This is a 10:45 intraday update of Turov on Timing for Wednesday, December 16, 2009.
On the regular overnight message, I said, “Depending on how the market trades in the early going, the NASDAQ model is almost certain to generate a strong signal (it could be either bullish or bearish) at 10:45.” It has, sort of…
Were today not an FOMC day, that signal would be bearish. However, purely as an FOMC day (1) it is modestly bullish, and (2) volatility, and the related risk of whipsaws, is very high. I am therefore recommending that we “err on the side of caution” and stand aside.
Thanks for the opportunity to be of service, and I’ll email you again in about 15 hours.
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