The SPX advanced 8.94 points yesterday to close at 1966.97. TOT daily traders were on the sidelines for the day.
Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 15930.23 cumulative SPX points, compared to a gain of 1508.04 points in the index itself over the same period. That’s a ratio of 10.56 to one. (Please note that any day in which the daily model fails to outperform the SPX by at least a ratio of +10.56 to one, since that’s the ratio of outperformance already achieved, that ratio will decline.)
(The commentary in this paragraph last updated August 24, 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). The cyclical bull market that began a few years ago may have ended last Friday, but that’s unclear at present. For a long time, I have written that I expect “to see a bear market of 35% to 50% magnitude” but I do not have enough evidence to say that this is the beginning of a decline of that magnitude. Regardless, I expect to see our new 2016-elected President have some very serious problems during his or her single term in office.
(The commentary in this paragraph last updated September 18, 2015.) The Intermediate Term model remains bearish. The market is likely to have a very rough time of it next week.
The daily model is bullish today, but I am going to take the very unusual step of overriding the model inasmuch as my intuition simply is uncomfortable going long. I never use my feelings to go against the daily model but on rare occasions, I will opt for safety in cash. I recommend standing aside.
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 © 2015 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.