Current SPX Position: Long at 1623.75
Next Action: Stop and go short at 1626.45
System Score: 4.5=Neutral=Trend Score + Turn Score=10-5.5
Proposed New Score: 50%=Neutral=Trend Score + Turn Score=48+2
The Score is almost bearish now. The stop-and-go-short level has been raised to 1626.45. It's quite extraordinary how many SOS (SellOnStrength) days there have been near 1600-1630 in recent weeks. That is one reason why I do not expect an explosion higher and a 2% grind is about as far as I've seen the market move higher on multiple signals. We're pretty much there. It is always followed by a correction back to where the signals started at a minimum and that's 1600ish. But, this is a HUGE cluster of signals and this is an extraordinary market. We should know next week if this is a franken-market or a bullish-but-normally-behaving market. Either way, the System is long and just waiting for a 4hr support break to try another short position. Good fortune.
trying to understand your terminology. Are you looking for a 4 hour candle to close below 1626.45 to go short?
ReplyDeleteThe System Review tab explains how to find 4hr support and resistance. 4hr support moved up to 1626.91 today.
ReplyDelete