Monday, March 2, 2015

STOCK MARKET BULLISH -- LONG -- CAUTION

Keybot the Quant remains long. The bulls throw a euphoric party with the Nasdaq hitting 5000 not seen in 15 years. Treasury rates jump higher so utilities are in complete collapse. UTIL tumbles to 579 which is an ominous signal for markets for the weeks ahead. Copper remains buoyant so the bulls are able to print new highs in stocks. JJC is at 32.13 remaining above the 32.00 bull-bear line in the sand identified by the algorithm albeit by 13 pennies.

Watch copper like a hawk; it is running the show today and the major influence on stock market direction. If JJC drops under 32, markets will begin selling off. If JJC loses 32, and the SPX drops under 2104, and both remain under, Keybot will likely flip short. Hence, the caution appears in the title line. If JJC loses 32 consider the imminent turn status to be in play. So despite the euphoric equity highs, the market metrics are shaky. If copper moves strongly higher the bulls will be creating further new highs in equities.


The SPX is battling at the 2113-2114 area trying to create an upside acceleration but cannot yet push up through; the bears are maintaining this level as a resistance ceiling. JJC 32.00 determines the market directional answer. JJC is currently printing at 32.19 so the bulls are now 19 cents on the good side. Bears need to push copper lower or they got nothing.

3/8/15; 7:00 PM EST =
3/6/15; 9:00 AM EST =
3/2/15; 9:36 AM EST = +68; signal line is +61
3/1/15; 7:00 PM EST EOM = +84; signal line is +61

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