Friday, May 9, 2014

STOCK MARKET BULLISH -- LONG -- CAUTION -- TURN MAY BE IMMINENT

Keybot the Quant remains long through the sideways choppy markets and did not print any numbers in the Thursday session. The atypical behavior continues with the algo wanting to go short, but not yet latching properly to permit the move, for four days. The bulls receive the upside juice from financials and nearly brought copper into the bull camp yesterday which would confirm new all-time highs coming for the SPX. Watch JJC 37.48. JJC ran up to 37.42 but then petered out closing at 37.27. Bull victory is signaled with JJC 37.48. Copper is trading flat at this writing about 4-1/2 hours before the US opening bell for stocks.

Watch XLF 21.83. Bears need to push under or they got nothing. Bears will benefit from weaker financials, commodities and higher volatility. Bulls will benefit from higher copper and a higher retail sector. For the SPX starting at 1876, the bulls need to push above 1889, 13-handles higher, and price will immediately spike to 1891 and likely continue to 1897. The bears need to push under 1870, 6 points lower, to accelerate the downside. A move through 1871-1888 is sideways action to finish the week. S&P futures are -4 slipping from the flat line a couple hours ago. If the SPX drops to the 1864-1870 area, Keybot will likely flip shortBulls need JJC 37.48. Bears need XLF 21.83. Copper and financials will provide the market answer for the Friday session.

5/11/14; 7:00 PM EST =
5/7/14; 2:34 PM EST = +49; signal line is +51 but algorithm remains long
5/7/14; 12:44 PM EST = +33; signal line is +51 but algorithm remains long

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