The SPX advanced 5.96 points yesterday to close at 1132.17. TOT daily traders went a maximally bullish 500% long at SPX 1126 on Tuesday and have held the position since then and into today.
Since initiation of this service on September 30, 1993, our daily trader recommendations have gained 8337.76 cumulative SPX points compared to a gain of 673.24 points in the index itself over the same period.
The super long term perspective for the stock market remains bearish, and it’s unlikely anything will change that for several years.
Both the long and short term models remain bullish.
It was not an awe inspiring session, but yesterday’s gain was solid enough with the SPX up about 1/2% and NASDAQ up a little over a full percent. Breadth was excellent, and volume increased on the rally. All five of the NYSE five most active stocks advanced. And the relative weakness in the Dow can be completely attributed to the rebalancing of that antiquated index, with money flowing from the exiting stocks and flowing into the arriving ones – yet only the exiting stocks are currently in the Dow and therefore able to impact the index.
The daily model is again bullish today. Raise your protective sell stop to a breakeven SPX 1126. On the upside, if the SPX gets to 1147, take your profit. If neither stop nor limit is reached, carry your position over the weekend and into Monday.
Thanks for the opportunity to be of service, and I’ll email you again in 72 hours – or sooner if circumstances warrant.
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