Sunday, July 3, 2011

STOCK MARKET BULLISH -- LONG

Keybot the Quant remains long, the algorithm rode the upside last week.  Keybot views all major sectors to be bullish except for commodities.  The semiconductors moved to the bullish side on Friday which gave the broad market indexes the higher push.  Watch semi's and financials to see if the indexes want to pull back to consolidate when markets reopen on Tuesday.  The SOX, now at 419.11, need to remain above 416.71 to maintain their bullishness, otherwise they will weaken the broad markets.  The XLF, now at 15.63, need to remain above 15.42 to maintain their bullishness, otherwise they will weaken the broad markets.

For the SPX for Tuesday, market bulls continue to have the wind at their backs.  Bulls only need to push the SPX a point or two higher, to touch the 1341 handle, and it will be off to the races for the upside again, the SPX will jump a few handles higher, testing resistance at 1345 and possible 1349.  The market bears need to see red futures come Tuesday morning.  The bears simply need to stop the bleeding and will attempt a sideways move for Tuesday thru the 1319-1339 range.  The only way the bears can get the ball rolling substantially south again is if they can move the SPX under 1319 on Tuesday.

Lots of activity for the algorithm last week, we will see if this continues this week, or if Keybot simply idles along sideways.  A pre-scheduled number will click off on Friday morning at 9 AM. Keybot remains comfortably long to start the week.  Stay on guard, however, since the markets remain very unstable.

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 =
7/10/11; 7:00 PM EST =
7/8/11; 9:00 AM EST =
7/3/11; 7:00 PM EST = +50
7/1/11; 10:03 AM EST = +50
7/1/11; 10:00 AM EST = +34
7/1/11; 9:35 AM EST = +34
6/30/11; 7:00 PM EST EOM EOQ2 EOH1= +18
6/30/11; 1:16 PM EST = +18
6/30/11; 12:08 PM EST = +34
6/29/11; 10:41 AM EST = +18
6/29/11; 9:30 AM EST = +4
6/28/11; 10:30 AM EST = -12
6/28/11; 10:00 AM EST = -28; signal line is -30
6/28/11; 9:36 AM EST = -28; signal line is -30; go long 1285; (Benchmark SPX for 2011=+2.2%)(Keybot this trade=-0.6%; Keybot for 2011=+4.8%)(Actual this trade via DOG=-0.8%; Actual for 2011=-0.9%)

2 comments:

  1. The market bears need to see red futures come Tuesday morning. The bears simply need to stop the bleeding and will attempt a sideways move for Tuesday thru the 1319-1339 range.

    ReplyDelete
  2. Yep, the close was 1339. Bears have held the 1341 resistance for two days in a row now. See if they can maintain this ceiling at 1341, if so, markets will explore lower numbers. If the bulls punch up thru 1341, however, or simply touch it, then an accelerated move up will immediately occur with a run to 1345 and 1349, with the 1360 gap fill coming into sight.

    ReplyDelete

Note: Only a member of this blog may post a comment.