Current Position: Long at 1418
Next Action: Stop at 1395
Score (0-10): 6=Bullish=Trend Score + Turn Score=2+4
Happy Halloween! At 3PM today, the Score is likely to turn neutral unless SPX can get to 1419+, and it is likely to fall further to a bearish 4 at 10AM Thursday if SPX is not above 1419 and a neutral 5 even if it is. So, the System is expected to tighten the stop to 1405.80 and go short at that level after 3PM. Obviously, the stop would move up if SPX decides to rally, but it ain't looking good. I will try to update this post after Halloween trick-or-treating with the kids...
Well, the System Score managed to remain at 5.5 and I usually round up, so the Score is narrowly bullish and I will leave the current stop at 1395. But, this is very borderline. At 10AM, the Score will drop to 5 unless SPX exceeds 1418. At 2PM, the Score will drop another point unless SPX reaches 1430ish. So, although I thought I'd be able to raise the stop by close of Wednesday, it will have to wait until at least 10AM Thursday. A drop below 1405 after 10AM would get the System short. There is a lot of economic news today that could change the picture. Good luck.
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