Mon 8/13/12. Daily Updates.

Date-Time	Mon 8/13/12 11:30AM EST
Active SPX Trade	Short from 1399.55
System Score (S2)	5 = Trend Score + Turn Score = 10 - 5 = neutral
Trade Trigger (T2)	Stop out at 1415 which is 0.5% above the previous high.
Commentary	Max option pain is still rising and now at SPX 1368ish, so it may be at 1370+ by OPEX Friday. The various magnets at 1350-1370 and the recent SOS cluster make that area a reasonable target for Thu/Fri. Also, the SPX bull market has lagged consumer spending-induced tops by 20-23 weeks. The previous bear market saw 15-16 week lags, and that appeared to work in July at SPX 1375-1380 until SPX rallied to 1407 in August. This is week 20, so 1406/1407 could prove to be the top or SPX could rally through Labor Day using that metric alone. If you put the SOS, OPEX and spending data together, maybe SPX will drop to 1350-1370, rally back to 1400-1440 and then collapse in September. The other option that fits the puzzle would be an OPEX runaway rally to 1420-1440 and then a collapse probably starting in late August. To get any downside momentum short-term, SPX needs to break below 1395/1393 which is holding thus far today. Good luck.