HOW OUR DAY WENT:
Members were told that if there was
early strength on Thursday, look for a reversal between
9:50 am and 10:10 am to set up a good shorting opportunity.
The ES ran up to 1101.00 at 10am, then reversed and the
downside was in gear. The ES was sold off down to 1088.50
before the move stopped, right at the 1089.00-1088.50 zone
on the ES where we locked in some daytrade profits per
instant message. Updated resistance was not exceeded as
we were short / shorting bounces (expecting to reverse
under resistance) until there was a reversal with 15
minutes left.
Good Trading,
Mike Reed
TradeStalker.com
Thursday, November 19, 2009
Thursday, November 12, 2009
TradeStalker's RBI Update 11/11/09
.................................................
TradeStalker's
R.B.I. Trader's Update
11 / 11 / 2009
(Published Since 1996)
...............................................
Dateline: 6:41 pm eastern time, 11/11/2009
The market gapped up into new high territory for the year on
Wednesday, and after a quick dip from 1098.75 to 1095.25,
the ES headed on up to the 1102.50-1104.00 resistance zone.
The move stalled out, then reversed and a selloff was in
gear. The 1093.00-1092.50 area was given for the key
support, and the move was reversed from 1092.25 and a decent
bounce followed. It didn't stick though, and the market
dropped back to test the early lows. They were barely
broken, and then the market quickly reversed back to the
upside. The market was able to hold together and the ES
rallied back to the 1097.50 level again by the close.
Both Monday and Wednesday had gap up opens, as the buying is
piling on. The ES has reacted to good resistance zones on
the way up, but then the updated support areas would hold
and the upside then continues. A case in point was on
Wednesday. Even though the ES nailed and reversed from a
good resistance zone at the 1102.50-1104.00 area, it held
really close to the 1092.50 support and quickly reversed and
then the market finished the day on an up note.
The intermediate term internal gauges began to turn up a few
days ago... which is odd near a new high. The short term
gauges reached extreme overbought readings, and with the
market mostly resting the last 2 days most are back to
neutral. Up at these areas, the market should be at a key
juncture short term. It looks like another pullback must
find good buying no lower than the 1091.25 Wednesday low on
the ES. If that area is not defended, then there is
something different going on, and then the bounces would set
up shorting opportunities. It could cause something that gets
momentum if everyone tries to squeeze out of the exit door at
the same time.
Last night I said we were getting the Initial Claims and
Continuing Claims before the Wednesday opening. I was a day
early on that. We will get that data at 8:30 am, before the
Thursday open for stocks. Look for early strength that
reverses in the first 20-40 minutes to set up a shorting
opportunity. If that plays out, then the first decent
pullback must stay over the 1091.25 level on the ES and the
1770.75 level on the NQ, along with the 10246 reversal level
on the Dow cash. If those are broken, then odds that the
bounces will not stick will increase. If that occurs, then
bounce that then stalls out around the 1093-1094 area could
set up a good shorting opportunity.
December 2009 SP futures resistance
symbols: emini = esz9 / big contract =spz9
1097.50-1098.00
1102.50-1104.00
1108.25-1109.00
December 2009 SP futures support
symbols: emini = esz9 / big contract =spz9
1091.25
1089.00-1088.50
1085.50-1085.00
1080.50-1079.75
1074.50-1074.00
December 2009 Nasdaq futures resistance
symbols: emini = nqz9 / big contract = ndz9
1785.00-1785.50
1791.50-1792.50
1798.75-1799.50
December 2009 Nasdaq futures support
symbols: emini = nqz9 / big contract = ndz9
1770.75
1768.50-1767.00
1763.00-1762.25
1752.50-1751.50
1742.00-1740.75
December 2009 Dow futures resistance
symbols: emini = ymz9
10267-10270
10307-10312
10351-10357
December 2009 Dow futures support
symbols: emini = ymz9
10211
10198-10193
10165-10162
10114-10108
10041-10037
CLICK HERE for FREE Trading Articles and Videos!
Good Trading,
Mike Reed
TradeStalker.com
Copyright (c) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
This publication's primary focus is trading the index
futures. However, you can also use my nightly updates to
trade the following ETF's (SPY), (QQQQ), (SDS), (QID),
(DIA), and (DOG)
www.TradeStalker.com
PO Box 9783, Ft Wayne, IN, 46899
Disclaimer
The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.
We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************
TradeStalker's
R.B.I. Trader's Update
11 / 11 / 2009
(Published Since 1996)
...............................................
Dateline: 6:41 pm eastern time, 11/11/2009
The market gapped up into new high territory for the year on
Wednesday, and after a quick dip from 1098.75 to 1095.25,
the ES headed on up to the 1102.50-1104.00 resistance zone.
The move stalled out, then reversed and a selloff was in
gear. The 1093.00-1092.50 area was given for the key
support, and the move was reversed from 1092.25 and a decent
bounce followed. It didn't stick though, and the market
dropped back to test the early lows. They were barely
broken, and then the market quickly reversed back to the
upside. The market was able to hold together and the ES
rallied back to the 1097.50 level again by the close.
Both Monday and Wednesday had gap up opens, as the buying is
piling on. The ES has reacted to good resistance zones on
the way up, but then the updated support areas would hold
and the upside then continues. A case in point was on
Wednesday. Even though the ES nailed and reversed from a
good resistance zone at the 1102.50-1104.00 area, it held
really close to the 1092.50 support and quickly reversed and
then the market finished the day on an up note.
The intermediate term internal gauges began to turn up a few
days ago... which is odd near a new high. The short term
gauges reached extreme overbought readings, and with the
market mostly resting the last 2 days most are back to
neutral. Up at these areas, the market should be at a key
juncture short term. It looks like another pullback must
find good buying no lower than the 1091.25 Wednesday low on
the ES. If that area is not defended, then there is
something different going on, and then the bounces would set
up shorting opportunities. It could cause something that gets
momentum if everyone tries to squeeze out of the exit door at
the same time.
Last night I said we were getting the Initial Claims and
Continuing Claims before the Wednesday opening. I was a day
early on that. We will get that data at 8:30 am, before the
Thursday open for stocks. Look for early strength that
reverses in the first 20-40 minutes to set up a shorting
opportunity. If that plays out, then the first decent
pullback must stay over the 1091.25 level on the ES and the
1770.75 level on the NQ, along with the 10246 reversal level
on the Dow cash. If those are broken, then odds that the
bounces will not stick will increase. If that occurs, then
bounce that then stalls out around the 1093-1094 area could
set up a good shorting opportunity.
December 2009 SP futures resistance
symbols: emini = esz9 / big contract =spz9
1097.50-1098.00
1102.50-1104.00
1108.25-1109.00
December 2009 SP futures support
symbols: emini = esz9 / big contract =spz9
1091.25
1089.00-1088.50
1085.50-1085.00
1080.50-1079.75
1074.50-1074.00
December 2009 Nasdaq futures resistance
symbols: emini = nqz9 / big contract = ndz9
1785.00-1785.50
1791.50-1792.50
1798.75-1799.50
December 2009 Nasdaq futures support
symbols: emini = nqz9 / big contract = ndz9
1770.75
1768.50-1767.00
1763.00-1762.25
1752.50-1751.50
1742.00-1740.75
December 2009 Dow futures resistance
symbols: emini = ymz9
10267-10270
10307-10312
10351-10357
December 2009 Dow futures support
symbols: emini = ymz9
10211
10198-10193
10165-10162
10114-10108
10041-10037
CLICK HERE for FREE Trading Articles and Videos!
Good Trading,
Mike Reed
TradeStalker.com
Copyright (c) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
This publication's primary focus is trading the index
futures. However, you can also use my nightly updates to
trade the following ETF's (SPY), (QQQQ), (SDS), (QID),
(DIA), and (DOG)
www.TradeStalker.com
PO Box 9783, Ft Wayne, IN, 46899
Disclaimer
The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.
We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************
Today's Trading Recap: 11/11/09
HOW OUR DAY WENT:
The last sentence in last night's
update our Real Time members were told:
"If the market is not making a double top, and the
1098.50 area is exceeded, then the 1102.50-1104.00 could
be seen before there is another top put in place."
The ES rallied up to a 1103.25 then stalled and reversed
back down. Members were then given the 1093.00-1092.50
area for support, and the ES fell 11 points to 1092.25
before reversing back up.
Good Trading,
Mike Reed
TradeStalker.com
The last sentence in last night's
update our Real Time members were told:
"If the market is not making a double top, and the
1098.50 area is exceeded, then the 1102.50-1104.00 could
be seen before there is another top put in place."
The ES rallied up to a 1103.25 then stalled and reversed
back down. Members were then given the 1093.00-1092.50
area for support, and the ES fell 11 points to 1092.25
before reversing back up.
Good Trading,
Mike Reed
TradeStalker.com
TradeStalker's RBI Update 11/10/09
.................................................
TradeStalker's
R.B.I. Trader's Update
11/ 10 / 2009
(Published Since 1996)
...............................................
Dateline: 6:19 pm eastern time, 11/10/2009
We came into Tuesday expecting a two sided day with a
downside bias. We were also alert for a reversal from
initial support, and the ES opened lower and then turned up
from 1 tick above the 1087.50-1087.00 initial support. The
ES ran up 6.75 points to 1094.50 and then reversed. That set
up the short side, and the first bounce reversed from just
under updated sell zone and went to a 1085.00 low. The first
bounce to 1089.00 was rejected and a little double bottom
was made at 1086.25 then the ES bounced again. The move
fizzled and reversed from 1093.25, setting up a short, and
the ES dropped to 1089.00. That was right at new key support
at the 1089.00-1088.50 area and the market firmed into the
close.
The indicators have backed out of the extreme overbought
status they were in, but if the Vix reverses and the initial
support is not held on Wednesday, the market could get hit
with a decent sized selloff. The market was weak in the
early going on Tuesday, but then found a comfort area and
rallied back. The 1089.00-1088.50 area on the ES offered
resistance on the bounces after the early drop on Tuesday.
Then, when the 1088.50-1089.00 area was broken, that area
held on the 2 pullbacks so it should be pivotal early on
Wednesday.
At the moment the market looks pretty strong. However, we
get the Initial Claims and Continuing Claims before the open
on Wednesday. If these numbers don't meet expectations, then
the market could get hit fairly hard. If there is a pop up
open that reverses from 1093.50-1094.25 area on the ES, then
a drop to the 1089.00-1088.50 could be underway. If the
market is still strong and in good shape, then that initial
support should hold. If a pullback is sharp, and cuts
through the initial support, then the trends could be
rolling over. If the ES gets over the 1094.50 level and
isn't reversed, then the ES still needs to get over 1098.50
to make a new high on this leg up. If the market is not
making a double top, and the 1098.50 area is exceeded, then
the 1102.50-1104.00 could be seen before there is another
top put in place.
NOTE: Due to a doctors appointment there will not be any
intraday updates after 12 noon eastern time.
December 2009 SP futures resistance
symbols: emini = esz9 / big contract =spz9
1093.50-1094.25
1098.00-1098.50
1102.50-1104.00
December 2009 SP futures support
symbols: emini = esz9 / big contract =spz9
1089.00-1088.50
1085.50-1085.00
1080.50-1079.75
1074.50-1074.00
1068.00-1067.75
December 2009 Nasdaq futures resistance
symbols: emini = nqz9 / big contract = ndz9
1775.75-1777.25
1784.25-1785.00
1790.50-1791.50
December 2009 Nasdaq futures support
symbols: emini = nqz9 / big contract = ndz9
1767.00-1768.50
1763.00-1762.25
1752.50-1751.50
1742.00-1740.75
December 2009 Dow futures resistance
symbols: emini = ymz9
10227-10232
10245-10250
10295-10299
December 2009 Dow futures support
symbols: emini = ymz9
10198-10193
10165-10162
10114-10108
10041-10037
---------------------------
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
www.TradeStalker.com
http://www.TradeStalker.com
PO Box 9783, Ft Wayne, IN, 46899
Disclaimer
The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.
We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************
TradeStalker's
R.B.I. Trader's Update
11/ 10 / 2009
(Published Since 1996)
...............................................
Dateline: 6:19 pm eastern time, 11/10/2009
We came into Tuesday expecting a two sided day with a
downside bias. We were also alert for a reversal from
initial support, and the ES opened lower and then turned up
from 1 tick above the 1087.50-1087.00 initial support. The
ES ran up 6.75 points to 1094.50 and then reversed. That set
up the short side, and the first bounce reversed from just
under updated sell zone and went to a 1085.00 low. The first
bounce to 1089.00 was rejected and a little double bottom
was made at 1086.25 then the ES bounced again. The move
fizzled and reversed from 1093.25, setting up a short, and
the ES dropped to 1089.00. That was right at new key support
at the 1089.00-1088.50 area and the market firmed into the
close.
The indicators have backed out of the extreme overbought
status they were in, but if the Vix reverses and the initial
support is not held on Wednesday, the market could get hit
with a decent sized selloff. The market was weak in the
early going on Tuesday, but then found a comfort area and
rallied back. The 1089.00-1088.50 area on the ES offered
resistance on the bounces after the early drop on Tuesday.
Then, when the 1088.50-1089.00 area was broken, that area
held on the 2 pullbacks so it should be pivotal early on
Wednesday.
At the moment the market looks pretty strong. However, we
get the Initial Claims and Continuing Claims before the open
on Wednesday. If these numbers don't meet expectations, then
the market could get hit fairly hard. If there is a pop up
open that reverses from 1093.50-1094.25 area on the ES, then
a drop to the 1089.00-1088.50 could be underway. If the
market is still strong and in good shape, then that initial
support should hold. If a pullback is sharp, and cuts
through the initial support, then the trends could be
rolling over. If the ES gets over the 1094.50 level and
isn't reversed, then the ES still needs to get over 1098.50
to make a new high on this leg up. If the market is not
making a double top, and the 1098.50 area is exceeded, then
the 1102.50-1104.00 could be seen before there is another
top put in place.
NOTE: Due to a doctors appointment there will not be any
intraday updates after 12 noon eastern time.
December 2009 SP futures resistance
symbols: emini = esz9 / big contract =spz9
1093.50-1094.25
1098.00-1098.50
1102.50-1104.00
December 2009 SP futures support
symbols: emini = esz9 / big contract =spz9
1089.00-1088.50
1085.50-1085.00
1080.50-1079.75
1074.50-1074.00
1068.00-1067.75
December 2009 Nasdaq futures resistance
symbols: emini = nqz9 / big contract = ndz9
1775.75-1777.25
1784.25-1785.00
1790.50-1791.50
December 2009 Nasdaq futures support
symbols: emini = nqz9 / big contract = ndz9
1767.00-1768.50
1763.00-1762.25
1752.50-1751.50
1742.00-1740.75
December 2009 Dow futures resistance
symbols: emini = ymz9
10227-10232
10245-10250
10295-10299
December 2009 Dow futures support
symbols: emini = ymz9
10198-10193
10165-10162
10114-10108
10041-10037
---------------------------
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
www.TradeStalker.com
http://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.
*************************************************
Today's Trading Recap: 11/10/09
HOW OUR DAY WENT:
We came into Tuesday expecting a two
sided day with a downside bias. The ES opened lower and
then turned up from 1 tick above the 1087.50-1087.00 key
initial support. The ES ran up 6.75 points to 1094.50
and then reversed. That set up the short side, and the
first bounce reversed from just under updated sell zone
and went to a 1085.00 low. The first bounce to 1089.00
was rejected and a little double bottom was made at
1086.25 then the ES bounced again. The move fizzled
and reversed from 1093.25, setting up a short, and the
ES dropped to 1089.00 - right at new key support at the
1089.00-1088.50 area.
Good Trading,
Mike Reed
TradeStalker.com
We came into Tuesday expecting a two
sided day with a downside bias. The ES opened lower and
then turned up from 1 tick above the 1087.50-1087.00 key
initial support. The ES ran up 6.75 points to 1094.50
and then reversed. That set up the short side, and the
first bounce reversed from just under updated sell zone
and went to a 1085.00 low. The first bounce to 1089.00
was rejected and a little double bottom was made at
1086.25 then the ES bounced again. The move fizzled
and reversed from 1093.25, setting up a short, and the
ES dropped to 1089.00 - right at new key support at the
1089.00-1088.50 area.
Good Trading,
Mike Reed
TradeStalker.com
TradeStalker's RBI Update 11/09/09
.................................................
TradeStalker's
R.B.I. Trader's Update
11 / 9 / 2009
(Published Since 1996)
...............................................
Dateline: 6:06 pm eastern time, 11/9/2009
The market gapped up on Monday and it was a steady trend-up
day from the get-go. There were small reactions at
resistance areas on the way up, however the pullbacks were
very small and well contained as the ES grinded its way to
1092.00 just before settlement.
The Dow and Nasdaq 100 both made new closing highs on
Monday, while the SP500 didn't quite make it. The market
looks to be in a bit of a melt-up move, but a breakout to a
new high on the SP500 should have a very hard time on
sticking. The internal gauges are near the polar opposite as
they were just over a week ago, with the SP500 closing at
1036.19. The closing Trin on that day was just under 3.00,
an extremely high level of fear. On Monday's close, the Trin
was a miniscule .28, showing signs of panic buying as the
up/down volume ratio on the NYSE was 18 to 1. Along with
this, my RBI oscillator spiked into overbought status and
the 3 Day Thrust closed at +.65.
When the indicators get to these extremes, the odds favor
being careful on the long side and be heads up for a
reversal pattern. At the moment, the market will be ok
unless the initial support is not held. So, look for early
strength to set up a shorting opportunity, and if the market
obliges be alert for a reversal from initial support. If
that is not held, then odds of the bounces failing will go
up.
December 2009 SP futures resistance
symbols: emini = esz9 / big contract =spz9
1092.00-1092.50
1098.00-1098.50
1102.50-1104.00
December 2009 SP futures support
symbols: emini = esz9 / big contract =spz9
1087.50-1087.00
1080.50-1079.75
1074.50-1074.00
December 2009 Nasdaq futures resistance
symbols: emini = nqz9 / big contract = ndz9
1767.50-1768.25
1775.75-1777.25
1784.50-1786.00
December 2009 Nasdaq futures support
symbols: emini = nqz9 / big contract = ndz9
1761.50-1760.25
1752.50-1751.50
1742.00-1740.75
December 2009 Dow futures resistance
symbols: emini = ymz9
10195-10200
10240-10245
10295-10299
December 2009 Dow futures support
symbols: emini = ymz9
10163-10157
10114-10108
10041-10037
CLICK HERE for FREE Trading Articles and Videos!
Good Trading,
Mike Reed
TradeStalker.com
Copyright (c) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
This publication's primary focus is trading the index
futures. However, you can also use my nightly updates to
trade the following ETF's (SPY), (QQQQ), (SDS), (QID),
(DIA), and (DOG)
www.TradeStalker.com
PO Box 9783, Ft Wayne, IN, 46899
Disclaimer
The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.
We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************
TradeStalker's
R.B.I. Trader's Update
11 / 9 / 2009
(Published Since 1996)
...............................................
Dateline: 6:06 pm eastern time, 11/9/2009
The market gapped up on Monday and it was a steady trend-up
day from the get-go. There were small reactions at
resistance areas on the way up, however the pullbacks were
very small and well contained as the ES grinded its way to
1092.00 just before settlement.
The Dow and Nasdaq 100 both made new closing highs on
Monday, while the SP500 didn't quite make it. The market
looks to be in a bit of a melt-up move, but a breakout to a
new high on the SP500 should have a very hard time on
sticking. The internal gauges are near the polar opposite as
they were just over a week ago, with the SP500 closing at
1036.19. The closing Trin on that day was just under 3.00,
an extremely high level of fear. On Monday's close, the Trin
was a miniscule .28, showing signs of panic buying as the
up/down volume ratio on the NYSE was 18 to 1. Along with
this, my RBI oscillator spiked into overbought status and
the 3 Day Thrust closed at +.65.
When the indicators get to these extremes, the odds favor
being careful on the long side and be heads up for a
reversal pattern. At the moment, the market will be ok
unless the initial support is not held. So, look for early
strength to set up a shorting opportunity, and if the market
obliges be alert for a reversal from initial support. If
that is not held, then odds of the bounces failing will go
up.
December 2009 SP futures resistance
symbols: emini = esz9 / big contract =spz9
1092.00-1092.50
1098.00-1098.50
1102.50-1104.00
December 2009 SP futures support
symbols: emini = esz9 / big contract =spz9
1087.50-1087.00
1080.50-1079.75
1074.50-1074.00
December 2009 Nasdaq futures resistance
symbols: emini = nqz9 / big contract = ndz9
1767.50-1768.25
1775.75-1777.25
1784.50-1786.00
December 2009 Nasdaq futures support
symbols: emini = nqz9 / big contract = ndz9
1761.50-1760.25
1752.50-1751.50
1742.00-1740.75
December 2009 Dow futures resistance
symbols: emini = ymz9
10195-10200
10240-10245
10295-10299
December 2009 Dow futures support
symbols: emini = ymz9
10163-10157
10114-10108
10041-10037
CLICK HERE for FREE Trading Articles and Videos!
Good Trading,
Mike Reed
TradeStalker.com
Copyright (c) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
This publication's primary focus is trading the index
futures. However, you can also use my nightly updates to
trade the following ETF's (SPY), (QQQQ), (SDS), (QID),
(DIA), and (DOG)
www.TradeStalker.com
PO Box 9783, Ft Wayne, IN, 46899
Disclaimer
The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.
We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************
Today's Trading Recap: 11/09/09
HOW OUR DAY WENT:
The market gapped up on the open and
the pullbacks were shallow, so the group was told that
a trend-up day was in gear as long as the ES didn't
dip more than 2.25 points. We had 2 scalp shorts as the
ES had reactions at resistance areas, but the updated
support held all the way up, and per the last update a
new high was made with 5 minutes left in stock trading.
Good Trading,
Mike Reed
TradeStalker.com
The market gapped up on the open and
the pullbacks were shallow, so the group was told that
a trend-up day was in gear as long as the ES didn't
dip more than 2.25 points. We had 2 scalp shorts as the
ES had reactions at resistance areas, but the updated
support held all the way up, and per the last update a
new high was made with 5 minutes left in stock trading.
Good Trading,
Mike Reed
TradeStalker.com
Sunday, November 08, 2009
TradeStalker's RBI Update 11/08/09
.................................................
TradeStalker's
R.B.I. Trader's Update
11 / 8 / 2009
(Published Since 1996)
...............................................
Dateline: 5:26 pm eastern time, 11/8/2009
The market opened lower on Friday, and that weakness was
immediately reversed and the ES ran up from 1055.50 to
1061.25 in the first 40 minutes of trading. That was just a
brief poke over the 1067.75-1068.25 resistance, and after it
reversed the ES quickly fell 11+ points to 1057.50. That
move was reversed as the market stayed range-bound, and the
ES rallied back to the 1067.75-1068.25 resistance zone. The
ES backed off from 1067.75, dropping 6 points before
reversing back up from a 1061.50 pullback low. That low was
made with an hour left in trading, and the market rallied
back to test the afternoon highs at the close.
The market slowed down and we had a trading range day on
Friday. However, the theme has been failed rallies and then
the quick pullbacks are reversed. That makes for a 2-sided
trade, however it looks like the market could be set up for
another decent selloff. A few of the internal gauges are
reaching overbought status. In addition, the Vix has dropped
too far too fast. From the 31.84 high it made last Monday
morning, the Vix dropped 32% to 24.06 on Friday. That is an
enormously fast move for implied volatility, and showing a
very complacent market. This is happening as the SP500 cash
is near the bottom of the old trading range at 1074.31---the
spot from where they broke/accelerated to the downside on
October 26th. It also coincides with the Fib .618
retracement at 1073.88.
That said, since neither side is able to stick, look for
early strength to set up a shorting opportunity as soon as
the upside stalls/reverses, especially if the ES rejects the
1071.50-1072.25 resistance area. If the market obliges, then
a pullback will need to be reversed from the initial support
areas. If that occurs, then we can get another bounce.
However, if the late Friday lows are broken, then chances
are pretty good that a top of some sort is in place and
another leg down could be in gear.
December 2009 SP futures resistance
symbols: emini = esz9 / big contract =spz9
1067.75-1068.25
1071.50-1072.25 **major
1076.75-1078.00
December 2009 SP futures support
symbols: emini = esz9 / big contract =spz9
1062.00-1061.50
1056.00-1055.50
1050.50-1049.50
December 2009 Nasdaq futures resistance
symbols: emini = nqz9 / big contract = ndz9
1730.50-1732.00
1736.00-1736.50 **major
1742.25-1743.50
December 2009 Nasdaq futures support
symbols: emini = nqz9 / big contract = ndz9
1723.00-1722.25
1715.25-1714.50
1708.25-1707.50
December 2009 Dow futures resistance
symbols: emini = ymz9
10004-10007
10034-10038 **major
10080-10085
December 2009 Dow futures support
symbols: emini = ymz9
9944-9938
9893-9890
9838-9832
CLICK HERE for FREE Trading Articles and Videos!
Good Trading,
Mike Reed
TradeStalker.com
Copyright (c) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
This publication's primary focus is trading the index
futures. However, you can also use my nightly updates to
trade the following ETF's (SPY), (QQQQ), (SDS), (QID),
(DIA), and (DOG)
www.TradeStalker.com
PO Box 9783, Ft Wayne, IN, 46899
Disclaimer
The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.
We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************
TradeStalker's
R.B.I. Trader's Update
11 / 8 / 2009
(Published Since 1996)
...............................................
Dateline: 5:26 pm eastern time, 11/8/2009
The market opened lower on Friday, and that weakness was
immediately reversed and the ES ran up from 1055.50 to
1061.25 in the first 40 minutes of trading. That was just a
brief poke over the 1067.75-1068.25 resistance, and after it
reversed the ES quickly fell 11+ points to 1057.50. That
move was reversed as the market stayed range-bound, and the
ES rallied back to the 1067.75-1068.25 resistance zone. The
ES backed off from 1067.75, dropping 6 points before
reversing back up from a 1061.50 pullback low. That low was
made with an hour left in trading, and the market rallied
back to test the afternoon highs at the close.
The market slowed down and we had a trading range day on
Friday. However, the theme has been failed rallies and then
the quick pullbacks are reversed. That makes for a 2-sided
trade, however it looks like the market could be set up for
another decent selloff. A few of the internal gauges are
reaching overbought status. In addition, the Vix has dropped
too far too fast. From the 31.84 high it made last Monday
morning, the Vix dropped 32% to 24.06 on Friday. That is an
enormously fast move for implied volatility, and showing a
very complacent market. This is happening as the SP500 cash
is near the bottom of the old trading range at 1074.31---the
spot from where they broke/accelerated to the downside on
October 26th. It also coincides with the Fib .618
retracement at 1073.88.
That said, since neither side is able to stick, look for
early strength to set up a shorting opportunity as soon as
the upside stalls/reverses, especially if the ES rejects the
1071.50-1072.25 resistance area. If the market obliges, then
a pullback will need to be reversed from the initial support
areas. If that occurs, then we can get another bounce.
However, if the late Friday lows are broken, then chances
are pretty good that a top of some sort is in place and
another leg down could be in gear.
December 2009 SP futures resistance
symbols: emini = esz9 / big contract =spz9
1067.75-1068.25
1071.50-1072.25 **major
1076.75-1078.00
December 2009 SP futures support
symbols: emini = esz9 / big contract =spz9
1062.00-1061.50
1056.00-1055.50
1050.50-1049.50
December 2009 Nasdaq futures resistance
symbols: emini = nqz9 / big contract = ndz9
1730.50-1732.00
1736.00-1736.50 **major
1742.25-1743.50
December 2009 Nasdaq futures support
symbols: emini = nqz9 / big contract = ndz9
1723.00-1722.25
1715.25-1714.50
1708.25-1707.50
December 2009 Dow futures resistance
symbols: emini = ymz9
10004-10007
10034-10038 **major
10080-10085
December 2009 Dow futures support
symbols: emini = ymz9
9944-9938
9893-9890
9838-9832
CLICK HERE for FREE Trading Articles and Videos!
Good Trading,
Mike Reed
TradeStalker.com
Copyright (c) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
This publication's primary focus is trading the index
futures. However, you can also use my nightly updates to
trade the following ETF's (SPY), (QQQQ), (SDS), (QID),
(DIA), and (DOG)
www.TradeStalker.com
PO Box 9783, Ft Wayne, IN, 46899
Disclaimer
The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.
We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************
Today's Trading Recap: 11/06/09
HOW OUR DAY WENT:
The Employment data gave an emotional
down open, and it reversed immediately and the ES rallied
to the 1067.75-1068.25 resistance zone in the first 40
minutes. The ES spent less than a minute over that
resistance then reversed. Members were told that the top
for the morning as in, and after it reversed the ES quickly
fell 11+ points to 1057.50. The ES rallied back to the
1067.75 level then dropping 6 points before reversing back
up from a 1061.50 pullback low.
Good Trading,
Mike Reed
TradeStalker.com
This publication's primary focus is trading the index
futures. However, you can also use my nightly updates to
trade the following ETF's (SPY), (QQQQ), (SDS), (QID),
(DIA), and (DOG)
The Employment data gave an emotional
down open, and it reversed immediately and the ES rallied
to the 1067.75-1068.25 resistance zone in the first 40
minutes. The ES spent less than a minute over that
resistance then reversed. Members were told that the top
for the morning as in, and after it reversed the ES quickly
fell 11+ points to 1057.50. The ES rallied back to the
1067.75 level then dropping 6 points before reversing back
up from a 1061.50 pullback low.
Good Trading,
Mike Reed
TradeStalker.com
This publication's primary focus is trading the index
futures. However, you can also use my nightly updates to
trade the following ETF's (SPY), (QQQQ), (SDS), (QID),
(DIA), and (DOG)
TradeStalker's RBI Update 11/05/09
.................................................
TradeStalker's
R.B.I. Trader's Update
11 / 5 / 2009
(Published Since 1996)
...............................................
Dateline: 7:02 pm eastern time, 11/5/2009
The ES opened at the 1051.75-1052.50 resistance on Friday,
and from 1052.50 it dropped 3 points to 1049.50 before
turning back up. The rally reached 1058.50, our 2nd
resistance was 1058.00-1058.50, and the ES dropped 3 points
to 1055.50 and turned back up. The bounce stalled out after
reaching 1062, and we were short but looking for a bounce.
That bounce took out 1060.50 and ran to the 1063-1064 key
area. The move reached the 1063.00, then reversed and
dropped 4.75 points to key support at 1058.25. A bounce to
1063.75 reversed, giving a good re-entry on the short side,
and the ES dropped 3.50 points to 1060.25 with 15 minutes
left in stock trading. The ES then ran up to 1064.00 in the
final minutes and backed off a bit before the close.
We get the Employment data before the open on Friday. At the
moment most everything is neutral to nearing overbought
status. The very short term internal gauges are getting
close to an overbought status. The sentiment is getting
bullish in a hurry. Vix dropped over 8% on Thursday. Lastly,
the ES reached a good resistance zone at 1063-1064 on 3
occasions on Thursday. The first 2 lead to pullbacks, then
the ES ended the day in that zone.
That said, no damage is done as long as the initial support
can hold. If it does not, then a decent pullback / selloff
could occur. So look for opportunities on both sides unless
the market gets into a trend down phase. If the ES falls
towards the 1058.50-1058.00 area and cannot quickly reverse,
then a decent sized pullback could occur.
December 2009 SP futures resistance
symbols: emini = esz9 / big contract =spz9
1064.00
1067.75-1068.25
1071.50-1072.25 **major
1076.75-1078.00
December 2009 SP futures support
symbols: emini = esz9 / big contract =spz9
1060.50-1060.00
1058.50-1058.00
1050.50-1049.50
1042.00-1041.50
December 2009 Nasdaq futures resistance
symbols: emini = nqz9 / big contract = ndz9
1722.00
1728.00-1729.00
1734.00-1735.00 **major
1739.25-1740.50
December 2009 Nasdaq futures support
symbols: emini = nqz9 / big contract = ndz9
1712.00-1711.25
1708.25-1707.50
1700.00-1699.25
1691.75-1690.50
December 2009 Dow futures resistance
symbols: emini = ymz9
9970
10004-10007
10034-10038 **major
10080-10085
December 2009 Dow futures support
symbols: emini = ymz9
9941-9938
9916-9913
9838-9832
9740-9736
CLICK HERE for FREE Trading Articles and Videos!
Good Trading,
Mike Reed
TradeStalker.com
Copyright (c) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
www.TradeStalker.com
PO Box 9783, Ft Wayne, IN, 46899
This publication's primary focus is trading the index
futures. However, you can also use my nightly updates to
trade the following ETF's (SPY), (QQQQ), (SDS), (QID),
(DIA), and (DOG)
Disclaimer
The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.
We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************
TradeStalker's
R.B.I. Trader's Update
11 / 5 / 2009
(Published Since 1996)
...............................................
Dateline: 7:02 pm eastern time, 11/5/2009
The ES opened at the 1051.75-1052.50 resistance on Friday,
and from 1052.50 it dropped 3 points to 1049.50 before
turning back up. The rally reached 1058.50, our 2nd
resistance was 1058.00-1058.50, and the ES dropped 3 points
to 1055.50 and turned back up. The bounce stalled out after
reaching 1062, and we were short but looking for a bounce.
That bounce took out 1060.50 and ran to the 1063-1064 key
area. The move reached the 1063.00, then reversed and
dropped 4.75 points to key support at 1058.25. A bounce to
1063.75 reversed, giving a good re-entry on the short side,
and the ES dropped 3.50 points to 1060.25 with 15 minutes
left in stock trading. The ES then ran up to 1064.00 in the
final minutes and backed off a bit before the close.
We get the Employment data before the open on Friday. At the
moment most everything is neutral to nearing overbought
status. The very short term internal gauges are getting
close to an overbought status. The sentiment is getting
bullish in a hurry. Vix dropped over 8% on Thursday. Lastly,
the ES reached a good resistance zone at 1063-1064 on 3
occasions on Thursday. The first 2 lead to pullbacks, then
the ES ended the day in that zone.
That said, no damage is done as long as the initial support
can hold. If it does not, then a decent pullback / selloff
could occur. So look for opportunities on both sides unless
the market gets into a trend down phase. If the ES falls
towards the 1058.50-1058.00 area and cannot quickly reverse,
then a decent sized pullback could occur.
December 2009 SP futures resistance
symbols: emini = esz9 / big contract =spz9
1064.00
1067.75-1068.25
1071.50-1072.25 **major
1076.75-1078.00
December 2009 SP futures support
symbols: emini = esz9 / big contract =spz9
1060.50-1060.00
1058.50-1058.00
1050.50-1049.50
1042.00-1041.50
December 2009 Nasdaq futures resistance
symbols: emini = nqz9 / big contract = ndz9
1722.00
1728.00-1729.00
1734.00-1735.00 **major
1739.25-1740.50
December 2009 Nasdaq futures support
symbols: emini = nqz9 / big contract = ndz9
1712.00-1711.25
1708.25-1707.50
1700.00-1699.25
1691.75-1690.50
December 2009 Dow futures resistance
symbols: emini = ymz9
9970
10004-10007
10034-10038 **major
10080-10085
December 2009 Dow futures support
symbols: emini = ymz9
9941-9938
9916-9913
9838-9832
9740-9736
CLICK HERE for FREE Trading Articles and Videos!
Good Trading,
Mike Reed
TradeStalker.com
Copyright (c) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
www.TradeStalker.com
PO Box 9783, Ft Wayne, IN, 46899
This publication's primary focus is trading the index
futures. However, you can also use my nightly updates to
trade the following ETF's (SPY), (QQQQ), (SDS), (QID),
(DIA), and (DOG)
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.
*************************************************
Today's Trading Recap: 11/05/09
HOW OUR DAY WENT:
The ES opened at the 1051.75-1052.50
resistance, and from 1052.50 it dropped 3 points to
1049.50 before turning back up. The rally reached
1058.50, our 2nd resistance was 1058.00-1058.50, and
the ES dropped 3 points to 1055.50 and turned back up.
The bounce stalled out after reaching 1062, and we
were short but looking for a bounce. That bounce took
out 1060.50 and ran to the 1063-1064 key area. The move
reached the 1063.00, then reversed and dropped 4.75
points to key support at 1058.25. A bounce to 1063.75
reversed, giving a good re-entry on the short side,
and the ES dropped 3.50 points to 1060.25 with 15
minutes left in stock trading. The ES then ran up to
1064.00 in the final minutes and backed off as the market
acted timid up there.
Good Trading,
Mike Reed
TradeStalker.com
The ES opened at the 1051.75-1052.50
resistance, and from 1052.50 it dropped 3 points to
1049.50 before turning back up. The rally reached
1058.50, our 2nd resistance was 1058.00-1058.50, and
the ES dropped 3 points to 1055.50 and turned back up.
The bounce stalled out after reaching 1062, and we
were short but looking for a bounce. That bounce took
out 1060.50 and ran to the 1063-1064 key area. The move
reached the 1063.00, then reversed and dropped 4.75
points to key support at 1058.25. A bounce to 1063.75
reversed, giving a good re-entry on the short side,
and the ES dropped 3.50 points to 1060.25 with 15
minutes left in stock trading. The ES then ran up to
1064.00 in the final minutes and backed off as the market
acted timid up there.
Good Trading,
Mike Reed
TradeStalker.com
TradeStalker's RBI Update 11/04/09
.................................................
TradeStalker's
R.B.I. Trader's Update
11/ 4 / 2009
(Published Since 1996)
...............................................
Dateline: 6:18 pm eastern time, 11/4/2009
The gap up open at the 1051.50-1052.25 resistance set up an
early short on Wednesday. The ES turned down from 1052.25
and dropped 4.50 points to 1047.75. The upside then resumed
and the ES rallied to 1057.50 before it stalled and rolled
over. We were then looking for a pullback to 1051.50-1051.00
to be key support, and a pullback reversed from 1051.50 and
then bounced 2.50 points to 1054.00 before stalling out in
front of the Fed release. After the release there was a
pop-and-drop to 1046.00 on the ES that lasted about 15
minutes, and then the market turned back up. A sprint to
1058.50 stalled out and the ES backed off, but when the 1053
level was cut through the second time the downside picked up
steam. A plunge to 1041.50 easily filled the gap and then
the market firmed into the close.
We had more good volatility to trade on Wednesday as we
expected. After getting extremely oversold late last week,
and then getting 4 buy signals from the Vix on the Monday,
the market put together a decent oversold rally. It lasted 3
days so far, and it that looks to be over for now. Most of
the overbought/oversold gauges have gone into neutral. In
addition to that, the market is losing upside momentum. The
SP500 cash closed up 6.69 points on Monday, closed up 2.53
points, and closed 1.09 points on Wednesday. At best it
looks like a trading range. At worst, the downside could
gather steam and head towards the 1016-1014 area on the
SP500 cash to see if it can hold what appears to be
important support.
The market has not been able to hold on to its gains, so on
Thursday look for early strength to be sold. If there is an
early pop up to the 1051.75-1052.50 area on the ES and it
reverses, that would be a good entry. If the market can not
bounce that much, it means it is weak and the downside
should be in gear. IF somehow the market tests the Wednesday
highs, it should be an easy short barring some extraneous
news event. On the downside, a break of the Wednesday low
areas would mean a test of the 1036.75-1036.25 area, and
that area will need to defended to avoid a bad day for
the bulls.
December 2009 SP futures resistance
symbols: emini = esz9 / big contract =spz9
1051.75-1052.50
1058.00-1058.50
1062.75-1064.00
1071.50-1072.25 **major
December 2009 SP futures support
symbols: emini = esz9 / big contract =spz9
1042.00-1041.50
1036.75-1036.25
1031.50-1030.75
1026.50-1026.00
December 2009 Nasdaq futures resistance
symbols: emini = nqz9 / big contract = ndz9
1693.75-1694.50
1699.25-1700.00
1705.75-1706.50
December 2009 Nasdaq futures support
symbols: emini = nqz9 / big contract = ndz9
1676.75-1676.00
1672.00-1670.75
1658.75-1658.00
1652.00-1650.25
December 2009 Dow futures resistance
symbols: emini = ymz9
9832-9839
9884-9888
9924-9932
December 2009 Dow futures support
symbols: emini = ymz9
9740-9736
9683-9679
9656-9654
9634-9632
---------------------------
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
www.TradeStalker.com
http://www.TradeStalker.com
PO Box 9783, Ft Wayne, IN, 46899
Disclaimer
The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.
We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************
TradeStalker's
R.B.I. Trader's Update
11/ 4 / 2009
(Published Since 1996)
...............................................
Dateline: 6:18 pm eastern time, 11/4/2009
The gap up open at the 1051.50-1052.25 resistance set up an
early short on Wednesday. The ES turned down from 1052.25
and dropped 4.50 points to 1047.75. The upside then resumed
and the ES rallied to 1057.50 before it stalled and rolled
over. We were then looking for a pullback to 1051.50-1051.00
to be key support, and a pullback reversed from 1051.50 and
then bounced 2.50 points to 1054.00 before stalling out in
front of the Fed release. After the release there was a
pop-and-drop to 1046.00 on the ES that lasted about 15
minutes, and then the market turned back up. A sprint to
1058.50 stalled out and the ES backed off, but when the 1053
level was cut through the second time the downside picked up
steam. A plunge to 1041.50 easily filled the gap and then
the market firmed into the close.
We had more good volatility to trade on Wednesday as we
expected. After getting extremely oversold late last week,
and then getting 4 buy signals from the Vix on the Monday,
the market put together a decent oversold rally. It lasted 3
days so far, and it that looks to be over for now. Most of
the overbought/oversold gauges have gone into neutral. In
addition to that, the market is losing upside momentum. The
SP500 cash closed up 6.69 points on Monday, closed up 2.53
points, and closed 1.09 points on Wednesday. At best it
looks like a trading range. At worst, the downside could
gather steam and head towards the 1016-1014 area on the
SP500 cash to see if it can hold what appears to be
important support.
The market has not been able to hold on to its gains, so on
Thursday look for early strength to be sold. If there is an
early pop up to the 1051.75-1052.50 area on the ES and it
reverses, that would be a good entry. If the market can not
bounce that much, it means it is weak and the downside
should be in gear. IF somehow the market tests the Wednesday
highs, it should be an easy short barring some extraneous
news event. On the downside, a break of the Wednesday low
areas would mean a test of the 1036.75-1036.25 area, and
that area will need to defended to avoid a bad day for
the bulls.
December 2009 SP futures resistance
symbols: emini = esz9 / big contract =spz9
1051.75-1052.50
1058.00-1058.50
1062.75-1064.00
1071.50-1072.25 **major
December 2009 SP futures support
symbols: emini = esz9 / big contract =spz9
1042.00-1041.50
1036.75-1036.25
1031.50-1030.75
1026.50-1026.00
December 2009 Nasdaq futures resistance
symbols: emini = nqz9 / big contract = ndz9
1693.75-1694.50
1699.25-1700.00
1705.75-1706.50
December 2009 Nasdaq futures support
symbols: emini = nqz9 / big contract = ndz9
1676.75-1676.00
1672.00-1670.75
1658.75-1658.00
1652.00-1650.25
December 2009 Dow futures resistance
symbols: emini = ymz9
9832-9839
9884-9888
9924-9932
December 2009 Dow futures support
symbols: emini = ymz9
9740-9736
9683-9679
9656-9654
9634-9632
---------------------------
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
www.TradeStalker.com
http://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.
*************************************************
Today's Trading Recap: 11/04/09
HOW OUR DAY WENT:
The had a gap open at the 1051.50-
1052.25 resistance set up an early short. The ES turned
down from 1052.25 and dropped 4.50 points to 1047.75.
The upside then resumed and our target at 1055.75-
1056.50 area was exceeded by 1 point then stalled and
rolled over. We were then looking for a pullback to
1051.50-1051.00 to be key support and a pullback
reversed from 1051.50 and then bounced 2.50 points to
1054.00 before stalling out in front of the Fed release.
Members were told that if 1053 was broken then the
lows or 1043 would be reached and they fell to 1041.50
before a bounce into the close.
Good Trading,
Mike Reed
TradeStalker.com
The had a gap open at the 1051.50-
1052.25 resistance set up an early short. The ES turned
down from 1052.25 and dropped 4.50 points to 1047.75.
The upside then resumed and our target at 1055.75-
1056.50 area was exceeded by 1 point then stalled and
rolled over. We were then looking for a pullback to
1051.50-1051.00 to be key support and a pullback
reversed from 1051.50 and then bounced 2.50 points to
1054.00 before stalling out in front of the Fed release.
Members were told that if 1053 was broken then the
lows or 1043 would be reached and they fell to 1041.50
before a bounce into the close.
Good Trading,
Mike Reed
TradeStalker.com
TradeStalker's RBI Update 11/03/09
.................................................
TradeStalker's
R.B.I. Trader's Update
11 / 3 / 2009
(Published Since 1996)
...............................................
Dateline: 6:44 pm eastern time, 11/3/2009
The market opened lower on Tuesday but the weakness was
reversed and the ES rallied from 1030.75 to 1040.50 just
over 30 minutes into trading. That was at the 1040.00-
1041.00 initial resistance, and the market dropped down to
test the lows. The ES made a double bottom pattern off of
1031.00 and then bounced to 1036.25 updated resistance. A
pullback followed but then the ES was reversed from 1032.00
and then it shot higher. A sprint to 1041.50 fizzled out,
then the ES pulled back to test the 1036.50 new support.
That held and a rally up to 1043.00 followed. That level was
quickly rejected, and with that resistance being a bit too
much, the ES fell back to the 1036.50 area with an hour
left. The market churned just over that level until 3:30,
and then the market turned up and made a run up to test the
highs. That pop lasted 5 minutes as the move fizzled and
reversed from 1042.75, then dropped 3.50 points to 1039.25
before churning into the close.
The market gave us some good swings in both directions on
Tuesday. Wednesday is a Fed Release day, and the volatility
isn't going to dry up now. For the most part, the short term
internal gauges have moved out of deep oversold territory.
Also, the downside momentum let up some, with the averages
making inside days on Tuesday.
On Fed days, if there is a trending market going into the
2:15 pm release, then that trend is usually reversed. On
Wednesday the market will be in decent shape as long as the
1036.75-1036.25 area on the ES and 1672.00-1670.75 area on
the NQ are broken. If those are broken, then the uptrends
will roll over and the 1026.50-1026.00 area, or lower, could
be in the cards before another decent reversal occurs. If
those are held, then a rally should have trouble with the
1049.00-1049.50 area if the market is still weak. After the
Fed release, there tends to be a quick "shake and bake"
where the market moves down then up quickly, however a trend
should develop after 15-20 minutes and make a good move into
the last 30 minutes or longer.
December 2009 SP futures resistance
symbols: emini = esz9 / big contract =spz9
1042.75-1043.25
1049.00-1049.50
1051.50-1052.25
December 2009 SP futures support
symbols: emini = esz9 / big contract =spz9
1036.75-1036.25
1031.50-1030.75
1026.50-1026.00
December 2009 Nasdaq futures resistance
symbols: emini = nqz9 / big contract = ndz9
1677.00-1677.75
1686.50-1687.75
1690.50-1691.50
December 2009 Nasdaq futures support
symbols: emini = nqz9 / big contract = ndz9
1672.00-1670.75
1658.75-1658.00
1652.00-1650.25
December 2009 Dow futures resistance
symbols: emini = ymz9
9736-9739
9792-9796
9820-9825
December 2009 Dow futures support
symbols: emini = ymz9
9683-9679
9656-9654
9634-9632
---------------------------
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
www.TradeStalker.com
PO Box 9783, Ft Wayne, IN, 46899
Disclaimer
The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.
We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************
TradeStalker's
R.B.I. Trader's Update
11 / 3 / 2009
(Published Since 1996)
...............................................
Dateline: 6:44 pm eastern time, 11/3/2009
The market opened lower on Tuesday but the weakness was
reversed and the ES rallied from 1030.75 to 1040.50 just
over 30 minutes into trading. That was at the 1040.00-
1041.00 initial resistance, and the market dropped down to
test the lows. The ES made a double bottom pattern off of
1031.00 and then bounced to 1036.25 updated resistance. A
pullback followed but then the ES was reversed from 1032.00
and then it shot higher. A sprint to 1041.50 fizzled out,
then the ES pulled back to test the 1036.50 new support.
That held and a rally up to 1043.00 followed. That level was
quickly rejected, and with that resistance being a bit too
much, the ES fell back to the 1036.50 area with an hour
left. The market churned just over that level until 3:30,
and then the market turned up and made a run up to test the
highs. That pop lasted 5 minutes as the move fizzled and
reversed from 1042.75, then dropped 3.50 points to 1039.25
before churning into the close.
The market gave us some good swings in both directions on
Tuesday. Wednesday is a Fed Release day, and the volatility
isn't going to dry up now. For the most part, the short term
internal gauges have moved out of deep oversold territory.
Also, the downside momentum let up some, with the averages
making inside days on Tuesday.
On Fed days, if there is a trending market going into the
2:15 pm release, then that trend is usually reversed. On
Wednesday the market will be in decent shape as long as the
1036.75-1036.25 area on the ES and 1672.00-1670.75 area on
the NQ are broken. If those are broken, then the uptrends
will roll over and the 1026.50-1026.00 area, or lower, could
be in the cards before another decent reversal occurs. If
those are held, then a rally should have trouble with the
1049.00-1049.50 area if the market is still weak. After the
Fed release, there tends to be a quick "shake and bake"
where the market moves down then up quickly, however a trend
should develop after 15-20 minutes and make a good move into
the last 30 minutes or longer.
December 2009 SP futures resistance
symbols: emini = esz9 / big contract =spz9
1042.75-1043.25
1049.00-1049.50
1051.50-1052.25
December 2009 SP futures support
symbols: emini = esz9 / big contract =spz9
1036.75-1036.25
1031.50-1030.75
1026.50-1026.00
December 2009 Nasdaq futures resistance
symbols: emini = nqz9 / big contract = ndz9
1677.00-1677.75
1686.50-1687.75
1690.50-1691.50
December 2009 Nasdaq futures support
symbols: emini = nqz9 / big contract = ndz9
1672.00-1670.75
1658.75-1658.00
1652.00-1650.25
December 2009 Dow futures resistance
symbols: emini = ymz9
9736-9739
9792-9796
9820-9825
December 2009 Dow futures support
symbols: emini = ymz9
9683-9679
9656-9654
9634-9632
---------------------------
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
www.TradeStalker.com
PO Box 9783, Ft Wayne, IN, 46899
Disclaimer
The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.
We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************
Today's Trading Recap: 11/03/09
HOW OUR DAY WENT:
The lower open was reversed and the
first bounce was sold right at our initial resistance
zone at 1040.00-1041.00. The ES dropped 7.75 points
from 1040.50 to 1032.75. A bounce to 1039.75 gave us
another shorting opportunity and the ES dropped 8.75
points to 1031.00. A rally to 1041.50 then reversed, and
since 1036.50 was prior shorting territory, we switched to
buying a pullback that held that 1036.50-1036.00 area. The
ES held right there and then rallied 6.50 points to 1043.00.
Then members were told to favor a short as 1043 was a top,
and the 1036.25 level was tested. A rally from that support
back to 1042.75 ended the day.
Good Trading,
Mike Reed
TradeStalker.com
The lower open was reversed and the
first bounce was sold right at our initial resistance
zone at 1040.00-1041.00. The ES dropped 7.75 points
from 1040.50 to 1032.75. A bounce to 1039.75 gave us
another shorting opportunity and the ES dropped 8.75
points to 1031.00. A rally to 1041.50 then reversed, and
since 1036.50 was prior shorting territory, we switched to
buying a pullback that held that 1036.50-1036.00 area. The
ES held right there and then rallied 6.50 points to 1043.00.
Then members were told to favor a short as 1043 was a top,
and the 1036.25 level was tested. A rally from that support
back to 1042.75 ended the day.
Good Trading,
Mike Reed
TradeStalker.com
TradeStalker's RBI Update 11/02/09
.................................................
TradeStalker's
R.B.I. Trader's Update
11 / 2 / 2009
(Published Since 1996)
...............................................
Dateline: 6:08 pm eastern time, 11/2/2009
The market opened higher on Monday, and after a quick
pullback from 1040.50 to 1034.00 the market reversed back up
and rallied nicely. However, after reaching 1049.50 the
market started to act toppy, and it rolled over and sold off
fast once the downside started. A steady trend down to
1026.00 was reversed and a decent bounce followed. That move
fizzled out after reaching 1035.00 on the ES and the market
fell again to test the lows. A double bottom was made at
1026.00 on the ES and the market rallied back. Updated
resistance at 1037.50-1038.50 was nailed, then a 5+ point
drop from 1037.50 to 1032.25 followed. A bounce to 1037.00
reversed and the ES dropped 5.50 points to 1031.50 with
about 30 minutes left, then buying/ short covering came in
and the market rallied into close.
There was really good movement in both directions on Monday.
Those Monday lows might have been the lows for a few days,
but the early action should be telling on Tuesday. There was
a potential rising wedge forming going into the Monday
close. A break below the 1032.00-1031.50 area would set up a
short on the bounce that follows. However, if that area is
held then the upside should continue.
In any case, at the moment the market looks like it might go
into a trading range, and the volatility should continue.
The internal gauges are just coming out of oversold
territory, but the Vix gave 4 buy signals at Monday's close.
The fact that the bulls made a good stand at the 1026 level
was a plus also. If the Monday lows on both the ES and YM
are broken, then a drop towards the 1015.00-1014.00 area
would be a test of what should be a major support zone,
unless this is more than just a decent correction.
On Tuesday look to short early strength that reverses, and
then if the market obliges look for the first decent
pullback to set up a buying opportunity if the 1032.00-
1031.50 area on the ES is reversed. If that is not quickly
reversed, then the Monday double bottom at 1026 will be in
jeopardy.
December 2009 SP futures resistance
symbols: emini = esz9 / big contract =spz9
1040.00-1041.00
1046.50-1047.25
1049.50
1050.75-1051.50
December 2009 SP futures support
symbols: emini = esz9 / big contract =spz9
1032.00-1031.50
1026.50-1026.00
1022.00-1020.50
1015.00-1014.00
December 2009 Nasdaq futures resistance
symbols: emini = nqz9 / big contract = ndz9
1672.75-1673.75
1682.00-1682.75
1687.75
1689.25-1690.50
December 2009 Nasdaq futures support
symbols: emini = nqz9 / big contract = ndz9
1660.50-1659.75
1650.50-1649.75
1644.25-1643.50
1637.75-1636.25
December 2009 Dow futures resistance
symbols: emini = ymz9
9746-9750
9792-9796
9812
9820-9825
December 2009 Dow futures support
symbols: emini = ymz9
9678-9675
9636-9632
9589-9585
9521-9518
---------------------------
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
www.TradeStalker.com
PO Box 9783, Ft Wayne, IN, 46899
Disclaimer
The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.
We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************
TradeStalker's
R.B.I. Trader's Update
11 / 2 / 2009
(Published Since 1996)
...............................................
Dateline: 6:08 pm eastern time, 11/2/2009
The market opened higher on Monday, and after a quick
pullback from 1040.50 to 1034.00 the market reversed back up
and rallied nicely. However, after reaching 1049.50 the
market started to act toppy, and it rolled over and sold off
fast once the downside started. A steady trend down to
1026.00 was reversed and a decent bounce followed. That move
fizzled out after reaching 1035.00 on the ES and the market
fell again to test the lows. A double bottom was made at
1026.00 on the ES and the market rallied back. Updated
resistance at 1037.50-1038.50 was nailed, then a 5+ point
drop from 1037.50 to 1032.25 followed. A bounce to 1037.00
reversed and the ES dropped 5.50 points to 1031.50 with
about 30 minutes left, then buying/ short covering came in
and the market rallied into close.
There was really good movement in both directions on Monday.
Those Monday lows might have been the lows for a few days,
but the early action should be telling on Tuesday. There was
a potential rising wedge forming going into the Monday
close. A break below the 1032.00-1031.50 area would set up a
short on the bounce that follows. However, if that area is
held then the upside should continue.
In any case, at the moment the market looks like it might go
into a trading range, and the volatility should continue.
The internal gauges are just coming out of oversold
territory, but the Vix gave 4 buy signals at Monday's close.
The fact that the bulls made a good stand at the 1026 level
was a plus also. If the Monday lows on both the ES and YM
are broken, then a drop towards the 1015.00-1014.00 area
would be a test of what should be a major support zone,
unless this is more than just a decent correction.
On Tuesday look to short early strength that reverses, and
then if the market obliges look for the first decent
pullback to set up a buying opportunity if the 1032.00-
1031.50 area on the ES is reversed. If that is not quickly
reversed, then the Monday double bottom at 1026 will be in
jeopardy.
December 2009 SP futures resistance
symbols: emini = esz9 / big contract =spz9
1040.00-1041.00
1046.50-1047.25
1049.50
1050.75-1051.50
December 2009 SP futures support
symbols: emini = esz9 / big contract =spz9
1032.00-1031.50
1026.50-1026.00
1022.00-1020.50
1015.00-1014.00
December 2009 Nasdaq futures resistance
symbols: emini = nqz9 / big contract = ndz9
1672.75-1673.75
1682.00-1682.75
1687.75
1689.25-1690.50
December 2009 Nasdaq futures support
symbols: emini = nqz9 / big contract = ndz9
1660.50-1659.75
1650.50-1649.75
1644.25-1643.50
1637.75-1636.25
December 2009 Dow futures resistance
symbols: emini = ymz9
9746-9750
9792-9796
9812
9820-9825
December 2009 Dow futures support
symbols: emini = ymz9
9678-9675
9636-9632
9589-9585
9521-9518
---------------------------
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
www.TradeStalker.com
PO Box 9783, Ft Wayne, IN, 46899
Disclaimer
The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.
We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************
Today's Trading Recap: 11/02/09
HOW OUR DAY WENT:
The market started the week with a
decent rally to start the day, but after reaching 1049
on the ES the action was toppy and the break of 1043
meant lower prices ahead. The ES dropped fast to 1026
and the re-test and reversal was good for a quick trade
on the long side. Updated resistance at 1037.50-1038.50
was nailed, then a 5+ point drop from 1037.50 to 1032.25
followed. The a bounce to 1037.00 reversed and the ES
dropped 5.50 points to 1031.50 with about 30 minutes
left before the close.
Good Trading,
Mike Reed
TradeStalker.com
The market started the week with a
decent rally to start the day, but after reaching 1049
on the ES the action was toppy and the break of 1043
meant lower prices ahead. The ES dropped fast to 1026
and the re-test and reversal was good for a quick trade
on the long side. Updated resistance at 1037.50-1038.50
was nailed, then a 5+ point drop from 1037.50 to 1032.25
followed. The a bounce to 1037.00 reversed and the ES
dropped 5.50 points to 1031.50 with about 30 minutes
left before the close.
Good Trading,
Mike Reed
TradeStalker.com
TradeStalker's RBI Update 11/01/09
.................................................
TradeStalker's
R.B.I. Trader's Update
11 / 1 / 2009
(Published Since 1996)
...............................................
Dateline: 5:26 pm eastern time, 11/1/2009
The market opened lower on Friday and under the 1058.75-
1057.50 initial support on the ES, so the short side was the
better side when the bounces stalled/reversed. The market
had a volatile first 30 minutes, but the ES could only
bounce to Thursday's closing range and from a 1061.50 high
the market dropped fast. There was a bounce from 1051.50 on
the ES, which was a bit over the 1050.50 support, but that
fizzled as it reached 1056.00 and then the market rolled
over and traded steadily lower. After the ES reached
1031.00, there was a 9.75 point bounce and that fizzled at
1040.50, and it set up another shorting opportunity. The ES
dropped to a new low at 1029.50 and then bounced back 8.75
points to 1038.25. That also stalled and reversed and the
market fell again to test the 1029.50 low before the close.
There isn't much good to say about the current price action.
Starting with the topping action from 2 weeks ago, which
turned into a solid downtrend, all of the bounces have set
up shorting opportunities. After breaking a rising wedge
pattern on Wednesday, the SP500 cash broke its channel on
Friday. The other averages are in the same shape. It will
take some work to fix that damage.
The internal damage started before the prices started
caving. The intermediate term internal gauges still look
poor, but the short term gauges are at an interesting place.
The extremes seen at the Tuesday and Wednesday closes were
at near historic oversold levels. That was worked off some
with Thursday's oversold rally, but still is oversold. The
sentiment, so very complacent a week and a half ago at the
top, has gotten a bit too bearish too fast now. The Vix
jumped almost 24% on Friday, as some fear was finally
generated on Friday. Those kind of huge jumps tend to be
reserved for major trading bottoms. Also, the closing Trin
was 2.98 on Friday. Normally a closing Trin at 3.00 or
higher sets up a good rally within 7 trading hours.
So, the market is in a similar position as it was last
Wednesday. The market got hurt on the last day of the month,
after a very good oversold rally on Thursday. At this
juncture, it will take a break and hold over the initial
resistance areas to change the intraday trends. Unless/until
that occurs, the bounces will not stick. Should the ES get
legs and rally 26 points like it did from the Wednesday low,
then the 1056.00-1056.50 area would be tested and then the
market would get hammered again. If the Friday double bottom
isn't held, then the 1019.95-1018.00 area on the SP500 cash
and/or the 1015.00-1014.00 area on the ES would be the key
support area. If that isn't reversed, then a drop towards
the 1008.00-1007.00 area on the ES could be in the cards.
Should that area fail to hold, a revisit of the high 900's
will become likely before this drop gets itself turned
around.
December 2009 SP futures resistance
symbols: emini = esz9 / big contract =spz9
1038.25-1039.00
1042.25-1043.00
1046.50-1047.00
1050.75-1051.50
1056.00-1056.50
1062.75-1064.00 **major
December 2009 SP futures support
symbols: emini = esz9 / big contract =spz9
1029.50-1028.50
1022.00-1020.50
1015.00-1014.00
1008.00-1007.00
December 2009 Nasdaq futures resistance
symbols: emini = nqz9 / big contract = ndz9
1674.75-1677.00
1681.00-1682.00
1689.25-1690.50
1696.75-1697.50
1705.75-1706.50
1711.75-1713.00 **major
December 2009 Nasdaq futures support
symbols: emini = nqz9 / big contract = ndz9
1660.00-1658.50
1650.25-1649.50
1640.75-1639.75
1632.00-1630.50
December 2009 Dow futures resistance
symbols: emini = ymz9
9710-9716
9739-9743
9786-9791
9810-9816
9851-9856
9914-9922 **major
December 2009 Dow futures support
symbols: emini = ymz9
9634-9629
9568-9562
9498-9492
9345-9336
---------------------------
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
www.TradeStalker.com
PO Box 9783, Ft Wayne, IN, 46899
Disclaimer
The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.
We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************
TradeStalker's
R.B.I. Trader's Update
11 / 1 / 2009
(Published Since 1996)
...............................................
Dateline: 5:26 pm eastern time, 11/1/2009
The market opened lower on Friday and under the 1058.75-
1057.50 initial support on the ES, so the short side was the
better side when the bounces stalled/reversed. The market
had a volatile first 30 minutes, but the ES could only
bounce to Thursday's closing range and from a 1061.50 high
the market dropped fast. There was a bounce from 1051.50 on
the ES, which was a bit over the 1050.50 support, but that
fizzled as it reached 1056.00 and then the market rolled
over and traded steadily lower. After the ES reached
1031.00, there was a 9.75 point bounce and that fizzled at
1040.50, and it set up another shorting opportunity. The ES
dropped to a new low at 1029.50 and then bounced back 8.75
points to 1038.25. That also stalled and reversed and the
market fell again to test the 1029.50 low before the close.
There isn't much good to say about the current price action.
Starting with the topping action from 2 weeks ago, which
turned into a solid downtrend, all of the bounces have set
up shorting opportunities. After breaking a rising wedge
pattern on Wednesday, the SP500 cash broke its channel on
Friday. The other averages are in the same shape. It will
take some work to fix that damage.
The internal damage started before the prices started
caving. The intermediate term internal gauges still look
poor, but the short term gauges are at an interesting place.
The extremes seen at the Tuesday and Wednesday closes were
at near historic oversold levels. That was worked off some
with Thursday's oversold rally, but still is oversold. The
sentiment, so very complacent a week and a half ago at the
top, has gotten a bit too bearish too fast now. The Vix
jumped almost 24% on Friday, as some fear was finally
generated on Friday. Those kind of huge jumps tend to be
reserved for major trading bottoms. Also, the closing Trin
was 2.98 on Friday. Normally a closing Trin at 3.00 or
higher sets up a good rally within 7 trading hours.
So, the market is in a similar position as it was last
Wednesday. The market got hurt on the last day of the month,
after a very good oversold rally on Thursday. At this
juncture, it will take a break and hold over the initial
resistance areas to change the intraday trends. Unless/until
that occurs, the bounces will not stick. Should the ES get
legs and rally 26 points like it did from the Wednesday low,
then the 1056.00-1056.50 area would be tested and then the
market would get hammered again. If the Friday double bottom
isn't held, then the 1019.95-1018.00 area on the SP500 cash
and/or the 1015.00-1014.00 area on the ES would be the key
support area. If that isn't reversed, then a drop towards
the 1008.00-1007.00 area on the ES could be in the cards.
Should that area fail to hold, a revisit of the high 900's
will become likely before this drop gets itself turned
around.
December 2009 SP futures resistance
symbols: emini = esz9 / big contract =spz9
1038.25-1039.00
1042.25-1043.00
1046.50-1047.00
1050.75-1051.50
1056.00-1056.50
1062.75-1064.00 **major
December 2009 SP futures support
symbols: emini = esz9 / big contract =spz9
1029.50-1028.50
1022.00-1020.50
1015.00-1014.00
1008.00-1007.00
December 2009 Nasdaq futures resistance
symbols: emini = nqz9 / big contract = ndz9
1674.75-1677.00
1681.00-1682.00
1689.25-1690.50
1696.75-1697.50
1705.75-1706.50
1711.75-1713.00 **major
December 2009 Nasdaq futures support
symbols: emini = nqz9 / big contract = ndz9
1660.00-1658.50
1650.25-1649.50
1640.75-1639.75
1632.00-1630.50
December 2009 Dow futures resistance
symbols: emini = ymz9
9710-9716
9739-9743
9786-9791
9810-9816
9851-9856
9914-9922 **major
December 2009 Dow futures support
symbols: emini = ymz9
9634-9629
9568-9562
9498-9492
9345-9336
---------------------------
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
www.TradeStalker.com
PO Box 9783, Ft Wayne, IN, 46899
Disclaimer
The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.
We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************
Today's Trading Recap: 10/30/09
HOW OUR DAY WENT:
The initial support at 1058.75-1057.50
was broken on the open, so shorting bounces was our plan
and the market headed south again. After breaking the
major support the market went into a mini melt-down
mode. The intraday updates and the chat room kept the
group on the right side all day long.
Good Trading,
Mike Reed
TradeStalker.com
The initial support at 1058.75-1057.50
was broken on the open, so shorting bounces was our plan
and the market headed south again. After breaking the
major support the market went into a mini melt-down
mode. The intraday updates and the chat room kept the
group on the right side all day long.
Good Trading,
Mike Reed
TradeStalker.com
TradeStalker's RBI Update 10/29/09
.................................................
TradeStalker's
R.B.I. Trader's Update
10 / 29 / 2009
(Published Since 1996)
...............................................
Dateline: 6:43 pm eastern time, 10/29/2009
The market opened higher on Thursday, then the ES dropped
4.75 points from 1049.50 to 1044.75 and then the market
turned back up. The ES then broke and held over the 1045.75-
1046.00 area and rallied to 1054 before backing off. Another
drop of 5 points held, and the ES grinded higher to 1060.50
by early afternoon. The move reversed, but it held at the
upslope 20 period ema on the 5 minute chart and ran up to
1064.00 before a pullback occurred. It was a 5.25 point drop
and then the market rallied back into the close.
By being able to hold the channel line across the 8-17, 9-
02, and 10-02 lows, and being at oversold extremes, all the
market needed was a spark to have a nice rally and that came
in the form of a good GDP number on Thursday. However, the
market has had 3 basically trend days this week, so it will
be a surprise if another trend day occurs on Friday. The
market is still a bit oversold, and the trends are up, so
unless the initial support areas are broken the market
should be okay. If those are broken, then the market will
either be a volatile 2-sided day, or a decent selloff day.
So, look for early strength to set up a shorting opportunity
on Friday. If that sets up in the first 40 minutes and the
market then has a decent pullback, that needs to hold, or
quickly reverse from the initial support areas. If it does,
that will set up a buying opportunity. Otherwise, if that
support is broken, the market will be a better shorting
opportunity when the bounces stall/reverse.
December 2009 SP futures resistance
symbols: emini = esz9 / big contract =spz9
1064.00-1065.00
1068.00-1068.50
1070.25-1072.00
1075.50-1076.25
December 2009 SP futures support
symbols: emini = esz9 / big contract =spz9
1058.75-1057.50
1054.00-1053.50
1050.00-1049.25
December 2009 Nasdaq futures resistance
symbols: emini = nqz9 / big contract = ndz9
1713.00-1714.00
1718.00-1718.50
1723.25-1724.50
1728.50-1729.50
December 2009 Nasdaq futures support
symbols: emini = nqz9 / big contract = ndz9
1704.00-1703.25
1698.50-1697.75
1694.00-1692.50
December 2009 Dow futures resistance
symbols: emini = ymz9
9922-9929
9963-9967
9984-9992
10027-10032
December 2009 Dow futures support
symbols: emini = ymz9
9868-9861
9839-9835
9813-9808
---------------------------
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
www.TradeStalker.com
PO Box 9783, Ft Wayne, IN, 46899
Disclaimer
The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.
We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************
TradeStalker's
R.B.I. Trader's Update
10 / 29 / 2009
(Published Since 1996)
...............................................
Dateline: 6:43 pm eastern time, 10/29/2009
The market opened higher on Thursday, then the ES dropped
4.75 points from 1049.50 to 1044.75 and then the market
turned back up. The ES then broke and held over the 1045.75-
1046.00 area and rallied to 1054 before backing off. Another
drop of 5 points held, and the ES grinded higher to 1060.50
by early afternoon. The move reversed, but it held at the
upslope 20 period ema on the 5 minute chart and ran up to
1064.00 before a pullback occurred. It was a 5.25 point drop
and then the market rallied back into the close.
By being able to hold the channel line across the 8-17, 9-
02, and 10-02 lows, and being at oversold extremes, all the
market needed was a spark to have a nice rally and that came
in the form of a good GDP number on Thursday. However, the
market has had 3 basically trend days this week, so it will
be a surprise if another trend day occurs on Friday. The
market is still a bit oversold, and the trends are up, so
unless the initial support areas are broken the market
should be okay. If those are broken, then the market will
either be a volatile 2-sided day, or a decent selloff day.
So, look for early strength to set up a shorting opportunity
on Friday. If that sets up in the first 40 minutes and the
market then has a decent pullback, that needs to hold, or
quickly reverse from the initial support areas. If it does,
that will set up a buying opportunity. Otherwise, if that
support is broken, the market will be a better shorting
opportunity when the bounces stall/reverse.
December 2009 SP futures resistance
symbols: emini = esz9 / big contract =spz9
1064.00-1065.00
1068.00-1068.50
1070.25-1072.00
1075.50-1076.25
December 2009 SP futures support
symbols: emini = esz9 / big contract =spz9
1058.75-1057.50
1054.00-1053.50
1050.00-1049.25
December 2009 Nasdaq futures resistance
symbols: emini = nqz9 / big contract = ndz9
1713.00-1714.00
1718.00-1718.50
1723.25-1724.50
1728.50-1729.50
December 2009 Nasdaq futures support
symbols: emini = nqz9 / big contract = ndz9
1704.00-1703.25
1698.50-1697.75
1694.00-1692.50
December 2009 Dow futures resistance
symbols: emini = ymz9
9922-9929
9963-9967
9984-9992
10027-10032
December 2009 Dow futures support
symbols: emini = ymz9
9868-9861
9839-9835
9813-9808
---------------------------
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
www.TradeStalker.com
PO Box 9783, Ft Wayne, IN, 46899
Disclaimer
The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.
We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************
Today's Trading Recap: 10/29/09
HOW OUR DAY WENT:
The SP500 closed right on channel
line support on Wednesday, and the oversold rally got
started shortly after the open on Thursday morning.
It wasn't expected to stick all day, but the dip to
the 1052 support shortly before noon occurred and set
up a trade on the long side just before the rally to
1059.75 before pulling back. The 1056 level held on
2 dips before the rally to 1064.00 occurred.
Good Trading,
Mike Reed
TradeStalker.com
The SP500 closed right on channel
line support on Wednesday, and the oversold rally got
started shortly after the open on Thursday morning.
It wasn't expected to stick all day, but the dip to
the 1052 support shortly before noon occurred and set
up a trade on the long side just before the rally to
1059.75 before pulling back. The 1056 level held on
2 dips before the rally to 1064.00 occurred.
Good Trading,
Mike Reed
TradeStalker.com
TradeStalker's RBI Update 10/28/09
.................................................
TradeStalker's
R.B.I. Trader's Update
10 / 28 / 2009
(Published Since 1996)
...............................................
Dateline: 6:14 pm eastern time, 10/28/2009
The market gapped down on Wednesday, then the bounce reached
the Tuesday closing range and reversed. From there it was a
steady trend down day, as every bounce attempt was feeble
and reversed when the move fizzled out. The 1052-1052.50
area on the ES was good resistance, as the selling took the
ES to 1038.00 just before stocks settled.
After the topping out action last week, the ES broke its 6
day trading range and that was the first breakdown. Now the
SP500 cash broke bottom of the rising wedge from the 3-6 low
to the 7-8 low. However, it closed right at a channel line
drawn across the 8-17, 9-02, and 10-02 lows. Any further
weakness will break that trendline support. If broken, and
there isn't a good reversal back to the upside, then the
1020-1018 area on the SP500 cash would be a key support
area.
That said, if there is a decent oversold bounce from here,
then it will likely fail due to the technical breakdown.
There should be good resistance at the 1045.75-1046.00 area
on the ES, and if broken then at the 1051.75-1052.75 zone.
The 1045.75-1046.00 area must be exceeded, and not quickly
reversed, to put a dent in the downside momentum.
On Thursday there is GDP and Initial Claims before the open.
The bounces will still be shorting opportunities when the
upside momentum fizzles out. In order to avoid more sharp
selling, the ES needs to get over the initial resistance
zones and not reverse. Even if that occurs, the bounces will
cause reactions at the least on the way back up.
December 2009 SP futures resistance
symbols: emini = esz9 / big contract =spz9
1042.50-1043.00
1045.75-1046.00
1051.75-1052.75
1055.50-1056.00
December 2009 SP futures support
symbols: emini = esz9 / big contract =spz9
1038.50-1038.00
1035.50-1035.00
1030.75-1029.75
1019.00-1015.00
December 2009 Nasdaq futures resistance
symbols: emini = nqz9 / big contract = ndz9
1689.75-1691.00
1694.50-1695.00
1699.00-1700.50
1707.70-1708.00
December 2009 Nasdaq futures support
symbols: emini = nqz9 / big contract = ndz9
1678.00-1677.25
1674.00-1672.50
1666.50-1665.00
1658.00-1649.75
December 2009 Dow futures resistance
symbols: emini = ymz9
9738-9741
9761-9766
9803-9808
9836-9840
December 2009 Dow futures support
symbols: emini = ymz9
9705-9702
9682-9678
9632-9627
9578-9570
---------------------------
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
www.TradeStalker.com
PO Box 9783, Ft Wayne, IN, 46899
Disclaimer
The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.
We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************
TradeStalker's
R.B.I. Trader's Update
10 / 28 / 2009
(Published Since 1996)
...............................................
Dateline: 6:14 pm eastern time, 10/28/2009
The market gapped down on Wednesday, then the bounce reached
the Tuesday closing range and reversed. From there it was a
steady trend down day, as every bounce attempt was feeble
and reversed when the move fizzled out. The 1052-1052.50
area on the ES was good resistance, as the selling took the
ES to 1038.00 just before stocks settled.
After the topping out action last week, the ES broke its 6
day trading range and that was the first breakdown. Now the
SP500 cash broke bottom of the rising wedge from the 3-6 low
to the 7-8 low. However, it closed right at a channel line
drawn across the 8-17, 9-02, and 10-02 lows. Any further
weakness will break that trendline support. If broken, and
there isn't a good reversal back to the upside, then the
1020-1018 area on the SP500 cash would be a key support
area.
That said, if there is a decent oversold bounce from here,
then it will likely fail due to the technical breakdown.
There should be good resistance at the 1045.75-1046.00 area
on the ES, and if broken then at the 1051.75-1052.75 zone.
The 1045.75-1046.00 area must be exceeded, and not quickly
reversed, to put a dent in the downside momentum.
On Thursday there is GDP and Initial Claims before the open.
The bounces will still be shorting opportunities when the
upside momentum fizzles out. In order to avoid more sharp
selling, the ES needs to get over the initial resistance
zones and not reverse. Even if that occurs, the bounces will
cause reactions at the least on the way back up.
December 2009 SP futures resistance
symbols: emini = esz9 / big contract =spz9
1042.50-1043.00
1045.75-1046.00
1051.75-1052.75
1055.50-1056.00
December 2009 SP futures support
symbols: emini = esz9 / big contract =spz9
1038.50-1038.00
1035.50-1035.00
1030.75-1029.75
1019.00-1015.00
December 2009 Nasdaq futures resistance
symbols: emini = nqz9 / big contract = ndz9
1689.75-1691.00
1694.50-1695.00
1699.00-1700.50
1707.70-1708.00
December 2009 Nasdaq futures support
symbols: emini = nqz9 / big contract = ndz9
1678.00-1677.25
1674.00-1672.50
1666.50-1665.00
1658.00-1649.75
December 2009 Dow futures resistance
symbols: emini = ymz9
9738-9741
9761-9766
9803-9808
9836-9840
December 2009 Dow futures support
symbols: emini = ymz9
9705-9702
9682-9678
9632-9627
9578-9570
---------------------------
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
www.TradeStalker.com
PO Box 9783, Ft Wayne, IN, 46899
Disclaimer
The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.
We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************
Today's Trading Recap: 10/28/09
HOW OUR DAY WENT:
The market was oversold, but prices
broke initial support on the open and then the 1054.50-
1054.00 target was easily met. After it broke, updated
resistance at the 1052.50-1053.00 area was tested, then
the ES fell another 14 points into the close.
Good Trading,
Mike Reed
TradeStalker.com
The market was oversold, but prices
broke initial support on the open and then the 1054.50-
1054.00 target was easily met. After it broke, updated
resistance at the 1052.50-1053.00 area was tested, then
the ES fell another 14 points into the close.
Good Trading,
Mike Reed
TradeStalker.com
TradeStalker's RBI Update 10/27/09
.................................................
TradeStalker's
R.B.I. Trader's Update
10 / 27 / 2009
(Published Since 1996)
...............................................
Dateline: 7:36 pm eastern time, 10/27/2009
The ES opened higher on Tuesday then reversed from 1068.75.
The plunge lower took the ES to 1057.00, just over the
1056.75-1054.50 area and reversed. A good rally followed,
however the 1068.50-1069.00 area was exceeded by 2 ticks
then the move reversed, and the ES fell to test the low. Off
of the 1057.00 low, the ES bounced and then pulled back to a
higher low and a 1-2-3 bottom was in place. A rising wedge
formed, and off the 1065.50 top the ES dropped to 1058.25
before firming into the close.
The market continues to act poorly. However, the short term
indicators are now very oversold. My 3 day Thrust oscillator
is at -.81 (+/-.50 normal extreme), the RBI Oscillator is in
buy territory, and the McClellan Oscillator reached the -250
level. The Vix, which gave a lot of sell signals last week,
jumped quite a bit over the last 2 days and is giving 1 buy
signal here.
The market should normally rally, or give back and forth
action at the worst, under this condition *unless* the
market is in a melt-down mode. A decent rally could be in
the cards as long as the initial support areas are held on
Wednesday. If those support zones are not held, then the
1054.50-1054.00 area on the ES is as far as a drop should go
if there is going to be a decent rally. If we do get a
decent rally, it will make a good shorting opportunity
should the ES get back towards the 1072.50-1073.25 area on
the ES, and then stall and/or reverse back to the downside.
December 2009 SP futures resistance
symbols: emini = esz9 / big contract =spz9
1065.50-1066.00
1069.00-1069.50
1072.50-1073.25
1076.50-1077.25
1083.00-1084.00
December 2009 SP futures support
symbols: emini = esz9 / big contract =spz9
1058.00-1057.00
1054.50-1054.00
1050.50-1049.75
1045.75-1044.75
December 2009 Nasdaq futures resistance
symbols: emini = nqz9 / big contract = ndz9
1728.75-1729.50
1733.75-1734.50
1737.50-1738.50
1746.50-1747.25
December 2009 Nasdaq futures support
symbols: emini = nqz9 / big contract = ndz9
1714.00-1713.00
1707.50-1706.50
1700.25-1699.00
1692.75-1690.50
December 2009 Dow futures resistance
symbols: emini = ymz9
9870-9875
9893-9899
9918-9923
9944-9947
December 2009 Dow futures support
symbols: emini = ymz9
9812-9807
9783-9779
9734-9728
9698-9692
---------------------------
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
www.TradeStalker.com
PO Box 9783, Ft Wayne, IN, 46899
Disclaimer
The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.
We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************
TradeStalker's
R.B.I. Trader's Update
10 / 27 / 2009
(Published Since 1996)
...............................................
Dateline: 7:36 pm eastern time, 10/27/2009
The ES opened higher on Tuesday then reversed from 1068.75.
The plunge lower took the ES to 1057.00, just over the
1056.75-1054.50 area and reversed. A good rally followed,
however the 1068.50-1069.00 area was exceeded by 2 ticks
then the move reversed, and the ES fell to test the low. Off
of the 1057.00 low, the ES bounced and then pulled back to a
higher low and a 1-2-3 bottom was in place. A rising wedge
formed, and off the 1065.50 top the ES dropped to 1058.25
before firming into the close.
The market continues to act poorly. However, the short term
indicators are now very oversold. My 3 day Thrust oscillator
is at -.81 (+/-.50 normal extreme), the RBI Oscillator is in
buy territory, and the McClellan Oscillator reached the -250
level. The Vix, which gave a lot of sell signals last week,
jumped quite a bit over the last 2 days and is giving 1 buy
signal here.
The market should normally rally, or give back and forth
action at the worst, under this condition *unless* the
market is in a melt-down mode. A decent rally could be in
the cards as long as the initial support areas are held on
Wednesday. If those support zones are not held, then the
1054.50-1054.00 area on the ES is as far as a drop should go
if there is going to be a decent rally. If we do get a
decent rally, it will make a good shorting opportunity
should the ES get back towards the 1072.50-1073.25 area on
the ES, and then stall and/or reverse back to the downside.
December 2009 SP futures resistance
symbols: emini = esz9 / big contract =spz9
1065.50-1066.00
1069.00-1069.50
1072.50-1073.25
1076.50-1077.25
1083.00-1084.00
December 2009 SP futures support
symbols: emini = esz9 / big contract =spz9
1058.00-1057.00
1054.50-1054.00
1050.50-1049.75
1045.75-1044.75
December 2009 Nasdaq futures resistance
symbols: emini = nqz9 / big contract = ndz9
1728.75-1729.50
1733.75-1734.50
1737.50-1738.50
1746.50-1747.25
December 2009 Nasdaq futures support
symbols: emini = nqz9 / big contract = ndz9
1714.00-1713.00
1707.50-1706.50
1700.25-1699.00
1692.75-1690.50
December 2009 Dow futures resistance
symbols: emini = ymz9
9870-9875
9893-9899
9918-9923
9944-9947
December 2009 Dow futures support
symbols: emini = ymz9
9812-9807
9783-9779
9734-9728
9698-9692
---------------------------
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
www.TradeStalker.com
PO Box 9783, Ft Wayne, IN, 46899
Disclaimer
The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.
We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************
Today's Trading Recap: 10/27/09
HOW OUR DAY WENT:
The ES plunged to 1057.00 in the first
40 minutes of trading. That was just 1 tick above the
1056.75-1054.50 support. The bounce back was to be sold,
and the ES reversed from 1 tick over the 1069.00 updated
resistance, then dropped back 12 points to a 1057.25 low.
The ES then made a 123 top around 1065 setting up another
short that took the ES to 1058.25 before a bounce.
Good Trading,
Mike Reed
TradeStalker.com
The ES plunged to 1057.00 in the first
40 minutes of trading. That was just 1 tick above the
1056.75-1054.50 support. The bounce back was to be sold,
and the ES reversed from 1 tick over the 1069.00 updated
resistance, then dropped back 12 points to a 1057.25 low.
The ES then made a 123 top around 1065 setting up another
short that took the ES to 1058.25 before a bounce.
Good Trading,
Mike Reed
TradeStalker.com
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