This is an 8:45 a.m. issue of Turov on Timing for Friday, October 2, 2009.
I’m back in San Diego and have spent the past several hours updating data I was unable to get while away. I still don’t know why my computer was unable to get on-line wirelessly (at home I use a wired connection), but I’ll get it fixed before I travel again.
The daily model is modestly bearish today, but the jobs number has disappointed the market this morning, and the pre-opening futures are down sharply. There is nothing in my data to indicate whether we might see a waterfall or a rebound in the afternoon, and my NASDAQ model is neutral for the 10:45 through the close period. We have been on the sidelines, and that seems like a good place to stay.
I’ll update again between 3:45 and 3:55 with a look-ahead to Monday.
Thanks for the opportunity to be of service, and I’ll email you again in about 7 hours.
Turov on Timing is Copyright © 2009 by Turov Investment Group Inc. All rights reserved. Turov on Timing is for personal use only. All caveats and advisories that appear in the monthly Turov on Timing apply equally to this email. Re-publication and distribution is strictly prohibited. No part may be reproduced without the permission of the Turov Investment Group Inc.