The SPX declined 12.30 points yesterday to close at 865.99. The daily model correctly predicted a down day, and TOT daily traders liquidated their long position on the opening and moved aside.
Since initiation of this service on September 30, 1993, our daily trader recommendations have gained 7494.80 cumulative SPX points compared to a gain of 407.06 points in the index itself over the same period.
The super long term perspective for the stock market remains bearish.
The long term model remains neutral, and the short term model remains bullish – although not by much.
The directional component of the daily model is slightly bearish today, but the risk component is very high, moving the overall model to neutral. We will stand aside and let the dust settle a bit.
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