Keybot the Quant is long going into the Thursday session. Markets continue to stumble along indecisively sideways. The quant is now flagging the utilities sector as a potential problem area. Copper remains weak and prevents the bulls from making any headway higher.
The SPX continues to move thru the sideways 1399-1406 range. For the SPX, starting at 1406, the bulls need to touch the 1408 handle to ignite a strong upside move that will hit 1413 in quick order. The bears need to push under 1402 and a downside acceleration will occur. A move thru 1403-1407 is sideways action. Markets remain unstable. The action can be updated before tomorrow's opening bell since a pre-scheduled number prints at 9 AM.
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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