Keybot the Quant remains short and idles along sideways for the last couple days. The previous important parameters remain bearish so stocks are staggering sideways. Copper shows signs of life which may place a bottom in stocks. Watch JJC 30.45 (now at 30.35 only one dime below) which will place a firm floor in the stock market. Bulls will receive upside fuel if VIX drops under 11.92 and/or RTH above 78.22. Any one of the three parameters will place a floor in stocks.
Bears need to keep JJC under 30.45, VIX above 11.92 and RTH below 78.22 and they will continue to slap the bulls around.
Bears need to keep JJC under 30.45, VIX above 11.92 and RTH below 78.22 and they will continue to slap the bulls around.
For the SPX starting at 2346, the bulls need to touch the 2359 handle and price will accelerate higher. The bears need to push below 2342 to accelerate the downside. A move through 2343-2358 is sideways action for Friday. Higher copper will kick the bulls into rally mode. S&P futures are up +8 on Thursday evening. Bears need copper to trade lower to kick in more market selling. Copper is currently trading down -0.4%.
3/26/17;
7:00 PM EST =
3/21/17; 11:10 AM EST
= +24; signal line is +78
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