Keybot the Quant Turns Bullish After the Open Today at SPX 1350

Today was all about the 1349.44 level as mentioned last night.  Big fight after the open and the bulls won.  Volatilty is dropping.

Keybot the Quant flipped to the long side this morning at 9:35 AM EST at SPX 1350.

Keybot's Comments:

Keybot flipped back to the long side five minutes after the opening bell at SPX 1350.  Big fight for the 1349.44 level after the open but the market bulls won out and punched above.  Financials and commodities are in the bear camp but utilities, semi's, retail and lower volatility all favor the bulls.

Keep in mind that the algorithm is only five points above the signal line, thus, the markets remain unstable and caution is warranted.  Market bulls will maintain control as long as the VIX stays below the 17.60 area, and, at 16.13, down 12% today, it is obvious why the bulls are running.

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