This is Turov on Timing for Monday, April 4, 2011.
The SPX advanced 6.58 points Friday to close at 1332.41. However, all the gain was early-on, and the late afternoon fade was typical following a gap-opening-higher response to a favorable jobs report.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 12379.12 cumulative SPX points, compared to a gain of 873.48 points in the index itself over the same period. That’s a ratio of 14.17 to one.
The super long term perspective for the stock market remains bearish (as it has been since January 2000 after having been bullish from December 1974 until then). When the current cyclical bull market ends, expect another nasty crash to perhaps finally bring an end to the long term bear market that began in 2000.
The Intermediate Term Model remains bullish.
The daily model is bullish today. However, I expect to see today’s pattern quite similar to Friday’s, with the market strong in the early going, and followed by a fade later on. (Interestingly enough, if the market is weak in the early going, then we should see strength later on!)
TOT daily traders are advised to go 300% long at SPX 1333 stop or at SPX 1328 limit, whichever comes first. Once long, use a 1% protective sell stop on the position.
Thanks for the opportunity to be of service, and I’ll email you again between 10:45 and 10:55 – or sooner if circumstances warrant.
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