Keybot the Quant remains long. Commodities and copper will continue to dictate broad index direction. Watch JJC 45.68 (price is now under causing bearishness) and GTX 4935.50 (price is now under, by pennies, causing bearishness). Copper is up this morning as this message is typed which would send JJC higher. The algo wants to go short but the proper pieces have not fallen into place as yet.
For the SPX on Thursday starting at 1473, the bulls only need one point higher, to touch the 1474 handle and that will accelerate the upside. The bears need to push under 1468 to accelerate the downside. A move thru 1469-1472 is sideways action. Keybot prints a pre-scheduled number before the opening bell. The bulls remain in charge, however, if JJC and GTX remain bearish as described above, and the SPX drops under 1468 heading lower, Keybot will likely flip to the short side.
1/18/13;
10:00 AM EST =
1/17/13;
9:00 AM EST =
1/16/13; 3:52 PM EST
= +17; signal line is +22 but algorithm says stay long
1/16/13; 3:00 PM EST
= +31; signal line is +20
1/16/13;
12:02 PM EST = +17; signal line is +19 but algorithm says stay long
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