This is Turov on Overnight Possibilities AND Turov on Timing for Tuesday afternoon, May 23, 2017
The market for tomorrow is simply “too close to call” with only 15 minutes left. Close out any positions on the close and go overnight flat.
Turov on Overnight Possibilities (TOP) is Copyright © 2017 by Turov Investment Group Inc. (TIG) All rights reserved. TOP is for personal use only, and distribution or use by third parties may result in an offender’s subscription being suspended or cancelled without refund of the unused portion. 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 TIG. All times mentioned are Eastern. THE OVERNIGHT RECOMMENDATIONS IN TOP ARE STRICTLY FOR THE PERIOD OF TODAY’S CLOSE THROUGH THE OPENING OF THE NEXT TRADING DAY, AND SUCH RECOMMENDATIONS ARE INTENDED FOR REGISTERED INVESTMENT ADVISERS, REGISTERED REPRESENTATIVES and other professionals and extremely sophisticated traders who understand both the limitations of statistics and of forecasting market developments. The comments in TOP are based on proprietary work by TIG, and the statistical analysis performed by TIG may be different from the statistical work done by others. If a TOP reader acts on comments made in TOP, he or she takes full responsibility for the results of that action. Readers should understand, for example, that if TOP states that a market move has a 75% probability of a move in one direction, it also means that it has a 25% probability of a move in the opposite direction. While specific Electronically Traded Fund (ETF) recommendations are based on the period of today’s close through the 9:30 a.m. Eastern time opening on the next trading day, probability statements are based on the period of today’s close through 10:45 a.m. on the next trading day. There are no guarantees made or implied, and significant overnight news will always change the probabilities in unforeseen ways. Unless otherwise stated, probability moves deal with probable direction, NOT magnitude, and in a news-neutral or news-random environment (which rarely occurs). However, specific recommendations consider both directional and magnitude probabilities, and once again, in a news-random environment. TIG makes no recommendation or suggestion to readers as to how or if TOP comments should be traded, but rather leaves that to the discretion of each individual reader. DIA is the symbol for the ETF for the Dow Jones Industrial Index (DJII), SPY is the ETF for the Standard & Poor’s 500 Index (SPX), QQQ is the ETF for the NASDAQ 100 Index (NDX), and IWM is the ETF for the Russell 2000 Index (RUT). Questions related to this service should be directed to InvestmentAdvice@aol.com.