Today's Trading Recap: 02/03/10

HOW OUR DAY WENT:

The lower open was reversed and the ES
rallied to the 1099.50 resistance before fizzing out. It
trend-down until the 1091.50-1091.00 support area was
reached. Then after some bouncing around, the rally to the
1097.25 high set up a 123 top pattern, and the ES then fell
5.25 points to the updated 1092.00 support. The ES then
went range-bound as stated by instant message:

(Feb 03-15:20) mike: range to break, 92.50-92.00 the bottom
and 96.50-97.00 on top - short better odds

The ES bounced from 1092.50 to 1096.75, right at updated the 1096.50-1097.00 zone, then dropped 3+ points to 1093.50 at
the 4pm close for stocks.

Good Trading,
Mike Reed
TradeStalker.com

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