Keybot the Quant stays on the short side as the algo prints two numbers after today's opening bell as well as the pre-scheduled number minutes ago. The utes, UTIL, moved above the 50 week MA giving the bulls hope for a continued rally, but, UTIL lost the level a short time ago favoring the bears again. UTIL now at 413.30 is only 40 cents under where the bulls can go into rally mode. If UTIL stays under 413.70-ish today, the bears will rule the day overall.
SPX came up to tag the 1186 level but in a minute it failed. Thus, continue to watch 1186 as another signal that the bulls will run. If the SPX cannot get above 1186 today, the bulls have nothing, if they move above 1186, the buyers will come into the markets in force pushing the indexes immediately upwards. SPX:VIX ratio, now at 32, remains under the important 35 level. Bulls got nothing unless they can get this ratio above 35 which will indicate a huge up day on tap. If the ratio stays under 35 as it currently is, the bears will continue to rule these broad markets.
8/21/11; 7:00 PM EST =
8/16/11; 9:00 AM EST =
8/14/11; 7:00 PM EST =
8/12/11; 10:00 AM EST = -88
8/12/11: 9:59 AM EST = -88
8/12/11: 9:30 AM EST = -72; signal line is -47
8/11/11: 3:58 PM EST = -88
8/11/11: 3:31 PM EST = -72; signal line is -39
8/8/11: 9:30 AM EST = -88
8/7/11; 7:00 PM EST = -72; signal line is -32
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