This is a 9:00 a.m. pre-opening update of Turov on Timing for Tuesday, April 5, 2011.
News recently came out that explains a lot of yesterday’s and this morning’s weakness in the NASDAQ 100. As reported by Reuters, “Nasdaq to rebalance index, cut Apple weighting.” The full story is available at http://news.yahoo.com/s/nm/20110405/bs_nm/us_nasdaq_apple
I would expect to see the NASDAQ 100 advance once the rebalancing is completed and bring the rest of the market higher with it. But because the SPX-based daily model is neutral today, we will stand aside.
Thanks for the opportunity to be of service, and I’ll email you again in about 17 hours – or sooner if circumstances warrant.
Turov on Timing is Copyright © 2011 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.