HOW OUR DAY WENT:
We had a higher open over the initial resistance but the move up stalled/ reversed 23minutes into the trading day and the ES dropped 4 points. A bounce then reached 1171.00, right at the 1170.75-1171.50 **key** resistance, and it was rejected and the ES dropped 4.25 points to 1166.75 before turning very choppy. Not bad for
a day with just a 5.75 point range.
Good Trading,
Mike Reed
TradeStalker.com
Showing posts with label dynamic support and resistance. Show all posts
Showing posts with label dynamic support and resistance. Show all posts
Wednesday, March 31, 2010
Friday, March 05, 2010
Today's Trading Recap: 03/04/10
HOW OUR DAY WENT:
The early strength was sold, and from
1123.00 the ES dropped 7.50 points to the 1115.50-1115.25
key support. That first decent pullback held and reversed
off of that 1115.50-1115.25 zone and rallied to 1120.00
resistance. Then the ES went sideways in a 2,25 point
range for more than an hour, which set up a couple of
scalp shorts from the 1120.00-1120.50 resistance. The 4th
drop took the ES to 1117.75 and quickly reversed. The
bounce failed 1 tick over the 1120.50 resistance, but
the pullback was just 1.75 points before heading back up
in the last 45 minutes of trading.
Good Trading,
Mike Reed
TradeStalker.com
During the day our subscribers are updated frequently in our
Instant Messenger Room. Each evening the log is uploaded,
CLICK HERE to read the log.
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)
The early strength was sold, and from
1123.00 the ES dropped 7.50 points to the 1115.50-1115.25
key support. That first decent pullback held and reversed
off of that 1115.50-1115.25 zone and rallied to 1120.00
resistance. Then the ES went sideways in a 2,25 point
range for more than an hour, which set up a couple of
scalp shorts from the 1120.00-1120.50 resistance. The 4th
drop took the ES to 1117.75 and quickly reversed. The
bounce failed 1 tick over the 1120.50 resistance, but
the pullback was just 1.75 points before heading back up
in the last 45 minutes of trading.
Good Trading,
Mike Reed
TradeStalker.com
During the day our subscribers are updated frequently in our
Instant Messenger Room. Each evening the log is uploaded,
CLICK HERE to read the log.
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)
Wednesday, October 07, 2009
Today's Trading Recap: 10/07/09
HOW OUR DAY WENT:
We were shorting early strength and
the ES popped up to 1052.00 resistance about 10 minutes
in, then it dropped 5.75 points to a 1046.25 low. That
was a good start, then after the rally fizzled the call
for a choppy narrow range day came true. We had support
and resistance areas barely poked through by 2 ticks,
then the reversals occurred. Those areas were then pinned
down in the afternoon, and the ES bounced between 1051.50
resistance 1047.50 support, and after 1051.50 was finally
broken, the ES held above the 1051.50 on a dip then ran
up into the close for stocks.
Good Trading,
Mike Reed
TradeStalker.com
We were shorting early strength and
the ES popped up to 1052.00 resistance about 10 minutes
in, then it dropped 5.75 points to a 1046.25 low. That
was a good start, then after the rally fizzled the call
for a choppy narrow range day came true. We had support
and resistance areas barely poked through by 2 ticks,
then the reversals occurred. Those areas were then pinned
down in the afternoon, and the ES bounced between 1051.50
resistance 1047.50 support, and after 1051.50 was finally
broken, the ES held above the 1051.50 on a dip then ran
up into the close for stocks.
Good Trading,
Mike Reed
TradeStalker.com
Tuesday, October 06, 2009
Today's Trading Recap: 10/05/09
HOW OUR DAY WENT:
We had good reasons to expect a rally
and we got that for sure. The pop on the open reversed
and the ES dropped to the unchanged level and turned up.
After the ISM we caught a small short, then a long off
of 1028 on a break/hold of that level. The members were
given 1034.75 last night and 1034.00 was a lid in the
afternoon. But, we went back to being long over 1030.50
and the ES rallied to updated resistance/reversal area
at 1038.00-1038.50, reversing from a 1038.50 high.
Good Trading,
Mike Reed
TradeStalker.com
We had good reasons to expect a rally
and we got that for sure. The pop on the open reversed
and the ES dropped to the unchanged level and turned up.
After the ISM we caught a small short, then a long off
of 1028 on a break/hold of that level. The members were
given 1034.75 last night and 1034.00 was a lid in the
afternoon. But, we went back to being long over 1030.50
and the ES rallied to updated resistance/reversal area
at 1038.00-1038.50, reversing from a 1038.50 high.
Good Trading,
Mike Reed
TradeStalker.com
Today's Trading Recap: 09/28/09
HOW OUR DAY WENT:
We had reason to expect an oversold
rally, and the ES and NQ both took out their late Friday
highs and that triggered good buying. The ES first peaked
at 1057.00, just under the last listed resistance at the
1057.25-1058.00 zone on the ES. A pullback followed, but
it held updated support and the ES rallied to 1061.00, a
half point from updated resistance at the 1061.50-1063.00
zone, and reversed. After a 4 point drop to the 1057.00
updated support and bounced. An instant message told
members that the 1059 level needed to be exceeded and
held to avoid more pullback, and after that area was
reversed the ES dropped 3.25 points to 1055.75 in a
choppy move lower.
Good Trading,
Mike Reed
TradeStalker.com
We had reason to expect an oversold
rally, and the ES and NQ both took out their late Friday
highs and that triggered good buying. The ES first peaked
at 1057.00, just under the last listed resistance at the
1057.25-1058.00 zone on the ES. A pullback followed, but
it held updated support and the ES rallied to 1061.00, a
half point from updated resistance at the 1061.50-1063.00
zone, and reversed. After a 4 point drop to the 1057.00
updated support and bounced. An instant message told
members that the 1059 level needed to be exceeded and
held to avoid more pullback, and after that area was
reversed the ES dropped 3.25 points to 1055.75 in a
choppy move lower.
Good Trading,
Mike Reed
TradeStalker.com
Tuesday, September 15, 2009
Today's Trading Recap: 09/14/09
HOW OUR DAY WENT:
The market gapped down on the open on
Monday, and the move was quickly reversed from 1029.50 on
the ES (key support was at the 1030.50-1030.00 area) and
then rallied to 1040.00. As updated, that was rejected
and the ES pulled back. The 1038.50 level was then
broken, and held on a pullback, giving a run-up to the
next resistance at the 1043.50-1044.00 zone. That was a
lid for about an hour, but the 1041 level held per an
instant message room note, and the trend up move lasted
intil the last 5 minutes of trading, again per another
instant message room note.
Good Trading,
Mike Reed
TradeStalker.com
The market gapped down on the open on
Monday, and the move was quickly reversed from 1029.50 on
the ES (key support was at the 1030.50-1030.00 area) and
then rallied to 1040.00. As updated, that was rejected
and the ES pulled back. The 1038.50 level was then
broken, and held on a pullback, giving a run-up to the
next resistance at the 1043.50-1044.00 zone. That was a
lid for about an hour, but the 1041 level held per an
instant message room note, and the trend up move lasted
intil the last 5 minutes of trading, again per another
instant message room note.
Good Trading,
Mike Reed
TradeStalker.com
Today's Trading Recap: 09/11/09
HOW OUR DAY WENT:
We were selling early strength, and
had resistance at the 1043.50-1044.00 zone on the ES.
The ES reached 1043.75 and fizzled, a great reward/
risk shorting opportunity. The ES then dropped 10
points to 1033.50 before bouncing, right at initial
support at the 1034.00-1033.50 zone. Members were
then given 1038.00-1038.50 as new resistance, and the
bounce reached 1038.25 and turned back down. They had
a 3.25 point pullback, and then rallied up to 1039.25
before fizzling. I sent an instant message telling
members "if 1035 holds, and 1038 exceeded, then 1039.50
can be seen on 1 more push higher and then fail." The
ES popped to 1039.25, then dipped to 1037.00 before turning
up again. The up to 1040.75 was quickly reversed per the last
of 8 intraday updates. So, we nailed today's high AND low on
the ES, and also a had a couple of low risk scalps in between.
Good Trading,
Mike Reed
TradeStalker.com
We were selling early strength, and
had resistance at the 1043.50-1044.00 zone on the ES.
The ES reached 1043.75 and fizzled, a great reward/
risk shorting opportunity. The ES then dropped 10
points to 1033.50 before bouncing, right at initial
support at the 1034.00-1033.50 zone. Members were
then given 1038.00-1038.50 as new resistance, and the
bounce reached 1038.25 and turned back down. They had
a 3.25 point pullback, and then rallied up to 1039.25
before fizzling. I sent an instant message telling
members "if 1035 holds, and 1038 exceeded, then 1039.50
can be seen on 1 more push higher and then fail." The
ES popped to 1039.25, then dipped to 1037.00 before turning
up again. The up to 1040.75 was quickly reversed per the last
of 8 intraday updates. So, we nailed today's high AND low on
the ES, and also a had a couple of low risk scalps in between.
Good Trading,
Mike Reed
TradeStalker.com
Today's Trading Recap: 09/08/09
HOW OUR DAY WENT:
The ES opened up 11.50 points, and
just a tick over the 1024.50-1025.25 resistance, then it
promptly reversed and dropped to 1020.50 in 15 minutes
before a bounce. Then when the rally off the 1019.00 low
failed 3 times at 1025.50 it was another short and we
covered at 1021 per an instant message sent at 11:54 am.
Then 1023.50 became important resistance. A bounce reached
1023.50 exactly, and then turned back down 3+ points to
1020.25. Into the close, the 1025.25-1025.50 area was a
lid, with the ES pulling back 3 points and then 2 points
from the 1025.25 and 1025.50 levels. The ES then bounced
to 1025.25 again before settlement.
Good Trading,
Mike Reed
TradeStalker.com
The ES opened up 11.50 points, and
just a tick over the 1024.50-1025.25 resistance, then it
promptly reversed and dropped to 1020.50 in 15 minutes
before a bounce. Then when the rally off the 1019.00 low
failed 3 times at 1025.50 it was another short and we
covered at 1021 per an instant message sent at 11:54 am.
Then 1023.50 became important resistance. A bounce reached
1023.50 exactly, and then turned back down 3+ points to
1020.25. Into the close, the 1025.25-1025.50 area was a
lid, with the ES pulling back 3 points and then 2 points
from the 1025.25 and 1025.50 levels. The ES then bounced
to 1025.25 again before settlement.
Good Trading,
Mike Reed
TradeStalker.com
Tuesday, September 01, 2009
Today's Trading Recap: 08/28/09
HOW OUR DAY WENT:
We finished the week with a great early
trade. Last night members were told:
"On Friday look for early strength to be sold as soon as
the upside stalls, especially if that occurs in the first
20-40 minutes of trading and the ES runs up to test the
1038 area."
The ES gapped up, reached 1038.75, then reversed. A trend-
down move lasted until just after noon when the ES turned up
from 1022.00. A pop to 1025.00 failed, then the ES pulled back
and reversed from a higher low. That was 123 bottom, and the
ES rallied to 1028.75. Then, to finish the day the group was
told that 1025 on the ES and 9520 on the Dow were pivotal...
both were tested and reversed and the ES ran up to 1029.75
Good Trading,
Mike Reed
TradeStalker.com
We finished the week with a great early
trade. Last night members were told:
"On Friday look for early strength to be sold as soon as
the upside stalls, especially if that occurs in the first
20-40 minutes of trading and the ES runs up to test the
1038 area."
The ES gapped up, reached 1038.75, then reversed. A trend-
down move lasted until just after noon when the ES turned up
from 1022.00. A pop to 1025.00 failed, then the ES pulled back
and reversed from a higher low. That was 123 bottom, and the
ES rallied to 1028.75. Then, to finish the day the group was
told that 1025 on the ES and 9520 on the Dow were pivotal...
both were tested and reversed and the ES ran up to 1029.75
Good Trading,
Mike Reed
TradeStalker.com
Tuesday, August 25, 2009
Today's Trading Recap: 08/20/09
HOW OUR DAY WENT: The ES rallied to the 1003.50-
1004.00 resistance after the reversal at the open. The
ES barely poked over that zone, then gave us a 4 point
pullback. Then members were told that the 1004.25
level was in important level to get thru. Giving
that a 1 tick leeway, the ES rejected that level
3 times. In the last hour the ES cut through that
lid and moved up to 1007.75. They broke our target for
a reversal by 3/4 of a point, then reversed and fell
into the close.
Good Trading,
Mike Reed
TradeStalker.com
1004.00 resistance after the reversal at the open. The
ES barely poked over that zone, then gave us a 4 point
pullback. Then members were told that the 1004.25
level was in important level to get thru. Giving
that a 1 tick leeway, the ES rejected that level
3 times. In the last hour the ES cut through that
lid and moved up to 1007.75. They broke our target for
a reversal by 3/4 of a point, then reversed and fell
into the close.
Good Trading,
Mike Reed
TradeStalker.com
Thursday, August 13, 2009
Today's Trading Recap: 08/11/09
HOW OUR DAY WENT: The last line of last night's update
stated:
"...the ES needs to quickly reverse if the 1001.75-
1001.25 zone is seen. If the market isn't strong enough
to hold that area, then bounces will set up shorting
opportunities as the market attempts to break the Monday
lows before turning back up."
The ES opened at 1001.00, popped to 1001.75, then turned
back down. That triggered a short and the ES went "trend
down" to a 990.00 low. The little bounces were shorting
opportunities until Monday's low was broken. The bounce
off of 990.00 failed at 994.00, just below 994.50 updated
resistance, then tested the low. Members were alerted that
a move through 994.50-995.00 could mean a move to the 997-
998 area then a reversal. The ES made a little double top
at 996.75 and then dropped 5.75 points to 991.00 by the
close.
Good Trading,
Mike Reed
TradeStalker.com
stated:
"...the ES needs to quickly reverse if the 1001.75-
1001.25 zone is seen. If the market isn't strong enough
to hold that area, then bounces will set up shorting
opportunities as the market attempts to break the Monday
lows before turning back up."
The ES opened at 1001.00, popped to 1001.75, then turned
back down. That triggered a short and the ES went "trend
down" to a 990.00 low. The little bounces were shorting
opportunities until Monday's low was broken. The bounce
off of 990.00 failed at 994.00, just below 994.50 updated
resistance, then tested the low. Members were alerted that
a move through 994.50-995.00 could mean a move to the 997-
998 area then a reversal. The ES made a little double top
at 996.75 and then dropped 5.75 points to 991.00 by the
close.
Good Trading,
Mike Reed
TradeStalker.com
Monday, August 10, 2009
Today's Trading Recap: 08/06/09
HOW OUR DAY WENT: The higher open was a "gift" short,
especially with the futures all rejecting resistance
areas. Members had 1005.50-1006.25 on the ES, 1622.50-
1623.25 on the NQ, and 9289-9292 on the YM on their
charts, and with highs at 1005.75 on the ES, 1621.75 on
the NQ and 9289 on the YM all rejected, it set up a
fast drop. The market didn't stabalize until reaching
our 992.75-991.75 support on the ES, a drop of 13 points
on the ES. Members were given 999.00-999.50 as new
resistance and the bounce stalled and reversed from
999.00 and dropped 6 points to 993.00. After the bounce
failed the ES fell to 989.75 before turning up. We had
last support at 988.75-987.75, and just missed an entry
on the long side. Still, we nailed the high(s) on the
open, had the first pullback stop at the 992.75 support,
shorted a bounce to 999.00 resistance... another good
day for real time members.
Good Trading,
Mike Reed
TradeStalker.com
especially with the futures all rejecting resistance
areas. Members had 1005.50-1006.25 on the ES, 1622.50-
1623.25 on the NQ, and 9289-9292 on the YM on their
charts, and with highs at 1005.75 on the ES, 1621.75 on
the NQ and 9289 on the YM all rejected, it set up a
fast drop. The market didn't stabalize until reaching
our 992.75-991.75 support on the ES, a drop of 13 points
on the ES. Members were given 999.00-999.50 as new
resistance and the bounce stalled and reversed from
999.00 and dropped 6 points to 993.00. After the bounce
failed the ES fell to 989.75 before turning up. We had
last support at 988.75-987.75, and just missed an entry
on the long side. Still, we nailed the high(s) on the
open, had the first pullback stop at the 992.75 support,
shorted a bounce to 999.00 resistance... another good
day for real time members.
Good Trading,
Mike Reed
TradeStalker.com
Today's Trading Recap: 08/04/09
HOW OUR DAY WENT: The lower open held just over the
993.00-992.50 support zone and turned up. A pop from
993.50 to 999.25 followed - a good start to our day.
After a pullback the ES rallied to 1004.00. We were
wanting to short the 1005.00-1005.50 resistance zone
but when the 1001.75 level broke, so did the ES. The
ES double bottomed then went to the 1005.00 resistance
at the close.
Good Trading,
Mike Reed
TradeStalker.com
993.00-992.50 support zone and turned up. A pop from
993.50 to 999.25 followed - a good start to our day.
After a pullback the ES rallied to 1004.00. We were
wanting to short the 1005.00-1005.50 resistance zone
but when the 1001.75 level broke, so did the ES. The
ES double bottomed then went to the 1005.00 resistance
at the close.
Good Trading,
Mike Reed
TradeStalker.com
Today's Trading Recap: 08/03/09
HOW OUR DAY WENT: The gap up open was a short when 994
was broken through. The pullback was over just 25 minutes
of trading. After making a high at 999.25, the ES dipped
then the bounce reversed at a lower high, giving us a
short setup and the ES dropped to 992.25. That held the
updated support and the rally was back in gear. We were
looking for a reversal from the 999.50-1000.50 zone and
the ES reversed from 1001.00. An update after that told
members to short a move that went over then back down
thru 1000.00 and we got that, giving 3+ points as a drop
to 996.00 occurred before turning back up at the close.
Good Trading,
Mike Reed
TradeStalker.com
was broken through. The pullback was over just 25 minutes
of trading. After making a high at 999.25, the ES dipped
then the bounce reversed at a lower high, giving us a
short setup and the ES dropped to 992.25. That held the
updated support and the rally was back in gear. We were
looking for a reversal from the 999.50-1000.50 zone and
the ES reversed from 1001.00. An update after that told
members to short a move that went over then back down
thru 1000.00 and we got that, giving 3+ points as a drop
to 996.00 occurred before turning back up at the close.
Good Trading,
Mike Reed
TradeStalker.com
Today's Trading Recap: 07/27/09
HOW OUR DAY WENT:
The market "traded by the numbers" on
Monday. The market opened lower, and the ES immediately
popped up to 976.25 and fizzled before another drop. The
ES fell 3.50 points to 972.75 (the 972.50-972.00 initial
support). Able to hold the initial support, the ES ran up
to the 979.50-980.25 resistance zone. That zone was easily
rejected, and after a little double top was put in place
from 979.75 high, it started a 10.75 point trend-down move
to a 969.00 low (969.00-968.75 was the second support zone
listed) before turning back up. The bounce took the ES
6.75 points higher to 975.75, right at the 975.50-976.00
updated resistance zone, and it made a little double top
before selling off 5 points to 971.75. The ES rallied to
978.25, then pulled back. Then the last of 7 intraday
updates was sent telling members that a pop to a lower
high that reversed was a short, and the ES reversed from
977.75 and fell to 974.25 before the rally into the close.
Good Trading,
Mike Reed
The market "traded by the numbers" on
Monday. The market opened lower, and the ES immediately
popped up to 976.25 and fizzled before another drop. The
ES fell 3.50 points to 972.75 (the 972.50-972.00 initial
support). Able to hold the initial support, the ES ran up
to the 979.50-980.25 resistance zone. That zone was easily
rejected, and after a little double top was put in place
from 979.75 high, it started a 10.75 point trend-down move
to a 969.00 low (969.00-968.75 was the second support zone
listed) before turning back up. The bounce took the ES
6.75 points higher to 975.75, right at the 975.50-976.00
updated resistance zone, and it made a little double top
before selling off 5 points to 971.75. The ES rallied to
978.25, then pulled back. Then the last of 7 intraday
updates was sent telling members that a pop to a lower
high that reversed was a short, and the ES reversed from
977.75 and fell to 974.25 before the rally into the close.
Good Trading,
Mike Reed
Thursday, July 23, 2009
Today's Trading Recap: 07/23/09
HOW OUR DAY WENT: The market opened higher and went "trend
up" until getting to 976.25 on the ES. I was until around
noon and got our members a good trade. After coming off
the double top at 976.50 on the ES, those in the IM "room"
got this quick post at 3:21pm eastern time:
(Jul 23-15:21) mike: bad pattern, pop tht fizzles at
975,50-976.00 a sell
That was sweet. The ES popped to that zone, reaching
976.00 and reversed just 9 minutes later. The ES fell
7.50 points to 968.50 by the close. We scaled out in
thirds at 974.00 or better, 971.00 and carried partial
position marked-to-market at 969.00 overnight.
Good Trading,
Mike Reed
TradeStalker.com
up" until getting to 976.25 on the ES. I was until around
noon and got our members a good trade. After coming off
the double top at 976.50 on the ES, those in the IM "room"
got this quick post at 3:21pm eastern time:
(Jul 23-15:21) mike: bad pattern, pop tht fizzles at
975,50-976.00 a sell
That was sweet. The ES popped to that zone, reaching
976.00 and reversed just 9 minutes later. The ES fell
7.50 points to 968.50 by the close. We scaled out in
thirds at 974.00 or better, 971.00 and carried partial
position marked-to-market at 969.00 overnight.
Good Trading,
Mike Reed
TradeStalker.com
Wednesday, July 22, 2009
Today's Trading Recap: 07/22/09
HOW OUR DAY WENT: The ES opened 8.25 points lower on Wednesday and immediately reversed and ran to make a double top at 954.50 resistance. It set up a short that reached our 947.50-946.75target before reversing. After coming off the double top at 956.75, those in the IM "room" got this quick post:
(Jul 22-14:52) mike: 953.50-954.00 pivotal all day. early
dbl top, a low after breakout to the high, resist here
The ES rejected 954.25 about 8 minutes later, and it sold
off to 948.75 in 15 minutes, another nice quick trade.
That is just 2 of our trades, as there was a good deal
of info posted today, not to mention SEVEN intraday
updates.
Good Trading,
Mike Reed
TradeStalker.com
(Jul 22-14:52) mike: 953.50-954.00 pivotal all day. early
dbl top, a low after breakout to the high, resist here
The ES rejected 954.25 about 8 minutes later, and it sold
off to 948.75 in 15 minutes, another nice quick trade.
That is just 2 of our trades, as there was a good deal
of info posted today, not to mention SEVEN intraday
updates.
Good Trading,
Mike Reed
TradeStalker.com
Tuesday, July 21, 2009
Today's Trading Recap: 07/21/09
HOW OUR DAY WENT: We were shorting early strength and
the gap up open was reversed right from the open. Even
waiting for 950 to break for a trigger gave a decent
trade as the ES went right to our 945.00 support before
bouncing. That move also reversed 950, and gave a sell-
off to our 940.25-939.25 key area. The ES reversed from
a 939.50 low quickly, and after breaking 944 the move
changed dynamics. Members were given updated support
on the way up to the 947.75-948.00 new resistance zone.
The ES held 942.00 on a pullback then continued its
rally into the close.
Good Trading,
Mike Reed
TradeStalker.com
the gap up open was reversed right from the open. Even
waiting for 950 to break for a trigger gave a decent
trade as the ES went right to our 945.00 support before
bouncing. That move also reversed 950, and gave a sell-
off to our 940.25-939.25 key area. The ES reversed from
a 939.50 low quickly, and after breaking 944 the move
changed dynamics. Members were given updated support
on the way up to the 947.75-948.00 new resistance zone.
The ES held 942.00 on a pullback then continued its
rally into the close.
Good Trading,
Mike Reed
TradeStalker.com
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