Keybot the Quant remains bullish and idled along in the Thursday session without printing any numbers. The bulls are fighting to push copper, JJC above 39.47, if so, that will lead the way to SPX 1700. The bears are fighting to push volatility, VIX, above 14.27, if so, that will signal a return of market selling. For the SPX starting at 1675, a new all-time closing high, the bulls need to touch the 1677 handle and it will be off to the races higher with price targeting the all-time high at 1687. The bears need to retrace yesterday's move which is a difficult task so they will focus on pushing volatility higher to lock in market weakness moving forward. A move through 1658-1676 is sideways action today. The bulls are cruising. Pay attention to VIX 14.27 since it is the main rudder for the market ship in the Friday session. Keybot prints a pre-scheduled number this morning after the opening bell so the action can be updated at that time.
7/14/13;
7:00 PM EST =
7/12/13;
10:00 AM EST =
7/10/13; 4:00 PM EST
= +49; signal line is +6
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