Friday, December 5, 2014

STOCK MARKET BULLISH -- LONG -- CAUTION

Keybot the Quant remains long. The pre-scheduled number prints resulting in no change. The jobs report is a blowout 321K jobs but the stock market moves along sideways. The VIX 14.48 remains a key bull-bear level and the VIX drops to print an 11-handle today at 11.95 providing bull fuel. The bulls need higher copper with the JJC above 36.35 to confirm more equity upside but JJC remains stalled. Thus, with bears unable to push volatility higher and bulls unable to push copper higher, equities stagger sideways with an upward bias. Since VIX keeps dropping that takes the imminent turn scenario off the table--for now.

Market bulls have attacked the 2077.34 price level twice as the session is well underway. A move above will create an acceleration well into the 2080's. The SPX is at 2074 with a HOD at 2076.54 less than one dollar from bull victory. The bulls keep running higher. Watch SPX 2077.34.

12/7/14; 7:00 PM EST =
12/5/14; 9:00 AM EST = +58; signal line is +56
12/1/14; 1:03 PM EST = +58; signal line is +56

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