The SPX advanced 8.19 points yesterday to close at 1198.78. TOT daily traders were on the sidelines for the session.
The super long term perspective for the stock market remains bearish. However, both the long and short term models remain bullish.
The daily model is ever so slightly bullish today. TOT daily traders should go 100% long at SPX 1202 stop. If you go long, use a 10 point protective sell stop. If the SPX rises to 1212, raise your stop to 1202, and for each additional 10 point advance, raise your stop by an equivalent 10 points. If still long on the close, carry your position overnight and into tomorrow.
The market is still quite vulnerable to any negative news. However, in the absence of such news, the path of least resistance is higher.
Since initiation of this service on September 30, 1993, our daily trader recommendations have gained 6485.75 cumulative SPX points compared to a gain of 739.85 points in the index itself over the same period.
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