Keybot the Quant remains short. Big upward thrust at the open immediately pushes VIX, XLF and RTH back into the bull camp. Note that the algo number is now within five points of the signal line so the bulls are trying their hardest to turn things around. However, utilities, semiconductors, and especially copper and commodites remain firmly bearish continuing to keep a lid on any upside move.
The SPX took out the 50-day MA minutes ago so this gives the bulls some credibility. The markets are receiving a recovery bounce today but the bears remain in control. Markets remain unstable. The caution flag is in place again.
4/15/12; 7:00 PM EST =
4/13/12; 10:00 AM EST =
4/11/12; 9:30 AM EST = +14; signal line is +19
4/10/12; 3:46 PM EST = -32; signal line is +21
4/10/12; 3:33 PM EST = -16; signal line is +24
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