Today's Trading Recap: 01/13/10

HOW OUR DAY WENT:

The early strength fizzled, setting up a
short and the ES then dropped 7.50 points to the 1129.00-
1128.50 key support. A quick reversal set up a trade on
the long side and the ES bounced 3.75 points to updated
resistance at 1133.00. A short at that area was stopped
out for a small loss, as the ES ran up to 1141.00. The 1138
level was given as updated support, and that held for a 4.25
point move up to 1142.50. The pullback from 1142.50 was just
1.50 points, and then the ES reached 1145.25 and then sold
off. The break of 1143.50 turned the trend, giving a short
that gave the drop to 1141 per instant message.

See how we traded the market today. Check out our Instant
Messenger Log here:
http://www.tradestalker.com/log.htm

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)