HOW OUR DAY WENT: The market gapped down on Wednesday,
then reversed right away. The break and hold back over
the 981.00-981.50 zone was good for a sprint to 988.75
before the move fizzled. A triangle pattern formed, but
members knew that the market was "ok" if 985.50 held and
that was the pull-back low before the market shot higher
again. The rally was rejected just 1 tick over the 998.00-
998.50 resistance zone, and then a pullback to 991.75
followed.
Good Trading,
Mike Reed
TradeStalker.com
Wednesday, August 19, 2009
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