Keybot the Quant remains bearish but a sleepy Friday exploded into an upside bull frenzy in the last hour of trading on a thin-volume day. Volatility collapsed into the closing bell with the VIX closing under 14 and now causing market bullishness. Utilities ran higher with UTIL moving above the important 483.14 level, which would have likely caused Keybot to flip long, but it did not hold. UTIL dropped slightly to close at 482.94, only 20 cents from providing the bulls with an extended upside rally. Volatility, utilities, financials and retail are the four parameters dictating market direction currently. The levels of interest for next week can be identified once the Sunday pre-scheduled number prints tomorrow. The algo number is now only 2 points from the signal line. The imminent turn notation is added in the title line since if the bulls push utilities higher on Monday morning, and the SPX gains a couple points, Keybot will likely flip long.
8/25/13;
7:00 PM EST =
8/23/13; 3:20 PM EST
= -1; signal line is +1
8/23/13;
11:21 AM EST = -15; signal line is +2
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