Current SPX Position: Long from 1592.65
Next Action: Stop and go short at 1586.72
System Score: 5=Neutral=Trend Score + Turn Score=10-5
Proposed New Score: 56%=Neutral=Trend Score + Turn Score=48+8
Although the System should be long from 1587.51, the 4hr resistance drop from 1592.64 to 1587.50 actually happened hours before my post on Friday. Unfortunately, I missed the skinny hourly doji candle and gave 5hr resistance as the long-entry point at that time. My mistake. Then, I compounded it by accidentally saying 1597 instead of 1593 as the long-entry point this morning when I had a tiny smartphone chart in front of me at lunch and was thinking of the previous high. Today's original post came after 1592.65 was triggered anyway, and I did correct it pretty quickly thanks to one of the blog members. In the grand scheme of things, the error is only 6pts and to the detriment of the System. I'll eat the error in terms of System performance, but these errors have happened a few times and will continue to happen occasionally, because I'm human, working a full-time job that keeps me away from PC charts many days and the System is not automated to any degree. By the end of 2013, I'd like to figure out a way to automate the Scoring, but I'd need hourly data feeds, not just charts. Any help is appreciated. I am guessing it is possible through one of the programmable trading tools, but I've amazingly not used any despite being a programmer and trading for about 8 years. The Score is neutral, so the System will trade long and short at 4hr s/r. Good fortune.
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