Fri 7/26/2013. Mid-day Update.

The System was stopped out at 1680 and now has no position. 4hr resistance for a long entry is currently 1690.95 but could drop to 1686 or lower if SPX continues lower today. If SPX breaks below 1672, things have the potential to get more favorable to bears after the next bounce and sub-1655 (albeit unlikely right now) would really open up bearish possibilities. Unless that happens, new highs are probable soon. Good fortune.