Keybot the Quant is long into the new week of trading. The algo is tracking five sectors right now which are dictating the broad market direction; SOX 373 (now bearish), JJC 44.95 (now bearish), GTX 4980 (now bearish), VIX 15.95 (now bullish) and XLF 15.62 (now bullish). Any chage to any of these five parameters will push the markets in that respective direction. If all five remain status quo, then markets drift sideways. RTH 43.92 is also important moving forward.
For the SPX starting Monday at 1409, the bulls only need a smidge of green in the futures and the bulls will receive another upside acceleration with the SPX immediately testing the strong 1412-1413 resistance. The bears must stop the upside momo and can do that by keeping the futures red overnight. In addition, the bears must push the SPX downwards to touch 1391, retracing Friday's up move, to regain control. This is a formidable task but not impossible. A move thru 1392-1409 is sideways action. The bulls are cruising.
12/2/12; 7:00 PM EST EOM =
11/27/12; 10:00 AM EST =
11/25/12; 7:00 PM EST = +3; signal line is -32
11/21/12; 12:38 PM EST = +3; signal line is -33
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.