The bears need weaker copper, commodities and utilities to create further downside carnage. Bears need CPER under 17.34 now only 2 cents on the bull side at 17.36. Bulls obviously need to push copper higher. Copper futures are down -0.2% as this message is typed; the price action is along the flatline overnight.
The bulls need SPX above 2745 as soon as possible to stop the stock market bleeding. This level will at least stop the market selling and stabilize the situation. If the S&P 500 comes up to kiss the 2745 and rolls back over lower, the stock market can potentially experience a crash event.
If bulls attain the SPX 2745 level and hold it, they can probably flip Keybot back to the long side if either NYA moves above 12806 and/or XLF above 27.97. Q3 bank earnings begin in a couple hours and will send XLF wildly up, or down.
If CPER falls below 17.34, stocks will continue sideways to sideways lower. If SPX moves above 2745, the stock market will stabilize into the weekend. If the SPX regains 2745, and either NYA moves above 12806 and/or XLF above 27.97, consider the imminent turn back to the long side to be in play. Keybot prints a pre-scheduled number later this morning. The beat goes on.
10/14/18;
7:00 PM EST =
10/12/18;
10:00 AM EST =
10/11/18; 3:50 PM EST =
+10; signal line is +37
10/11/18; 3:21 PM EST =
+24; signal line is +38
10/11/18; 3:12 PM EST =
+10; signal line is +39
10/11/18; 3:03 PM EST =
-6; signal line is +41
10/11/18; 2:41 PM EST =
+10; signal line is +44
10/11/18; 9:36 AM EST =
+24; signal line is +46
10/10/18;
2:46 PM EST = +8; signal line is +47
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