Keybot the Quant is short going into the new week of trading. The bulls need to push retail and utility stocks higher to stop the market selling. Watch RTH 76.22 with price now at 74.99 helping the bears. The bears need either NYA under 10890 and/or the VIX above 14.41 to create downside broad market selling. If all three parameters remain status quo with RTH bearish and NYA and VIX bullish, stocks will float along sideways with a slight upward bias.
For the SPX starting at 2093, the bulls need to push above 2101 to accelerate the upside. The bears need to push under 2086 to accelerate the downside. A move through 2087-2100 is sideways action to begin the week. The bears are in control but as seen by the two-point difference between the algo number and signal line, the bulls and bears are in an intense battle currently.
6/14/15;
7:00 PM EST =
6/12/15;
10:00 AM EST =
6/7/15; 7:00 PM EST =
+14; signal line is +16
6/5/15;
3:53 PM EST = +14; signal line is +16
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.