Today's Trading Recap: 09/08/09

HOW OUR DAY WENT:

The ES opened up 11.50 points, and
just a tick over the 1024.50-1025.25 resistance, then it
promptly reversed and dropped to 1020.50 in 15 minutes
before a bounce. Then when the rally off the 1019.00 low
failed 3 times at 1025.50 it was another short and we
covered at 1021 per an instant message sent at 11:54 am.
Then 1023.50 became important resistance. A bounce reached
1023.50 exactly, and then turned back down 3+ points to
1020.25. Into the close, the 1025.25-1025.50 area was a
lid, with the ES pulling back 3 points and then 2 points
from the 1025.25 and 1025.50 levels. The ES then bounced
to 1025.25 again before settlement.

Good Trading,

Mike Reed
TradeStalker.com