The SPX advanced 2.67 points yesterday to close at 982.82. TOT daily traders went 500% short on the opening and have carried the position overnight and into today.
Since initiation of this service on September 30, 1993, our daily trader recommendations have gained 7757.36 cumulative SPX points compared to a gain of 523.89 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 bearish again today. Hopefully, we will see a repeat of yesterday morning’s action, without a repeat of yesterday afternoon’s! TOT daily traders come into today’s session a maximally bearish 500% short. Use a stop at SPX 995, although if I see any positive divergence on the intraday model (I did not yesterday) I may tighten that. If not stopped out, carry your position overnight and into tomorrow.
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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