Keybot the Quant remains short. The algo is motoring along without printing any numbers since Wednesday. Retail stocks fell off a cliff so you knew the broad stock market was in trouble. Volatility and utilities are key. The market bears need VIX above 14.42 to guarantee market carnage ahead. If the VIX does not move above 14.42, the bulls have no worries.
Remember last weekend the utilities were mentioned especially as to how they close today. Go back and read that again. The key bull-bear level this week is UTIL 656.28. Utes have remained comfortably above this level so utilities are supporting the broad stock market. The bull-bear line in the sand for next week is UTIL 672.35. Price is at 667.51; a failure. The 672.35 is not applicable, however, until the closing bell sounds today so keep an eye on it. If UTIL finishes under 672.35 today, then stocks will likely take another leg lower on Monday. The beat goes on.
9/11/16;
7:00 PM EST =
9/7/16; 9:36 AM EST =
+50; signal line is +64
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