Thursday, April 30, 2015


Keybot the Quant remains short. Financials gave up the ghost (XLF under 24.19) causing the flush in stocks into the closing bell. Bulls need XLF above 24.19 to get their mojo back. Bears need to push UTIL under 581 to create another leg lower for the stock market (see previous message for more color on the utilities).

For the SPX starting at 2086 on Friday, the bulls need to touch the 2106 handle and bingo, an upside accelerations will occur. The bears need to push the SPX under 2078 to create a downside acceleration. A move through 2079-2105 is sideways action to end the week. Stocks will remain weak into the weekend if the XLF stays under 24.19. If XLF moves above 24.19 a recovery rally will occur into the weekend. Focus on XLF 24.19; it is key to the broad stock market direction. Bulls need strong banks and bears want to see weak banks.

5/3/15; 7:00 PM EST =
5/1/15; 10:00 AM EST =
4/30/15; 7:00 PM EST EOM = +33; signal line is +57
4/30/15; 2:31 PM EST = +33; signal line is +58
4/30/15; 11:05 AM EST = +49; signal line is +59

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