The S&P 500 (SPX) advanced 3.09 points yesterday to close at 1203.91. TOT daily traders covered an unleveraged 100% short position and went 400% long at SPX 1202 and have held the position overnight and into today.
Since initiation of this service on September 30, 1993, our daily trader recommendations have gained 8582.19 cumulative SPX points, compared to a gain of 744.98 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.
The directional component of the daily model is bullish today, but the risk component is surprisingly high, moving the overall model into neutral. We will respect that by reducing risk.
TOT daily traders come into today’s session 400% long. Raise your sell stop to a breakeven SPX 1202. On the upside, if the SPX advances to 1209, take your profit. If neither level is touched, liquidate your position on the close and go overnight flat, as there is an overwhelming probability that the daily model will be neutral on Thursday and Friday.
Thanks for the opportunity to be of service, and I’ll email you again in 24 hours.
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