Today's Trading Recap: 11/04/09

HOW OUR DAY WENT:

The had a gap open at the 1051.50-
1052.25 resistance set up an early short. The ES turned
down from 1052.25 and dropped 4.50 points to 1047.75.
The upside then resumed and our target at 1055.75-
1056.50 area was exceeded by 1 point then stalled and
rolled over. We were then looking for a pullback to
1051.50-1051.00 to be key support and a pullback
reversed from 1051.50 and then bounced 2.50 points to
1054.00 before stalling out in front of the Fed release.
Members were told that if 1053 was broken then the
lows or 1043 would be reached and they fell to 1041.50
before a bounce into the close.

Good Trading,
Mike Reed
TradeStalker.com