This is Turov on Timing for Monday, November 29, 2010.
The SPX declined 8.95 points Friday to close at 1189.40. TOT daily traders were on the sidelines for the session.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 12053.95 cumulative SPX points, compared to a gain of 730.47 points in the index itself over the same period. That’s a ratio of 16.50 to one.
The super long term perspective for the stock market remains bearish (as it has been since January 2000 after having been bullish from December 1974 until then). When the current cyclical bull market ends, expect another nasty crash to perhaps finally bring an end to the long term bear market that began in 2000.
The Intermediate Term Model remains bearish.
Futures are up about ½% on the news of the finalization of the Irish bailout, but it’s unclear whether that gain will hold in the early going of the day session. If it does, the balance of the day is a statistical tossup. However, if we see weakness in the early going, and if my intraday model shows positive divergence during that weakness, then we could see a powerful advance later on. So, stand aside for now, and I’ll email you again between 10:50 and 11:00 a.m.
Thanks for the opportunity to be of service, and I’ll email you in a few hours.
Turov on Timing is Copyright © 2010 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.