Current Position: Short at 1456.48
Next Action: Stop and go long at 1434.43
Score (0-10): 7=Bullish=Trend Score + Turn Score=3+4
The System is still short, but the Score has turned bullish. So, the System will go long if stopped out at 1434.43. I tend to think there will be a lower hourly close soon even if SPX manages to retest 1420-1430, because half of my 15min indicators are approaching neutral. That would give us a better long entry point and stop. Given how System technicals normally operate, the most bearish scenario I can envision is a test of the 1390s (possibly with a 1420-1430 rally first) followed by a failed retest of the 1430s possibly around the elections and then 1370ish or lower. Until then, we enjoy the ride. Good luck.
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