Keybot the Quant remains bearish as the Tuesday session motors along. UTIL drops under 504.41, but then regains this key level helping the SPX recover off earlier lows. Copper remains in the bear camp with JJC under 40.20. Thus, status quo. Keep watching UTIL 504.41 and JJC 40.20 to determine market direction. The algo is now tracking financials. XLF 20.39 is the key bull-bear level identified by Keybot. The XLF is 20.57 with a LOD at 20.49 only a dime away from causing a big leg down in equities. Watch these three parameters since they are the key drivers of equity direction currently. The SPX fell through 1762 so it accelerated lower to a LOD at 1755.56. SPX has recovered to 1764.34 and will take its cue off UTIL 504.41, JJC 40.20 and XLF 20.39. The sideways nature of markets is verified by the algo number and signal line only 2 ticks apart. The imminent turn status notation is removed but would be in immediate affect again if JJC moves above 40.20. Markets move sideways with neither side wanting the ball.
11/8/13;
9:00 AM EST =
11/5/13; 10:25 AM EST
= +46; signal line is +48
11/5/13; 9:37 AM EST
= +30; signal line is +48
11/4/13;
12:52 PM EST = +46; signal line is +49
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