STOCK MARKET BULLISH -- LONG -- CAUTION -- TURN MAY BE IMMINENT

Keybot the Quant remains long but is champing at the bit to go short. Commodities failed yesterday setting-up the algo to flip to the bear side but the internal parameters are not fully latched to permit the move.

If the SPX falls below 2853, Keybot will likely flip to the short side. The SPX begins the Thursday trade at 2858. S&P futures are up 2 points as this message is typed 3-1/2 hours before the opening bell.

The bulls need higher copper and/or commodities to right the ship and maintain the upside trend in the stock market. Bulls need either JJCTF above 31.95 and/or GTX above 2712. Copper futures are trading strongly higher.

The bears have it on a silver platter if they want it only having to send the SPX below 2853 which will likely flip Keybot short. Bears would benefit from a slow and steady move lower in the S&P 500 and not a gap-down open. Thus, bears win with SPX 2853 while bulls win with JJCTF 31.95 and GTX 2712.

8/12/18; 7:00 PM EST =

8/8/18; 9:56 AM EST = +70; signal line is +72 but algorithm remains long

8/6/18; 9:36 AM EST = +84; signal line is +72