Hi All,

SPY rallied towards the monthly 5 period moving average and flatly REJECTED AGAIN off the 202.73, which was also the last swing high intraday.  The 60 minute mini pup may try to test again unless it rolls over at 201.70.  We scaled into PEP SHORT at 94.83avg as we missed two potential exits expecting a breakdown at 94.50 and 94.70 and ended up stopping out at 95.05 on the defensive sprawl scale, out - .22.  This was a good lesson on scaling and taking stops as frustrating as it can feel when the position was in the green at one point.  PEP eventually formed a perfect storm breakout towards 95.90s.  We hit TWTR SHORT at 37.92avg to scale out 37.83 and 37.92, out + .19 and even to make back the green.  We re-entered TWTR SHORT again to scale in at 37.91avg with intent to make an add the 37.27 fib area.  The 15 minute stochastics crossed up off low bands and 5 minute was trying to pup as a laggard.  We used the reversions to stop out at 37.97 and 37.94, out - .06 and - .03, a well managed stop.  We tried one more time on TWTR SHORT at 37.92avg to scalp 37.89 and 37.95, out + .03 and - .03 for a wash.  Interestingly, the SPY rallied all the way to 202.72 (monthly 5 period ma resistance) and TWTR couldn't hold above 38.10 which clued us in on the HEAVY OVERHANG sellfade.  The SPY rejected and sold back down on that algo sweet as TWTR sellfade continued.  We took TWTR SHORT for a 4th attempt at 37.96avg, BUT this time the 5 minute was starting to form a consolidation breakdown and the MAIN BOSS 15 minute stochastics were crossing down with the inverse pup breakdown to ALIGN with the 60 minute stochastics down for a 3 lane perfect storm breakdown!  We scaled out at 37.84, 37.76 and 37.71, out + .12, + .20 and + .25 to bring us back to green.  Very tough morning in a dry climate.  Carved out + $220 profits.