Current Position: Long SPX 1438.75
Next Action: Stop and go short at 1453.62
Score (0-10): 5=Neutral=Trend Score + Turn Score=10-5
The Score is expected to turn bullish by end of day unless the market tanks 10-20pts because the overbought indicators are being worked off in stair-step fashion as has happened during most of the uptrend from 1267. If SPX has not dropped below 1454 by eod, the stop might be lowered but certainly the short trade setup will be eliminated. That wouldn't preclude a pullback afterward but would keep us from joining it on the short side. Good luck.
No comments:
Post a Comment