Keystone's proprietary algorithm, Keybot the Quant, flipped back to the long side at 12:04 PM EST at SPX 1364. Copper helped the bulls today but JJC is weakening as the day moves along. Continue to watch JJC 48.43. The tell for the markets was about an hour ago when the Nasdaq (COMP) started to outperform the SPX to the upside. This provides bull market fuel. AAPL remains elevated. Markets remain unstable, stay cautious since a whipsaw back to the short side would not be surprising either today or tomorrow, or even early Monday.
Reference Keybot's site for further information;
http://www.keybotthequant.blogspot.com
LOL, my red-day predication from yesterday didn't turn out correct so far... oh well...
ReplyDeleteHello Arnie, day-to-day predcitions are the hardest things to attempt. Keybot the Quant algo flipped back to the long side today so even the robots are getting tossed around.
ReplyDeleteA key thing to tell you the underlying broad market direction is whether or not tech leads the broad markets, if so, the move is strong in that direction, if not, the move is weak. Nasdaq is leading the SPX up currently which has given the broad indexes their afternoon juice. If Nasdaq fades (and this is all due to AAPL), then the broad indexes will reverse just as fast.
yeah, thing is with 4th-waves that they are very hard to predict, could be 100% retracement, often ~62.8% retracement, which is at ~1364, right where the market now has stalled (and closed the gap). If 1369 is crossed then this ain't no 4th wave... hahaha
ReplyDelete