Wednesday, August 17, 2011

STOCK MARKET BEARISH -- SHORT -- CAUTION

Keybot the Quant clicked off an additional number before lunch and then idled along the rest of the session.  The algo remains short but has now printed four numbers in a row wanting to flip to the long side.  Other algo rules are holding Keybot back from triggering the move to the long side.  If the SPX hits 1208.47 tomorrow there is a high liklihood that Keybot will flip long.  Barring that, the algo will probably idle along sideways as the week continues.

Utilities, UTIL, danced above and below 429.81 today, closing below at 427.57. Thus, the bears are in control of the broad markets unless the bulls muster the strength to push UTIL above 429.81 anytime during the remainder of the week.

For the SPX in the Thursday session, market bulls need to drive about 14 points higher to get above 1208.47 and the buying will accelerate with the recovery rally taking off to the upside again. The market bears need to push under 1184.36, only about nine points lower, and the selling will accelerate in force, the indexes will lose several more handles quickly. A move thru 1185-1203 is sideways slop and the bull-bear standoff will continue.

8/28/11; 7:00 PM EST =
8/26/11; 10:00 AM EST =
8/21/11; 7:00 PM EST =
8/17/11; 11:52 AM EST = -72; signal line is -75 but algorithm says stay short
8/17/11; 11:08 AM EST = -56; signal line is -75 but algorithm says stay short
8/17/11; 10:31 AM EST = -72; signal line is -74 but algorithm says stay short
8/17/11; 9:59 AM EST = -56; signal line is -73 but algorithm says stay short
8/16/11; 9:00 AM EST = -72; signal line is -72
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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