Daily Recap: SPY started with a gap down this morning as expected and kept going down till around 12 when it started climbing back up, At 2 pm with the FED protocols publications it jumped higher but later came crashing back down when people actually read what was published.
The system is starting to see a positive divergence on multiple levels, which probably means we should see some sort of a reversal to the upside soon. The 120 min short position is still open but the system signaled a 120 min long signal today (see tweeter and Daily battle plan) and if there is a new low tomorrow it will probably issue a 60 min long signal too.
Battle Plan for the 8/22/2013
120 min interval Stop Loss and Long Entry over 166.28 on SPY
* Stop loss lines should be triggered if there is an interval close above them (i.e. 60 min or 120 min ), they are published in the daily blog and updated during trading hours on twitter.
* Take profit lines should be triggered immediately when crossed, they are usually issued during the trading day on twitter.
* Entry signals should be triggered when crossed, but take into account that until there is a confirmation (i.e. close of the interval across the entry signal) , the signal can become a reversal signal.
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