Keybot the Quant remains long as the algo number pulls back from the overbot conditions above +80. The retail sector is beaten today, RTH drops under 58.69, now down at 58.48, so equities sell off and a lid is placed on the market upside. The bears next need financials, XLF 21.86, to gain further downside juice. XLF is printing at 22-ish. Market bulls will resume the climb higher if RTH moves above 58.69 so pay attention to any news concerning retail stocks.
If the XLF drops under 21.86, and the SPX drops under 1891, and both remain under, Keybot may flip to the short side. Thus, the caution flag is out. Bulls are maintaining low volatility (VIX) which prevents the bears from making a run lower under SPX 1891 support. Bears need a higher VIX.
5/16/14;
9:00 AM EST =
5/14/14; 9:36 AM EST
= +65; signal line is +55
5/12/14;
12:17 PM EST = +81; signal line is +53
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