The chart has only been updated through Feb. 1, but you can see by the black bars (forecast) that today was scheduled to be a strong down day.
Not only that, but according to the model it offers up yet another opportunity to get long the index or strong components inside the index.
We have a tidy profit running on this one and we are considering adding to the position here.
If this is the path you choose to take, just make sure you play it safe and keep a close stop as if the model is going to continue down its accurate path then the low of today should really not be violated.
FORECAST - BLACK BARS
CURRENT MARKET - BLUE LINES