Current SPX Position: Long from 1410.53
Next Action: Stop (and probably go short) at 1416.73
System Score: 6=Bullish=Trend Score + Turn Score=9-3
The Score will almost certainly turn neutral or even bearish (4-5) if SPX drops below 1417 on Wednesday afternoon or Thursday. That would require the System to go short. The current rally may be the failed rally needed to setup the bearish case better. Ideally, SPX would make one more hourly close higher to increase 4hr support and lock in more profits for the current long trade. But, the Fed announcement and possible EDT pattern with some negd open up the possibility for a quick downdraft or one more pop-n-drop. Given the holidays and end-of-year approaching with anticipated Santa's rally and max option pain near 1405, I would not be surprised by some fluctuation above and below 1400 into the new year before the market makes a real big move into March one direction or the other. Good luck.
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