The SPX declined 5.42 points Friday to close at 1342.55. TOT daily traders were on the sidelines for the session.
The bond model remains neutral, and the gold model remains bearish.
The super long term perspective for the stock market remains bearish.
Both the long-term model (a six month perspective) and the short term model (a one month perspective) remain neutral.
The market failed the test on Friday and a sustained advance is unlikely right now. A modest selloff is likely. The daily model is bearish today. TOT daily traders should go 300% short at the market. Use a 15 point protective buy stop. If not stopped out, carry your position overnight and into tomorrow. However, if there’s a decent selloff today, there’s a preliminarily high probability that we’ll see at least a one day upside respite tomorrow.
Since initiation of this service on September 30, 1993, our daily trader recommendations have gained 6409.71 cumulative SPX points, compared to a gain of 883.62 points in the index itself over the same period.
Thanks for calling, and I’ll speak with you again in 24 hours.