Keybot the Quant remains short but the algo number is only one single hair below the signal line. The bulls have been partying this week and have success with pumping copper and commodities higher.
The bears are in charge but the bulls are knocking at the door. CPER must remain above 21.27 and it should since copper futures are up +0.9% currently. With copper in the bull camp, commodities are the next set up to go bullish and GTX rallied higher yesterday. GTX needs to move above 3623 to signal the all-clear for stocks. RTH above 163.65, XLF above 32.51 and VIX below 25.35 will also help the bulls.
S&P futures are down -27 points and the VIX is at 29.26 as this is typed 3 hours before the opening bell in the US for the regular session. A soggy start is on tap.
It looks like the bulls will have to do it with commodities and GTX. If copper remains in the bull camp, and GTX pops above 3623 and remains above, the imminent turn to the long side is in play. If GTX turns bullish, and the SPX moves above 3807, Keybot the Quant will likely flip long. Bulls are going to need about a 50-point turn around to the upside in futures if they want to bring game today and try and get the quant to flip.
10/9/22; 7:00 PM EST =
10/7/22; 9:00 AM EST =
10/5/22; 2:57 PM EST = -48;
signal line is -47
10/5/22; 1:30 PM EST = -64;
signal line is -45
10/5/22; 12:42 PM EST =
-50; signal line is -42
10/5/22; 12:15 PM EST =
-64; signal line is -40
10/5/22; 11:33 AM EST =
-50; signal line is -38
10/3/22; 9:36 AM EST = -64; signal line is -37
10/2/22;
7:00 PM EST EOM EOQ3 = -48; signal line is -35
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