Keybot the Quant is long moving into the new, holiday-shortened, week of trading. The bulls will continue to float markets higher with UTIL 480.82, RTH 51.48 and XLF 19.20 all remaining in the bull camp creating upside fuel. The bears will initiate market selling if any one of the three parameters fail and accelerate the downside if more than one fails. If utilities, retail and financial sectors remain bullish, the bears got nothing.
For the SPX starting at 1606, the bulls need to touch the 1616 handle and the upside will accelerate to test the important 1618-1623 resistance area. The bears need to push under 1601 and the strong 1597-1600 support will fold like a cheap suit with price heading to the 1593 support. A move through 1602-1615 is sideways action. Markets remain erratic and unstable.
7/7/13;
7:00 PM EST =
7/5/13; 9:00 AM EST =
6/30/13; 7:00 PM EST EOM
EOQ2 EOH1 = +21; signal line is +0
6/28/13;
10:00 AM EST = +21; signal line is +1
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