Today's Trading Recap: 11/02/09

HOW OUR DAY WENT:

The market started the week with a
decent rally to start the day, but after reaching 1049
on the ES the action was toppy and the break of 1043
meant lower prices ahead. The ES dropped fast to 1026
and the re-test and reversal was good for a quick trade
on the long side. Updated resistance at 1037.50-1038.50
was nailed, then a 5+ point drop from 1037.50 to 1032.25
followed. The a bounce to 1037.00 reversed and the ES
dropped 5.50 points to 1031.50 with about 30 minutes
left before the close.

Good Trading,
Mike Reed
TradeStalker.com