Today's Trading Recap: 11/10/09

HOW OUR DAY WENT:

We came into Tuesday expecting a two
sided day with a downside bias. The ES opened lower and
then turned up from 1 tick above the 1087.50-1087.00 key
initial support. The ES ran up 6.75 points to 1094.50
and then reversed. That set up the short side, and the
first bounce reversed from just under updated sell zone
and went to a 1085.00 low. The first bounce to 1089.00
was rejected and a little double bottom was made at
1086.25 then the ES bounced again. The move fizzled
and reversed from 1093.25, setting up a short, and the
ES dropped to 1089.00 - right at new key support at the
1089.00-1088.50 area.

Good Trading,
Mike Reed
TradeStalker.com