Keybot the Quant, a trading algorithm tracking the SPX, flipped to the long side this morning at the open although the bullishness is not strong.
The positive Greece news bounced the euro which weakened the dollar which strengthened commodities and equities; the asset relationship mentioned often here is in the bulls favor today with euro up=dollar down=commodities up=equities up.
Commodities and copper are on the bull-bear line so do not be surprised if the indexes whipsaw today or tomorrow. Semiconductors bounced at the open but then collapsed. Financials remain bearish. Utilities and retail remain bullish.
Further information at Keybot's site:
http://www.keybotthequant.blogspot.com/
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