Keybot the Quant is long but the drop in copper through JJC 39.21 creates concern for bulls. Copper is back in the bear camp causing market negativity. VIX is 13.44 at the highs for the day now only 74 cents from the 14.18 bull-bear line. The algo is now tracking (in addition to copper and volatility) utilities, semiconductors and commodities with interest. UTIL fell through 500 today to 498. Bulls need to push UTIL above 523 while bears need to push under 482. SOX is 476 and a drop under 471 will add bear fuel. GTX is 4867 and a drop under 4785 will add bear fuel.
The SPX dropped under 1691 this morning so a downside acceleration occurs with a LOD at 1682.58 printing as this is missive is typed. The behavior today warrants the caution flag to return. The markets will grow very ugly and Keybot may flip short if the VIX jumps above 14.18. Markets remain very unstable.
7/26/13;
10:00 AM EST =
7/24/13; 12:23 PM EST
= +50; signal line is +34
7/23/13;
10:57 AM EST = +66; signal line is +33
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