Sunday, November 23, 2014


Keybot the Quant remains long moving into the Monday session. The couple-week and more battle between volatility and copper continues and will determine market direction ahead. Bulls need JJC above 36.98. Bears need VIX above 14.34. Last Wednesday and Thursday the bears threatened with higher volatility then folded like a cheap suit. On Friday, copper launched higher and it looked like the bulls were golden but they slipped on a banana peel as copper retreated. Neither side wants the ball so equities float sideways with an upward bias. One or the other will flinch and provide the market answer ahead.

For the SPX starting at 2064, the bulls need over 7 points higher, to punch up through 2071.50, to create an upside acceleration that will target 2080. The bears need to push under 2057, about 7 points lower, to create a downside acceleration. A move through 2058-2071 is sideways action for Monday. The bulls are driving the bus. Watch copper trading overnight. Keybot prints two pre-scheduled numbers this week. Thanksgiving is Thursday and markets are closed. Friday is a half-day session and EOM. November began at 2018.

11/30/14; 7:00 PM EST EOM =
11/26/14; 10:00 AM EST =
11/25/14; 10:00 AM EST =
11/23/14; 7:00 PM EST = +61; signal line is +50
11/21/14; 11:01 AM EST = +61; signal line is +50

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