Tuesday, August 23, 2011

STOCK MARKET BEARISH -- SHORT -- CAUTION

Keybot wants to flip long but still requires certain algo rules to fall into place; we will see what today holds. The algo probably wants to see about 20 spoo's upside before flipping long and this morning's futures, although up, are not up that far as yet. Watch the utes today, they are key; UTIL begins at 415.11.  If 414.42 is lost, the markets will tumble large. If 414.42 is defended, the broad markets will continue along developing a recovery rally.

For the SPX today, the market bulls need to move up to touch 1145 to pull out of the duldrums. That will signal the all clear for buyers to jump in and the SPX will move up towards 1155 in short order. For the bears, a couple points lower is all that is needed to usher in accelerated selling. If 1121 is lost and an 1120 handle is touched, the bottom will fall out for and the indexes will drop quickly, the SPX moving down towards 1101. A move thru 1122-1144 today is sideways indecision.

9/4/11; 7:00 PM EST =
9/2/11; 9:00 AM EST =
8/31/11; 7:00 PM EST EOM =
8/30/11; 10:00 AM EST =
8/28/11; 7:00 PM EST =
8/26/11; 10:00 AM EST =
8/22/11; 12:43 PM EST = -72; signal line is -78 but algorithm says stay short
8/22/11; 12:33 PM EST = -88
8/21/11; 7:00 PM EST = -72; signal line is -77 but algorithm says stay short
8/17/11; 11:52 AM EST = -72; signal line is -75 but algorithm says stay short

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