Today's Trading Recap: 10/05/09

HOW OUR DAY WENT:

We had good reasons to expect a rally
and we got that for sure. The pop on the open reversed
and the ES dropped to the unchanged level and turned up.
After the ISM we caught a small short, then a long off
of 1028 on a break/hold of that level. The members were
given 1034.75 last night and 1034.00 was a lid in the
afternoon. But, we went back to being long over 1030.50
and the ES rallied to updated resistance/reversal area
at 1038.00-1038.50, reversing from a 1038.50 high.

Good Trading,
Mike Reed
TradeStalker.com