Wednesday, February 25, 2015

STOCK MARKET BULLISH -- LONG

Keybot the Quant remains long moving into the Thursday session. The algo idled along on Wednesday without printing any numbers. Note how UTIL dropped today to 598 but bears would need a move under 586 on Thursday or Friday, or a move under 596 any day next week, to create negativity in equities. Bears also need either VIX above 16.20 or XLF under 24.10 but these parameters are firmly in the bull camp creating stock market lift.

The market bulls need higher copper and commodities to receive the blessing for higher equities ahead. Bulls need JJC above 31.95 now at 31.66 only about 30 cents away. If JJC moves above 31.95, the bulls lock in upside victory with the SPX above 2120 and running well into and through the 2120's. So watch copper closely.

For the SPX starting at 2114 on Thursday, the bulls need to touch the 2120 handle and the upside will accelerate (watch to see if JJC will provide fuel above 31.95). The bears need to push under 2110 to accelerate the downside. A move through 2111-2119 is sideways action for Thursday. As a general rule, it looks like 'as copper goes, so goes the markets'.

3/1/15; 7:00 PM EST EOM =
2/27/15; 10:00 AM EST =
2/24/15; 10:00 AM EST = +68; signal line is +52

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