The SPX declined 4.22 points yesterday to close at 2260.96. TOT daily traders were on the sidelines for the session.
Please open the attachment to today’s message.
CNBC puts up dozens of “Alerts” all day long about how close the market is to 20,000 – even when the Dow is moving lower! As I said at my seminar years ago, the media is NOT interested in educating you; it is interested in entertaining you so that you stay tuned in, and they can charge more for advertising because of higher viewership.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 16934.51 cumulative SPX points, compared to a gain of 1802.03 points in the index itself over the same period. That’s a ratio of 9.40 to one. (Please note that any day in which the daily model fails to outperform the SPX by at least a ratio of +9.40 to one, since that’s the ratio of outperformance already achieved, that ratio will decline.)
(The commentary in this paragraph last updated November 10, 2016) The super long term perspective (a prediction, not a forecast!) for the stock market remains bearish (as it has been since January 2000 after having been bullish for over 25 years, from December 1974 until then). I believe that, adjusted for REAL inflation (not the funny numbers the Social Security Administration uses) the stock market will be lower in real dollars in 2020 than it was in 2000. For a long time, I’ve been saying, “I also expect that our new 2016-elected President will have some very serious problems during his/her single term in office.” That belief stands.
(The commentary in this paragraph last updated December 23, 2016.) The Intermediate Term Model is bearish but not by much. Whether the market can stage a continuation of the rally from Christmas through New Year’s is unclear at present, but there is more downside risk than upside potential in the short run.
The daily model is neutral today, but the SPX is likely to move higher in the early going – before giving back those gains as the session progresses. The VERY nimble might be able to make a trade of it in the early going, but officially, we will stand aside.
Enjoy the three day Christmas weekend, thanks for the opportunity to be of service and I’ll email you again prior to Tuesday’s trading session. AND PLEASE CHECK THE ATTACHMENT TO TODAY’S MESSAGE!
Turov on Timing is Copyright © 2016 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 including the fact that past performance is not a guarantee of future performance. Re-publication and distribution is strictly prohibited. No part may be reproduced without the permission of the Turov Investment Group Inc. All recommendations are based on the Standard & Poor’s cash index (SPX) which cannot be directly traded and Turov Investment Group Inc. makes no recommendation or suggestion to readers as to how SPX-based recommendations should be traded but rather leaves that to the discretion of each individual reader. The “official” price of the opening and closing SPX is as reported at www.bigcharts.com and may not be consistent with futures or ETF prices. All recommendations are based on that “official” price. Any recommendation that is to take place at a specific time is basis the “opening” on a one minute bar chart beginning at that time and ending one minute later. All times mentioned are Eastern. Questions related to this service should be directed to InvestmentAdvice@aol.com.