Daily Recap 11-21-2013 – Gap and Go

Daily Recap: We had a gap and go day today, SPY opened with a gap up and just kept on going up, stopping the 60 min short reversal position, breaking the 60 min trend line and coming very close to breaking the 120 min trend line. Tomorrow will tell if the bulls have enough stamina left to break the 120 min trend line or are the bears going to take SPY down in a reversal pattern.

Battle Plan for the 11/22/2013

120 min short reversal signal under 179.38

2013-11-21-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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Weekly Recap 10-25-2013 – All trend lines support bulls

Weekly Recap: SPY continued its climb this week and although it was a weaker advance than last week SPY still made new all time highs and crossed the upper wedge trendline. All trend lines support the bullish case, and a continuation of the move up is the most likely scenario.

We are on the brink of a decision point (another one sheeeshhh), either SPY turns around in the next several days for at least a minor retrace/consolidation giving the bears some hope that this was just an overshot over the wedge line and this rally is almost over, otherwise another couple of green days and I am pretty sure we can say the bulls will be running the game for the next couple of months and any retrace we shall see (probably to check the broken wedge line) should be bought.

2013-10-25- Weekly

In the short term ,the bulls broke the 60 min trend line on the last hour Friday, so now all trend lines support the bullish scenario again. The possible inverse Head and Shoulders pattern I twitted about during trade hours Friday may very well manifest fully with a target around 177.5. The last hope the bulls have is the negative divergence on the 120 min, so if the 60 min will create one too we may see a correction, otherwise the direction is up

Battle Plan for the 10-28-2013

120 min short signal under 174.74

2013-10-25 -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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Daily Recap 10-23-2013 – Mantra 4 is at the Door

Daily Recap: The scenario I was least looking forwards to yesterday materialized this morning when SPY opened with a gap lower, forcing the 60 min reversal long position I held overnight to close. The strong downward movement continued for a couple of hours triggering and confirming the 60 min short, but staying shy of triggering the 120 min short. Afterwards SPY slowly regained a large part of the lost ground in what looks like and overlapping movement, leading me to invoke mantra #4 – if it ain’t with you it’s against you

It is very significant that the 60 min short was triggered but SPY failed to trigger the 120 min short, from what I can see if the 120 min is not triggered within 3 bars (6 hours) of the 60 min triggering, it is very likely the 60 min will fail. All I could find was one example to the contrary, so with the crazy gaps we get these days I decided to minimize the risk and exit at end of day, if the market decides to continue downwards I still have the 120 min short signal. Mind you, this is a statistical rule and every rule has its exceptions so maybe I am wrong and tomorrow we gap down.

Battle Plan for the 10-24-2013

120 min short signal under 173.9

120 min long reversal signal over 175.81

2013-10-23-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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