Current SPX Position: Long from 1462.98
Next Action: Stop at 1489.89
System Score: 7=Bullish=Trend Score + Turn Score=10-3
The Score remains bullish, but the System will be stopped out if overnight futures persist. My favored scenario was 1 more 5-8pt pullback which we got followed by one more high in the 1490s which we got followed by a sizable pullback to 1470ish which is yet to be determined. Whether you call it unfortunate or not, if that scenario does play out, the System is still not setup for a short trade. And, I'm not even convinced a few more hours of rally will get the System in a neutral or bearish state. Maybe a failed rally below the 1470s or a failed rally with negd near 1500 would do the trick. Not sure. But the situation feels dangerous to me. Good luck.
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