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.................................................
TradeStalker's
R.B.I. Trader's Update
4 /15 / 2008
(Published Since 1996)
...............................................
Dateline: 6:18 pm eastern time, 4/15/2008
The market gapped up on Tuesday and the market instantly
reversed and sold off in trend down mode into the 1325.00
low on the SP futures. The market turned up, and stair-
stepped its way higher into the late afternoon. There were
reactions along the way, but the 1335.00 updated resistance
was a lid and the market dropped pretty fast off of the
afternoon highs. The SP futures fell to 1329.50 with about
an hour left in stock trading, and a fairly slow day turned
volatile. The market bounced back to make slightly higher
highs, and then reversed 4.25 points on the SP futures to
the downside. Then, with 10 minutes left in stock trading,
the SP futures popped to 1337.75 before pulling back in to
the close.
The market is higher after-hours on Intel earnings. Also, on
Wednesday we get the CPI before the open, and then the Fed's
Beige Book at 2pm. The futures had outside days on Tuesday
and closed on the upside. The rallies were not sticking, but
now the pullbacks aren't sticking. The CPI number was a
market mover last month, and probably will be again on
Wednesday.
If the market stays strong overnight and the CPI doesn't
knock it down, then look for a shorting opportunity if the
upside reverses in the first 20-40 minutes of trading.
Thereafter, the first decent pullback should set up a buying
opportunity, especially if the initial support areas hold.
In the afternoon, after the Beige Book release, the market
could act like a regular Fed rate decision day. If that's
the case, we should get a quick back and forth move, and
then the market should find a direction and go into a
trending type of move into the last 30 minutes or so.
The initial resistance is at the 1341.00-1341.50 area on the
SP futures and 1818.50-1819.50 area on the Nasdaq futures.
The next resistance should be around the 1344.75-1345.00
area on the SP futures and 1824.25-1825.25 area on the
Nasdaq futures. If there is going to be an early reversal,
watch those areas for a potential turn around. However, if
those are exceeded and the market doesn't quickly reverse,
then we could test the 1351.50-1352.00 area on the SP
futures and 1833.50-1834.75 area on the Nasdaq futures. If
the market gets up there, and it's not turned back, then we
could see a mini melt-up take the market up towards the
1357.00-1358.00 area on the SP futures and 1839.50-1841.00
area on the Nasdaq futures.
If the overnight strength holds, then the first decent
support would be around the 1339.00-1338.50 area on the SP
futures and 1808.50-1807.50 area on the Nasdaq futures. If
buyers don't step to the plate around those areas, then the
market will be back inside of the Tuesday ranges. The next
key support would be down at the 1329.50-1229.25 area on the
SP futures and 1793.00-1792.00 area on the Nasdaq futures.
If those are tested, the market should hold, otherwise the
market will test or break the support at the 1324.00-1323.50
area on the SP futures and 1782.00-1781.50 area on the
Nasdaq futures.
June 2008 SP futures resistance
symbols: emini = esm8 / big contract =spm8
1341.00-1341.50
1344.75-1345.00
1351.50-1352.00
1357.00-1358.00
June 2008 SP futures support
symbols: emini = esm8 / big contract =spm8
1339.00-1338.50
1329.50-1229.25
1324.00-1323.50
June 2008 Nasdaq futures resistance
symbols: emini = nqm8 / big contract = ndm8
1818.50-1819.50
1824.25-1825.25
1833.50-1834.75
1839.50-1841.00
June 2008 Nasdaq futures support
symbols: emini = nqm8 / big contract = ndm8
1808.50-1807.50
1794.00-1792.50
1782.00-1781.50
June 2008 Dow futures resistance
symbols: emini = ymm8
13391-13395
12414-12419
12462-12468
12512-12518
June 2008 Dow futures support
symbols: emini = ymm8
12383-12379
12308-12304
12269-12263
June 2008 Russell futures resistance
symbols: emini = er2m8 / big contract = er2m8
696.70-697.20
700.50-701.20
704.80-705.20
708.50-708.80
June 2008 Russell futures support
symbols: emini = er2m8 / big contract = er2m8
693.20-692.70
686.30-685.90
684.30-683.60
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
Good Trading,
Mike Reed
Copyright (c) 2008 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
.................................................
TradeStalker's
R.B.I. Trader's Update
04 / 16 / 2008
Intraday Update
...............................................
Dateline: 10:12 eastern time, es8m= 1348 nq8m= 1822
The 1351.50-1352.00 area on the ES and 1824.25-1825.25
area on the NQ turned the market back. The market is
vulnerable under those highs. The 1345.00-1344.75 area
is minor support.
Good trading,
Mike
.................................................
TradeStalker's
R.B.I. Trader's Update
04 / 16 / 2008
Intraday Update # 2
...............................................
Dateline: 10:29 eastern time, es8m= 1353.5 nq8m= 1836
The resistance was blown through. The market should
be ok as long as the 1350 level is not broken. If
this move continues into 11:30-12noon eastern, it
should set up a trade on the short side.
Good trading,
Mike
.................................................
TradeStalker's
R.B.I. Trader's Update
04 / 16 / 2008
Intraday Update # 3
...............................................
Dateline: 10:58 eastern time, es8m= 1356 nq8m= 1838
The ES rejected the test of 1357.00 the first time
and pulled back to 1353.00. This retest needs a tight
stop just over the high. That 1353 level needs to hold
to keep the trend-up action intact. The next good
resistance is at the 1361.50-1362.25 zone on the ES.
Good trading,
Mike
.................................................
TradeStalker's
R.B.I. Trader's Update
04 / 16 / 2008
Intraday Update # 4
...............................................
Dateline: 11:24 eastern time, es8m= 1355 nq8m= 1839.5
Well, I was cautious and the ES poked to 1357.75 and
reversed. That looks like a top, and a break and hold
under 1353.00 would turn the trends.
Good trading,
Mike
.................................................
TradeStalker's
R.B.I. Trader's Update
04 / 16 / 2008
Intraday Update # 5
...............................................
Dateline: 12:21 eastern time, es8m= 1357 nq8m= 1847
The ES tested the 1353 level and held, and we are back
to the highs. The we could see 1361.50-1362.50 if this
doesn't fail. The NQ bears watching as it has great momentum
and must keep it.
Good trading,
Mike
.................................................
TradeStalker's
R.B.I. Trader's Update
04 / 16 / 2008
Intraday Update # 6
...............................................
Dateline: 1:12 eastern time, es8m= 1356 nq8m= 1843
The 1359 level is turning in to a lid and the NQ has
lost some steam, which isn't good at the moment. Let's
not forget we get the Fed's Beige book at 2pm. If there
is a reversal, that will be the excuse. A break of 1353
that isn't quickly reversed would be needed to turn the
trends back down.
Good trading,
Mike
.................................................
TradeStalker's
R.B.I. Trader's Update
4/14/2008
(Published Since 1996)
...............................................
Dateline: 6:46 pm eastern time, 4/14/2008
The market opened lower on Monday and after about 30 minutes
of trading there was a pop and a reversal. In very choppy
action, the SP futures reached the 1328.00-1327.75 support
zone and turned up. From a 1327.50 low on the SP futures, a
decent rally followed as they reached 1337.75 before making
a little double top and reversing again. The selloff took
the market back to test the morning lows in the last 30
minutes, and after reaching 1327.25 on the SP futures the
market bounced a bit into the close.
We still have a couple of "seats" left at my upcoming RBI
Trading Camp. It could be another year or more before there
is another one. If you want to learn my routine from A to Z,
here's the link to sign up:
http://www.tradestalker.com/RBI-Trading-Camp.htm
The Monday ranges were very small, just 10 points on the SP
futures. We get the PPI before the open, and it should be
the news that gives us a range expansion. The volatility
should pick up, as should the size of the ranges. The market
is under pressure unless/ until the initial resistance
levels are exceeded. If they are exceeded, then it would
open the door for some two-sided action, and possibly a
decent rally.
The market needs to prove that it can hold on to gains, by
not giving much back on a dip before heading higher again.
That kind of action is necessary to get the market into
bullish mode. So far we haven't had that for 5 days. It has
mostly been the opposite. So shorting the bounces that
stall/reverse should set up the better odds trades unless
the initial resistance levels are broken and then can hold
on a pullback. If that does happen, then we could reverse
the market mood short term and put together a decent move
on the upside.
The initial resistance is at the 1333.25 level on the SP
futures and 1806.50 level on the Nasdaq futures. If the
market doesn't have trouble getting through those levels,
then the trends could be turning back to the upside and the
Monday highs at 1337.25 on the SP futures and 1814.00 on the
Nasdaq futures would be key resistance. A move over those
levels that is not quickly reversed should open the door for
a move towards the next resistance at the 1341.00-1341.50
area on the SP futures and 1818.50-1819.00 area on the
Nasdaq futures. If those are not a problem, then the
1344.75-1345.00 and 1824.25-1825.25 zones would be next.
The big hurdles short term are up at the 1351.50-1352.00
area
on the SP futures and 1833.50-1834.75 area on the Nasdaq
futures.
The initial support is at the 1327.75-1227.25 area on the SP
futures and 1794.00-1792.50 area on the Nasdaq futures. If
those are broken, then look for a potential reversal from
the 1324.00-1323.50 area on the SP futures and 1788.00-
1786.50 area on the Nasdaq futures. Those support zones need
to be defended, or else we will likely head for the 1318.50-
1318.00 area on the SP futures and 1778.50-1777.50 area on
the Nasdaq futures. If those areas don't hold, then only the
1313.50-1312.50 area on the SP futures is in the way of a
potential collapse towards the 1286-1285 zone on the SP
futures.
June 2008 SP futures resistance
symbols: emini = esm8 / big contract =spm8
1333.25
1337.25
1341.00-1341.50
1344.75-1345.00
1351.50-1352.00
June 2008 SP futures support
symbols: emini = esm8 / big contract =spm8
1327.75-1227.25
1324.00-1323.50
1318.50-1318.00
June 2008 Nasdaq futures resistance
symbols: emini = nqm8 / big contract = ndm8
1806.50
1814.00
1818.50-1819.00
1824.25-1825.25
1833.50-1834.75
June 2008 Nasdaq futures support
symbols: emini = nqm8 / big contract = ndm8
1794.00-1792.50
1788.00-1786.50
1778.50-1777.50
June 2008 Dow futures resistance
symbols: emini = ymm8
12334
12363
13391-13395
12414-12419
12462-12468
June 2008 Dow futures support
symbols: emini = ymm8
12276-12272
12231-12226
12197-12193
June 2008 Russell futures resistance
symbols: emini = er2m8 / big contract = er2m8
690.70
694.20
697.00-697.50
700.50-701.20
704.80-705.20
June 2008 Russell futures support
symbols: emini = er2m8 / big contract = er2m8
684.30-683.60
681.10-680.60
675.00-674.60
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
Good Trading,
Mike Reed
Copyright (c) 2008 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
.................................................
TradeStalker's
R.B.I. Trader's Update
04 / 15 / 2008
Intraday Update
...............................................
Dateline: 10:32 eastern time, es8m= 1331 nq8m= 1795
The market has been trend-down off the gap up open,
and it could be a trend day. The 1335.00-1335.50
zone shouldn't be exceeded or the trend day goes
away. A weak bounce should fail under 1333.00 on
the ES.
Good trading,
Mike
NOTE- The ES reached 1333.00, then fell 7.50 points
before the first reversal attempt. One brand new member
sent a nice note about nailing this trade, and telling us
he was happy he finally joined. Pull the trigger now by
going here-
http://www.tradestalker.com/order-page.htm
(or call us at 260-750-2447)
--
.................................................
TradeStalker's
R.B.I. Trader's Update
04 / 15 / 2008
Intraday Update # 2
...............................................
Dateline: 12:48 eastern time, es8m= 1328.5 nq8m= 1788
The ES held a point over the 1324.00-1323.50 zone
and bounced to the break-down area at 1329.50-1330.00.
Unless that is cleared, the trend down day is still
possible with the lows coming in the last hour. If
it is cleared, then we could head back toward 1334.50-
1335.00.
Good trading,
Mike
.................................................
TradeStalker's
R.B.I. Trader's Update
04 / 15 / 2008
Intraday Update # 3
...............................................
Dateline: 1:26 eastern time, es8m= 1331 nq8m= 1794
The ES was turned back several times from the 1329.50-
1330.00 zone, but held 1328.00 on the dips. If the ES
doesn't reverse from 1332.00, then we could still
see the 1335 level tested. That 1329.75 level needs
to hold on a pullback, or the downtrends would reassert
themselves.
Good trading,
Mike
.................................................
TradeStalker's
R.B.I. Trader's Update
04 / 15 / 2008
Intraday Update # 4
...............................................
Dateline: 2:03 eastern time, es8m= 1333 nq8m= 1796
The 1335 level was tested, and the market could reverse.
If it doesn't, then the 1338.00-1338.50 zone would be
next. A pullback should hold 1331.75 level break, then
this could be a little top.
Good trading,
Mike
.................................................
TradeStalker's
R.B.I. Trader's Update
4/13/2008
(Published Since 1996)
...............................................
Dateline: 5:16 pm eastern time, 4/13/2008
Last week started on a good note, as the SP futures rallied
to the 1387.50-1388.00 zone (reaching 1389.00) on Monday
morning. However, that turned out to be a top and the SP
futures settled 18 points under its high on Monday. The
selling continued into Wednesday, where the SP futures made
a stand at the 1351.50 level and put together a decent rally
into Thursday afternoon. However, the upside fizzled just
under the new 1370.50 resistance on the SP futures, and sold
off late Thursday. The market gapped down on Friday's open,
and after a bounce back to the 1351.50 area, I sent an
update at 11:51 a.m. saying that the bounce should fizzle by
noon. That it did, and the break started a trend down day
with the lows made at 1331.75 on the SP futures and 1799.00
on the Nasdaq futures in the last 15 minutes of stock
trading. The end result was a loss of 284 points on the Dow
for the week, while the SP500 cash lost 37.57 points and
Nasdaq 100 lost 67.15 points.
The trends and momentum are both pointing down, and some
technical damage was done last week. The SP futures lost
just over 57 points from Monday's high to Friday's low. It
will take a surprise outside influence to get the market out
of its bad mood. The market finally succumbed to some bad
news on Friday, after handling it pretty well the prior
week. At the moment, the initial resistance areas should be
pivotal on Monday. A failure to get there, or get up there
and reverse, keeps the downside intact. However, if there is
something that sparks a move over the initial resistance
areas, and they can hold on a pullback, then the trends will
be turning around again. Unless or until that happens, the
short side on bounces still offer the better odds trade, as
it is with the trend and momentum.
The initial resistance is at the 1341.00-1341.50 area on the
SP futures and 1818.50-1819.00 area on the Nasdaq futures.
Those areas should be key, especially early. If the market
gets there and fizzles, it should set up a shorting
opportunity with a fairly tight stop. However, if those are
broken, then the trends could be changing. The next
resistance is minor, at the 1344.75-1345.00 area on the SP
futures and 1824.25-1825.25 area on the Nasdaq futures. The
next key hurdles on Monday would be at the 1351.50-1352.00
area on the SP futures and 1833.50-1834.75 area on the
Nasdaq futures. If the market rallies grudgingly to those
areas, beware of a reversal. However, if the market can push
through those with some gusto, then we could see the
1358.75-1359.75 area on the SP futures and/or 1851.00-
1852.75 area on the Nasdaq futures.
The initial support is at the 1331.75-1331.00 area on the SP
futures 1799.00-1798.00 area on the Nasdaq futures. If those
are broken, then beware of a potential reversal from the
1328.00-1327.75 area on the SP futures and 1793.25-1792.50
area on the Nasdaq futures. If that doesn't appear, then we
will head for the 1324.00-1323.50 area on the SP futures and
1786.50-1785.50 area on the Nasdaq futures. If the market is
going to have a decent snap-back rally, then those areas
shouldn't be broken by much, or quickly reversed if they are
broken. If that doesn't happen, then the last good support
in the way of testing the March 31st lows is at the 1318.50-
1318.00 area on the SP futures and 1778.50-1777.50 area on
the Nasdaq futures.
June 2008 SP futures resistance
symbols: emini = esm8 / big contract =spm8
1341.00-1341.50
1344.75-1345.00
1351.50-1352.00
1358.75-1359.75
June 2008 SP futures support
symbols: emini = esm8 / big contract =spm8
1331.75-1331.00
1328.00-1327.75
1324.00-1323.50
1318.50-1318.00
June 2008 Nasdaq futures resistance
symbols: emini = nqm8 / big contract = ndm8
1818.50-1819.00
1824.25-1825.25
1833.50-1834.75
1851.00-1852.75
June 2008 Nasdaq futures support
symbols: emini = nqm8 / big contract = ndm8
1799.00-1798.00
1793.25-1792.50
1788.00-1786.50
1778.50-1777.50
June 2008 Dow futures resistance
symbols: emini = ymm8
12374-12378
12414-12419
12462-12468
12549-12554
June 2008 Dow futures support
symbols: emini = ymm8
12296-12294
12268-12263
12231-12226
12197-12193
June 2008 Russell futures resistance
symbols: emini = er2m8 / big contract = er2m8
691.50-692.00
696.20-696.50
699.20-699.60
703.50-703.80
June 2008 Russell futures support
symbols: emini = er2m8 / big contract = er2m8
685.50-685.00
682.80-682.40
679.90-679.50
675.00-674.60
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
Good Trading,
Mike Reed
Copyright (c) 2008 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without
permission.
.................................................
TradeStalker's
R.B.I. Trader's Update
04 / 14 / 2008
Intraday Update
...............................................
Dateline: 10:54 eastern time, es8m= 1332 nq8m= 1803
The market is trying to hold together, but the
1335.50-1336.00 zone needs to be cleared, and
held, to have a minor low in place. The 12300
level on the Dow cash looks like key support.
If that is broken, then we should head for the
1324.00-1323.50 area on the ES.
Good trading,
Mike
.................................................
TradeStalker's
R.B.I. Trader's Update
04 / 14 / 2008
Intraday Update # 2
...............................................
Dateline: 11:51 eastern time, es8m= 1330.5 nq8m= 1800
Well, the Dow broke 12300 but the 1328.00-1327.75
support zone on the ES held. If there's a bounce
that stalls/reverses from around 1332.25-1333.00
zone it's a short. To avoid trouble, the 1335.50-
1336.00 zone must be broken.
Good trading,
Mike
.................................................
TradeStalker's
R.B.I. Trader's Update
04 / 14 / 2008
Intraday Update # 3
...............................................
Dateline: 1:05 eastern time, es8m= 1335.5 nq8m= 1809
The ES punched through resistance. The intraday
trends are up, but a break back under the 1333.00
level turns the trends back down. The ES should
hold 1334.50 or it's a heads up that 1333.00
might also be broken.
Good trading,
Mike
.................................................
TradeStalker's
R.B.I. Trader's Update
04 / 14 / 2008
Intraday Update # 4
...............................................
Dateline: 1:48 eastern time, es8m= 1332 nq8m= 1804
Short bounces from here to 1335.60. The trends
turned back down, and the market is acting top
heavy up there. The 1331.75 level should be tested
and if broken, then a test/break of the lows
if possible.
Good trading,
Mike
.................................................
TradeStalker's
R.B.I. Trader's Update
04 / 14 / 2008
Intraday Update # 5
...............................................
Dateline: 3:01 eastern time, es8m= 1329.5 nq8m= 1799
The bounce back to 1333 failed, and the market
is not too far from lows made this morning. If
the 1327.50 low is broken then we should see the
1324.00-1323.50 area before a decent reversal.
Good trading,
Mike
.................................................
TradeStalker's
R.B.I. Trader's Update
4/10/2008
(Published Since 1996)
...............................................
Dateline: 6:48 pm eastern time, 4/10/2008
The market opened lower on Thursday and popped up, but then
quickly reversed to the downside. The selling took the SP
futures right to 1351.25 where there was key support and the
market turned back up. It was a pretty steady move on up to
1369.25 before the move finally pulled back. After another
bounce, the SP futures broke the 1364 level but the market
turned right back up and tested the highs. That test was
rejected and the market sold off to test the 1360.50-1360.00
updated support. Buying came in after the SP futures reached
1360.75 and the market bounced to 1367.50 before reversing,
again. The market fell 10 points off of that level to
1357.50 in the last hour and then snapped back into the
close.
The market keeps getting knocked down, but then also
recovers nicely. It looks like we will have more two-sided
trading action on Friday. The first test of the market's
strength, or lack thereof, will be how it handles the
initial resistance areas. If those are cleared, and the
market doesn't quickly reverse, then the market could head
towards the top of the current trading range (1352 on the
bottom to 1388 on the top on the SP futures). If that occurs
over the next few days, it will probably set up another very
good shorting opportunity.
On Friday look for early strength to be sold, and then the
first decent pullback should set up a buying opportunity.
For now, the market should be vulnerable unless / until the
initial resistance is broken and held on a pullback.
The initial resistance is at the 1369.00-1369.75 area on the
SP futures and the 1870.25-1871.50 area on the Nasdaq
futures. If the market cannot get through those areas, then
shorting bounces is the way to go. However, if the market
gets over those areas and holds, then the next resistance is
at the 1373.50 and 1876.50 levels. The big hurdles would be
around the 1378.50-1379.00 area on the SP futures and the
1882.50-1883.25 area on the Nasdaq futures.
The initial support is at the 1358.00-1357.50 area on the SP
futures and the 1853.50-1853.00 area on the Nasdaq futures.
If those are tested and the market doesn't hold, then we
will likely go for the 1351.50-1351.00 area on the SP
futures and the 1833.50-1832.50 area on the Nasdaq futures.
If the market gets down there and can't reverse again, then
the door is open for a move down towards the 1342.50-1341.75
area on the SP futures and the 1822.00-1820.50 area on the
Nasdaq futures.
June 2008 SP futures resistance
symbols: emini = esm8 / big contract =spm8
1369.00-1369.75
1373.50
1378.50-1379.00
June 2008 SP futures support
symbols: emini = esm8 / big contract =spm8
1358.00-1357.50
1351.50-1351.00
1342.50-1341.75
June 2008 Nasdaq futures resistance
symbols: emini = nqm8 / big contract = ndm8
1870.25-1871.50
1876.50
1882.50-1883.25
June 2008 Nasdaq futures support
symbols: emini = nqm8 / big contract = ndm8
1853.50-1853.00
1833.50-1832.50
1822.00-1820.50
June 2008 Dow futures resistance
symbols: emini = ymm8
12645-12648
12672
12728-12732
June 2008 Dow futures support
symbols: emini = ymm8
12552-12549
12497-12492
12432-12428
June 2008 Russell futures resistance
symbols: emini = er2m8 / big contract = er2m8
711.00-711.50
714.20
718.80-719.40
June 2008 Russell futures support
symbols: emini = er2m8 / big contract = er2m8
704.00-703.60
696.10-695.70
690.10-689.60
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
Good Trading,
Mike Reed
Copyright (c) 2008 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without permission.
.................................................
TradeStalker's
R.B.I. Trader's Update
04 / 11 / 2008
Intraday Update
...............................................
Dateline: 10:22 eastern time, es8m= 1348 nq8m= 1831
So far the ES has bottomed just above the 1342.50-1341.75
zone and turned up. This rally needs to get over 1350.50
and not quickly reverse to avoid a retest of the lows, or
lower. There is major support at 1339.00-1338.50 if there
is another drive to the downside.
Good trading,
Mike
.................................................
TradeStalker's
R.B.I. Trader's Update
04 / 11 / 2008
Intraday Update # 2
...............................................
Dateline: 11:51 eastern time, es8m= 1348 nq8m= 1831
The ES popped over 1350.50, but reversed that in about 5
minutes they retreated to make slightly higher lows. This
bounce should fizzle by noon. If the high is exceeded,
there's good resistance at 1353.00-1353.50 that shouldn't
be exceeded today if the market is still vulnerable for
another drop to take out the lows.
Good trading,
Mike
--
NOTE: The downside started to gather steam around noon,
just in time. Join the club by going here:
http://www.tradestalker.com/order-page.htm
(or call us at 260-750-2447)
.................................................
TradeStalker's
R.B.I. Trader's Update
04 / 11 / 2008
Intraday Update # 3
...............................................
Dateline: 12:31 eastern time, es8m= 1342 nq8m= 1820
The downside target/support at 1342.50-1341.75 was cut
through and now the ES must break and hold over 1346.50
to get out of trouble. The 1339.00-1338.50 zone should
be next.
Good trading,
Mike
.................................................
TradeStalker's
R.B.I. Trader's Update
04 / 11 / 2008
Intraday Update # 4
...............................................
Dateline: 1:58 eastern time, es8m= 1340. nq8m= 1812.5
The 1339.00-1338.50 zone is being tested, but the action
has been trend-down since the noon failure. The ES needs
to break and hold over the 1342.50 level now to break the
downside momentum.
Good trading,
Mike
.................................................
TradeStalker's
R.B.I. Trader's Update
04 / 11 / 2008
Intraday Update # 5
...............................................
Dateline: 2:23 eastern time, es8m= 1338 nq8m= 1807
The key resistance is at 1341.00-1341.50 zone. It is
still a trend down day unless that zone is exceeded,
and held on a pullback. If that *does* occur, then the
1345.00-1345.50 zone would be next. However, if this is
going to stay a trend day, the low should be made in the
last hour.
Good trading,
Mike
--NOTE: Odds were good for a last hour low, or I wouldn't
have mentioned it. But it sure helped members milk the
most out of a good trade. Join the gang by going here:
http://www.tradestalker.com/order-page.htm
(or call us at 260-750-2447)
.................................................
TradeStalker's
R.B.I. Trader's Update
4/9/2008
(Published Since 1996)
...............................................
Dateline: 6:21 pm eastern time, 4/9/2008
The market opened about flat and then popped to 1370.75 on
the SP futures on Wednesday. That was just under the pivotal
1371.50-1372.25 zone, and then selling came in. The market
sold off steadily to the 1361.00-1360.25 support zone on the
SP futures and the 1838.00-1836.50 area on the Nasdaq
futures. Off of lows at 1361.50 and 1837.00, respectively,
they bounced to 1365.75 and 1846.75 and then dropped to
lower lows. The SP futures held at 1360.75 and they bounced
again, but the action was lethargic and that key support was
broken. The market went into trend-down mode, with only a
bounce that failed at the 1360 level coming before heading
towards the next key support. The 1351.00-1350.50 area on
the SP futures was tested in the last hour and after making
a low at 1351.50 on the SP futures, the market turned back
up and retraced about half of its losses into the close.
The market appears to be seeking out a trading range and the
low on the SP futures on Wednesday came at logical support
area. If the market can hold the Wednesday lows on a
pullback, the market will be okay. If those lows are not
defended, then the market could drop another 12-15 SP points
before finding a tradable low.
On Thursday look for early strength to set up a shorting
opportunity. If that plays out, then beware that the first
decent pullback should set up a buying opportunity,
especially as long as the initial support levels hold. If
they don't hold, then a test of the Wednesday lows will need
to hold, or else we could see a little air-pocket type of
drop down towards the 1338.00-1336.50 area on the SP
futures.
The initial resistance is at the 1360.50-1361.00 area on the
SP futures and the 1838.75-1839.75 area on the Nasdaq
futures. If there is follow through buying and those areas
are not a problem, then the next resistance is up at the
1365.75-1366.25 area on the SP futures and the 1845.75-
1846.75 area on the Nasdaq futures. If the market gets up
there early on Thursday and the move stalls out/ reverses,
then it would make a good shorting opportunity. If the
market is strong and those areas do not cause an
interruption in the uptrends, then we will likely head for
the 1370.25-1370.50 area on the SP futures and the 1855.75-
1856.75 area on the Nasdaq futures. If those are reached and
the move doesn't quickly back away, then the rally could
continue on up towards the 1378.00-1378.50 area on the SP
futures.
The initial support is at the 1355.00 level on the SP
futures and the 1829.50 level on the Nasdaq futures. The
market is in "buy the dip" mode as long as those levels hold
in the early going. If those are broken, then a test of the
1351.00-1350.50 area on the SP futures and the 1820.50-
1818.75 area on the Nasdaq futures would need to hold. If
those areas are not bought, then the door is open for a move
towards the 1342.50-1341.75 area on the SP futures and the
1812.25-1810.50 area on the Nasdaq futures. Those areas
should hold unless there is something seriously wrong with
the market. In that case, further weakness should take the
SP futures down towards the 1338.50-1338.00 area, which is
the last good support in front of a trip towards the
1324.50-1323.50 area on the SP futures.
June 2008 SP futures resistance
symbols: emini = esm8 / big contract =spm8
1360.50-1361.00
1365.75-1366.25
1370.25-1370.50
1378.00-1378.50
June 2008 SP futures support
symbols: emini = esm8 / big contract =spm8
1355.00
1351.00-1350.50
1342.50-1341.75
1338.50-1338.00
1324.50-1323.50
June 2008 Nasdaq futures resistance
symbols: emini = nqm8 / big contract = ndm8
1838.75-1839.75
1845.75-1846.75
1855.75-1856.75
June 2008 Nasdaq futures support
symbols: emini = nqm8 / big contract = ndm8
1829.50
1820.50-1818.75
1812.25-1810.50
June 2008 Dow futures resistance
symbols: emini = ymm8
12579-12584
12623-12626
12664-12668
June 2008 Dow futures support
symbols: emini = ymm8
12514
12466-12462
12399-12395
June 2008 Russell futures resistance
symbols: emini = er2m8 / big contract = er2m8
701.20-701.70
707.50-707.80
711.20-711.60
June 2008 Russell futures support
symbols: emini = er2m8 / big contract = er2m8
697.10
695.50-695.00
686.00-685.50
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
Good Trading,
Mike Reed
.................................................
TradeStalker's
R.B.I. Trader's Update
04 / 10 / 2008
Intraday Update
...............................................
Dateline: 10:31 eastern time, es8m= 1359 nq8m= 1855
The pop on the open was sold, and the first decent
pullback nailed the key support and turned back up.
The 1356.50-1356.00 area needs to hold on a pullback.
If it doesn't, then a high for this morning will be
in place.
Good trading,
Mike
.................................................
TradeStalker's
R.B.I. Trader's Update
04 / 10 / 2008
Intraday Update # 2
...............................................
Dateline: 11:37 eastern time, es8m= 1366 nq8m= 1862
The move is looking a bit tired, but the 1364.00
level is decent support and the upside is intact
as long as that holds. If it doesn't, then a move
back to 1360.50-1360.00 is a key, must hold, area.
Good trading,
Mike
.................................................
TradeStalker's
R.B.I. Trader's Update
04 / 10 / 2008
Intraday Update # 3
...............................................
Dateline: 2:09 eastern time, es8m= 1365 nq8m= 1865
The ES has failed 3 times to get to/through the
1370.25-1370.50 area. The break of 1364.00 earlier
put a dent in the momentum. If that level s broken
again, and not quickly reversed, then the market
could unwind to the downside this afternoon.
Good trading,
Mike
Copyright (c) 2008 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without permission.
.................................................
TradeStalker's
R.B.I. Trader's Update
4/8/2008
(Published Since 1996)
...............................................
Dateline: 6:48 pm eastern time, 4/8/2008
The market gapped down on Tuesday and right at the 1364.75-
1364.25 support zone on the SP futures, and getting footing
at the 1364.00 level on the SP futures, the market reversed
course. The move back to the upside was thin and choppy as
the SP futures worked their way to 1372.25 and then
reversed. The trends turned down and the market went into a
choppy downside move. After the Fed minutes were released
the market pushed to new lows for the day. While the SP
futures reached 1362.25 and stayed above key support, the
Nasdaq futures stopped at its 1843.25-1842.25 support area
while the Dow futures held its 12528-12524 support area and
the market turned around. The SP futures popped up to test
the 1370 resistance and backed off 3 points, but buying came
back in and the market rallied into the close.
The Tuesday range for the SP futures was the smallest since
December 24th, 2007. The futures closed well above fair
value, so higher prices are in the market for early
Wednesday. As stated last night, it looked like the market
needed to sell off to establish a lower end of a range. The
Tuesday lows on the Dow, Nasdaq and Russell futures all were
at a support zone, while the SP futures stayed a bit above
its key area.
As long as the market can stay over the 1361.00-1360.25 area
on the SP futures and the 1843.25-1842.25 area on the Nasdaq
futures, then a bottom side of a new range is forming and
the market will be okay to buy on pullbacks. The top of the
ranges would be at the Monday high areas. However, if the
market breaks through *both* the 1361.00-1360.25 area on the
SP futures and the 1843.25-1842.25 area on the Nasdaq
futures, and doesn't quickly reverse, then the market could
be in for a bit of trouble. The market has a very "uptight"
feel to it, in that participants sense a good move coming
and are quick to reposition at any hint of a turn-around.
Given that the ranges have contracted quite a bit, another
big directional move should be close at hand.
The initial resistance, and it should be pivotal, is at the
1371.50-1372.25 area on the SP futures and the 1859.50-
1861.00 area on the Nasdaq futures. If those are broken, and
the market doesn't quickly reverse, then it could be up and
away to the upside. The next resistance is at the 1378.00-
1378.50 area on the SP futures and the 1873.50-1874.25 area
on the Nasdaq futures. If the market gets back there and the
move reverses, then we could see the market fall back
towards the 1372.50 level on the SP futures. However, if
those areas are not a problem then the next hurdles would be
at the 1383.00-1383.50 area on the SP futures and the
1883.25-1883.75 area on the Nasdaq futures. If those are
broken, then a test of the 1388.50-1389.00 area on the SP
futures and/or the 1892.75-1893.75 area on the Nasdaq
futures would be the top of the ranges. If we get a move
back up there and it stalls/ reverses, then it would be a
good low risk shorting opportunity with a reasonable stop.
The initial support is at the 1366.50 level on the SP
futures and the 1851.00 level on the Nasdaq futures. If the
market is going to avoid testing the Tuesday low areas,
those levels shouldn't be broken. If those levels break and
the market doesn't quickly reverse, then the door is open
for a test of the 1361.00-1360.25 area on the SP futures and
the 1843.25-1842.25 area on the Nasdaq futures. Those areas
are key and will be a buying opportunity if reached and the
move stalls out. However, if those areas do not hold, then
there is something wrong and we could see the market unravel
a bit. The next support is at the 1356.50-1356.00 area on
the SP futures and the 1838.00-1836.50 area on the Nasdaq
futures. If the key support at 1361.00-1360.25 on the SP
futures breaks and those lower areas are tested and
reversed, then beware that a move back up through the
1360.25 level could spark a good reflex rally. However, if
the market cannot get back through 1360.25 then the downside
could accelerate.
June 2008 SP futures resistance
symbols: emini = esm8 / big contract =spm8
1371.50-1372.25
1378.00-1378.50
1383.00-1383.50
1388.50-1389.00
June 2008 SP futures support
symbols: emini = esm8 / big contract =spm8
1366.50
1361.00-1360.25
1356.50-1356.00
June 2008 Nasdaq futures resistance
symbols: emini = nqm8 / big contract = ndm8
1859.50-1861.00
1873.50-1874.25
1883.25-1883.75
1892.75-1893.75
June 2008 Nasdaq futures support
symbols: emini = nqm8 / big contract = ndm8
1851.00
1843.25-1842.25
1838.00-1836.50
June 2008 Dow futures resistance
symbols: emini = ymm8
12608-12612
12645-12648
12687-12692
12728-12731
June 2008 Dow futures support
symbols: emini = ymm8
12569
12528-12524
12484-12477
June 2008 Russell futures resistance
symbols: emini = er2m8 / big contract = er2m8
714.40-714.90
720.60-721.00
723.90-724.50
727.60-728.00
June 2008 Russell futures support
symbols: emini = er2m8 / big contract = er2m8
711.00
707.30-706.90
704.30-703.80
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
Good Trading,
Mike Reed
.................................................
TradeStalker's
R.B.I. Trader's Update
04 / 09 / 2008
Intraday Update
...............................................
Dateline: 10:43 eastern time, es8m= 1361.5 nq8m= 1837
The market is not acting very well. The ES needs to get
over 1365 and hold on a pullback to avoid potential trouble
today.
Good trading,
Mike
.................................................
TradeStalker's
R.B.I. Trader's Update
04 / 09 / 2008
Intraday Update # 2
...............................................
Dateline: 11:41 eastern time, es8m= 1356.5 nq8m= 1857
That bounce off of 1361.00 couldn't hold over 1365
and the key support has broken. That 1360.50 is now
resistance and it's trend-down unless broken.
Good trading,
Mike
--
NOTE- The ES bounced to 1365.50 and quickly went down
thru 1365.00, keeping the "short bounces" in play.
Joing us here-
http://www.tradestalker.com/order-page.htm
(or call us at 260-750-2447)
--
.................................................
TradeStalker's
R.B.I. Trader's Update
04 / 09 / 2008
Intraday Update # 2
...............................................
Dateline: 11:41 eastern time, es8m= 1356.5 nq8m= 1857
That bounce off of 1361.00 couldn't hold over 1365
and the key support has broken. That 1360.50 is now
resistance and it's trend-down unless broken.
Good trading,
Mike
.................................................
TradeStalker's
R.B.I. Trader's Update
04 / 09 / 2008
Intraday Update # 3
...............................................
Dateline: 1:01 eastern time, es8m= 1356 nq8m= 1828
The trend-down move continues. The 1358.00-1358.50
zone shouldn't be exceeded on a bounce if we are
going to make a last hour low. There is key support
at the 1351.00-1350.50 zone that will need to hold.
Good trading,
Mike
.................................................
TradeStalker's
R.B.I. Trader's Update
04 / 09 / 2008
Intraday Update # 4
...............................................
Dateline: 2:20 eastern time, es8m= 1355.5 nq8m= 1826
The ES poked over 1358.50 but then reversed from the
old key support. The 1360.50 level needs to be exceeded
and held to get out of trouble. If the 1351.00-1350.50
zone doesn't hold, then we could drop towards the 1338-
1336 zone on this leg down.
Good trading,
Mike
--
NOTE: Our members had that zone early in the day and
it was a good spot to look to cover shorts, at least.
Join our group by going here -
http://www.tradestalker.com/order-page.htm
(or call us at 260-750-2447)
--
Copyright (c) 2008 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without permission.
.................................................
TradeStalker's
R.B.I. Trader's Update
4/7/2008
(Published Since 1996)
...............................................
Dateline: 6:25 pm eastern time, 4/7/2008
The market opened higher on Monday and after poking to
1383.50 on the SP futures, the move stalled out around that
level and then pulled back for about an hour. After reaching
1376.00 on the SP futures, the market turned back up and
broke through the 1383.00 level. It held on a little
pullback as the market was in a trend-up move going into the
afternoon. The resistance at the 1387.50-1388.00 zone was
barely poked over and after touching 1389.00 on the SP
futures, the move was rejected. The market pulled back and
when the SP futures broke back down through the 1383 level
it triggered more selling. The market went to new lows for
the day with the SP futures dropping 18.75 points to 1370.25
before a bounce attempt into the close.
We get the FOMC Minutes at 2 pm on Tuesday. The last 3 days,
the SP500 cash has closed +1.78, +1.09, and +2.14 points.
The market is holding up after the big run up last week, but
momentum is waning. Prices look like they need to stretch to
the downside from up here before establishing a bottom side
of trading range. It will take a break and hold over the
initial resistance on Tuesday to avoid potential trouble.
The key area last week was at the 1361.00-1360.25 zone on
the SP futures and if the market gets down there and turns
back up, then we will likely begin a trading range. However,
if that zone is tested and buyers back away, then the market
is back in trouble again.
The initial resistance is at the 1378.00-1378.50 area on the
SP futures and the 1873.50-1874.25 area on the Nasdaq
futures. The market is vulnerable unless those areas are
exceeded and held. If those break and the market doesn't
quickly reverse, then the next hurdles are at the 1383.00-
1383.50 area on the SP futures and the 1883.25-1883.75 area
on the Nasdaq futures. If those are reached and the market
doesn't reverse, then a test of the 1388.50-1389.00 area on
the SP futures and the 1892.75-1893.75 area on the Nasdaq
futures could be in the cards.
The initial support is at the 1370.50-1369.75 area on the SP
futures and the 1863.50-1862.75 area on the Nasdaq futures.
If those are easily broken, then the 1364.75-1364.25 area on
the SP futures and the 1853.50-1852.75 area on the Nasdaq
futures should offer pretty good support. If those areas are
broken, then the market is weak and a test of the 1360.50-
1360.25 area on the SP futures and the 1843.25-1842.25 area
on the Nasdaq futures would be a key test of the bulls'
attitude. If those areas are not defended, then the door is
open for a sharp drop. The 1356.50 level on the SP futures
and the 1838.00 level on the Nasdaq futures would be the
last good potential turning point levels in the way of a big
down day.
NOTE: I will be out off my office in the late morning / early
afternoon on Tuesday so Intraday Updates might not be
possible on Tuesday afternoon.
June 2008 SP futures resistance
symbols: emini = esm8 / big contract =spm8
1378.00-1378.50
1383.00-1383.50
1388.50-1389.00
June 2008 SP futures support
symbols: emini = esm8 / big contract =spm8
1370.50-1369.75
1364.75-1364.25
1360.50-1360.25
1356.50
June 2008 Nasdaq futures resistance
symbols: emini = nqm8 / big contract = ndm8
1873.50-1874.25
1883.25-1883.75
1892.75-1893.75
June 2008 Nasdaq futures support
symbols: emini = nqm8 / big contract = ndm8
1863.50-1862.75
1853.50-1852.75
1843.25-1842.25
1838.00
June 2008 Dow futures resistance
symbols: emini = ymm8
12645-12648
12687-12692
12728-12731
June 2008 Dow futures support
symbols: emini = ymm8
12580-12574
12528-12524
12494-12487
12455
June 2008 Russell futures resistance
symbols: emini = er2m8 / big contract = er2m8
713.60-714.20
717.40-717.80
720.60-721.00
June 2008 Russell futures support
symbols: emini = er2m8 / big contract = er2m8
709.80-709.40
708.40-708.20
704.30-703.80
700.70
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
Good Trading,
Mike Reed
.................................................
TradeStalker's
R.B.I. Trader's Update
04 / 08 / 2008
Intraday Update
...............................................
Dateline: 10:20 eastern time, es8m= 1368 nq8m= 1856
Last night I stated "The 1364.75-1364.25 area on the
SP futures...should offer pretty good support" and so
far it has been solid. However, the market isn't acting
great and if the ES reaches 1370.00-1371.00 and stalls,
beware of a reversal.
Good trading,
Mike
.................................................
TradeStalker's
R.B.I. Trader's Update
04 / 08 / 2008
Intraday Update # 2
...............................................
Dateline: 11:43 eastern time, es8m= 1369 nq8m= 1859
The slow and thinly traded grind higher might be over
with. The ES needs to get over 1372.00 and not quickly
reverse to get the upside going. The Fed minutes could
shake things up this afternoon. The bigger picture charts
are beginning to look ominous and a drop to be a pretty
big one.
Good trading,
Mike
Copyright (c) 2008 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without permission.
.................................................
TradeStalker's
R.B.I. Trader's Update
4/6/2008
(Published Since 1996)
...............................................
Dateline: 5:48 pm eastern time, 4/6/2008
The market had a good week last week as the lows were made
on Monday (at the 1314.50-1313.75 support zone on the on the
SP futures) and the highs were made on Friday. In doing so,
the SP500 moved to its highest level since February 27th.
That is where the last sharp break began, and after reaching
1383.00 on the SP futures on Friday, the market sold off
into the close.
The market is at a key spot. The SP500 cash reached a spot
on Friday where there should be very strong resistance. The
market didn't like the altitude over 1380 for very long on
Friday and then when it was tested after being broken,
selling came back in and the SP futures dropped 11.50 points
before a small rebound into the close. At the maximum, the SP
futures could get to the 1387.50-1388.00 area before they
must reverse. Otherwise, the market is taking out some good
resistance and it would open the door for another 7-10 SP
points at a minimum on the upside before some trouble sets
in.
The market is still a bit overbought and there are also some
divergences on Friday. In addition, the VIX has fallen to a
spot where a reversal could usher in a sharp drop. The
market closed the week in small downtrends and the way the
market acted late Friday, there is probably more downside
coming. So, if there is early strength on Monday, it will
set up a shorting opportunity. Thereafter, we will see how
the market acts if there is another test of the 1361.00-
1360.50 area on the SP futures. That area will hold if the
market is still in decent shape, or in a trading range at
best. If that area doesn't hold, then there is another sharp
drop underway most likely.
The initial resistance is at the 1380.00 level on the SP
futures and the 1885.00 level on the Nasdaq futures. If
those are broken and not quickly reversed, then the next
resistance is at the 1383.00 and 1891.25 highs from Friday.
The market should have trouble if it gets back up there. If
it does, and there is not a reversal, then we could see a
run towards the 1387.50-1388.00 area on the SP futures and
the 1897.25-1898.25 area on the Nasdaq futures.
The initial support is at the 1364.75-1364.25 area on the SP
futures and the 1853.50-1852.50 area on the Nasdaq futures.
If those are reached early, the market will reverse if it's
still in good shape. If those are broken, then a move to the
1361.00-1360.50 area on the SP futures and the 1843.50-
1842.50 area on the Nasdaq futures would need to hold. If
those break, the market will need to reverse the move or it
will mean trouble. There would be some support around the
1357.00-1356.50 area on the SP futures and the 1838.00-
1837.50 area on the Nasdaq futures. However, a test of the
1351.50-1351.00 area on the SP futures and the 1833.50-
1832.25 area on the Nasdaq futures would probably be in the
cards before buyers step back to the plate.
Note- SEE INTRADAY UPDATES BELOW S/R TABLES
June 2008 SP futures resistance
symbols: emini = esm8 / big contract =spm8
1380.00
1383.00
1387.50-1388.00 ***
June 2008 SP futures support
symbols: emini = esm8 / big contract =spm8
1364.75-1364.25
1361.00-1360.50
1357.00-1356.50
1351.50-1351.00
June 2008 Nasdaq futures resistance
symbols: emini = nqm8 / big contract = ndm8
1885.00
1891.25
1897.25-1898.25
June 2008 Nasdaq futures support
symbols: emini = nqm8 / big contract = ndm8
1853.50-1852.50
1843.50-1842.50
1838.00-1837.50
1833.50-1832.25
June 2008 Dow futures resistance
symbols: emini = ymm8
12666
12689
12718-12722
June 2008 Dow futures support
symbols: emini = ymm8
12528-12524
12501-12498
12472-12468
12434-12429
June 2008 Russell futures resistance
symbols: emini = er2m8 / big contract = er2m8
717.90
721.00
724.00-724.40
June 2008 Russell futures support
symbols: emini = er2m8 / big contract = er2m8
708.90-708.40
705.60-705.20
702.50-702.30
699.70-699.30
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
Mike Reed
SEE INTRADAY UPDATES BELOW
.................................................
TradeStalker's
R.B.I. Trader's Update
04 / 07 / 2008
Intraday Update
...............................................
Dateline: 10:33 eastern time, es8m= 13777 nq8m= 1877
The ES tested the 1383.00 level and per last night's
update "The market should have trouble if it gets back
up there." The short side is right as we should test
the 1374.00 level, at least. The ES needs to get over
1380 and hold to avoid trouble.
Good trading,
Mike
.................................................
TradeStalker's
R.B.I. Trader's Update
04 / 07 / 2008
Intraday Update # 2
...............................................
Dateline: 11:47 eastern time, es8m= 1385 nq8m= 1891
The last update was dead wrong. The market has a
good underlying bid today and as long as the 1380.50-
1380.00 zone holds the market should be ok. The
1387.50-1388.00 zone is the next key resistance.
Good trading,
Mike
.................................................
TradeStalker's
R.B.I. Trader's Update
04 / 07 / 2008
Intraday Update # 3
...............................................
Dateline: 12:49 eastern time, es8m= 1387 nq8m= 1891
The 1388.00 level has been exceeded, but rejected
at 1389 thus far. If you were long it was a good
spot to lock in profits. The next resistance today
is at 1392.50-1393.00. A pullback will need to hold
the 1383.00 level now to keep the upside going. If
it's broken, then we'll have a little reversal
pattern in place.
Good trading,
Mike
.................................................
TradeStalker's
R.B.I. Trader's Update
04 / 07 / 2008
Intraday Update # 4
...............................................
Dateline: 1:51 eastern time, es8m= 1382.5 nq8m= 1871
That 1389.00 high could be a top now that there is
a reversal in place. Only a move over 1385.50 now on
the ES will erase the bearish pattern. If the 1380.50-
1380.00 area breaks, then look for 1376.00 and possibly
1372.00.
Good trading,
Mike
.................................................
TradeStalker's
R.B.I. Trader's Update
04 / 07 / 2008
Intraday Update # 5
...............................................
Dateline: 2:41 eastern time, es8m= 1377 nq8m= 1871
The market broke and the 1376 target was met. The 1380
level shouldn't be broken if we are going to reach
1372.00 on this leg down today.
Good trading,
Mike
Copyright (c) 2008 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without permission.
.................................................
TradeStalker's
R.B.I. Trader's Update
4/3/2008
(Published Since 1996)
...............................................
Dateline: 6:18 pm eastern time, 4/3/2008
The market opened lower on Thursday and after cutting
through initial support, the downside stalled and reversed.
After a 9 point rally to 1369.50, the SP futures went back
and tested its low and bounced. The 1367.50 level was
exceeded and the SP futures tacked on another 10 points as
they reached 1377.75 before the move fizzled. The market was
choppy to the downside into the last 10 minutes of stock
trading. The SP futures turned back up after getting just a
tick above the 1366.50 updated support and bounced back into
the close.
We get the Jobs data before the open on Friday. This should
give the market a spark to make another sizable move. The SP
futures posted back to back narrow range days and this often
precedes a sizable move, or a pick-up in the volatility at
least.
The futures ended the day well above fair value on Thursday,
so some early upside is already in the market. However, the
daily indicators are still overbought and the upside
momentum is slowing. If the Jobs data doesn't create a big
move before stocks open, then look for early strength to be
sold in the first 30-40 minutes of trading. Then, after the
first pullback stalls out, it should set up a reversal.
Aside from that as a possible trading pattern early, nothing
bad happens unless the 1366.75-1366.25 area on the SP
futures is broken and the market doesn't quickly reverse.
The initial resistance is at the 1379.50-1380.00 area on the
SP futures and the 1876.75-1878.25 area on the Nasdaq
futures. If the market isn't quickly rejected at that zone,
then the market will be strong and we should head for the
1384.00 level on the SP futures and the 1882.25 level on the
Nasdaq futures. If the market doesn't turn back from those
levels, then the next big hurdles would be at the 1387.50-
1388.00 area on the SP futures and the 1887.25-1888.25 area
on the Nasdaq futures. Those should be a road block unless
the market goes into another melt-up mode like on Tuesday.
If those areas are reached and the market does not reverse,
then we could test the 1395.50-1397.00 zone on the SP
futures.
The initial support is at the 1366.75-1366.25 area on the SP
futures and the 1857.00-1856.00 area on the Nasdaq futures.
If those are not defended, then we will have more than just
profit taking underway. The key support would be at the
Wednesday double bottom area at the 1361.25-1360.50 area on
the SP futures, along with the 1848.50-1847.75 area on the
Nasdaq futures. If those cannot hold, then the 1357.00-
1356.50 area on the SP futures and the 1843.50-1842.50 area
on the Nasdaq futures is next. If those are blown through,
then we could drop towards the 1351.50-1351.00 area on the
SP futures and/or the 1833.50-1832.25 area on the Nasdaq
futures before the market gets footing and turns around.
June 2008 SP futures resistance
symbols: emini = esm8 / big contract =spm8
1379.50-1380.00
1384.00
1387.50-1388.00
1395.50-1397.00
June 2008 SP futures support
symbols: emini = esm8 / big contract =spm8
1366.75-1366.25
1361.25-1360.50
1357.00-1356.50
1351.50-1351.00
June 2008 Nasdaq futures resistance
symbols: emini = nqm8 / big contract = ndm8
1876.75-1878.25
1882.25
1887.25-1888.25
June 2008 Nasdaq futures support
symbols: emini = nqm8 / big contract = ndm8
1857.00-1856.00
1848.50-1847.75
1843.50-1842.50
1833.50-1832.25
June 2008 Dow futures resistance
symbols: emini = ymm8
12688-12692
12728
12758-12762
June 2008 Dow futures support
symbols: emini = ymm8
13580-12576
12548-12542
12512-12508
12464-12459
June 2008 Russell futures resistance
symbols: emini = er2m8 / big contract = er2m8
716.80-717.20
720.30
723.20-724.00
June 2008 Russell futures support
symbols: emini = er2m8 / big contract = er2m8
711.00-710.50
707.30-706.80
705.60-705.30
700.10-699.70
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
Good Trading,
Mike Reed
.................................................
TradeStalker's
R.B.I. Trader's Update
04 / 04 / 2008
Intraday Update
...............................................
Dateline: 10:47 eastern time, es8m= 1368 nq8m= 1858
The early pop was sold and the ES has broken the
1366.75-1366.25 key area. A bounce that stalls under
the 1369.25-1369.75 resistance is shorting opportunity.
If that is broken and held, we could see a squeeze
take the ES back towards 1376.00-1377.00 area.
Good trading,
Mike
.................................................
TradeStalker's
R.B.I. Trader's Update
04 / 04 / 2008
Intraday Update # 2
...............................................
Dateline: 11:19 eastern time, es8m= 1372.5 nq8m= 1866
The ES pushed through the 1369.25-1369.75 zone and
held at 1389.25 after breaking through so the move
has upside potential to the 1376.00-1377.00 area. It
looks like 1370.50 is now support. If that breaks, the
downside could gather steam.
Good trading,
Mike
.................................................
TradeStalker's
R.B.I. Trader's Update
04 / 04 / 2008
Intraday Update # 3
...............................................
Dateline: 11:38 eastern time, es8m= 1374.5 nq8m= 1871
The move is losing some momentum here, but the upside
will remain intact as long as the 1371 level holds on
a pullback.
Good trading,
Mike
.................................................
TradeStalker's
R.B.I. Trader's Update
04 / 04 / 2008
Intraday Update # 4
...............................................
Dateline: 12:21 eastern time, es8m= 1378 nq8m= 1877
The 1371.00 level held and the ES has reached the
1376.00-1377.00 area per the last update. The ES is
close to the 1379.50-1380.00 zone where a reversal
is possible. The market ok as long as the 1375.00
level holds
Good trading,
Mike
.................................................
TradeStalker's
R.B.I. Trader's Update
04 / 04 / 2008
Intraday Update # 5
...............................................
Dateline: 1:01 eastern time, es8m= 1380.5 nq8m= 1885
There was just a 2 point pullback off the 1379.75 high
on the ES before the grind higher continues. The 1377.50
level needs to hold on a pullback. The 1384.00-1384.50
zone would be next, and there should be good resistance
around 1388 on the ES.
Good trading,
Mike
.................................................
TradeStalker's
R.B.I. Trader's Update
04 / 04 / 2008
Intraday Update # 6
...............................................
Dateline: 2:11 eastern time, es8m= 1377.5 nq8m= 1884
The 1377.50 level holding so far, but it looks like a
top is in and we could see 1374.00-1373.50 if it picks
up steam. Bounces under 138100 are shorting opportunities.
Good trading,
Mike
--
It was ready, aim, fire when the ES tagged 1380 and fizzled,
putting the downside back in gear.
--
.................................................
TradeStalker's
R.B.I. Trader's Update
04 / 04 / 2008
Intraday Update # 7
...............................................
Dateline: 3:08 eastern time, es8m= 1377.5 nq8m= 1878
The bounce fizzled at 1380 resistance and dropped 4+
points thus far. Lock in profits and call it a day.
Good trading,
Mike
--
Well, a bit early on the exit, but better than letting
the market potentially take the profits away... not on
a Friday! Have a great weekend!
http://www.tradestalker.com/order-page.htm
--
--
Copyright (c) 2008 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without permission.
.................................................
TradeStalker's
R.B.I. Trader's Update
4/3/2008
(Published Since 1996)
...............................................
Dateline: 6:18 pm eastern time, 4/3/2008
The market opened lower on Thursday and after cutting
through initial support, the downside stalled and reversed.
After a 9 point rally to 1369.50, the SP futures went back
and tested its low and bounced. The 1367.50 level was
exceeded and the SP futures tacked on another 10 points as
they reached 1377.75 before the move fizzled. The market was
choppy to the downside into the last 10 minutes of stock
trading. The SP futures turned back up after getting just a
tick above the 1366.50 updated support and bounced back into
the close.
We get the Jobs data before the open on Friday. This should
give the market a spark to make another sizable move. The SP
futures posted back to back narrow range days and this often
precedes a sizable move, or a pick-up in the volatility at
least.
The futures ended the day well above fair value on Thursday,
so some early upside is already in the market. However, the
daily indicators are still overbought and the upside
momentum is slowing. If the Jobs data doesn't create a big
move before stocks open, then look for early strength to be
sold in the first 30-40 minutes of trading. Then, after the
first pullback stalls out, it should set up a reversal.
Aside from that as a possible trading pattern early, nothing
bad happens unless the 1366.75-1366.25 area on the SP
futures is broken and the market doesn't quickly reverse.
The initial resistance is at the 1379.50-1380.00 area on the
SP futures and the 1876.75-1878.25 area on the Nasdaq
futures. If the market isn't quickly rejected at that zone,
then the market will be strong and we should head for the
1384.00 level on the SP futures and the 1882.25 level on the
Nasdaq futures. If the market doesn't turn back from those
levels, then the next big hurdles would be at the 1387.50-
1388.00 area on the SP futures and the 1887.25-1888.25 area
on the Nasdaq futures. Those should be a road block unless
the market goes into another melt-up mode like on Tuesday.
If those areas are reached and the market does not reverse,
then we could test the 1395.50-1397.00 zone on the SP
futures.
The initial support is at the 1366.75-1366.25 area on the SP
futures and the 1857.00-1856.00 area on the Nasdaq futures.
If those are not defended, then we will have more than just
profit taking underway. The key support would be at the
Wednesday double bottom area at the 1361.25-1360.50 area on
the SP futures, along with the 1848.50-1847.75 area on the
Nasdaq futures. If those cannot hold, then the 1357.00-
1356.50 area on the SP futures and the 1843.50-1842.50 area
on the Nasdaq futures is next. If those are blown through,
then we could drop towards the 1351.50-1351.00 area on the
SP futures and/or the 1833.50-1832.25 area on the Nasdaq
futures before the market gets footing and turns around.
June 2008 SP futures resistance
symbols: emini = esm8 / big contract =spm8
1379.50-1380.00
1384.00
1387.50-1388.00
1395.50-1397.00
June 2008 SP futures support
symbols: emini = esm8 / big contract =spm8
1366.75-1366.25
1361.25-1360.50
1357.00-1356.50
1351.50-1351.00
June 2008 Nasdaq futures resistance
symbols: emini = nqm8 / big contract = ndm8
1876.75-1878.25
1882.25
1887.25-1888.25
June 2008 Nasdaq futures support
symbols: emini = nqm8 / big contract = ndm8
1857.00-1856.00
1848.50-1847.75
1843.50-1842.50
1833.50-1832.25
June 2008 Dow futures resistance
symbols: emini = ymm8
12688-12692
12728
12758-12762
June 2008 Dow futures support
symbols: emini = ymm8
13580-12576
12548-12542
12512-12508
12464-12459
June 2008 Russell futures resistance
symbols: emini = er2m8 / big contract = er2m8
716.80-717.20
720.30
723.20-724.00
June 2008 Russell futures support
symbols: emini = er2m8 / big contract = er2m8
711.00-710.50
707.30-706.80
705.60-705.30
700.10-699.70
---------------------------
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
Good Trading,
Mike Reed
.................................................
TradeStalker's
R.B.I. Trader's Update
04 / 04 / 2008
Intraday Update
...............................................
Dateline: 10:47 eastern time, es8m= 1368 nq8m= 1858
The early pop was sold and the ES has broken the
1366.75-1366.25 key area. A bounce that stalls under
the 1369.25-1369.75 resistance is shorting opportunity.
If that is broken and held, we could see a squeeze
take the ES back towards 1376.00-1377.00 area.
Good trading,
Mike
.................................................
TradeStalker's
R.B.I. Trader's Update
04 / 04 / 2008
Intraday Update # 2
...............................................
Dateline: 11:19 eastern time, es8m= 1372.5 nq8m= 1866
The ES pushed through the 1369.25-1369.75 zone and
held at 1389.25 after breaking through so the move
has upside potential to the 1376.00-1377.00 area. It
looks like 1370.50 is now support. If that breaks, the
downside could gather steam.
Good trading,
Mike
.................................................
TradeStalker's
R.B.I. Trader's Update
04 / 04 / 2008
Intraday Update # 3
...............................................
Dateline: 11:38 eastern time, es8m= 1374.5 nq8m= 1871
The move is losing some momentum here, but the upside
will remain intact as long as the 1371 level holds on
a pullback.
Good trading,
Mike
.................................................
TradeStalker's
R.B.I. Trader's Update
04 / 04 / 2008
Intraday Update # 4
...............................................
Dateline: 12:21 eastern time, es8m= 1378 nq8m= 1877
The 1371.00 level held and the ES has reached the
1376.00-1377.00 area per the last update. The ES is
close to the 1379.50-1380.00 zone where a reversal
is possible. The market ok as long as the 1375.00
level holds
Good trading,
Mike
.................................................
TradeStalker's
R.B.I. Trader's Update
04 / 04 / 2008
Intraday Update # 5
...............................................
Dateline: 1:01 eastern time, es8m= 1380.5 nq8m= 1885
There was just a 2 point pullback off the 1379.75 high
on the ES before the grind higher continues. The 1377.50
level needs to hold on a pullback. The 1384.00-1384.50
zone would be next, and there should be good resistance
around 1388 on the ES.
Good trading,
Mike
Copyright (c) 2008 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without permission.
.................................................
TradeStalker's
R.B.I. Trader's Update
04 / 04 / 2008
Intraday Update # 6
...............................................
Dateline: 2:11 eastern time, es8m= 1377.5 nq8m= 1884
The 1377.50 level holding so far, but it looks like a
top is in and we could see 1374.00-1373.50 if it picks
up steam. Bounces under 138100 are shorting opportunities.
Good trading,
Mike
--
It was ready, aim, fire when the ES tagged 1380 and fizzled,
putting the downside back in gear.
--
.................................................
TradeStalker's
R.B.I. Trader's Update
04 / 04 / 2008
Intraday Update # 7
...............................................
Dateline: 3:08 eastern time, es8m= 1377.5 nq8m= 1878
The bounce fizzled at 1380 resistance and dropped 4+
points thus far. Lock in profits and call it a day.
Good trading,
Mike
.................................................
TradeStalker's
R.B.I. Trader's Update
4/2/2008
(Published Since 1996)
...............................................
Dateline: 8:15 pm eastern time, 4/2/2008
The market popped up on the open on Wednesday and the SP
futures reached 1374.25 and sold off to 1365.50 in the first
40 minutes of trading. The reversal sparked a rally up to
1380.00 on the SP futures and then the move reversed. A
pullback to 1373.00 was reversed and the SP futures went
back to 1380.00 and reversed again. The market headed lower,
but after the SP futures made a double bottom at 1370.00,
the market bounced back again. The 1378.50 level was reached
and the market reversed from the top side of the range. The
selling was persistent into the last hour of trading as the
SP futures tested the 1362.50-1362.00 support zone and
bounced into the close.
On Thursday we will probably get more of the same two-sided
action, but the bias should be to the downside. The SP
futures had a fairly narrow range day and twice rejected the
1379.50-1380.00 zone on the SP futures. Many of the internal
gauges are overbought, or very close. In addition, the VIX
reversal gave a couple of VIX sell signals at Wednesday's
close. The market will need to get over the 1379.50-1380.00
zone on the SP futures and not turn right back down to erase
the bearish pattern.
The initial resistance is at the 1372.00-1372.50 area on the
SP futures and the 1856.25-1857.00 area on the Nasdaq
futures. If those areas are not sold, then we could retest
the 1379.50-1380.00 area on the SP futures and the 1876.75-
1878.25 area on the Nasdaq futures. If those areas are cut
through, then it would open the door for a squeeze towards
the 1387.50-1388.00 area on the SP futures and the 1882.25-
1884.00 area on the Nasdaq futures.
The initial support is at the 1362.50-1362.00 area on the SP
futures and the 1848.50-1847.75 area on the Nasdaq futures.
If those areas are broken, then there should be support at
the 1357.00-1356.50 area on the SP futures and the 1843.50-
1842.50 area on the Nasdaq futures. If the market gets there
and it doesn't quickly reverse, then we could head towards
the 1351.50-1351.00 area on the SP futures and the 1833.50-
1832.25 area on the Nasdaq futures.
June 2008 SP futures resistance
symbols: emini = esm8 / big contract =spm8
1372.00-1372.50
1379.50-1380.00
1387.50-1388.00
June 2008 SP futures support
symbols: emini = esm8 / big contract =spm8
1362.50-1362.00
1357.00-1356.50
1351.50-1351.00
June 2008 Nasdaq futures resistance
symbols: emini = nqm8 / big contract = ndm8
1856.25-1857.00
1876.75-1878.25
1882.25-1884.00
June 2008 Nasdaq futures support
symbols: emini = nqm8 / big contract = ndm8
1848.50-1847.75
1843.50-1842.50
1833.50-1832.25
June 2008 Dow futures resistance
symbols: emini = ymm8
12625-12629
12688-12692
12758-12762
June 2008 Dow futures support
symbols: emini = ymm8
12548-12542
12512-12508
12464-12459
June 2008 Russell futures resistance
symbols: emini = er2m8 / big contract = er2m8
712.80-713.60
716.80-717.20
723.20-724.00
June 2008 Russell futures support
symbols: emini = er2m8 / big contract = er2m8
707.30-706.80
705.60-705.30
700.10-699.70
---------------------------
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
Good Trading,
Mike Reed
.................................................
TradeStalker's
R.B.I. Trader's Update
04 / 03 / 2008
Intraday Update
...............................................
Dateline: 11:04 eastern time, es8m= 1362.5 nq8m= 1845
The market is under pressure per last night's update.
The ES should go for the 1357.00-1356.50 area and see
if it can then turn around. In any case, it will take
a move over 1367.50 to avoid potential trouble.
Good trading,
Mike
.................................................
TradeStalker's
R.B.I. Trader's Update
04 / 03 / 2008
Intraday Update # 2
...............................................
Dateline: 11:29 eastern time, es8m= 1365 nq8m= 1849
Well, they didn't go to 1357.00-1356.50 area, but did
just reverse from 1367.25. There is a double bottom in
place so that must hold to avoid a push to the 1357.00-1356.50 area.
Good trading,
Mike
.................................................
TradeStalker's
R.B.I. Trader's Update
04 / 03 / 2008
Intraday Update # 3
...............................................
Dateline: 1:15 eastern time, es8m= 1375.5 nq8m= 1871
The 1267.50 level was broken and the market has been
in rally mode off the double bottom this morning. If
there is a break under 1272.50 then the trend-up move
will reverse. The key support would be at the 1366.50
level. A move to the 1379.50-1380.00 area that isn't
quickly reversed could give us a squeeze towards 1384.00,
and maybe 1388.00-1388.50 area.
Good trading,
Mike
.................................................
TradeStalker's
R.B.I. Trader's Update
04 / 03 / 2008
Intraday Update # 4
...............................................
Dateline: 2:08 eastern time, es8m= 1373 nq8m= 1865
The 1372.50 level broke, but quickly turned back up.
If this bounce makes a lower high near 1376.00 and
reverses, it will set up a short trade.
Good trading,
Mike
Copyright (c) 2008 by TradeStalker.com, Ft Wayne, IN.
TradeStalker Updates may not be redistributed without permission.
.................................................
TradeStalker's
R.B.I. Trader's Update
4/1/2008
(Published Since 1996)
...............................................
Dateline: 6:34 pm eastern time, 4/1/2008
The market gapped up on Tuesday and kept going until having
a small problem with 1354.50 on the SP futures. They pulled
back about 4 points and then rallied to the 1359.50-1360.50
and pulled back. The pullback was small and the SP futures
bounced to 1362.75 and pulled back again. They dropped to
1357.00 and stalled and then the market turned back up and
rallied to the 1372-1375 band of resistance right before the
close.
The compression from Monday's action led to a very powerful
rally to begin the new quarter. The other recent big days
have been reversed and we get sizable reversals. However, a
sideways day up here seems necessary to get the same result.
The VIX dropped 11% on Tuesday and a reversal on this is
needed to change the sentiment and give short term sell
signals.
On Wednesday look for follow through strength to be sold and
then if the market is still in good shape the first pullback
of 5-6 points on the SP futures will hold and create a
buying opportunity. If there is a pullback that goes further
than that, then a back-and-forth type of day at best is what
we will likely be in for.
The initial resistance is at the 1372.00-1372.50 area on the
SP futures and the 1862.00-1862.50 area on the Nasdaq
futures. If those areas are not sold, then we could see a
squeeze towards the 1376.50-1377.50 area on the SP futures
and the 1868.00-1869.00 area on the Nasdaq futures. If the
market gets up there, be on reversal alert, especially if
the move occurs early and then stalls out. However, if those
are not sold, then the 1382.00-1382.50 area on the SP
futures and the 1874.50-1875.50 area on the Nasdaq futures
should offer good resistance.
The initial support is at the 1368.00 level on the SP
futures and the 1856.00 level on the Nasdaq futures, and
then what should be strong support down at the 1362.50-
1362.00 area on the SP futures and the 1850.50-1850.00 area
on the Nasdaq futures. If those don't hold, then a short
term top could be in place. The next support is at the
1357.00-1356.50 area on the SP futures and the 1844.75-
1844.00 area on the Nasdaq futures. If those break, then a
test of the 1351.50-1351.00 area on the SP futures and the
1833.50-1832.25 area on the Nasdaq futures is likely.
June 2008 SP futures resistance
symbols: emini = esm8 / big contract =spm8
1372.00-1372.50
1376.50-1377.50
1382.00-1382.50
June 2008 SP futures support
symbols: emini = esm8 / big contract =spm8
1368.00
1362.50-1362.00
1357.00-1356.50
1351.50-1351.00
June 2008 Nasdaq futures resistance
symbols: emini = nqm8 / big contract = ndm8
1862.00-1862.50
1868.00-1869.00
1874.50-1875.50
June 2008 Nasdaq futures support
symbols: emini = nqm8 / big contract = ndm8
1856.00
1850.50-1850.00
1844.75-1844.00
1833.50-1832.25
June 2008 Dow futures resistance
symbols: emini = ymm8
12655-12658
12694-12701
12724-12729
June 2008 Dow futures support
symbols: emini = ymm8
12616
12593-12588
12542-12538
12511-12508
June 2008 Russell futures resistance
symbols: emini = er2m8 / big contract = er2m8
710.20-710.60
714.00-714.40
716.20-716.60
June 2008 Russell futures support
symbols: emini = er2m8 / big contract = er2m8
708.20
705.80-705.30
705.80-705.30
700.10-699.70
---------------------------
REMINDER:
Real Time subscribers can view these updates on
the web at this site:
http://www.tradestalker.com/members
---------------------------
Good Trading,
Mike Reed
.................................................
TradeStalker's
R.B.I. Trader's Update
04 / 02 / 2008
Intraday Update
...............................................
Dateline: 10:51 eastern time, es8m= 1377.5 nq8m= 1876
The early strength was sold, and the first pullback
was more than 6 ES points but reversed.
The ES backed off from the 1376.50-1377.50 zone, but
no reversal, yet. If they make another run up, look
for 1382.00-1382.50. There is support at 1370.50-
1369.50 that should hold. If it's broken today, then
a short term top could form.
Good trading,
Mike
.................................................
TradeStalker's
R.B.I. Trader's Update
04 / 02 / 2008
Intraday Update # 2
...............................................
Dateline: 11:36 eastern time, es8m= 1376 nq8m= 1870
The market is getting tired, and this bounce should
fail. The ES needs to get over 1377.50-1378.00 to
avoid potential trouble on the downside.
Good trading,
Mike
.................................................
TradeStalker's
R.B.I. Trader's Update
04 / 02 / 2008
Intraday Update # 3
...............................................
Dateline: 11:57 eastern time, es8m= 1378 nq8m= 1873
The 13min chart, 15sma all the way up. only 123 here, or a
break/hold of that 15sma turns this tide.
Good trading,
Mike
.................................................
TradeStalker's
R.B.I. Trader's Update
04 / 02 / 2008
Intraday Update # 4
...............................................
Dateline: 12:05 eastern time, es8m= 1378.5 nq8m= 1874
To clarify, the 1373.50-1373.00 area where the 15sma
on the 13 minute chart sits right now. It also is the
last swing low area. The trends are up unless that
area breaks and the market doesn't reverse right away.
Good trading,
Mike
.................................................
TradeStalker's
R.B.I. Trader's Update
04 / 02 / 2008
Intraday Update # 5
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