Keybot the Quant remains bearish. The algo is tracking four parameters which are most greatly influencing market direction; SOX 457.00, RTH 51.38, XLF 19.25 and NYA 8782. Semi's, retail and financial sectors, respectively, are creating market negativity. Therefore, the market bulls need to regain these parameters to move the broad indexes higher. The degree of which each, or any of the three, recover, will dictate how strong a relief rally occurs. NYA 8782 is creating bullishness in markets right now and is the line in the sand the bears need to create further market downside. Thus, bulls are pushing for SOX 457.00, RTH 51.48 and XLF 19.25 to regain upside strength while bears are pushing for NYA 8782 to continue the market slide south.
For the SPX on Tuesday starting at 1573, the bulls need to push above 1588 and touch the 1589 handle to accelerate the upside to the psychological 1600 level in quick order. The bears need to push under 1561 to accelerate the downside. A move through 1562-1587 is sideways action. Keybot prints a pre-scheduled number at 10 AM so the action can be updated mid-morning. Pay attention to semi's and retail, SOX 457.00 and RTH 51.48, respectively.
6/28/13;
10:00 AM EST =
6/25/13;
10:00 AM EST =
6/24/13; 9:31 AM EST
= -45; signal line is +15
6/23/13;
7:00 PM EST = -29; signal line is +18
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