Keybot the Quant remains long through the Monday session moving into the Tuesday session. The algo did not print any numbers on Monday. Watch VIX 14.15 and JJC 37.00. Yep, the fight between copper and volatility continues. The BOJ stepped on the neck of volatility today to create further upside in stocks. The VIX stays bullish and JJC stays bearish so sideways was the order of the day and the lower volatility creates sideways with an upward bias. Bulls win big with JJC 37.00 so watch copper. Bears win big with VIX 14.15 so watch volatility. One of these two will flinch and identify the winner for the days ahead.
For the SPX starting at 2038.26 another all-time intraday record high, the bulls only need less than one point, to simply touch the 2039 handle and an upside acceleration will occur into the 2040's so watch the S&P futures overnight to see if there is further juice in the tank. The bears need to push under 2030 to accelerate the downside. A move through 2031-2038 is sideways action. The bulls spend each day kicking the bears with no let up in sight. The best thing for the bears to do is to create higher volatility (higher VIX) and lower copper (JJC) which will stop the market rally.
11/14/14;
10:00 AM EST =
11/9/14; 7:00 PM EST
= +60; signal line is +35
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