Current SPX Position: Long at 1503.27
Next Action: Stop at 1498.08
System Score: 10+=Neutral=Trend Score + Turn Score=10+3
I tend to agree with Tony Caldaro's analysis tonight; SPX has either topped at 1510 after a triangle fakeout breakout or has one more surge left to the 1520s. The problem is that the Score is crazy bullish right now even if I were using the 2 new indicators I am testing. So, the System will not likely be going short unless SPX gets overbought on another rally or turns the 1480s into resistance on a dead-cat bounce most likely from the 1470ish breakout area. I suspect a huge 120-220pt 3-6 week drop is coming but it's a losing deal to trade that way until price and technicals prove it. Good luck.
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