Daily Recap 9-25-2013

Daily Recap: Despite several attempts and end of the world premonitions SPY did not break down today and the positive divergence on the indicator held. However, the daily trend line was broken, which means the trend is down and although we may have a bounce the odds are that there is at least another lower leg ahead of us.

Battle Plan for the 26/9/2013;

Unless the market will break down tomorrow (a gap down for example) I believe a move up is due.

60 min long over 170.49

120 min long over 170.78

2013-09-25-End of day

* 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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