Turov Share 0 Tweet Trader’s Wire Market Update for Wednesday, June 28, 2017 The SPX declined 19.69 points yesterday to close at 2419.38. TOT daily traders were on the sidelines for the session. Since initiation of the Turov on Timing service on September 30, 1993, our daily trader recommendations have gained 17372.52 cumulative SPX points, compared to a gain of 1960.45 points in the index itself over the same period. That’s a ratio of 8.86 to one. (Please note that any day in which the daily model fails to outperform the SPX by at least a ratio of +8.86 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 May 10, 2017.) The Intermediate Term Model remains bearish. But while it is bearish, in the absence of a bearish news catalyst, I don’t expect the decline to be any more robust than the advance that preceded it. I expect to see the market open higher and then sell off. TOT daily traders are advised to go 200% short at SPX 2416 stop (a level I don’t expect to be seen in the first few minutes of trading). If the SPX advances to 2422 (as would not surprise me) before declining to 2416, raise the entry sell stop to SPX 2420. And for each additional 2 point advance, if it occurs, raise the entry sell stop by an equivalent 2 points. Once short, use a 1% protective buy stop on the position.