The SPX advanced 5.77 points Friday to close at 1134.61. TOT daily traders were on the sidelines for the session.
Since initiation of this service on September 30, 1993, our daily trader recommendations have gained 8359.56 cumulative SPX points compared to a gain of 675.68 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.
The long model remains neutral, and the short term model remains bearish.
The daily model is bearish today. TOT daily traders are advised to go 300% short at SPX 1138 limit or SPX 1133 stop, whichever comes first. If you go short, use a 10 point protective buy stop on your position. If not stopped out, carry your position overnight and into tomorrow. It is a mathematical impossibility for the daily model to be bullish tomorrow; it must be either neutral or bearish.
Finally, my prediction of the week: I logged into yahoo.finance on Saturday morning and came across the following story headline, taken from CBS.MarketWatch.com: “U.S. stocks face another listless week.” Under my personal theory that the news media is about as correct in their opinions (when they report those opinions as news) as are the baseball or football prognosticators at the beginning of the season, I predict (using Microsoft Word’s antonym finder for “listless”) an “energetic” week. We shall see.
Thanks for the opportunity to be of service, and I’ll email you again in 24 hours – or sooner if circumstances warrant.
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