Keybot the Quant remains on the short side today as the wild and crazy market action continues. Keybot flips bearish today but is already champing at the bit to whipsaw back to the long side. The bulls jam commodities higher to try and regain control of the stock market.
If the SPX moves above 3119, which will probably have to occur after 10:25 AM EST tomorrow (Thursday, 11/21/19), Keybot will likely flip long. Thus, the imminent turn notation remains in the title line. The quant is short but the bulls are in control of the stock market with the algo number 8 points above the signal line. The internal parameters of the model are creating market negativity. It is a bull-bear battle. Flip a coin.
The bears need weaker copper and commodities and higher volatility if they want to take the stock market lower. Bears must push CPER below 16.59, GTX under 2446 and/or VIX above 15.12, respectively, to create market carnage. In fact, you can gauge the amount of downside juice that is in the stock market by these three parameters.
If none of the three parameters turn bearish, the bears got nothing and stocks will rally. If 1 of the 3 turn bearish, the imminent turn notation immediately goes away and equities will be falling. If 2 of the 3 turn bearish, stocks will be accelerating lower. If all 3 turn bearish, the caution flag will be removed and stocks will be falling into oblivion taking out stops like they are not even there.
Pay attention to copper. For the last couple weeks, 'as copper goes, so goes the market'. Copper futures need to drop -0.2%, a marginal amount, to guarantee stock market downside ahead; futures are currently down -0.1%. Copper overnight provides a heads-up for the US stock market on Thursday.
S&P futures are down -6 on Wednesday evening in the States on the East Coast. The Impeachment Hearings continue into the evening. The US-China trade deal negotiations continue. The global central bank money printing continues. The beat goes on.
11/24/19; 7:00 PM EST =
11/22/19; 10:00 AM EST =
If the SPX moves above 3119, which will probably have to occur after 10:25 AM EST tomorrow (Thursday, 11/21/19), Keybot will likely flip long. Thus, the imminent turn notation remains in the title line. The quant is short but the bulls are in control of the stock market with the algo number 8 points above the signal line. The internal parameters of the model are creating market negativity. It is a bull-bear battle. Flip a coin.
The bears need weaker copper and commodities and higher volatility if they want to take the stock market lower. Bears must push CPER below 16.59, GTX under 2446 and/or VIX above 15.12, respectively, to create market carnage. In fact, you can gauge the amount of downside juice that is in the stock market by these three parameters.
If none of the three parameters turn bearish, the bears got nothing and stocks will rally. If 1 of the 3 turn bearish, the imminent turn notation immediately goes away and equities will be falling. If 2 of the 3 turn bearish, stocks will be accelerating lower. If all 3 turn bearish, the caution flag will be removed and stocks will be falling into oblivion taking out stops like they are not even there.
Pay attention to copper. For the last couple weeks, 'as copper goes, so goes the market'. Copper futures need to drop -0.2%, a marginal amount, to guarantee stock market downside ahead; futures are currently down -0.1%. Copper overnight provides a heads-up for the US stock market on Thursday.
S&P futures are down -6 on Wednesday evening in the States on the East Coast. The Impeachment Hearings continue into the evening. The US-China trade deal negotiations continue. The global central bank money printing continues. The beat goes on.
11/24/19; 7:00 PM EST =
11/22/19; 10:00 AM EST =
11/20/19; 11:01 AM EST = +88; signal line is +80 but algorithm remains short
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