The SPX advanced 2.02 points yesterday to close at 1121.53. TOT daily traders went 300% long at SPX 1122 and have held the position overnight and into today.
Since initiation of this service on September 30, 1993, our daily trader recommendations have gained 8308.73 cumulative SPX points compared to a gain of 662.56 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 model remains neutral. Assuming the current very minor rally stalls in the 1135 to 1140 range, as I expect it to, the long term model would likely deteriorate to bearish at that point. But for the time being, it remains neutral. The short term model remains bearish, the current minor rally notwithstanding.
The daily model is again bullish today. TOT daily traders come into today’s session 300% long. Maintain your sell stop at SPX 1112. On the upside, if the SPX gets to 1134.50, take your profit. If neither limit nor stop is reached, AND if EITHER the SPX OR the NYSE advance/decline ratio is positive on the day, carry your position overnight and into tomorrow. If both are negative, liquidate on the close.
The potential magnitude of an advance is relatively small at present, but the probability of that advance occurring is rather high.
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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