Keybot the Quant remains long as the Friday session is set to begin. The algo prints the pre-scheduled number which results in a one-tick increase for the signal line. The difference between the algo number and signal line is only four points indicating a bull-bear struggle ongoing despite all the recent market upside.
Copper is taking the pipe today losing -1.6% in the early going therefore the bulls are going to have a tough time making upside headway with weaker copper (despite S&P futures at +4). Use GTX 4969 as the main rudder steering the direction of the market ship today. Bulls will continue winning if GTX stays above 4969. Equities will weaken and a market top will be in place if GTX loses 4969.
6/8/14;
7:00 PM EST =
6/6/14; 9:00 AM EST =
+63; signal line is +59
6/5/14;
1:31 PM EST = +63; signal line is +58
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