STOCK MARKET BEARISH -- SHORT

Keybot the Quant remains short and the bears are cruising with the algo number 50 points below the signal line. The robot spits out 6 numbers on Friday. The drama is around the NYA 15622 bull/bear line in the sand as expected.

NYA finishes at 15570 below the critical 15622 so the bears are walking around this weekend with chins held high and chests puffed.

Make no mistake. The collapse in chips leads the broad markets lower. The problems in the housing and manufacturing sectors are old school indicators that did not bring the broad market lower. Once semiconductors failed, however, stocks fell apart. Perhaps the luster is coming off the AI rose. Every Rose Has Its Thorn.

The bulls can only stop the stock market selling if they push NYA back above 15622. In addition, the bulls likely need stronger banks and lower volatility to stop the overall negativity.

Bears will send the stock market another leg lower if they can weaken commodities. Remember, the weak utilities over the last couple months signaled trouble ahead and utes remain a bad omen for stocks going forward (crash profile).

Watch NYA 15622, XLF 34.18 and VIX 14.85. All 3 parameters are bearish. Bulls need at least one of the 3 to turn bullish to stop the stock market selling. If all 3 remain in the bear camp, the beatings will continue until moral improves.

9/24/23; 7:00 PM EST =
9/22/23; 3:39 PM EST = -49; signal line is +1
9/22/23; 3:14 PM EST = -35; signal line is +4
9/22/23; 1:29 PM EST = -49; signal line is +6
9/22/23; 10:05 AM EST = -35; signal line is +9
9/22/23; 9:58 AM EST = -49; signal line is +12
9/22/23; 9:36 AM EST = -35; signal line is +15
9/21/23; 3:55 PM EST = -49; signal line is +18