Friday, September 20, 2013

STOCK MARKET BULLISH -- LONG

Keybot the Quant remains long. The bulls are driving the car and the bears are in the trunk. Market bears need to either push UTIL under 483-487, GTX under 4888 and/or the VIX above 14.60. All three remain formidable tasks but in these erratic markets anything may happen. If any of the three parameters move to the bear camp, a firm lid will be placed on any further market upside. If the three parameters remain bullish, equities will continue to float higher.

For the SPX starting at 1722, the bulls need to touch the 1730 handle, and hold it a few minutes, and a new upside party well into the 1730's will occur in quick order. The bears have an easier path needing to push the SPX only two points lower under 1720 to accelerate the downside. A move through 1721-1729 is sideways action today. S&P futures are -1 at this writing about five hours before the U.S. opening bell. The bulls remain in firm control overall.

9/22/13; 7:00 PM EST =
9/18/13; 2:12 PM EST = +79; signal line is +18

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