Here is this weeks HPS watch list, Due to the closing price and set up in the S&P I have taken on some short positions. The market has not officially broken down but we are on an important line (trend). We could bounce from here early next week or break down, I focus on HPS set ups this is when we have the highest probability odds of a directional move based on a series of indicators. Those indicators are rolling over and are set up to break down. We have one major trend line that we are on right now that could bounce us back up. I am scaling back on size of position and adding for shorts to hedge against a break down. But overall I would stress caution and look for some volatile moves early in the week. I will concentrating on more scalps next week until I see a clearer picture.

Watch List video is posted and so are charts, There will be more set up added tot the HPS site as they appear early next week so watch for those alerts to be sent out as a "New HPS alert has been added" when you see that in email then look for the set up on the HPS portion of the site.

HPS Video link http://daytradingradio.com/10for1000

DTRS

Great Show on Friday with RPM and Guests everyone did a great job