The SPX declined 8.97 points yesterday to close near the lows of the day at 818.95 in a fairly volatile session. I reported that the daily model was bearish yesterday, but nevertheless recommended that TOT daily traders stand aside.
Since initiation of this service on September 30, 1993, our daily trader recommendations have gained 7151.04 cumulative SPX points compared to a gain of 360.02 points in the index itself over the same period.
The super long term perspective for the stock market remains bearish.
Both the long and short term models remain bullish.
A very short preliminary message: The jobs data is due out at 8:30 a.m. It will surely rattle the Globex futures, and depending how “off consensus” it is, it may well rattle the big boys when the grown up session begins at 9:30. I want to stand aside until that expected volatility is out of the way, as the only ones who can make money trading wild volatility are the floor traders. I’ll have a special email report at 10:30, one hour after the regular session begins.
Thanks for the opportunity to be of service to you, and I’ll email you again in a few hours.
Turov on Timing is Copyright (c) 2002 by Turov Investment Group Inc. All rights reserved. Turov on Timing is for personal use only. Re-publication and distribution is strictly prohibited. No part may be reproduced without the permission of the publisher.