Keybot the Quant remains long. The bulls are slapping the bears silly. Bears capitulate covering their shorts sending stocks higher. The SPX blows up through the important 4037 line in the sand unleashing unlimited upside market joy. It is such an important number that there will be back tests from the top side for a few days, especially with the Fed on tap on Wednesday. Nonetheless, the bulls want to confirm a new cyclical bull market ahead and that occurs with the SPX closing above 4037 each day forward.
Commodities and utes are also in play. GTX is at 3507 and bears can stop the upside stock market rally if they push GTX below 3502 only 5 bucks away.
Utilities are creating negativity in the stock market and bulls must push UTIL above 978.256 to prove that the upside ahead for stocks will be euphoric. If UTIL fails to attain 978 in the week ahead, put your guard up. If UTIL drops in the days ahead and teases down towards 920, it tells you that the rally in stocks is getting old and will end anytime over the coming weeks and begin a long drop lower as well as opening the door to a potential crash scenario.
For now, as long as SPX is above 4037 and GTX above 3502, the bulls are grinning ear to ear.
Keybot prints 3 pre-scheduled numbers this week one on Tuesday morning, the second on Tuesday evening to mark the EOM and the third on Friday morning before the opening bell for the regular session.
If SPX and GTX both turn bearish, consider the imminent turn to the downside to be in play and the quant will likely flip short.
2/5/23;
7:00 PM EST =
2/3/23;
9:00 AM EST =
1/31/23;
7:00 PM EST EOM =
1/31/23;
10:00 AM EST =
1/29/23;
7:00 PM EST = +60; signal line is +40
1/27/23;
2:02 PM EST = +60; signal line is +39
1/27/23;
12:28 PM EST = +46; signal line is +38
1/27/23;
10:00 AM EST = +60; signal line is +39
1/26/23;
1:43 PM EST = +60; signal line is +38
1/26/23;
9:52 AM EST = +46; signal line is +37
1/26/23;
9:38 AM EST = +60; signal line is +37
1/25/23;
11:25 AM EST = +46; signal line is +36
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