The SPX declined 3.3 points Thursday to close at 2060.99. TOT daily traders had a breakeven on a late day trade and are currently flat.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 16006.27 cumulative SPX points, compared to a gain of 1602.06 points in the index itself over the same period. That’s a ratio of 9.99 to one. (Please note that any day in which the daily model fails to outperform the SPX by at least a ratio of +9.99 to one, since that’s the ratio of outperformance already achieved, that ratio will decline.)
(The commentary in this paragraph last updated November 5, 2015) The super long term perspective (i.e., it’s 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 expect that our new 2016-elected President will have some very serious problems during his or her single term in office.
(The commentary in this paragraph last updated December 24, 2015.) The Intermediate Term Model remains bullish. I said on December 22 that I “expect the next 50 SPX points to be up (and that) after that, the situation gets a lot less clear.” Since then, the SPX has risen 58.74 points. It is more murky now, but the most likely direction is still up.
On Thursday afternoon’s Turov on Overnight Possibilities, I wrote, “The opening Monday will probably be soft, followed by buying later in the session.” That is how I see today playing out, and I recommend standing aside for the time being, although there is a good chance I will suggest a trade later today.
Thanks for the opportunity to be of service, and I’ll update again later today.
Turov on Timing is Copyright © 2015 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 stop 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.