Today's Trading Recap: 10/15/09

HOW OUR DAY WENT:

The ES opened at the key support at
the 1083.00-1082.50 area (1083.00 early low) and reversed,
giving up a trade on the long side and the ES bounced 4.50 points to 1087.50 before the move stalled and reversed.
That was Wednesday's close, and it set up a short that
took the ES back down 4.75 points to 1082.75 key support.
A bounce took the ES up to 1088.00, and that turned
pivotal. We had a small short off that level, but when
finally broken the ES rallied to just 3 ticks under the
1092.50-1093.00 resistance. A pullback to 1088.25 then set
up a long trade that ran up to 1093.25 before reversing
into settle at 1089.75.

Good Trading,
Mike Reed
TradeStalker.com