Current SPX Position: None (Last short trade stopped 1602-->1622)
Next Action: Go short at 1606.17 or go long at 1626.62
System Score: 3=Bearish=Trend Score + Turn Score=3+0
Proposed New Score: 36%=Bearish=Trend Score + Turn Score=16+20
The Score is back to being bearish. The turn score has been fairly neutral while the trend score has been vascillating around the 1620 area. Hence, the System is setup to go both short or long depending on which s/r level is broken first. Due to today's rally, the turn score is actually more likely to turn more bearish than bullish barring a swift price drop. And, we got an SOS day with potential reversal on the first calendar day for the quarter. Thus the bearish technical edge remains but sideways action seems probable especially with the holiday and jobs number coming up. Perhaps, as my weekend chart showed, SPX will be intent on filling the gap around 1588, but I wouldn't expect too much more in either direction until at least Fri/Mon. Good fortune.
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