Friday, August 23, 2013

STOCK MARKET BEARISH -- SHORT -- CAUTION

Keybot the Quant remains short and idles along another day without printing any numbers, despite the market turmoil and Nasdaq shutdown. Oddly, the SPX took out the prior day's high but none of the negative market parameters turned bullish. Watch UTIL 483.16, XLF 20.12 and VIX 14.23. All three are bearish creating market negativity. If 2 of the 3 turn bullish, and the SPX prints above 1659.50 and stays above, Keybot will likely flip long. Watch commodities, GTX 4825, since this level will create further market bearishness.

For the SPX starting at 1657, the bulls need to push up through 1659.50 and the upside will accelerate. The bears need to push down through 1645 to accelerate the downside.  A move through 1646-1658 is sideways action for Friday.  Watch XLF 20.12. The caution flag remains out. If 1 of the 3 parameters mentioned in the first paragraph turn bullish, consider that to signal that a turn to the bull side is imminent.

8/25/13; 7:00 PM EST =
8/20/13; 2:34 PM EST = -15; signal line is +6

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