HOW OUR DAY WENT:
Last night it was noted that a rising
wedge pattern formed late Monday. The ES opened lower,
bounced back to Monday's close, then the strength was
sold as the ES dropped 9.75 points before bouncing back.
A rally then set up a 5.75 point drop from 1072 to
1066.25 after the upside fizzled. Another bounce to
1072.00 gave a double top and a 4 point drop to 1068.00
just before the futures settled.
Good Trading,
Mike Reed
TradeStalker.com
This publication's primary focus is trading the index
futures. However, you can also use my nightly updates to
trade the following ETF's (SPY), (QQQQ), (SDS), (QID),
(DIA), and (DOG)
Tuesday, October 13, 2009
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