The SPX advanced 2.59 points yesterday to close at 1002.33. TOT daily traders went 200% short at SPX 999 and have held the position overnight and into today.
Since initiation of this service on September 30, 1993, our daily trader recommendations have gained 7885.73 cumulative SPX points compared to a gain of 543.40 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, although only by the narrowest of margins.
For most of the session, the market was labored, but in the last half hour, it rallied a tad, closing in positive territory. Nine of the ten most active NYSE stocks advanced. Bonds were VERY strong as yields declined, and that contributed to the market’s underpinnings.
The daily model is neutral today, as various component indicators are giving wildly divergent signals. TOT daily traders come into the session 200% short. Lower your stop to SPX 1007. If not stopped out, carry the 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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