Wednesday, January 23, 2013


Keybot the Quant remains bullish.  The algo did not print any numbers in the Tuesday session.  The utilities provide high drama, ramping up all day long to attack Keybot's UTIL 466.77 in the final minutes, only to fall short, and close at 466.36, 41 pennies away.  If the bulls push thru UTIL 466.77 the SPX will receive additional bull fuel and is likely on its way to 1500+. If the bears prevent UTIL 466.77, that would be a sign that the rally has run its course and the markets will likely leak lower. Copper and commodities continue higher which helps stoke the bull furnace. Watch JJC 45.75 and GTX 4930, both are handily above these numbers causing market bullishness. The VIX remains low, under 13, and can only help the bears if it moves above 16.

For the SPX today, starting at 1493, once again closing at the highs, the bulls only need a smidge of green in the futures and it is off to the races higher. The 1496 level is very strong resistance and also the final gap fill that exists above for the SPX. The bears need to push under 1481 to create a downside acceleration to 1476. A move thru 1482-1492 is sideways action today. Remain cautious, markets are unstable and erratic. UTIL 466.77 will tell a lot after the bell rings.

1/27/13; 7:00 PM EST =
1/20/13; 7:00 PM EST = +47; signal line is +30
1/18/13; 10:00 AM EST = +47; signal line is +28

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