Keybot the Quant remains long as the algorithm is very active in the back half of the week. The market bears were pushing lower on Wednesday but did not have enough juice to flip the model short. The pre-scheduled number for this week printed a few minutes ago. The knock-down drag-out fight between bulls and bears continues as evidenced by the 1 point difference between the algo number and signal line. Note that the algo prints another rare and maximum +100 reading yesterday morning.
Watch financials. Bears need XLF under 23.55 (now at 23.62 only 7 pennies above) to begin serious downside selling in stocks. If XLF fails at 23.55 and the SPX falls under 2408, Keybot will likely flip short, hence the imminent turn notation is in the title line. VIX moving above 11.78 (now at 9.99) will also help the bears.
Bulls need higher copper and commodities to prove they can take stocks higher. Bulls need JJC above 29.45 (now at 29.17) and it is all clear for upside for equities with the SPX running to 2420 and 2430. Bulls also need GTX above 2287 (now at 2245) which will create a big upside rally.
Bears are rooting for weaker banks (XLF under 23.55) while bulls need higher copper (JJC above 29.45). One or the other will win and that tells you the broad stock market direction ahead.
5/28/17;
7:00 PM EST =
5/26/17; 10:00 AM EST
= +70; signal line is +69
5/25/17; 2:36 PM EST
= +70; signal line is +69
5/25/17; 11:58 AM EST
= +86; signal line is +69
5/25/17; 11:48 AM EST
= +70; signal line is +68
5/25/17; 10:57 AM EST
= +86; signal line is +68
5/25/17; 9:36 AM EST
= +100; signal line is +68
5/24/17; 3:36 PM EST
= +84; signal line is +67
5/24/17; 2:08 PM EST
= +68; signal line is +66
5/24/17; 12:26 PM EST
= +84; signal line is +66
5/24/17; 12:24 PM EST
= +68; signal line is +65
5/24/17; 12:00 PM EST
= +54; signal line is +65 but algorithm remains long
5/24/17; 11:01 AM EST
= +68; signal line is +66
5/23/17;
3:09 PM EST = +84; signal line is +65
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