Keybot the Quant remains long heading into the Wednesday trade. The NYA drops below the 10937 level, identified by the algo, which stops the upside rally. Continue to watch NYA 10937 and also watch VIX 13.80. VIX is at 12.22 creating market bullishness. Bears will receive downside market juice if VIX moves above 13.80 and a caution signal will be warranted in the title line. Overall, the bulls remain comfortable with the algo number 27 points above the signal line.
For Wednesday with the SPX starting at 2119, the bulls need to move above the 2128 level to accelerate the upside to new all-time record highs. S&P futures, however, are -8, about three hours before the opening bell. The bears need to push under 2115 to accelerate the downside which appears on tap. The bears need higher volatility as explained above to make headway to the downside with stocks; a trend change lower for the stock market will then occur if either retail stocks and/or financial stocks weaken.
7/26/15;
7:00 PM EST =
7/21/15; 11:05 AM EST
= +8; signal line is -19
7/19/15;
7:00 PM EST = +22; signal line is -20
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