Keybot the Quant is on the short side through the weekend. The weaker utilities and higher volatility caused the bulk of the market weakness on Friday and will be important come Monday. The two key UTIL numbers the algo is tracking for next week are 483.57 (50-week MA) and 471.77 (the closing print 15 weeks ago) so bulls will receive a lift with an easy beat staying above 472 after the opening bell rings. This action will likely place the algo on imminent turn status again. The financials, XLF 20.01, will likely carry the clout and decide overall broad market direction forward. Bulls recover and move equities higher if they keep financials elevated but the markets will begin tumbling lower in earnest if XLF fails at 20.01. Other areas and levels of interest can be identified once the algo prints the Sunday pre-scheduled number tomorrow.
9/29/13;
7:00 PM EST =
9/27/13; 11:51 AM EST
= +18; signal line is +45
9/27/13;
10:37 AM EST = +32; signal line is +46
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.