Today's Trading Recap: 12/11/09

HOW OUR DAY WENT:

The ES popped up to our 1102.50-1103.00
resistance zone on the open, and then dropped 4+ points
from 1102.75 to 1098.50 in front of the Michigan Sentiment
release. Then a rising wedge pattern formed as the ES made
a double top at 1104.00. That set up a short for us. I was
able to record "the second chance entry" when a rising wedge
pattern is broken. To see what was done, go here:

http://www.tradestalker.com/rising

The ES fell to 1096.25 before bouncing back. The break/
hold over the 1100 level opened the door for a rally to
the 1102.50-1103.00 area on the ES along with the 1794
level we had for resistance on the NQ. The market quickly
reversed there and fell fast shortly before the close.

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)