Friday, April 11, 2014

STOCK MARKET BEARISH -- SHORT -- CAUTION

Keybot the Quant remains bearish as a choppy sideways session occurs for Friday that is staying mainly negative. Financials tumble lower on the disappointing JPM earnings that missed on the top and bottom lines. The algo is watching SOX 563.69 as a bull-bear line in the sand. It ruptured today but the bulls quickly recovered. If SOX loses 563.69 the markets will take another strong leg lower with the SPX charting a path to the low 1800's. The bulls are trying to regain their mojo by pumping copper. The algo is tracking JJC 37.61 as the bull-bear line in the sand. Markets will recover and rally if JJC moves above 37.61. With SOX on the bull side, and JJC on the bear side, the status is quo and markets stumble sideways.

The SPX lost the 1831 level this morning so the acceleration to 1828 support occurred, and failed. Equities deteriorate midday. The SPX is 1821. The SOX drops to 563.85 only pennies from failure but bounces again. Watch SOX 563.69 into the closing bell. Markets will crumble if SOX loses 563.69. 

4/13/14; 7:00 PM EST =
4/11/14; 10:00 AM EST = +17; signal line is +35
4/10/14; 12:54 PM EST = +17; signal line is +37; go short 1848; (Benchmark SPX for 2014 = +0.0%)(Keybot this trade = -0.6%; Keybot for 2014 = +4.0%)(Actual this trade = -2.6%; Actual for 2014 = +1.5%)

Note Added 2:13 PM: SOX fails 563.69; see if the bears can hold it under, if so, markets are going to sell off strongly. Bulls must move semicondutors higher immediately or they will lose control. Hang on tight.

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