The SPX advanced 0.79 point yesterday to close at 1115.14. It was the second consecutive day of negligible movement, and TOT daily traders were on the sidelines for the session.
Since initiation of this service on September 30, 1993, our daily trader recommendations have gained 8292.65 cumulative SPX points compared to a gain of 656.21 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 term and short term models remain bearish.
The news overnight, of course, is Intel, and that should bring some weakness in the early going. However, the daily model is not looking all that bad, managing to generate a neutral reading once again. It might be boring, but the smart money says to stand aside until we get a clearer reading.
Thanks for the opportunity to be of service, and I’ll email you again in 24 hours – or sooner if circumstances permit.
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