The SPX advanced 0.84 point yesterday to close at SPX 1206.14. TOT daily traders went 200% long at SPX 1198 on Friday and another 200% long yesterday at SPX 1206, and have held the position overnight and into today.
Since initiation of this service on September 30, 1993, our daily trader recommendations have gained 8495.87 cumulative SPX points compared to a gain of 747.21 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.
It was a dull session yesterday, to say the least, with the SPX trading in a very narrow range and closing almost unchanged. But it was able to hold on to its gains from Thursday and Friday, add to those gains a tad, and hold above former resistance – now support – in the 1200-1205 area. That bodes well.
TOT daily traders come into today’s session 400% long. Maintain the position and use a protective sell stop on the entire position at SPX 1196 stop. If not stopped out, carry it 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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