Tuesday, October 15, 2013

STOCK MARKET BULLISH -- LONG

Keybot the Quant is long moving into the Tuesday session. The bulls are taking no prisoners the last few days pumping markets higher on political happy talk. The algo number is nearly 50 points above the signal line; the bulls are cruising. Bulls need to push the VIX under 15 to receive the green light to SPX 1722, 1730 and perhaps 1750. Bears must keep volatility high and moving higher while retaking either UTIL 484.03, GTX 4888 and/or JJC 40.19. Any one of these 3 parameters will place a lid on the market upside. If these 3 parameters remain in the bull camp, equities will keep floating higher.

For the SPX starting at the important 1710 level, any smidge of green in the futures will set equities up for an upside acceleration and the SPX making its way to 1722. The bears need to push below the strong 1691-1692 support level to create downside mojo. A move through 1693-1709 is sideways action. S&P futures are +3 at this writing about 4 hours before the opening bell.

10/17/13; 9:00 AM EST =
10/14/13; 12:04 PM EST = +64; signal line is +16
10/14/13; 11:08 AM EST = +50; signal line is +13

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