Today's Trading Recap: 03/22/10

HOW OUR DAY WENT:

The ES opened down 8.00 points on Monday
and then instantly reversed and held over the 1149.00-1148.50
key area. That triggered more buying and the ES rallied 12.50
points to 1160.25. Updated support at 1158.00-1157.50 held on
a dip and then the ES basically went trend up to 1162.50 - the
middle of the 1162.00-1163.00 resistance zone. New support was
given at 1160.00-1159.25, and that 1159.25 level was touched
and then we got another push up to 1163.25 before the market
backed off a bit. The dip held at 1161.00 and a test of the
1163.25 high followed. That was just 1 tick over resistance,
and a with a double top there with 30 minutes left in stock
trading, it started a drop to 1160.50 at the 4pm close for
stocks.

Good Trading,
Mike Reed
TradeStalker.com