Keybot remains short, clicking a number off after the open, moving the algorithm lower. The SPX:VIX ratio is under 68, as long as that remains, the sell off will be large numbers today, and weakness will continue. That said, the neutral TRIN, now at 1.13, has oscillated between 0.9 and 1.1 so far in the session, definitely not the high number you would expect during a big selling event like the open was, therefore, this hints that the markets want to moderate into buoyancy again. If you see the TRIN increase today, up thru 1.5, 2.0, well, the selling will be strong, but, so far this does not appear to be the case.
The NYA dropped under the 40 week MA again to signal a return to a secular bear market for the indexes. Utes now demand very close watching. UTIL now with a 422 handle and within three points of hitting the danger 418 level for this week. If UTIL falls below 418 at anytime today or tomorrow, the markets are in serious trouble and will fall substantially. Barring a failure of the UTIL 418 level, markets should moderate sideways. Watch the TRIN, now at 1.18.
7/10/11; 7:00 PM EST =
7/8/11; 10:00 AM EST =
7/3/11; 7:00 PM EST =
6/30/11; 7:00 PM EST EOM =
6/28/11; 10:00 AM EST =
6/26/11; 7:00 PM EST =
6/23/11; 9:31 AM EST = -42
6/22/11; 2:41 PM EST = -28; signal line is -30 but algorithm says stay short
6/22/11; 1:30 PM EST = -14; signal line is -30 but algorithm says stay short
6/22/11; 1:08 PM EST = -28; signal line is -30 but algorithm says stay short
6/22/11; 12:52 PM EST = -14; signal line is -30 but algorithm says stay short
6/22/11; 12:01 PM EST = -28; signal line is -29 but algorithm says stay short
6/22/11; 11:03 AM EST = -14; signal line is -28 but algorithm says stay short
6/22/11; 9:30 AM EST = -28
6/21/11; 2:44 PM EST = -12; signal line is -28 but algorithm says stay short
6/21/11; 9:30 AM EST = -28; signal line is -28
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