The SPX advanced 2.83 points Friday to close at 2263.79. TOT daily traders were on the sidelines for the session.
I hope all of you had a very happy Christmas weekend. I’m still hoping for the day when all people treat all other people with the loving kindness that Jesus preached. That would be a very happy Christmas indeed.
For the second day in a row, CNBC put up dozens of “Alerts” all day long about how close the market is to 20,000 – even when the Dow was 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 1804.86 points in the index itself over the same period. That’s a ratio of 9.38 to one. (Please note that any day in which the daily model fails to outperform the SPX by at least a ratio of +9.38 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 27, 2016.) The Intermediate Term Model is bearish but not by much. The market is giving very few hints as to whether recent upside momentum will hold or whether the Santa Claus rally will fail for the third consecutive year (something that has never previously happened).
The daily model is quite neutral today. The only thing that is very probable is that the market will NOT have a big move today, in the absence of news. Look for a +5 to -5 change, but I don’t see any particular edge one way or the other. We will stand aside.
Thanks for the opportunity to be of service and I’ll email you again in 24 hours – or sooner if circumstances warrant.
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.