Keybot the Quant remains short through the weekend but the algo wants to go long. Copper, retail and utilities dictate market direction; JJC 39.93 (now at 40 creating bullishness), RTH 53.74 (now 53.58 creating bearishness) and UTIL 482.16 and 483.35 (now 473.37 creating bearishness). Any change to any parameter will push markets in that direction. Copper trading will provide a hint overnight Sunday. Retail earnings this week and retail sales on Friday will dictate RTH's move.
The algo is latching on and off at 1657 so a move to the long side is likely from here. The bears must weaken copper overnight, if so, they can send markets lower. If the bulls keep copper elevated overnight, it is likely smooth sailing higher for equities and Keybot will likely flip long. The Friday action established a high at 1665 and low at 1640 so the move from this range is the winner going forward. A turn to the long side appears imminent and the copper direction overnight is of great importance. Keybot prints one pre-scheduled number this week on Friday morning.
The algo is latching on and off at 1657 so a move to the long side is likely from here. The bears must weaken copper overnight, if so, they can send markets lower. If the bulls keep copper elevated overnight, it is likely smooth sailing higher for equities and Keybot will likely flip long. The Friday action established a high at 1665 and low at 1640 so the move from this range is the winner going forward. A turn to the long side appears imminent and the copper direction overnight is of great importance. Keybot prints one pre-scheduled number this week on Friday morning.
9/15/13;
7:00 PM EST =
9/13/13;
10:00 AM EST =
9/8/13; 7:00 PM EST =
+1; signal line is -6 but algorithm remains short
9/6/13;
3:41 PM EST = +1; signal line is -6 but algorithm remains short
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