Today's Trading Recap: 02/02/10

HOW OUR DAY WENT:

The early game-plan was to short early
strength, then beware of a reversal from the 1084.50-1084.00
key support area. The ES popped up to the 1088.50-1089.00
Resistance zone and reversed, dropping 4.25 points from
1089.00 to 1084.75 Support in 5 minutes and then turned back
up. The bounce stalled and reversed from 1088.50 and then
dropped 4.25 points again to the 1084.25 Support and turned
back up. That was a very good start. Then, with 2 reversals
from the pivotal 1084.50-1084.00 Support in place, the ES
rallied 13 points to the 1097-1098 Resistance zone shortly
after noon. Two small pullbacks from 1097.00 followed, but
the 1094.50 updated support held, setting up a bounce to
1099.50 just before 2pm. Things worked out very well for
our group today.

Good Trading,
Mike Reed
TradeStalker.com

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