Keybot the Quant remains long. The fourth day occurs this week without the algo printing any numbers. This verifies the ongoing sideways bull-bear struggle. Make no mistake, copper has prevented the markets from going higher frustrating the bulls. Keybot continues to track JJC 43.75 as the level the bulls need where the entire broad markets will lock in sustainable upside. Without JJC 43.75, the market bulls got nothing.
The SPX punched up thru 1404 today but could not hold above, after several minutes each time slipping back below. This action hints that the bulls are running out of gas since a stronger thrust should have occurred above 1404 today. For Friday, starting at 1403, the bulls only need to touch the 1406 handle, and that will trigger an upside acceleration move with JJC pushing towards 43.75 and the bulls making a major market move higher. The bears need to drop under 1398 tomorrow and the downside will accelerate with the SPX heading to 1391 in short order. A move thru 1400-1405 is sideways action. Note the tight sideways range, therefore, one side or the other is going to make a move. Markets are extremely indecisive, erratic and unstable. Extreme caution is required.
8/12/12; 7:00 PM EST =
8/5/12; 7:00 PM EST = +60; signal line is +42
8/3/12; 9:30 AM EST = +60; signal line is +41; go long 1377; (Benchmark SPX for 2012 = +9.5%)(Keybot this trade = -1.2%; Keybot for 2012 = +9.2%)(Actual this trade = -3.3%; Actual for 2012 = +2.5%)
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