The SPX advanced 1.21 point yesterday to close at 1135.82. TOT daily traders went 300% short at SPX 1133 and have held the position overnight and into today.
Since initiation of this service on September 30, 1993, our daily trader recommendations have gained 8351.10 cumulative SPX points compared to a gain of 676.89 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.
The long model remains neutral, and the short term model remains bearish.
While NASDAQ was strong yesterday, volume on both the NYSE and NASDAQ was light, the DJII and DJIU were down, and NYSE breadth was barely positive.
The daily model is bearish today. TOT daily traders come into today’s session 300% short. Maintain your position and the protective buy stop at SPX 1143. If not stopped out, carry your position overnight and into tomorrow IF NEITHER the SPX nor the NYSE advance/decline ratio are positive on the day. If both are positive, then cover the position on the close.
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.