Need a Formula Tracks the Number of Times a Value Appears

Hello,
I need help creating formula that looks back at previous values and totals up the number of times certain values appear.

BREAKDOWN
The columns used are A, B, and C

Column A: contains X’s (which indicate the start of a new day) and 120 (which indicate the start of a new 120 minute period every 8 cells).

Column B: contains predetermined values either (Neutral, A Up, C Up, A Down, or C Down)
The formula needs to track every time the all times Non-Neutral values appear.

Column C: is where the formula would reside.

RULES FOR FORMULA
1. If the value in column B equals Neutral then the value in column C equals Neutral. No matter what took place previously.

2. If all previous "120" cells are Neutral and the current cells value is anything other than Neutral the result is the current value and 1.1

3. If a succession of values that are all the same and are not "NOT" Neutral then each 120 point will increase its number value by point one (.1).

4. If a Neutral value separates any Non-Neutral value then each 120 point will increase its number value by one (1).

Please see spreadsheet for a better understanding.

Any and all help you could provide for any of the formulas would be greatly appreciated. Thank you.