Daily Recap 6-5-2014

Bull sentiment is very strong and does not seem to let the market correct in any significant way. Looks like we are heading to the upper trend line (see chart below) and maybe cross it again. Things are very overbought, but the past taught us they can always get a little more extreme.

In the meantime the system is making money on reversal trades, every time SPY gets near the 60 min trend line (see details here).

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2014-6-5 Daily