Keybot the Quant remains long. The bears fight back late in the session sending the XLF down to 22.88 one penny under the critical 22.89 line in the sand identified by the algo. Isn't it amazing that Keybot can identify these key levels before they occur? So the pivot with financials will determine market direction from the get-go on Friday. Higher banks and higher stocks; lower banks and lower stocks. The bears likely need weaker retail stocks (RTH to move under 62.00) to place the model in a position to go short.
For Friday with the SPX starting at 1951, the bulls need to touch the 1962 handle and a strong upside acceleration will occur. The bears need to push under 1931 to accelerate the downside. The S&P futures are -11 on Thursday evening in the States dropping due to a confirmed Ebola infection in New York City. A move through 1932-1961 is sideways action for Friday.
10/26/14;
7:00 PM EST =
10/23/14; 3:59 PM EST
= -7; signal line is -22
10/23/14;
10:20 AM EST = +9; signal line is -22
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.