Today's Trading Recap: 01/25/10

HOW OUR DAY WENT:

The bottom line last night for an early
trade setup stated:

"If the market opens higher but reverses around the 1097.50-
1098.50 area in the first 30 minutes, that should set up a
trade on the short side for a pullback towards the Friday
closes, or lower."

Early strength reversed from just over the 1098.50 resistance
on the e-mini SP futures about 30 minutes into the day, then
dropped 7 points to 1091.75 which was Friday's closing range.
After a bounce, a new low was made at 1089.75 and the trend
down move reversed. After reaching 1097.75, there was a
pullback to 1094.50 updated support. A bounce of 5 points on
the ES to 1099.50 followed. Per I.M. the bounce was a short
at 3:14pm at 1098.25 with updated support at 1092.50 that
was reached at the close.

Good Trading,
Mike Reed
TradeStalker.com

During the day our subscribers are updated frequently in our
Instant Messenger Room. Each evening the log is uploaded,
CLICK HERE to read the log.

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)