Keybot the Quant remains bearish moving into the Friday session. Today is the last day of May. The algo continues to idle through the week without printing any numbers except for the pre-scheduled number on Tuesday. The same drama is in place. Bulls need to achieve either VIX 13.17 or JJC 41.54 to receive the all-clear signal for market upside. Bears need to achieve UTIL 480.65 to cause markets to sell off strongly. The broad indexes will motor along sideways until one of these three parameters make a decision.
For the SPX today starting at 1654, the bulls need to touch the 1662 handle and an upside party will result. The bears need to push under 1649 to accelerate the downside. A move through 1650-1661 is sideways action. The S&P futures are -11 at this writing four hours before the U.S. open indicating that the bears will make a run lower to begin the day. Markets remain very erratic and unstable. Keybot prints a pre-scheduled number this morning at 10 AM so the market action can be updated at that time.
6/2/13;
7:00 PM EST EOM =
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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