Current SPX Position: Long at 1503
Next Action: Stop at 1504.70
System Score: 10+=Bullish=Trend Score + Turn Score=10+2
The Score remains very bullish but another 1-2% rally could change that. I raised the stop to 1505 (4hr support) at risk of getting whipsawed again, but a retest of 1495 is possible and that's too many points to put at risk after 2 days of consolidation at 1505-1515. Plus, we could re-enter long at 1512 or lower anyway even if 1506 is broken and then SPX rallies. Good luck.
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Current SPX Position: Long at 1503
Next Action: Stop at 1495
System Score: 10+=Bullish=Trend Score + Turn Score=10+2
The Score remains very bullish. I'm prepared to move the stop up near 1505 if SPX rallies back to 1515+. Today is a BOW day thus far, and closing that way would add to the bullish case for the next 1-3 days at least. Based on typical indicator behavior, it appears 1500ish will become the bull-bear battle zone if SPX rallies to the 1520s or 1530s and then pulls back. Good luck.
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