Keybot the Quant remains bearish and has not printed any numbers this week except for the pre-scheduled number on Tuesday. Watch JJC 41.55, VIX 13.15 and UTIL 480.65. Copper and volatility, JJC and VIX, respectively, are causing market bearishness right now so the bulls need to attain one of the values listed to start the markets higher again. Utilities, UTIL, are causing market bullishness right now so the bears need to push UTIL under 480.65 to receive strong downside momo. Yesterday, UTIL failed but only for a couple minutes before quickly recovering. The broad indexes dodge a bullet since many algo's will click in to the downside with accelerated market selling if UTIL 480.65 fails.
For the SPX starting at 1648, bulls and bears both need an 8 point swing in their favor to claim victory. The bulls need to move up through 1656 and touch the 1657 handle to accelerate the upside and the bears need to push under 1640 to accelerate the downside. A move through 1641-1656 is sideways action. In a nutshell, the bulls need higher copper and lower volatility while the bears need lower utilities. Markets remain unstable.
5/31/13;
10:00 AM EST =
5/28/13; 10:00 AM EST
= +33; signal line is +42
5/26/13;
7:00 PM EST = +32; signal line is +42
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