5:15pm: A buy signal was confirmed. Because the late downward surge took the SPX below the critical 1234 level, we did not get a strong buy signal. Thus, my current long position is pretty small at this point.
3pm: A buy signal will be confirmed if SPY closes below 126.59. This is almost a given based on today's action. Further, it is a strong buy signal if the follow 2 conditions are met.
1) SPY closes below 125.81
2) SPX does not drop below 1234
Obviously I would be more confident with the long position if we can get the strong buy, but #2 looks like it could be in jeopardy going into the last hour.
Either way, I will be closing my short position on the close and taking a relatively small long position. Too much uncertainty with the "EZ" to place a 50% bet in my opinion, although the system doesn't work that way.
See ya tomorrow!