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

Keybot the Quant remains long but continues champing at the bit to go short. The internal parameters will not yet fully latch to permit the move. Trying to keep it simple, if the SPX drops below the 3113 palindrome and trends lower, Keybot will likely flip short. The SPX begins the hump day session at 3120 so that would be a 7 point drop.

S&P futures are down -8 about 40 minutes before the opening bell. The bears need a slow steady move lower rather than a gap-down open which may trigger a timer that delays the move to the bear side for about 90 minutes. Time will tell.

The SPX prints a new all-time record high yesterday, Tuesday, 11/19/19, at 3127.64 the highest number in stock market history. The all-time closing high is at 3122.03 from Monday, 11/18/19.

Yesterday, copper was goosed during the session to keep the stock market buoyant. However, commodities failed creating a path to negativity going forward. Bulls need to move GTX back above 2443 to stop the sogginess in stocks.

Bears need to keep commodities weak and at the same time roll copper over to the downside. Copper futures went negative about an hour ago. Bears need copper to drop about -0.7% which will guarantee downside for the stock market. Bears would also benefit from higher volatility; they need the VIX to move above 15.12 which will create market carnage.

The bulls need higher commodities while the bears need the SPX to drop under 3113. Bears will then create more selling pressure in equities if copper weakens and if volatility rises. Copper futures are down -0.3%. The VIX is higher above 13 at 13.36.

The Housing Starts yesterday miss forecasts by a tiny hair but the number was healthy. The housing recession guessing game continues. Weekly mortgage applications are released this morning and are not impressive.

11/22/19; 10:00 AM EST =

11/19/19; 9:36 AM EST = +74; signal line is +79 but algorithm remains long
11/19/19; 9:00 AM EST = +72; signal line is +79 but algorithm remains long
11/18/19; 9:36 AM EST = +72; signal line is +79 but algorithm remains long