Current SPX Position: Short from 1586.16
Next Action: Stop and go long at 1550.90 with stop a couple points below 4hr
support (likely 1536)
System Score: 8=Bullish=Trend Score + Turn Score=3+5
Proposed New Score: 54%=Neutral=Trend Score + Turn Score=12+42
The System is prepared to go long once 4hr resistance is broken but remains short until then. A sizable bounce is normally due but things got so overstretched to the upside that who knows. A backtest of the 20dSMA area could setup the next short trade. Good luck.
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