Keybot the Quant remains long but the failure of UTIL 486.89 this morning ushered in market weakness and placed a lid on equities. About an hour ago, GTX failed through 4889 which led to the broad index lows today, but the bulls push GTX back above 4889 providing market lift again. At 4 PM, the UTIL 486.89 will no longer matter and instead 485.33 takes its place. Thus, for utilities next week, UTIL 483.35 and 485.33 are the two key bull-bear lines in the sand so write them on a sticky note and place them on your desktop. The closing print today is very important for UTIL in relation to 483.35 and 485.33 since this provides you a heads up on broad market direction for Monday's opening bell. The bears are fighting back so it is prudent to raise the caution flag again. The bulls remain in strong control.
9/22/13;
7:00 PM EST =
9/20/13; 2:28 PM EST
= +63; signal line is +24
9/20/13; 2:14 PM EST
= +49; signal line is +22
9/20/13; 10:06 AM EST
= +63; signal line is +20
9/18/13;
2:12 PM EST = +79; signal line is +18
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