Current SPX Position: Long from 1410.53
Next Action: Stop and go short at 1410.04
System Score: 7=Bullish=Trend Score + Turn Score=9-2
The Score will turn neutral around 1410 if reached today, but 4hr support, which is used for stops and reversals, is currently 1414 . So, technically, the System should not stop out and go short until SPX falls below 1410, but it is tempting to anticipate a downtrend at 1414 with a fairly tight stop above at 1424. For now, the market continues to creep higher and the System stays long while support is not breached. If SPX actually shoots much higher from here, the Score could get more bullish in which case the stop will be loosened well below 4hr support. I see a possible EDT completing from 1377 which would allow for a brief poke above 1424 (although we've already had an hourly close above the old high which is good enough) followed by a drop back to the 1370s or 1380s over a week. Good luck.
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