Today's Trading Recap: 03/25/10

HOW OUR DAY WENT:

We were shorting early strength, and then
reversing and getting long when the first pullback reversed.
The gap up open was sold as the ES dropped 5 points to 1167.50
before turning up. That old resistance turned into support,
and set up a trend-up move to 1176.50 by early afternoon. The
alert to short under 1176 or a break of 1173 worked nicely. A
1-2-3 top was made off of 1176.00 and then the market broke
lower. A bounce reversed at 171, just under new resistance,
and then went into a trend-down move of 16.25 points as the
1162-1161 area was broken just before stocks closed.

Good Trading,
Mike Reed
TradeStalker.com