The S&P 500 (SPX) advanced 2.67 points yesterday to close at 1206.58. TOT daily traders barely missed closing out our 400% long position at our target price, but instead were stopped out at a breakeven. We are currently flat.
Since initiation of this service on September 30, 1993, our daily trader recommendations have gained 8574.55 cumulative SPX points, compared to a gain of 747.65 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.
Both the long and short term models remain bearish.
The daily model is neutral today. Barring unexpected news, I’d envision the market having a very minor advance today, not significant enough or reliable (i.e., safe) enough to trade.
Although Turov on Timing deals only with the stock market, my bond model has just flashed a solid “buy signal” and I think “long bonds” is the best play for the short term. Please be advised that this is not a signal that I will necessarily follow-up on in this hotline, so if you do decide to go long bonds, make sure you use an appropriate trailing stop.
Unless the stock market has a massive slide today – which I clearly do not expect – the daily model is almost certain to be neutral again on Friday
Thanks for the opportunity to be of service, and I’ll email you again in 24 hours.
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