Keybot the Quant is long moving into the new week of trading. The algo is tracking JJC 37.85 and GTX 4966 as two important bull-bear lines in the sand. Both are currently bullish which create higher equity markets. Bears are in for more pain unless they send copper and commodities lower.
For the SPX starting at 1924, closing near the highs just like the day before, the bulls need any amount of positivity in the overnight S&P futures and it is off to the races higher with the SPX printing 1930. The bears must keep the overnight futures negative and push the SPX under 1917 to accelerate the downside. A move through 1918-1923 is sideways action to begin the week.
The bulls are cruising but the model is overbot at +79 indicating that a market top may be occurring. Copper strength overnight will make for happy bulls since equities will likely keep running higher but copper weakness overnight will make for happy bears since the equity upside will likely stall. Keybot prints one pre-scheduled number this week on Friday morning.
The bulls are cruising but the model is overbot at +79 indicating that a market top may be occurring. Copper strength overnight will make for happy bulls since equities will likely keep running higher but copper weakness overnight will make for happy bears since the equity upside will likely stall. Keybot prints one pre-scheduled number this week on Friday morning.
6/8/14;
7:00 PM EST =
6/6/14;
9:00 AM EST =
6/1/14; 7:00 PM EST EOM
= +79; signal line is +59
5/30/14;
10:00 AM EST = +79; signal line is +59
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