Current SPX Position: Short at 1659.89 (Last long closed 1655-->1660)
Next Action: Stop and go long at 1670
System Score: 2=Bearish=Trend Score + Turn Score=3-1
Proposed New Score: 26%=Bearish=Trend Score + Turn Score=12+14
The Scores are bearish. The System turned short on the 4hr support break as planned. After further review, a wave 4 at 1639-->1670 is still a possible count, because I had forgotten to extend the RSI length to account for the extra days of the downtrend in the Dow. Now, the RSI for the proposed wave 4 and 2 match. Regardless, I think more downside SPX action is warranted, but it is possible that Caldaro's 1628 pivot area will hold prior to a wave B/2 bounce back to 1660-1670. Good fortune.
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