Today's Trading Recap: 07/24/09

HOW OUR DAY WENT:
After the early action, members were
told that the 968-969 area was a good resistance area.
The ES popped up to 968 and backed off to a 962.50 low
(right at the 963.00-962.50 initial support) and turned
back up. After a good bounce off of support, the 968.75
level was given as new support and after direct hit on
that level held, it lead to a nice pop to 975.00. It
looked like a top, but I was wrong about that as buying
started with 30 minutes left and the move ended the week
at its highs. Still, a good short early and then nailing
the 962.50 low and a couple other trades made it a good day.

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)

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