We are currently 100% long in our swing positions, but have stops at SPX 1258 level.

We are still 100% in cash in our core investment position.

The upward swing signal may have been a strong penultimate one that may have caught the momentum low but not the price low on SPX.

The structure is beginning to look ragged, so I wouldn't be surprised at a test of SPX 1250 sometime this week. This choppy market topping action is great for trading but is difficult when attempting to set in place an investment package.

There are time loci for Tuesday, Wednesday and Friday too. There has not been enough volume action to raise any of those loci to prominence through Monday's trading.

So we remain patient and will let our stops work.

As always, we will update on a break out if the narrow range. Breakouts from a range are often preceded by a false break in the opposite direction. We will watch for confirmation of such a break or fake.

Good Trading and God bless

W. B. Busin