Wednesday, June 6, 2012

STOCK MARKET BEARISH -- SHORT -- CAUTION

Keybot the Quant is short but the algo number is now only seven points away from wanting to flip to the long side.  The SPX moved above the 12-month MA today which is a very important development.  A back kiss was in order but instead of price tapping and dropping, price moves higher. This is a big win for short term bulls.  The retail sector, RTH, is key again, remember a few days ago when the algo targeted RTH? Here we are again. RTH 41.00 is the magic level.  RTH is now printing a single hair away at 40.99.

Also of import today is the HOD for the SPX at 1303.50, watch it closely. If the RTH 41 is taken out to the upside and the SPX keeps printing new highs today, Keybot will likely flip long. SPX is currently printing 1302.60.

6/10/12; 7:00 PM EST =
6/6/12; 9:30 AM EST = -30 signal line -23
6/3/12; 7:00 PM EST = -44 signal line -22

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