The S&P 500 (SPX) advanced a negligible 0.27 point yesterday to close at 1213.88. Appropriately, TOT daily traders were on the sidelines for the session.
Since initiation of this service on September 30, 1993, our daily trader recommendations have gained 8572.66 cumulative SPX points, compared to a gain of 754.95 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 bearish.
The bond market exploded yesterday (yeah!!!), but lower yields failed to excite stock traders. The market looks more toppy than it did, and the daily model is indicating that the bears may gain the upper hand, at least for a day or two.
TOT daily traders are advised to go 300% short at SPX 1211.50 stop or at SPX 1216.50 limit, whichever comes first. If you go short, use a protective buy stop at SPX 1222.50. If not stopped out, carry your position overnight and into tomorrow, when certain cyclical factors make a bearish daily model reading almost a certainty.
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) 2005 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.