Current SPX Position: Short at 1678.63
Next Action: Stop-n-go-long at 1680.14
System Score: 5=Neutral=Trend Score + Turn Score=10-5
Proposed New Score: 52%=Neutral=Trend Score + Turn Score=48+4
The Score remains neutral. A long trade was triggered at the new SPX high stopping out the last short trade 1680.14-->1684.51. However, just like occurred last Wednesday at the 1648 low, Dow did not confirm the SPX 4hr s/r break. Based on Dow candles, the System would have remained short. Instead, we got more whipsaw with the tightness of candles. The System stopped out of its long trade and went short again at 1678.63. Although I did not post the latter trade in advance since it was the 2nd trade of the day, the Score was known to be neutral which leads to trading both ways, 4hr support was breached as defined, the trigger occurred in the last hour and then SPX closed more than 2pts above that level, so I decided to count it for better or worse. Trade history has been updated. The System is on a losing streak, but using Dow non-confirmation may have prevented both recent whipsaws. Regardless, more whipsaw is possible with 4hr resistance not far above. It also won't take much of a drop to get the Score very bullish, so I still expect the next 1-2%+ dip to be bought. Good fortune.
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