Monday, July 7, 2014


Keybot the Quant is long as trading resumes in the US after the Independence Day holiday on Friday. The bulls continue cruising without any worries. Volatility remains at multi-year lows. Sectors such as copper, semiconductors and financials are moving higher supporting the bull scenario. The bears are in hibernation. The algorithm is tracking GTX 5030 as the bears best current chance to halt the multi-week upside rally. GTX is at 5074 forty-four points above, on the bull side, creating market lift. Market bears got nothing unless they can push GTX under 5030, if so, the upside rally is done. If GTX remains bullish, the stock market continues floating sideways to sideways higher.

For the SPX starting at 1985, closing at the highs in the prior session, the bulls only need a smidge of green in the S&P futures, to push through SPX 1986, and the upside rally will continue with a few points of acceleration sending price above 1990. The bears need to push the SPX under 1976, nine points lower, to accelerate the downside. A move through 1977-1985 is sideways action for Monday. S&P futures are -3 about 2-1/2 hours before the opening bell. Keybot the Quant remains on the long side for the last six weeks. The algo does not print any pre-scheduled numbers this week. Watch commodities. The algo number remains at an uber high overbot level at +81 so the bulls are having a big party but overbot levels typically indicate a market top. Time will tell.

7/13/14; 7:00 PM EST =
7/6/14; 7:00 PM EST = +81; signal line is +63
7/3/14; 9:00 AM EST = +81; signal line is +63

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