Keybot the Quant remains short as the new trading week begins. The algo clicked off a number directly after the opening bell this morning bringing the algo number only two ticks away from the signal line. This warrants a caution designation in the blog post title since the bull market recovery rally is on the verge of confirmation by Keybot--but, not yet.
The SPX touched the 1189 handle after the open which set off a firestorm of buying. UTIL moved above the 413.7-ish area. The SPX:VIX ratio moved above 35. All three of these indicators confirm the bull rally move today. Further confirmation is needed for the recovery rally with a drop in volatility; volatility currently remains elevated. Markets remain unstable and sit on pins and needles ahead of the Sarkozy/Merkel France/Germany summit tomorrow.
8/28/11; 7:00 PM EST =
8/26/11; 10:00 AM EST =
8/21/11; 7:00 PM EST =
8/16/11; 9:00 AM EST =
8/15/11; 9:30 AM EST = -72; signal line -70
8/14/11; 7:00 PM EST = -88; signal line -68
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