Keybot the Quant remains long. The algo printed one number a few minutes after the opening bell. The algo number is 19 points above the signal line. The fix was in for bulls from the get go with financials, commodities and the NYA Index all launching higher. Tuesday was a big day for bulls.
Wednesday is setting up as a fight between financials and copper. The market bulls win and the stock market rally continues higher if JJC moves above 24.91. The bears need to push XLF under 22.15 to regain their downside mojo. If JJC remains below 24.91 and XLF above 22.15, status quo, stocks will float along sideways with an upward bias.
Wednesday is setting up as a fight between financials and copper. The market bulls win and the stock market rally continues higher if JJC moves above 24.91. The bears need to push XLF under 22.15 to regain their downside mojo. If JJC remains below 24.91 and XLF above 22.15, status quo, stocks will float along sideways with an upward bias.
For the SPX starting at 2062, the bulls need to push above 2065 to accelerate the upside towards 2070 in a flash. The bears need to push under 2040 to accelerate the downside. A move through 2041-2064 is sideways action for Wednesday. JPM bank earnings will impact the XLF. Watch copper overnight since if it is trading positively that will hint that the bull rally party will continue on Wednesday. Copper determines if stocks move higher, or not, going forward.
4/15/16;
10:00 AM EST =
4/12/16; 9:36 AM EST
= +78; signal line is +59
4/11/16;
3:57 PM EST = +64; signal line is +59
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