Keybot the Quant remains on the long side in these erratic choppy markets. Banks remain strong and volatility sinks like stone punching the bears in the face; once in each eye. The low volatility hammers the bears. The algo number is 20 points above the signal line with bulls walking around with their chests puffed out. Keybot prints five numbers yesterday including the pre-scheduled EOM number last evening. The algo prints two pre-scheduled numbers this morning.
Retail stocks are the only major parameter that is bearish creating market negativity. Most everything else, especially banks and the lower volatility, are bullish. Market bulls need higher retail stocks, RTH above 79.95, now at 79.30, to take stocks to the stratosphere.
Market bears need to either push XLF under 24.68, now at 24.88, and/or VIX above 11.14, now at 10.11 to create market negativity. Bears need weaker banks and higher volatility, otherwise, they have no hope. If RTH remains bearish, and XLF and VIX bullish, status quo, the stock market will stagger sideways with a slight upward bias.
US markets are closed on Monday and will resume trading on Tuesday. The beat goes on. The caution flag remains out since the markets are unstable and choppy.
9/3/17;
7:00 PM EST =
9/1/17; 10:00 AM EST
= +84; signal line is +64
9/1/17; 9:00 AM EST =
+84; signal line is +63
8/31/17; 7:00 PM EST
EOM = +84; signal line is +63
8/31/17; 2:36 PM EST
= +84; signal line is +62
8/31/17; 1:03 PM EST
= +68; signal line is +60
8/31/17; 10:01 AM EST
= +84; signal line is +58
8/31/17; 9:36 AM EST
= +70; signal line is +57
8/30/17;
3:42 PM EST = +56; signal line is +56 but algorithm remains long
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.