Keybot the Quant remains bearish as the roller coaster markets continue along this week. The algo is very active printing 20 numbers over the last three days. Sometimes, three days may go by and Keybot does not print any numbers. The bears reaffirmed their control today but markets remain erratic and indecisive. The algo identifies JJC 40.13 as a key bull-bear line in the sand. JJC closed at 40.12, one penny on the negative side which causes market weakness. Since price is teetering on the line, as copper goes, so goes the markets tomorrow. Thus, the overnight copper trading will provide insight into the equity direction tomorrow.
For the SPX starting at 1679, the bulls need to push above 1692 to accelerate the upside towards 1700 in quick order. The bears need to push under 1670 to accelerate the downside to the low to mid 1660's. A move through 1671-1691 is sideways action. The bears are driving the bus. Keybot prints a pre-scheduled number tomorrow morning.
10/6/13;
7:00 PM EST =
10/4/13;
9:00 AM EST =
10/3/13; 3:55 PM EST
= +2; signal line is +25
10/3/13; 3:22 PM EST
= +18; signal line is +27
10/3/13;
2:16 PM EST = +2; signal line is +29
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