Current SPX Position: Long at 1631.82
Next Action: Stop at 1645.16
System Score: 7.5=Bullish=Trend Score + Turn Score=10-2.5
Proposed New Score: 64%=Bullish=Trend Score + Turn Score=48+16
Surprisingly, the Score got more bullish despite the rally. Without giving away how I score things, that can happen sometimes and I could catch those situations better if I took longer to study the indicators each night, but I don't and won't on a regular basis. It's something to look forward to with greater automation someday. Tonight, I did take a deeper peek and the technical tide will likely turn neutral again over the next 1-2 days as long as SPX does not drop much. It's tough to say how much SPX can gain in the meantime, but my discretionary spending indicator is now in its sweet spot (May 13 to May 31) for an 8-10% top and the SOS cluster grows. Based on that evidence, weak seasonality, a long-in-the-tooth rally/cycle and a potentially fulfilled Jaws pattern, I believe a significant top is now imminent. Good fortune.
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