Thursday, May 29, 2014

STOCK MARKET BULLISH -- LONG

Keybot the Quant remains long moving into the Thursday trading session with only two days remaining in the month of May. May began at SPX 1884 so the month is positive by 26 points. The algo did not print any numbers on Wednesday. The market bulls sent RTH to 58.58 but did not have the oomph to move above, so equities hit a ceiling. The bulls need stronger retail stocks to move higher. Even though the bears are preventing RTH 58.58, they cannot gain any headway lower without weaker financials, copper and/or commodities. The recent strength in the dollar may create weakness in copper and commodities.

For the SPX starting at 1910, the bulls need to push above 1914.50 and an upside acceleration to 1920 is on tap. The bears need to push under 1907 to accelerate the downside. A move through 1908-1913 is sideways action. The bulls are in control but will not push markets higher without RTH 58.58 cooperating.

6/1/14; 7:00 PM EST EOM =
5/30/14; 10:00 AM EST =
5/27/14; 10:52 AM EST = +64; signal line is +57

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