Keybot the Quant Turns Bullish

Keystone's proprietary algo, Keybot the Quant, flipped to the bull side at 11:41 AM EST at 1148. The broad markets are very much in a churn pattern, subject to the Euro news. The retail sector is boosting the broad markets today. Charts are supportive of financials as well. Tech is weak. Typically the indexes should be weak considering the behavior of the Nasdaq today but that is not the case.

Extreme caution is warranted since this sideways nature of the indexes currently can easily whipsaw Keybot today or tomorrow. The algo is currently identifying SPX 1136 as a whipsaw area, if the SPX moves to this handle within 24 hours, Keybot will probably go back to the short side.  Continue to watch retail. The algo now scanning RTH 103.90 and the last print is 104.20, this favors market bulls. Watch that 103.90 level the rest of the day as a gauge for the broad markets.

More information at Keybot's site,

http://www.keybotthequant.blogspot.com