Today's Trading Recap: 10/20/09

HOW OUR DAY WENT:

We wanted to short early strength and
the ES popped up on the open and then reversed. There
was a bounce from the 1087.50-1086.50 support, but it
stalled and reversed from updated resistance at 1092 and
that gave a re-entry for the drop to the major support
at the 1083.00-1082.50 zone. The ES turned back up but
the 1087.50-1088.50 zone was updated resistance and
that gave us a 2.75 point dip and 3.75 point dip to lock
in profits.

Good Trading,
Mike Reed
TradeStalker.com