Friday, September 7, 2012

STOCK MARKET BULLISH -- LONG -- CAUTION

Keybot the Quant remains long. The market bulls were in cruise mode yesterday as the ECB delivered a bazooka of easy money. The algo number, however, is only 14 points above the signal line, despite all the upside market euphoria, and can easily flip back to the bear side at any time. Nearly all indications are in the bulls favor right now, the quant continues to track UTIL 467.35 with interest. UTIL is 472.53 five points above this danger level.

For the SPX on Friday, beginning the day at 1432, the bulls only need to see a tiny smidge of green in the futures and this will create an upside acceleration at the opening bell.  The SPX will move higher to attack the important 1440 resistance level. The futures show the spoo's up four points as this is typed.  The bears are simply trying to stop the upside momo today and that begins with red futures, and then attempting to drive the utilities sector lower. A move thru 1405-1432 is sideways action today. The markets are erratic and unstable. A pre-scheduled number prints in about four hours so the market action can be updated at that time.

9/9/12; 7:00 PM EST =
9/7/12; 9:00 AM EST =
9/6/12; 9:31 AM EST = +76; signal line is +62
9/6/12; 9:30 AM EST = +44; signal line is +62 but algorithm says stay long

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