I still believe that the SPX is going to move sideways for ~10 days as it replicates the action in C1. This sideways move should be bound by NL? and ST-S1. If the SPX can tag ST-S1, I think a sufficient right shoulder will have formed to argue that a Head-and-shoulders Bottom (HSB) pattern will be confirmed with a break above NL?. This is the scenario that I'm currently operating under and therefore I'm looking to go 100% long with my accounts not managed by mechanical methods.
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Until canceled in this blog, my plan is to take that long position at the next close if the SPX is above ST-S1 and below 830 at my fund cutoff time. That does not look like it's going to occur today.
