Keybot the Quant remains long as the bulls explode markets higher today after the Federal Reserve dovish minutes at 2 PM EST. The algo is very active this week printing another 8 numbers today. The algo number is 40 points above the signal line so the bulls are cruising without a care in the world.
The algo is tracking several parameters now any of which may create a direction change in the stock market. For the upside rally to continue, bulls need either UTIL above 589.45, JJC above 27.93 and/or GTX above 2780. For the upside stock market rally to stall, the bears need either RTH under 75.58, XLF under 23.36 and/or VIX above 17.86. One of these six parameters will flinch telling you the market direction ahead.
For the SPX starting at 2013 on Friday, the bulls need to touch the 2017 handle and bingo, the SPX will be in the 2020's in a heartbeat. The bears need to push under 1988 to accelerate the downside. A move through 1989-2016 is sideways action to end the week. The bulls are in full control; pay close attention to the banks and XLF 23.36 since price is at 23.39 only three pennies on the bull side. The stock market rally will stall if XLF drops under 23.36.
10/11/15;
7:00 PM EST =
10/8/15; 3:58 PM EST
= +19; signal line is -21
10/8/15; 3:40 PM EST
= +3; signal line is -24
10/8/15; 3:16 PM EST
= +19; signal line is -26
10/8/15; 2:37 PM EST
= +3; signal line is -28
10/8/15; 11:12 AM EST
= -27; signal line is -30
10/8/15; 10:42 AM EST
= -11; signal line is -31
10/8/15; 10:17 AM EST
= -27; signal line is -32
10/8/15; 10:02 AM EST
= -11; signal line is -33
10/7/15;
10:40 AM EST = -27; signal line is -34
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