Tuesday, May 3, 2016


Keybot the Quant remains long and has not yet printed any numbers this week. The fight for market direction is between semi's and copper. The bulls need to push SOX above 656 to guarantee a rally higher for stocks. The bears need to push JJC under 25.37 to create a leg lower for stocks. If JJC loses 25.37, and the SPX drops under 2055, Keybot will likely flip short hence the imminent turn notation remains in play. If SOX remains bearish and JJC bullish, stocks will float along sideways with a slight upward bias.

For the SPX starting at 2063, the bulls need to push above 2077 to accelerate the upside. The bears need to push under 2055 to accelerate the downside. A move through 2056-2076 is sideways action for Wednesday. Pay attention to copper; bears will be happy if copper sinks.

5/8/16; 7:00 PM EST =
5/6/16; 9:00 AM EST =
5/1/16; 7:00 PM EST EOM = +76; signal line is +71

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