HOW OUR DAY WENT:
The ES rallied up to the 1065.50-1066.00
resistance area (1065.75 high) before Consumer Confidence
was released, then the sharp drop held the 1055.75-1055.25
zone (1055.50 pullback low). After that nice start for the
day, the ES then bounced to 1061.50 before stalling and
reversing. After the ES made a 123 top at 1061.00-1060.75
members were told at 2:43 pm that "the 1059.75-1060.50
area shouldn't be exceeded if the market is still in poor
shape" and a bounce to 1059.75 at 3:24 pm was reversed,
setting up a late 5.50 point drop to 1054.25 just before
they settled.
Good Trading,
Mike Reed
TradeStalker.com
Tuesday, October 06, 2009
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