Keybot the Quant is long moving into the Tuesday session. The algo did not print any numbers yesterday. Note how the bulls pushed UTIL above 483.35 but 4 minutes later it failed. That, along with lackluster copper, took the wind out of the upside market move. Today is a fight between copper and volatility. Utilities and commodities are important as well. Bulls need to push JJC above 39.90, or UTIL above 483.35, to receive more upside fuel. Bears need to push VIX above 14.65, or GTX under 4892, to receive downside fuel. JJC 39.90 and VIX 14.65 are the key. If JJC stays under 39.90, and VIX stays under 14.65, equities should stumble sideways. Bulls win with higher copper and bears win with higher volatility.
For the SPX starting at 1698, the bulls need to touch the 1705 handle, and a test of the all-time high at 1710 will occur quickly. The bears need to push under 1692 to accelerate the downside. A move through 1693-1704 is sideways action.
9/18/13;
9:00 AM EST =
9/15/13; 7:00 PM EST
= +31; signal line is +3
9/13/13;
10:00 AM EST = +31; signal line is +1
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