Another good day for the home team as the SPX advanced 8.76 points yesterday to close at 1150.57. TOT daily traders went a maximally bullish 500% long at SPX 1126 on Tuesday and took profits yesterday at SPX 1147.
Since initiation of this service on September 30, 1993, our daily trader recommendations have gained 8385.96 cumulative SPX points compared to a gain of 691.64 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 bullish.
Every bone in my body is telling me that the market is a great short sale here. However, the daily model is saying my bones are wrong. The daily model is modestly bullish today. I will never trade against the model (i.e.; shorting when the model is bullish or buying when the model is bearish), but I have no problem standing aside and waiting for a clearer picture. And that’s what I recommend. Purists, of course, may follow the daily model signal and go long, but officially, we will stand aside and await a fatter pitch.
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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