Keybot the Quant remains short with the algo number only 1 point on the bear side. The big rally yesterday was not enough to flip the model long yet. Banks and copper remain weak.
The big drama occurring today is SPX 3960. This is where price is at and this is exactly the critical 12-month MA which is a key cyclical market signal. SPX 3960 is for all the marbles going forward. Bulls win big above. Bears win big below 3960 and bears will create carnage below 3925.
Bulls would be helped with VIX below 21.10 (now trading at 22.87 in real-time). Bulls also need NYA above 15050 to create huge upside in stocks.
If the SPX jogs above and below 3960 after the US opening bell, say 10 minutes above 3960, but then 10 minutes or a half-hour below 3960, then back above 3960, Keybot the Quant will likely flip long.
Bears can maintain weakness in the US stock market by simply keeping SPX below 3960. The drama continues and Keybot prints a pre-scheduled number shortly after the opening bell.
Happy St Patrick's Day; will the markets wear green today?
3/19/23;
7:00 PM EST =
3/17/23;
10:00 AM EST =
3/16/23;
3:59 PM EST = -47; signal line is -46
3/16/23;
9:00 AM EST = -61; signal line is -44
3/15/23;
9:36 AM EST = -61; signal line is -41
3/14/23;
3:59 PM EST = -45; signal line is -39
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