Current SPX Position: No position
Next Action: Go long at 1707.64
System Score: 9=Bullish=Trend Score + Turn Score=10-1
Proposed New Score: 64%=Bullish=Trend Score + Turn Score=44+20
The Score is bullish. The System is still flat but ready to go long at the next 4hr resistance break currently at 1707.64. I gave many technical reasons for a low at 1680+/- this week but 2 more reasons include filling the gaps at 1688 and 1672. Also, the downleg thus far has been 1730-->1697/1695 and a matching 2nd leg down would currently be 1708-->1675/1672. It's just a strong technical target area if SPX breaks down one more time, and it would probably setup a decent short-term long trade. Good fortune.
No comments:
Post a Comment