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Shorted @ 1369.25, Stop @ 1384.00 Whatever news was announced, the market swung up and reversed massively. I recognize it as a serious threat and reversed short at this point. At least I could secure some 30 points from the previous trade. Total profit since beginning: $16,862.50

I pulled my stop up to 1351.75. Currently sitting on $2,000 unrealized gains which is a very handsome reward for two days and one click of a mouse button. :) mastacoli71, do you still have your stop at that trough?

Bought @ 1340.00, Stop @ 1326.75 The market is shifting back to an uptrend pattern in the 1H time frame. Stop is placed at the trough created prior to this strong upswing.

Here we go again. Amazing gains of that long position evaporate, leaving me with some remains. Nevertheless I am reaching all time highs in my account after this stopout. I'm now looking for a sensible entry to the short side. Total profit since beginning: $15,400

On a side note, here is my current assessment of the SPY.

Many thanks, Stok. There is actually one single source that expands on the Dow Theory in detail, and which highly correlates with my philosophy of markets: http://stockcharts.com/school/doku.php?id=chart_school:market_analysis:dow_theory The criticism therein (at the bottom) is...

Can you elaborate on it with an annotated chart? I don't see any relevance in them in the context of trend patterns according to the Dow Theory.

Interesting that you totally ignored the higher timeframes 4H D and W. They are tremendously helpful. I'm just saying.

Adjusted stop to 1351.50.

That was a weird move. Thankfully it created a striking needle to adjust my new stop to. I moved it higher to 1338.25, nearly eliminating my risk for this long trade.

That's an interesting remark, chrisjs87. Let me run through it quickly: Market First Quote Close 07/13/12 Points USD % 1180.25 1352.00 171.75 $8,587.50 14.55 Bombardier First Trade Points USD %...

Many thanks, vinc, will gladly do. @Humpy: Have you been able to capture the move? Although we went lower at first, your scenario posted earlier materialized.

Here is the updated performance plot.

Bought @ 1339, Stop @ 1329.50 Reversed at this level as the bulls took over and broke the downtrend channel drawn in an earlier post. Realized proceeds $125. Total profit since beginning: $14,775

Adjusted stop to the relevant peak in recent price action 1343.50 and sitting on about 20pt unrealized profits. Truly pleasing market activity :)

I notice the very same. What's vicious about those end of day rallies is that they appear quite potent indeed, but often fail to break any significant barriers to the upside. We then generally believe that the market would do so over night and open the next RTH session with a gap up. What...

Still in my short position since yesterday and sitting on around $450 unrealized profits. Very tiny and vulnerable for the time being, but let's see how the trend evolves. My current observations:

Shorted @ 1341.50, Stop @ 1357.50 I'm in a new short position after a very visible peak was created earlier (where the stop is placed at). A support basis broke at around 1343 which is why I took this opportunity.

Adjusted stop on my ES position to 1338. Gold is offering a very interesting setup which I want to take. Look at this:

Trading idea for Gold.