If the SPX prints below 3222, Keybot will likely flip short. The SPX begins the Tuesday session at 3246 so the bears have their work cut out for them. Monday was odd in that utilities failed into the bear camp but stocks rallied. UTIL is at 870 6-1/2 points below the critical 876.46 bull-bear line in the sand for all of this week. Watch this like a hawk since it is a very bearish development for the stock market. Bulls must push UTIL above 876.46 pronto or they are in serious trouble.
For the week of 1/13/20, next week, the UTIL bull-bear line in the sand is 880.50 so the bulls must not only push price above 876 but then continue pumping higher to 881 by Friday afternoon. Can the bulls do that?
Bears need VIX above 14.07, CPER below 17.18 and/or RTH below 119.27 to create market carnage. The CPER number corresponds to a drop in copper futures of -1.7% so watch for this overnight. The stock market will proportionally sell off according to whether one, two or all three of these parameters fail into the bear camp. If all three remains bullish, the bulls will try to boost utilities higher to create lift for the stock market. The stock market price action is epic, historic, erratic and unstable.
1/10/20;
9:00 AM EST =
1/6/20;
3:48 PM EST = +72; signal line is +80 but algorithm remains long
1/6/20;
3:38 PM EST = +58; signal line is +80 but algorithm remains long
1/6/20;
3:02 PM EST = +72; signal line is +79 but algorithm remains long
1/6/20; 9:36 AM EST = +58; signal line is +79 but algorithm remains long
1/6/20; 9:36 AM EST = +58; signal line is +79 but algorithm remains long
1/6/20; 3:06 AM EST = +74; signal line is +78
but algorithm remains long
1/5/20; 7:00 PM EST = +88; signal line is +75
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