Current Position: None
Next Action: Short at 1351.05
Score (0-10): 4=Bearish=Trend Score + Turn Score=1+3
The last short trade from 1371 was stopped out at 1358 for 13pts of profit. The Score remains bearish and is unlikely to turn bullish unless SPX reaches 1390+. So, the next trade is likely to be short. Today's SPX reversal (AAPL did so on humongous volume) along with reasons I described yesterday offer plenty of ammunition for a retest of the 200dSMA (1382 +/-) and possibly even 1400-1420 over the next 2 weeks or so. But, the System does not rely on projections. The Score is bearish, so the System will short support breaks. All these retailers moving Black Friday sales up to Thursday 9PM, 8PM, 6PM and even all week long is possibly a sign of desperation but more so a sad sign of growing holiday commercialism and the erosion of family. Good luck.
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