Daily Recap 3-13-2014 – Will the Daily Trend Line Hold?

The bears have so far fulfilled the bearish scenario I posted on the weekend , and today’s decline came very very close to the daily trend line before bouncing to close a bit higher. It remains to be seen if the bulls can muster a defense and hold the daily trend line otherwise the next obvious stop points are the bottom of the channel or the weekly trend line both far below us.

The system signaled this morning of a potential 60 min reversal short trade which was triggered later in the day and is currently very profitable. You can read about the trade and stop points here.

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2014-3-13 -Daily

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