STOCK MARKET BEARISH -- SHORT -- CAUTION

Keybot the Quant remains short as stocks take a dip lower last week. The bears remain in control but the algo number is only 14 points below the signal line so the bulls remain in the game.

Financials led the way higher for the stock market to top-out and the quant has them on the radar again tracking XLF 41.96 as the bull/bear line in the sand. Price begins the new week of trading at 42.09 only 13 measly cents in the bull camp creating stock market positivity. Bears need XLF below 41.96 to kick-in another leg lower for stocks. As financials go, so goes the stock market.

Scamazon soiled the sheets after earnings last week dragging down RTH so this bears watching. If bulls can mount a comeback they will need RTH above 204.70 (now at 201.62). A lot of that depends on AMZN so watch that in the pre-market. The bulls need RTH above 204.70 if they want to wrestle back control of the stock market.

It is about the banks to start the week. If XLF remains above 41.96, the stock market will stabilize and if XLF begins tracking higher, so will stocks. If XLF falls below 41.96, the Wall Street carnage will continue. The stock market remains shaky, unstable and moody, like Jack Kerouac.

8/11/24; 7:00 PM EST =
8/4/24; 7:00 PM EST = -15; signal line is -1
8/2/24; 3:32 PM EST = -15; signal line is +0
8/2/24; 1:55 PM EST = -31; signal line is +1
8/2/24; 11:41 AM EST = -15; signal line is +4
8/2/24; 11:14 AM EST = -31; signal line is +5
8/2/24; 9:00 AM EST = -15; signal line is +7
8/1/24; 3:31 PM EST = -15; signal line is +8
7/31/24; 7:00 PM EST EOM = +1; signal line is +10
7/30/24; 10:00 AM EST = +1; signal line is +10
7/29/24; 11:45 AM EST = +1; signal line is +11
7/29/24; 9:36 AM EST = -15; signal line is +12
7/28/24; 7:00 PM EST = +1; signal line is +13