Trader’s Wire Market Update for Wednesday, May 10, 2017

Trader’s Wire Market Update for Wednesday, May 10, 2017

The SPX declined 2.46 points yesterday to close at 2396.92.   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 17246.77 cumulative SPX points, compared to a gain of 1937.99points in the index itself over the same period.  That’s a ratio of 8.90 to one.  (Please note that any day in which the daily model fails to outperform the SPX by at least a ratio of +8.90to 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.

As was the case yesterday, the daily model is dead neutral today.  Both bears and bulls are sleepy, and it will take some significant news to awaken one or the other.  We will snooze along with them; stand aside.

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