Thursday, April 24, 2014

STOCK MARKET BULLISH -- LONG

Keybot the Quant remains long as the bulls explode higher at the opening bell with an orgy of excitement. The broad indexes are either side of the flat line currently giving up the initial leap higher, however, the bulls now have copper and retail in their camp so it is surprising that the indexes are not far higher. Watch RTH 58.96 and JJC 37.46. Prices are above for each creating the elevated and buoyant stock market today. Bears will get run over unless they can reverse the retail and copper joy, respectively, so pay close attention to these two parameters. RTH is 59.04 and JJC is 37.67 so there should be far more bullishness occurring in markets than the action shows.

The algo explodes higher to +79. This number will have to be compared to prior lofty levels. Remember, at its heart, Keybot is an oscillator so the high near-80 print is an indication of highly overbot markets. For now, the bulls continue to cruise and will drive markets strongly higher unless the bears can reverse the copper and/or retail joy as described above.

4/25/14; 10:00 AM EST =
4/24/14; 10:47 AM EST = +79; signal line is +28
4/24/14; 9:36 AM EST = +63; signal line is +25
4/22/14; 2:58 PM EST = +47; signal line is +24

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