Keybot remains long to start the new week. Financials jumped to the bull side last week but the relationship is tenuous. Watch XLF 16.34 as the bull-bear line, now at 16.38. Copper is the only major sector area showing bearishness. Utilities, copper and financials are the key sectors to watch as the week begins.
If the SPX hits a 1365 handle, markets will accelerate upwards again towards resistance at 1368, then 1371. If the SPX drops thru 1358 support, then the move down will accelerate towards 1354 and 1350 support. A sideways zone exists at 1358-1361.
Stay on guard, caution is warranted, markets are unstable.
5/8/11; 7:00 PM EST =
5/6/11; 9:00 AM EST =
5/1/11; 7:00 PM EST; EOM (April) = +60
4/29/11; 10:00 AM EST = +60
4/28/11; 10:45 AM EST = +60
4/26/11; 10:00 AM EST = +44; signal line is +40
4/25/11; 9:30 AM EST = +44
4/24/11; 7:00 PM EST = +60
4/21/11; 9:35 AM EST = +60
4/20/11; 9:30 AM EST = +44; signal line is +42; go long 1324; (Benchmark SPX for 2011=+5.3%)(Keybot this trade=-0.7%; Keybot for 2011=+1.0%)(Actual this trade via DXD=-1.9%; Actual for 2011=-2.0%)
4/19/11; 9:00 AM EST = +28
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