The SPX declined 0.79 points yesterday to close at 1126.21. TOT daily traders went a maximally bullish 500% long at SPX 1126 on Tuesday and have held the position since then and into today.
Since initiation of this service on September 30, 1993, our daily trader recommendations have gained 8307.96 cumulative SPX points compared to a gain of 667.25 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 and short term models remain bullish.
Despite the minor decline in the SPX, NASDAQ and DJII, the Value Line, Russell 2000, and NYSE indices all had modest advances. More important, both the NYSE and NASDAQ advance/decline ratios were positive.
A very simple message today: The daily model is again bullish today, and again, regardless what occurs today, the daily model will be bullish again tomorrow. It is historically extremely unusual for such certainty as to the daily model’s direction to occur a day in advance for several days consecutively. And in answer to the logical question, “What does it signify?”, the answer is, “Candidly, I don’t know because it’s so rare, but it’s hard to imply anything other than that the probability is high that the signal will be right.”
TOT daily traders come into today’s session 500% long. Maintain your protective sell stop at SPX 1114. If not stopped out, carry your position overnight and into tomorrow.
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 (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 publisher.