Keybot the Quant remains long but the algo is champing at the bit to go short. Internal programming rules are not yet properly latched so the move to the short side is prohibited, for now. If The SPX drops under 1867 in the remaining 90 minutes of trading today, Keybot will likely flip short. All five parameters mentioned in the previous missive are status quo so equities are trading flat.
The weakness at the opening bell was caused by financials. XLF failed at 21.80 creating the market negativity but shortly after 10 AM the XLF recovers back above 21.80 so equities recovered. This behavior identifies financials as the main driver of market direction currently. XLF is at 21.86 only a few slim pennies on the bull side. The XLF line in the sand is moving higher so market trouble will now occur under 21.82. Watch XLF 21.82 like a hawk since it provides the market directional answer into the closing bell. The beat goes on.
The weakness at the opening bell was caused by financials. XLF failed at 21.80 creating the market negativity but shortly after 10 AM the XLF recovers back above 21.80 so equities recovered. This behavior identifies financials as the main driver of market direction currently. XLF is at 21.86 only a few slim pennies on the bull side. The XLF line in the sand is moving higher so market trouble will now occur under 21.82. Watch XLF 21.82 like a hawk since it provides the market directional answer into the closing bell. The beat goes on.
5/11/14;
7:00 PM EST =
5/5/14; 10:14 AM EST
= +49; signal line is +50 but algorithm remains long
5/5/14; 9:36 AM EST =
+33; signal line is +48 but algorithm remains long
5/4/14;
7:00 PM EST = +49; signal line is +48
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