Explanation of Trade Entry and Close of Trade

Entered the short position for several reasons:

1. 15-min Accumulation/Distribution (A/D) Line: showed a bearish divergence -- higher closing price on SPY was NOT matched by a higher A/D Line value
2. 5-min chart, % D Fast Stochastic (% K Interval: 30, %D Interval: 6) hit a reading of 90, which is "overbought" short term
3. 5-min chart, % D Fast Stochastic for SPY > % D Fast Stochastic for IYT (Dow Transport ETF, a good leading indicator of market direction). This is a bearish divergence.
4. NYSE TRIN Index Stochastic > SDS (inverse bearish ETF on SPY). This is a bearish divergence for SPY.

Covered for the following reason:

1. As market traded off, TRIN Index Stochastic did not move with the sell off...that is a bullish divergence, short-term.
2. TRIN Index MACD Histogram readings continue to decline, which is bullish for SPY

Conclusion: Turned into a very short term, but easy, profitable trade...will never go broke taking a profit!