Keybot the Quant remains long to begin the new week of trading. Market bulls need JJC to move above 24.90 to signal the all-clear for the stock market rally to continue. Watch to see if copper is positive overnight. The bears need to push GTX under 2146 to create another strong downward leg of stock market selling. The week begins with the battle of commodities versus copper which in turn dictates the broad stock market direction.
For the SPX starting at 2081, the bulls only need two points of upside, to move above 2083, and an upside acceleration will kick in sending price towards 2090. The bears need to push under 2076 to accelerate the downside. A move through 2077-2082 is sideways action for Monday. This is a tight range so price will likely choose one direction or the other rather than remaining sideways. The bulls remain in control.
4/24/16;
7:00 PM EST =
4/19/16; 9:00 AM EST =
4/17/16; 7:00 PM EST
= +78; signal line is +60
4/15/16;
10:00 AM EST = +78; signal line is +61
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