Today's Trading Recap: 08/03/09

HOW OUR DAY WENT: The gap up open was a short when 994
was broken through. The pullback was over just 25 minutes
of trading. After making a high at 999.25, the ES dipped
then the bounce reversed at a lower high, giving us a
short setup and the ES dropped to 992.25. That held the
updated support and the rally was back in gear. We were
looking for a reversal from the 999.50-1000.50 zone and
the ES reversed from 1001.00. An update after that told
members to short a move that went over then back down
thru 1000.00 and we got that, giving 3+ points as a drop
to 996.00 occurred before turning back up at the close.

Good Trading,
Mike Reed
TradeStalker.com