HOW OUR DAY WENT:
The market had a "gap and go" open and
the ES went parabolic to 1056.75 (a tick under updated
resistance) then backed off. The bounce to 1055.50 reversed
setting up a 123 top, and the ES fell 10 points more points
after the 1052 level gave way. After holding a tick over
the updated support at 1042.50, a bounce fizzled at the
1052.50 resistance (where members were told to short) and
dropped 4.50 points to 1048.00 (where members were buyers).
The bounce off 1048.00 was just 3.25 points to 1051.25 but
we traded both sides well with low risk entries and almost
instant gratification on each setup.
Good Trading,
Mike Reed
TradeStalker.com
Tuesday, October 06, 2009
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