Keybot the Quant remains long as Wednesday trading is underway. Nefarious computer bugs are creating technical issues this morning but the systems are fending off the attacks and stabilizing. The bulls remain in the driver's seat. Bulls need copper and commodities to strengthen to send the stock market higher and neither are cooperating as yet. Bears need VIX above 16.20 and/or XLF under 24.10 but both remain strong.
At the Friday close and for all of next week, UTIL 596 will be a very important level. UTIL is above 600 so bulls are receiving upside stock market juice from the buoyant utilities. Stocks will weaken if UTIL leaks below 596 next week but has to fall under 586 for this week to cause market weakness.
At the Friday close and for all of next week, UTIL 596 will be a very important level. UTIL is above 600 so bulls are receiving upside stock market juice from the buoyant utilities. Stocks will weaken if UTIL leaks below 596 next week but has to fall under 586 for this week to cause market weakness.
For the SPX starting at 2115, the bulls need to touch the 2118 handle and bingo, price will be above 2120 in an instant. The bears must push under 2106 to create a downside acceleration. A move through 2107-2117 is sideways action for Wednesday. The bulls are in charge.
3/1/15;
7:00 PM EST EOM =
2/27/15;
10:00 AM EST =
2/24/15; 10:00 AM EST
= +68; signal line is +52
2/23/15;
9:36 AM EST = +70; signal line is +51
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