Sunday, April 3, 2016


Keybot the Quant is on the short side to begin the new week of trading. The markets are a coin flip. Copper and the NYA Index are the two key drivers of stock market direction right now. Watch JJC 25.14. Price is at 25.05 only 9 pennies in the bear camp. If JJC moves above 25.14 and the SPX moves above 2075, Keybot will likely flip back to the long side. Hence, the imminent turn notation is in the title line. Market bears should be fine as long as they keep JJC under 25.14.

Watch NYA 10156 now at 10220 in the bull camp. Big trouble begins in the stock market if NYA loses 10156. Each day that NYA is above 10156 adds strength to the bull rally.

For the SPX starting at 2073, the bulls only need two points of upside, to poke above 2075, which will create an upside acceleration and a joyous bull celebration. Watch the overnight S&P futures to see if two green points are there, or not. The bears need to push under 2044 to accelerate the downside, a formidable task, so instead the bears will focus on keeping copper weak and send the NYA lower which will maintain a lid on the stock market rally and turn things south.

Keybot does not print any pre-scheduled numbers this week. Watch copper overnight since it will tell you the tale for stock market direction tomorrow. As copper goes, so goes the market. The algo number is 11 points below the signal line in the bear camp but that would change quickly if copper rallies.

4/10/16; 7:00 PM EST =
4/3/16; 7:00 PM EST = +64; signal line is +75
4/1/16; 11:06 AM EST = +64; signal line is +76

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.