Keybot the Quant remains short as the sleepy week explodes into action with the algo printing 8 numbers yesterday. The bull-bear battle continues. Note the battle with copper. Bears need JJC below 34.82 and price is under by one penny at 34.81. Isn't it amazing that Keybot can call these important number levels out before they occur? If you are not impressed you should be. Messages can be posted more often if the blog is supported so it is all up to the international viewership.
The bears are pressuring the stock market lower with copper and semiconductors so watch these sectors closely. The bulls are preventing a sharp drop in the stock market and supporting equities by keeping volatility low and commodities elevated.
Bears need to keep JJC below 34.82 while pushing the VIX above 10.75. This will send stocks sharply lower. Bulls need to keep the VIX below 10.75 while pushing JJC above 34.82. One or these two will flinch and tell you the stock market direction ahead.
Since copper is on the bull-bear line at JJC 34.81-34.82, as copper goes, so goes the markets. Copper is trading higher in the early going which will pop JJC above 34.82 at the opening bell for the US regular trading session. VIX is currently printing at 10.13.
If JJC moves above 34.82, and remains above, and the SPX moves above 2668, Keybot will likely flip long. S&P futures are up +6 points as this message is typed 2 hours before the opening bell buoyed by copper. The beat goes on.
12/17/17;
7:00 PM EST =
12/14/17; 3:34 PM EST =
+68; signal line is +71
12/14/17; 3:16 PM EST =
+84; signal line is +71 but algorithm remains short
12/14/17; 2:34 PM EST =
+68; signal line is +71
12/14/17; 2:16 PM EST =
+84; signal line is +70 but algorithm remains short
12/14/17; 2:07 PM EST =
+68; signal line is +70
12/14/17; 12:36 PM EST
= +84; signal line is +70 but algorithm remains short
12/14/17; 11:45 AM EST
= +68; signal line is +70
12/14/17; 9:41 AM EST =
+84; signal line is +70 but algorithm remains short
12/10/17; 7:00 PM EST = +68; signal line is +70
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