Friday, July 15, 2011

STOCK MARKET BEARISH -- SHORT -- CAUTION

Keybot remains short after the 10 AM pre-scheduled number shows no change. The early bull euphoria today was dampened slightly on Consumer Sentiment data. The Euro stress test results will set the tone for the remainder of the day. Positive C and JPM earnings are not helping financials.  Copper remains elevated providing the buoyancy in the markets.

SPX:VIX ratio remains under 68 which is negative for the markets. Watch CRB 350.30 level, now about four points below. If the bulls want to run higher, they need to get the CRB above 350.30 and the SPX:VIX ratio above 68. Otherwise, any move up should be muted. SPX 1306.50 remains key today. Indexes will move out sideways today unless 1306.50 fails, if so, we will see 1298-1300 in short order.

7/31/11; 7:00 PM EST EOM =
7/29/11; 10:00 AM EST =
7/26/11; 10:00 AM EST =
7/24/11; 7:00 PM EST =
7/19/11; 9:00 AM EST =
7/17/11; 7:00 PM EST =
7/15/11; 10:00 AM EST = +4
7/11/11; 10:34 AM EST = +4; signal line is +12; go short 1324; (Benchmark SPX for 2011=+5.3%)(Keybot this trade=+3.0%; Keybot for 2011=+7.8%)(Actual this trade via IWM=+3.7%; Actual for 2011=+2.8)

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