Tuesday, March 21, 2017


Keybot the Quant remains short as the bears seek revenge against the bulls in Tuesday's session. There is serious technical damage done with copper, banks, retail stocks and volatility. For Wednesday, the bulls can stop the market selling by either pushing VIX below 11.92 and/or RTH above 78.25. VIX trades before the stock market opens for the regular session and will provide a hint on market direction. If the VIX remains above 12 and the RTH remains under 78.25, the stock market will float along sideways with a downward bias.

For the SPX on hump day starting at 2344, the bulls need to push above 2382 to get their mojo back a formidable task but anything can happen in these markets. The bears need to push below 2342, only a couple points lower, to accelerate the downside. A move through 2343-2381 is sideways action for Wednesday. VIX 11.92 may play a key role in the hump day trade. The bears are in charge and growling strongly with the algo number 54 points under the signal line.

3/26/17; 7:00 PM EST =
3/21/17; 11:10 AM EST = +24; signal line is +78

No comments:

Post a Comment

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