Today's Trading Recap: 03/15/10

HOW OUR DAY WENT:

The early action was almost according to
script from last night's update. The key 1142 level on the
ES was barely broken (by 1 tick) shortly after stocks opened,
then it popped up to 1145.50 before a sharp reversal. That
was just over the 1145 area, and I felt the move would
reverse from under 1145, so that was an official miss by half
of a point. In any case, after a drop to 1136.50, the market
got footing and 1139 turned pivotal. The break/ hold was over
that level was bullish but the bounce failed at 1140.75. The
pullback off of that level reversed back up with 90 minutes
left, and by breaking and then holding at 1143.50 level, it
gave us that "long shot" run-up to 1146.50-1147.00
resistance by the close.

Good Trading,
Mike Reed
TradeStalker.com

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This publication's primary focus is trading the index
futures ($ES_F). However, you can also use my nightly updates to
trade the following ETF's (SPY), (QQQQ), (SDS), (QID),
(DIA), and (DOG)