The SPX declined 18.51 points yesterday to close at 1059.79. 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 neutral.
The directional component of the daily model is slightly bullish today, but risk is extremely high. TOT daily traders should go 100% long at SPX 1061 stop. If you go long, use a very close 5 point protective stop. If not stopped out, carry your position overnight and into tomorrow. Please note that just as was the case with our short recommendation on this past Monday, this is a minimal size recommendation with a minimum size stop. Do not exceed either as the daily model prediction is quite marginal.
Since initiation of this service on September 30, 1993, our daily trader recommendations have gained 6583.95 cumulative SPX points compared to a gain of 600.86 points in the index itself over the same period.
Thanks for calling, and I’ll speak with you again in 24 hours.