Keybot the Quant remains long. The algo is fixated on retail and financials tracking RTH 58.69 and XLF 21.85. Very simply, bulls win if RTH moves above 58.69 but bears will win if XLF drops under 21.85. Equities will float along sideways with a slight upward bias if the status quo remains with the retail sector causing market negativity now and the financials causing market bullishness.
For the SPX starting at 1889, the bulls need to push above 1897 to accelerate the upside immediately to 1902. The bears need to push only three points lower, under 1886, to accelerate the downside. A move through 1887-1896 is sideways action today. If XLF drops under 21.85, and the SPX drops under 1886, and both remain under, Keybot will likely flip short. The bulls are driving the bus but bears are wrestling for the steering wheel. The retail earnings today, especially WMT, will likely dictate the RTH and the direction of the overall markets.
5/18/14;
7:00 PM EST =
5/16/14;
10:00 AM EST =
5/16/14;
9:00 AM EST =
5/14/14; 9:36 AM EST
= +65; signal line is +55
5/12/14;
12:17 PM EST = +81; signal line is +53
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