Keybot the Quant remains long as the wild stock market action continues. The SPX lost the critical 4462 level again but catapults back above after this morning's (Thursday) opening bell. The banks and copper are controlling stock market direction today. The quant spits out 8 numbers yesterday and already 3 more this morning.
Bulls need XLF above 38.15 to keep the rally going. XLF already flipped bullish, then bearish, today, and continues battling at 38.15 right now. It is important.
Bears need CPER below 28.30 which represents a -1.2% drop in copper futures so the red metal will have to retrace its +1.2% gain today.
The SPX is well above 4462 and NYA above 16700, critical cyclical market indicators, so the bulls are grinning like Cheshire cats while partying with a hookah smoking caterpillar.
The banks tell the direction forward. The stock market has legs higher if XLF dances above 38.15 and higher. The bears will begin reasserting themselves if XLF cannot move above 38.15.
The bulls remains confident with the algo number 22 comfortable points above the signal line. Keep an eye on copper today.
4/24/22;
7:00 PM EST =
4/21/22;
9:44 AM EST = +55; signal line is +33
4/21/22;
9:37 AM EST = +71; signal line is +33
4/21/22;
9:36 AM EST = +55; signal line is +32
4/20/22;
3:59 PM EST = +41; signal line is +31
4/20/22;
3:18 PM EST = +55; signal line is +31
4/20/22;
2:42 PM EST = +41; signal line is +30
4/20/22;
12:56 PM EST = +55; signal line is +29
4/20/22;
11:18 AM EST = +39; signal line is +27
4/20/22;
10:15 AM EST = +55; signal line is +28
4/20/22;
9:50 AM EST = +39; signal line is +26
4/20/22;
9:36 AM EST = +55; signal line is +25
4/19/22;
3:59 PM EST = +27; signal line is +24
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