Keybot the Quant remains bullish and idles along last week without printing any numbers except for the pre-scheduled Friday number. The algo number is only 14 points above the signal line so the bulls need more juice to take stocks higher and it comes in the form of utilities.
UTIL 999.90 is the bull/bear line in the sand this week and price starts at 1014 providing further buoyancy in stock prices for bulls. Watch it closely because if UTIL 999.90 fails, the stock market will be soggy and not making further upside progress.
Stronger copper and commodities will help bulls. Weaker utilities and banks, and higher volatility, will help the bears. Monday will likely be status quo for markets moving sideways without conviction either way but if UTIL remains above 1K, the US stock market will catch a bid higher.
8/14/22;
7:00 PM EST =
8/12/22;
10:00 AM EST =
8/7/22; 7:00 PM EST = +9; signal line is -5
8/5/22;
9:00 AM EST = +9; signal line is -5
7/31/22;
7:00 PM EST EOM = +9; signal line is -5
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