Keybot the Quant remains long but wants to flip short as soon as the internal parameters latch. Copper remains weak. The stock market launches higher in the Friday trade after the jobs report. The algo only printed the pre-scheduled number and then idled along all day after that.
JJC 24.92 is the key. Stocks will roll over to the downside if copper remains weak. You can also monitor the copper price at the 2.17 to 2.19 level, now at 2.15. JJC above 24.92 and copper above the 2.17-2.19 level will prove that the market bulls will take the stock market higher, otherwise, stocks will likely roll over to the downside. The imminent turn remains in play with the algo number 14 points below the signal line. Keybot prints the Sunday pre-scheduled number tomorrow and a look at the week ahead can be provided.
8/7/16;
7:00 PM EST =
8/5/16; 9:00 AM EST =
+63; signal line is +77 but algorithm remains long
8/4/16;
12:25 PM EST = +63; signal line is +76 but algorithm remains long
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