Wednesday, May 29, 2013

Wed 5/29/2013. Mid-day Update.

Current SPX Position: None
Next Action: Long at 1679.52
System Score: 10+=Bullish=Trend Score + Turn Score=9+2.5
Proposed New Score: 76%=Bullish=Trend Score + Turn Score=40+36

The Score remains bullish. The System remains flat but likely to go long once SPX closes an hour below 1638 and then breaks 4hr resistance. However, I suspect that will be a dead cat bounce and hopefully the System will then be setup to catch a large down move to 1600ish for starters and probably 1530-1550 in June/July. Good fortune.

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