Keybot the Quant remains short into the Thursday session. The algorithm has not printed a number since the move to the short side on Tuesday morning and a whipsaw has not occurred as yet. UTIL is three points below 481.36, a key number the quant is tracking this week, so the bears remain in good shape. The bulls need to push UTIL back above 481.36. Watch VIX 16.90, JJC 46.35 and RTH 44.50, all three are contributing bullishly to markets. If any of the three move across the numbers shown, the broad markets will take another leg lower.
For the SPX, starting at 1433, the bears only need to drop under 1431 to create a downside acceleration that would likely test the 50-day MA at 1426 and strong support at 1424. The bulls need to push above 1442.50 which would create an upside acceleration and a chance for the bulls to push UTIL above 481.36. A move thru 1432-1441 is sideways action today. Stay alert. The four parameters listed above are determining broad market direction. At this writing, the S&P futures project a five point gain for the SPX after the U.S. opening bell in about five hours time.
10/14/12; 7:00 PM EST =
10/12/12; 10:00 AM EST =
10/9/12; 10:42 AM EST = +44; signal line is +57; go short 1452; (Benchmark SPX for 2012 = +15.4%)(Keybot this trade = -0.1%; Keybot for 2012 = +15.2%)(Actual this trade = -0.1%; Actual for 2012 = +8.8%)
I'll tell you what my wife tells me - though you probably find all this as exciting as I do each day - but you should try to sleep in more.
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