Keybot the Quant remains short but the algo number is only one measly point below the signal line. Flip a coin. The bulls pumped banks last week which allowed the stock market to catch its breath and stabilize. The battle picks up in the same place tomorrow with banks, retail stocks and commodities the three main stock market drivers currently according to the quant.
XLF 41.99, RTH 203.50, and GTX 3634 are the key bull/bear lines in the sand directly impacting stock market direction. XLF is creating bullish joy in stocks while RTH and GTX create negativity.
Bears need to pull XLF back below 41.99 pronto, otherwise, the stock market is going to keep moving higher. Bulls need RTH above 203.50 that will create bigtime upside joy in the stock market. Watch Scamazon and there are retail earnings out this week that will tell the tale such as HD. Bulls need GTX above 3634 so watch the commodities. If either RTH or GTX turn bullish, consider the imminent turn to the long side to be in play.
Bears need the banks, insurance companies, and credit card companies to drop to maintain control of the stock market. Bulls need stronger retail stocks and commodities to run the stock market higher and higher.
Watch XLF like a hawk. If XLF remains above 41.99, the bulls will be slapping the bears in the face all day long. If XLF falls below 41.99, trending lower, that will be the start of a new move lower for the stock market. If XLF hesitantly falls through 41.99, then recovers back above, then dips below for a little while, then back above, etc..., this behavior will hint that the quant is likely ready to flip long.
Keybot the Quant prints two pre-scheduled numbers both on Friday morning one before the opening bell and one after. Speaking of bells, William Bell and the Poison in the Well.
8/18/24;
7:00 PM EST =
8/16/24;
10:00 AM EST =
8/16/24;
9:00 AM EST =
8/11/24; 7:00 PM EST = -15; signal line is -14
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