Keybot the Quant remains bullish and the algo motors along on Monday without printing any numbers. The bulls are driving the bus and will gain further upside fuel if either UTIL 514.73 or JJC 39.25 is attained. The bears can stop the rally if VIX moves above 14.20. If VIX stays under 14.20, UTIL under 514.73 and JJC under 39.25, the markets will continue to float sideways with a slight upward bias.
For the SPX today starting at 1682.50, the bulls need to push above 1684.50 and the all-time high at 1687 will be attacked quickly with a move into the 1690's likely. The bears need to push under 1678, about four points lower, to stop the rally and initiate market selling. A move through 1679-1682 is sideways action for Tuesday and considering this is such a tight range, price will likely choose a side. VIX 14.20 is key and bulls have no worries with VIX under 14.
7/21/13;
7:00 PM EST =
7/17/13;
9:00 AM EST =
7/14/13; 7:00 PM EST
= +50; signal line is +11
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