The Score is now a bullish 6+. So, the stop on the current short trade is lowered to the hourly candle high just above 1414 where the System would also go long.
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Current SPX Position: Short from 1411.76
Next Action: Stop and go long at 1423.74
System Score: 5=Neutral=Trend Score + Turn Score=6-1
The last long trade was stopped out for a negligible 2pt loss, and the System is short from 1412. We are in a whipsaw period that I expect to be resolved with a 20-30+pt move starting or ending with the payroll data.
The System is now in a unique situation. When projecting the Score, it appears that another 5-10+ pt drop OR a rally to 1424+ will both turn the Score bullish. About the only thing that will turn the Score outright bearish is another failed 1-2 day rally whether it starts from 1410, 1400, 1390 or lower. So, the next trade is likely to be long, although you never know how long the current short ride will be. Good luck.
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Current SPX Position: Short from 1411.76
Next Action: Stop and go long at 1423.74
System Score: 5=Neutral=Trend Score + Turn Score=6-1
The last long trade was stopped out for a negligible 2pt loss, and the System is short from 1412. We are in a whipsaw period that I expect to be resolved with a 20-30+pt move starting or ending with the payroll data.
The System is now in a unique situation. When projecting the Score, it appears that another 5-10+ pt drop OR a rally to 1424+ will both turn the Score bullish. About the only thing that will turn the Score outright bearish is another failed 1-2 day rally whether it starts from 1410, 1400, 1390 or lower. So, the next trade is likely to be long, although you never know how long the current short ride will be. Good luck.
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