Sunday, February 7, 2016

STOCK MARKET BULLISH -- LONG -- CAUTION

Keybot the Quant remains long moving into the new week of trading. The market action is wild.  Friday's big selloff is a surprise considering that the algo remains bullish. Watch copper closely. Watch JJC 23.86 now at 23.94 only 8 pennies away. If JJC fails under 23.86, stocks will be flushed down the toilet.  If JJC remains above 23.86, the bulls will continue stabilizing the stock market and trying to create a recovery rally. The stock market is behaving very oddly.

For the SPX starting at 1880, the bulls need to retrace Friday's drop to regain their mojo, a formidable task, so the bulls will instead focus on moving copper higher to stop the stock market carnage. The bears need to push under 1873 to accelerate a move lower into the 1860's in a flash. A move through 1874-1912 is sideways action for Monday. Keybot prints one pre-scheduled number this week on Friday morning. Watch copper overnight. The stock market will likely go as copper goes.

2/14/16; 7:00 PM EST =
2/12/16; 10:00 AM EST =
2/7/16; 7:00 PM EST = -7; signal line is -32
2/5/16; 9:00 AM EST = -7; signal line is -33

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.