Keybot the Quant is long. The EOM print results in no change. The bears had a chance, pushing the VIX above 14, but they ran out of gas and the bulls managed to print new all-time highs for the SPX at 1597.57. VIX 14 remains a key bull-bear line in the sand. The bulls are cruising and even if VIX moves above 14, that may not be enough oomph for bears to create a turn. Interestingly, the bears would likely be best served if the VIX oscillates above and below 14 a few times tomorrow. This action would raise the signal line and perhaps enable the bears to develop the oomph to run lower.
For the SPX starting at 1597.57, the bulls only need to see a smidge of green in the futures overnight and the SPX will be printing above 1600 tomorrow after the opening bell rings. The bears need to push the SPX under 1587 to accelerate the downside. A move through 1588-1597 is sideways action. Markets remain highly erratic and unstable.
5/3/13;
9:00 AM EST =
4/30/13; 7:00 PM EST
EOM = +46; signal line is +32
4/30/13;
10:45 AM EST = +46; signal line is +32
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