Tuesday, June 28, 2016


Keybot the Quant remains short as the markets stage a strong comeback rally pushing both the SPX above 2027 and NYA above 10112 which provides bull fuel. The bears need to push one of these parameters back to the bear side under the levels shown to stop the relief rally.

The bulls need higher retail stocks and/or chips to confirm a sustainable upside rally. Watch RTH 75.96 and SOX 675; either one will create strong bull fuel. If one of these two parameters turn bullish, Keybot may flip long immediately hence the imminent turn notation in the title line.

For the SPX starting Wednesday at 2036, the bulls need any smidge of green in the S&P futures and bingo, stocks will rally strongly higher. The bears must push under 2007 to regain their mojo, a formidable task, so instead bears will focus on sending the SPX and NYA lower to stall the upside rally. A move through 2008-2035 is sideways action for hump day. Retail stocks will likely dictate broad stock market direction; focus on that RTH 75.96 level. Currently, as retail stocks go, so go the markets.

7/3/16; 7:00 PM EST =
6/30/16; 7:00 PM EST EOM =
6/28/16; 2:57 PM EST = +36; signal line is +43
6/28/16; 10:00 AM EST = +22; signal line is +43
6/28/16; 9:36 AM EST = +19; signal line is +45
6/27/16; 9:37 AM EST = +5; signal line is +46

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