Keystone's trading algo, Keybot the Quant, flips short this morning at SPX 1699, whipsawing from the Tuesday long move. The algo wanted to go short yesterday but was held back by internal programming rules. Semiconductors fail big. Financials, retail and volatility all jump into the bear camp but volatility is dropping again (which will help equities lift off today's bottom). As always, stay alert for a whipsaw back to the long side but currently it appears the bears have a strong hold on the markets. More information is found at Keybot's site;
Keybot the Quant
http://stockcharts.com/h-sc/ui?s=SPY&p=D&yr=0&mn=6&dy=0&id=p98546773165&a=193162179
ReplyDeleteArthur Hill chart that shows the 167 Spy area that needs to be recaptured and the gap now that sits atop any wave 5 -
this move has frightened a lot of the bulls like Hill and Futia and have them saying we will get a revisit of the june lows...
the declining volume here in relation to the recent dow theory signals has a bullish connotation by the way so we will see...
Note that the 38% Fib is 165 same as the 50-day MA at 165.56. Dow lost its 50-day MA. All indexes and stocks should be watched in relation to their 50-day MA's since the trouble will be double if they start failing, if they hold, the bulls can recover.
Deletehttp://stockcharts.com/h-sc/ui?s=$NAHL:$NATOT&p=D&yr=0&mn=7&dy=0&id=p77027596024&listNum=4&a=303358015
ReplyDeletehttp://stockcharts.com/h-sc/ui?s=$SUPADP&p=D&yr=0&mn=8&dy=0&id=p80318809161&listNum=4&a=305777905
some cracks
http://stockcharts.com/h-sc/ui?s=$NYUD&p=D&yr=1&mn=0&dy=0&id=p92464218029&a=312380585
ReplyDeletemidchannel support perfectly held up as Volume OsC
retests - if VO breaks down further the correction will continue and a new cash build up will occur
otherwise we go to the upper band of the channel
which right now is 1721