Keybot the Quant is long thru the weekend. High drama is occurring since the algo number is on top of the signal line. The quant is poised to turn to the short side--but not yet. The market bears had the markets within their grasp during Friday afternoon. If the NYA would have dropped under 7750, the markets would have sold off substantially. But, the bulls kept the NYA above 7750 preventing market failure. This drama will immediately pick up again as soon as the Monday bell rings. For a longer term cyclical bull versus bear market signal, the NYA 40-week MA cross is very important. This moving average is represented by the 7749-7750 number and the NYA closed at 7759, only nine points above which influences the markets bullishly. Thus, NYA 7750 is key for Monday, as well as copper and financials, but the areas and levels of interest can be highlighted tomorrow after the standard pre-scheduled Sunday print occurs. The bulls continue to drive the bus although the ride is now becoming very bumpy, shaky and unsure. A turn may be imminent.
7/22/12; 7:00 PM EST =
7/20/12; 9:45 AM EST = +28 signal line is +28 but the algorithm says stay long
7/20/12; 9:30 AM EST = +44 signal line is +27
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.