The SPX advanced 10.30 points yesterday to close at 858.48. TOT daily traders came into the session 200% short and took profits on the position at SPX 850, then moved to the sidelines.
Since initiation of this service on September 30, 1993, our daily trader recommendations have gained 7464.87 cumulative SPX points compared to a gain of 399.55 points in the index over the same period.
The super long term perspective for the stock market remains bearish.
The long term model remains neutral, and the short term model remains bearish, even though a VERY short term advance is likely.
Positive momentum yesterday, especially in up to down volume, added to the positive seasonal and cyclical factors described on yesterday’s message, were enough to move the daily model to modestly bullish today. TOT daily traders should go 200% long at the market. Use a protective sell stop at SPX 849. On the upside, if we get to SPX 877, take your profit. If not stopped out, carry your position 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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