The SPX declined 8.94 points yesterday to close at 1062.44. TOT daily traders were on the sidelines for the session.
The super long term perspective for the stock market remains bearish.
Both the long and short term models remain neutral.
The daily model is neutral today, not because most component indicators are neutral but rather because many are quite bullish and others are quite bearish. After a rather quiet day yesterday, the market could easily move up or down 20 SPX points today in either direction that news dictates. Stand aside again. We’re getting close to a big move, but it’s just not clear yet in which direction.
Since initiation of this service on September 30, 1993, our daily trader recommendations have gained 6622.95 cumulative SPX points compared to a gain of 603.51 points in the index itself over the same period.
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