The Friday session started out with bulls hopeful. Utilities jump strongly higher with UTIL above the key bull-bear levels which stops the stock market selling. However, bulls need stronger copper to mount a strong relief rally but copper was negative and sinking. This told you that the bulls do not have strength to push higher. Sure enough, the utes rolled over to the downside and the stock market slid down the rabbit hole printing the worst week in a couple decades. December is the worst month since the 1930's and the Great Depression.
Utes and copper remain a key focus of the algorithm which is now tracking the UTIL 736.88 and 708.35 levels, extremely important for all of next week, and CPER 17.27. Bulls need UTIL above 737 and CPER above 17.27 to mount a strong stock market relief rally.
If UTIL loses the 708 level, the stock market will likely crash a la 1929.
IF UTIL remains between 709 and 736, and CPER below 17.27, status quo, the stock market will likely chop sideways with a slight downward bias. However, anything can happen since the Keybot algorithm only sees 1's and 0's as the "Trump Shutdown," according to the democrats, plays out. Poor Santa Claus is stuck in the middle.
If UTIL loses the 708 level, the stock market will likely crash a la 1929.
IF UTIL remains between 709 and 736, and CPER below 17.27, status quo, the stock market will likely chop sideways with a slight downward bias. However, anything can happen since the Keybot algorithm only sees 1's and 0's as the "Trump Shutdown," according to the democrats, plays out. Poor Santa Claus is stuck in the middle.
12/23/18;
7:00 PM EST =
12/21/18; 1:56 PM EST =
-36; signal line is -13
12/21/18; 10:00 AM EST
= -20; signal line is -11
12/21/18; 9:41 AM EST =
-20; signal line is -10
12/20/18;
1:46 PM EST = -36; signal line is -10
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