Daily Recap 4-8-2014

I am travelling this week so my updates are sporadic, but I will try and write as much as I can.

The daily trend line was broken on Monday, which if you are reading my weekend reports is a bearish sign, and I believe the next target is the weekly trend line, but it’s going to take some time. SPY bounced yesterday and may try for the middle of the Bollinger Bands but I believe we should see another leg down soon.

The system is doing great, it caught the downturn just in time on both intervals. The 60 min short position was closed yesterday with a profit of 3.4 points and the 120 min short is still open. For exact stop points you can read here

2014-4-8 Daily