Today's Trading Recap: 11/03/09

HOW OUR DAY WENT:

The lower open was reversed and the
first bounce was sold right at our initial resistance
zone at 1040.00-1041.00. The ES dropped 7.75 points
from 1040.50 to 1032.75. A bounce to 1039.75 gave us
another shorting opportunity and the ES dropped 8.75
points to 1031.00. A rally to 1041.50 then reversed, and
since 1036.50 was prior shorting territory, we switched to
buying a pullback that held that 1036.50-1036.00 area. The
ES held right there and then rallied 6.50 points to 1043.00.
Then members were told to favor a short as 1043 was a top,
and the 1036.25 level was tested. A rally from that support
back to 1042.75 ended the day.

Good Trading,
Mike Reed
TradeStalker.com