The Trader’s Wire Market Update for Wednesday, March 29, 2017 – TheTradersWire

The Trader’s Wire Market Update for Wednesday, March 29, 2017

The Trader’s Wire Market Update for Wednesday, March 29, 2017

This is Turov on Timing for Wednesday, March 29, 2017

The SPX advanced 16.98 points yesterday to close at 2358.57.  Intermediate Term trades were long, while TOT daily traders were on the sidelines for the session.  Yesterday, I wrote, “All four of my index models forecast an advance today.  Unfortunately, my daily model forecasts just the opposite, a decline today.  When this disparity occurs, so far, I have been unable to discern any pattern to give me a heads-up on which is more likely to be correct.  I “feel” bullish – but I don’t act on feelings.”  With hindsight, bullish would have been a good call.

Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 17161.93 cumulative SPX points, compared to a gain of 1899.64 points in the index itself over the same period.  That’s a ratio of 9.03 to one.  (Please note that any day in which the daily model fails to outperform the SPX by at least a ratio of +9.03 to one, since that’s the ratio of outperformance already achieved, that ratio will decline.)

(The commentary in this paragraph last updated November 10, 2016) 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.

(The commentary in this paragraph last updated March 24, 2017.)  The Intermediate Term Model remains bullish.  This does not mean the bull market is without risk.  It does mean that the odds favor the next 50 point move in the SPX is more likely to be up to about 2400 than down to 2300.

The daily model is bearish today.  TOT daily traders are advised to go 200% short at SPX 2357 stop.  If the SPX advances to 2362 before declining to 2357, raise your entry sell short stop to SPX 2360, and for each additional 2 point advance, if it occurs, raise the entry sell short stop by an equivalent 2 points.  Once short, use a 15 point protective buy stop on the position.

Thanks for the opportunity to be of service, and I’ll email you again later during today’s session.

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