Keybot the Quant remains long and the algo wastes no time in clicking off another number today that bolsters the bull case. The NYA moved above 7748 which creates the market thrust higher. The SPX is fighting to move thru the 1358-1360 resistance gauntlet. Today's action is entirely dependent on Chairman Bernanke, and he is on deck to appear shortly. Use the NYA 7748, JJC 44.20, CRB 293.80 levels to forecast market direction today. If all three remain bullish as they are right now, the markets will continue to float upwards. If any of the three turn bearish, the markets will start to leak lower. The caution flag should be removed since the bulls are cruising, however, Bernanke has the ability to immediately change the market mood in a heartbeat today.
7/22/12; 7:00 PM EST =
7/18/12; 9:00 AM EST =
7/17/12; 9:30 AM EST = +60 signal line is +19
7/16/12; 3:37 PM EST = +46 signal line is +18
7/16/12; 2:35 PM EST = +60 signal line is +17
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