Keybot the Quant remains long. The algo is off to a solid start this week printing three numbers. Well, look at that. For the third time in the last couple months the +94 uber high occurs. The maximum is +100 so the meter is pegged to the upside. An algo number this high is very rare and hints that a multi-year market top may be in play. Keybot, however, only sees 1's and 0's and for now, the bulls are winning.
Bears need copper to drop to stop the market rally. Watch JJC 24.90. If that fails, bears can receive further downside fuel with GTX 2146. If copper and commodities remain bullish, stocks will float along sideways to sideways higher. The SPX prints the high for the year thus far at 2094.
4/24/16;
7:00 PM EST =
4/19/16; 9:00 AM EST =
4/18/16; 9:54 AM EST
= +94; signal line is +60
4/18/16; 9:46 AM EST
= +80; signal line is +60
4/18/16; 9:36 AM EST
= +64; signal line is +60
4/17/16;
7:00 PM EST = +78; signal line is +60
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