Fri 7/27/12. Daily Updates.

Date-Time	Fri 7/27/12 10:45AM EST
Active SPX Trade	None
System Score (S2)	10 = Trend Score + Turn Score = 10 + 0 = bullish
Trade Trigger (T2)	Stop at 1351.47 if long
Commentary	GDP and sentiment both slightly beat consensus expectations although both were at their worst levels in a long time. Negative earnings surprises are approaching 2008 extremes. It is quite obvious that the market is getting high off the anticipation of bond buying by the Fed and ECB. Sad, but true. Will we get our "fix"? Although I decided not to go long at 1357-1358 when the System was stopped out Thursday morning due to the excessively large gap up above T2 for which I have no rule yet, it turns out it would have been a profitable trade. SPX would likely need to maintain most of its 2-3 day gains for another couple days in order for the Turn Score to allow a short trade upon T2. Until then and possibly not until the August 1st FOMC announcement, there is a bullish bias. Good luck.