Wednesday, August 20, 2014


Keybot the Quant remains long as the algo prints four numbers today in an active day. Copper tells the market story going forward; watch JJC 38.73 (JJC is 38.70 three pennies on the bear side causing market negativity). New all-time highs for the SPX are guaranteed if JJC moves above 38.73 so look for any smidge of positivity in copper trading overnight. The bears will focus on keeping JJC under 38.73 and at the same time try to push the VIX above 12.80 (now at 11.78 causing market bullishness) to stop the strong ongoing nine-day relief rally.

For the SPX for Thursday starting at 1987, the bulls need to touch the 1989 handle and bingo, stocks will run wildly higher in an upside acceleration party that has the SPX and other indexes printing new all-time highs. Watch the S&P futures overnight to see if the bulls can produce +2 of upside to continue the bull party, or not. The bears need to push under 1978 to accelerate the downside. A move through 1979-1988 is sideways action. The bulls are driving the bus but note that the signal line is quickly closing the gap towards the algo number now 19 points difference.

8/24/14; 7:00 PM EST =
8/20/14; 3:57 PM EST = +53; signal line is +34
8/20/14; 1:53 PM EST = +69; signal line is +32

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.