Tuesday, February 19, 2013


Keybot the Quant is long and does not print any additional numbers today after this morning's print. It is very surprising and uncharacteristic market behavior to see copper take such a dramatic fall today and the SPX to run higher and punch out new highs. The SPX punched through the 1524.69 previous high so the run to 1531 resistance occurred and that is exactly where price stopped for the evening. The VIX was flat today, finishing down one percent, but would have been expected to be down about 3% considering the upside market move. Watch UTIL 468 (now bullish), JJC 46.50 (now bearish) and GTX 4930 (now bullish). The bulls will be in full control if they bring JJC back above 46.50. The bears need a higher dollar and lower euro which will drag JJC and GTX lower.

For the SPX, starting at a new yearly high at 1531, the bulls only need to see a smidge of positivity in the overnight futures and the upside will accelerate further to test 1540 resistance.  Above that is strong R at 1548 and 1553. The bears need to push under 1520, eleven points lower, to regain their momo, a formidable task but not at all impossible. A move through 1521-1530 is sideways action. Keybot prints a pre-scheduled number at 9 AM tomorrow so the action can be updated at that time.

2/20/13; 9:00 AM EST =
2/19/13; 9:37 AM EST = +63; signal line is +56
2/17/13; 7:00 PM EST = +79; signal line is +54

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