This is Turov on Timing for Tuesday, June 8, 2010.
The monthly Turov on Timing is attached to today’s report.
The Standard & Poor’s 500 Index (“SPX”) declined 14.41 points yesterday to close at 1050.47. TOT daily traders went 300% long at SPX 1068 and exited quickly at SPX 1066, avoiding most of the day’s decline. We are currently flat.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 11979.19 cumulative SPX points, compared to a gain of 591.54 points in the index itself over the same period. That’s a ratio of 20.25 to 1.
The super long term perspective for the stock market remains bearish (as it has been since January 2000 after having been bullish from December 1974 until then) but the current cyclical bull market probably has further to go before topping out.
The Intermediate Term Model remains bearish.
Although futures are up modestly overnight, none of my models are really strongly either bullish or bearish for the day as a whole. However, my NASDAQ model forecasts that IF the NASDAQ 100 Index (NDX.X) is weak in the morning, it should recover in the afternoon. We will stand aside for the time being. If the NDX.X is below 1798 at 10:45, I will probably want to go long. HOWEVER, that would not necessarily be the case if the market were cascading. In any event, if the NDX.X is below 1798 at 10:45, I will update no later than 11:00. Otherwise, the next update will be in 24 hours.
Thanks for the opportunity to be of service, and I’ll email you again as per the prior paragraph – or sooner if circumstances warrant.
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