Battle Plan Progress 10-23-2013

3 PM: Last progress update of the day

Statistics shows that if the 120 min is not crossed by the end of day the odds for the 60 min short trade to be profitable are very bad, not saying that it can’t happen, just that the odds are against it and you should consider closing the position.

60 min stop signal over 174.89 – should be treated as an immediate stop

120 min short signal under 173.9

120 min long reversal signal over 175.81

2013-10-23-3 pm - update

12 PM: The 120 min trend line was not crossed yet and we are seeing a rebound so not sure where this is going. Just to be careful and minimize risk I am going to set the 60 min stop signal to high of day

60 min stop signal over 174.89 – should be treated as an immediate stop

120 min short signal under 173.9

120 min long reversal signal over 175.81

2013-10-23-12 pm - update

11 AM: Hectic morning, SPY took my worst case scenario and decided to gap down this morning, so the long position was closed at the open with a minor loss of 0.1 points. Meantime the strong morning decline triggered the 60 min short signal and also confirmed it so:

60 min stop loss signal over 175.71

120 min short signal under 173.9

Since we got very close to the 120 trend line but did not break it there is a reversal signal

120 min long reversal signal over 175.81

2013-10-23-11 am - update