Keybot the Quant remains long as the clock runs out for the Monday session. The algo printed three numbers today and wants to flip to the short side but their are internal programming rules that remain unsatisfied, so, we wait for tomorrow.
The semiconductor weakness is a big deal today. If SOX stays below 410.10, now at 409.65, then the market bears will resume today's selling. The market bulls need to move the SOX back above 410.10 to regain control.
For the SPX for Tuesday, starting at 1364.33, if the 1359 level is lost, the bears will finally be able to push the markets substantially lower. The bulls need to touch 1370, if so, the upside will accelerate, the SOX will surely be back above 410.10 and the bulls will be back in control. A move thru 1361-1368 is sideways action. A turn appears imminent and if the SPX loses the 1359 level, Keybot will likely flip to the short side. Tomorrow we find out if the bulls can save the day again, or not.
3/11/12; 7:00 PM EST =
3/9/12; 9:00 AM EST =
3/5/12; 3:46 PM EST = +60; signal line is +68 but algorithm says stay long
3/5/12; 3:02 PM EST = +76; signal line is +67
3/5/12; 12:21 PM EST = +60; signal line is +66 but algorithm says stay long
3/4/12; 7:00 PM EST = +76; signal line is +66
Note Added 3/6/12 at 7:08 AM EST: The S&P futures are strongly lower for today's open. At this juncture, SOX would be expected to weaken further and SPX should break down thru 1359. The opening should prove dramatic. If the SPX stays under 1359 for about ten minutes, Keybot will likely have flipped to the short side. A broad market turn appears imminent.
Note Added 3/6/12 at 7:08 AM EST: The S&P futures are strongly lower for today's open. At this juncture, SOX would be expected to weaken further and SPX should break down thru 1359. The opening should prove dramatic. If the SPX stays under 1359 for about ten minutes, Keybot will likely have flipped to the short side. A broad market turn appears imminent.
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