Daily Recap: The last day of the quarter started with an imminent threat of shut down of the government and a gap down but continued with an attempt to bounce from it, that did not manage to close the gap. I started writing something about the shut down, but since this is a technical Blog I deleted it, and will just say that I find it hard to believe the US has reached this point.
On a different note the short 60 min reversal trade was closed today with a PROFIT of 1.03 points on SPY and provided a sweet closing to the quarter that was (again I might add) profitable and beat the market, but I will elaborate on that in the end of quarter entry I will publish soon.
Battle Plan for the 10/1/2013
Positive divergence is still piling up and as long as the market does not break down it will eventually have to be triggered
60 min long over 169.88
120 min long over 170.48
* Stop loss lines should be triggered if there is an interval close above them (i.e. 60 min or 120 min ), they are published in the daily blog and updated during trading hours on twitter.
* Take profit lines should be triggered immediately when crossed, they are usually issued during the trading day on twitter.
* Entry signals should be triggered when crossed, but take into account that until there is a confirmation (i.e. close of the interval across the entry signal) , the signal can become a reversal signal.
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