Friday, July 12, 2013

Fri 7/12/2013. Daily Update.

Current SPX Position: None
Next Action: Go short at 1672.32
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 did not change but is likely to become slightly bullish by end of Monday unless SPX rallies hard. So, even if SPX does not rally further, a 1-2% dip or 1-2 day consolidation is likely to be bought for the time being. ES futures did drop after hours back near even and not far above the new go-short level. Quite a few negative divergences have developed. Good fortune.

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