The blog post he linked to was this one from May 13, 2011.
In light of this I thought I would share the study that was discussed in the subscriber letter last night that @PsychTrader referred to as the long signal. It utilized the standard TICK TomOscillator (as Tom McClellan designed it). The standard reading was -245.42 at the close yesterday. This is extremely low. In fact, there have only been 3 lower readings in the past year. The study looked at readings below -200 that coincided with a 5-day low in in SPX and an SPX close above its 200-day moving average. Here is the results table:
There has been a strong propensity for the market to bounce over the next 2-3 days. Despite the negative reaction to the jobs report, traders may want to keep this in mind.