Keybot the Quant remains long heading into the new week of trading. The algo number is 9 points below the signal line wanting the quant to flip back to the short side.
If the SPX fall below 3580, starting the week at 3583, Keybot the Quant will likely flip short. Only 3 points of downside sounds easy enough for the bears to quickly take back stock market control but S&P futures are trading higher up +11 Sunday evening in the States.
Bulls need to bring game to begin the new week. Bulls need stronger commodities, copper and banks to prove they are deserving of a stock market rally. Bulls need GTX above 3627, CPER above 21.10 and XLF above 32.07, respectively. Any 1 of the 3 turning bullish would be good enough to keep a rally going. Copper and banks need to rally about 3% to meet the bull goal. Commodities remain key and GTX needs to rally only about +1% to keep the bulls in business.
The bulls will be in big trouble if S&P futures turn negative. The bears will be in trouble if GTX, CPER or XLF turns bullish. Keybot prints one pre-scheduled number this week on Wednesday morning.
10/23/22;
7:00 PM EST =
10/19/22;
9:00 AM EST =
10/16/22;
7:00 PM EST = -64; signal line is -55 but algorithm remains long
10/14/22; 10:00 AM EST = -64; signal line is -54
but algorithm remains long
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