This is a 2:23 p.m. intraday update of Turov on Timing for Tuesday, May 19, 2009.
The SPX is currently about 915. It is almost a certainty that the daily model will be bearish tomorrow, and the NASDAQ model is indicating about a 2:1 probability of an early morning selloff. TOT daily traders are advised to go 300% short at SPX 913 stop OR at the market on the close. Carry your position overnight and into tomorrow.
Thanks for the opportunity to be of service, and I’ll email you again in 10 hours.