The SPX declined 10.64 points Friday to close at 1086.20. 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 8312.65 cumulative SPX points compared to a gain of 627.27 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 term model remains bearish, and the short term model remains ever so slightly bullish.
The daily model is bearish today. I wish that weren’t the case, as I really hate shorting into weakness. Nevertheless, the reading is pretty clear. However, I’m going to hold off with a recommendation right now, since I want to see how my intraday model acts during the first hour of trading today. I’ll therefore have an intraday update at 10:45 a.m. Eastern time with additional comments and perhaps a recommendation.
Thanks for the opportunity to be of service, and I’ll email you again in a few hours – or sooner if circumstances warrant.
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