Keybot the Quant remains long but a change may be in the air. With all the bullish action yesterday, the bulls could not push UTIL up thru 453, specifically 452.66. This is a feather in the bear's cap. The key this morning, and trading begins shortly, is the commodities index, CRB. If CRB drops under 309.50, Keybot will likely flip short.
For the SPX, starting at 1324, if the bulls push above 1330.50, the upside bull party will accelerate. With futures flat to lower, and the vibe feeling negative today, at least for the open, this bull scenario is challenged. The market bears need to push under the 1313 handle and that will ignite an accelerated downward slide in the broad markets. Thus, 13-13 is truly an unlucky number for the SPX and markets today. A move thru 1314-1329 is sideways action.
Markets remain highly unstable. Expect a turn by Keybot at anytime. CRB 309.50 is the key.
2/5/12; 7:00 PM EST =
2/3/12; 9:00 AM EST =
1/31/12; 7:00 PM EST EOM = +48; signal line is +48 but algorithm says stay long
1/31/12; 10:00 AM EST = +48; signal line is +48 but algorithm says stay long
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