The S&P 500 (SPX) declined 0.86 point yesterday to close at 1216.10. TOT daily traders were 200% short for the session and have held the position overnight and into today.
Since initiation of this service on September 30, 1993, our daily trader recommendations have gained 8574.59 cumulative SPX points, compared to a gain of 757.17 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.
Although it’s probable that the market is at or near a short term top, the daily model is solidly bullish today. TOT daily traders come into today’s session 200% short. Cover that short AND go 300% long at SPX 1215 limit or at SPX 1217 stop, whichever comes first. If you go long, use a protective sell stop at SPX 1209. If not stopped out AND if the SPX is closing above 1216.09, then carry your position overnight and into tomorrow. Otherwise, liquidate your position on the close and go overnight flat.
Thanks for the opportunity to be of service, and I’ll email you again in 24 hours.
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.