Today's Trading Recap: 02/19/10

HOW OUR DAY WENT:

The market opened lower but the ES turned
up from just over the 1098.25-1097.75 zone support zone and
rallied 5.75 points to 1104.50 before going into a tight
range. We were watching both sides until there was a breakout.
When 1104 was broken, that area held on a dip and
the ES ran up to the last resistance up at the 1110.50-1112.00
zone. A short at resistance (the high was at 1111.00), the ES
pulled back 4.50 points to the 1107-1106 key support. The
1106.50 level was the pullback low, and a bounce to 1108.75
followed. The failure to clear the 1109.50 updated resistance
sent them 4.50 points lower to 1105.00 with 45 minutes left
in the trading day. They ran right up to 1109.50 and then
dropped right back down to 1105.25 before the close. A good
day for the support/resistance zones, a-gain.

Good Trading,
Mike Reed
TradeStalker.com

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