Keybot the Quant remains long. The commodities, SPX index and utilities are dictating the stock market direction. Bulls need GTX above 3606 and/or SPX above 4097 to receive more upside bull fuel. GTX is about a +3% gain needed but for the SPX, price begins at 4072 only 25 points away from 4097.
SPX 4097 is far more important than a simple bull/bear line in the sand. It dictates whether the US stock market remains in a cyclical bear or if it now transitions into a cyclical bull with lots of upside ahead. SPX moving above 4097 and 4100, and remaining above, opens the door to big numbers higher.
The bears need to pull UTIL lower below 974.50 and price is only about a point away. UTIL below 974.50 will create stock market sogginess but it is probably not enough to get the model to flip short. Nonetheless, consider the imminent turn to the short side to be in play if UTIL loses 974.50.
If UTIL loses 974.50, and then after a while moves back above, then back below again (jogging), the robot is likely getting ready to flip short. This type of action would walk the model to the bear side.
It's that simple; utes versus SPX. If UTIL loses 974.50, stocks will sell off but not fall apart, but if UTIL keeps jogging above and below 974.50, and resolves below, the stock market is likely going to drop and Keybot flip short.
If SPX moves above 4097, it is off to the races for the stock market. One of these two parameters will flinch and tell the market direction forward. The market action is noise until then. UTIL 974.50 and SPX 4097 is all that matter.
S&P futures are down -5 points Sunday evening on the US East Coast. Keybot prints one pre-scheduled number this week on Friday morning.
12/11/22;
7:00 PM EST =
12/9/22;
10:00 AM EST =
12/4/22;
7:00 PM EST = +41; signal line is +24
12/2/22;
3:59 PM EST = +41; signal line is +24
12/2/22;
3:39 PM EST = +25; signal line is +24
12/2/22;
1:36 PM EST = +41; signal line is +24
12/2/22;
9:36 AM EST = +25; signal line is +24
12/2/22; 9:00 AM EST = +41; signal line is +24
11/30/22;
7:00 PM EST EOM = +41; signal line is +23
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