Today's Trading Recap: 12/08/09

HOW OUR DAY WENT:

The market gapped down on the open and
the fell for 15 minutes before reversing. The last listed
support areas for Tuesday were at at 1088.25-1087.50 on
the ES, 10244-10240 on the YM, and 1759.00-1757.75 on the
NQ. The early lows were at 1087.75 on the ES, 10240 on the
YM and 1760.00 on the NQ. The ES rallied to 1097.50 before
noon, and shortly thereafter members were told:

"The ES reached 1097.50 before reversing. That might be it
for the bounce if the 1094.60-1094.00 area is broken."

After breaking 1094 we were looking for a test of the low
and the ES went choppy trend down to 1088.75 by 3pm.

Good Trading,
Mike Reed
TradeStalker.com

This publication's primary focus is trading the index
futures. However, you can also use my nightly updates to
trade the following ETF's (SPY), (QQQQ), (SDS), (QID),
(DIA), and (DOG)