Keybot the Quant remains long, the broad markets continue to float upwards. The SPX took out Friday's closing high print at 1315.38 causing an upside acceleration. The SPX 1314-1318 strong resistance cluster appears to be folding like a cheap suit. The CRB is back above 311.50 providing today's bullish strength. The markets will remain elevated unless the CRB loses 311.50.
Watch the SPX:VIX ratio since it poked above 68. Any drop under 68 will likely trigger a strong broad market sell off. Note how Keybot keeps ratcheting up the signal line, this will make a turn to the bear side occur easily--when it decides to occur. For now, the bulls keep motoring along. Focus on CRB 311.50 and SPX:VIX 68 today to determine broad market direction. Remain cautious and stay on guard.
1/29/12; 7:00 PM EST =
1/27/12; 10:00 AM EST =
1/23/12; 9:33 AM EST = +64; signal line is +43
1/23/12; 9:21 AM EST = +50; signal line is +41
1/23/12; 8:00 AM EST = +64; signal line is +40
1/22/12; 7:00 PM EST = +50; signal line is +38
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