Thursday, December 8, 2011


Keybot the Quant is long to start the Thursday session. The ECB rate decision occurs shortly, a quarter point rate cut is expected.  The algo has traveled sideways this week, verifying an overall hold pattern ahead of the late-week fun which begins now.  The E.U. Summit and weak China export data coming tomorrow will impact the markets.

Copper, JJC, tested Keybot's level of concern at 45.40 yesterday, but recovered and remained above providing a late day lift to the broad indexes.  The market bulls remain in control of the markets. The weak utilites requires close watching, however.  The utility, semiconductor, retail, financial, volatility and copper sectors continue to support the bullish buoyancy in the broad markets.

For the SPX, starting at 1261, if the 1267 handle is touched the upside will accelerate, if the 1245 level is lost and you start to see 1244 numbers printing, the sellers will enter the broad markets in force with large block selling sending indexes much lower. A move thru 1246-1266 is sideways action.

12/11/11; 7:00 PM EST =
12/9/11; 10:00 AM EST =
12/7/11; 10:49 AM EST = +22; signal line is -22
12/7/11; 10:34 AM EST = +6; signal line is -25
12/4/11; 7:00 PM EST = +22; signal line is -27
12/2/11; 9:00 AM EST = +22; signal line is -30

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