Friday, January 20, 2023

STOCK MARKET BULLISH -- LONG -- CAUTION -- TURN MAY BE IMMINENT

Keybot the Quant remains long with the stock market direction a coin flip. Bulls need UTIL above 977.30 and RTH above 163.01 so they have some work to do.

Bears need GTX below 3498 and XLF below 34.66. GTX is at 3508 and XLF ends yesterday at 34.80. It is all about commodities and the banks. If either one turns bearish, stocks are going to take a big dip lower and the bears will gain stronger control to the downside. Watch for a jog move where one of the parameters will drop below the line in the sand but then pop back above for a short while, then drop below again; this will likely tell you the turn lower is at hand.

If either GTX loses 3498, or XLF loses 34.66, and the SPX drops below 3886 trending lower, Keybot the Quant will likely flip short, hence the imminent turn notation in the title line.

Bulls must hold the line with the commodities and banks. XLF is trading a touch soft in the pre-market at 34.77; bears need another 11 pennies lower to begin growling loudly.

1/22/23; 7:00 PM EST =
1/19/23; 12:08 PM EST = +30; signal line is +30 but algorithm remains long
1/19/23; 11:38 AM EST = +14; signal line is +29 but algorithm remains long

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