Keybot the Quant remains long. The current battle is retail stocks and banks versus utes and the SPX.
Bulls need either UTIL above 977.80 and/or SPX above 4035 to keep the upside party going. If the SPX moves above 4030-4040, it is a game-changer since the stock market will be signaling a cyclical bull market ahead. It is logical that SPX price will probably migrate higher to test the critical 4030-4040 resistance where a bounce of die decision will be made and impact the stock market for the entire year forward.
Bears need RTH below 163.01 and/or XLF below 34.70 to create market weakness. The quant likely needs to see one of these two parameters turn bearish and the SPX to drop below 3898 to flip short today. If either parameter drops below the bull/bear line in the sand, consider the imminent turn to the downside to be in play for the quant.
1/29/23;
7:00 PM EST =
1/27/23; 10:00 AM EST =
1/22/23;
7:00 PM EST = +46; signal line is +34
1/20/23;
2:10 PM EST = +46; signal line is +32
1/19/23;
12:08 PM EST = +30; signal line is +30 but algorithm remains long
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.