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

Keybot the Quant remains long and the algorithm has not printed any numbers the last couple days except for the pre-scheduled number. The bulls are in charge but the price action remains erratic and unstable.

Commodities remain bearish. Bulls need GTX above 1685 to send stocks higher.

Banks and volatility remain bullish creating stock market joy. Bears need XLF below 23.49 and/or VIX above 36.38 to create selling pressure. If either parameter turns bearish, and the SPX slips below 3094, Keybot may flip short.

Utilities are extremely important going forward. Bears need UTIL below 763 for all of next week to maintain negativity. UTIL is at 799. If UTIL closes today above 763, that will give stocks a lift on Monday morning. Generally, over the next three weeks, bears need UTIL below the 750-760 level and trending lower. If so, stocks will be collapsing lower and will remain weak through the end of the year. If UTIL remains above 763 going forward, it tells you that the bulls can keep the stock market elevated. If UTIL moves above 839, it signals loud and clear that the bulls rule the markets and stocks will be catapulting higher. Watch the utilities closely. Any sogginess in utes hints that trouble is ahead for the stock market. If utilities rally higher and UTIL moves above 8 hundo going higher, the bulls rule.

6/21/20; 7:00 PM EST =

6/17/20; 9:00 AM EST = +7; signal line is -7