Keybot the Quant is bullish moving into the new week of trading which begins on Tuesday morning. Markets are closed Monday in Observance of President's Day. The +79 is an uber bullish number that indicates a top is occurring at anytime forward. The quant is tracking, in order of importance, UTIL 468.08, JJC 46.50, VIX 15.75 and RTH 45.35. All four parameters are bullish so if any of the levels are touched the markets will sell off and the number of parameters that turn bearish determines the extent of the broad market selling. If all four parameters remain bullish, the bulls are sitting back with their feet up on the desk. Watch the dollar and euro closely over the coming days. Higher dollar = lower euro = lower copper, commodities and equities, and, lower dollar = higher euro = higher copper, commodities and equities.
For the SPX beginning at 1520, the bulls need to punch through the intraday high for this year at 1524.69 and the upside will accelerate to test 1531. The bears need to push under the 1514-1515 support and that will accelerate a move to 1511, 1509 and 1505. A move through 1516-1523 is sideways action. Markets are at an inflection point. Expect the unexpected. Utilities and copper are very important.
2/24/13;
7:00 PM EST =
2/20/13;
9:00 AM EST =
2/17/13; 7:00 PM EST
= +79; signal line is +54
2/15/13;
10:00 AM EST = +79; signal line is +53
There is lot of articles on the web about this. But I like yours more, although i found one that’s more descriptive. Stock tips
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