Keybot the Quant remains short as the upside market orgy plays out. SPX is above 1892 gaining nearly 30 points so far today. The SPX key level to watch is 1895 only three points away. Bulls will receive substantial juice to easily push the SPX above 1900 if price moves above 1895.
UTIL is at 561 launching higher after teasing the 554.27 level three times over the last day and this morning teasing the 559.53 twice before price just popped up through. Many algorithms follow the 15-week look-back technique described in the previous post and that is clearly visible by the exact price action at these levels. Watch UTIL 559.53 and SPX 1895. For now, the rally is the dead-cat variety, but if the SPX moves above 1895 during the session or the UTIL closes above 559.53 at the end of the day, this will create market lift today and come Monday and sustain the market buoyancy.
10/19/14;
7:00 PM EST =
10/17/14; 10:00 AM
EST = -36; signal line is -18
10/17/14; 9:00 AM EST
= -37; signal line is -17
10/16/14;
10:35 AM EST = -37; signal line is -15
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