Keybot the Quant remains long moving into the Wednesday session. RTH sits exactly on the bull-bear line in the sand at 58.58 but price was under for much of the afternoon. RTH 58.58 tells the market story for Wednesday. Market bulls win with RTH above 58.58. Market bears win with the RTH below 58.58. The bulls are in full control. The bears need to keep RTH under 58.58 to simply stop equities from moving higher. The bears then need to weaken financials and utilities to gain downside traction.
For the SPX starting at new all-time highs at 1912, the bulls only need a hair of green to show in the overnight S&P futures and it is off to the races higher again with the SPX gaining several handles towards 1920. The bears must keep the futures negative and push SPX under 1902 to accelerate the downside. A move through 1903-1911 is sideways action.
5/30/14;
10:00 AM EST =
5/27/14; 10:52 AM EST
= +64; signal line is +57
5/27/14;
10:00 AM EST = +80; signal line is +57
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