The bears need to maintain elevated volatility. At the same time, the bears need to spank the retail stocks lower. Bears need RTH below 117.97 (now at 119.21) which will begin market mayhem and the caution flag will be out. Bears also need weaker commodities. Bears need GTX to fall below 2451 (now at 2500).
If either RTH or GTX fail into the bear camp, the caution flag is out. If they both fail, the imminent turn to the short side will be in play for Keybot. Stocks are typically bullish into the Fed meetings 80% of the time but not this week thus far. S&P futures are down -11 about 2 hours before the opening bell for the regular Tuesday trading session. The VIX is at 16.49. Professional traders may be willing to buy the lows today hoping for a little rally into the Wednesday afternoon Fed meeting.
The VIX, RTH and GTX are controlling stock market direction currently. Bulls need lower volatility and higher retail stocks and commodities. Bears need higher volatility and lower retail stocks and commodities. The beat goes on.
The VIX, RTH and GTX are controlling stock market direction currently. Bulls need lower volatility and higher retail stocks and commodities. Bears need higher volatility and lower retail stocks and commodities. The beat goes on.
12/15/19;
7:00 PM EST =
12/9/19;
3:09 PM EST = +74; signal line is +52
12/9/19;
2:54 PM EST = +88; signal line is +52
12/9/19;
2:12 PM EST = +74; signal line is +52
12/8/19;
7:00 PM EST = +88; signal line is +52
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