The Trader’s Wire Market Update for Friday, March 3, 2017

The SPX declined 14.04 points yesterday to close at 2381.92, giving back 43% of Wednesday’s gain.

TOT daily traders, who had been 200% long for Wednesday’s big rally, were on the sidelines  yesterday and gave back none of Wednesday’s gains.

Short-Term

The daily model is bearish again today.  TOT daily traders are advised to go 200% short at SPX 2380 stop; 2377 limit.  If and when you go short, use a protective buy stop at SPX 2404.

Intermediate-Term

The Intermediate Term Model is bearish.  This signal was wrong for a surprising amount of time, but at the present time, it seems more likely than the more commonly held bullish perspective.

Long-Term

The super long term perspective (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 believe that, adjusted for REAL inflation (not the funny numbers the Social Security Administration uses) the stock market will be lower in real dollars in 2020 than it was in 2000.  For a long time, I’ve been saying, “I also expect that our new 2016-elected President will have some very serious problems during his/her single term in office.”  That belief stands.

About the author

Daniel Turov

In 1994, he was named “Supertrader of Wall Street” by the Stock Trader’s Almanac. In 2001, he was named “Supertrader of the Millennium” by the Stock Trader’s Almanac. He’s been a Securities and Exchange Commission Registered Investment Advisor and a member of the National Futures Association and is licensed by the State of California as a Life agent. Since 1993, he’s authored Turov on Timing, a monthly and daily publication specializing in stock market timing. Turov Investment Group Inc. (as a corporation) and Daniel Turov (as an individual) are California licensed Registered Investment Advisers. Investors from all 50 U.S. states and most foreign nations are welcomed as clients.

Leave a comment: