STOCK MARKET BULLISH -- LONG

Keybot the Quant remains long only printing one number this week thus far. The bulls are running higher on the happy Fed talk and inflation data that shows easing. The dollar falls out of bed catapulting commodities and copper higher pumping US equities higher.

Utilities are a rocket launch (see previous posts explaining utes and charts on The Keystone Speculator blog) this week so the bulls are trying to prevent a stock market crash in the weeks ahead. UTIL is at 927. UTIL 940 and 950 are the two key bull/bear lines in the sand this week with only 2 sessions remaining. For next week, UTIL 971 and 950 are the two bull/bear lines in the sand.

If UTIL pops above 940 today or tomorrow, the stock market will take another leg higher. Bears must pull utes lower and prevent 940 with all their might. If 940 is taken out, watch 950 next since that will create more euphoria in stocks and a move above 971 next week will create a very bullish scenario ahead. A lot is riding on the utilities over the next 2 days.

Bears need UTIL to stall here and stay away from 940. If UTIL remains below 940 going forward, the stock market will likely begin a huge down move that will be extremely devastating (potential crash) over the coming weeks and couple-few months.

Copper creates yesterdays stock market joy. CPER overtakes 23.47 now at 23.77. Bears need CPER below 23.47 to stop the upside rally in the stock market. This represents a -1.3% loss in copper futures that are currently up +0.4%. Bears also need to send GTX below 3283 if they want to growl. The bulls are happy walking around with their chests puffed out feeling like a Sharp Dressed Man.

7/16/23; 7:00 PM EST =
7/14/23; 10:00 AM EST =
7/12/23; 9:36 AM EST = +44; signal line is +13
7/9/23; 7:00 PM EST = +28; signal line is +11
7/7/23; 1:37 PM EST = +28; signal line is +10