Today's Trading Recap: 01/27/10

HOW OUR DAY WENT:

The ES popped up to 1090.50 and stalled
out, just under the 1091.00-1091.75 initial resistance,
allowing a good reward/risk entry on the short side. The
ES dropped 9.50 points to the 1081.00 support area before
reversing. A double bottom at the 1082-1081 support lead to
a bounce to 1088.50, then after a wedge break we had a nice
short near 1086.00 and the ES dropped to 1082.25. The group
was told to beware buying there, that 1084.00-1084.50 was
good resist and the pop reversed at 1084.50 before a drop
to 1081.75 before the Fed. After the release we got the down-
up-down move, then from 1082.00 again the trend move reached
the 1091.00-1091.75 resistance and backed off. The pullback
held at 1085.25 then rallied to the 1096.75-1097.50
resistance by the close. Sorry this was long, there was 10
swings of 4 points or more today....

See the Intraday Updates and the how we traded the market
today. That is *all* on our Instant Messenger Log here:
http://www.tradestalker.com/log.htm

Good Trading,
Mike Reed
TradeStalker.com