Thursday, December 26, 2013

STOCK MARKET BULLISH -- LONG

Keybot the Quant is bullish as the upside holiday melt-up continues. U.S. markets reopen for trading this morning after the Christmas holiday. UTIL is at 489. The bulls need to push above 493 and further upside in equities is justified. The bears will strive to prevent UTIL 493 and at the same time try to push price under 477 to create negativity. The bulls are cruising along in Santa's sleigh without a care or worry. Bears need to push utilities, copper and retail lower, and volatility higher, to stop the upside market momentum.

For the SPX starting at 1833, at new all-time highs, any positivity in the futures will create another upside acceleration, and S&P futures are +3 a couple hours before the opening bell. The bears need to push under 1828 to accelerate the downside. A move through 1829-1833 is sideways action. Low volume is expected so the bulls will likely keep markets elevated. Equities remain very unstable and erratic.

12/29/13; 7:00 PM EST =
12/23/13; 10:00 AM EST = +61; signal line is +38

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