Keybot the Quant remains long as the bulls continue to slap the bears around. Copper explodes +1.6% higher with JJC leaping to 38, well above the 37.60 bull-bear line in the sand, mortally stabbing the bears. Bears got nothing but pain unless they push JJC back under 37.60.
The SPX sneaks out the one point of upside mentioned in the prior post so an acceleration occurs to print a new all-time intraday high at 1963.91. The algo is now pushed into the ovebot ceiling again with a lofty +79 reading. As with other oscillator-type indicators, the overbot conditions confirm the bullish fun but at the same time warn that downside is likely around the corner. For now, the bulls are driving the party bus into the weekend without a care or worry. Watch copper.
6/22/14;
7:00 PM EST =
6/20/14; 9:36 AM EST
= +79; signal line is +62
6/17/14;
9:00 AM EST = +63; signal line is +61
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