Keybot the Quant is bearish to begin the new week of trading. The bears need XLF under 21.42 to confirm a downward market path ahead. The bulls need RTH 58.68 (HOD Friday was 58.66), JJC 39.91 and/or VIX under 14 and the upward market path would be confirmed. All four parameters are very near the bull-bear lines in the sand so anything can happen. If RTH, JJC or VIX turn bullish, and remain bullish, and the SPX moves above 1846, and stays above, Keybot will likely flip long.
For the SPX starting at 1836, the bulls need to move above 1846 to accelerate the upside. The bears need to push below 1836 to accelerate the downside, thus, any smidge of negativity in the S&P futures will create a happy start for bears. A move through 1836-1845 is sideways action. S&P futures are +1 Sunday evening.The bears are driving the bus with only one point difference between the algo number and signal line. Keybot prints two pre-scheduled numbers this week; one on Tuesday morning and one on Friday morning. The bears need weaker banks or they will fold like a cheap suit. Bulls need stronger retail stocks and copper. Copper is trading lower as the week begins.
3/2/14;
7:00 PM EST EOM =
2/28/14;
10:00 AM EST =
2/25/14;
10:00 AM EST =
2/23/14; 7:00 PM EST
= +32; signal line is +33
2/21/14;
9:51 AM EST = +32; signal line is +32
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