UTIL 827.83, UTIL 835.48 and NYA 12482 will dictate the market story on Monday. UTIL begins at 828.60 which creates market bullishness above 827.83 but market sogginess remains with it below 835.48. Utes will likely pick a direction on Monday morning. Same dealio with the NYA index. It will pivot higher or lower on Monday and the broad stock market will go in the same direction.
Stocks are obviously at a major pivot right now. Will next week smell like beautiful roses as utilities and the NYA index skyrocket higher sending the broad stock market into the stratosphere, or, will the smell of napalm fill the air with the major indexes and utilities collapsing lower? The one-month plus of rampant complacency and market fearlessness hints that napalm may win but Keybot the Quant only sees 1's and 0's. Time will tell. The bulls are in charge with the algo number 19 points above the signal line. Next week may be historic for the stock market.
7/19/20; 7:00 PM EST =
7/17/20;
10:00 AM EST = +42; signal line is +23
7/17/20;
9:00 AM EST = +42; signal line is +22
7/14/20;
9:44 AM EST = +42; signal line is +20
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