(Update Thu 9/20/12 1:30PM EST)
Current Position: None
Next Action: Long at 1465.16
Score (0-10): 10=Bullish=Trend Score + Turn Score=10-0
The System's long trade was finally stopped out after days of sideways action. The result was 16pts in profit (1438-->1454) which makes the System profitable (a big whopping 4pts) in just over 1 month and 7 trades. I described some mitigating circumstances that could have made it much better, but we should have a very fair basis for assessment in another 2-3 months. If SPX rallies, the System will buy at 1465. If SPX falls, the System will probably just buy lower unless 1440ish becomes resistance. I personally expect a large downtrend imminently but we'll probably get a lower/higher high first to set up the technicals better. Good luck.
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Current Position: Long SPX 1438.75
Next Action: Stop at 1453.62
Score (0-10): 8=Bullish=Trend Score + Turn Score=10-2
Futures suggest the System may get stopped out of its long position this morning. If so, it will not go short nor open a new long trade until a bounce reaches 1365.16 (or lower with each hourly close lower). Also, any dip that holds past 10AM should actually push the Score back to 10+. But, I'd expect any breakdown to reach 1440ish support. I am out of pocket most of today. Good luck.
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