3:50pm: Hold confirmed. Still unhealthy and still holding shorts... So far, so good. Should be more downside to follow.
1:45pm: As I alluded to yesterday, a green SPY finish will flip the system back to healthy status. Interestingly though, we could still get a short signal today despite the flip. Indeed, we could get a relatively rare healthy short signal which would put the system all in short - 100%. For this to happen, the high of the day (SPX 1298.61) would have to remain unchanged, and SPY would have to finish at 129.68 or higher. If the high of the day is exceeded, the required SPY value would change. With FOMC minutes expected after 2pm things could change quickly. So as usual look for a late day update.
Also, be on the lookout tomorrow (Thurs) for a post on the inner workings of my system, as requested. I won't get too much into the details, but at least you'll understand what the heck is going on.