Keybot the Quant remains bearish as the stock market rebounds on Friday morning. Bears need lower commodities and banks to create market carnage, GTX under 2214 (now at 2223) and XLF under 24.64 (now at 24.83), respectively.
Bulls need higher chips and retail stocks to move the stock market higher, SOX above 1076 (now at 1063) and RTH above 80.78 (now at 79.99), respectively. Semiconductors are key. If SOX remains below 1076, the bears are going to remain in control going forward. If SOX moves above 1076, the relief rally has upside legs. The caution flag will come out if SOX moves above 1076. If commodities and banks remains bullish, and chips and retail stocks remain bearish, the stock market will stagger along sideways into the weekend.
8/13/17;
7:00 PM EST =
8/10/17; 10:07 AM EST
= +53; signal line is +86
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