The SPX advanced 2.34 points yesterday to close at 1762.11. TOT daily traders went 200% long at SPX 1759.42 and took a tiny loss as we were stopped out at SPX 1959.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 13584.40 cumulative SPX points, compared to a gain of 1303.18 points in the index itself over the same period. That’s a ratio of 10.42 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 October 18, 2013) The Intermediate Term Model remains bullish. The market is now above its previous high, as was expected, and I expect it to move higher yet – before it crashes.
The daily model is bearish today. TOT daily traders are advised to go 300% short at the first sign of weakness, i.e., SPX 1762 stop. If the SPX advances to 1766 before declining to 1762, raise your entry sell stop to SPX 1764. And for each further 2 point advance, raise your entry sell stop by an equivalent 2 points. If and when you go short, use a protective buy stop 1% above your entry short level.
While not part of the daily model analysis, I thought you might find the following of interest. In the past ten years, there have been nine occasions in the latter part of October when the SPX advanced on a Friday AND on the following Monday, similar to this month. All nine occasions occurred in bull markets. Of the nine, the following Tuesdays fared rather badly. Here’s the record:
Ratio up:down (and the 2 up were anemic)
Thanks for the opportunity to be of service, and I’ll email you again sometime during today’s trading session.
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