The SPX declined .05 points yesterday to close at 1109.38. 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 bullish.
In a statement that’s so obvious it’s embarrassing to state it, today’s market will likely be guided by Chairman Greenspan’s Congressional testimony. Sans that, the market will likely move lower, since the daily model is modestly bearish.
TOT daily traders are advised to go an unleveraged 100% short at SPX 1106 stop. If executed, use a protective buy stop at SPX 1116. If not stopped out, carry your position overnight and into tomorrow.
Since initiation of this service on September 30, 1993, our daily trader recommendations have gained 6656.80 cumulative SPX points compared to a gain of 650.41 points in the index itself over the same period.
Thanks for calling, and I’ll speak with you again in 24 hours.