HOW OUR DAY WENT: We were shorting early strength, then
taking cover and getting long on the first decent pullback.
The ES popped up on the open and reversed from 882.25,
just under the 882.75-883.50 resistance zone. The ES
dropped 6.50 points to 875.75 before a stall/ reversal
came from. After that good start, we went to trading both
sides and were buying dips to the 60ema on the 5 minute
chart, then selling the pop when it stalled. Then off of
the 884.50 high the ES made a little 123 top (the entry
trigger the break of 882.50) and fell to 876.75 before
bouncing. That was sold per the last intraday update and
the ES dropped 4 points to match the 3:38 pm low just
before the close.
Good Trading,
Mike Reed
TradeStalker.com
Sunday, July 12, 2009
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