Current SPX Position: Long at 1661.82
Next Action: Stop and go short at 1665.09
System Score: 6=Bullish=Trend Score + Turn Score=9-3
Proposed New Score: 54%=Neutral=Trend Score + Turn Score=42+12
The System remains long. The Score is slightly bullish. However, the Score is likely to go neutral-to-bearish if SPX drops below 1666 on Tuesday or if SPX consolidates or makes a small rally for a couple hours. So, the System will go short at 4hr support assuming SPX does not rally too much more. A large rally would also turn the Score bearish but provide a bullish cushion above support to weather any 1% drop. The Friday SOS day tells me SPX will not rally much further before at least consolidating, but a bullish scenario could be a rally above 1680 with a successful retest of the 1650s +/-. Syria and the Fed and even the budget issue could provide a volatile Sep/Oct. Good fortune.
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