4pm: A rather dull afternoon of trading leads to another hold signal. Small caps took a much bigger hit than the SPX. Oh darn! :) It's about time. I'm still holding a huge TNA short position. I would like to see SPX hit 1320 before exiting my shorts. I think we can do it tomorrow. My short term upside target remains 1350-60...although this is just a stupid silly guess.
3:47pm: SPY close of 133.59 or higher will also trigger a buy signal. But it looks like neither will happen and we'll have another hold signal.
1:37pm: Now that the high and low of the day have probably been determined, the math can be done to predict the signal. A close equal to or lower than SPY 132.88 will trigger a buy signal. Anything higher and I will continue to hold shorts. Ok, time to head outside and enjoy the nice weather...
11:36am: Chances of a buy signal are getting better by the minute....
11:28am: There's about a 40% chance of a buy signal today. If not today, tomorrow may offer another good buying opportunity. Time will tell. I will update with the ending signal before the close.
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