Keybot the Quant remains long. It looked like copper would fail and help flip the model short but it took all morning for the red metal to crawl into the bear camp and then that was only for a short while. Then, during the final hour of trading, copper fails again, and the quant wants to flip short, but the internal parameters will not permit the move yet.
The bears need a steady move lower in stocks and for the SPX to fall through 3956 trending lower and that should be enough to flip Keybot the Quant to the short side but time will tell. S&P futures are up +4 an hour before the regular US trading session begins. Copper futures are up nearly +1% so the bulls want to maintain control of the stock market.
Bears need SPX below 3956 for victory and to flip Keybot short and the NYA dropping below 15217 would flush the stock market even lower.
Bulls need CPER above 21.73 and/or UTIL above 974.29 to maintain the upside in stocks and CPER will likely turn bullish after the opening bell. UTIL 974 would kick in a stronger upside rally in stocks.
Keybot prints a pre-scheduled number this morning.
12/4/22;
7:00 PM EST =
12/2/22;
9:00 AM EST =
11/30/22;
7:00 PM EST EOM =
11/29/22;
10:00 AM EST =
11/28/22;
3:00 PM EST = +10; signal line is +23 but algorithm remains long
11/28/22;
11:56 AM EST = +26; signal line is +24
11/28/22;
10:56 AM EST = +10; signal line is +24 but algorithm remains long
11/27/22; 7:00 PM EST = +26; signal line is +25
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