Tuesday, February 18, 2014

STOCK MARKET BULLISH -- LONG

Keybot the Quant remains long as the holiday-shortened week is off and stumbling. The algo prints three numbers today thus far. Volatility, retail and copper are all very active and tossing the broad indexes to and fro. The bears need to push VIX above 14.00 (now at 13.87) and/or JJC under 39.92 (now at 39.95) to send markets lower. The bulls need to push RTH above 58.63 (now at 58.45) to receive more upside fuel. One of these three parameters will flinch and markets will move in the direction indicated. If all three remain status quo, equities move sideways.

The SPX keeps tapping the 1843 resistance. Bulls need to move above 1843 to send price to the all-time highs at 1848-1851. Bulls are cruising with the algo number almost 50 points above the signal line. Bears need higher volatility and lower copper.

2/19/14; 9:00 AM EST =
2/18/14; 12:32 PM EST = +62; signal line is +13
2/18/14; 10:39 AM EST = +48; signal line is +11
2/18/14; 9:51 AM EST = +32; signal line is +10
2/16/14; 7:00 PM EST = +46; signal line is +8

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.