Thursday, May 3, 2012

STOCK MARKET BULLISH -- LONG -- CAUTION

Keybot the Quant remains long after the algo prints a lower number at the opening bell. Note that the algo number is now only three ticks away from the signal line which indicates that Keybot is starting to become itchy to move to the short side, but, not yet.  JJC failed the 48.30 at the open so the bears are running with the ball to start the day. The broad indexes are only off marginally, however, and the SPX is not near a test of the 1394 support, so a sideways move occurs. SOX is flat with a 316 handle. The CRB is dropping thru 303 which is bearish.  XLF is maintaining buoyancy helping the bulls still yet. VIX is at 17.12 favoring the bulls, the bears need to see 18.10 and higher. Keep watching JJC 48.30, the current print is 48.13, bear friendly, which helps create broad market negativity. The bears need to see SPX 1394, however, to accelerate the markets lower. Caution is required since the algo is on the bull-bear line.

5/6/12; 7:00 PM EST =
5/4/12; 9:00 AM EST =
5/3/12; 9:30 AM EST = +30; signal line +27
5/2/12; 10:40 AM EST = +46; signal line +27

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