The SPX advanced 3.89 points Friday to close at 1161.02. TOT daily traders went a maximally bullish 500% long at SPX 1146 this past Wednesday and have held the position since then and into today.

The super long term perspective for the stock market remains bearish.

Both the long term and short term models remain bullish.

Although the S&P advanced 1.4% on the week, more than 100% of the gains occurred in the first 1/2 hour of trading. Cumulatively, the 10am to 4pm time slot showed a small loss for the week. That’s not a good sign. We’re likely to see some more gains before this rally runs out of steam, but a day or two of consolidation is not only likely, but it would be healthy as well.

The daily model is neutral today, reflecting precisely that balance between positive momentum and weariness. TOT daily traders come into today’s session 500% long. Maintain the position but raise the stop significantly to SPX 1160. If not stopped out, carry your position over the holiday and into Wednesday.

Since initiation of this service on September 30, 1993, our daily trader recommendations have gained 6792.50 cumulative SPX points compared to a gain of 702.09 points in the index itself over the same period.

Have a safe New Year’s holiday Thanks for calling, and I’ll speak with you again in 48 hours.