Tuesday, January 29, 2013

Tues 1/29/2013. Daily Update.

Yesterday, the System was stopped out of its 1502 long for a 4pt loss and went short at 1498. The Score is neutral and likely turning bullish today so the System will go long above 4hr resistance currently at 1503. If SPX completed a 3-day EDT to end a larger EDT, I'd expect a sharp breakdown below the recent 1489 pivot to retest the 1470-1475 breakout. Bears need the 1480s to become resistance to get the Score back in their favor. Otherwise, the beat goes on into February and the 1520s. Good luck.

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