Keybot the Quant remains short through the weekend. The algo motors along Friday without any of the 4 key parameters mentioned previously changing their stripes, thus, the markets stagger sideways. Note how UTIL used 506.22 as a resistance ceiling all day long and then honed in on the 504.41 (an important bull-bear line in the sand for all of next week) into the closing bell ending at 504.65. It is amazing how Keybot identifies these numbers ahead of time. This provides the bulls a slight advantage come Monday morning--as long as UTIL stays above 504.41. This number is not too much of a mystery. You always want to watch the UTIL weekly closing print from 15-weeks ago and for next week this number is 504.41. Most algo's and robots have it programmed, and the late-day action shows you that the computers rule the markets.
Copper moves flat with JJC above 40.20 so this maintains market buoyancy. The sectors and other areas of interest for next week, and price levels, can be identified once the Sunday pre-scheduled number prints tomorrow. Bears need UTIL under 504.41 and/or JJC under 40.20 on Monday, otherwise, the bulls are going to take the ball back.
11/3/13;
7:00 PM EST =
10/31/13; 7:00 PM EST
EOM = +46; signal line is +54
10/30/13;
1:17 PM EST = +46; signal line is +54
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