Current SPX Position: None (would be long from 1519 but did not post enough detail in time)
Next Action: Short next 4hr support break (currently 1537.78) with stop at 4hr resistance
System Score: 4.5=Neutral=Trend Score + Turn Score=10-5.5
Proposed New Score: 52=Neutral=Trend Score + Turn Score=48+4
The Score could drop lower by mid-day, so the plan to short the next 4hr support break is still in tact. Even if SPX closes an hour or three higher this morning, that support level still won't rise beyond 1538-1541. Wednesday's consolidation usually leads to another small rally, so we may get whipsawed at 1538 but SPX appears to be technically setting up for a backtest of 1520-1530 whether it occurs now or after 1 more burst possibly thru the jobs report. The current SPX/Dow divergence around all-time highs would seem to be a dream setup for bears, but we'll take it 1 day at a time. Good luck.
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