Keybot the Quant remains long thru the entire month of January. The algo idled along yesterday without printing any numbers after the pre-scheduled number. Copper and utilities remain elevated supplying bull fuel. Volatility finally shows signs of life moving up over 14 which encouraged the bears yesterday. The quant is now tracking the VIX and looking at 16 as the bull-bear line in the sand. UTIL 467.26 remains important thru this week and utes are comfortably six points above. Moving into the Friday close at 4 PM EST, the UTIL 475.49 number is important and will play a key role next week, thus, if you see UTIL moving above 475.49 as this week closes out, this is a sign that the bulls will continue to rock higher next week. However, if UTIL starts to drift lower and closes this week under 475.49, the bears would be encouraged. Of course, at any time, if UTIL drops under 467.26, strong selling will enter the markets.
For the SPX in the Thursday session, the last day of January, starting at 1502, the bulls need to touch 1510 and an upside acceleration will occur with the SPX on its way to the 1520's. The bears need to push under 1500, only two points lower, and a downside acceleration will occur testing the strong 1495-1496 support in quick order. A move thru 1501-1509 is sideways action today. UTIL 467.26 and VIX 16 are important.
1/31/13;
7:00 PM EST EOM =
1/29/13; 10:00 AM EST
= +63; signal line is +40
1/27/13;
7:00 PM EST = +63; signal line is +40
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