The bull-bear struggle continues. Very simply, if the market bulls move UTIL above 452.66 today, the upside bullishness will continue along moving forward. If the market bears push CRB under 309.50, the downside bearishness will continue along and Keybot will likely flip short. For the closing print today, see if UTIL closes above 453.69, or not. The 453.69 is the UTIL number to watch next week which will influence markets bullishly or bearishly, depending on whether the number is above or below 453.69, respectively. Thus, the closing number for UTIL at 4 PM today is important.
For the SPX today, starting at 1326, the market bulls only need three points higher to move above 1329 to set off extended upside. The positive lift in the futures shows this to be a done deal at this juncture, so the upside will run much higher, the resistance levels of 1331 and 1333 should be tested quickly. SPX 1333 likely to see a lot of action today. The market bears need a move down under the 1322 handle to gain any downside momo. A move thru 1323-1328 is sideways action.
The bulls look to continue the upside fun today--watch UTIL 452.66 to see if it confirms further bullishness ahead, or not. Markets remain highly unstable experiencing this upside rally on low volatility and low volume. Caution is warranted.
2/12/12; 7:00 PM EST =
2/5/12; 7:00 PM EST =
2/3/12; 9:00 AM EST = +48; signal line is +49 but algorithm says stay long
1/31/12; 7:00 PM EST EOM = +48; signal line is +48 but algorithm says stay long
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