Keybot the Quant is on the long side to begin the new week of trading but the unstable market action continues. The most important parameter controlling stock market direction currently is the semiconductors. The bull-bear line identified and currently tracked by Keybot is SOX 1251.38. Price is at 1250.89 to begin the week on the bear side. If SOX moves above 1251.38, it adds upside fuel to stocks. With S&P futures up +10 as this message is typed a couple hours before the opening bell, the chips will likely rally strongly slapping the bears in the face.
The market bears need to keep SOX under 1251.38 while at the same time trying to push JJC under 34.87, UTIL under 747 and/or VIX above 10.72. These four parameters dictate stock market direction currently. Despite the upside joy, if the bears can push either copper, utilities or volatility into their camp, any one would do, and push the SPX under 2659, Keybot will likely flip short. Looking at the futures, this is not on anyone's radar screen for today.
Keybot prints a pre-scheduled number before tomorrow's opening bell and also on Friday morning. The beat goes on. As the chips go, so goes the markets.
12/19/17;
9:00 AM EST =
12/17/17; 7:00 PM EST =
+84; signal line is +74
12/15/17;
3:48 PM EST = +84; signal line is +73
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