Tuesday, May 27, 2014

STOCK MARKET BULLISH -- LONG

Keybot the Quant remains long as the new holiday-shortened week of trading begins. RTH jumps above 58.61 at the opening bell creating bull fuel. Watch 58.59 as the bull-bear line in the sand. Above RTH 58.60 market bulls are fine. Below RTH 58.58 and market bears will have the upper hand.

The SPX prints a new intraday all-time record high with HOD thus far at 1911.39. Bears can create a ceiling in the markets if they move RTH under 58.58. Bulls will run higher all day long if they maintain RTH above 58.60. The bulls are cruising. Note the elevated +80 reading for the algo number, a very lofty level for the oscillator indicating strong bullish conditions but at the same time a potential meaningful top approaching. Watch RTH 58.59 since it is the rudder steering the market ship direction today.

5/30/14; 10:00 AM EST =
5/27/14; 10:00 AM EST = +80; signal line is +57
5/27/14; 9:36 AM EST = +80; signal line is +56
5/25/14; 7:00 PM EST = +64; signal line is +56

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