Wednesday, July 31, 2013

STOCK MARKET BULLISH -- LONG -- CAUTION

Keybot the Quant remains long. The bulls pumped semiconductors yesterday allowing the markets to remain elevated. Watch SOX 471.20, VIX 14.26 and GTX 4785. All three are creating market bullishness. Any change to the bear camp will immediately weaken markets. The algo is also tracking JJC 39.00. Copper is firmly bearish creating market negativity. The bulls need stronger copper and utilities to move equities higher.

For the SPX starting the Thursday session at 1686, the bulls need to push above 1693 and that will accelerate a move higher to 1700. The bears need to push under 1682.50 to accelerate the downside. A move through 1683-1692 is sideways action. Keybot prints a pre-scheduled number this evening after the market closes. July ends today. The bulls are in charge and bears got nothing unless they can push semiconductors and commodities lower, or, volatility higher. Markets remain unstable, erratic and indecisive.

7/31/13; 7:00 PM EST EOM =
7/30/13; 10:00 AM EST = +49; signal line is +39
7/30/13; 9:31 AM EST = +50; signal line is +38

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