The SPX advanced 27.72 points yesterday to close at 1945.50. TOT daily traders went 300% long on the opening and took profits on the close.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 16393.27 cumulative SPX points, compared to a gain of 1486.57 points in the index itself over the same period. That’s a ratio of 11.03 to one. (Please note that any day in which the daily model fails to outperform the SPX by at least a ratio of +11.03 to one, since that’s the ratio of outperformance already achieved, that ratio will decline.)
(The commentary in this paragraph last updated November 5, 2015) The super long term perspective (i.e., it’s a prediction, not a forecast!) 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 expect that our new 2016-elected President will have some very serious problems during his/her single term in office.
(The commentary in this paragraph last updated February 22, 2016.) After booking 110 points on the short side, as of February 16, the Intermediate Term Model had booked 65 points on the long side and had reversed to short. The Intermediate Term model remains bearish. However, if the market doesn’t move lower over the next few days, that reading is in jeopardy.
As I stated yesterday afternoon on our sister publication, Turov on Overnight Possibilities, would most likely be the case today, the daily model is neutral. However, if the market can stabilize in the early going, it is likely to move up as the day progresses. Stand aside for now, but I expect to update again in the morning.
Thanks for the opportunity to be of service, and I’ll update again later today.
Turov on Timing is Copyright © 2016 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 including the fact that past performance is not a guarantee of future performance. 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.