Keybot the Quant is bearish moving into the Thursday session. The bears are cruising but the markets are setting up for a recovery bounce today. The algo continues to track volatility, semi's and financials as the three most important parameters determining market direction right now. Watch VIX 14.25 (now creating market negativity at 16.51), SOX 425.20 (now creating market negativity at 417.65), and XLF 17.95 (now creating market bullishness at 18.01). Any change to any of these three parameters will move the broad indexes in that respective direction.
For the SPX starting at 1552, the bulls need to touch 1575 to launch upside momo. The bears need to push under 1544 to accelerate the downside action. A move through 1545-1574 is sideways action today. The bears are driving the bus. Markets remain very unstable.
4/21/13;
7:00 PM EST =
4/17/13; 1:38 PM EST
= +16; signal line is +34
4/17/13;
12:12 PM EST = +0; signal line is +34
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