Keybot the Quant remains on the short side as the strange market action remains strange. Volatility and copper dictate broad stock market direction currently. The bears need weaker copper with JJC under 36.05 (now at 36.31) to accelerate a stock market selloff.
The bulls need VIX below 10.17 (now at 11.27) to catapult equities to more stock market record highs. If the VIX drops under 10.17, and the SPX moves above its all-time record high at 2810 (the S&P 500 begins the week at 2810), Keybot will likely flip long. Copper futures trade overnight and the VIX begins trading at 3 AM EST.
If volatility remains bearish and copper bullish, like the back half of last week's trading, stocks will move sideways with an upward bias. Keybot does not print any pre-scheduled numbers this week. The algorithm only printed two numbers last week and both were pre-scheduled. The market action is very odd.
Interestingly, the US government is shutdown when it was expected that the situation would resolve on Friday. The activity in the futures will ebb and flow as the Washington, DC, politicians pontificate and play their baby games.
1/28/18; 7:00 PM EST =
1/21/18; 7:00 PM EST = +54;
signal line is +62
1/19/18; 10:00 AM EST =
+54; signal line is +63
1/18/18; 9:00 AM EST = +54;
signal line is +64
1/14/18;
7:00 PM EST = +54; signal line is +65
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.