Monday, April 21, 2014

STOCK MARKET BULLISH -- LONG

Keybot the Quant remains long to start the new week of trading after the Easter holiday weekend. The algo is tracking financials, volatility and copper as the three key market movers. Bears need either XLF 21.77 and/or VIX 14.74 to place a lid on the market upside. The bulls need higher copper to receive more upside go juice so watch JJC 37.50 as the signal for higher equities. Copper is flat in early trading. If financials and volatility turn bearish, and the SPX drops under 1857, Keybot will likely flip short but this appears a tall task as the morning arrives on the East Coast.

For the SPX starting at 1865, the bulls need to touch the 1870 handle and an upside acceleration will occur. Bears need to push under 1857 to accelerate the downside. A move through 1858-1869 is sideways action. S&P futures are +2 at this writing about 4-1/2 hours before the opening bell. The bulls are cruising and bears got nothing unless they achieve lower financials and higher volatility. Keybot prints one pre-scheduled number this week on Friday morning. 

4/27/14; 7:00 PM EST =
4/25/14; 10:00 AM EST =
4/20/14; 7:00 PM EST = +47; signal line is +23
4/16/14; 2:54 PM EST = +47; signal line is +22; go long 1859; (Benchmark SPX for 2014 = +0.6%)(Keybot this trade = -0.6%; Keybot for 2014 = +3.4%)(Actual this trade = -0.6%; Actual for 2014 = +0.9%)

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