Keybot the Quant is long to start the Friday trade. The Jobs Report minutes ago is met with a yawn as futures remain flatish. The pre-scheduled number just clicked off by the algorithm with no changes. Lots of excitement this week with Keybot flipping short on Tuesday only to return to the long side yesterday. Copper, JJC, will begin today at 48.81. Watch the 48.43 level. If JJC stays above the bulls will party into the weekend. If JJC fails at 48.43, the bears will increase market negativity and usher in selling action.
For the SPX, starting at 1366, the market bulls only need three points higher to touch the 1369 handle, if so, the bull party accelerates the broad markets higher and the wine is flowing ahead of the weekend. If the bears can push the SPX lower towards yesterday's low at 1352, that will accelerate the negative side, but, that may be a difficult task for bears today. A move thru 1354-1367 is sideways action. Markets remain unstable continuing the topping behavior. Watch the dollar and copper closely. The dollar is up which should usher in copper weakness (although two pennies higher as this is written) which will bring JJC lower to tease that 48.43 level where the markets will determine how the day proceeds.
3/11/12; 7:00 PM EST =
3/9/12; 9:00 AM EST = +76; signal line is +66
3/8/12; 12:04 PM EST = +76; signal line is +66; go long 1364; (Benchmark SPX for 2012 = +8.4%)(Keybot this trade = -1.6%; Keybot for 2012 = +3.1%)(Actual this trade = -1.6%; Actual for 2012 = +5.8%)
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