The SPX declined 7.7 points yesterday to close at 1146.14. The decline was expected; yesterday I had said, “The market is obviously ripe for some profit taking,” but I recommended holding on to the position during such an expected pull pack. TOT daily traders went 300% long at SPX 1108 on Friday and have held the position since then and into today.
The super long term perspective for the stock market remains bearish.
Both the long and short term models remain bullish.
The daily model is again bullish today. TOT daily traders come into today’s session 300% long. Maintain the stop at SPX 1138 to lock in 30 points. 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 6761.22 cumulative SPX points compared to a gain of 687.21 points in the index itself over the same period.
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