Bulls need UTIL above 729.37 to create lift in the stock market. A continued move above and below this level, then resolving above, likely indicates that the relief rally for equities is underway.
Bears need utilities to sell off as well as copper and commodities. The SPX 2747 bull-bear line in the sand is uber importante. This represents the point of no return for the stock market and the SPX begins the day only 3 points above at 2750. If SPX 2747 fails and price remains below and trends lower, the stock market will be weak for weeks, months and perhaps years ahead. Keybot prints a pre-scheduled number tomorrow morning.
UTIL 729.37 (for happy bulls) or SPX 2747 (for ecstatic bears) will tell the market story on Tuesday. S&P futures are up +9 three hours before the opening bell.
10/21/18;
7:00 PM EST =
10/17/18;
9:00 AM EST =
10/15/18; 3:08 PM EST =
+8; signal line is +26
10/15/18; 2:27 PM EST =
+24; signal line is +27
10/15/18; 11:10 AM EST
= +8; signal line is +28
10/15/18; 10:58 AM EST
= +24; signal line is +29
10/15/18; 9:36 AM EST =
+8; signal line is +29
10/14/18;
7:00 PM EST = +24; signal line is +30
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