emini = esu8 / big contract =spu8

1245.00-1245.75
1252.50-1253.25
1261.50-1262.50


September 2008 SP futures support
symbols: emini = esu8 / big contract =spu8

1236.50-1236.00
1231.00
1226.50-1226.00
1217.00-1216.00


September 2008 Nasdaq futures resistance
symbols: emini = nqu8 / big contract = ndu8

1779.00-1780.50
1792.00-1793.00
1812.50-1814.00


September 2008 Nasdaq futures support
symbols: emini = nqu8 / big contract = ndu8

1766.50-1766.00
1761.25
1752.00-1750.50
1741.50-1738.50


September 2008 Dow futures resistance
symbols: emini = ymu8

11247-11252
11313-11319
11397-11402


September 2008 Dow futures support
symbols: emini = ymu8

11187-11184
11152
11123-11118
11040-11034


September 2008 Russell futures resistance
symbols: emini = er2u8 / big contract = er2u8

722.10-722.40
726.50-727.10
731.60-732.10


September 2008 Russell futures support
symbols: emini = er2u8 / big contract = er2u8

716.20-716.00
712.80
706.70-706.30
702.20-701.80


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

REMINDER:

Real Time subscribers can view these updates on
the web at this site:

http://www.tradestalker.com/members


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


Good Trading,
Mike Reed

Copyright (c) 2008 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.

www.TradeStalker.com

PO Box 9783, Ft Wayne, IN, 46899

Disclaimer

The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.

We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************

TradeStalker's RBI Update 09/04/08

.................................................

TradeStalker's

R.B.I. Trader's Update

9 / 4 / 2008

(Published Since 1996)

...............................................


Dateline: 6:17 pm eastern time, 9/4/2008

The market opened lower on Thursday and under the key
support that was at the Wednesday lows. There was a quick
reversal off of the 1262.50-1261.50 support zone on the SP
futures, but the bounce from 1261.50 to 1268.00 fizzled and
the downside reasserted itself. As it was noted last night:

"...if the Wednesday low areas are not able to hold,
then we could see a pretty good drop as stops gets
triggered"

That was the case and it was reiterated at 10:41 am when I
wrote "a collapse is likely". It was basically trend-down
into 2 pm, as the 20 period ema on the 5 minute chart and
the 5 and 15 period sma's on the 13 minute charts acted as
dynamic resistance most of the day. After getting to 1236.75
on the SP futures, the market made a feeble bounce. The SP
futures poked over the 1244.75 level for about 10 seconds
before turning right back down, and after some churning the
market rolled over and made new lows (with the SP futures
reaching the 1235.00-1234.50 zone) in the final minutes of
trading.

We get the Jobs number before the open on Friday. It
probably won't matter unless there is something very
unexpected reported. The market can not hold on to a rally,
and the break-out under the 1266 level on the SP500 cash and
futures is a negative. Unless there is a move over the
initial resistance areas, that isn't quickly reversed again,
the bounces will set up good shorting opportunities as soon
as the upside fizzles. A break and hold over the initial
resistance will be necessary to get a decent bounce going.

On Friday look for shorting opportunities on the rallies
that stall/reverse. The trends and momentum are pointing
lower, so don't fight the trend. It will take a close back
over the 1266 level to change things short term, so even a
good one day rally will likely set up a good shorting
opportunity. A break and hold over the initial resistance
areas would be a plus, very short term. However, a move over
those areas that then breaks back down through them would be
a fake-out and start another drop. A crashette type of drop
could occur under the current conditions.

The initial resistance is at the 1245.00-1245.75 area on the
SP futures and 1792.00-1793.00 area on the Nasdaq futures.
If those areas are reached, and the move stalls out, it's a
shorting opportunity with a pretty tight stop. If those are
not a problem, then the next hurdles are at the 1252.25-
1252.75 area on the SP futures and 1812.50-1814.00 area on
the Nasdaq futures. That is as far as a bounce should go if
the market is going to revisit the lows soon. If those areas
are both exceeded, and the market doesn't reverse, then a
move towards the 1261.50-1262.50 area on the SP futures and
1822.75-1824.00 area on the Nasdaq futures could be in the
cards.

The initial support is at the 1235.00-1234.50 area on the SP
futures and 1773.50-1772.50 area on the Nasdaq futures. If
those are broken, then there is minor support at the
1230.00-1229.50 area on the SP futures and 1766.75-1765.50
area on the Nasdaq futures. There should be better support
at the 1225.00-1224.50 area on the SP futures and 1758.50-
1757.50 area on the Nasdaq futures. If the market can not
hold those areas, then a slide towards the 1214.00-1212.50
area on the SP futures and 1741.50-1738.50 area on the
Nasdaq futures is in the cards. If the downside snowballs,
the drop could test the 1200.75 level on the SP futures. If
that happens, and 1200 doesn't hold, then we will likely see
the 1184-1182 area on the SP futures reached on this leg
down.


September 2008 SP futures resistance
symbols: emini = esu8 / big contract =spu8

1245.00-1245.75
1252.25-1252.75
1261.50-1262.50

September 2008 SP futures support
symbols: emini = esu8 / big contract =spu8

1235.00-1234.50
1230.00-1229.50
1225.00-1224.50
1214.00-1212.50 - key
1200.75
1184-1182 - a target for a low on this leg down


September 2008 Nasdaq futures resistance
symbols: emini = nqu8 / big contract = ndu8

1792.00-1793.00
1812.50-1814.00
1822.75-1824.00

September 2008 Nasdaq futures support
symbols: emini = nqu8 / big contract = ndu8

1773.50-1772.50
1766.75-1765.50
1758.50-1757.50
1741.50-1738.50

September 2008 Dow futures resistance
symbols: emini = ymu8

11265-11267
11320-11325
11397-11402

September 2008 Dow futures support
symbols: emini = ymu8

11182-11177
11135-11129
11108-11102
11007-10998

September 2008 Russell futures resistance
symbols: emini = er2u8 / big contract = er2u8

722.10-722.40
726.50-727.10
731.60-732.10

September 2008 Russell futures support
symbols: emini = er2u8 / big contract = er2u8

717.70-717.30
715.40-715.00
711.20-710.70
705.60-705.10

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

REMINDER:

Real Time subscribers can view these updates on
the web at this site:

http://www.tradestalker.com/members


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


Good Trading,
Mike Reed

Copyright (c) 2008 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.

www.TradeStalker.com

PO Box 9783, Ft Wayne, IN, 46899

Disclaimer

The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.

We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************

TradeStalker's RBI Update 09/03/08

.................................................

TradeStalker's

R.B.I. Trader's Update

9 / 3 / 2008

(Published Since 1996)

...............................................


Dateline: 7:16 pm eastern time, 9/3/2008

Learn how Mike Reed, a 25+ year veteran trader, finds his
nightly fixed support and resistance levels. Click here for
more details: http://www.tradestalker.com/RTGLive.htm

The market opened lower on Wednesday and the early weakness
was reversed. The SP futures poked into the 1272.00-1271.50
initial support zone and turned up, and the bounce took the
SP futures to 1280.00. The market went back and tested the
lows and another pop up to 1281.00 was quickly reversed. The
bounces were not holding and when the 1272.00-1271.50 zone
was broken, the downside continued until reaching 1265.50 on
the SP futures. A bounce back to 1272.75 on the SP futures
occurred as the Beige book release approached. The initial
reaction was to the downside, but the after the SP futures
reached 1268.50, the market reversed back to the upside and
bounced back to 1274.25 on the SP futures. The market ended
the day chopping around just above the 1266 level on the SP
futures and managed to get to 1276.50 before the close.

Since the Tuesday morning highs to Wednesday afternoon lows,
the SP futures lost 38 points while the Nasdaq futures lost
98 points. That was enough to get a bounce off of important
support on Wednesday. The market finally closed on an up
note, able to hold that important support area. This bounce
might last for a day or so, but at the moment the market
hasn't shown enough to say it's safe to jump in and be
aggressively long. It's been quite the opposite, in fact.

On Thursday look for the "sell early strength, buy the first
decent pullback" move in the early going. As long as the
first good pullback can hold at the Wednesday low areas,
then a rally from support is still possible. However, if the
Wednesday low areas are not able to hold, then we could see
a pretty good drop as stops gets triggered.

The first good resistance is at the 1279.50-1280.50 area on
the SP futures and the 1956.50-1957.50 area on the Nasdaq
futures. If those are reached and not quickly reversed, then
the next resistance is at the 1284.00-1284.50 area on the SP
futures and the 1867.50-1868.50 area on the Nasdaq futures.
If those are exceeded, then there should be very good
resistance at the 1288.50-1289.25 area on the SP futures and
the 1876.50-1877.50 area on the Nasdaq futures. That's as
far as a bounce should go before trouble sets in again. If
they do not turn the market back down, then we could see the
1291.50-1292.00 area on the SP futures

The initial support is at the 1272.50-1272.00 area on the SP
futures and the 1829.00-1828.25 area on the Nasdaq futures.
If those are broken, then it's a heads up that the 1266.50-
1265.50 area on the SP futures and the 1823.00-1821.50 area
on the Nasdaq futures could be tested. If those are reached
and buyers don't step to the plate, then an air-pocket type
of drop could occur. If that happens, the market would need
to hold at the 1262.50-1261.50 area on the SP futures and
the 1818.00-1816.50 area on the Nasdaq futures and reverse
back up through the 1266.50 area to avoid a sharp drop
lower. The 1258.00-1257.50 area on the SP futures and the
1808.50-1807.50 area on the Nasdaq futures would be minor
support that could cause a reversal if the move is a fake-
out.



September 2008 SP futures resistance
symbols: emini = esu8 / big contract =spu8

1279.50-1280.50
1284.00-1284.50
1288.50-1289.25
1291.50-1292.00


September 2008 SP futures support
symbols: emini = esu8 / big contract =spu8

1272.50-1272.00
1266.50-1265.50
1262.50-1261.50
1258.00-1257.50


September 2008 Nasdaq futures resistance
symbols: emini = nqu8 / big contract = ndu8

1956.50-1957.50
1867.50-1868.50
1876.50-1877.50


September 2008 Nasdaq futures support
symbols: emini = nqu8 / big contract = ndu8

1829.00-1828.25
1823.00-1821.50
1818.00-1816.50
1808.50-1807.50


September 2008 Dow futures resistance
symbols: emini = ymu8

11563-11569
11603-11611
11661-11666


September 2008 Dow futures support
symbols: emini = ymu8

11487-11483
11428-11420
11394-11388
11344-11340


September 2008 Russell futures resistance
symbols: emini = er2u8 / big contract = er2u8

743.60-744.00
747.80-748.20
751.80-752.30


September 2008 Russell futures support
symbols: emini = er2u8 / big contract = er2u8

740.00-739.70
736.60-736.10
732.90-732.20
725.40-725.00


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

REMINDER:

Real Time subscribers can view these updates on
the web at this site:

http://www.tradestalker.com/members


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


Good Trading,
Mike Reed

Copyright (c) 2008 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.

www.TradeStalker.com

PO Box 9783, Ft Wayne, IN, 46899

Disclaimer

The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.

We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************

TradeStalker's RBI Update 09/01/08

.................................................

TradeStalker's

R.B.I. Trader's Update

9 / 1 / 2008

(Published Since 1996)

...............................................


Dateline: 5:11 pm eastern time, 9/1/2008

Learn how Mike Reed, a 25+ year veteran trader, finds his
nightly fixed support and resistance levels. Click here for
more details: http://www.tradestalker.com/RTGLive.htm

After getting short on the Nasdaq on Thursday afternoon, the
market gave us a big down open on Friday. The market bounced
back to the Thursday closes and then reversed and resumed
the downtrends. Shortly after noon the SP futures reached
1284.00 while the Nasdaq futures found a bottom at 1867.50
and then an early afternoon bounce followed. The SP futures
made it to 1291.75 while the Nasdaq futures reached 1885.25
with about 90 minutes left in the trading day. A 1-2-3 top
formed on the SP futures and the market rolled over again
and sold off into the close. The SP futures made its low in
the 1281.50-1281.00 zone while the Nasdaq futures made a
higher low at 1870.50. While the cash indexes closed on
their lows, the futures firmed up a bit into the close.

The sideways trading range on the SP and Dow is being tested
on both sides. This pattern is usually a bearish pattern.
The 1266 level on the SP500 cash needs to be broken before a
sustainable move occurs on the downside. On the upside, the
SP500 will need to get over 1300 and not quickly reverse to
get a move going on the upside.

The market is just a day off of extremes on my internal
gauges and sentiment looks like it might overshoot on the
bearish side soon. On Tuesday, look for shorting
opportunities on a bounce that fails near the initial
resistance zones. It will take a break and hold over that
resistance to get the market out of the trouble it is in at
the moment. A quick trade on the long side would set up
if there is a lower open that reverses, but if this occurs
then
be prepared to cover and get short when the first bounce
fizzles.

The first hurdles are at the 1285.00-1285.75 area on the SP
futures and the 1880.50-1881.25 area on the Nasdaq futures.
The next resistance is at the 1291.25-1292.00 area on the
SP futures and the 1888.00-1889.00 area on the Nasdaq
futures. It would take a break over those areas that doesn't
quickly reverse to get out of danger short term. If the
market gets up there and doesn't reverse, then a pop towards
the 1298.00-1298.75 area on the SP futures and the 1901.50-
1903.25 area on the Nasdaq futures is likely. If the market
gets up there and isn't rejected, then a pop to the 1302.50-
1303.50 area on the SP futures and/or the 1915.50-1916.50
area on the Nasdaq futures is possible before a reversal. If
there is no reversal, then a short squeeze could push the SP
futures towards the 1307.50-1308.00 area.

The initial support is at the 1281.50-1281.00 area on the SP
futures and the 1871.00-1870.50 area on the Nasdaq futures.
If those areas are not defended, then the key support should
be at the 1277.00-1276.50 area on the SP futures and the
1865.50-1864.50 area on the Nasdaq futures. If the market
cannot reverse from those areas, then a spill towards the
1273.00-1272.50 area on the SP futures and the 1858.50-
1857.25 area on the Nasdaq futures is likely. If the market
cannot hold those areas, then the 1266 level on the SP500
cash (especially on a close) must be reversed to avoid a
panic selloff and potential crashette type dive lower.



September 2008 SP futures resistance
symbols: emini = esu8 / big contract =spu8

1285.00-1285.75
1291.25-1292.00
1298.00-1298.75
1302.50-1303.50
1307.50-1308.00


September 2008 SP futures support
symbols: emini = esu8 / big contract =spu8

1281.50-1281.00
1277.00-1276.50
1273.00-1272.50
1266 {SP500 cash}


September 2008 Nasdaq futures resistance
symbols: emini = nqu8 / big contract = ndu8

1880.50-1881.25
1888.00-1889.00
1901.50-1903.25
1915.50-1916.50


September 2008 Nasdaq futures support
symbols: emini = nqu8 / big contract = ndu8

1870.00-1869.50
1865.50-1864.50
1858.50-1857.25


September 2008 Dow futures resistance
symbols: emini = ymu8

11583-11587
11621-11624
11692-11697
11726-11731


September 2008 Dow futures support
symbols: emini = ymu8

11521-11517
11465-11462
11421-11417


September 2008 Russell futures resistance
symbols: emini = er2u8 / big contract = er2u8

738.90-739.30
742.10-742.50
746.10-746.50
750.30-750.60


September 2008 Russell futures support
symbols: emini = er2u8 / big contract = er2u8

736.50-736.10
733.80-733.40
728.60-727.50


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

REMINDER:

Real Time subscribers can view these updates on
the web at this site:

http://www.tradestalker.com/members


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


Good Trading,
Mike Reed

Copyright (c) 2008 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.

www.TradeStalker.com

PO Box 9783, Ft Wayne, IN, 46899

Disclaimer

The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.

We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************

TradeStalker's RBI Update 08/28/08

.................................................

TradeStalker's

R.B.I. Trader's Update

8 / 28 / 2008

(Published Since 1996)

...............................................


Dateline: 6:10 pm eastern time, 8/28/2008

Learn how Mike Reed, a 25+ year veteran trader, finds his
nightly fixed support and resistance levels. Click here for
more details: http://www.tradestalker.com/RTGLive.htm

The market gapped up on Thursday and rallied to 1293.50 on
the SP futures, and the key 1293.00-1294.00 area was
rejected. The SP futures dropped to 1288.75, and with the
1288.00 support holding, the market rallied through that
resistance and went to new highs for the day. The SP futures
reached 1298.00 and then backed off, but the pullback held
at old resistance by turning up from 1293.50. They bounced
back to 1298.75 and quickly reversed, and that pullback also
held at 1293.50. Another reversal back up took the SP
futures to 1299.00 while the Nasdaq futures moved back to a
lower high at 1921.50 with an hour left in stock trading.
The last hour was split between a strong SP futures and a
weak Nasdaq futures. They pulled back to 1295.50 and
1913.50, respectively, and then the SP futures rallied back
to 1300.00 while the Nasdaq futures popped to 1921.00. The
SP futures backed off only 3.50 points while the Nasdaq
futures dropped 17.75 points to a new low at 1903.25 before
settlement.

If you shorted the Nasdaq from the 1919 level or above, we
had a nice drop to give us 13 points profit at the close.
Lock in partial profits into early weakness and bring a stop
down to break-even on the remainder. If they fall to the
1895.50-1894.50 bring the stop down to 1911.25, at worst.

It is kind of a tough call to make, with the big divergence
between the SP and Nasdaq. It sure looks like a top on the
Nasdaq, as it had trouble most of the day while the blue
chips rallied nicely. Both the SP and Nasdaq futures settled
at discounts to their cash indexes, so early weakness was
priced in at Thursday's close. Many of my internal gauges
reached short term overbought extremes at Thursday's close
also. The weight of the evidence says the market should pull
back, and at best it will be difficult making much on the
upside from here. Shorting the bounces should offer the
better setups, even though it's end of month.

The initial resistance is at the 1302.50-1303.50 area on the
SP futures and the 1913.50-1914.00 area on the Nasdaq
futures. If those are reached, be on the lookout for a
reversal. If the market easily cuts through those areas,
then the next hurdles would be at the 1308.00-1308.50 area
on the SP futures and the 1922.50-1924.00 area on the Nasdaq
futures. If those are reached and there is not a reaction
and turn down, then we could see a rally up to the 1312.50-
1313.50 area on the SP futures and the 1931.00-1932.00 area
on the Nasdaq futures.

The initial support is at the 1294.00-1293.25 area on the SP
futures and the 1903.00-1902.25 area on the Nasdaq futures.
If those areas are not defended, then there should be some
good support near the 1288.50-1288.00 area on the SP futures
and the 1895.50-1894.50 area on the Nasdaq futures. If those
are broken, then the 1285.25-1284.75 area on the SP futures
and he 1888.50-1887.50 area on the Nasdaq futures should be
magnets. If the market gets down there, and cannot turn
around, then it will mean trouble and a trip to the 1281.50-
1281.00 is next, and if that doesn't hold then a drop
towards the 1277.00-1276.50 area on the SP futures would be
possible.

NOTE: There will not be any Intraday Updates after
noon on Friday. Enjoy your Labor Day Holiday. The
next regular update will be sent on Monday
evening, September 1st.

September 2008 SP futures resistance
symbols: emini = esu8 / big contract =spu8

1302.50-1303.50
1308.00-1308.50
1312.50-1313.50


September 2008 SP futures support
symbols: emini = esu8 / big contract =spu8

1294.00-1293.25
1288.50-1288.00
1285.25-1284.75
1281.50-1281.00
1277.00-1276.50


September 2008 Nasdaq futures resistance
symbols: emini = nqu8 / big contract = ndu8

1913.50-1914.00
1922.50-1924.00
1931.00-1932.00


September 2008 Nasdaq futures support
symbols: emini = nqu8 / big contract = ndu8

1903.00-1902.25
1895.50-1894.50
1888.50-1887.50


September 2008 Dow futures resistance
symbols: emini = ymu8

11726-11731
11781-11786


September 2008 Dow futures support
symbols: emini = ymu8

11665-11662
11629-11625
11563-11558


September 2008 Russell futures resistance
symbols: emini = er2u8 / big contract = er2u8

747.80-748.20
751.20-751.50


September 2008 Russell futures support
symbols: emini = er2u8 / big contract = er2u8

741.80-741.40
736.30-735.90
733.70-733.40


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

REMINDER:

Real Time subscribers can view these updates on
the web at this site:

http://www.tradestalker.com/members


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


Good Trading,
Mike Reed

Copyright (c) 2008 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.

www.TradeStalker.com

PO Box 9783, Ft Wayne, IN, 46899

Disclaimer

The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.

We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************

TradeStalker's RBI Update 08/27/08

.................................................

TradeStalker's

R.B.I. Trader's Update

8 / 27 / 2008

(Published Since 1996)

...............................................


Dateline: 6:15 pm eastern time, 8/27/2008

Learn how Mike Reed, a 25+ year veteran trader, finds his
nightly fixed support and resistance levels. Click here for
more details: http://www.tradestalker.com/RTGLive.htm

After a flat open on Wednesday, the SP futures popped up to
1275.75 and reversed. But after a 5.25 point pullback to
1269.50, good buying came in and the market sprinted higher.
The rally stalled and reversed from just under the 1280.50-
1281.00 resistance area, but the pullback undercut the
updated 1273.50 support by 1 tick before reversing and
rallying to new highs for the day. The SP futures reached
1285.25 which happened to be at the 1285.00-1285.50
resistance area and then pulled back to the 1280.50 updated
support. The market bounced off of the 1280.75 level and per
the 4th intraday update that pop back up to 1283.75 reversed
and set up a good shorting opportunity. The SP futures
dropped to 1279.75 before turning back up. The rally took
the SP futures back to the 1284.75 level and then they
reversed again. The selloff was a different end of the day,
as the 1279.50 level turned into resistance and the SP
futures dropped to 1276.25 in the last 10 minutes of stock
trading. The SP futures stalled out and after getting
through 1279.50, they ran up to 1283.00 by the close.

The market ended the day trapped in a narrow range. We get
Jobless Claims and Preliminary GDP before the open on
Thursday, and that's probably why. The Nasdaq has been a
half of a step ahead of the rest of the market lately. It
didn't end the day well, but it did hold at a support area.
The market sentiment is getting overly bullish again, so if
the market can hold together into Friday, it should set up a
sizable selloff if everything comes together.

On Thursday, look for a shorting opportunity in the early
going if the market goes up and tests the initial resistance
and stalls/ reverses. If that occurs, be sure to keep an eye
on the Nasdaq futures for the turn, as they were
aggressively sold at the 1915.50-1916.50 area. If a pop up
to those areas acts that way, then it should set up a very
good trade on the short side. On the other side of the coin,
if the market opens lower and the initial support can hold
and the market stalls and reverses, then it should set up
one more decent run to the upside. Aside from that, the
market will need to break and hold above or below the
afternoon ranges in order to get a directional move going in
either direction. The reward/risk is in favor the short side
given the double top at resistance on the SP futures and
a poor close for the Nasdaq futures.

The initial resistance is at the 1285.00-1285.50 area on the
SP futures and the 1915.50-1916.50 area on the Nasdaq
futures. If the market gets through those areas and doesn't
quickly reverse, then the next big hurdles are at the
1293.00-1294.00 area on the SP futures and the 1932.00-
1932.50 area on the Nasdaq futures. If those are reached and
not sold, then a move towards the 1296.50-1297.25 area on
the SP futures and the 1937.50-1938.25 area on the Nasdaq
futures is likely before a reversal occurs. If the market
gets up there and shows no sign of reversing, then the
1302.50-1303.50 area on the SP futures and the 1943.50-
1945.00 area on the Nasdaq futures would be big resistance
short term.

The initial support is at the 1276.75-1276.25 area on the SP
futures and the 1897.00-1896.00 area on the Nasdaq futures.
If those areas don't hold, then a short term top could be in
place. The next support is at the 1273.00-1272.50 area on
the SP futures and the 1890.00-1889.25 area on the Nasdaq
futures. If those are cut through, then the 1269.50-1268.50
area on the SP futures and the 1884.75-1883.50 area on the
Nasdaq futures would need to hold to avoid a bad day. The
next support would be at the 1266.00-1265.75 area on the SP
futures and the 1882.75-1882.00 area on the Nasdaq futures,
and then the major support is down at the 1263.00-1262.50
area on the SP futures and the 1877.00-1876.50 area on the
Nasdaq futures.



September 2008 SP futures resistance
symbols: emini = esu8 / big contract =spu8

1285.00-1285.50
1293.00-1294.00
1296.50-1297.25
1302.50-1303.50
September 2008 SP futures support
symbols: emini = esu8 / big contract =spu8

1276.75-1276.25
1273.00-1272.50
1269.50-1268.50
1266.00-1265.75
1263.00-1262.50


September 2008 Nasdaq futures resistance
symbols: emini = nqu8 / big contract = ndu8

1915.50-1916.50
1932.00-1932.50
1937.50-1938.25
1943.50-1945.00


September 2008 Nasdaq futures support
symbols: emini = nqu8 / big contract = ndu8

1897.00-1896.00
1890.00-1889.25
1884.75-1883.50
1882.75-1882.00
1877.00-1876.50


September 2008 Dow futures resistance
symbols: emini = ymu8

11549-11553
11633-11636
11677-11682
11726-11731


September 2008 Dow futures support
symbols: emini = ymu8

11464-11462
11440-11437
11419-11414
11370-11368
11344-11340


September 2008 Russell futures resistance
symbols: emini = er2u8 / big contract = er2u8

736.00-736.30
739.40-739.90
742.50-742.80
746.30-746.60


September 2008 Russell futures support
symbols: emini = er2u8 / big contract = er2u8

729.00-728.60
726.70-726.20
723.40-723.10
718.90-718.50
715.90-715.50


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

REMINDER:

Real Time subscribers can view these updates on
the web at this site:

http://www.tradestalker.com/members


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


Good Trading,
Mike Reed

Copyright (c) 2008 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.

www.TradeStalker.com

PO Box 9783, Ft Wayne, IN, 46899

Disclaimer

The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.

We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************

TradeStalker's RBI Update 08/26/08

.................................................

TradeStalker's

R.B.I. Trader's Update

8 / 26 / 2008

(Published Since 1996)

...............................................


Dateline: 6:35 pm eastern time, 8/26/2008

Learn how Mike Reed, a 25+ year veteran trader, finds his
nightly fixed support and resistance levels. Click here for
more details: http://www.tradestalker.com/RTGLive.htm

The market opened lower on Tuesday but after reaching
1263.50 on the SP futures the market turned up and rallied
to 1275.75 in just about an hour. The move stalled out, and
then after a small dip the SP futures popped to a lower high
at 1274.50 and reversed. The break through the 1271.75
updated support was broken and the market sold off to make
lower lows after the Fed Minutes were released. However,
buyers defended the 1263 level (which was tested for the 4th
time in the last 2 days) and the market turned back up. The
1266.00 level was broken (and then was barely broken by a
tick) and that sparked a move to the 1272.00 level on the SP
futures in the last minute of futures trading.

The daily indicators are in neutral, and the market has been
in a range for a few days now. The good news is that the
market put together a good rally off of that 1263.00 level
again on Tuesday, which has been a floor for the market this
week. The Nasdaq futures also rallied after making a lower
low on this leg down. That 1263.00-1262.50 area has been
tested enough, so if there is another trip down to that area
that isn't quickly reversed, then the market could be in
some pre-holiday trouble. It would be especially important
because we are now going into the timeframe that trends to
be bullish for the market -- end of month, along with a
Holiday weekend ahead.

In any case, the day ended with the market in uptrends so on
Wednesday look for a shorting opportunity if there is early
strength that stalls / reverses in the first 20-40 minutes
of trading. If that plays out, then the first decent selloff
should offer a buying opportunity as long as the 1266.00-
1265.75 area on the SP futures can hold. If that area
doesn't hold, then the market will be under pressure and
could end up cutting through the key support at the 1263.00-
1262.50 zone on the SP futures.

The initial resistance is at the 1272.00-1272.50 area on the
SP futures and 1892.50-1893.50 area on the Nasdaq futures.
If the move isn't sold at those areas, then we should see a
sprint towards the 1277.00-1277.50 area on the SP futures
and 1902.50-1903.25 area on the Nasdaq futures. If the
market gets up there, and the move stalls out as it gets
there, then beware of a reversal. If those areas are easily
cut through, then the next hurdles would be at the 1280.50-
1281.00 area on the SP futures and 1911.50-1913.00 area on
the Nasdaq futures. If those are not a problem getting
through, then a move back to the 1285.00-1285.50 area on the
SP futures and 1920.25-1921.25 area on the Nasdaq futures
could be in the cards before there is a sizable pullback.

The initial support is at the 1266.00-1265.75 area on the SP
futures and 1882.75-1882.00 area on the Nasdaq futures. If
those are tested early, and the market doesn't hold and turn
back up, then a test of the 1263.00-1262.50 area on the SP
futures and 1877.00-1876.50 area on the Nasdaq futures will
need to be reversed fast to avoid trouble. If that area on
the SP futures is broken by much, then the next big support
is at the 1257.50-1257.00 area on the SP futures and
1868.50-1867.25 area on the Nasdaq futures. If those are
broken, then major support is down at the 1252.50-1251.50
area on the SP futures.


September 2008 SP futures resistance
symbols: emini = esu8 / big contract =spu8

1272.00-1272.50
1277.00-1277.50
1280.50-1281.00
1285.00-1285.50

September 2008 SP futures support
symbols: emini = esu8 / big contract =spu8

1266.00-1265.75
1263.00-1262.50
1257.50-1256.75
1252.50-1251.50

September 2008 Nasdaq futures resistance
symbols: emini = nqu8 / big contract = ndu8

1892.50-1893.50
1902.50-1903.25
1911.50-1913.00
1920.25-1921.25

September 2008 Nasdaq futures support
symbols: emini = nqu8 / big contract = ndu8

1882.75-1882.00
1877.00-1876.50
1868.50-1867.25

September 2008 Dow futures resistance
symbols: emini = ymu8

11432-11436
11479-11482
11508-11513
11548-11552

September 2008 Dow futures support
symbols: emini = ymu8

11370-11368
11344-11340
11298-11293

September 2008 Russell futures resistance
symbols: emini = er2u8 / big contract = er2u8

724.70-725.10
727.80-728.20
730.30-730.70
734.20-734.80

September 2008 Russell futures support
symbols: emini = er2u8 / big contract = er2u8

718.90-718.50
715.90-715.50
710.60-710.20


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

REMINDER:

Real Time subscribers can view these updates on
the web at this site:

http://www.tradestalker.com/members


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


Good Trading,
Mike Reed

Copyright (c) 2008 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.

www.TradeStalker.com

PO Box 9783, Ft Wayne, IN, 46899

Disclaimer

The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.

We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************

TradeStalker's RBI Update 08/25/08

.................................................

TradeStalker's

R.B.I. Trader's Update

8 / 25 / 2008

(Published Since 1996)

...............................................


Dateline: 6:30 pm eastern time, 8/25/2008

Learn how Mike Reed, a 25+ year veteran trader, finds his
nightly fixed support and resistance levels. Click here for
more details: http://www.tradestalker.com/RTGLive.htm

The market opened down on Monday and below the initial
support that was key. After a small bounce from 1280.25 to
1284.00 on the SP futures, the market rolled over and
dropped steadily to a 1265.75 low just before 1 pm. The
market tried to get going on the upside, but the first move
off of the low could only pop to 1270.25 before reversing
and pulling back to 1267.50. The SP futures then moved over
the 1270 level again, but after getting to 1271.75 the SP
futures went back down through the 1270 level and that lead
to a new low for the day at 1264.50 on the SP futures and
then the market firmed up a bit into the close.

On Tuesday we get the Consumer Confidence number 30 minutes
into the trading day, and then we get the FOMC Minutes
released at 2 pm eastern time. This should help give a dose
of volatility to the market. The VIX reversed from
complacent levels, and in doing so a few sell signals were
given. However, the jump of 11.5% might be too much
bearishness for one day.

The market has been able to recover after the sharp drops
lately. If things go as they have, then the market will move
higher in the early going on Tuesday. If there is a rally,
the move needs to get over the initial resistance areas and
not quickly reverse to get the market out of the down-
trends. If the market is so weak that it can not break and
hold the initial resistance areas, then it's more trouble
for the bulls. However, If the market can get over the
initial resistance and hold, then we could rally back
towards the 1280.50-1281.00 area on the SP futures and/or
the 1911.50-1913.00 area on the Nasdaq futures and then see
what the market wants to do. A rally will not be able to
hold over those areas if it's still weak.

The initial resistance is at the 1272.00-1272.50 area on the
SP futures and 1901.50-1902.50 area on the Nasdaq futures.
The market will be vulnerable unless those areas a cleared
and held. If those are cleared, and the market doesn't
quickly reverse, then the next hurdles would be at the
1277.00-1277.50 area on the SP futures and 1907.50-1908.25
area on the Nasdaq futures. If the market gets back up
there, and the move loses steam, then beware of a reversal
of trend and a selloff back towards that 1272.50-1272.00
zone at a minimum. However, if the market plows through that
resistance then the 1280.50-1281.00 area on the SP futures
and 1911.50-1913.00 area on the Nasdaq futures will likely
be pivotal. A reversal would put the market back in
downtrends, but a break and hold over those areas would open
the door for a run to the 1285.00-1285.50 area on the SP
futures and 1920.25-1921.25 area on the Nasdaq futures. If
those are somehow exceeded, then there should be very strong
resistance near the 1291.00-1291.75 area on the SP futures
and 1929.25-1930.50 area on the Nasdaq futures.

The initial support is at the 1261.50-1260.50 area on the SP
futures and 1887.00-1886.00 area on the Nasdaq futures.
Those areas should be bought if the market is going to be
ok. If those are broken, then the 1257.50-1256.75 area on
the SP futures and 1881.50-1880.25 area on the Nasdaq
futures must hold or else another sizable downdraft is in
the cards, with a move towards the 1252.50-1251.50 area
being a last good support in front of another nasty selloff.


September 2008 SP futures resistance
symbols: emini = esu8 / big contract =spu8

1272.00-1272.50
1277.00-1277.50
1280.50-1281.00
1285.00-1285.50
1291.00-1291.75

September 2008 SP futures support
symbols: emini = esu8 / big contract =spu8

1261.50-1260.50
1257.50-1256.75
1252.50-1251.50

September 2008 Nasdaq futures resistance
symbols: emini = nqu8 / big contract = ndu8

1901.50-1902.50
1907.50-1908.25
1911.50-1913.00
1920.25-1921.25
1929.25-1930.50

September 2008 Nasdaq futures support
symbols: emini = nqu8 / big contract = ndu8

1887.00-1886.00
1881.50-1880.25

September 2008 Dow futures resistance
symbols: emini = ymu8

11434-11439
11479-11482
11508-11513
11548-11552
11604-11611

September 2008 Dow futures support
symbols: emini = ymu8

11326-11322
11298-11293

September 2008 Russell futures resistance
symbols: emini = er2u8 / big contract = er2u8

723.00-723.20
727.80-728.20
730.30-730.70
734.20-734.80
739.00-739.50

September 2008 Russell futures support
symbols: emini = er2u8 / big contract = er2u8

716.90-716.40
713.20-712.80


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

REMINDER:

Real Time subscribers can view these updates on
the web at this site:

http://www.tradestalker.com/members


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


Good Trading,
Mike Reed

Copyright (c) 2008 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.

www.TradeStalker.com

PO Box 9783, Ft Wayne, IN, 46899

Disclaimer

The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.

We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************