Monday, October 14, 2013

STOCK MARKET BULLISH -- LONG

Keybot the Quant remains long as the new week of trading is underway. The algo prints a number at the bell as the sneaky markets flip-flop copper and commodities. JJC leaps above 40.19 creating bull fuel but GTX falls under 4888 creating bear fuel, thus, no real net change. Utilities weaken today with UTIL at a 485 handle. The critical 50-week MA is 484-ish right now and if that level fails, markets will take another leg lower (reference UTIL weekly chart and technical analysis at Keybot's sister site, The Keystone Speculator). JJC 40.19, GTX 4888 and UTIL 484 are driving the market directional ship today. SPX tests the 1691-1692 support and bounces. Market bears cannot gain mojo until a sub 1689 print occurs.

10/20/13; 7:00 PM EST =
10/17/13; 9:00 AM EST =
10/14/13; 9:30 AM EST = +50; signal line is +9
10/13/13; 7:00 PM EST = +48; signal line is +7

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.