HOW OUR DAY WENT: The ES gapped up 9.75 points on the
Jobs data, and it set up a short. The ES reversed from
1007.25, just under the 1008.50 resistance, and then
dropped 7.75 points to "old resistance" at 995.50. That
reversal set up a trade on the long side. A rally to
1013 followed. Updated support at 1008 area held, setting
up another long and the ES rallied to 1016.00 before
finally reversing. The group was told that we topped,
and did indeed as the ES fell 10+ points to the 1006-1005
zone into the close.
Good Trading,
Mike Reed
TradeStalker.com
This publication's primary focus is trading the index
futures. However, you can also use my nightly updates to
trade the following ETF's (SPY), (QQQQ), (SDS), (QID),
(DIA), and (DOG)
Monday, August 10, 2009
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