Keybot remains bearish through the weekend. The algo quietly moves through last week without printing any numbers except for the two pre-scheduled numbers. In a nutshell, the bears are creating market weakness with higher volatility and weakness in copper and commodities. The bulls continue to own most every other sector. For next week, utilities are the key focus and will determine market direction. Two numbers are important; UTIL 480.65 and UTIL 477.91. UTIL begins the week at 482.16. If the 481 level fails, the broad indexes are in serious trouble with increased selling on tap. If 478 fails, that should act as a trap-door for markets and a large flush lower will likely occur such as a 10 to 30-handle drop in the S&P's in a matter of an hour or two. If UTIL stays above 481, the bulls will be sipping champagne by mid-week.
Other parameters and areas of interest can be identified once the standard Sunday number prints tomorrow.
6/2/13;
7:00 PM EST EOM =
5/31/13; 10:00 AM EST
= +36; signal line is +41
5/28/13;
10:00 AM EST = +33; signal line is +42
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