Keybot the Quant remains long. Friday was a bull orgy with utilities, retail stocks and chips rallying sending the broad stock market significantly higher the SPX at 3900-ish. The bulls are cruising with their feet up on the dashboard since the algo number is 58 points above the signal line.
Friday was the Mexican standoff and the bulls win big. The bulls have to boost commodities and the SPX index to prove that the upside will sustain for many weeks. Bulls need GTX above 3500 and SPX above 4030 to create big upside in stocks.
Bears need weaker chips and retail stocks to stop the upside rally. Bears need RTH below 162 and SOX below 2596. LULU rips her yoga pants after bending over due to eating all the holiday treats and cookies over the last month. The sports retailers are sinking in the pre-market (NKE, UA, etc....) which will make RTH soggy.
The bulls do not have a care in the world sitting back expecting more upside.
1/15/23;
7:00 PM EST =
1/13/23; 10:00 AM EST =
1/8/23;
7:00 PM EST = +48; signal line is -10
1/6/23;
12:58 PM EST = +48; signal line is -12
1/6/23;
10:40 AM EST = +32; signal line is -15
1/6/23;
10:22 AM EST = +16; signal line is -17
1/6/23;
10:07 AM EST = +0; signal line is -18
1/6/23; 9:00 AM EST = -16; signal line is -19
1/5/23; 9:36 AM EST = -16; signal line is -19
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