Update 1/3/13 2PM EST: Stop raised to 1459.71. Would re-enter long at new high. Jobs data tomorrow. Could mark a short-term high even if it causes 1 more surge.
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Current SPX Position: Long at 1413.21
Next Action: Stop at 1449.36
System Score: 9=Bullish=Trend Score + Turn Score=9+0
I was off site without internet access today, but there was little doubt that the System would just stay long with the ramp job. The System caught lightning in a bottle the last 2 trading days. I suppose the market is being boosted by people taking off all the protection they bought at end of year. QE3 and QE4 faded after a few days, and it would be a bad sign if the fiscal cliff resolution does the same thing. Due to the Score, I don't expect any sudden reversal and, even if the System is stopped out, I expect the next trade to be long again. Good luck.
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