Friday, February 8, 2013

STOCK MARKET BULLISH -- LONG -- CAUTION


Keybot the Quant remains long going into the Friday session. The bulls continue to steer the bus and need to see UTIL 475.49 today to launch another market up move. It becomes easier for the bulls since next week the UTIL 469.78 is in play all week long, a much easier beat. Watch UTIL 469.78 into the closing bell today since this will place bulls in a strong position for Monday with a close above.  The bears need to push UTIL under 469.78 before the closing bell today and also target 467.71 to regain their mojo. The algo is now tracking copper again. Watch JJC 46.25 as a bull-bear line in the sand, JJC starts today at 47.08. VIX 15.90 is also important and starts today at 13.50.

For the SPX starting at 1509, the bulls need to touch the 1513 handle and it will launch an upside acceleration. The bears need to push under the strong 1498-1499 support level to accelerate the downside. A move through 1500-1512 is sideways action. Markets are erratic and unstable but the bulls continue to grind higher.

2/10/13; 7:00 PM EST =
2/7/13; 10:10 AM EST = +63; signal line is +47

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.