The SPX advanced 7.31 points yesterday to close at 1215.02. TOT daily traders went 300% short at 1207 and placed a stop basis the cash index at 1215. It wasn’t until the runoff was over at about 4:05 that it became apparent that 1215 was reached.
The super long term perspective for the stock market remains bearish.
The long term model remain bullish, and the short term model remains neutral.
The daily model is bearish today. TOT daily traders should reshort 300% at the market. Use a fairly close protective stop at SPX 1220. If not stopped out, carry your position over the weekend and into Monday.
Since initiation of this service on September 30, 1993, our daily trader recommendations have gained 6411.75 cumulative SPX points compared to a gain of 741.47 points in the index itself over the same period.
Have a great weekend, Thanks for calling, and I’ll speak with you in 72 hours.