HOW OUR DAY WENT: The lower open was reversed, but the
bounce stalled out after reaching 1007.75 on the ES. We
went short when the ES broke 1005.25 and then popped up
to 1006.75 and reversed. The ES "traded by the numbers"
thereafter, as the ES fell to the 999.50 support (6+
point profit opportunity), bounced back to the updated
resistance at 1002.50-1003.00 area (1002.75 bounce high).
From 1002.75, the ES fell 4+ points to 998.25. The
reversal back over 1000 took the pressure off, and after
a slugish move up to 1003 resistance, the ES pushed thru
rallied back nicely 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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