.................................................
TradeStalker's
R.B.I. Trader's Update
8 / 31 / 2009
(Published Since 1996)
...............................................
Dateline: 6:08 pm eastern time, 8/31/2009
The market gapped down on Monday and under the key support,
and kept dropping until the 1014.75-1014.00 area was broken
by a bit, and then reversed. This was in line with what I
wrote on Sunday night, stating:
"If there is a sharp drop from under the 1030 level,
then the 1014.75-1014.00 area could be broken by a bit
before the move either reverses or accelerates."
The ES fell to 1013.25 in the first 30 minutes, and then
reversed. After the bounce started I sent an instant message
stating:
(Aug 31-10:35) mike: a pop to 1019.50 is resist / short
if it in the next 10 minutes
The ES popped to 1019.50 a few minutes later, then dropped
4.00 points to 1015.50. The Instant Messages are a nice
addition for members, as more timely notes can be sent as
time allows me. In any case, the ES based out at the
1014.75-1014.25 area and then popped higher. The first pop
reversed at the 1019.75 level, then pulled back quickly. The
drop held at the 1014.75 level and then they rallied to a
new high for the day at the close.
The daily charts are looking toppy, and the late day bounce
appeared to be end of month induced. The upside should be
limited unless there is a bullish spark. The 1014.75-1014.25
area on the ES will need to hold on a pullback, otherwise
things will being to break down in a bigger way. At the
moment it looks like a rally back towards the 1029.25-
1030.00 zone on the ES may be asking too much, but if there
is a rally back to that area and it stalls/ reverses, it
would set up a very good shorting opportunity.
On Tuesday we get the ISM Index 30 minutes into the trading
day. If the market opens higher, look for a shorting
opportunity as soon as upside momentum fizzles. If the ES
pops up to 1024.50-1025.00 on the open and is rejected, it
will be a sign of weakness and the short side should set up
from there. On the other side, if the market opens lower,
look for a reversal from 1015.00 or above to set up a trade
on the long side. For now keep long trades on a tight leash
as the market is still vulnerable coming off of an August
high.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
1022.00-1022.50
1029.25-1030.00
1032.50-1033.25
1038.25-1038.75
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
1014.75-1014.25
1012.50
1008.00-1007.25
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1628.00-1628.75
1637.25-1638.50
1647.25-1648.50
1662.00-1662.50
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1617.50-1616.75
1610.50
1604.50-1603.50
September 2009 Dow futures resistance
symbols: emini = ymu9
9508-9511
9547-9551
9574-9577
9628-9633
September 2009 Dow futures support
symbols: emini = ymu9
9440-9336
9418
9374-9370
CLICK HERE for FREE Trading Articles and Videos!
Good Trading,
Mike Reed
Copyright (c) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
www.TradeStalker.com
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.
*************************************************
Tuesday, September 01, 2009
Today's Trading Recap: 08/31/09
HOW OUR DAY WENT:
The market opened under the key support
and it brought on what members were told to expect last night:
"If there is a sharp drop from under the 1030 level, then
the 1014.75-1014.00 area could be broken by a bit before
the move either reverses or accelerates."
The ES fell to 1013.25, and then reversed. Members were
sent this IM after the bounce started:
(Aug 31-10:35) mike: a pop to 1019.50 is resist / short
if it in the next 10 minutes
The ES popped to 1019.50 a few minutes later, then
dropped 4.00 points to 1015.50. The Instant Messages are
a nice addition for Real Time members, at no extra cost!!!
Good Trading,
Mike Reed
TradeStalker.com
The market opened under the key support
and it brought on what members were told to expect last night:
"If there is a sharp drop from under the 1030 level, then
the 1014.75-1014.00 area could be broken by a bit before
the move either reverses or accelerates."
The ES fell to 1013.25, and then reversed. Members were
sent this IM after the bounce started:
(Aug 31-10:35) mike: a pop to 1019.50 is resist / short
if it in the next 10 minutes
The ES popped to 1019.50 a few minutes later, then
dropped 4.00 points to 1015.50. The Instant Messages are
a nice addition for Real Time members, at no extra cost!!!
Good Trading,
Mike Reed
TradeStalker.com
TradeStalker's RBI Update 08/30/09
.................................................
TradeStalker's
R.B.I. Trader's Update
8 / 30 / 2009
(Published Since 1996)
...............................................
Dateline: 5:26 pm eastern time, 8/30/2009
On Thursday night I wrote:
"On Friday look for early strength to be sold as
soon as the upside stalls, especially if that
occurs in the first 20-40 minutes of trading and
the ES runs up to test the 1038 area."
The ES gapped up, reached 1038.75, then reversed. A trend-
down move lasted until just after noon when the ES turned up
from 1022.00. A pop to 1025.00 failed, then the ES pulled
back and reversed from a higher low at 1023.00. That made a
1-2-3 bottom pattern, and the ES rallied to 1028.75. A
pullback held the 1025 pivotal area, and then the ES ran up
to 1029.75 and stalled. That set up one more test of the
1025 area on the ES and 9520 on the Dow cash, then they
bounced back up into the close.
The SP500 cash has closed between 1025.57 and 1030.98 for 6
days in a row, and should begin to move away from that area
soon. The daily indicators are still in neutral, and the Vix
didn't stray too far away from the 25 level all week.
Normally when volatility shrinks at the top of a move, it
sets up a reversal. With a couple of sizable drops and a
couple of nice rallies at the end of last week, the market
should soon make a break and stick.
On Friday afternoon the market held the 1025 level on the ES
and also the 9520 level on the Dow cash. As long as those
are defended, nothing bad happens and a move back towards
the double top at the 1038-1039 area on the ES is possible.
If those levels are broken, then the market would be rolling
back over. If there is a sharp drop from under the 1030
level, then the 1014.75-1014.00 area could be broken by a
bit before the move either reverses or accelerates.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
1029.25-1030.00
1032.50-1033.25
1038.25-1038.75
1043.00-1043.50
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
1025.50-1025.00
1022.00
1020.75-1020.25
1017.50-1017.00
1014.75-1014.00
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1647.25-1648.50
1655.50-1656.25
1662.00-1662.50
1668.50-1669.25
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1637.75-1636.75
1631.50
1627.25-1626.50
1622.50-1621.75
1618.50-1617.75
September 2009 Dow futures resistance
symbols: emini = ymu9
9547-9551
9574-9577
9628-9633
9689-9693
September 2009 Dow futures support
symbols: emini = ymu9
9513-9508
9485
9475-9472
9448-9443
9420-9416
CLICK HERE for FREE Trading Articles and Videos!
Good Trading,
Mike Reed
Copyright (c) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
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
8 / 30 / 2009
(Published Since 1996)
...............................................
Dateline: 5:26 pm eastern time, 8/30/2009
On Thursday night I wrote:
"On Friday look for early strength to be sold as
soon as the upside stalls, especially if that
occurs in the first 20-40 minutes of trading and
the ES runs up to test the 1038 area."
The ES gapped up, reached 1038.75, then reversed. A trend-
down move lasted until just after noon when the ES turned up
from 1022.00. A pop to 1025.00 failed, then the ES pulled
back and reversed from a higher low at 1023.00. That made a
1-2-3 bottom pattern, and the ES rallied to 1028.75. A
pullback held the 1025 pivotal area, and then the ES ran up
to 1029.75 and stalled. That set up one more test of the
1025 area on the ES and 9520 on the Dow cash, then they
bounced back up into the close.
The SP500 cash has closed between 1025.57 and 1030.98 for 6
days in a row, and should begin to move away from that area
soon. The daily indicators are still in neutral, and the Vix
didn't stray too far away from the 25 level all week.
Normally when volatility shrinks at the top of a move, it
sets up a reversal. With a couple of sizable drops and a
couple of nice rallies at the end of last week, the market
should soon make a break and stick.
On Friday afternoon the market held the 1025 level on the ES
and also the 9520 level on the Dow cash. As long as those
are defended, nothing bad happens and a move back towards
the double top at the 1038-1039 area on the ES is possible.
If those levels are broken, then the market would be rolling
back over. If there is a sharp drop from under the 1030
level, then the 1014.75-1014.00 area could be broken by a
bit before the move either reverses or accelerates.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
1029.25-1030.00
1032.50-1033.25
1038.25-1038.75
1043.00-1043.50
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
1025.50-1025.00
1022.00
1020.75-1020.25
1017.50-1017.00
1014.75-1014.00
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1647.25-1648.50
1655.50-1656.25
1662.00-1662.50
1668.50-1669.25
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1637.75-1636.75
1631.50
1627.25-1626.50
1622.50-1621.75
1618.50-1617.75
September 2009 Dow futures resistance
symbols: emini = ymu9
9547-9551
9574-9577
9628-9633
9689-9693
September 2009 Dow futures support
symbols: emini = ymu9
9513-9508
9485
9475-9472
9448-9443
9420-9416
CLICK HERE for FREE Trading Articles and Videos!
Good Trading,
Mike Reed
Copyright (c) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
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: 08/28/09
HOW OUR DAY WENT:
We finished the week with a great early
trade. Last night members were told:
"On Friday look for early strength to be sold as soon as
the upside stalls, especially if that occurs in the first
20-40 minutes of trading and the ES runs up to test the
1038 area."
The ES gapped up, reached 1038.75, then reversed. A trend-
down move lasted until just after noon when the ES turned up
from 1022.00. A pop to 1025.00 failed, then the ES pulled back
and reversed from a higher low. That was 123 bottom, and the
ES rallied to 1028.75. Then, to finish the day the group was
told that 1025 on the ES and 9520 on the Dow were pivotal...
both were tested and reversed and the ES ran up to 1029.75
Good Trading,
Mike Reed
TradeStalker.com
We finished the week with a great early
trade. Last night members were told:
"On Friday look for early strength to be sold as soon as
the upside stalls, especially if that occurs in the first
20-40 minutes of trading and the ES runs up to test the
1038 area."
The ES gapped up, reached 1038.75, then reversed. A trend-
down move lasted until just after noon when the ES turned up
from 1022.00. A pop to 1025.00 failed, then the ES pulled back
and reversed from a higher low. That was 123 bottom, and the
ES rallied to 1028.75. Then, to finish the day the group was
told that 1025 on the ES and 9520 on the Dow were pivotal...
both were tested and reversed and the ES ran up to 1029.75
Good Trading,
Mike Reed
TradeStalker.com
Thursday, August 27, 2009
TradeStalker's RBI Update 08/27/09
.................................................
TradeStalker's
R.B.I. Trader's Update
8 / 27 / 2009
(Published Since 1996)
...............................................
Dateline: 6:32 pm eastern time, 8/27/2009
Last night I wrote:
"A washout should be around the corner, and then a
rally might be able to reassert itself." And
later, "...a trip towards the 1014.75-1014.00 zone
could be in the cards before buyers step to the
plate".
The ES opened flat at 1026.75, then went straight down to
1014.75 in the first 40 minutes of trading. Then a little
double bottom was made and the buyers stepped to the plate
and took the ES all the way to 1032.75 by 2:40 pm. Then, as
the ES was at 1032.00, just a few ticks from the high, I
Instant Messaged the group:
"(Aug 27-14:47) Mike: this is getting parabolic,
careful w/new long up here."
That 1032 level wasn't seen again as a drop to 1028.50
followed before the close.
The market made an impressive comeback after the early
shellacking it took on Thursday. We are in the timeframe
that tends to be bullish, normally for a mark-up into the
end of the month. Nearly all of my indicators are neutral,
although the sentiment is a bit overly bullish. The market
has made good moves in both directions this week, and it is
back to the top side of this trading range. The dips should
offer good buying opportunities and the rallies should set
up shorting opportunities when the upside move runs for
awhile then stalls. A pullback of 4-6 points on the ES
should hold if the market is going to be strong. If they
fall more than that, then the 1020.75-1020.25 zone on the ES
could be seen again. It must hold, otherwise there is
something not right and a top formation could be in the
works.
On Friday look for early strength to be sold as soon as the
upside stalls, especially if that occurs in the first 20-40
minutes of trading and the ES runs up to test the 1038 area.
If that plays out, beware that the first good drop should
set up a trade on the long side as long as that 1020.75-
1020.25 zone holds.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
1030.50
1032.00-1032.75
1035.00-1035.50
1038.00-1038.50 **key
1043.00-1043.50
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
1028.50
1024.50-1024.00 **key
1020.75-1020.25
1017.50-1017.00
1014.75-1014.00 **major
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1640.25
1642.75-1643.50
1649.00-1649.75
1655.00-1655.50 **key
1661.00-1662.00
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1635.50
1627.25-1626.50 **key
1622.25-1621.50
1618.50-1617.75
1611.50-1610.50 **major
September 2009 Dow futures resistance
symbols: emini = ymu9
9575
9596-9599
9619-9622
9650-9653 **key
9689-9693
September 2009 Dow futures support
symbols: emini = ymu9
9555
9542-9537 **key
9517-9513
9479-9475
9448-9443 **major
CLICK HERE for FREE Trading Articles and Videos!
Good Trading,
Mike Reed
Copyright (c) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
This publication's primary focus is trading the index
futures. However, you can also use my nightly updates to
trade the following ETF's (SPY), (QQQQ), (SDS), (QID),
(DIA), and (DOG)
www.TradeStalker.com
PO Box 9783, Ft Wayne, IN, 46899
Disclaimer
The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.
We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************
TradeStalker's
R.B.I. Trader's Update
8 / 27 / 2009
(Published Since 1996)
...............................................
Dateline: 6:32 pm eastern time, 8/27/2009
Last night I wrote:
"A washout should be around the corner, and then a
rally might be able to reassert itself." And
later, "...a trip towards the 1014.75-1014.00 zone
could be in the cards before buyers step to the
plate".
The ES opened flat at 1026.75, then went straight down to
1014.75 in the first 40 minutes of trading. Then a little
double bottom was made and the buyers stepped to the plate
and took the ES all the way to 1032.75 by 2:40 pm. Then, as
the ES was at 1032.00, just a few ticks from the high, I
Instant Messaged the group:
"(Aug 27-14:47) Mike: this is getting parabolic,
careful w/new long up here."
That 1032 level wasn't seen again as a drop to 1028.50
followed before the close.
The market made an impressive comeback after the early
shellacking it took on Thursday. We are in the timeframe
that tends to be bullish, normally for a mark-up into the
end of the month. Nearly all of my indicators are neutral,
although the sentiment is a bit overly bullish. The market
has made good moves in both directions this week, and it is
back to the top side of this trading range. The dips should
offer good buying opportunities and the rallies should set
up shorting opportunities when the upside move runs for
awhile then stalls. A pullback of 4-6 points on the ES
should hold if the market is going to be strong. If they
fall more than that, then the 1020.75-1020.25 zone on the ES
could be seen again. It must hold, otherwise there is
something not right and a top formation could be in the
works.
On Friday look for early strength to be sold as soon as the
upside stalls, especially if that occurs in the first 20-40
minutes of trading and the ES runs up to test the 1038 area.
If that plays out, beware that the first good drop should
set up a trade on the long side as long as that 1020.75-
1020.25 zone holds.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
1030.50
1032.00-1032.75
1035.00-1035.50
1038.00-1038.50 **key
1043.00-1043.50
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
1028.50
1024.50-1024.00 **key
1020.75-1020.25
1017.50-1017.00
1014.75-1014.00 **major
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1640.25
1642.75-1643.50
1649.00-1649.75
1655.00-1655.50 **key
1661.00-1662.00
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1635.50
1627.25-1626.50 **key
1622.25-1621.50
1618.50-1617.75
1611.50-1610.50 **major
September 2009 Dow futures resistance
symbols: emini = ymu9
9575
9596-9599
9619-9622
9650-9653 **key
9689-9693
September 2009 Dow futures support
symbols: emini = ymu9
9555
9542-9537 **key
9517-9513
9479-9475
9448-9443 **major
CLICK HERE for FREE Trading Articles and Videos!
Good Trading,
Mike Reed
Copyright (c) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
This publication's primary focus is trading the index
futures. However, you can also use my nightly updates to
trade the following ETF's (SPY), (QQQQ), (SDS), (QID),
(DIA), and (DOG)
www.TradeStalker.com
PO Box 9783, Ft Wayne, IN, 46899
Disclaimer
The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.
We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************
Today's Trading Recap: 08/27/09
HOW OUR DAY WENT:
Last night Real Time members were told:
"A washout should be around the corner, and then a rally
might be able to reassert itself" and "...a trip towards
the 1014.75-1014.00 zone could be in the cards before
buyers step to the plate".
The ES opened flat at 1026.75, then went straight down
to 1014.75 in the first 40 minutes of trading. Then a
little double bottom was made, and the buyers stepped
to the plate and took the ES all the way to 1032.75 at
2:40pm. Then, as the ES was at 1032.00, just a few ticks
from the high, I sent an Instant Messege to the group:
(Aug 27-14:47) mike: this is getting parabolic, careful
w/ new long up here
That level wasn't seen again as adrop to 1028.50 followed.
Good Trading,
Mike Reed
TradeStalker.com
Last night Real Time members were told:
"A washout should be around the corner, and then a rally
might be able to reassert itself" and "...a trip towards
the 1014.75-1014.00 zone could be in the cards before
buyers step to the plate".
The ES opened flat at 1026.75, then went straight down
to 1014.75 in the first 40 minutes of trading. Then a
little double bottom was made, and the buyers stepped
to the plate and took the ES all the way to 1032.75 at
2:40pm. Then, as the ES was at 1032.00, just a few ticks
from the high, I sent an Instant Messege to the group:
(Aug 27-14:47) mike: this is getting parabolic, careful
w/ new long up here
That level wasn't seen again as adrop to 1028.50 followed.
Good Trading,
Mike Reed
TradeStalker.com
Wednesday, August 26, 2009
TradeStalker's RBI Update 08/26/09
.................................................
TradeStalker's
R.B.I. Trader's Update
8 / 26 / 2009
(Published Since 1996)
...............................................
Dateline: 6:15 pm eastern time, 8/26/2009
The ES went down to the 1021.25-1020.50 support on Wednesday
morning, and from a 1020.25 low the ES reversed 25 minutes
into trading. That set up a trade on the long side, and the
ES sprinted 1032.00 and stalled out. I stated that the
1032.00 level would NOT be exceeded if the market was
heading back down, and the ES sold off 9 points to the
updated 1024.50-1024.00 updated support. A bounce off of
that level was feeble, and the ES reversed from 1027.25 and
dropped 5 points to 1022.25. A bounce turned into a double
top at 1028.75, but the updated support at 1025.50-1024.50
area was defended (though 1024.25 was touched twice) and the
ES bounced back 4 points before the close.
We get Initial Claims and GDP before the open on Thursday.
The market has been spinning its wheels for a few days, and
the bullish sentiment is at a short term extreme. With the
market struggling to hold its gains lately, and the upside
losing momentum, it might not be the best buying opportunity
up here. A washout should be around the corner, and then a
rally might be able to reassert itself.
On Thursday, as long as the initial support areas are held,
no damage done. Just remember that the bounces are not
sticking, and that a rally back towards the highs would be
sold as soon as the move stalls out. If the market breaks
lower, and the Wednesday lows at key short term support are
broken, then a trip towards the 1014.75-1014.00 zone could
be in the cards before buyers step to the plate.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
1028.25-1028.75
1032.00-1032.50
1035.00-1035.50
1038.00-1038.50
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
1024.75-1024.25
1020.75-1020.25
1017.50-1017.00
1014.75-1014.00
1007.75-1007.00 *** STRONG***
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1640.00-1640.75
1644.00-1644.50
1649.00-1649.75
1655.00-1655.50
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1633.76-1633.00
1627.75-1627.25
1624.00-1623.50
1617.50-1617.00
1610.50-1608.75 *** STRONG****
September 2009 Dow futures resistance
symbols: emini = ymu9
9548-9552
9572-9574
9599-9602
9619-9622
September 2009 Dow futures support
symbols: emini = ymu9
9512-9509
9475-9472
9446-9442
9408-9404
9350-9346 *** STRONG****
CLICK HERE for FREE Trading Articles and Videos!
Good Trading,
Mike Reed
Copyright (c) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
This publication's primary focus is trading the index
futures. However, you can also use my nightly updates to
trade the following ETF's (SPY), (QQQQ), (SDS), (QID),
(DIA), and (DOG)
www.TradeStalker.com
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
8 / 26 / 2009
(Published Since 1996)
...............................................
Dateline: 6:15 pm eastern time, 8/26/2009
The ES went down to the 1021.25-1020.50 support on Wednesday
morning, and from a 1020.25 low the ES reversed 25 minutes
into trading. That set up a trade on the long side, and the
ES sprinted 1032.00 and stalled out. I stated that the
1032.00 level would NOT be exceeded if the market was
heading back down, and the ES sold off 9 points to the
updated 1024.50-1024.00 updated support. A bounce off of
that level was feeble, and the ES reversed from 1027.25 and
dropped 5 points to 1022.25. A bounce turned into a double
top at 1028.75, but the updated support at 1025.50-1024.50
area was defended (though 1024.25 was touched twice) and the
ES bounced back 4 points before the close.
We get Initial Claims and GDP before the open on Thursday.
The market has been spinning its wheels for a few days, and
the bullish sentiment is at a short term extreme. With the
market struggling to hold its gains lately, and the upside
losing momentum, it might not be the best buying opportunity
up here. A washout should be around the corner, and then a
rally might be able to reassert itself.
On Thursday, as long as the initial support areas are held,
no damage done. Just remember that the bounces are not
sticking, and that a rally back towards the highs would be
sold as soon as the move stalls out. If the market breaks
lower, and the Wednesday lows at key short term support are
broken, then a trip towards the 1014.75-1014.00 zone could
be in the cards before buyers step to the plate.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
1028.25-1028.75
1032.00-1032.50
1035.00-1035.50
1038.00-1038.50
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
1024.75-1024.25
1020.75-1020.25
1017.50-1017.00
1014.75-1014.00
1007.75-1007.00 *** STRONG***
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1640.00-1640.75
1644.00-1644.50
1649.00-1649.75
1655.00-1655.50
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1633.76-1633.00
1627.75-1627.25
1624.00-1623.50
1617.50-1617.00
1610.50-1608.75 *** STRONG****
September 2009 Dow futures resistance
symbols: emini = ymu9
9548-9552
9572-9574
9599-9602
9619-9622
September 2009 Dow futures support
symbols: emini = ymu9
9512-9509
9475-9472
9446-9442
9408-9404
9350-9346 *** STRONG****
CLICK HERE for FREE Trading Articles and Videos!
Good Trading,
Mike Reed
Copyright (c) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
This publication's primary focus is trading the index
futures. However, you can also use my nightly updates to
trade the following ETF's (SPY), (QQQQ), (SDS), (QID),
(DIA), and (DOG)
www.TradeStalker.com
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: 08/26/09
HOW OUR DAY WENT: The ES went down to the 1021.25-1020.50
support, and from a 1020.25 low the ES reversed 25 minutes
into trading. The set up a trade on the long side, and the
ES sprinted another 10 points higher. I then told the
group that the 1032.00 level would NOT be exceeded if it
was heading down, and that allowed a very good reward/risk
opportunity on the short side (with a tight stop just over
1032.00). The ES sold off 9 points to the updated 1024.50-
1024.00 updated support. I sent an IM telling the group
that 1027.75 was a resistance/reversal area, the ES
reversed from 1027.25 then dropped 5 points to 1022.25.
A bounce turned into a double top at 1028.75. Members
were given the 1024.50 as important support and they
reached 1024.25 (twice) then bounced almost 4 points
before the close.
Good Trading,
Mike Reed
TradeStalker.com
support, and from a 1020.25 low the ES reversed 25 minutes
into trading. The set up a trade on the long side, and the
ES sprinted another 10 points higher. I then told the
group that the 1032.00 level would NOT be exceeded if it
was heading down, and that allowed a very good reward/risk
opportunity on the short side (with a tight stop just over
1032.00). The ES sold off 9 points to the updated 1024.50-
1024.00 updated support. I sent an IM telling the group
that 1027.75 was a resistance/reversal area, the ES
reversed from 1027.25 then dropped 5 points to 1022.25.
A bounce turned into a double top at 1028.75. Members
were given the 1024.50 as important support and they
reached 1024.25 (twice) then bounced almost 4 points
before the close.
Good Trading,
Mike Reed
TradeStalker.com
Tuesday, August 25, 2009
TradeStalker's RBI Update 08/25/09
.................................................
TradeStalker's
R.B.I. Trader's Update
8 / 25 / 2009
(Published Since 1996)
...............................................
Dateline: 6:02 pm eastern time, 8/25/2009
Early strength was a short on Tuesday as the ES popped up to
1031.00 and then dropped 4.50 points to the new 1026.50
support. That set up a trade on the long, and the ES
sprinted to the 1038.00-1038.50 resistance. The move
fizzled, setting up a shorting opportunity, and the ES fell
from 1038.00 to the updated 1026.50 support again. A rally
from 1026.50 reversed from 1035.50, and then the ES fell to
1026.75 before bouncing. We were looking for a new low as
long as 1031 wasn't exceeded, and a bounce stalled at
1030.00 before falling to a new low at 1024.75. The ES
bounced back, but the move reversed from 1030.50 and the
market sold off into the close.
The market has been very resilient, however the way that the
market has acted so far this week, a top (for a few days
anyway) looks to be forming. The early strength hasn't been
able to hold, and the late selloffs are bearish. A trading
range, at best, is in the cards at the moment. The ES will
need to get over the initial resistance, and not quickly
reverse, to get out of potential trouble on Wednesday. If
double bottoms are not made by dipping and reversing from
the 1025.00-1024.50 area on the ES, then the 1021.25-1020.50
would need to be reversed to avoid falling back towards the
1014.75-1014.00 area. A drop to that area must turn around
quickly, otherwise a bigger correction could be underway.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
1030.00-1030.50
1035.00-1035.50
1038.00-1038.50
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
1025.00-1024.50
1021.25-1020.50
1017.50-1017.00
1014.75-1014.00
1007.75-1007.00 **strong
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1643.00-1644.00
1648.25-1649.00
1655.00-1655.50
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1635.00-1634.50
1627.75-1627.25
1624.00-1623.50
1620.50-1620.00
1610.50-1608.75 **strong
September 2009 Dow futures resistance
symbols: emini = ymu9
9562-9565
9599-9602
9615-9620
September 2009 Dow futures support
symbols: emini = ymu9
9514-9511
9477-9472
9446-9442
9408-9404
9350-9346 **strong
CLICK HERE for FREE Trading Articles and Videos!
Good Trading,
Mike Reed
Copyright (c) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
This publication's primary focus is trading the index
futures. However, you can also use my nightly updates to
trade the following ETF's (SPY), (QQQQ), (SDS), (QID),
(DIA), and (DOG)
www.TradeStalker.com
PO Box 9783, Ft Wayne, IN, 46899
Disclaimer
The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.
We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************
TradeStalker's
R.B.I. Trader's Update
8 / 25 / 2009
(Published Since 1996)
...............................................
Dateline: 6:02 pm eastern time, 8/25/2009
Early strength was a short on Tuesday as the ES popped up to
1031.00 and then dropped 4.50 points to the new 1026.50
support. That set up a trade on the long, and the ES
sprinted to the 1038.00-1038.50 resistance. The move
fizzled, setting up a shorting opportunity, and the ES fell
from 1038.00 to the updated 1026.50 support again. A rally
from 1026.50 reversed from 1035.50, and then the ES fell to
1026.75 before bouncing. We were looking for a new low as
long as 1031 wasn't exceeded, and a bounce stalled at
1030.00 before falling to a new low at 1024.75. The ES
bounced back, but the move reversed from 1030.50 and the
market sold off into the close.
The market has been very resilient, however the way that the
market has acted so far this week, a top (for a few days
anyway) looks to be forming. The early strength hasn't been
able to hold, and the late selloffs are bearish. A trading
range, at best, is in the cards at the moment. The ES will
need to get over the initial resistance, and not quickly
reverse, to get out of potential trouble on Wednesday. If
double bottoms are not made by dipping and reversing from
the 1025.00-1024.50 area on the ES, then the 1021.25-1020.50
would need to be reversed to avoid falling back towards the
1014.75-1014.00 area. A drop to that area must turn around
quickly, otherwise a bigger correction could be underway.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
1030.00-1030.50
1035.00-1035.50
1038.00-1038.50
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
1025.00-1024.50
1021.25-1020.50
1017.50-1017.00
1014.75-1014.00
1007.75-1007.00 **strong
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1643.00-1644.00
1648.25-1649.00
1655.00-1655.50
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1635.00-1634.50
1627.75-1627.25
1624.00-1623.50
1620.50-1620.00
1610.50-1608.75 **strong
September 2009 Dow futures resistance
symbols: emini = ymu9
9562-9565
9599-9602
9615-9620
September 2009 Dow futures support
symbols: emini = ymu9
9514-9511
9477-9472
9446-9442
9408-9404
9350-9346 **strong
CLICK HERE for FREE Trading Articles and Videos!
Good Trading,
Mike Reed
Copyright (c) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
This publication's primary focus is trading the index
futures. However, you can also use my nightly updates to
trade the following ETF's (SPY), (QQQQ), (SDS), (QID),
(DIA), and (DOG)
www.TradeStalker.com
PO Box 9783, Ft Wayne, IN, 46899
Disclaimer
The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.
We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************
Today's Trading Recap: 08/25/09
HOW OUR DAY WENT: Early strength was a short and the
ES popped up to 1031.00 and then dropped 4.50 points
to the new 1026.50 support. That set up a long, and
the ES sprinted to the 1038.00-1038.50 resistance. The
move fizzled, setting up a short, and the ES fell from
1038.00 to 1026.50 support again. A rally from 1026.50
reversed from 1035.50 and then the ES fell 8+ points to
1026.75 before bouncing. We were looking for a new low
as long as 1031 wasn't exceeded, and a bounce stalled
at 1030.00 before falling to a new low at 1024.75. So,
we had a number of real nice opportunities and nailed
the 1038.00 high and tradable support at 1026.50 until
it broke, which was expected.
Good Trading,
Mike Reed
TradeStalker.com
ES popped up to 1031.00 and then dropped 4.50 points
to the new 1026.50 support. That set up a long, and
the ES sprinted to the 1038.00-1038.50 resistance. The
move fizzled, setting up a short, and the ES fell from
1038.00 to 1026.50 support again. A rally from 1026.50
reversed from 1035.50 and then the ES fell 8+ points to
1026.75 before bouncing. We were looking for a new low
as long as 1031 wasn't exceeded, and a bounce stalled
at 1030.00 before falling to a new low at 1024.75. So,
we had a number of real nice opportunities and nailed
the 1038.00 high and tradable support at 1026.50 until
it broke, which was expected.
Good Trading,
Mike Reed
TradeStalker.com
TradeStalker's RBI Update 08/24/09
.................................................
TradeStalker's
R.B.I. Trader's Update
8 / 24 / 2009
(Published Since 1996)
...............................................
Dateline: 6:28 pm eastern time, 8/24/2009
The market opened strong on Monday, and a choppy trend up
move lasted for about an hour and a half before it ran out
of gas. The ES stalled and turned down from 1035.00, and
then after 1031.75 was broken, a top was in place. The ES
fell to 1023.25 before finally bouncing. That bounce fizzled
at the 1027.50 updated resistance, and then the market fell
again. The ES dropped to 1021.25, a tick over the 1021.00-
1020.50 support, and bounced back. The bounce
fizzled/reversed off of 1026.00, and then went back to test
the low. The ES turned up from 1021.75, and then snapped
right back to 1026.25 before the close.
The market started the day on a good note on Monday, but the
move wouldn't stick and the ES dropped from new recovery
high ground back to what appears to be important support at
the 1021.25-1020.50 area. The way the intraday charts look,
a break of that 1021.25-1020.50 area that is not quickly
reversed would make a little head and shoulder pattern. If
that happens, it would point the ES toward the 1007.75-
1007.00 area. In order to nullify that pattern, and spark a
rally, the initial resistance areas would need to be
exceeded, and then hold on a pullback. If that occurs and
the market goes back to test the Monday highs, it should set
up a good shorting opportunity.
We will see how things play out by the numbers on Tuesday.
On Tuesday we get the Consumer Confidence 30 minutes into
the trading day. With the short term overbought extremes and
a couple of Vix sell signals, the market is vulnerable
unless the initial resistance is broken and held. Should the
ES get back to test the Monday highs, and the move runs out
of gas and stalls out like on Monday, a repeat of the Monday
action is likely.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
1026.50-1027.50
1032.00-1032.50
1035.00
1038.00-1038.50
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
1021.25-1020.50
1017.50
1014.75-1014.00
1007.75-1007.00 **strong
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1639.00-1639.75
1642.75-1643.00
1648.25
1652.00-1653.50
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1627.75-1627.25
1624.00
1620.50-1620.00
1610.50-1608.75 **strong
September 2009 Dow futures resistance
symbols: emini = ymu9
9514-9519
9552-9555
9576
9591-9596
September 2009 Dow futures support
symbols: emini = ymu9
9474-9470
9442
9408-9404
9350-9346 **strong
---------------------------
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
www.TradeStalker.com
PO Box 9783, Ft Wayne, IN, 46899
Disclaimer
The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.
We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************
TradeStalker's
R.B.I. Trader's Update
8 / 24 / 2009
(Published Since 1996)
...............................................
Dateline: 6:28 pm eastern time, 8/24/2009
The market opened strong on Monday, and a choppy trend up
move lasted for about an hour and a half before it ran out
of gas. The ES stalled and turned down from 1035.00, and
then after 1031.75 was broken, a top was in place. The ES
fell to 1023.25 before finally bouncing. That bounce fizzled
at the 1027.50 updated resistance, and then the market fell
again. The ES dropped to 1021.25, a tick over the 1021.00-
1020.50 support, and bounced back. The bounce
fizzled/reversed off of 1026.00, and then went back to test
the low. The ES turned up from 1021.75, and then snapped
right back to 1026.25 before the close.
The market started the day on a good note on Monday, but the
move wouldn't stick and the ES dropped from new recovery
high ground back to what appears to be important support at
the 1021.25-1020.50 area. The way the intraday charts look,
a break of that 1021.25-1020.50 area that is not quickly
reversed would make a little head and shoulder pattern. If
that happens, it would point the ES toward the 1007.75-
1007.00 area. In order to nullify that pattern, and spark a
rally, the initial resistance areas would need to be
exceeded, and then hold on a pullback. If that occurs and
the market goes back to test the Monday highs, it should set
up a good shorting opportunity.
We will see how things play out by the numbers on Tuesday.
On Tuesday we get the Consumer Confidence 30 minutes into
the trading day. With the short term overbought extremes and
a couple of Vix sell signals, the market is vulnerable
unless the initial resistance is broken and held. Should the
ES get back to test the Monday highs, and the move runs out
of gas and stalls out like on Monday, a repeat of the Monday
action is likely.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
1026.50-1027.50
1032.00-1032.50
1035.00
1038.00-1038.50
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
1021.25-1020.50
1017.50
1014.75-1014.00
1007.75-1007.00 **strong
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1639.00-1639.75
1642.75-1643.00
1648.25
1652.00-1653.50
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1627.75-1627.25
1624.00
1620.50-1620.00
1610.50-1608.75 **strong
September 2009 Dow futures resistance
symbols: emini = ymu9
9514-9519
9552-9555
9576
9591-9596
September 2009 Dow futures support
symbols: emini = ymu9
9474-9470
9442
9408-9404
9350-9346 **strong
---------------------------
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
www.TradeStalker.com
PO Box 9783, Ft Wayne, IN, 46899
Disclaimer
The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.
We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************
Today's Trading Recap: 08/24/09
HOW OUR DAY WENT: Early strength into new high ground
ran out of steam at 1035.00 on the ES, we had resistance
at 1036.00 and members were Instant Messaged that a top
could be in place. The market proved it shortly there-
after and the ES dropped to 1023.25. Updated resistance
at 1027.50 was met on the bounce, then a drop to 1021.25
new low followed. That was 1 tick above the 1021.00-
1020.50 support zone. A 4.75 point bounce off of that
support followed, but it fizzled and at 1026.00 and set
up a short, and the ES fell to 1021.75 before a rebound
into the close.
Good Trading,
Mike Reed
TradeStalker.com
ran out of steam at 1035.00 on the ES, we had resistance
at 1036.00 and members were Instant Messaged that a top
could be in place. The market proved it shortly there-
after and the ES dropped to 1023.25. Updated resistance
at 1027.50 was met on the bounce, then a drop to 1021.25
new low followed. That was 1 tick above the 1021.00-
1020.50 support zone. A 4.75 point bounce off of that
support followed, but it fizzled and at 1026.00 and set
up a short, and the ES fell to 1021.75 before a rebound
into the close.
Good Trading,
Mike Reed
TradeStalker.com
TradeStalker's RBI Update 08/23/09
.................................................
TradeStalker's
R.B.I. Trader's Update
8 / 23 / 2009
(Published Since 1996)
...............................................
Dateline: 5:26 pm eastern time, 8/23/2009
Last week started with the ES dropping 21.50 points off of
the 1005.75 previous Friday close. On Tuesday and Wednesday,
the ES was reversed from just under the 980 level and by
Thursday's close the ES made it a round trip back to close
at 1004.75. I was expecting a selloff from there, but on
Friday the ES gapped up 9 points on the open. That was a
breakout to a new recovery high, and the ES rallied to the
1027.00 before backing off a bit into the close.
The market continues to be very resilient, as buying
continues to come in on the pullbacks. Right now however,
the market should be a bit extended. The closing Trin on
Friday was a miniscule .30. If the numbers were turned
around, that is the same as a closing Trin at 3.40. Those
are short term extremes that tend to mark a turn in the
trend within the next 7 trading hours. In addition, the
short term gauges are at big extremes on the overbought
side. Finally, the Vix jumped way up on Monday and it gave a
couple buy signals, but at Friday's close we had the
opposite and one Vix sell signal.
So, it looks like the market should pull back some early in
the week, and then when we get to Wednesday the end of month
upside bias should take hold and give the market a lift. On
Monday look for early strength to set up a shorting
opportunity. However, as long as the ES doesn't break the
1021.00-1020.50 area, the trends will still point higher. If
that area breaks, there should be strong support around the
1014.75-1014.00 area that should hold unless the market is
losing its strength.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
1026.50-1027.00
1030.50-1031.00
1036.00-1036.50
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
1024.75
1021.00-1020.50
1014.75-1014.00
1007.75-1007.00 **strong
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1639.00-1639.75
1645.50-1646.00
1652.00-1653.50
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1633.75
1627.75-1627.00
1620.50-1620.00
1610.50-1608.75 **strong
September 2009 Dow futures resistance
symbols: emini = ymu9
9504-9508
9541-9544
9591-9596
September 2009 Dow futures support
symbols: emini = ymu9
9478
9464-9460
9408-9404
9350-9346 **strong
---------------------------
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
www.TradeStalker.com
PO Box 9783, Ft Wayne, IN, 46899
Disclaimer
The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.
We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************
TradeStalker's
R.B.I. Trader's Update
8 / 23 / 2009
(Published Since 1996)
...............................................
Dateline: 5:26 pm eastern time, 8/23/2009
Last week started with the ES dropping 21.50 points off of
the 1005.75 previous Friday close. On Tuesday and Wednesday,
the ES was reversed from just under the 980 level and by
Thursday's close the ES made it a round trip back to close
at 1004.75. I was expecting a selloff from there, but on
Friday the ES gapped up 9 points on the open. That was a
breakout to a new recovery high, and the ES rallied to the
1027.00 before backing off a bit into the close.
The market continues to be very resilient, as buying
continues to come in on the pullbacks. Right now however,
the market should be a bit extended. The closing Trin on
Friday was a miniscule .30. If the numbers were turned
around, that is the same as a closing Trin at 3.40. Those
are short term extremes that tend to mark a turn in the
trend within the next 7 trading hours. In addition, the
short term gauges are at big extremes on the overbought
side. Finally, the Vix jumped way up on Monday and it gave a
couple buy signals, but at Friday's close we had the
opposite and one Vix sell signal.
So, it looks like the market should pull back some early in
the week, and then when we get to Wednesday the end of month
upside bias should take hold and give the market a lift. On
Monday look for early strength to set up a shorting
opportunity. However, as long as the ES doesn't break the
1021.00-1020.50 area, the trends will still point higher. If
that area breaks, there should be strong support around the
1014.75-1014.00 area that should hold unless the market is
losing its strength.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
1026.50-1027.00
1030.50-1031.00
1036.00-1036.50
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
1024.75
1021.00-1020.50
1014.75-1014.00
1007.75-1007.00 **strong
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1639.00-1639.75
1645.50-1646.00
1652.00-1653.50
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1633.75
1627.75-1627.00
1620.50-1620.00
1610.50-1608.75 **strong
September 2009 Dow futures resistance
symbols: emini = ymu9
9504-9508
9541-9544
9591-9596
September 2009 Dow futures support
symbols: emini = ymu9
9478
9464-9460
9408-9404
9350-9346 **strong
---------------------------
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
www.TradeStalker.com
PO Box 9783, Ft Wayne, IN, 46899
Disclaimer
The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.
We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************
Today's Trading Recap: 08/21/09
HOW OUR DAY WENT: I was really wrong about Friday being
a down day, but after the market got moving we adapted
and caught a short on the NQ and then when the ES
reversed from the updated support a buying opportunity
set up. Nobody is right all of the time, and by getting
back in the flow of things the day turned out all right.
Good Trading,
Mike Reed
TradeStalker.com
a down day, but after the market got moving we adapted
and caught a short on the NQ and then when the ES
reversed from the updated support a buying opportunity
set up. Nobody is right all of the time, and by getting
back in the flow of things the day turned out all right.
Good Trading,
Mike Reed
TradeStalker.com
TradeStalker's RBI Update 08/20/09
.................................................
TradeStalker's
R.B.I. Trader's Update
8 / 20 / 2009
(Published Since 1996)
...............................................
Dateline: 6:26 pm eastern time, 8/20/2009
A lower open was reversed on Thursday, and the ES rallied
from 994.25 up to the 1003.50-1004.00 resistance zone. From
1 tick under that zone, the ES pulled back 4 points from
1003.25 to 999.25 and then turned right back. The ES then
bounced back to 1004.75 before fizzling and pulling back.
The 1004.50 area turned into a lid, but the ES traded in a
3.50 point range for over 4 hours. Then in the last hour the
market caught a bid and rallied up to make a tiny double top
at 1007.75. That was aggressively sold and the futures fell
off into the close.
The market is back near the highs, so the upside won't be
easy from here. The market had 3 decent days after the
Monday drop, but the air gets thin when the market gets up
here. The bids dry up and locking in profits is the first
order of business. The way the futures acted near the close
looks like a tip-off for lower prices on Friday. The ES
settled under fair value for the first time in 6 days. They
also quickly rejected a good resistance area (the 1007 level
was exceeded by 3/4 of a point), rather than punish shorts
with another big run-up into settlement time.
We get Existing Home Sales 30 minutes into trading on
Friday. At this point it looks like reward/risk is skewed in
favor of the bears short term. Also, a poor day on Friday
would give 1-2-3 top patterns on the daily charts. Bigger
picture, it would make the weekly low at 975.50 a major
support level, and odds would be good for a drop towards the
965.50 level at a minimum.
On Friday look to sell any early strength that reverses from
around the initial resistance, if we get that. If the market
opens lower, then beware that the first bounce will set up a
shorting opportunity if the move stalls out or quickly
reverses, especially if that occurs just under the Thursday
afternoon highs. It would take a solid move through those
areas, that's not quickly reversed, to set up a little melt-
up action. If somehow the ES rallies through the 1016.00-
1017.00 area, then we could see 1024-1025 before the upside
tops out. It is low odds, so don't hold your breath on that
happening.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
1007.50-1008.00
1012.00-1012.50
1016.00-1017.00
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
1004.25
1002.00-1001.50
999.00-998.50
992.25-991.50
988.75-987.75
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1619.75-1620.25
1624.50-1625.50
1629.25-1631.00
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1612.75
1608.25-1607.50
1604.00-1603.00
1597.75-1596.50
1591.50-1590.25
September 2009 Dow futures resistance
symbols: emini = ymu9
9347-9352
9388-9394
9408-9411
September 2009 Dow futures support
symbols: emini = ymu9
9315
9302-9298
9279-9276
9242-9238
9201-9197
---------------------------
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
www.TradeStalker.com
PO Box 9783, Ft Wayne, IN, 46899
Disclaimer
The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.
We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************
TradeStalker's
R.B.I. Trader's Update
8 / 20 / 2009
(Published Since 1996)
...............................................
Dateline: 6:26 pm eastern time, 8/20/2009
A lower open was reversed on Thursday, and the ES rallied
from 994.25 up to the 1003.50-1004.00 resistance zone. From
1 tick under that zone, the ES pulled back 4 points from
1003.25 to 999.25 and then turned right back. The ES then
bounced back to 1004.75 before fizzling and pulling back.
The 1004.50 area turned into a lid, but the ES traded in a
3.50 point range for over 4 hours. Then in the last hour the
market caught a bid and rallied up to make a tiny double top
at 1007.75. That was aggressively sold and the futures fell
off into the close.
The market is back near the highs, so the upside won't be
easy from here. The market had 3 decent days after the
Monday drop, but the air gets thin when the market gets up
here. The bids dry up and locking in profits is the first
order of business. The way the futures acted near the close
looks like a tip-off for lower prices on Friday. The ES
settled under fair value for the first time in 6 days. They
also quickly rejected a good resistance area (the 1007 level
was exceeded by 3/4 of a point), rather than punish shorts
with another big run-up into settlement time.
We get Existing Home Sales 30 minutes into trading on
Friday. At this point it looks like reward/risk is skewed in
favor of the bears short term. Also, a poor day on Friday
would give 1-2-3 top patterns on the daily charts. Bigger
picture, it would make the weekly low at 975.50 a major
support level, and odds would be good for a drop towards the
965.50 level at a minimum.
On Friday look to sell any early strength that reverses from
around the initial resistance, if we get that. If the market
opens lower, then beware that the first bounce will set up a
shorting opportunity if the move stalls out or quickly
reverses, especially if that occurs just under the Thursday
afternoon highs. It would take a solid move through those
areas, that's not quickly reversed, to set up a little melt-
up action. If somehow the ES rallies through the 1016.00-
1017.00 area, then we could see 1024-1025 before the upside
tops out. It is low odds, so don't hold your breath on that
happening.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
1007.50-1008.00
1012.00-1012.50
1016.00-1017.00
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
1004.25
1002.00-1001.50
999.00-998.50
992.25-991.50
988.75-987.75
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1619.75-1620.25
1624.50-1625.50
1629.25-1631.00
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1612.75
1608.25-1607.50
1604.00-1603.00
1597.75-1596.50
1591.50-1590.25
September 2009 Dow futures resistance
symbols: emini = ymu9
9347-9352
9388-9394
9408-9411
September 2009 Dow futures support
symbols: emini = ymu9
9315
9302-9298
9279-9276
9242-9238
9201-9197
---------------------------
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: 08/20/09
HOW OUR DAY WENT: The ES rallied to the 1003.50-
1004.00 resistance after the reversal at the open. The
ES barely poked over that zone, then gave us a 4 point
pullback. Then members were told that the 1004.25
level was in important level to get thru. Giving
that a 1 tick leeway, the ES rejected that level
3 times. In the last hour the ES cut through that
lid and moved up to 1007.75. They broke our target for
a reversal by 3/4 of a point, then reversed and fell
into the close.
Good Trading,
Mike Reed
TradeStalker.com
1004.00 resistance after the reversal at the open. The
ES barely poked over that zone, then gave us a 4 point
pullback. Then members were told that the 1004.25
level was in important level to get thru. Giving
that a 1 tick leeway, the ES rejected that level
3 times. In the last hour the ES cut through that
lid and moved up to 1007.75. They broke our target for
a reversal by 3/4 of a point, then reversed and fell
into the close.
Good Trading,
Mike Reed
TradeStalker.com
Wednesday, August 19, 2009
TradeStalker's RBI Update 08/19/09
.................................................
TradeStalker's
R.B.I. Trader's Update
8 / 19 / 2009
(Published Since 1996)
...............................................
Dateline: 6:21 pm eastern time, 8/19/2009
The ES opened down 11 points on Wednesday and reversed right
from the get-go. The break and hold back over the 981.00-
981.50 zone was good for a sprint to 988.75 before the move
fizzled. A triangle pattern formed, but the market was
"okay" if 985.50 held and that was the pullback low before
the market shot higher again. The rally was rejected just 1
tick over the 998.00-998.50 resistance zone, and then a
pullback to 991.50 followed. Buyers stepped to the plate in
the last 45 minutes and the market rallied into the close.
On Thursday we get initial jobless claims before the open,
and it could be a market mover. The drops, no matter how
hard, are finding buyers coming in and it is keeping the
market afloat. However, when the upside stalls out we get
good tradable pullbacks. For now, treat this as a trading
range. Look for a buying opportunity if the market gets hit
again, but still holds over the 975.50-974.50 area on the
ES. On the upside, should the ES rally back over the 1000
level, beware of a reversal when the move stalls out. It
looks like the 1006.50-1007.00 area on the ES should offer
strong resistance.
On Thursday look to "fade" the early emotion especially if
there is a pop up open that reverses in the first 30 minutes
or so. If that plays out, a drop back towards the 989.50-
989.00 area should be reversed if the market is still in
good shape.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
998.25-998.75
1003.50-1004.00
1006.50-1007.00 **key area
1012.00-1012.50
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
992.00-991.50
989.50-989.00 **should hold if strong market
985.50-985.00
981.50-981.00
975.50-974.50 ** short term major
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1600.75-1601.75
1609.50-1610.50
1615.75-1616.50 **key area
1622.50-1623.50
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1592.00-1591.50
1586.50-1586.00 **should hold if strong market
1579.00-1578.25
1572.50-1571.25
1562.25-1561.25 ** short term major
September 2009 Dow futures resistance
symbols: emini = ymu9
9297-9301
9347-9351
9374-9378 **key area
9428-9431
September 2009 Dow futures support
symbols: emini = ymu9
9242-9238
9213-9209 **should hold if strong market
9178-9173
9154-9149
9091-9085 ** short term major
CLICK HERE for FREE Trading Articles and Videos!
Good Trading,
Mike Reed
Copyright (c) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
This publication's primary focus is trading the index
futures. However, you can also use my nightly updates to
trade the following ETF's (SPY), (QQQQ), (SDS), (QID),
(DIA), and (DOG)
www.TradeStalker.com
PO Box 9783, Ft Wayne, IN, 46899
Disclaimer
The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.
We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************
TradeStalker's
R.B.I. Trader's Update
8 / 19 / 2009
(Published Since 1996)
...............................................
Dateline: 6:21 pm eastern time, 8/19/2009
The ES opened down 11 points on Wednesday and reversed right
from the get-go. The break and hold back over the 981.00-
981.50 zone was good for a sprint to 988.75 before the move
fizzled. A triangle pattern formed, but the market was
"okay" if 985.50 held and that was the pullback low before
the market shot higher again. The rally was rejected just 1
tick over the 998.00-998.50 resistance zone, and then a
pullback to 991.50 followed. Buyers stepped to the plate in
the last 45 minutes and the market rallied into the close.
On Thursday we get initial jobless claims before the open,
and it could be a market mover. The drops, no matter how
hard, are finding buyers coming in and it is keeping the
market afloat. However, when the upside stalls out we get
good tradable pullbacks. For now, treat this as a trading
range. Look for a buying opportunity if the market gets hit
again, but still holds over the 975.50-974.50 area on the
ES. On the upside, should the ES rally back over the 1000
level, beware of a reversal when the move stalls out. It
looks like the 1006.50-1007.00 area on the ES should offer
strong resistance.
On Thursday look to "fade" the early emotion especially if
there is a pop up open that reverses in the first 30 minutes
or so. If that plays out, a drop back towards the 989.50-
989.00 area should be reversed if the market is still in
good shape.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
998.25-998.75
1003.50-1004.00
1006.50-1007.00 **key area
1012.00-1012.50
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
992.00-991.50
989.50-989.00 **should hold if strong market
985.50-985.00
981.50-981.00
975.50-974.50 ** short term major
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1600.75-1601.75
1609.50-1610.50
1615.75-1616.50 **key area
1622.50-1623.50
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1592.00-1591.50
1586.50-1586.00 **should hold if strong market
1579.00-1578.25
1572.50-1571.25
1562.25-1561.25 ** short term major
September 2009 Dow futures resistance
symbols: emini = ymu9
9297-9301
9347-9351
9374-9378 **key area
9428-9431
September 2009 Dow futures support
symbols: emini = ymu9
9242-9238
9213-9209 **should hold if strong market
9178-9173
9154-9149
9091-9085 ** short term major
CLICK HERE for FREE Trading Articles and Videos!
Good Trading,
Mike Reed
Copyright (c) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
This publication's primary focus is trading the index
futures. However, you can also use my nightly updates to
trade the following ETF's (SPY), (QQQQ), (SDS), (QID),
(DIA), and (DOG)
www.TradeStalker.com
PO Box 9783, Ft Wayne, IN, 46899
Disclaimer
The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.
We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************
Today's Trading Recap: 08/19/09
HOW OUR DAY WENT: The market gapped down on Wednesday,
then reversed right away. The break and hold back over
the 981.00-981.50 zone was good for a sprint to 988.75
before the move fizzled. A triangle pattern formed, but
members knew that the market was "ok" if 985.50 held and
that was the pull-back low before the market shot higher
again. The rally was rejected just 1 tick over the 998.00-
998.50 resistance zone, and then a pullback to 991.75
followed.
Good Trading,
Mike Reed
TradeStalker.com
then reversed right away. The break and hold back over
the 981.00-981.50 zone was good for a sprint to 988.75
before the move fizzled. A triangle pattern formed, but
members knew that the market was "ok" if 985.50 held and
that was the pull-back low before the market shot higher
again. The rally was rejected just 1 tick over the 998.00-
998.50 resistance zone, and then a pullback to 991.75
followed.
Good Trading,
Mike Reed
TradeStalker.com
Tuesday, August 18, 2009
TradeStalker's RBI Update 08/18/09
.................................................
TradeStalker's
R.B.I. Trader's Update
8 / 18 / 2009
...............................................
Dateline: 6:01 pm eastern time, 8/18/2009
The market opened higher on Tuesday, then after a pullback
to Monday's closing range on the ES, it reversed back to the
upside from a 979.00 low and then bounced back 10 points to
989.25 by noon. An early afternoon pullback was reversed
from 985.75 and then the choppy trend up move continued. The
ES popped up to 990.00 and then backed off Just as fast.
Another quick bounce back to 989.75 was reversed and then
after dropping 3.50 points the ES rallied back to settle
just under the high for the day.
The market was short term oversold after the Monday drop.
The recovery from the Monday selloff almost made it back to
the break-down zones, which are at the bottom of the old
trading range on the futures contracts. The market will
remain vulnerable unless the ES gets over the 992.25-992.75
and it not quickly reversed. Also, the initial support areas
need to hold on Wednesday. If those areas are not defended,
or quickly reversed if broken, then the oversold bounce
could be over and the intraday trends will roll over.
If there is early strength on Wednesday, it should set up a
good shorting opportunity. If that plays out, then be on
alert for a reversal from the initial support areas. If not
held, then the market will likely head back to test the
Monday lows and maybe breaking them before turning
back up..
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
992.25-992.75
994.75-995.50
998.00-998.50
1003.50-1004.00
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
985.50-984.50
981.50-981.00
975.50-974.50
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1589.50-1590.50
1594.50-1596.00
1601.75-1602.75
1610.50-1612.00
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1581.00-1580.25
1572.50-1571.25
1562.25-1561.25
September 2009 Dow futures resistance
symbols: emini = ymu9
9211-9215
9239-9243
9268-9271
9321-9326
September 2009 Dow futures support
symbols: emini = ymu9
9180-9176
9154-9149
9091-9085
CLICK HERE to watch a short video on how to best use our service in your own trading.
Good Trading,
Mike Reed
Copyright (c) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
This publication's primary focus is trading the index
futures. However, you can also use my nightly updates to
trade the following ETF's (SPY), (QQQQ), (SDS), (QID),
(DIA), and (DOG)
www.TradeStalker.com
PO Box 9783, Ft Wayne, IN, 46899
Disclaimer
The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.
We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************
TradeStalker's
R.B.I. Trader's Update
8 / 18 / 2009
...............................................
Dateline: 6:01 pm eastern time, 8/18/2009
The market opened higher on Tuesday, then after a pullback
to Monday's closing range on the ES, it reversed back to the
upside from a 979.00 low and then bounced back 10 points to
989.25 by noon. An early afternoon pullback was reversed
from 985.75 and then the choppy trend up move continued. The
ES popped up to 990.00 and then backed off Just as fast.
Another quick bounce back to 989.75 was reversed and then
after dropping 3.50 points the ES rallied back to settle
just under the high for the day.
The market was short term oversold after the Monday drop.
The recovery from the Monday selloff almost made it back to
the break-down zones, which are at the bottom of the old
trading range on the futures contracts. The market will
remain vulnerable unless the ES gets over the 992.25-992.75
and it not quickly reversed. Also, the initial support areas
need to hold on Wednesday. If those areas are not defended,
or quickly reversed if broken, then the oversold bounce
could be over and the intraday trends will roll over.
If there is early strength on Wednesday, it should set up a
good shorting opportunity. If that plays out, then be on
alert for a reversal from the initial support areas. If not
held, then the market will likely head back to test the
Monday lows and maybe breaking them before turning
back up..
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
992.25-992.75
994.75-995.50
998.00-998.50
1003.50-1004.00
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
985.50-984.50
981.50-981.00
975.50-974.50
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1589.50-1590.50
1594.50-1596.00
1601.75-1602.75
1610.50-1612.00
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1581.00-1580.25
1572.50-1571.25
1562.25-1561.25
September 2009 Dow futures resistance
symbols: emini = ymu9
9211-9215
9239-9243
9268-9271
9321-9326
September 2009 Dow futures support
symbols: emini = ymu9
9180-9176
9154-9149
9091-9085
CLICK HERE to watch a short video on how to best use our service in your own trading.
Good Trading,
Mike Reed
Copyright (c) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
This publication's primary focus is trading the index
futures. However, you can also use my nightly updates to
trade the following ETF's (SPY), (QQQQ), (SDS), (QID),
(DIA), and (DOG)
www.TradeStalker.com
PO Box 9783, Ft Wayne, IN, 46899
Disclaimer
The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.
We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************
Today's Trading Recap: 08/18/09
HOW OUR DAY WENT: Their was no nightly update last
night, but we caught a couple of trades via instant
message and the intraday updates also helped, like
the last pullback reversing from 1 tick the over the
986.00 support then bounced 3.50 points into the 4:15
settlement.
Good Trading,
Mike Reed
TradeStalker.com
night, but we caught a couple of trades via instant
message and the intraday updates also helped, like
the last pullback reversing from 1 tick the over the
986.00 support then bounced 3.50 points into the 4:15
settlement.
Good Trading,
Mike Reed
TradeStalker.com
Today's Trading Recap: 08/17/09
HOW OUR DAY WENT: The toppy action last week was
confirmed with the ES opening 21.50 points lower on
Monday. With that much damage done, and the trading
range broken, the bounces were shorting opportunities
all day.
Good Trading,
Mike Reed
TradeStalker.com
confirmed with the ES opening 21.50 points lower on
Monday. With that much damage done, and the trading
range broken, the bounces were shorting opportunities
all day.
Good Trading,
Mike Reed
TradeStalker.com
Monday, August 17, 2009
TradeStalker's RBI Update 08/16/09
.................................................
TradeStalker's
R.B.I. Trader's Update
8 / 16 / 2009
(Published Since 1996)
...............................................
Dateline: 5:26 pm eastern time, 8/16/2009
The market opened weak on Friday and then sold off pretty
hard in the first hour. The ES dropped 21.75 points from
Thursday's 1014.00 high down to 992.25 shortly before noon,
and then the action slowed to a crawl. The ES traded
sideways between the 993.50 level on bottom and 996.75-
997.50 zone on the top going into the last 30 minutes of
trading. In the last intraday update I stated:
"That 996.75-997.50 zone must be blown through,
and then hold on a dip, to get anything going on
the upside."
At 3:46 pm the ES broke thru and reached 1000.50. A dip to
998.00 occurred at 3:51 pm, then the ES rallied 9.00 points
to 1007.00 at 4:12 pm, a nice setup to end the week.
The market is still range bound, and on Thursday the ES was
2 points from the top and then on Friday the ES fell to just
2 points above the bottom of the range. For the time being,
and with the market being so resilient, the market will be a
buy near the bottom side and a short near the top side until
there is a breakout that sticks.
On Monday look for early strength to set up a shorting
opportunity. If that plays out, then the first decent
pullback should be bought, especially if the initial support
is held. If it is not held, then the market could fall back
inside the Friday afternoon range and see if that is just
backing up to get a good rally going. If there is early
strength that reaches the 1011.50 area on the ES and/or
1623.50 on the NQ, and the move reverses, that would set up
a good short.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
1006.50-1007.00
1011.50
1015.50-1016.00
1020.00-1020.50
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
1001.50
998.00-997.50
994.00-993.50
990.00-989.50
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1617.75-1618.75
1623.50
1631.50-1633.50
1637.00-1637.75
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1608.75
1603.75-1603.00
1600.50-1599.75
1595.00-1594.50
September 2009 Dow futures resistance
symbols: emini = ymu9
9328-9331
9365
9398-9404
9444-9449
September 2009 Dow futures support
symbols: emini = ymu9
9281
9255-9250
9216-9212
9184-9180
CLICK HERE to watch a short video on how to best use our service in your own trading.
Good Trading,
Mike Reed
Copyright (c) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
This publication's primary focus is trading the index
futures. However, you can also use my nightly updates to
trade the following ETF's (SPY), (QQQQ), (SDS), (QID),
(DIA), and (DOG)
www.TradeStalker.com
PO Box 9783, Ft Wayne, IN, 46899
Disclaimer
The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.
We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************
TradeStalker's
R.B.I. Trader's Update
8 / 16 / 2009
(Published Since 1996)
...............................................
Dateline: 5:26 pm eastern time, 8/16/2009
The market opened weak on Friday and then sold off pretty
hard in the first hour. The ES dropped 21.75 points from
Thursday's 1014.00 high down to 992.25 shortly before noon,
and then the action slowed to a crawl. The ES traded
sideways between the 993.50 level on bottom and 996.75-
997.50 zone on the top going into the last 30 minutes of
trading. In the last intraday update I stated:
"That 996.75-997.50 zone must be blown through,
and then hold on a dip, to get anything going on
the upside."
At 3:46 pm the ES broke thru and reached 1000.50. A dip to
998.00 occurred at 3:51 pm, then the ES rallied 9.00 points
to 1007.00 at 4:12 pm, a nice setup to end the week.
The market is still range bound, and on Thursday the ES was
2 points from the top and then on Friday the ES fell to just
2 points above the bottom of the range. For the time being,
and with the market being so resilient, the market will be a
buy near the bottom side and a short near the top side until
there is a breakout that sticks.
On Monday look for early strength to set up a shorting
opportunity. If that plays out, then the first decent
pullback should be bought, especially if the initial support
is held. If it is not held, then the market could fall back
inside the Friday afternoon range and see if that is just
backing up to get a good rally going. If there is early
strength that reaches the 1011.50 area on the ES and/or
1623.50 on the NQ, and the move reverses, that would set up
a good short.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
1006.50-1007.00
1011.50
1015.50-1016.00
1020.00-1020.50
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
1001.50
998.00-997.50
994.00-993.50
990.00-989.50
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1617.75-1618.75
1623.50
1631.50-1633.50
1637.00-1637.75
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1608.75
1603.75-1603.00
1600.50-1599.75
1595.00-1594.50
September 2009 Dow futures resistance
symbols: emini = ymu9
9328-9331
9365
9398-9404
9444-9449
September 2009 Dow futures support
symbols: emini = ymu9
9281
9255-9250
9216-9212
9184-9180
CLICK HERE to watch a short video on how to best use our service in your own trading.
Good Trading,
Mike Reed
Copyright (c) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
This publication's primary focus is trading the index
futures. However, you can also use my nightly updates to
trade the following ETF's (SPY), (QQQQ), (SDS), (QID),
(DIA), and (DOG)
www.TradeStalker.com
PO Box 9783, Ft Wayne, IN, 46899
Disclaimer
The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.
We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************
TradeStalker's RBI Update 08/13/09
.................................................
TradeStalker's
R.B.I. Trader's Update
8 / 13 / 2009
(Published Since 1996)
...............................................
Dateline: 6:21 pm eastern time, 8/13/2009
The market popped up on Thursday morning but the move was
sold and the ES dropped from 1008.25 to 998.00 in short
order. A reversal from that level started a run-up to the
1011.75-1012.50 resistance zone. From a 1012.00 high, the ES
reversed and spilled to 1002.50 and reversed once again. The
rally started around 2 pm and from that level the ES rallied
to 1009.75 before pulling back. The dip held the 1008.00
level on the ES and it turned back up and rallied to 1014.00
just before settlement.
The amazingly resilient market has rallied back to the top
of the recent range on the SP500 cash and futures. Both the
ES and NQ closed well over fair value, so about 4 points on
the SP500 cash and 10 points on the Nasdaq 100 cash is
factored in on the upside to start Friday. We get the CPI,
Capacity Utilization and Industrial Production data before
the open on Friday and it should be a market mover.
With selling coming in at/near new high territory, and
buying coming in on the sharp pullbacks that reverse, the
intraday volatility is picking up and this should continue.
Look to be a buyer on a drop back towards the 1000 level on
the ES if/when there is a reversal pattern, and sell the
rallies after they have run for awhile and then stall out.
No damage is done unless the initial support areas are
broken, and then act as resistance on a bounce. That would
cause a transition back to the downside, and likely bring a
test of the Thursday afternoon lows. If the market gets back
down there and cannot snap back, then the weekly chart will
look poor and it could be the start of a move back to the
bottom of the range at the 990 area.
To start the day, look for early strength to set up a
shorting opportunity. If that plays out, and there is a drop
towards the 1008.75-1008.25 area and it holds/reverses, then
it will set up a trade on the long side. If that area isn't
held, a drop to the 1002.50-1001.50 area would need to hold
to avoid trouble. Should the ES get through the 1015.50-
1016.00 area and not quickly reverse, then a push towards
the 1020.00-1020.50 area is likely. Beware that if that area
is reached and rejected, it would set up a shorting
opportunity.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
1014.00
1015.50-1016.00
1020.00-1020.50
1023.50-1024.50
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
1008.75-1008.25
1005.00-1004.50
1002.50-1001.50
998.50-997.50
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1633.50
1637.00-1637.75
1641.75-1642.50
1647.00-1647.75
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1624.50-1623.50
1620.25-1619.50
1616.00-1615.25
1610.50-1610.00
September 2009 Dow futures resistance
symbols: emini = ymu9
9393
9404-9408
9444-9449
9473-9477
September 2009 Dow futures support
symbols: emini = ymu9
9346-9341
9324-9321
9304-9299
9286-9282
---------------------------
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
---------------------------
Good Trading,
Mike Reed
Copyright (c) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
www.TradeStalker.com
PO Box 9783, Ft Wayne, IN, 46899
Disclaimer
The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.
We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************
TradeStalker's
R.B.I. Trader's Update
8 / 13 / 2009
(Published Since 1996)
...............................................
Dateline: 6:21 pm eastern time, 8/13/2009
The market popped up on Thursday morning but the move was
sold and the ES dropped from 1008.25 to 998.00 in short
order. A reversal from that level started a run-up to the
1011.75-1012.50 resistance zone. From a 1012.00 high, the ES
reversed and spilled to 1002.50 and reversed once again. The
rally started around 2 pm and from that level the ES rallied
to 1009.75 before pulling back. The dip held the 1008.00
level on the ES and it turned back up and rallied to 1014.00
just before settlement.
The amazingly resilient market has rallied back to the top
of the recent range on the SP500 cash and futures. Both the
ES and NQ closed well over fair value, so about 4 points on
the SP500 cash and 10 points on the Nasdaq 100 cash is
factored in on the upside to start Friday. We get the CPI,
Capacity Utilization and Industrial Production data before
the open on Friday and it should be a market mover.
With selling coming in at/near new high territory, and
buying coming in on the sharp pullbacks that reverse, the
intraday volatility is picking up and this should continue.
Look to be a buyer on a drop back towards the 1000 level on
the ES if/when there is a reversal pattern, and sell the
rallies after they have run for awhile and then stall out.
No damage is done unless the initial support areas are
broken, and then act as resistance on a bounce. That would
cause a transition back to the downside, and likely bring a
test of the Thursday afternoon lows. If the market gets back
down there and cannot snap back, then the weekly chart will
look poor and it could be the start of a move back to the
bottom of the range at the 990 area.
To start the day, look for early strength to set up a
shorting opportunity. If that plays out, and there is a drop
towards the 1008.75-1008.25 area and it holds/reverses, then
it will set up a trade on the long side. If that area isn't
held, a drop to the 1002.50-1001.50 area would need to hold
to avoid trouble. Should the ES get through the 1015.50-
1016.00 area and not quickly reverse, then a push towards
the 1020.00-1020.50 area is likely. Beware that if that area
is reached and rejected, it would set up a shorting
opportunity.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
1014.00
1015.50-1016.00
1020.00-1020.50
1023.50-1024.50
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
1008.75-1008.25
1005.00-1004.50
1002.50-1001.50
998.50-997.50
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1633.50
1637.00-1637.75
1641.75-1642.50
1647.00-1647.75
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1624.50-1623.50
1620.25-1619.50
1616.00-1615.25
1610.50-1610.00
September 2009 Dow futures resistance
symbols: emini = ymu9
9393
9404-9408
9444-9449
9473-9477
September 2009 Dow futures support
symbols: emini = ymu9
9346-9341
9324-9321
9304-9299
9286-9282
---------------------------
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: 08/13/09
HOW OUR DAY WENT: The ES reversed from 1008.00-1008.50
resistance on the open, and dropped 10 points to 998.00.
The rally reversed at 1012.00, right at 1011.75-1012.50
resistance zone. The drop broke the 1006.50 support and
then I sent an Instant Message telling members:
Aug 13-14:11) mike: stay with shorts to 1003.50, or lower.
The ES reversed from 1002.50, then bounced to 1007.75
before stalling out. Just 1 tick under resistance, the
ES dropped to 1005.00 and members were told that the ES
had support at 1004.50 then turned back up. Then the 1008
level was exceeded, and held on a pullback setting up a
long for the rally into the close. So, we caught some of
both sides in a back-and-forth day.
Good Trading,
Mike Reed
TradeStalker.com
resistance on the open, and dropped 10 points to 998.00.
The rally reversed at 1012.00, right at 1011.75-1012.50
resistance zone. The drop broke the 1006.50 support and
then I sent an Instant Message telling members:
Aug 13-14:11) mike: stay with shorts to 1003.50, or lower.
The ES reversed from 1002.50, then bounced to 1007.75
before stalling out. Just 1 tick under resistance, the
ES dropped to 1005.00 and members were told that the ES
had support at 1004.50 then turned back up. Then the 1008
level was exceeded, and held on a pullback setting up a
long for the rally into the close. So, we caught some of
both sides in a back-and-forth day.
Good Trading,
Mike Reed
TradeStalker.com
Thursday, August 13, 2009
TradeStalker's RBI Update 08/12/09
.................................................
TradeStalker's
R.B.I. Trader's Update
8 / 12 / 2009
(Published Since 1996)
...............................................
Dateline: 6:22 pm eastern time, 8/12/2009
The ES opened lower on Wednesday and then turned up from
just over the 990.25-990.00 initial support. That set up an
early trade on the long side, and it was a stronger move
than anticipated. Then the ES trended higher into the Fed
release, and after stalling and reversing from 1 tick under
the 1008.00-1008.50 zone (1007.75 high) the ES dropped to
1000.50 before reversing. The next move was about straight
up, going right through the 1007.75 high on the way to the
1011.75-1012.50 resistance area. The ES made it to 1011.25
and the fell to 1008.00, then a bounce to 1011.25 reversed
and the market sold off pretty fast into the close.
The ES continues to be range bound between 1016 on top and
990 on the bottom side. The trip to the upper end of the
range at the 1011.25 level was sold aggressively. However,
there must be a lot of shorts trapped below as the selling
has been absorbed and reversed sharply on a number of
occasions lately. A turn lower from up here would make a 123
type top on the daily chart. the market would then be
vulnerable and there could be a 5-7% drop from up here.
On Thursday the market will be "ok" as long as the ES and
the other futures contracts stay over their initial support
areas. It will be a surprise if the market can pull that
off. on the other side of the coin, with moves not able to
hold, look for shorting opportunities as soon as an upside
run fizzles out. The better reward/risk trade should be on
the short side under the Wednesday highs. If the market gets
hit with a selloff from up here, and finishes the week down
near 990 on the ES, it could be the beginning of a bigger
drop towards the 958-954 area at a minimum.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
1011.75-1012.50
1015.50-1016.00
1020.00-1020.50
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
1001.00-1000.50
995.50-995.00
990.25-990.00
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1627.00-1627.75
1633.00-1633.75
1637.00-1637.75
1641.75-1642.50
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1613.75-1613.25
1607.50-1607.00
1593.75-1592.75
September 2009 Dow futures resistance
symbols: emini = ymu9
9369-9372
9400-9404
9435-9439
9494-9499
September 2009 Dow futures support
symbols: emini = ymu9
9306-9300
9286-9282
9216-9212
CLICK HERE to watch a short video on how to best use our service in your own trading.
Good Trading,
Mike Reed
Copyright (c) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
This publication's primary focus is trading the index
futures. However, you can also use my nightly updates to
trade the following ETF's (SPY), (QQQQ), (SDS), (QID),
(DIA), and (DOG)
www.TradeStalker.com
PO Box 9783, Ft Wayne, IN, 46899
Disclaimer
The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.
We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************
TradeStalker's
R.B.I. Trader's Update
8 / 12 / 2009
(Published Since 1996)
...............................................
Dateline: 6:22 pm eastern time, 8/12/2009
The ES opened lower on Wednesday and then turned up from
just over the 990.25-990.00 initial support. That set up an
early trade on the long side, and it was a stronger move
than anticipated. Then the ES trended higher into the Fed
release, and after stalling and reversing from 1 tick under
the 1008.00-1008.50 zone (1007.75 high) the ES dropped to
1000.50 before reversing. The next move was about straight
up, going right through the 1007.75 high on the way to the
1011.75-1012.50 resistance area. The ES made it to 1011.25
and the fell to 1008.00, then a bounce to 1011.25 reversed
and the market sold off pretty fast into the close.
The ES continues to be range bound between 1016 on top and
990 on the bottom side. The trip to the upper end of the
range at the 1011.25 level was sold aggressively. However,
there must be a lot of shorts trapped below as the selling
has been absorbed and reversed sharply on a number of
occasions lately. A turn lower from up here would make a 123
type top on the daily chart. the market would then be
vulnerable and there could be a 5-7% drop from up here.
On Thursday the market will be "ok" as long as the ES and
the other futures contracts stay over their initial support
areas. It will be a surprise if the market can pull that
off. on the other side of the coin, with moves not able to
hold, look for shorting opportunities as soon as an upside
run fizzles out. The better reward/risk trade should be on
the short side under the Wednesday highs. If the market gets
hit with a selloff from up here, and finishes the week down
near 990 on the ES, it could be the beginning of a bigger
drop towards the 958-954 area at a minimum.
September 2009 SP futures resistance
symbols: emini = esu9 / big contract =spu9
1011.75-1012.50
1015.50-1016.00
1020.00-1020.50
September 2009 SP futures support
symbols: emini = esu9 / big contract =spu9
1001.00-1000.50
995.50-995.00
990.25-990.00
September 2009 Nasdaq futures resistance
symbols: emini = nqu9 / big contract = ndu9
1627.00-1627.75
1633.00-1633.75
1637.00-1637.75
1641.75-1642.50
September 2009 Nasdaq futures support
symbols: emini = nqu9 / big contract = ndu9
1613.75-1613.25
1607.50-1607.00
1593.75-1592.75
September 2009 Dow futures resistance
symbols: emini = ymu9
9369-9372
9400-9404
9435-9439
9494-9499
September 2009 Dow futures support
symbols: emini = ymu9
9306-9300
9286-9282
9216-9212
CLICK HERE to watch a short video on how to best use our service in your own trading.
Good Trading,
Mike Reed
Copyright (c) 2009 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
This publication's primary focus is trading the index
futures. However, you can also use my nightly updates to
trade the following ETF's (SPY), (QQQQ), (SDS), (QID),
(DIA), and (DOG)
www.TradeStalker.com
PO Box 9783, Ft Wayne, IN, 46899
Disclaimer
The financial markets are risky. Investing is risky.
Past performance does not guarantee future performance.
The foregoing has been prepared solely for informational
purposes and is not a solicitation, or an offer to buy
or sell any security. Opinions are based on historical
research and data believed reliable, but there is no
guarantee that future results will be profitable.
We are not advocating trading futures. The prices and
contracts in the TradeStalker Updates specify a manner
in which you could trade. We occasionally mention the
SP500 and Nasdaq futures markets because it is
extremely liquid and tends to lead the other markets.
This is not an endorsement or recommendation of the SP500
and Nasdaq futures markets. The risk of loss in futures
is substantial. You can lose more than your original
investment. We are not Registered Investment Advisors or
Commodity Trading Advisors.
*************************************************
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