Today's Trading Recap: 11/20/09

HOW OUR DAY WENT:

Last night's update was bearish for
Friday and the ES opened down almost 7 points and just
over the 1086.75-1086.25 support. Two bounces from that
area didn't go too far, and we were shorting against the
1088 level. That gave us a couple of scalps on the short
side. After getting over 1088, the pullback held the
1088.25 support. I stated in an intraday update "As long
as 1088.25 holds, the market keeps its bounce" and the
ES rallied to 1092.75. Members were told that would top
the move off, and the ES dropped 3.50 points into the
close.

Good Trading,
Mike Reed
TradeStalker.com