Thursday, July 24, 2014


Keybot the Quant remains long as the Thursday trading session is underway. The algo has not printed any numbers since flipping long on Tuesday. Bulls continue to cruise higher since volatility remains low. The algo is tracking VIX 12.95 so the market bears cannot create any negativity with VIX over one point under. Interestingly, semiconductors are back in vogue as a key market driver again. The algo is now tracking SOX 523.90 as a bull-bear line in the sand. SOX is printing a 529 handle creating buoyant equity markets but a drop of 5 more handles is going to create broad market selling. At SOX 529, bulls are still not particulary worried.

For the SPX today, now printing at 1989.60 and printing a new all-time intraday high at 1990.10 a short time ago, needs to hold the 1989.50 plus level for a few minutes and this will then create an upside acceleration, so the current price action is very important. Market bears need to push under 1982.50 to regain downside mojo. A move through 1983-1989 is sideways action. Bears need VIX 12.95 or SOX 523.90 or they got nothing. Since these targets are not within direct reach right now, the imminent turn notation is removed. The bulls are in charge. 

7/27/14; 7:00 PM EST =
7/22/14; 9:35 AM EST = +66; signal line is +65; go long 1982; (Benchmark SPX for 2014 = +7.3%)(Keybot this trade = -1.0%; Keybot for 2014 = +5.3%)(Actual this trade = -1.9%; Actual for 2014 = +6.0%)

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