Keybot the Quant is bearish as the new week of trading begins. Utility weakness signals serious trouble for markets so watch UTIL 483.00 closely. The algo is also tracking XLF 20.13, VIX 14.21 and RTH 54.00. All four of these parameters are causing market negativity. If any one of the four turn bullish, a recovery rally is on tap, however, the bulls would likely need 3 of the 4 to turn bullish to signal the all-clear for market upside again.
For the SPX starting at 1656, the bulls need to touch the 1664 handle to create an upside acceleration and begin a recovery rally. The bears only need two points lower, to push under 1653, to accelerate the downside. A move through 1654-1663 is sideways action for Monday. Keybot does not print any pre-scheduled numbers this week. The bears are cruising.
8/25/13;
7:00 PM EST =
8/18/13; 7:00 PM EST
= -15; signal line is +29
8/16/13;
12:40 PM EST = -15; signal line is +32
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