Today's Trading Recap: 09/21/09

HOW OUR DAY WENT:

The ES dropped to our 1053.50-1052.50
support on the open, and then it reversed and bounced
from 1053.00 to 1058.00 in about 10 minutes. Then after
the ES pushed through 1058.00, a dip held at 1058.25
and turned setting up a trade on the long side as the
ES went to 1061.50 before turning down. After a drop
an intraday update advised members:

"IF there is a bounce that stalls out around the 1060-
1061 area and it fails again, it sets up a short."

A quick reversal occurred from 1060.75, then a pullback
to 1058.00 followed. The bounce to a new high for the
day was reversed, then the 1058-1057 zone held giving
another bounce to 1061 before closing.


Good Trading,
Mike Reed
TradeStalker.com