Today's Trading Recap: 08/05/09

HOW OUR DAY WENT: After closing right at the 1005.00-
1005.50 resistance zone on Tuesday, the market opened
lower on Wednesday and the dip was bought. The pop back
to 1004.00 reversed, setting up a good reward/risk short
for our members. The drop took the market down pretty
fast, then made a double bottom around 991.25 on the
ES. The updated resistance at 997.00-997.50 set up 2
nice scalps. The updated 933 support given intraday held
on the pullbacks, then a run to 1003.75 double top was
a short.

Good Trading,
Mike Reed
TradeStalker.com