The SPX advanced 16.44 points yesterday to close at 1097.43. TOT daily traders were on the sidelines for the session inasmuch as our entry level price was not reached.
The super long term perspective for the stock market remains bearish.
Both the long and short term models remain neutral.
Logically, the market should go down today. The President has warned of more terrorist attacks. Friday is the Moslem Sabbath and the potential for world wide riots exists. The market is overbought. The chart gap from the September 17 market reopening has been filled. Etc., etc. Nevertheless, the daily model is very solidly bullish today. TOT daily traders should go 400% long at SPX 1100 stop or 1092 limit or at the market at 10am, whichever of those three events occurs first. Use a 15 point protective sell stop. On the upside, if the SPX rises to 1121, take your profit. If still long on the close, carry your position over the weekend and into Monday.
Since initiation of this service on September 30, 1993, our daily trader recommendations have gained 6622.95 cumulative SPX points compared to a gain of 638.50 points in the index itself over the same period.
Have a great weekend, Thanks for calling, and I’ll speak with you again in 72 hours.