The SPX advanced 22.42 points yesterday to close at 880.90. TOT daily traders went 200% long on the opening and took profits on the position at SPX 877.
Since initiation of this service on September 30, 1993, our daily trader recommendations have gained 7501.91 cumulative SPX points compared to a gain of 421.97 points in the index 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 bearish – albeit by the narrowest of margins.
In the absence of new developments from Iraq, the market is likely to stall here for awhile. How it trades during the stall should prove valuable insight into which direction it might go after the respite from its recent advance is over. Of course, anything substantive from the war front will override any technical considerations. In any event, for today, stand aside.
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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