This is an 8:45 a.m. pre-opening update of Turov on Timing for Thursday, August 7, 2003.
As I said on the regular hotline message, the directional component of the daily model is bearish today. However, the risk component of the model is just barely above the mark required to push the overall model into neutral. I’d like to see a rally, accompanied by negative divergence on my intraday model, but unfortunately, I don’t get to write the script. In any event, stand aside for now, futures indicate a lower opening, and if the market rallies and we get that negative divergence, I’ll be certain to update you with an intraday message.
Thanks for the opportunity to be of service, and I’ll email you again at the regular time – or sooner if circumstances warrant.
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