Monday, December 5, 2011


Keybot the Quant remains long, calmly idling along all day without printing any numbers. The market bulls remain in control of the indexes. The SPX 1260 gave way as described in the previous missive so several more upside handles were explored, before 1267 smacked it back down with the SPX closing under the starting year number of 1257.64.

Watch JJC, copper, now at 45.70. If the 45.25 level is lost, the broad markets will weaken. Otherwise, markets will remain buoyant. Utes, semi's, financials, retail, lower volatility and copper are all supporting the market bulls currently. For the SPX on Tuesday, starting at 1257, if the 1267 handle is touched the upside will accelerate like this mornings early action after the bell.  If the market bears push lower to touch 1244, the broad market selling will accelerate. A move thru 1245-1265 is sideways churn. The bulls remain on cruise control, for now.

12/11/11; 7:00 PM EST =
12/9/11; 10:00 AM EST =
12/4/11; 7:00 PM EST = +22; signal line is -27
12/2/11; 9:00 AM EST = +22; signal line is -30
12/1/11; 1:42 PM EST = +22; signal line is -32

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