Tuesday, November 22, 2016

STOCK MARKET BULLISH -- LONG

Keybot the Quant remains long printing one number thus far this week. The bulls are firmly in charge with the algo number 32 points above the signal line. The SPX (S&P 500) moves above 2200 and the INDU and DJI (Dow Jones Industrials) move above 19K for the first time in history. Retail stocks move higher, volatility moves lower, and commodities, GTX, launch higher providing three slaps to the bear's faces. GTX moves above 2249 creating upside fuel for the broad market.

Bulls need higher utilities (UTIL above 652) to keep floating stocks higher. Bears need GTX under 2248.60 and/or VIX above 13.85 to prove they got the beans to take the stock market lower. Stocks will float along sideways to sideways higher if VIX remains below 13.85 and GTX above 2249. VIX is currently printing at 12.72 and GTX is at 2255 at 12:45 PM EST, Tuesday, 11/22/16. The bulls will coast along without a care in the world unless volatility rises or commodities drop.

11/27/16; 7:00 PM EST =
11/23/16; 10:00 AM EST =
11/21/16; 10:30 AM EST = +62; signal line is +30
11/20/16; 7:00 PM EST = +48; signal line is +28

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.