Keybot the Quant flips back to the bull side at the opening bell today at SPX 1874. The financials are stronger giving the bulls the nod. This whipsaw is not particularly surprising considering yesterday's very odd and rare price behavior. Stay alert for a whipsaw back to the bear side today or tomorrow. The bears likely need both JJC under 37.50 and XLF under 21.80 to place the algo in position to go short again. Copper, financials and semiconductors all remain in the bull camp creating market lift.
More information is found at Keybot's site;
Keybot the Quant
Note Added 10:50 AM: The drama continues. JJC 37.50 on the dot. Bears are trying to stop the market upside. Whichever way copper pivots from here the broad equity markets will follow.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.