This is a 10:45 intraday update of Turov on Timing for Wednesday, October 19, 2011.
TOT daily traders went 300% long at SPX 1202 yesterday and took profits this morning at SPX 1223.46. We are currently flat.
My NASDAQ model suggests further weakness in the NASDAQ 100 is likely today, but it is unclear whether such anticipated weakness will drag the SPX lower or not. Unofficially, I would go short the NASDAQ 100. Officially, this SPX-based service will stand aside for the balance of today.
Thanks for the opportunity to be of service, and I will update again in about 15 hours – or sooner if circumstances warrant.
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