4:08pm: A hold signal was indeed generated. Another buy signal was missed by less than 1 SPX point. Hind sight reveals the system would've been better off in something besides small caps, but you have to take the good with the bad.
Previous update: Had a feeling today would be another stinker, but that's the way it goes. Would like to see some strong buying kick in sooner than later, otherwise this could be a nasty correction. The system will produce a 2nd consecutive buy signal should we have either late day weakness that takes the SPX down back near 1270 or strength that lifts the index back above 1280. A 2nd buy signal for my system means to double down on the long position. Any value between 1270-80 will likely result in a hold signal.