Wednesday, October 19, 2011

STOCK MARKET BULLISH -- LONG

Keybot the Quant remains long, motoring along today without printing any numbers during the session. Volatility, VIX remains elevated. The financials, XLF came down to Keybot's 12.59-12.60 area, but this support did not give way so despite the market selling today, the market bulls are fine suffering no damage.

Watch XLF 12.59, now at 12.61, only two pennies above which is market bullish. XLF will either stay 12.60 or higher allowing the bulls to enjoy the upside, or, XLF will fail under 12.59 which will usher in broad market selling. For the SPX, starting at 1210, the market bears have an advantage since a move down well into the 1206 level will result in an acceleration of the selling, down to 1204, then lower. The market bulls need 20 handles to keep the upward momo going, to touch 1230, a diffult task. A move thru 1207-1227 is sideways action.

10/31/11; 7:00 PM EST EOM =
10/30/11; 7:00 PM EST =
10/28/11; 10:00 AM EST =
10/25/11; 10:00 AM EST =
10/23/11; 7:00 PM EST =
10/19/11; 9:00 AM EST = -8; signal line is -25
10/18/11; 1:30 PM EST = -8; signal line is -26
10/18/11; 1:20 PM EST = -24; signal line is -27
10/18/11; 12:41 PM EST = -8; signal line is -27
10/18/11; 11:37 AM EST = -24; signal line is -28
10/18/11; 9:53 AM EST = -40; signal line is -30 but algorithm says stay long
10/17/11; 9:37 AM EST = -24; signal line is -31
10/16/11; 7:00 PM EST = -10; signal line is -32
10/14/11; 3:56 PM EST = -10; signal line is -34
10/14/11; 3:48 PM EST = -40; signal line is -37 but algorithm says stay long
10/14/11; 3:40 PM EST = -24; signal line is -38
10/14/11; 3:32 PM EST = -10; signal line is -40

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