Keybot the Quant remains long. The week begins just like last week played out, day after day of flat action with indecisive sideways markets. Copper continues to cap any serious market upside. Watch JJC 43.70, now far under at 42.51. The quant is also tracking the CRB, now at 299. Watch CRB 291 which would indicate stress in equity markets. Above CRB 291 and the bulls are cruising. The retail sales numbers before the opening bell today will perhaps push the markets in one direction or the other to break this multi-day sideways glide path.
For the SPX today starting at 1404, the bulls need to touch the 1406 handle and a market acceleration will occur towards 1410 and 1413. The bears need to push under 1398 to accelerate the downside. A move thru 1399-1405 is sideways action. These multi-year low volume markets remain extremely unstable, erratic and require extreme caution moving forward. Desite the lull day after day, stay on guard.
For the SPX today starting at 1404, the bulls need to touch the 1406 handle and a market acceleration will occur towards 1410 and 1413. The bears need to push under 1398 to accelerate the downside. A move thru 1399-1405 is sideways action. These multi-year low volume markets remain extremely unstable, erratic and require extreme caution moving forward. Desite the lull day after day, stay on guard.
8/19/12; 7:00 PM EST =
8/17/12; 10:00 AM EST =
8/16/12; 9:00 AM EST =
8/12/12; 7:00 PM EST = +60; signal line is +44
8/5/12; 7:00 PM EST = +60; signal line is +42
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