Current SPX Position: Long from 1555.32
Next Action: Stop at 1551.89
System Score: 10+=Bullish=Trend Score + Turn Score=10+1
Proposed New Score: 76%=Bullish=Trend Score + Turn Score=48+28
Sorry for the delay in posting. I returned from vacation Tuesday as warned and immediately had to deal with a personal situation. Fortunately, there has not been much movement in SPX. The System went long at 1555 on Thursday as planned. With the Score being near its maximum bullishness at the time (it is still very bullish), the stop would be placed up to 1% below 4hr support at a meaningful pivot or approximately 0.5% below if no such pivot existed. In this particular case, SPX has been triangulating upward with pivots at 1539, 1544, 1546 and 1552 where the stop now resides. So, the System has stayed long. The Turn indicators are not that far from going very bullish or very bearish meaning that the next 10-15pt move should get pressured to reverse. However, the Trend Score is now coming into play for the first time since late February. Key moving averages have moved up to 1550+. Any dip below 1550 would likely change the Trend Score to neutral or bearish while the Turn Score goes bullish leading to an overall barely bullish Score, but it's going to be close. There is a potential setup for a short at 1550 or more likely the subsequent bounce. Obviously, a continued rally is also very possible as the Score is very bullish with SPX having consolidated for 2+ weeks. Good luck.
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