Active SPX Trade=None
T2=Long at 1409.33
S2=7=bullish=Trend Score + Turn Score=4+3
The trade trigger was missed by 2 pennies today as the long entry level dropped with today's new hourly low at 1397. If SPX rallies to 1409.33, it will exceed the 20dSMA and 89hEMA making S2 more bullish and triggering a System long. And, 1409+ would make the drop to 1397 look more like a triple zigzag correction than a leading diagonal downtrend. A rally proportional to those that occurred before the 1400 congestion wpuld be 50-60pts and, from 1397, that places SPX in the 1440s at a minimum and 1440-1450 has been an EDT target of mine (ending the entire ABC rally from 667 in March 2009) with an approach of 1500 only slightly possible in that pattern. And, my discretionary spending projection is entering the last week or so for a significant top right in front of the Apple, Fed and EU announcements in scary September. A drop below 1397 at this point would probably kill the bullish scenario, but the stars seem aligned for a top near 1450 by the end of next week. Good luck.
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