Today's Trading Recap: 02/16/10

HOW OUR DAY WENT:

The ES turned down from the 1085.50-1086.25
resistance and dropped to the 1080-1079 updated support. The
ES then made a double bottom at 1079.50 and the reversal set
up a trade on the long side. After running up to 1087.00,
members were given new support at 1083 and the ES turned up
from 1083.25 and rallied to a new high at 1089.00. The market
then turned choppy but the dips held the 1086.50-1086.00 old
resistance turned new support, and then the ES rallied to the
1093.50-1094.25 updated resistance at 3:45pm and pulled back
to the pivotal 1092 before bouncing into the close.

Good Trading,
Mike Reed
TradeStalker.com

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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)