Keybot the Quant is long moving into the Tuesday session. The algo printed one number yesterday after the opening bell. It was surprising the bulls could not make further upside progress. The bears hold the SPX 2110-2111 ceiling. The bulls need stronger copper and commodities to gain further upside but the performance in these raw material markets remains lackluster. Bears need either XLF under 24.10 and/or VIX above 16.25 or they got nothing. The stock market will only begin and sustain a downward path if one of these two parameters fail.
For the SPX starting at 2110, the bulls only need a smidge of green in the futures and boom, the upside will accelerate several handles. S&P futures are flat and non-committal about an hour before the opening bell. The bears need to push under 2103 to accelerate the downside. A move through 2104-2110 is sideways action for Tuesday.
Watch financials and volatility. If both the XLF and VIX turns bearish, and the SPX drops under 2103, Keybot will likely flip short. For now, bulls are fine with no worries but if financials or volatility turns bearish as described, consider the caution and imminent turn flags to be waving. Keybot prints a pre-scheduled number this morning shortly after the opening bell. The algo number is 19 points above the signal line.
Watch financials and volatility. If both the XLF and VIX turns bearish, and the SPX drops under 2103, Keybot will likely flip short. For now, bulls are fine with no worries but if financials or volatility turns bearish as described, consider the caution and imminent turn flags to be waving. Keybot prints a pre-scheduled number this morning shortly after the opening bell. The algo number is 19 points above the signal line.
2/27/15;
10:00 AM EST =
2/24/15;
10:00 AM EST =
2/23/15; 9:36 AM EST
= +70; signal line is +51
2/22/15;
7:00 PM EST = +54; signal line is +50
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