STOCK MARKET BULLISH -- LONG

Keybot the Quant remains long and did not print any numbers on Friday except for the pre-scheduled number despite the collapse in stocks during the afternoon. The bulls are cruising with the algo number 29 points above the signal line. The bulls have every major market parameter in their camp except for copper, the red metal, that sits in the bear camp.

Bulls need JJCTF above 32.70 (now down at 30.83) to prove that new all-time records will occur in the stock indexes especially the SPX (S&P 500) and INDU (Dow) which have lagged the COMPQ (Nasdaq Composite) and RUT (Russell 2000). Any lift in copper will hint that the bulls remain firmly in control of the stock market direction.

Bears need weaker commodities and higher volatility, GTX below 2712 (now at 2720) and VIX above 15.28 (now at 13.03), respectively. Note that GTX fell on Friday to kiss the 2712 but the bulls came in to defend and bounce commodities so they could remain in control of stock market direction. If either parameter turns bearish, the upside in stocks is done and consider the caution flag to be out. If both turn bearish, the imminent turn to the bear side is on the table.

You can watch copper futures overnight to see if the bulls have any further oomph and the VIX begins trading at 3 AM EST which will show if the bears have any juice, or not.

Keybot prints three pre-scheduled numbers this week two on Tuesday and one on Friday morning. The month of July ends on Tuesday (EOM).

8/5/18; 7:00 PM EST =

8/3/18; 9:00 AM EST =

7/31/18; 7:00 PM EST EOM =

7/31/18; 10:00 AM EST =

7/29/18; 7:00 PM EST = +84; signal line is +55

7/27/18; 10:00 AM EST = +84; signal line is +54