Tuesday, January 29, 2013
STOCK MARKET BULLISH -- LONG
Keybot the Quant remains long. There appears to be nothing that can stop the raging bull. UTIL and JJC exploded higher this morning creating the upside orgy today. UTIL 467.25 and JJC 45.85 remain important. Also VIX 16. The bulls will take the SPX far higher if UTIL 483 gives way this week, or, 475 next week, and UTIL sits at 473 right now. It's all going the bulls way.
For the SPX for Wednesday starting at 1508, the bulls only need one point, to punch up thru 1509 and hold for a few minutes and an upside acceleration will occur thru the strong 1511 resistance. The bears need to push under 1498 to accelerate the downside thru the 1495-1496 strong support. A move thru 1499-1508 is sideways action. Considering the big leap higher in utes and copper today, the caution flag is removed for now. Stay alert as the bulls are simply running higher unchallenged.
1/31/13; 7:00 PM EST EOM =
1/29/13; 10:00 AM EST = +63; signal line is +40
1/27/13; 7:00 PM EST = +63; signal line is +40
Posted by Keybot the Quant™ at 1/29/2013 07:37:00 PM