Monday, April 28, 2014

STOCK MARKET BULLISH -- LONG

Keybot the Quant remains long to begin the new week of trading. The bears could not create any significant market damage since financials and copper remain higher and volatility lower. The S&P futures are +7 pointing to a strong open about three hours away. Bears need either XLF under 21.77, JJC under 37.47 and/or VIX above 14.75, or they got nothing. Any degree of market selling will be in proportion to these three parameters turning bearish, if they do. The bulls need to push retail stocks higher and the RTH above 58.95 which will create the fuel needed to propel equities higher.

For the SPX starting at 1863, the bulls need to touch the 1878 handle to create an upside acceleration. Even with the robust opening move projected for the S&P's, the bulls still need 15 points overall to show they got game, a formidable task. The bears need to push under 1860, only three points lower, to create a downside acceleration. Bulls are pumping futures higher to prevent the bears from gaining any downside traction. A move through 1861-1877 is sideways action for Monday. The bulls are driving the bus without worry. If 2 of the 3 parameters above (XLF, RTH, VIX) turn bearish, the imminent turn status will be in play and the bulls will be worried. Keybot prints four pre-scheduled numbers this week. April ends on Wednesday and the month began at SPX 1872.34 so there may be drama in the front-half of the week around this number which dictates whether April will be a positive, or negative, month.

5/4/14; 7:00 PM EST =
5/2/14; 9:00 AM EST =
4/30/14; 7:00 PM EST EOM =
4/29/14; 10:00 AM EST =
4/27/14; 7:00 PM EST = +65; signal line is +32
4/25/14; 10:00 AM EST = +65; signal line is +30

No comments:

Post a Comment

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