HOW OUR DAY WENT: Early strength into new high ground
ran out of steam at 1035.00 on the ES, we had resistance
at 1036.00 and members were Instant Messaged that a top
could be in place. The market proved it shortly there-
after and the ES dropped to 1023.25. Updated resistance
at 1027.50 was met on the bounce, then a drop to 1021.25
new low followed. That was 1 tick above the 1021.00-
1020.50 support zone. A 4.75 point bounce off of that
support followed, but it fizzled and at 1026.00 and set
up a short, and the ES fell to 1021.75 before a rebound
into the close.
Good Trading,
Mike Reed
TradeStalker.com
Tuesday, August 25, 2009
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