Keybot the Quant remains long after the Jerome Powell show yesterday. The Fed is reducing the pace of rate increases (that choke-off the economy for the sake of reducing inflation) so the bulls are buying stocks. Did you see the utilities?
UTIL moves above 974. This is a big f&*$#n' deal, as Sleepy Joe Biden told Emperor Obama years ago. If UTIL ventures above 1000, that will also be a big deal and lead the way to far higher stock prices. If UTIL fails from here, however, there will be Hell to pay in the US stock market and an epic multi-month crash will likely begin.
Today's battle for stock market directional control is utes versus commodes. Bulls need UTIL to remain above 974 and for GTX to regain 3600 moving higher. This will create another new leg higher for US stocks.
Bears need GTX to remain bearish below 3600 and at the same time pull UTIL back below 974 to create negativity. This will probably not be enough to flip the model short but super close. If UTIL fails, study its behavior. If UTIL loses 974 for a few minutes or hour or so, then regains it and that goes on for a while, but then price loses 974 again (jogging), that tells you the quant is likely getting ready to go short.
SPX begins at 4080. SPX 4155 is a major bull/bear line in the sand perhaps the most important number in the stock market. If the S&P 500 regains 4155, which is 75 points away, the United States stock market will rally bigtime traveling to the moon going forward.
On the other side of the ledger, UTIL 974 will lead to darkness and long-term gloom, despair, agony and misery.
12/4/22;
7:00 PM EST =
12/2/22;
9:00 AM EST =
11/30/22;
7:00 PM EST EOM = +41; signal line is +23
11/30/22;
3:14 PM EST = +41; signal line is +22
11/29/22;
10:00 AM EST = +25; signal line is +22
11/29/22;
9:36 AM EST = +26; signal line is +22
11/28/22;
3:00 PM EST = +10; signal line is +23 but algorithm remains long
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