As copper goes, so goes the market. Bears need CPER below 16.45 (now at 16.92). Bears also need higher volatility and must push the VIX above 15.84 to prove they have the beans to crush stocks. If either parameter turns bearish, consider the imminent turn in play and if the SPX slips below the 3003 palindrome, on the Monday palindrome day, 91619, Keybot will likely flip short. The SPX begins at 3007.
Bulls need to keep copper and volatility in the bull camp (higher copper and lower volatility) while at the same time pushing commodities higher. Bulls need GTX above 2423 (now at 2394) and new record highs in the stock market are guaranteed.
If copper and volatility remain bullish, and commodities bearish, stocks will chop sideways with a slight upward bias. The big Fed Rate Decision and Chairman Powell Press Conference is on tap for Wednesday and stocks typically rally 80% of the time going into the Fed meeting. Global traders may be willing to wait until hump day for Powell to bring the tablets down from on high and tell traders how to trade.
Keybot prints one pre-scheduled number this week on Wednesday.
Keybot prints one pre-scheduled number this week on Wednesday.
9/22/19;
7:00 PM EST =
9/18/19;
9:00 AM EST =
9/15/19;
7:00 PM EST = +70; signal line is +68
9/13/19;
10:00 AM EST = +70; signal line is +65
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