The S&P 500 (SPX) declined 0.88 point yesterday to close at 1190.69. TOT daily traders went 300% short at SPX 1211.50 on Thursday and have held the position overnight and into today.
Since initiation of this service on September 30, 1993, our daily trader recommendations have gained 8635.09 cumulative SPX points, compared to a gain of 731.76 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 neutral today, reflecting a balance between bullish and bearish forces. There is truly no justification for continuing to hold our short position. TOT daily traders come into today’s session 300% short. Cover your short at SPX 1191 stop or at SPX 1186 limit, whichever comes first. In the unlikely event that neither level is reached, then cover your position on the close. Go overnight flat as it would be very unlikely for the daily model to be bearish on Wednesday. Neutral again is most likely, although bullish is a possibility.
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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