Wednesday, June 11, 2014

STOCK MARKET BULLISH -- LONG -- CAUTION

Keybot the Quant remains long as the SPX moves through a tight 5-point range on Tuesday. The bulls brought copper off the lows yesterday which enabled equities to remain elevated and stagger sideways. The algo has not printed any numbers thus far this week. Same-o set up for Wednesday. Keybot is tracking copper and commodities.

Bulls need JJC above 37.77 to signal the all-clear and the path higher for equities. Bears need GTX under 4990 to create downside selling in equities. If GTX loses 4990 (only 20 points away from the current 5010 print), and the SPX loses 1945, and both remain under, Keybot will likely flip short. The imminent turn notation is not in the title line, for now, but if GTX turns bearish consider a flip to the short side imminent.

For the SPX starting at 1951 closing at the highs for another day, the bulls only need a smidge of green in the futures and it is off to the races higher for another day. S&P futures are -3 about 4-1/2 hours before the opening bell. The bears need to push under 1945 to accelerate the downside. A move through 1946-1950 is sideways action. Considering the tight 4-point range, one side or the other will likely win today. Bulls win above 1950-1951. Bears win under 1944-1945.

6/13/14; 10:00 AM EST =
6/8/14; 7:00 PM EST = +63; signal line is +60

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