Keybot the Quant is long moving into the new week of trading. The bulls remain on easy street. To gain further market upside fuel, the bulls need to send JJC (copper) above 39.26 and/or UTIL (utilities) above 523.32. To stop the upside market rally and initiate selling, the bears must push volatility above VIX 14.19 and/or UTIL under 481.00. If UTIL stays between 481 and 423, and JJC stays under 39.26, and VIX remains under 14.19, markets should float along sideways with a slight upward bias.
For the SPX starting at 1692, closing at the highs, the bulls only need to see a smidge of green in the futures overnight, and the upside will accelerate several SPX handles after the opening bell. The bears need to push under 1684 to accelerate the downside which will likely drop price to the mid 1670's in quick order. A move through 1685-1691 is sideways action for Monday. Keybot prints one pre-scheduled number this week on Friday morning. Despite the lead by the bulls, the markets remains highly unstable and erratic.
7/28/13;
7:00 PM EST =
7/26/13;
10:00 AM EST =
7/21/13; 7:00 PM EST
= +50; signal line is +27
7/17/13;
10:57 AM EST = +50; signal line is +24
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