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

Keybot the Quant remains long but is champing at the bit to go short. The algo number is 7 points below the signal line wanting the quant to flip short but the internal parameters are not yet fully latched to permit the move. If the SPX drops below 3112 and trends lower, Keybot will likely flip short. Thus, watch the S&P futures overnight to see if the bears can develop -10 points of downside which would spell trouble for stocks tomorrow.

The SPX prints the highest number in history today, Monday, 11/18/19, at 3124.17, the new all-time high and the new all-time closing high at 3122.03.

Copper failed this morning landing in the bear camp creating stock market downside. The bulls need CPER above 16.58 (now at 16.48) to prevent stock market weakness. The bulls need a +0.8% rise in copper futures which are currently trading down -0.1%.

Commodities are a major battle zone. The bears need GTX below 2446 (now at 2460) to create stock market negativity. If the GTX remains above 2446, the bears will not have much oomph to the downside.

Housing Starts drop in the morning and are uber important. The quant identified 7/17/19 as the start of a housing recession so the housing data tomorrow morning is super critical in determining if this forecast remains in play. Looking at the algo's data, the housing recession call should remain in place and ongoing since Starts will need to be 1.8 million-ish units and that is not going to happen. Copper and commodities are the main drivers of stock market direction these days.

11/24/19; 7:00 PM EST =

11/22/19; 10:00 AM EST =
11/19/19; 9:00 AM EST =
11/18/19; 9:36 AM EST = +72; signal line is +79 but algorithm remains long
11/17/19; 7:00 PM EST = +88; signal line is +79