This is a 2:30 p.m. interim update of Turov on Timing for Monday, October 21, 2002.
The SPX is currently up about 14 points. There was no positive divergence on my intraday model on the decline this morning, and no negative divergence on the advance this afternoon. That means that the smart money (specialists and market makers) are neither leading the market nor trading against it, but rather are just, well, market-making. Should that change, I’ll let you know. Otherwise, I’ll be back with you at the regular time.
Thanks for the opportunity to be of service to you, and I’ll email you again six hours before the start of tomorrow’s trading session – or sooner if circumstances warrant.
Turov on Timing is Copyright (c) 2002 by Turov Investment Group Inc. All rights reserved. Turov on Timing is for personal use only. Re-publication and distribution is strictly prohibited. No part may be reproduced without the permission of the publisher.