The SPX declined 3.30 points yesterday to close at 1189.89. After closing out a comfortable profit on Wednesday, TOT daily traders were on the sidelines yesterday.
Since initiation of this service on September 30, 1993, our daily trader recommendations have gained 8479.31 cumulative SPX points compared to a gain of 730.96 points in the index itself over the same period.
The super long term perspective for the stock market remains bearish, and it’s unlikely anything will change that for several years.
Both the long and short term models remain bullish.
The pre-opening jobs data will likely have an impact on the market this morning, and that’s just one of many risk factors. The directional component of the daily model is bearish today, but the risk component of the model is sky-high, indicating great risk from any position. We will stand aside again and await a better risk/reward opportunity.
Have a great weekend, thanks for the opportunity to be of service, and I’ll email you again in 72 hours – or sooner if circumstances warrant.
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