Keybot the Quant remains bullish. The algo continues along this week without printing any numbers thus far. The high drama with the utilities, UTIL 466.75, played out with the bulls falling short of the goal by pennies and UTIL closing at 465.17. This drama is not over, watch UTIL 466.75 again today. For the market bulls to take the broad indexes higher, they must go thru UTIL 466.75. Copper and commodities continue to provide market lift, watch JJC 45.90 and GTX 4935. The bears got nothing unless they attain one of these two numbers which would strongly kick in the downside.
For the SPX in Thursday's session, starting at 1495, the bulls need one point higher, to poke up thru 1496, key resistance and the last remaining upside gap fill from 2007 (now filled), and the upside will accelerate with the bulls next targeting 1505. The futures, however, are weak this morning due to disappointing AAPL earnings last evening. The bears need to push the SPX under 1490 to accelerate the downside to 1485-1486. A move thru 1491-1495 is sideways action today. Markets remain unstable.
1/27/13;
7:00 PM EST =
1/20/13; 7:00 PM EST
= +47; signal line is +30
1/18/13;
10:00 AM EST = +47; signal line is +28
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