A small bookkeeping item first: The SPX advanced 16.54 points on Monday, not the 16.34 previously reported.
The SPX advanced 5.14 points yesterday to close at 1689.13. TOT daily traders were on the sidelines for the session. We are currently flat.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 13529.69 cumulative SPX points, compared to a gain of 1230.20 points in the index itself over the same period. That’s a ratio of 11.00 to one.
(The commentary in this paragraph last updated June 28, 2013) The super long term perspective for the stock market remains bearish (as it has been since January 2000 after having been bullish for over 25 years, from December 1974 until then). I continue to expect the market to suffer more pain before the primary bear market is over, some years in the future.
(The commentary in this paragraph last updated September 2, 2013) The Intermediate Term Model remains bullish. I expect to see SPX 1700 again before 1600, but once that has occurred, I expect to see 1600 before 1800. But for now, put me down as an intermediate term bull.
The daily model is slightly bullish today. I expect to see the SPX advance modestly. TOT daily traders are advised to go 100% long at SPX 1691 stop. If the SPX declines to 1688 before advancing to 1691, lower your entry buy stop to SPX 1690. And for each further 2 point decline, lower your entry buy stop by an equivalent 2 points. If and when you go long, use a ½ percent protective sell stop on the position. If not stopped out, carry the position overnight and into tomorrow.
Thanks for the opportunity to be of service, and I’ll email you again with a TOT report in 24 hours – or sooner if circumstances warrant.
Turov on Timing is Copyright © 2013 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. All recommendations are based on the Standard & Poor’s cash index (SPX) which cannot be directly traded and Turov Investment Group Inc. makes no recommendation or suggestion to readers as to how SPX-based recommendations should be traded but rather leaves that to the discretion of each individual reader. The “official” price of the opening and closing SPX is as reported at www.bigcharts.com and may not be consistent with futures or ETF prices. All stop recommendations are based on that “official” price. Any recommendation that is to take place at a specific time is basis the “opening” on a one minute bar chart beginning at that time and ending one minute later. All times mentioned are Eastern. Questions related to this service should be directed to InvestmentAdvice@aol.com.