Keybot the Quant remains short. Copper collapses with JJC down to 40.17 now ushering in more sustainable market downside. UTIL is keeping its head above water on the bull side above 494.50. XLF is pennies from the 21.53 bull-bear line in the sand that will create another market down leg if it fails. Bulls cannot move GTX above 4780 so they cannot receive this spinach food they desperately need. VIX is above 14 causing negativity.
Bears need UTIL 494.50 and/or XLF 21.53 and the broad indexes will drop far more precipitously. Bulls need to push JJC back above 40.45 and/or GTX above 4780 to stop the market downside. The imminent turn status is removed since the algo number is now 24 points below the signal line. The caution flag may be removed depending on how the day finishes. XLF is at 21.60 and UTIL is 496.04; if either parameter fails the bull-bear levels shown above, markets will get very ugly; if both fail, equity markets may go into free fall. Interestingly, after all this market drama for a couple weeks, the SPX finally comes back down to the 1827 area where the aglo entered short for the current position.
1/26/14;
7:00 PM EST =
1/23/14; 10:45 AM EST
= +18; signal line is +42
1/23/14;
9:38 AM EST = +34; signal line is +42
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