Keybot the Quant remains long as the algo does not print any numbers in the sleepy Monday session. The bulls are in full control. The algo is rating copper as the bears likely best chance to turn the tables. Market bears need JJC under 37.65 to gather downside strength. Keybot is also tracking RTH 59.03 and GTX 5025. All three parameters are firmly bullish creating upside fuel and allowing equities to remain elevated.
For the SPX starting at 1963, and surprisingly staying within that tight sideways range highlighted previously, the bulls only need to touch the 1964 handle and the upside will accelerate to 1970. The bears need to push under 1959 to accelerate the downside so the same set up as the prior day. A move through 1960-1963 is sideways action and again, unlikely to occur since it is such a tight range. Bulls win at 1964 and higher. Bears win at 1959 and lower. S&P futures are -2. Bears need lower copper, retail and/or commodities, otherwise, they got nothing. Keybot prints a pre-scheduled number in about an hour.
6/27/14;
10:00 AM EST =
6/24/14;
10:00 AM EST =
6/22/14; 7:00 PM EST
= +79; signal line is +62
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