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