Tuesday, January 28, 2014

STOCK MARKET BEARISH -- SHORT

Keybot the Quant remains short. The algo prints one number yesterday and will print a pre-scheduled number this (Tuesday) morning. Utilities remain weak so the markets remain weak. Watch UTIL 494.90 (now higher than previous 494.50 level) and 496.05. The bulls need to move UTIL above 494.90 asap. The bears will continue the broad market weakness as long as UTIL stays under 494.90. Bulls need GTX above 4780 which would also stop the market selling. The bears need to push SOX under 522.40 to create another broad market down leg.

For the SPX, starting at 1782, the bulls need to touch the 1796 handle and an upside acceleration will occur with price moving back above 1800. S&P futures are +9 at this writing about 5 hours before the opening bell. Bulls will need about 14 points. At the same time, the Nasdaq futures are negative pulling the opposite way. The bears need to push under SPX 1773 to accelerate the downside. A move through 1774-1795 is sideways action. The bears are driving the bus. Markets remain erratic and unstable. Bulls need UTIL 494.90, GTX 4780 and/or SPX 1796. Bears need SOX 522.40 and/or SPX 1773.

1/31/14; 10:00 AM EST =
1/28/14; 10:00 AM EST =
1/27/14; 9:36 AM EST = -30; signal line is +35
1/26/14; 7:00 PM EST = -14; signal line is +38

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