The SOX came up to poke at the 1370 level, that Keybot called out ahead of time, and failed. Isn't it astounding that Keybot can perform such a feat? That guaranteed soggy stocks to finish the week and US equities were flat on the day. If SOX would have taken out 1370, the stock indexes would have jumped strongly higher. Watch the semi's.
Weak chips and banks are causing market weakness while stronger utilities and copper, and lower volatility, are creating market lift.
Bears need UTIL under 711, JJCTF under 30.34 and/or VIX above 12.97. Bulls need SOX above 1370 and/or XLF above 28.05. These five parameters are steering the stock market ship to begin the new week ahead. If the bulls flip either the semiconductors or banks bullish, either one would do, and the SPX moves above 2921, Keybot may flip long.
Watch SOX 1370 (now at 1367) at the opening bell on Monday morning since it will immediately dictate the broad stock market direction. Keybot prints one pre-scheduled number this week on Friday morning.
10/7/18;
7:00 PM EST =
10/5/18;
9:00 AM EST =
9/30/18; 7:00 PM EST EOM
EOQ3 = +68; signal line is +73
9/28/18;
10:00 AM EST = +68; signal line is +73
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