The S&P 500 (SPX) declined 2.99 points yesterday to close at 1262.09. TOT daily traders were on the sidelines for Monday’s session but went 200% short on the close and have carried that position overnight and into today.
Since initiation of this service on September 30, 1993, our daily trader recommendations have gained 8585.06 cumulative SPX points, compared to a gain of 803.16 points in the index itself over the same period.
The super long term perspective for the stock market remains bearish (as it has been since January 2000), and it’s unlikely anything will change that for several years.
Both the long and short term models remain neutral.
The daily model, as expected, is bearish today. TOT daily traders come into today’s session 200% short. Use a fairly tight stop at SPX 1268.50 on half the position and a slightly less tight stop at SPX 1273 on the other half. If not stopped out, carry the position overnight and into tomorrow.
There is no evidence at present of any significant forthcoming decline. A pullback over the next week of between 10 to 15 SPX points is probably all that can be expected – in the absence of surprising news, of course.
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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