Current SPX Position: Long from 1557.26
Next Action: Stop at 1548.23
System Score: 10+=Bullish=Trend Score + Turn Score=10+5
Proposed New Score: 96%=Bullish=Trend Score + Turn Score=48+48
The Score is nearly at its maximum level. The System is using a looser stop for its long position below recent pivots/closes. The Score is likely to remain bullish for at least 1-2 days. Although my EW leaves a lot to be desired, it sure looks like we are in a 5of5 from 1343 if you look at a daily chart. How that fits in the big picture likely depends on whether the next large pullback overlaps 1475 or not, but we don't know if the current wave up will truncate, fall short of 1576 or make new all-time highs. I am going on vacation late today, so my posts will be limited to none until Tuesday. If SPX rallies, the stop will gradually move towards 4hr support as indicators get overbought. If the System looks like it might be setting up for a short trade, I will try to post a quick blurb. Good luck.
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