Keybot the Quant remains long. The higher SOX and lower VIX won the day for bulls. Watch SOX 422.25, now at 423.20, one point on the bull side which affects the broad markets positively. Perhaps the SOX reverses since INTC laid an egg with earnings. Watch VIX 19.00, now at 18.46, one-half point on the bull side which affects the broad markets positively. Bears want to see the VIX spike above 19.
For the SPX starting at 1391, the bulls only need to see two measley points in the futures, and if the 1393 handle is touched after the opening bell, the broad markets will accelerate higher to test the 20-day MA at 1395 and then the psychological 1400 level. The bears will simply try to stop the upside momo via the SOX and/or VIX as described above. A move thru 1370-1392 is sideways action. Markets remain unstable as recent action proves. There are no more pre-scheduled numbers printing until Sunday so the market action alone dictates if the quant prints any numbers for the remainder of the week.
4/22/12; 7:00 PM EST =
4/17/12; 9:50 AM EST = +46; signal line is +9
4/17/12; 9:30 AM EST = +30; signal line is +8
4/17/12; 9:00 AM EST = +16; signal line is +8
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