This is a 3:50 p.m. update of Turov on Timing for Tuesday, October 4, 2011.
This update takes the place of the normal overnight report for Wednesday.
The Intermediate Term Model improved from bearish to bullish today and remains bullish. I expect the next 50 SPX points will be higher, not lower.
TOT daily traders went 400% long at SPX 1080 this morning. The SPX is currently about 30 points above there! The probability is that the market will gap open yet higher Wednesday morning (in the absence of unknown news, of course). TOT daily traders are advised to carry the position overnight and into tomorrow.
Thanks for the opportunity to be of service, and I will update again between 10:45 and 11:00 a.m. Wednesday morning – or sooner if circumstances warrant.
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