Keybot the Quant is long thru the weekend. The drama at JJC 43.60 (copper) was intense on Friday. If the bulls push above, the market rally is confirmed and lots more upside is ahead. The bears have to keep the JJC lower to stop the market from moving any higher. Regardless of whether or not the SPX punches up thru this years April highs is not as important as copper. The algo is currently indicating JJC 43.65 as the level of interest for next week. After the pre-scheduled number prints for Sunday, the areas and levels of interest can be identifed for the week ahead. JJC 43.65, now at 43.39, is perhaps the single-most important item to watch as the bell rings on Monday morning. And of course, JJC will move opposite the dollar, so the $USD will provide the early read. Weaker dollar and JJC moves up; stronger dollar, JJC moves down. Watch the $USD 82.6 level, the 50-day MA, eactly where it now sits. JJC 43.65 is going to decide the direction of the broad indexes come Monday morning.
8/19/12; 7:00 PM EST =
8/17/12; 10:00 AM EST = +60; signal line is +46
8/16/12; 9:00 AM EST = +60; signal line is +45
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