The SPX advanced 3.70 points Friday to close at 1112.82. TOT daily traders were on the sidelines for the session after closing out a short position on the opening.
Since initiation of this service on September 30, 1993, our daily trader recommendations have gained 8292.65 cumulative SPX points compared to a gain of 653.88 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 term and short term models remain bearish.
On Friday’s message, I said, “My best estimate is that the market will have a modest rally today and Monday, and will follow that by a resumption of the downtrend.” That opinion stands. So, for the time being, continue to stand aside, as the primary trend remains down.
Thanks for the opportunity to be of service, and I’ll email you again in 24 hours – or sooner if circumstances permit.
Turov on Timing is Copyright (c) 2004 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. Re-publication and distribution is strictly prohibited. No part may be reproduced without the permission of the Turov Investment Group Inc.