Monday, August 11, 2014


Keybot the Quant remains short after an interesting trading day to begin the week. The bulls appeared golden today goosing copper, financials and utilities but fell short on all three goals. UTIL came up to back kiss the important 543.81 and failed. Copper weakened today with JJC unable to overtake 38.91. The air came out of financials with XLF unable to move above 22.53. The bulls need any of these three parameters to turn bullish and it is party time for more market upside. If 2 of these 3 parameters turn bullish, Keybot will likely flip long.

If all three parameters remain in the bear camp, a lid is placed on the market upside and selling should resume. Bears will receive more downside fuel with RTH 59.51 and retail earnings are released this week and Retail Sales data is released on Wednesday morning at 8:30 AM EST.

For the SPX starting at 1937 S/R for Tuesday, the bulls need to push price higher to touch the 1945 handle and bingo, the upside rally will continue in force to 1949-1951 quickly. The bears need to push under 1933.50, and bingo, the bears will enjoy a downside acceleration targeting 1924 in quick order. A move through 1934-1944 is sideways action for Tuesday. Watch copper overnight

8/17/14; 7:00 PM EST =
8/15/14; 10:00 AM EST =
8/11/14; 10:13 AM EST = -9; signal line is +18

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