Thursday, July 28, 2011


Keybot motors along on the short side. Two numbers printed during the last hour of trading, after which the markets tumbled into the close.  All day went by but the bears finally pushed the SPX under 1303.50 to get the ball rolling downhill into the close.

The algorithm is comfortably short now but as seen today, things can change fast.  A debt ceiling agreement can potentially launch the markets skyward. Utilities and copper are the only bullish sectors trying to stop the bleeding in the broad markets.

The SPX closed at 1301.  For the Friday session, if the bulls can pull together 15 points and move above 1316, this is enough to convince the buyers to come in force, the indexes will accelerate higher.  All the market bears have to do is push the SPX a point and a half lower to touch a 1298 handle; that is the all clear signal for the bears to stab downward.  The 1297 gap will be filled and the SPX will drop in short order to test 1295, 1292 and perhaps 1289.  1289 is also the current 10 month MA; key support.  Sideways action is reflected by the 1299-1315 range. 

A pre-scheduled number clicks off at 10 AM. Markets remain unstable and also under the erratic affects of the Bradley major turn window.Stay on guard.

7/31/11; 7:00 PM EST EOM =
7/29/11; 10:00 AM EST =
7/28/11; 3:21 PM EST = -26
7/28/11; 3:17 PM EST = -10
7/28/11; 10:05 AM EST = +4; signal line is +17
7/28/11; 9:30 AM EST = -10
7/27/11; 3:46 PM EST = -26
7/27/11; 2:27 PM EST = -12
7/26/11; 10:00 AM EST = +4; signal line is +24
7/25/11; 9:30 AM EST = +4; signal line is +24

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