Keybot the Quant is short and tomorrow the algo will decide if it wants to firmly commit to the bear side, or, whipsaw back to the long side. Three parameters control the markets and will determine the fate of equities; JJC 39.00, GTX 4795 and SOX 473.36. JJC starts the Thursday session at 39.08 causing bullishness, GTX is 4788 causing bearishness and SOX is 474.12 causing bullishness. Note that the inflection points are directly where price sits. There will be high drama. JJC is 8 pennies difference, GTX is only 7 bucks and SOX is less than a buck difference at 76 cents. Bears need lower copper (JJC) and semi's (SOX). Bulls need higher commodities (GTX). This is the battle field. Any move by any of the three parameters will send markets in that direction.
For the SPX starting at 1691, the bulls need to push above 1695 to create an upside acceleration. If this occurs watch GTX to see if the bulls receive rocket fuel. The bears need to push under 1685 to accelerate the downside. If this occurs watch JJC and SOX to see if the bears receive rocket fuel. A move through 1686-1694 is sideways action. Markets remain unstable and erratic. The bears are driving the bus but as the above description illustrates, it is a coin flip still yet. Thursday is a very important day. Watch copper trading overnight for an early read on the action.
8/11/13;
7:00 PM EST =
8/7/13; 1:35 PM EST =
+51; signal line is +52
8/7/13;
1:16 PM EST = +65; signal line is +52 but algorithm says stay short
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.