Keybot the Quant remains long but the algo number is only 2 points above the signal line. The quant is very active on Friday into today. The main battle for stock market direction is the commodities versus the retail stocks. Very simply, the bulls need GTX above 3615.80 and the bears need RTH below 161.40. Who will win?
GTX was in the bull camp this morning and just stumbled into the bear camp so watch it closely. You can watch $GTX on stockcharts.com. If GTX turns bullish again that will hint at more upside in stocks ahead. The stock market will start falling apart if retail stocks turn bearish.
Bulls would also benefit if VIX drops below 25.80. It would be off to the races for stocks. If VIX remains above 25.80, it tells you that stocks are going to remain weak and the rally will fizzle. Stocks typically rally into the Fed decision on Wednesday.
For now, the caution flag remains out. If RTH loses 161.40, consider the imminent turn to the bear side to be on the table.
11/6/22;
7:00 PM EST =
11/4/22;
9:00 AM EST =
10/31/22;
7:00 PM EST EOM =
10/31/22;
11:03 AM EST = -34; signal line is -36
10/31/22;
9:57 AM EST = -34; signal line is -37
10/31/22;
3:06 AM EST = -34; signal line is -38
10/30/22;
7:00 PM EST = -20; signal line is -39
10/28/22;
3:34 PM EST = -20; signal line is -40
10/28/22;
2:53 PM EST = -34; signal line is -42
10/28/22;
2:32 PM EST = -20; signal line is -43
10/28/22;
1:44 PM EST = -34; signal line is -44
10/28/22;
1:37 PM EST = -20; signal line is -45
10/28/22;
10:14 AM EST = -34; signal line is -46
10/28/22; 10:00 AM EST = -20; signal line is -47
10/28/22;
9:59 AM EST = -20; signal line is -48
10/28/22;
9:36 AM EST = -34; signal line is -49
10/26/22;
10:43 AM EST = -4; signal line is -50
10/26/22;
9:39 AM EST = -18; signal line is -52
10/25/22;
10:00 AM EST = -34; signal line is -53
10/24/22;
11:31 AM EST = -32; signal line is -54
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