Thu 2/28/2013. Daily Update.

Current SPX Position: None. Previous long stopped out 1514-->1515.
Next Action: Go short at 1501.95 1498.10 before 1PM OR go short 1 penny below the 20dSMA after 2PM OR go long at 1525.35 anytime.
System Score: 9=Bullish=Trend Score + Turn Score=9+0

I miscalculated when I said the Score would turn neutral at the 20dSMA due to eyeballing my cell phone screen. The Score did drop 1pt at 3PM but not enough. Luckily, the late day drop did not quite get to the 20dSMA anyway, but the System did get stopped out for a 1pt gain at 1515. I updated the Trade History tab. It will actually take SPX 1501.95 1498.10 to turn the Score neutral until 1-2PM Friday, but after that it will only take getting 1 penny under the 20dSMA. I won't explain my proprietary scoring, but suffice it to say the scoring is time-, price- and indicator-sensitive. It has not changed since August. The Score will almost certainly turn neutral-bearish after 2PM Friday and possibly neutral-bearish at 1PM and potentially even sooner if SPX retests 1525 Friday morning only to reverse lower again.

The ideal scenario would be for SPX to stay at 1510-1525 until 1-2PM Friday, because the System would get a clear-cut short signal likely at 1512-1515 which isn't far from the 1526 top and is well above the projected downtrend low overlapping 1475. Good luck.