Update 12pm Wed: System is short at 1391 with stop at 1411 for now.
Update 10PM EST: The Score remains a bearish 3, so the System will not go long on a resistance break. The scenario where the System becomes bullish after SPX trades down to the 1380s or 1370 is still a real strong possibility. A Fib 38-62% retrace of 1343-->1409 would be 1368-1384. Then, who knows, but, if the wheels don't come off before end of year, they probably will after another EDT finishes in the 1500s. March is usually a turning point for good or bad, and December will likely decide which it is. Either way, the System will be our guide. Good luck.
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Current SPX Position: None
Next Action: Go short at 1391.02 same as before
System Score: 3=Bearish=Trend Score + Turn Score=7-4
I did not post last night because I was busy and the System info did not change significantly. The System remains out of the market. However, it is possible that the System could turn neutral by the close of day. That would push the System into a long trade above 1409 and into a short trade below 1391. I plan to update this post later tonight once I have access to all my data. Good luck.
Update 10PM EST: The Score remains a bearish 3, so the System will not go long on a resistance break. The scenario where the System becomes bullish after SPX trades down to the 1380s or 1370 is still a real strong possibility. A Fib 38-62% retrace of 1343-->1409 would be 1368-1384. Then, who knows, but, if the wheels don't come off before end of year, they probably will after another EDT finishes in the 1500s. March is usually a turning point for good or bad, and December will likely decide which it is. Either way, the System will be our guide. Good luck.
_____________________________________________
Current SPX Position: None
Next Action: Go short at 1391.02 same as before
System Score: 3=Bearish=Trend Score + Turn Score=7-4
I did not post last night because I was busy and the System info did not change significantly. The System remains out of the market. However, it is possible that the System could turn neutral by the close of day. That would push the System into a long trade above 1409 and into a short trade below 1391. I plan to update this post later tonight once I have access to all my data. Good luck.
perhaps the system needs to be tweaked...the draw downs and stops are very wide...or is this how the system is planned....higher risk for higher reward? tks
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