Wednesday, June 20, 2012

STOCK MARKET BULLISH -- LONG

Keybot the Quant is long and the algorithm is cruising on the bull side; the algo number far above the signal line. Any initial cracks in the bull party would first form if the semiconductors give up their bullish move from yesterday.  Watch SOX 384.00, now at 384.94. If 384 fails, then the bears are fighting back, otherwise, the bulls have their feet up on the desk with no worries. Also watch NYA 7671, now at 7766; XLF 14.35, now at 14.50; and VIX 18.90, now 18.38 (which is bullish for markets-volatility moves inversely to markets). All four items above are creating the market positivity and are currently being tracked by Keybot as the main real-time influences on the broad indexes. The utilities, UTIL, were negative yesterday. Watch the utes closely moving forward since any large market down move typically begins with the utes weakening.

For the SPX today starting at strong S/R at 1358, the bulls need to push five and one-half points higher to keep the party alive. If the bulls touch 1363.50, another strong up leg will occur for the broad indexes.  The bears are simply trying to stop the upside momo and will focus on pushing one or more of the four items listed above to the negative side. If the bears can push the SPX under 1345, a strong accelerated move to the downside will occur for markets. A move thru 1346-1362 is sideways action today.

6/24/12; 7:00 PM EST =
6/19/12; 9:59 AM EST = +46 signal line -13
6/19/12; 9:52 AM EST = +30 signal line -15

1 comment:

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