STOCK MARKET BEARISH -- SHORT -- CAUTION

Keybot the Quant remains short as the turmoil from the Silicon Valley Bank failure continues. The bears are cruising with the algo number 34 points below the signal line. The crony capitalism officials are stepping-in to save the day, as usual, so S&P futures are up from +30 to +75 overnight.

The battle for market control is chips versus copper and the NYA Index. It appears a big rally may occur when the regular US trading session opens in about 4-1/2 hours. Copper is rallying and will be an immediate feather in the bulls cap if the futures remain positive.

Bears need weaker semiconductors to seal the deal for carnage ahead. Bears need SOX below 2903 which will create a big leg lower in the stock market. This morning appears rosy, however, so chips will probably rally stabilizing the stock market.

Bulls need stronger copper and NYA Index. Bulls need CPER above 24.42 and is only 2 pennies away. Considering the copper futures in rally mode right now up +0.5%, CPER will likely turn bullish. Bulls need NYA above 15060. This will be the big test today and a direct signal as to the strength of the relief rally.

If NYA overtakes 15060, the upside rally will gain momentum. This, however, is probably not enough to flip the model long. If this occurs, watch 15060 closely and if you see price move above for a while, then back below maybe for 10 minutes or a half-hour, then back above again, then below, then above. This jogging action likely tells you that the model is getting ready to flip long.

If CPER and NYA turn bullish, SPX 3955 can seal the deal for more rally time ahead. If SPX overtakes 3955, stocks are going to fly higher and the quant will likely flip long.

If NYA comes up to 15060 and hits its head on resistance and is spanked back down, and begins trending lower again, stocks will probably fall apart.

Keybot prints two pre-scheduled numbers this week one on Thursday morning and the other on Friday morning. Watch NYA 15060 today. It will tell you what is going on.

3/19/23; 7:00 PM EST =
3/17/23; 10:00 AM EST =
3/16/23; 9:00 AM EST =
3/12/23; 7:00 PM EST = -61; signal line is -27
3/10/23; 3:59 PM EST = -61; signal line is -25