Thursday, April 28, 2016


Keybot the Quant remains long going into the Friday session. The algo prints one number today as stocks fell in the afternoon. Keybot identifies the retail stocks and chips as the two most important influences on broad market direction currently. The bulls need RTH above 75.88 (now at 75.75) to resume the upside rally. The bears need to push SOX under 659.10 (now at 662.69) which will create significant market selling. If SOX drops under 659.10, and the SPX drops under 2072, Keybot will likely flip short hence the imminent turn notation is in the title line.

For the SPX on Friday starting at 2076, the bulls need to retrace the Thursday drop to 2099 to regain their mojo. The bears need to push below 2072 to accelerate the downside. A move through 2073-2098 is sideways action. Keybot prints a pre-scheduled number shortly after the opening bell. Pay close attention to any news on semiconductors overnight. The bears have it on a silver platter for the algo to flip short if the chips (SOX, SMH, XSD) cooperate.

5/1/16; 7:00 PM EST EOM =
4/29/16; 10:00 AM EST =
4/28/16; 3:29 PM EST = +77; signal line is +65
4/26/16; 10:00 AM EST = +93; signal line is +64

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