(Update Wed 9/5/12 5:55PM EST)
SSDD. 2% range for 5 weeks! The ECB announcement tomorrow has a good chance of changing that, and, if that doesn't do it, then certainly the jobs report, ISM, Fed, Apple or German courts will. Buckle up!
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Active SPX Trade=None
T2=Long at 1409.33
S2=7=bullish=Trend Score + Turn Score=4+2
Intraday, the System Score is about to rise back to 7 again due to a couple oversold hourly indicators, but SPX needs a close above 1401 to keep S2 solidly bullish versus the current weak bull score. There is a chance for another test of 1396ish to complete a c-wave EDT from 1427 followed by a rally to 1440-1450, but a breakdown to 1390 would likely lead to a small amount of further downside pressure and then muddle through the Fed/Apple events. The System will still go long at 1409.33 unless 1397 is closed below on an hourly basis. Good luck.
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