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

Keybot the Quant remains long as the bull market party lives on, however, the robot is champing at the bit to go short. The algo number drops to +31 out of the gate this morning now 15 points below the signal line but the internal parameters will not yet fully latch to permit the move.

Copper and commodities fail this morning so the expectation was for the stock market to deteriorate. Instead, the SPX prints a new all-time high at 5667.20 and new all-time high at 5669.67. Go figure. Doctor Copper is lying on a gurney but nothing will stop stocks going to the moon. The bank earnings are joyous catapulting XLF skyward creating stock market bullishness.

Here is what matters; CPER 27.99, GTX 3686, VIX 13.72 and SPX 5639.

CPER (copper) and GTX (commodities index) are in the bear camp and should be creating a pall on the stock market. VIX is below 13.72 creating the bullish lift in stocks.

Whittle the action down to CPER 27.99, SPX 5639 and VIX 13.72.

Keybot the Quant will likely flip short tomorrow morning if the SPX fails below 5639 trending lower. This represents a 28-point drop in the S&P futures overnight.

If CPER moves above 27.99, all bets are off and the bulls will resume the upside in stocks. This represents a +0.9% rally in copper futures overnight.

If VIX pops above 13.72, the bears are growling bigtime and a drop through SPX 5639 would be guaranteed. Is all that clear as mud?

Bears win big with SPX below 5639. If copper futures rally more than +0.9% overnight, the bulls are back in biz and will be kicking sand in the bears face. If VIX spikes above 13.72, the stock market will begin falling in earnest. Lots of fun on tap for tomorrow; a decision is needed. That is a look at Both Sides Now. What side are you on? 

7/21/24; 7:00 PM EST =
7/17/24; 9:00 AM EST =
7/16/24; 9:36 AM EST = +31; signal line is +46 but algorithm remains long
7/15/24; 2:27 PM EST = +61; signal line is +46
7/15/24; 1:38 PM EST = +45; signal line is +46 but algorithm remains long
7/14/24; 7:00 PM EST = +61; signal line is +45
7/12/24; 10:00 AM EST = +61; signal line is +44
7/7/24; 7:00 PM EST = +61; signal line is +43
7/5/24; 9:00 AM EST = +61; signal line is +43
7/3/24; 9:36 AM EST = +61; signal line is +41
7/2/24; 10:20 AM EST = +45; signal line is +41
7/2/24; 10:11 AM EST = +29; signal line is +40 but algorithm remains long
7/2/24; 9:59 AM EST = +45; signal line is +41
7/2/24; 9:36 AM EST = +61; signal line is +40
6/30/24; 7:00 PM EST EOM EOQ2 EOH1 = +45; signal line is +40