Keybot the Quant remains long and continues to simply idle along each day without printing any numbers. The utilties sector does not want to go up, and the commodities do not want to come down, hence, a market standoff, and each day the market bulls float the indexes upwards. Futures are lower as this is written so perhaps today's session will provide some excitment in front of the weekend.
Watch CRB 310.50 and UTIL 453.69 to gauge the bull versus bear advantage. UTIL is now under the 453.69 so bears are happy while CRB is now above the 310.50 which makes bulls happy. One of these will crack and show the broad market direction moving forward. For the 4 PM print to end the day today, pay attention to UTIL and the 451.17 number. The quant was watching 453.69 this week; next week it will be watching 451.17. Thus, if UTIL closes above 451.17 today at 4 PM, the market bulls will be favored to begin Monday. If UTIL closes today under 451.17, the market bears are gaining strength and easily capable to push the broad markets lower as next week begins.
For the SPX, starting at 1352, if price is pushed above 1354, the upside will accelerate in the never-ending bull rally. If the market bears can lose the 1345 handle, about seven points lower, the broad indexes will sell off in force. Note that the futures are projecting about a seven or eight handle drop at the open, thus, the robots are already fixating on this 1345-ish area for a fight. A move thru 1346-1353 is sideways action.
Keybot prints a pre-scheduled number at 10 AM this morning, so the action can be updated at that time. Markets are highly unstable currently. A turn appears imminent.
2/12/12; 7:00 PM EST =
2/10/12; 10:00 AM EST =
2/5/12; 7:00 PM EST = +48; signal line is +49 but algorithm says stay long
2/3/12; 9:00 AM EST = +48; signal line is +49 but algorithm says stay long
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