Keybot the Quant remains short moving into Wednesday trading. The stock market collapses in the Tuesday session with the algo number now 57 points below the signal line. The bears are cruising. A snap-back rally appears on tap for Wednesday with S&P futures up +10 at this writing less than three hours ahead of the opening bell. The bears need weaker semiconductors and retail stocks to gain further downside.
The bulls need higher utilities, copper, and/or financials to stop the bleeding. The US bank stress test results are on tap after the closing bell. Lower volatility will also help the bulls recover. Pay attention to UTIL 574 and VIX 15.78 which will signal that the bulls have created a base in markets. Stocks are set to rally but if these two parameters do not occur, the selling will likely resume.
For the SPX starting at 2044 closing at the lows yesterday, the bears need any smidge of negativity and stocks will accelerate lower, however, futures are strongly higher. The bulls need to retrace yesterday's 35-point drop to regain their mojo. A move through 2045-2075 is sideways action for today. The bears are driving the bus.
3/13/15;
10:00 AM EST =
3/10/15; 11:25 AM EST
= -8; signal line is +49
3/10/15; 10:30 AM EST
= +8; signal line is +51
3/10/15; 9:36 AM EST
= -8; signal line is +54
3/9/15;
11:05 AM EST = +52; signal line is +56
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