Sunday, May 29, 2016

STOCK MARKET BULLISH -- LONG

Keybot the Quant is long moving into the new week of trading on Tuesday morning.  US markets are closed on Monday for Memorial Day. The bulls need to push copper higher and send JJC above 24.63 (now at 24.18) to prove that new all-time record highs for stocks are definitely on the table.

The bears need to push retail stocks lower and RTH under 75.71 (now at 76.42) to stop the upside stock market rally. If copper remains bearish and retail stocks bullish, the broad indexes will float along sideways with an upward bias.

For the SPX on Tuesday starting at 2099, the bulls need any smidge of green in the overnight S&P futures and stocks will accelerate higher. The bears need to push under 2090 to regain their mojo. A move through 2091-2098 is sideways action to begin the week. The bulls are in charge.

Keybot prints three pre-scheduled numbers this week; the first on Tuesday morning shortly after the opening bell, the second on Tuesday evening for EOM and the third on Friday morning before the opening bell. Watch copper since it dictates if the market bulls can send stocks to new all-time highs, or not.

6/5/16; 7:00 PM EST =
6/3/16; 9:00 AM EST =
5/31/16; 7:00 PM EST EOM =
5/31/16; 10:00 AM EST =
5/29/16; 7:00 PM EST = +81; signal line is +58
5/27/16; 10:00 AM EST = +81; signal line is +57

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