Current Position: Long from 1388.93
Next Action: Stop at 1373.02 (or lower if the Score becomes bullish by then)
Score (0-10): 5=Neutral=Trend Score + Turn Score=1+4
SPX closed lower at 10AM by 12 pennies, thereby lowering the System stop to 1389 from 1392 and pushing the System into a long position today. The previous short trade profited nearly 3% without consideration for profit-taking and reloading. Over the next couple days, I essentially expect SPX to consolidate and/or rally, so 1370ish should be support and 1400ish, 1425ish and 1440ish should be resistance. Regardless, we will play the cards we are dealt. Good luck.
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