Turov Share 0 Tweet Trader’s Wire Market Update for Thursday, July 20, 2017 Those of you who attended my seminar several years ago no doubt remember my friend and mentor, Earl Zazove, who introduced me. Well, today is Earl’s 97th birthday, and he is still going strong! Happy birthday Earl! The SPX advanced 13.22 points yesterday to close at 2473.83. TOT daily traders came into the session 200% short and fortunately closed out the position on the 2463.85 opening. Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 17331.38 cumulative SPX points, compared to a gain of 2014.90 points in the index itself over the same period. That’s a ratio of 8.60 to one. (Please note that any day in which the daily trader recommendation fails to outperform the SPX by at least a ratio of +8.60 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 July 19, 2017.) Despite the 1999 feel to the market, the Intermediate Term Model remains bearish. While the market could certainly move higher in the short run, by Labor Day I expect to see it lower than it is now. I do not believe such a decline will be the death knell for this bull market, and it could well offer an opportunity for us to partake of the last phase of the bull market. The daily model is slightly bullish today, with most of the expected gain taking place as the session advances. TOT daily traders are advised to go 200% long at the market at 10:45 a.m. if the SPX is up at that time. If the SPX is down at that time, I advise standing aside. If you go long, use a 1% protective sell stop on the position.