Sunday, June 24, 2012

STOCK MARKET BEARISH -- SHORT -- CAUTION

Keybot the Quant remains short to start the week. The standard Sunday number prints resulting in no change. Tech should move into a summer lull but watch the SOX 384 level, now at 378.65. The broad indexes will run a leg higher if the SOX moves above 384. Watch RTH 41.27, now at 41.41, if 41.27 fails, markets will take a strong leg lower. Watch XLF 14.35, now a penny under at 14.34, which favors the market bears by a hair. If the XLF moves above 14.35, the markets will move a leg higher. Watch VIX 18.90, now at 18.11 which creates market positivity. If the VIX moves above 18.90, the markets will take a strong leg lower. Watch NYA 7668, now at 7617 which is a market negative. Bears are happy as long as the NYA stays under 7668.

For the SPX starting at 1335, the bulls need to touch the 1338 handle which will accelerate a move higher.  The bears need to push under the 1326 level to accelerate a move lower. A move thru 1327-1336 is sideways action. 

Keybot prints two pre-scheduled numbers this week, one on Tuesday morning and the other on Friday morning. Remain cautious, the bulls and bears are in the midst of a strong battle for control.

7/1/12; 7:00 PM EST EOM EOQ2 EOH1 =
6/29/12; 10:00 AM EST =
6/26/12; 10:00 AM EST =
6/24/12; 7:00 PM EST = +0 signal line +8
6/22/12; 3:59 PM EST = +0 signal line +8

2 comments:

  1. are you short or long.... I think you meant to say you are short to start the week, but, you said long. No problem. Keybot is doing a great job. Keep up the good work.

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  2. Hello Monty, yes, it is a typo, it is fixed, feel free to highlight any of those along the way. The left margin always displays the current status. Danke. Keybot, in a comical robot tone, says it was simply trying to keep everyone on their toes.

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