Keybot the Quant is on the long side. For Thursday, the bulls need either GTX above 4805 and/or UTIL above 492.30 and it will be blue skies above for the broad markets. The bears need to push the VIX back above 14.20 or they got nothing. If GTX and UTIL stay bearish, and VIX stays bullish, markets stumble sideways.
For the SPX starting at 1811, the bulls need any smidge of green in the overnight futures and the upside party continues to immediately test the 1814 all-time intraday high and higher. The bears need to retrace the large 30-point up move to create mojo, a formidable task but not outside the realm of possibility, but instead, the bears will focus on an easier task of keeping commodities and utilities lower while pushing volatility higher to stop the upside market path. The bulls are driving the bus. Watch for a reversal at any time forward since the markets remain erratic and unstable, today's action a case in point. Pay attention to GTX 4805 and VIX 14.20.
12/22/13;
7:00 PM EST =
12/18/13; 3:20 PM EST
= +46; signal line is +35
12/18/13;
2:38 PM EST = +32; signal line is +35 but algorithm stays long
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