Daily Recap 5-29-2014

SPY continued up yesterday and the long reversal position made some money (thank you for asking). It may be that the slightly red Wednesday was the consolidation phase I was writing about, on the other hand the system issued short signals in the short run and things are getting a bit oversold again so we probably are facing a bigger correction. However, as far as I can tell even if a correction comes, SPY still has at least another push up, before we can start talking again about bearish scenarios.

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2014-5-29 Daily

Daily Recap 05-28-2014

Not sure if the retrace I wrote about yesterday has already begun or do we have another push higher in the make. Guess we’ll just have to wait and see. The system does indicate a possible short trade in the making. For exact entry and exit points go here

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2014-5-28 Daily