Keybot the Quant remains short. The week is off to a quiet sleepy start. The algo did not print any numbers in the Monday session. Bulls need JJC above 30.35 (higher copper). Bears need lower retail stocks, RTH under 78.13, and/or higher volatility, VIX above 12.48. If the three parameters remain status quo, the stock market floats along sideways.
The Federal Reserve rate decision and press conference is an epic event on tap for Wednesday.
For the SPX starting Tuesday at 2373, the bulls need one point of upside, to move above 2374, and the SPX will quickly launch towards 2380. The bears need to push under 2369 to accelerate the downside. A move through 2370-2373 is sideways action for Tuesday but this is such a tight range, price will likely choose a direction.
Watch copper closely that JJC 30.35 number will confirm that the bulls are fighting back, until then, with JJC under 30.35, the bears are in full control.
Watch copper closely that JJC 30.35 number will confirm that the bulls are fighting back, until then, with JJC under 30.35, the bears are in full control.
3/19/17;
7:00 PM EST =
3/17/17;
10:00 AM EST =
3/16/17;
9:00 AM EST =
3/12/17; 7:00 PM EST = +70; signal line is +88
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