Current SPX Position: None. Stopped out of long position 1555-->1562
Next Action: Stop at 1557.95 (subject to tweaking depending on Monday open)
System Score: 7.5=Bullish=Trend Score + Turn Score=6+1.5
Proposed New Score: 50%=Neutral=Trend Score + Turn Score=28+22
The System long position was stopped out at 1562, and one could have bumped up their stop to 1566 based on my comments yesterday. The New Score would have led the System to go short at 1556 since it is neutral there. The current Score is still mildly bullish. The New Score was designed to be a little more sensitive at turns. Let's watch to see if that's a good thing in this case. The System has no position for now but may be setup to go short on the next bounce especially if SPX can drop into the 1540s first. It's hard to ignore the potential 5th wave ETD of 5 larger waves from 1343. If so, it's not hard to fathom a 5% drop back towards 1500 in 3-6 days as I mentioned has often occurred in the last year. Based on discretionary spending, momentum etc, it seems likely that even if a large downtrend does start imminently, SPX is likely to make or retest highs into late April and possibly May/June. Good luck
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