TradeStalker's RBI Update 10/21/08

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

TradeStalker's

R.B.I. Trader's Update

10 / 21 / 2008

(Published Since 1996)

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


Dateline: 6:57 pm eastern time, 10/21/2008


The odds favored lower prices on Tuesday and the SP futures
opened almost 20 points lower and the move reversed. Off of
966.50, the SP futures rallied to 986.00 and the move
fizzled and the market rolled over. A drop to 952.75 was
turned back up and the market rallied into the last hour.
The SP futures reached 983.75, backed off to 875.25, and
then bounced and turned down from a lower high at 983.25 and
that made a 1-2-3 top and the market rolled over again. The
selloff was pretty aggressive as the market dropped to
test/break the early afternoon lows and then the futures
firmed into the close.

The market is in neutral territory on the internal gauges.
The Tuesday highs need to be exceeded and held on a closing
basis to get the market into a position to break out of the
current trading range. If we get a rally that gets back up
there, but then rolls over again, it could be terminal and
begin a fall towards the low 900's before the market gets
footing for a good rally.

Earnings reports after the close has the futures all over
the place. Over the last 9 days the SP futures have opened
12 points or more above or below the prior day's close. We
could get another big open on Wednesday. If the market opens
lower, it should set up a good buying opportunity as soon as
the move reverses. If the market opens higher, then it would
set up a shorting opportunity if the move reverses in the
first 20 minutes or so. Thereafter, look for a buying
opportunity when the drops stall out and turn up and
shorting opportunities on the rallies when they
stall/reverse until there is a good breakout of the Tuesday
ranges.

There is minor resistance at the 960.00 level on the SP
futures and the 1296.00 level on the Nasdaq futures. If
those are cleared, they could then turn into support on a
pullback. The first big hurdles would be at the 966.50-
967.50 area on the SP futures and the 1318.50-1320.00 area
on the Nasdaq futures. If those are cleared, then there
should be some resistance near the 975.00 level on the SP
futures and the 1328.50 level on the Nasdaq futures. If
those are exceeded, then the Tuesday high areas at 983.00-
984.00 on the SP futures and 1342.50-1345.00 on the Nasdaq
futures would be key resistance. If the market can get over
those areas and not quickly reverse, then we could go for
the 997.75-998.25 area on the SP futures and/or the 1370.50-
1371.75 area on the Nasdaq futures.

There should be good support at the 951.50-951.00 area on
the SP futures and the 1281.00-1280.50 area on the Nasdaq
futures. If those are tested and not defended, then there is
something wrong and the key support down at the 944.00-
943.00 area on the SP futures and the 1273.00-1272.00 area
on the Nasdaq futures could be tested. If the market gets
there and cannot turn around quickly, then a drop towards
the 932.50-931.50 area on the SP futures and the 1264.25-
1262.50 area on the Nasdaq futures would be the next
support, and must hold to avoid a big down day. If those do
not hold, then we could fall towards the 919.00-918.00 area
on the SP futures and the 1252.75-1250.50 area on the Nasdaq
futures. If those do not hold, then only the 906.00-904.50
area on the SP futures is the last good support on
Wednesday.



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

960.00
966.50-967.50
975.00
983.00-984.00
997.75-998.25


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

951.50-951.00
944.00-943.00
932.50-931.50
919.00-918.00
906.00-904.50


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

1296.00
1318.50-1320.00
1328.50
1342.50-1345.00
1370.50-1371.75


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

1281.00-1280.50
1273.00-1272.00
1264.25-1262.50
1252.75-1250.50


December 2008 Dow futures resistance
symbols: emini = ymz8

9045
9127-9134
9185
9280-9286
9372-9379


December 2008 Dow futures support
symbols: emini = ymz8

8989-8983
8927-8919
8804-8797
8688-8680


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

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 10/20/08

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

TradeStalker's

R.B.I. Trader's Update

10 / 20 / 2008

(Published Since 1996)

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


Dateline: 6:15 pm eastern time, 10/20/2008


The SP futures opened up 19.50 points on Monday and quickly
pulled back. That bit of weakness was bought and the SP
futures ran up to 970.00 and then turned down. The 955.00
level was broken and it lead to a move to new lows for the
day by 11am. The selloff was reversed and the SP futures
climbed to the 971.50-972.50 resistance zone. The SP futures
reversed from a 972.25 high and dropped to 960.75 and
quickly reversed back up. The market popped back to the
971.50-972.50 resistance zone, then the grind higher was
accelerated as the move went mini-parabolic into the close.

The internal gauges are getting short term overbought, and
the Vix gave a sell signal at Monday's close. After the
morning selloff, the action was choppy trend up with good
buying on Monday. The move in the last hour was straight up,
however, so the first good trading opportunity should be on
the short side. Then, if the mood doesn't change and stick,
then the first decent pullback would set up a buying
opportunity. The initial support shouldn't break by much or
else a fairly deep retracement could occur before the
downside subsides.

The initial resistance is at the 992.50-993.00 area on the
SP futures and 1362.50-1363.25 area on the Nasdaq futures. A
pop to those areas that reverses in the early going sets up
a good shorting opportunity. If those are cleared, then we
could see the 997.75-998.25 area on the SP futures and
1370.50-1371.75 area on the Nasdaq futures. If the market
gets up there and doesn't turn back down, then a push to the
1002.50-1003.00 area on the SP futures and/or 1379.50-
1380.50 area on the Nasdaq futures would be next. If we
don't see that area get rejected, then a move towards the
1010.00-1011.00 area on the SP futures and 1395.25-1396.75
area on the Nasdaq futures could be in the cards.

The initial support is at the 987.25-986.50 area on the SP
futures and 1350.50-1349.50 area on the Nasdaq futures. If
those are broken, then a decent drop should be underway. The
974.00-972.50 area on the SP futures and 1336.00-1334.75
area on the Nasdaq futures would need to hold to keep the
trends in decent shape. If those are broken, then the
967.00-965.50 area on the SP futures and 1327.00-1325.50
area on the Nasdaq futures will likely be seen. If the
market gets there and doesn't reverse then the 961.50-960.50
area on the SP futures and 1319.75-1318.50 area on the
Nasdaq futures is a pivotal area for the market. If those
are not held, then the next support is at the 955.00 and
1309.50 levels. If the market doesn't hold there then we
have a bad day underway again and could fall towards the
944-943.00 area on the SP futures.



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

992.50-993.00
997.75-998.25
1002.50-1003.00
1010.00-1011.00

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

987.25-986.50
974.00-972.50
967.00-965.50
961.50-960.50
955.00
944-943.00

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

1362.50-1363.25
1370.50-1372.00
1379.50-1380.50
1395.25-1396.75

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

1350.50-1349.50
1336.00-1334.75
1327.00-1325.50
1319.75-1318.50
1309.50

December 2008 Dow futures resistance
symbols: emini = ymz8

9324-9329
9372-9379
9418-9423
9512-9521

December 2008 Dow futures support
symbols: emini = ymz8

9285-9280
9109-9098
9047-9038
9003-8996
8867


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

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 10/19/08

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

TradeStalker's

R.B.I. Trader's Update

10 / 19 / 2008

(Published Since 1996)

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


Dateline: 5:49 pm eastern time, 10/19/2008

Click Here to visit our site for FREE trading articles and
videos!

Friday started with another big down open and that quickly
reversed to the upside. The SP futures got legs and rallied
all the way to 987.75 by early afternoon. The market pulled
back and then the SP futures bounced from 974.75 to 983.25
and the bounce fizzled. Turning down from the lower high set
up a 1-2-3 top and the market started its selloff. There was
a bounce from just under the 955-954 support, but it failed
and the market trended lower, reaching 932.25 just before
the close.

It looks like the market is going range-bound for a bit. The
indicators are mostly neutral, but the VIX says to expect
more volatility. So, if we are going to get good swings in
both directions, then look for trades on both sides. If the
market runs up to test the Friday highs, the move would set
up a good shorting opportunity as soon as the market shows
signs of a turn around. On the downside, a sharp drop that
can hold and turn up from around the 892.75-891.25 area on
the SP futures should set up a good buying opportunity. For
now the short side on bounces looks like the better odds
setup.

Last week was full of big moves coming before stocks open.
Last week the SP futures had opens of +52.00 points on
Monday, +34.30 on points Tuesday, -23.80 points on
Wednesday, +12.20 points on Thursday and -19.50 points on
Friday. In any case, if the volatility keeps up, another big
open isn't impossible. We'll see if there is another big
open on Monday. It will likely make a good "fade" if the
reversal occurs in the first 15 minutes or so.

The initial resistance is at the 957.75-959.25 area on the
SP futures and the 1332.00-1333.00 area on the Nasdaq
futures. The trends are down and bounces are shorting
opportunities unless those areas are cleared and not quickly
reversed. If they get up there and do not reverse, then the
next big hurdles are up at the 971.50-972.50 area on the SP
futures and the 1347.50-1348.50 area on the Nasdaq futures.
If the market is weak, those areas will be rejected if they
are reached. If the market has no trouble pushing through
those areas, then the key resistance on Monday is at the
987.50-988.00 area on the SP futures and the 1370.50-1372.00
area on the Nasdaq futures.

The initial support is at the 933.00-932.00 area on the SP
futures and the 1310.50-1309.75 area on the Nasdaq futures.
If there is follow through weakness and those are broken,
then beware that a rally could begin from the 927.00-926.00
area on the SP futures and the 1302.00-1300.50 area on the
Nasdaq futures if there is a quick reversal back up. If that
doesn't happen, then the next support is down at the 920.00-
918.50 area on the SP futures and the 1281.25-1280.50 area
on the Nasdaq futures. If the market spills that far and
still cannot get footing and turn around, then the door is
open for a drop towards the 905.50-905.00 area on the SP
futures and the 1266.00-1264.50 area on the Nasdaq futures.
If those are broken and the market continues lower, the key
support is at the 892.75-891.25 area on the SP futures and
the 1236.00-1234.75 area on the Nasdaq futures. If those are
not quickly reversed, then a test/break of the 840-838 zone
on the SP500 cash and futures is likely in the cards before
a bottom is put in place.

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

957.75-959.25
971.50-972.50
987.50-988.00


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

933.00-932.00
927.00-926.00
920.00-918.50
905.50-905.00
892.75-891.25
840-838 {SP500 cash}


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

1332.00-1333.00
1347.50-1348.50
1370.50-1372.00


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

1310.50-1309.75
1302.00-1300.50
1281.25-1280.50
1266.00-1264.50
1236.00-1234.75


December 2008 Dow futures resistance
symbols: emini = ymz8

9032-9038
9147-9152
9284-9288


December 2008 Dow futures support
symbols: emini = ymz8

8741-8736
8688-8682
8612-8607
8521-8514
8432-8426


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

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

Video - How to Trade a Stall at Resistance

Hi Folks,

Many have asked me "what's a stall look like" and I caught
one a week ago for demonstration.
We were shorting a stall at resistance on this day, and the
audio/video will let you "into my mind" as I walk through
the trade from the time it developed until it was closed
out.
It wasn't a homerun trade by any means. In fact, this trade
turned into a scalp...and I also got out for a quick second
look, but then got right back in on time. It's 12 minutes
long, but worth the time especially if you have wondered
what a stall looks like.

Take a look at what a "stall at resistance" looks like
and how I traded it here:
**Please allow the page a few seconds to load**

http://tradestalker.com/stall%20at%20resistance/

Good Trading,
Mike Reed
www.tradestalker.com

PS: This week we have something REALLY big for you. Keep
your eyes peeled for email telling more about what is in the
works to help YOU in this wild market.

TradeStalker's RBI Update 10/16/08

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

TradeStalker's

R.B.I. Trader's Update

10 / 16 / 2008

(Published Since 1996)

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


Dateline: 6:48 pm eastern time, 10/16/2008

Click Here to visit our site for FREE trading articles and
educational videos!

We got early strength to short on Thursday, as the SP
futures went up to 926.75 (just under the 927.00-928.00
initial resistance) and then reversed and trended down 61.50
points to 865.25. A reversal off that level gave the bulls a
nice run, but it failed. In the 4th and 5th Intraday Updates
we were looking for a short in the 912-913 zone, and the SP
futures reversed from 913.75. They dropped 16.75 points to
897.00 and the market reversed and rallied to 918.25. The
pullback to 909 held and the market headed for the highs.
The 927-928 area was cut through, and the SP futures ran up
to just over the 933-934 and pulled back. That dip was
bought and the SP futures rallied to the 948.50-949.00 zone
(poking up to 950.00) in the last 30 minutes before pulling
back into the close.

We could have a nice low in place, with the SP futures
possibly putting in a "rising W" bottom. If this is the
case, a pullback could go as far as the 923.00-922.00 area
and not hurt the upside bias for Friday. We'll see how
things are working out on Friday. If this is just another
failed rally in a bear market, then the 923.00-922.00 area
will *not* hold on a pullback and the 893-891 area would
also be broken on Friday. If buyers don't defend that area,
then the SP futures could take out the Thursday lows and put
the market on edge over the weekend. But, if things have
changed for the better, then a sharp drop to that zone will
be aggressively bought if it's tested.

On Friday use early weakness to get long if the market turns
up from the initial support areas or above. If that plays
out, the first decent rally will likely set up a good
shorting opportunity as soon as the upside stalls and begins
to roll over.

The initial resistance is at the 950.00 level on the SP
futures and the 1330.75 area on the Nasdaq futures. If those
are cleared and held, then the next good resistance is at
the 961.00-962.00 area on the SP futures and the 1340.50-
1342.00 area on the Nasdaq futures. If those are not a
problem, then we could see the 970.00-971.00 and 1351.50-
1352.75 areas reached. If there is another big up day, then
the market could get to the 981.75-983.00 area on the SP
futures and the 1372.50-1374.00 area on the SP futures. If
there is another blast-off move higher, then look for
resistance at the 997.50-998.50 area on the SP futures.

The initial support is at the 937.70-936.50 area on the SP
futures and the 1306.00-1304.00 area on the Nasdaq futures.
If those areas are not bought, then the first key support is
at the 923.00-922.00 area on the SP futures and the 1280.00-
1277.50 area on the Nasdaq futures. If the market cannot
hold those areas, then a drop towards the 893.00-891.00 area
on the SP futures and the 1236.00-1234.75 area on the Nasdaq
futures could be in the cards. If those areas do not hold,
or quickly reverse if broken, then the downside could extend
towards the 866.00-865.00 area on the SP futures and the
1193.00-1191.00 area on the Nasdaq futures.



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

950.00
961.00-962.00
970.00-971.00
981.75-983.00
997.50-998.50


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

937.70-936.50
923.00-922.00
893.00-891.00
866.00-865.00


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

1330.75
1340.50-1342.00
1351.50-1352.75
1372.50-1374.00


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

1306.00-1304.00
1280.00-1277.50
1236.00-1234.75
1193.00-1191.00


December 2008 Dow futures resistance
symbols: emini = ymz8

9006
9037-9044
9091-9098
9202-9211


December 2008 Dow futures support
symbols: emini = ymz8

8873-8865
8709-8701
8438-8428
8190-8182


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

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 10/15/08

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

TradeStalker's

R.B.I. Trader's Update

10 / 15 / 2008

(Published Since 1996)

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


Dateline: 7:47 pm eastern time, 10/15/2008

Visit our site for free trading articles: TradeStalker.com

The market opened lower on Wednesday and kept dropping until
reaching 950.25 on the SP futures. The market bounced a bit
after lunchtime trading, but after getting to the 961.50-
963.00 resistance area, the bounce was reversed. From a
962.00 bounce high, the SP futures fell to 927.00 before a
bounce occurred. The jabs higher got the SP to 948.50 but
the pattern was a bad one and the market rolled over and
sold off into the close.

The market opened on its highs and closed on its lows in a
basic trend down day on Wednesday. A test of the lows
appears to be in the works, but at some point the market
will put together a decent bounce. The bounces will still
offer good shorting opportunities, especially if we get a
bounce of around 20 points on the SP futures that fizzles
out.

The market is weak as this is written. If the market stays
down here and opens lower, watch the first 15 minutes for a
reversal. If that occurs, then a decent bounce should
follow. Just don't overstay your welcome on the long side as
the market is still vulnerable to more hard selling.

The first big hurdle on Thursday is at the 927.00-928.00
area on the SP futures and the 1274.00-1275.00 area on the
Nasdaq futures. If the market gets near those areas and
stalls or reverses it's a great shorting opportunity. If
those are cleared, then the key resistance is at the 948.50-
949.00 area on the SP futures and the 1306.50-1308.00 area
on the Nasdaq futures. If the market gets back up there and
doesn't fail, then things are changing. If the market gets
there and reverses, then get short and put a stop just over
that zone. If the market keeps going through those areas
without stalling there, then we should have good resistance
at the 961.50-963.00 area on the SP futures and the 1326.75-
1327.50 area on the Nasdaq futures. If the market has a good
rally for some reason, then the 970.00-971.00 area on the SP
futures and the 1351.50-1352.75 area on the Nasdaq futures
would be next.

The initial support is at the 893.00-892.00 area on the SP
futures and the 1219.00-1218.00 area on the Nasdaq futures.
If those break then there is some support near the 885.00-
884.00 area on the SP futures and the 1201.00-1200.00 area
on the Nasdaq futures. If there isn't a reversal there, then
the next support is down at the 874.50-873.50 area on the SP
futures and the 1188.50-1187.00 area on the Nasdaq futures.
If those are broken, then we could cave again and head
towards the 846.00-844.50 area on the SP futures and the
1151.50-1148.00 area on the Nasdaq futures. The major
support is at the 838.50-838.00 area on the SP futures.



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

927.00-928.00
948.50-949.00
961.50-963.00
970.00-971.00


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

893.00-892.00
885.00-884.00
874.50-873.50
846.00-844.50
838.50-838.00


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

1274.00-1275.00
1306.50-1308.00
1326.75-1327.50
1351.50-1352.75


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

1219.00-1218.00
1201.00-1200.00
1188.50-1187.00
1151.50-1148.00


December 2008 Dow futures resistance
symbols: emini = ymz8

8742-8749
8937-8943
9027-9036
9091-9098


December 2008 Dow futures support
symbols: emini = ymz8

8413-8408
8328-8322
8235-8228
7976-7967


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

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 10/14/08

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

TradeStalker's

R.B.I. Trader's Update

10 / 14 / 2008

(Published Since 1996)

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


Dateline: 6:44 pm eastern time, 10/14/2008

We came into Tuesday wanting to short early strength as soon
as the move reversed. The market had big gap up opens, but
the strength was sold and the SP futures dropped from
1057.50 to 995.00 in just over an hour into the day. After a
bounce, that low was tested and the market turned up and the
market rallied into early afternoon. A channel formed and
after reaching 1022.00 on the SP futures, the market rolled
over again. The channel broke and it brought on a selloff to
974.25 on the SP futures. That was a fib .382 retracement
from last week's 838.50 low to Tuesday morning's 1057.50
high, and the market reversed course. The 998.50-1000.00
area was rejected on the first try to get out of trouble,
and the SP futures fell from 997.50 to 987.50. Buying came
in and cut through that 998.50-1000.00 area on the SP
futures and they rallied to 1011.25 before softening into
the close.

On Wednesday we get CPI and Retail Sales before the open and
also the Fed's Beige Book at 2pm eastern time. The market is
trying to digest the huge moves from last week and this week
thus far, and find new ground where traders feel some
comfort. The Tuesday lows should be important on Wednesday.
If they hold on a pullback, then we could have another good
rally attempt coming. However, if those Tuesday lows do not
hold, then we could go down to test the key support at the
955-954 area on the SP futures.

On Wednesday, if there is early strength, look for a
shorting opportunity if the move reverses in the first 20-40
minutes of trading. If that plays out, a test of the Tuesday
low areas that reverses would set up a good buying
opportunity. If the market instead opens lower, then a
reversal back up in the first 20-40 minutes should set up a
good buying opportunity. After the early going, the market
should find a trend that lasts for awhile, maybe into the
lunchtime trading, and then there should be a reaction when
the Fed's Beige Book is released at 2pm eastern time.

The initial resistance is at the 1007.50-1008.00 area on the
SP futures and 1390.50-1391.50 area on the Nasdaq futures.
If those are cleared and not quickly reversed, then the
1011.00 and 1397.00 levels are next. If a pop to those
levels isn't sold, then a move up to the 1021.50-1022.75
area on the SP futures and 1422.50-1425.25 area on the
Nasdaq futures could be in the cards. A bounce will go no
further if the market is still vulnerable. If those areas
are reached, and not rejected, then the next hurdles are at
the 1027.50-1028.00 area on the SP futures and 1427.50-
1429.50 area on the Nasdaq futures. If the market gets over,
and holds, those areas, then we could run towards the
1057.50-1058.00 area on the SP futures and 1476.00-1477.00
area on the Nasdaq futures and see how the market acts of a
test of the Tuesday opening ranges.

The initial support is at the 1000.00-999.00 area on the SP
futures and 1377.00-1376.00 area on the Nasdaq futures. If
those zones are not defended, then there is minor support
around the 993.00 level on the SP futures and 1372.50 level
on the Nasdaq futures. If the market breaks below those
levels, and doesn't snap right back, then a move towards the
988.00 level on the SP futures and 1366.00 level on the
Nasdaq futures is in the cards. If those don't hold, then
the 975.00-974.00 area on the SP futures and 1358.50-1356.00
area on the Nasdaq futures are key support areas. A reversal
there sets up a double bottom at a good support zone and
could start a good rally. If those areas do not hold, then
the 955.00-954.00 area on the SP futures is the first key
area that must hold. If that is broken, and the market
doesn't turn around quickly, then we could gravitate towards
the 943.00-942.00 area on the SP futures and if the market
can hold and reverse from there, it's a very good entry on
the long side.




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

1007.50-1008.00
1011.00
1021.50-1022.75
1027.50-1028.00
1057.50-1058.00

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

1000.00-999.00
993.00
988.00
975.00-974.00
962.00-961.00
955.00-954.00
943.00-942.00


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

1390.50-1391.50
1397.00
1422.50-1425.25
1427.50-1429.50
1476.00-1477.00

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

1377.00-1376.00
1372.50
1366.00
1358.50-1356.00


December 2008 Dow futures resistance
symbols: emini = ymz8

9399-9405
9387
9513-9522
9621-9629
9863-9869

December 2008 Dow futures support
symbols: emini = ymz8

9298-9292
9257
9201
9085-9078


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

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 10/13/08

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

TradeStalker's

R.B.I. Trader's Update

10 / 13/ 2008

(Published Since 1996)

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


Dateline: 6:44 pm eastern time, 10/13/2008


The market gapped up big on the open on Monday, but after
getting to 949.75 the strength was sold and the market
backed off. After reaching 938.00 on the SP futures the
market rallied back and made a high at 969.00 before noon.
The move tired out and the SP futures fell to the 954.00
updated support and then quickly reversed. The bulls took
control and the market put together its biggest rally in
history. The SP futures rallied to fill the gap at 1010.00
and kept going until reaching 1017.50 just before the close.

Well, it sure looks like a bottom is in place. The market
hasn't done anything in a small way lately. The averages
were all up 11% or more on Monday. The short term gauges are
overbought, however. The advancing issues outpaced
declining issues on the NYSE by better than 19 to 1, and the
up volume over down volume was also 19 to 1.

Since the market ended very strong, look for a shorting
opportunity if there is early strength as soon as the move
stalls and begins to turn over. This should set up in the
first 20 minutes or so if a reversal is going to occur. If
this plays out, be ready to cover and get long as soon as
the first decent pullback runs out of steam. That early
selloff should be over in the first 90 minutes if the upside
is going to continue.

The initial resistance is at the 1017.50-1018.00 area on the
SP futures and the 1459.50-1461.50 area on the Nasdaq
futures. If those are tested and rejected, it sets up a
trade on the short side. If instead those are exceeded and
not quickly reversed, then a run towards the 1027.00-1028.00
area on the SP futures and the 1470.50-1472.50 area on the
Nasdaq futures could be in the cards. If those areas are not
sold, then a move to the 1034.00-1035.00 area on the SP
futures and the 1481.50-1482.50 area on the Nasdaq futures
is likely before a reversal occurs.

The initial support is at the 1010.50-1009.50 area on the SP
futures and the 1449.50-1448.50 area on the Nasdaq futures.
If those do not hold, then we will get a deeper pullback
before good buying comes in. The next support is at the
989.00-988.00 area on the SP futures and the 1413.50-1412.00
area on the Nasdaq futures. If those are broken, then it
opens the door for a move towards the 969.00-968.50 area on
the SP futures and the 1394.00-1392.50 area on the Nasdaq
futures. If the market gets down here, it would be a good
buying opportunity if the market can turn back up from those
areas. If they don't hold, then the 962.00-961.00 area on
the SP futures and the 1364.50-1362.50 area on the Nasdaq
futures would be the next good support. If those are reached
and the market doesn't reverse, then it could mean that the
market is in some trouble again. The next support would be
key, at the 955.00-954.00 area on the SP futures and the
1351.50-1350.50 area on the Nasdaq futures. If those are not
held, then the trends roll back over and the 943.00-942.00
area on the SP futures and the 1342.00-1340.50 area on the
Nasdaq futures would be the next key support. If those areas
hold, we get a good rally. If they do not, then the 934.00
level on the SP futures and the 1318.75 level on the Nasdaq
futures need to hold or we have a big reversal going on.

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

1017.50-1018.00
1027.00-1028.00
1034.00-1035.00


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

1010.50-1009.50
989.00-988.00
969.00-968.50
962.00-961.00
955.00-954.00
943.00-942.00
934.00


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

1459.50-1461.50
1470.50-1472.50
1481.50-1482.50


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

1449.50-1448.50
1413.50-1412.00
1394.00-1392.50
1364.50-1362.50
1351.50-1350.50
1342.00-1340.50
1318.75


December 2008 Dow futures resistance
symbols: emini = ymz8

9518-9523
9599-9613
9672-9680


December 2008 Dow futures support
symbols: emini = ymz8

9442-9437
9254-9248
9059-9052
8990-8982
8938-8930
8881-8873
8740


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

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 10/12/08

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

TradeStalker's

R.B.I. Trader's Update

10 / 12 / 2008

(Published Since 1996)

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


Dateline: 6:01 pm eastern time, 10/12/2008

Friday was a wild end to a wild week. The week started with
a gap down open, and the downside snowballed into Friday
morning. The market gapped down 41.50 points on the SP
futures and they reversed and sprinted to 922.00 in the
first 40 minutes of trading. The move fizzled and it was
basically a trend down move until testing the opening lows.
The Nasdaq futures made a slightly lower low while the SP
and Dow futures made higher highs and the market turned up.
It struggled to get going until 2pm, and then market headed
higher. The buying fed on itself and a 100 point rally on
the SP futures barely poked over the initial resistance
before reversing. The last move was a pullback of 55 points
as the futures sold off to settle well below fair value.

Last Sunday night I stated that a drop into the October 10-
11 timeframe that turned up could mark a good low for some
time. The market had 2 chances to make a good bottom on
Friday, and both of the moves failed. Given the huge
downside momentum of late, it will take a bit of work to
turn things around. The action on Friday was a start. Now
the bulls need to defend the Friday lows, and then close
over the 930 level on the SP500 cash. It will likely take
some work.

Things should tame down a bit on Monday. I doubt we will see
the huge ranges that were made on Friday. The ES had a
106.00 point range, while the NQ had a 126.75 point range
and the YM had a 1030 point range. That was on the heels of
a 104.25 point range for the ES on Thursday. And that's just
the last 2 days.

A 7-10% move in a month is normally considered a huge move.
Not this year. It was just a few years ago when we felt the
market would never have big moves again. From August 23,
2006 to February 26, 2007, the 10 day average range stayed
between 7 and 9 points except for one small increase to a 12
point average. The average intraday range during that
timeframe was less than 1%. The average range (intraday high
to intraday low) over the past 3 days for the SP futures has
been 9.8%, and over the last 10 days the average range is
7.5%. On Friday, the rally from the 839.80 low to the 936.36
high was an 11.5% move. My have things changed.

On Monday look for early strength to set up a shorting
opportunity as soon as the move stalls/reverses. If that
plays out, the first decent pullback should set up a buying
opportunity if the 884.00-883.00 area on the SP futures can
hold. If it doesn't, then a test of the Friday lows could be
in the cards.

The initial resistance is at the 942.00-943.00 area on the
SP futures and 1322.50-1325.00 area on the Nasdaq futures.
If those are exceeded and not quickly reversed, then there
should be resistance near the 954.00-955.00 area on the SP
futures and 1338.50-1340.00 area on the Nasdaq futures. If
the market has a good rally then the 961.00-963.50 area on
the SP futures and 1346.50-1348.00 area on the Nasdaq
futures would be next. If the market gets up there, and
doesn't reverse, then it wouldn't be impossible to get to
the 988.50-991.00 area on the SP futures and 1362.50-1365.00
area on the Nasdaq futures. If that happens, and the move
doesn't reverse up near those areas, then the major
resistance is at the 1010.50-1012.50 area on the SP futures
and 1373.00-1375.00 area on the Nasdaq futures.

The initial support is at the 884.00-883.00 area on the SP
futures and 1251.00-1249.50 area on the Nasdaq futures. If
those are not held then the door is opened for a drop
towards the 875.50-874.50 area on the SP futures and
1240.00-1238.50 area on the Nasdaq futures. If those are
broken, and the market doesn't quickly reverse, then only
the 844.00 level on the SP futures and 1204.00 level on the
Nasdaq futures can keep the market from testing the Friday
lows at the 840.00-838.50 area on the SP futures and
1199.00-1198.25 area on the Nasdaq futures. If those do not
hold, or quickly reverse if they are broken, then a test of
the 772-768 area on the SP500 cash could be seen before
another reversal similar to Friday's reversal.



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

942.00-943.00
954.00-955.00
961.00-963.50
988.50-991.00
1009.50-1010.50

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

884.00-883.00
875.50-874.50
844.00
840.00-838.50

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

1322.50-1325.00
1338.50-1340.00
1346.50-1348.00
1362.50-1365.00
1373.00-1375.00

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

1251.00-1249.50
1240.00-1238.50
1204
1199.00-1198.25

December 2008 Dow futures resistance
symbols: emini = ymz8

8900-8908
8967-8973
9090-9103
9263-9275
9468-9476

December 2008 Dow futures support
symbols: emini = ymz8

8390-8384
8360-8354
7976
7892-7878

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

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 10/09/08

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

TradeStalker's

R.B.I. Trader's Update

10 / 9/ 2008

(Published Since 1996)

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


Dateline: 6:36 pm eastern time, 10/9/2008

The market opened higher on Thursday, but after about 20
minutes the market rolled over and sold off to 963.50 on the
SP futures before noon. The market bounced back to 991.50
before noon and then churned sideways into the late
afternoon. With a little over an hour left in stock trading,
the SP futures began to roll over. The SP futures made a
half-hearted attempt to double bottom, but after a bounce
off 961.00 failed, the low was broken and the market
cascaded lower. Only the closing bell could stop the
bleeding as the market had yet another crashette day.

I mentioned earlier in the week that a low could come in the
October 10-13 timeframe. We will see, but a bounce of some
sort should occur soon. The VIX closed at 63.92 on Thursday,
which is near the 1987 high for that indicator. The other
internal gauges are at levels not seen decades, if ever. For
one, the 13 day rate of change on the SP500 cash is -24.6%.
That is a normal bear market, compressed into a 2 1/2 week
timeframe. Anyhow, the market is historically oversold, and
if this market is going to turn around in this timeframe we
need a spark.

On Friday, if there is early strength, it should be a gift
on the short side. If on the other hand the market opens
lower and then reverses back up in the first 20-40 minutes,
then it could start a decent rally. Shorting the bounces
will be the better odds trade until the market gets turned
around. In order to start a bottoming process, the market
needs to close over the high of the low day. If the Thursday
lows are not broken, then a close over 1009.50 on the SP
futures would be needed to start a bottoming process.

Look for resistance at the 938.50-940.00 area on the SP
futures and the 1300.00-1303.00 area on the Nasdaq futures.
If those are cleared and held then the 961.00-963.50 area on
the SP futures and the 1338.50-1340.00 area on the Nasdaq
futures. If those are not a problem, then the next hurdles
are at the 988.50-991.00 area on the SP futures and the
1362.50-1365.00 zones. The key resistance is at the 1009.50-
1010.50 area on the SP futures and the 1373.00-1375.00 area
on the Nasdaq futures.

There is minor support at the 906.00 level on the SP futures
and the 1262.50 level on the Nasdaq futures. If those break,
then the 900.50-899.50 area on the SP futures and the
1258.50-1256.50 area on the Nasdaq futures could be magnets.
A drop to the 876.00-875.00 area on the SP futures and the
1234.00-1232.00 area on the Nasdaq futures must hold,
otherwise the market could have another crashette day.

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

938.50-940.00
961.00-963.50
988.50-991.00
1009.50-1010.50


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

906.00
900.50-899.50
876.00-875.00


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

1300.00-1303.00
1338.50-1340.00
1362.50-1365.00
1373.00-1375.00


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

1262.50
1258.50-1256.50
1234.00-1232.00


December 2008 Dow futures resistance
symbols: emini = ymz8

8878-8892
9090-9103
9263-9275
9468-9476


December 2008 Dow futures support
symbols: emini = ymz8

8539
8482-8476
8272-8264


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

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 10/08/08

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

TradeStalker's

R.B.I. Trader's Update

10 / 8 / 2008

(Published Since 1996)

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


Dateline: 6:55 pm eastern time, 10/8/2008

The market gapped down on Wednesday and right in the 972-970
major support area on the SP futures cash and futures and
the market instantly turned back up. The SP futures rallied
from 971.00 to 1025.75 in about 30 minutes, and as soon as
the move stalled and reversed the selling came back in. We
were expecting the first decent rally to fail, and it led to
a drop to test the opening lows shortly after noon. The
SP500 cash made its low at 970.98 and the market turned back
up. The rally fizzled and reversed off of 1027.25 on the SP
futures, and then a pullback held above the updated support.
Another bounce to a slightly lower high was reversed,
setting up a 1-2-3 topping pattern. Once the 1006 level was
broken the selling snowballed as the SP futures dropped 46
points in the last 30 minutes of trading.

The market looked pretty good until the last 2 hours of
trading on Wednesday. The SP futures didn't have enough
strength to hold its gains, and when the selling started it
was relentless again. Now the market has a key resistance
that's well defined at the 1026-1027 area on the SP futures.
If the Wednesday lows are not broken, and the SP futures can
close over 1027 on Thursday, then a bottom has a chance of
being in place. That will take some work as the bounces
still are not able to stick.

The way the market acted by dropping 47 points on the SP
futures and 94.25 points on the Nasdaq futures to end the
day, the downside momentum is so strong that we may see a
few more days like this. The possibility of a low on Friday
or Monday could still be in the cards. On Thursday, if there
is early weakness, it must reverse in the first 15-20
minutes to get something going on the upside. If that
doesn't occur, then another sizable drop could be in the
cards before a turn around attempt occurs.

The initial resistance is at the 1007.00-1008.00 area on the
SP futures and the 1360.50-1361.75 area on the Nasdaq
futures. If the market gets up there and the move stalls
out, it sets up a great shorting opportunity. If the market
gets through those areas and the move doesn't quickly
reverse, then the key resistance is at the 1026.00-1027.25
area on the SP futures and the 1391.00-1393.25 area on the
Nasdaq futures. If the market puts together a good enough
rally to clear those areas and the move isn't reversed once
again, then we could continue to run up towards the 1037.50-
1038.50 area on the SP futures and the 1401.00-1402.75 area
on the Nasdaq futures.

The initial support is at the 972.00-970.00 area on the SP
futures and the 1308.50-1306.50 area on the Nasdaq futures.
If those areas are not defended, then we could easily drop
towards the 960.50-959.50 area on the SP futures and the
1284.00-1281.50 area on the Nasdaq futures. If those are
reached and the market cannot quickly reverse, then finding
good support becomes a bit difficult. The next logical area
would be at the 950.50-949.50 area on the SP futures and the
1272.50-1270.50 area on the Nasdaq futures. If those do not
hold, then it looks like the 939.00-938.00 area on the SP
futures and the 1260.00-1258.50 area on the Nasdaq futures
would be "must hold" areas. If those do not hold, then
another big down day is in the works. It's hard for a market
to crash out of the basement, but this market could do just
that if those support areas are not held.

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

1007.00-1008.00
1026.00-1027.25
1037.50-1038.50


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

972.00-970.00
960.50-959.50
950.50-949.50
939.00-938.00


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

1360.50-1361.75
1391.00-1393.25
1401.00-1402.75


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

1308.50-1306.50
1284.00-1281.50
1272.50-1270.50
1260.00-1258.50


December 2008 Dow futures resistance
symbols: emini = ymz8

9460-9468
9637-9645
9879-9885


December 2008 Dow futures support
symbols: emini = ymz8

9122-9114
9038-9031
8904-8897
8838-8831


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

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 10/07/08 - Addition

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

TradeStalker's

R.B.I. Trader's Update

10 / 7 / 2008

(Published Since 1996)

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


Dateline: 9:04 pm eastern time, 10/7/2008

The early trade I was wanting in the morning
already played out after hours, as the ES went
to 998.00 and then reversed back up through
1000.00.

It might not be until Friday / Monday that a good
low is in place, but if the market gets back down
there on Wednesday morning, that setup should
play out well.

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 10/07/08

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

TradeStalker's

R.B.I. Trader's Update

10 / 7 / 2008

(Published Since 1996)

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


Dateline: 7:12 pm eastern time, 10/7/2008


In last night's update I stated:

"If the market opens higher, look to get short as
soon as the upside fizzles and begins to roll
over."

The market popped up on the open and reversed about 15
minutes into the trading day. Off of the 1078.00 high the SP
futures fell to 1049.25 by late morning. After a bounce to
1063.25 the market pulled back. The 1051-1050 area broke and
it then turned into resistance as the market began to tank
again. The 1040.00-1039.50 area was broken, and as stated
last night:

"...if that area isn't defended, then a move
towards the Monday lows, or lower, could be in the
cards."

A bounce back to the down-sloping 60 period ema at 1042.25
on the SP futures was rejected and the market dropped to new
multi-year lows at the close. The SP futures dipped under
1000 to 999.50 and then bounced 7 points to settle well
above fair value.

The free-fall continues, but a decent snap-back could occur
at any time now. The closing Trin was above 3.00, usually a
sign of exhaustion on the downside. In addition to that, my
3 day thrust oscillator closed below -.85 for the last 2
days and that's very compressed. Speaking of compressed, the
4 day volume ratio is down at a miniscule .13, which is as
low as it has been in 2 decades. The trends and momentum are
strong to the downside, but the market rallied almost 20
points on the SP futures before falling apart at the end of
the day on Monday. Also, the SP futures rallied over 50
points in just over an hour late Monday and a swing similar
to one of those could occur before the market decides to
turn back.

On Wednesday look for a buying opportunity if the SP futures
go under 1000.00 and then turn back up through that level in
the first 15 minutes of trading. If that is triggered, keep
any long position on a tight leash. If that plays out,
beware that the first decent bounce will likely set up a
shorting opportunity.

The initial resistance is at the 1020.50-1022.00 area on the
SP futures and the 1365.00-1366.50 area on the Nasdaq
futures. If those are reached and the market does not
reverse, then the downside momentum will have been dented.
The next, and likely a key hurdle is at the 1041.50-1042.00
area on the SP futures and the 1388.50-1390.25 area on the
Nasdaq futures. If the market gets back up there and the
move doesn't reverse, then the 1048.50-1049.50 area on the
SP futures and the 1398.75-1401.50 area on the Nasdaq
futures would be next. If those are broken and not quickly
reversed, then major resistance on Wednesday is at the
1062.00-1063.00 area on the SP futures and the 1414.00-
1415.00 area on the Nasdaq futures. Something extraordinary
would need to occur to see those areas.

The initial support is at the 1000.50-999.50 area on the SP
futures and the 1332.25-1330.50 area on the Nasdaq futures.
A move that reverses through those areas in the early going
would set up a good buying opportunity. If the market cannot
reverse, then the move could extend towards the 992.00-
991.50 area on the SP futures and the 1324.00-1322.50 area
on the Nasdaq futures. If those are broken, then the next
key support is around the 972.00-970.00 area on the SP500
cash. If the market gets hit hard again and that zone
doesn't hold, then the door is opened for a spill towards
the 950.50-949.50 area on the SP500 cash.



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

1020.50-1022.00
1041.50-1042.00
1048.50-1049.50
1062.00-1063.00


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

1000.50-999.50
992.00-991.50
972.00-970.00 {SP500 cash}
950.50-949.50 {SP500 cash}


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

1365.00-1366.50
1388.50-1390.25
1398.75-1401.50
1414.00-1415.00


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

1332.25-1330.50
1324.00-1322.50


December 2008 Dow futures resistance
symbols: emini = ymz8

9665-9675
9818-9822
9878-9884
9981-9988


December 2008 Dow futures support
symbols: emini = ymz8

9463-9457
9378-9373


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

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 10/06/08

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

TradeStalker's

R.B.I. Trader's Update

10 / 06 / 2008

(Published Since 1996)

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


Dateline: 6:41 pm eastern time, 10/6/2008


The market gapped down on Monday and with no reversal in the
first 15 minutes the market kept falling until reaching
1031.00 on the SP futures. A decent bounce followed, as the
SP futures made it back to 1061.00 before stalling out and
turning back down. A drift lower picked up some steam and
sold off sharply to 1009.00 on the SP futures. With just
under 90 minutes left in stock trading, the market turned
back up and were able to push through the 1045-1046 area.
The market kept running to the upside until reaching 1069.25
at the 4 pm close for stocks. After stocks closed the SP
futures pulled back 17.75 points and settled at a discount
to the cash index.

The market is emotion driven and showed today that a grossly
oversold market can reverse and rally sharply. The SP
futures rallied 60 points in just over an hour on Monday
afternoon. The bigger picture trend are still pointing down,
and we have see a lot of failed rallies lately. So, if the
market gets hit again and goes down to test or possibly
break the Monday lows, beware of another reversal. This is
especially the case if the SP500 cash falls to the 972-970
area and then turns up.

We get the Fed Minutes at 2 pm on Tuesday. If the market
opens higher, look to get short as soon as the upside
fizzles and begins to roll over. If that plays out, the
first decent pullback should set up a buying opportunity. If
the market is strong enough to hold the 1040.00-1039.50 area
on the SP futures on a pullback, then the market will be ok.
However, if that area isn't defended, then a move towards
the Monday lows, or lower, could be in the cards.

The initial resistance is at the 1069.50-1070.50 area on the
SP futures and 1427.75-1429.50 area on the Nasdaq futures.
The market is still vulnerable unless those are broken, and
not quickly reversed. If those areas are not a problem, then
the next hurdles would be at the 1082.00-1082.50 area on the
SP futures and 1448.50-1449.25 area on the Nasdaq futures.
If those areas are reached, and the market doesn't pull
back, then the 1088.00-1088.50 area on the SP futures and
1460.50-1462.00 area on the Nasdaq futures would be next. If
the market gets going on the upside, then look for strong
resistance at the 1102.00-1102.50 area on the SP futures and
1473.50-1474.75 area on the Nasdaq futures.

The initial support is at the 1047.50 level on the SP
futures and 1402.00 level on the Nasdaq futures. If those
levels are not quickly reversed, then the first key support
is at the 1040.00-1039.50 area on the SP futures and
1391.50-1390.50 area on the Nasdaq futures. If the market
can not bounce from those areas, then we could head towards
the 1025.00-1023.50 area on the SP futures and 1360.00-
1359.00 area on the Nasdaq futures. If those areas arte not
held then a test of the 1010.00-1009.00 area on the SP
futures and 1345.00-1343.75 area on the Nasdaq futures is
likely in the cards. If there isn't a reversal from a test
of Monday's lows, then it opens the door for a washout to
the 1002.50-1002.00 area on the SP futures and 1335.00-
1334.00 area on the Nasdaq futures. If those are broken, and
the market doesn't quickly reverse, then we could see the
972-970 area on the SP500 cash. If there is a reversal at
that area, it could start a sharp rally.



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

1069.50-1070.50
1082.00-1082.50
1088.00-1088.50
1102.00-1102.50

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

1047.50
1040.00-1039.50
1025.00-1023.50
1010.00-1009.00
1002.50-1002.00
972-970 if a crash-ette

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

1427.75-1429.50
1448.50-1449.25
1460.50-1462.00
1473.50-1474.75

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

1402.00
1391.50-1390.50
1360.00-1359.00
1345.00-1343.75
1335.00-1334.00

December 2008 Dow futures resistance
symbols: emini = ymz8

10073-10079
10172-10176
10231-10235
10231-10235

December 2008 Dow futures support
symbols: emini = ymz8

9933
9688-9682
9547-9542
9497-9492


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

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 10/05/08

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

TradeStalker's

R.B.I. Trader's Update

10 / 5 / 2008

(Published Since 1996)

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


Dateline: 5:29 pm eastern time, 10/5/2008

The market opened higher on Friday and stayed over the
initial resistance and it was basically a trend up move into
the early afternoon. However, after the SP futures were
rejected from just under the 1161.50-1162.00 zone (1161.00
high), it was time to short the market. The SP futures
popped up to 1159.00 and reversed, and the market went trend
down into the close. The SP futures reached the 1102.50-
1100.50 support zone and there was a small bounce into
settlement.

Buyers backed away Friday afternoon and off of the early
afternoon highs, the ES fell 58.50 points, while the NQ lost
87 points and the YM dropped 496 points into the close.
Every index closed at a new multi-year low. The daily
indicators are getting very oversold again. However, with
the new lows on Friday, the market is in deeper trouble than
even I originally felt IF the market cannot hold the 1077-
1076 area on the SP500 cash.

The October 10-11 timeframe could also be important. The
market tends to have a memory for important turns. In that
timeframe we have the 10/10/02 bear market low at 768.63 on
the SP500 cash, and the 10/11/07 all-time high on the SP500
cash at 1576.09. If the market makes a low near the end of
the week at a logical support area (1077-1076, 1062-1060, or
972-970 if we have a crashette) and then turns up, it's
possible that we could look back and see that as an
important turn in the market.

In the meantime, something needs to happen to spark a rally,
otherwise this downside could begin to feed upon itself. As
it stands right now, it will take a break and hold over the
1130.50-1131.00 area on the SP futures to put a dent in the
downside momentum.

On Monday, if the market opens lower, it must reverse in the
first 15 minutes in order to avoid a continuation to test
the big support area on the SP futures. If the market gets
down to the 1077-1076 area on the SP futures and then turn
up, it could be the start of a good rebound. However, if the
market opens higher, beware that the first bounce will
likely be sold as soon as the upside momentum fizzles. Until
proven otherwise, shorting the bounces should still offer
the better odds trades.

The initial resistance is at the 1123.50-1124.00 area on the
SP futures and the 1503.00-1504.00 area on the Nasdaq
futures. If the market doesn't reverse from those areas
early, then the first big hurdles are at the 1130.50-1131.00
area on the SP futures and the 1518.50-1519.75 area on the
Nasdaq futures. If those areas are not a problem then we
could see a run towards the 1138.75-1139.50 area on the SP
futures and the 1535.50-1536.50 area on the Nasdaq futures.
If the market is strong enough to get through those areas
and not quickly reverse, then the 1156.00 level on the SP
futures and the 1552.50 level on the Nasdaq futures would be
next. The major resistance is now at the 1160.50-1161.50
area on the SP futures and the 1560.50-1561.75 area on the
Nasdaq futures.

The initial support is at the 1102.50-1100.50 area on the SP
futures and the 1474.75-1472.50 area on the Nasdaq futures.
If those are cut through and the market doesn't quickly
reverse, then we could head for the 1088.50-1087.50 area on
the SP futures and the 1459.50-1458.00 area on the Nasdaq
futures. If the market doesn't reverse from those areas,
then major support is at the 1077.00-1076.00 area on the SP
Cash and the 1445.00-1442.50 area on the Nasdaq futures.
If the market gets down there and reverses, it could set up
a good reversal. If that area isn't reversed, then we have
another crashette day with the 1062-1060 area on the SP500
Cash as the last good support at this time.

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

1123.50-1124.00
1130.50-1131.00
1138.75-1139.50
1156.00
1160.50-1161.50


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

1102.50-1100.50
1088.50-1087.50
1077.00-1076.00 {SP500 cash} MAJOR
1062-1060 {SP500 cash} 8/13/04 low area
972-970 if a crash-ette

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

1503.00-1504.00
1518.50-1519.75
1535.50-1536.50
1552.50
1560.50-1561.75


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

1474.75-1472.50
1459.50-1458.00
1445.00-1442.50


December 2008 Dow futures resistance
symbols: emini = ymz8

10530-10535
10586-10591
10667-10672
10770
10821-10827


December 2008 Dow futures support
symbols: emini = ymz8

10331-10319
10202-10194
10084-10076


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

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 10/02/08

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

TradeStalker's

R.B.I. Trader's Update

10 / 2 / 2008

(Published Since 1996)

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


Dateline: 6:48 pm eastern time, 10/2/2008

NOTE: There will be no Intraday Updates after 2pm
eastern time on Friday. I'll be at my son's football game.

The market opened lower on Thursday and the 1153-1152 zone
was sliced through and it turned the trends down. Without a
hint of turning, the downside continued until reaching
1125.50 on the SP futures. The market turned around and the
SP futures went on a run up to 1139.75, but the move fizzled
and the downside continued. It was a choppy trend down move
to the support at the 1119-1118 area on the SP futures and
the 1502-1500 area on the Nasdaq futures. A bounce off of
the 1119.50 level on the SP futures and the 1499.50 level on
the Nasdaq futures around 2:40 pm eastern time failed and
the futures went to lower lows before bouncing back into
settlement.

On Thursday the NYSE Composite made a new low close for the
year, as did the Value Line and Nasdaq 100 indices. The Dow
and SP500 did not make a new low for the year. The VIX
jumped again to close over 45, a rare site that is only
exceeded by the readings in 1987. The market just ground
lower on Thursday and a faster drop that reversed on good
volume would have been better to form a bottom.

This last leg down began with an August high and it should
lead to an October low. The SP500 cash lost 30% which is
close to the norm. There could be more downside coming,
possibly to the 1077 area on the SP500, but the market
shouldn't be too far away from a good rally, and possibly a
good bottom. Another big plunge that can reverse from near
that 1077 area might be what's needed to finish this
downside.

We get the Employment report before the open on Friday.
Unless the market can break and hold over the initial
resistance, the bears are in the driver's seat and the short
side should offer the better trades. However, if there is a
break and hold over the initial resistance, the market could
get a decent rally going.

The initial resistance is at the 1229.00-1129.50 area on the
SP futures and the 1515.00-1515.75 area on the Nasdaq
futures. If the market cannot get through those areas, the
pressure is still on the market. If those are cleared and
not quickly reversed, then the next big resistance is at the
1139.75-1140.75 area on the SP futures and the 1529.25-
1531.00 area on the Nasdaq futures. If the market is strong
enough to get through those areas, then the key resistance
on Friday is at the 1151.50-1152.50 area on the SP futures
and the 1551.00-1552.25 area on the Nasdaq futures. If there
is a big rally, then we could see the 1161.50-1162.00 area
on the SP futures and the 1563.50-1564.50 area on the Nasdaq
futures.

The initial support is at the 1115.50-1114.50 area on the SP
futures and the 1495.50-1494.00 area on the Nasdaq futures.
If the market cannot hold those areas, then a test of the
1108.00 level on the SP futures and the 1485.00 level on the
Nasdaq futures is likely in the cards. If the market can
reverse from around those areas, we could see a decent snap-
back rally occur. If they cannot hold around those levels,
then a drop to the 1102.50-1100.50 area on the SP futures
and the 1478.00-1476.50 area on the Nasdaq futures would
need to hold to avoid a trip towards the 1077-1074 area on
the SP500 cash. If the market gets down there, it will be
time to look for buying opportunities at what could turn out
to be bargain prices for a good year end rally.

NOTE: There will be no Intraday Updates after 2pm
eastern time on Friday. I'll be at my son's football game.

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

1229.00-1129.50
1139.75-1140.75
1151.50-1152.50
1161.50-1162.00


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

1115.50-1114.50
1108.00
1102.50-1100.50
1077-1074 {SP500 cash}


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

1515.00-1515.75
1529.25-1531.00
1551.00-1552.25
1563.50-1564.50


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

1495.50-1494.00
1485.00
1478.00-1476.50


December 2008 Dow futures resistance
symbols: emini = ymz8

10585-10589
10668-10678
10738-10744
10807-10814


December 2008 Dow futures support
symbols: emini = ymz8

10468-10460
10408
10342-10334


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

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 10/01/08

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

TradeStalker's

R.B.I. Trader's Update

10 / 1 / 2008

(Published Since 1996)

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


Dateline: 6:12 pm eastern time, 10/1/2008


The market opened lower on Wednesday and just under the
1159.50-1259.00 support area. After falling to 1149.75, the
SP futures bounced back to 1158.00 but the move didn't stick
and the downside resumed. The downside lost momentum as it
approached our 1143.00-1142.00 key support and after making
a low at 1143.75, the SP futures turned up and broke up
through a falling wedge pattern. That caused a sprint to
1156.50 on the SP futures and the market pulled back a bit.
The 1152.00 updated support held and the market sprinted
higher. The SP futures reached 1172.75, then fell fast to
1153.25. The market quickly reversed (6 ES points in 1
minute) and the SP futures tested its high. The SP futures
reached 1173.00 and reversed, leaving a double top in place.
A drop to 1161.50 was reversed and the market bounced back
into the close.

The futures settled well above fair value on Wednesday, as
confidence builds that the market is out of trouble. We
shall see about that, however a pretty classic climax bottom
looks to be in place. In any case, the market is having
trouble staying over 1170 on the SP futures for very long.
Until they can get over that 1170 level and not quickly
reverse, both sides will be in play.

On Thursday look for early strength to fizzle for a shorting
opportunity. A pop over 1170 that reverses should set up a
decent trade. If that plays out, a pullback should hold at
the 1153.00-1152.00 area on the SP futures. If that zone is
broken and not quickly reversed, then the trends will roll
over.

The initial resistance is at the 1172.50-1173.00 area on the
SP futures and the 1583.50-1584.00 area on the Nasdaq
futures. If the market doesn't reverse from those areas,
then a push towards the 1176.00-1177.00 area on the SP
futures and the 1589.00-1591.50 area on the Nasdaq futures
could be in the cards. If the market gets up there and
doesn't show any signs of reversing, then a move to the
1180.25-1181.00 area on the SP futures and the 1610.50-
1612.00 area on the Nasdaq futures is likely before the
market turns back down. If that doesn't happen and instead
the market blows through those areas, then the 1188.00-
1189.00 area on the SP futures and the 1620.00-1621.00 area
on the Nasdaq futures would be next. If those are not a
problem then the market is in melt-up mode and we could see
the 1194.50-1195.00 area on the SP futures and the 1628.00-
1630.00 area on the Nasdaq futures on Thursday.

The initial support is at the 1161.50 level on the SP
futures and the 1563.00 level on the Nasdaq futures. If
those are broken and the market doesn't turn right back up,
then the door is open for a test of the 1153.00-1152.00 area
on the SP futures and the 1557.25-1556.00 area on the Nasdaq
futures. Those spike lows from Wednesday will hold if the
market is in good shape. If those do not hold, then the
major support is down at the 1143.00-1142.00 area on the SP
futures and the 1547.50-1545.75 area on the Nasdaq futures.
Those areas shouldn't break if the market is going to avoid
a retest of this week's lows. If that is going to occur,
beware that a good rebound could occur if the 1133.00-
1132.00 area on the SP futures and the 1534.50-1532.50 area
on the Nasdaq futures are reached and the market can quickly
turn back up.

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

1172.50-1173.00
1176.00-1177.00
1180.25-1181.00
1188.00-1189.00
1194.50-1195.00


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

1161.50
1153.00-1152.00
1143.00-1142.00
1133.00-1132.00


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

1583.50-1584.00
1589.00-1591.50
1610.50-1612.00
1620.00-1621.00
1628.00-1630.00


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

1563.00
1557.25-1556.00
1547.50-1545.75
1534.50-1532.50


December 2008 Dow futures resistance
symbols: emini = ymz8

10884-10889
10900-10904
10938-10944
11018-11023
11071-11078


December 2008 Dow futures support
symbols: emini = ymz8

10789
10743-10738
10657-10651
10538-10533


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

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