Keybot the Quant remains long after a strong rally day on Tuesday. Semiconductors explode higher punching the bears in the face. The algo is currently tracking volatility, financials and the NYA Index. Bulls need VIX under 16.62 (now at 17.23 very close) and the stock market will explode higher moving towards new all-time highs. The bears need to either push XLF under 23.88 (now at 24.21) and/or NYA under 10818 (now at 10915) to create selling pressure so the bears have their work cut out for them.
For the SPX starting at 2069, bulls only need to touch the 2071 handle to accelerate the upside party to 2075-2076 in a heartbeat. From here, the upside will depend on if the VIX turns bullish, or not. The bears need to push under 2049 to regain their mojo, a formidable task, so instead bears will focus on keeping volatility higher while moving banks and the NYA lower which will stall the upside market rally. A move through 2050-2070 is sideways action for Wednesday. The bulls are cruising but market price action is reacting to Greece and Ukraine news so if the news is good it is party time for bulls if the news is bad then the bears will regain the upper hand.
2/15/15;
7:00 PM EST =
2/13/15;
10:00 AM EST =
2/10/15; 9:36 AM EST
= +56; signal line is +33
2/10/15; 9:35 AM EST
= +40; signal line is +32
2/10/15; 9:32 AM EST
= +26; signal line is +30 but algorithm remains long
2/9/15;
9:36 AM EST = +40; signal line is +30
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