Keybot the Quant remains long. The bulls could not get copper to cooperate so they jump on the retail horse and ride that to the Vault of Heaven. The quant is now tracking banks, retail stocks and copper as the three drivers of stock market direction currently.
Watch XLF 32.03, RTH 160.70 and CPER 21.00. Banks took off higher today pumping the stock market higher along with retail stocks. Bulls need XLF and RTH to remain in their camp and must pull copper to the bull side to create more oomph in stocks. VIX below 26.07 will also help bulls.
Bears need to keep copper and volatility in their camp and pull either XLF or RTH to the bear side. Either one would stop the stock market rally.
Bears need to stab banks and retail stocks to create negativity. Bulls must exalt copper and crush volatility if they want to send stocks strongly higher.
The bulls rule the roost with the algo number 22 points above the signal line trying to pull up and away. The caution flag remains out since the stock market remains erratic and unstable.
10/31/22;
7:00 PM EST EOM =
10/30/22;
7:00 PM EST =
10/28/22;
10:00 AM EST =
10/25/22;
10:00 AM EST =
10/24/22;
11:31 AM EST = -32; signal line is -54
10/24/22;
9:59 AM EST = -48; signal line is -55
10/24/22;
9:44 AM EST = -32; signal line is -55
10/23/22;
7:00 PM EST = -48; signal line is -56
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.