This is a 10:50 intraday update of Turov on Timing for Wednesday, December 29, 2010.
The market is up a tad this morning, and I have no strong sense of what the SPX might do through the close. However, two models I run are telling radically different stories: My NASDAQ model is indicating the probability of weakness through the close, and my Russell 2000 model is indicating the probability of strength. So, while officially we will continue to stand aside inasmuch as this is an SPX based service, unofficially I thing a day-trade hedge of long the Russell ETF (IWM) and short the NASDAQ ETF (QQQQ) should prove profitable.
Thanks for the opportunity to be of service, and I’ll email you again six hours before the start of tomorrow’s session – or sooner if circumstances warrant.
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