Keybot the Quant is long but the markets remain a coin-toss. Equities are erratic and unstable fighting for a direction forward and can go either way. The algo number is only three ticks from the signal line showing that markets are in a tug-o-war right now. Yields popped late afternoon yesterday which sent utilities lower. UTIL failed the 488.48 line which makes for happy bears, but, is above the 481.15 line which makes for happy bulls. Watch 488.48 and 481.15 closely today. Watch GTX 4764, commodities, with price only a few ticks above favoring the bulls. If GTX drops under 4764 today, it will create market negativity. Keybot should whipsaw back to the short side today if either the UTIL 481.15 or GTX 4764 fails, and the SPX drops under 1631. If UTIL stays above 481.15 and GTX above 4764, the bulls will continue driving the bus.
For the SPX starting at 1639, the bulls need about 7 or 8 points of upside, to punch up through 1646.50, and the upside will accelerate with an immediate test of the important 1649-1650 resistance occurring. The bears need to push under 1631 to accelerate the downside which will test 1626-1627 support in quick order. A move through 1632-1645 is sideways action today. Keybot prints a pre-scheduled number at 9 AM so the action can be updated at that time.
6/23/13;
7:00 PM EST =
6/18/13;
9:00 AM EST =
6/17/13; 2:15 PM EST
= +33; signal line is +30
6/17/13;
1:03 PM EST = +49; signal line is +31
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