The SPX advanced 13.12 points Friday to close at 1166.16, very much in keeping with the pre-St. Patrick’s Day pattern that I discussed in the March monthly issue of Turov On Timing. However, TOT daily traders stayed on the sidelines for the session inasmuch as the risk component of the model was high, largely as a result of the uncertainty of triple witching.
The super long term perspective for the stock market remains bearish.
The long and short term models remain bullish. However, there is a good chance the short term model will downtick to neutral on tonight’s close.
The directional component of the daily model is bullish today, but risk for the first hour aftermath of triple witching is high. We will temporarily stay on the sidelines for the first hour of trading, but I will send out a special intraday internet advisory at 10:30 Eastern time. Please note that I will not be recording this intraday update, and it will be sent out gratis by email only. If you have not registered your email address yet, please do so if you wish to receive this update. My email address is firstname.lastname@example.org, and there is no space between the words investment and advice.
Thanks for calling, and I’ll speak with you again in 24 hours.