Friday, July 26, 2013

STOCK MARKET BULLISH -- LONG -- CAUTION

Keybot the Quant remains long moving into the Friday session. Copper and volatility remain the two key influences on market direction. JJC is jumpy moving higher into the closing bell yesterday which carried equities higher. Likewise, volatility was beaten into the closing bell creating market lift. Watch JJC 39.22 and VIX 14.18. JJC is only pennies away from moving into the bull camp and creating market upside, however, copper is trading down near -1% in early trading. Bulls win with JJC 39.22. Bears win with VIX 14.18.

The algo is also tracking semiconductors. Watch SOX 470.70 as the bull-bear line in the sand. Equities will weaken and a clear selling pattern will begin if semiconductors lose the SOX 470.70 level. For the SPX today starting at 1690, the bulls have the easy road, only needing one point after the opening bell, to punch up through 1691 and the SPX begins the trek to 1700+ again. The bears need to push under 1680 to accelerate the downside. A move through 1681-1690 is sideways action to end the week. S&P futures are -4 as this missive is typed. Keybot prints a pre-scheduled number at 10 AM so the action can be updated at that time.

7/28/13; 7:00 PM EST =
7/26/13; 10:00 AM EST =
7/24/13; 12:23 PM EST = +50; signal line is +34

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