Quite an exciting week we had this week, with 4 out of 5 days bullish, taking us to all time new highs, and then came Friday with the employment report and things turned really and I mean really bearish. I have been talking about the negative divergence on the daily and weekly charts for several weeks now so I will spare you the lecture again, and as long as the daily trend line and last week’s low are not broken bulls are safe, but if they SPY will probably not stop before the weekly trend line.
The system is currently holding short positions on both intervals, for exact stop values you can look here.
For FREE updates in real time follow me on Twitter
To comment or post your own signals join me on Facebook