Monday, November 4, 2019

STOCK MARKET BULLISH -- LONG -- CAUTION

Keybot the Quant remains long as the historic price action continues in the stock market. The bulls are in control with the algo number 10 points above the signal line but this is not much of an advantage so the caution flag remains out. The S&P 500 is at record highs and S&P futures are up +8 about 7 hours before the opening bell for the US regular Monday trading session.

Bulls will keep floating the stock market higher unless the bears can create weakness in commodities and copper. Bears need GTX below 2428 (now at 2479) and/or CPER under 16.49 (now at 16.67). Bears need a -1.1% drop in copper futures which are currently trading up +0.5%. Retail stocks are important and may impact stock market direction this week.

Keybot prints a pre-scheduled number on Friday morning shortly after the market opens. The market joy continues.

11/10/19; 7:00 PM EST =
11/8/19; 10:00 AM EST =
11/3/19; 7:00 PM EST = +88; signal line is +78
11/1/19; 9:36 AM EST = +88; signal line is +77

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.