Thursday, January 10, 2013


Keybot the Quant remains long. The algo idled into the close as the SPX melted up to the 1472 strong resistance.  The quant continues to track the same five parameters with interest. GTX tried the bull side today but returned back into the bear camp.  For the markets to continue higher, the bulls need to attain UTIL 466.22 and/or GTX 4948 .  For the markets to sell off, the bears need to touch RTH 43.75, JJC 45.65 and/or VIX 16.40. The standoff continues although GTX looks to be the most important right now. Watch to see if commodities and copper are up overnight since that will create GTX buoyancy, or not.

For the SPX on Friday starting at 1472, closing at the highs, the bulls only need to see a tiny smidge of positivity in the overnight futures and the broad indexes will accelerate higher at the opening bell.  The WFC earnings in the morning will dictate the futures. The bears must retrace Thursday's move and push the SPX under 1461, if so, a downside acceleration will occur in the markets. A move thru 1462-1471 is sideways action. WFC earnings will set the tone for Friday.

1/13/13; 7:00 PM EST =
1/10/13; 10:15 AM EST = +33; signal line is +5
1/10/13; 9:30 AM EST = +47; signal line is +4

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