Thursday, July 18, 2013

STOCK MARKET BULLISH -- LONG

Keybot the Quant remains long moving into the Thursday session. Volatility dances on each side of the critical VIX 14.19 bull-bear line in the sand causing the algo to oscillate and ratchet up the signal line. The higher the signal line the easier it is for the bears to regain market control. For now, the bulls continue to drive the bus. Bulls need to push JJC (copper) above 39.25 or UTIL (utilities) above 514.73 to gain further upside strength. The bears need to push VIX (volatility) above 14.19 or they got nothing.

For the SPX starting at 1681, the bulls need to touch the 1685 handle and an immediate test of the all-time high at 1687 will occur which will give way and send price into the 1690's. The bears need to push under 1678 to accelerate the downside to the 1672 support. A move through 1679-1684 is sideways action. VIX 14.19 dictates market direction.

7/21/13; 7:00 PM EST =
7/17/13; 10:57 AM EST = +50; signal line is +24
7/17/13; 10:46 AM EST = +36; signal line is +21
7/17/13; 10:34 AM EST = +50; signal line is +19
7/17/13; 9:00 AM EST = +36; signal line is +16

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