The SPX declined 5.12 points yesterday to close at 1084.78. The market continues to be directionless, and TOT daily traders were on the sidelines for the session as our recommended short price was not reached.
The super long term perspective for the stock market remains bearish.
Both the long and short term models remain neutral.
The daily model is again bearish today, but it would take higher prices first in order for shorting to be worthwhile. TOT daily traders should go 300% short at SPX 1119 or higher but not before 9:40 am, although I’d be surprised to see prices get that high in the absence of a major military success. If you go short, use a stop 12 points above your short level. 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 6562.95 cumulative SPX points compared to a gain of 625.85 points in the index itself over the same period.
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