Keybot the Quant remains short moving into the Wednesday session. UTIL closed above 494.90 finally providing a feather for the bulls cap and creating the up move in equities today. The market bulls need UTIL 496.05, GTX 4779 and/or XLF 21.45. Any 1 of these 3 will send the SPX above 1800 and higher. The bears need to focus on pushing UTIL immediately under 494.90 again, the trap-door, which will create market selling. Thus, utilities will dictate market direction with UTIL 496.05 declaring the market bulls the winner and UTIL 494.90 declaring the market bears the winner.
For the SPX starting at 1793, the bulls need to touch the 1794 handle, only about one point, and price will accelerate higher to 1800. The bears need to push under 1779.50 to accelerate the downside. A move through 1780-1793 is sideways action. Watch the utilities.
1/31/14;
10:00 AM EST =
1/28/14; 2:40 PM EST
= -14; signal line is +26
1/28/14; 2:05 PM EST
= -30; signal line is +28
1/28/14;
12:36 PM EST = -14; signal line is +31
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.