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The weekly trend line that started on the first week of 2013 has broken this week signalling in my opinion a change in trend. The last couple of times this happened it was a minor correction that mainly moved sideways so if third time is a charm it will stop around the 180 on SPY but chances are we are heading into a larger correction that will see SPY decline to 160 or if things get worse to 140 before turning back up again.
The good news are the system is making money even in down trends and if past performance is an indication will continue to do so. The system is currently neutral and waiting for a bounce or reversal to issue a signal. I will as usual try and update on twitter or on this site as soon as I can.
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