STOCK MARKET BEARISH -- SHORT -- CAUTION

Keybot the Quant remains short as the market turmoil continues after the Silicon Valley Bank and Signature Bank insolvencies. The bears are in charge but the algo number is only 6 measly points below the signal line so the bearish conviction is questioned.

The battle for market control is chips and copper versus the SPX and NYA indexes.

Bears need SOX below 2920 and/or CPER below 24.42 to create new stock market weakness. Copper futures need to drop about -0.3% and are down -0.6% about 6 hours before the US opening bell so bears are smiling as they guzzle coffee.

Bulls need SPX above 3957 and/or NYA above 15055. Either one will signal an upside rally in place and both would signal an upside orgy underway. If either parameter turns bullish, consider the imminent turn to the long side to be in play for the quant and it would likely flip long.

S&P futures are flat. The current weakness in copper hints that the set-up today is an advantage to the bears but the red metal is jumpy and was dead flat an hour ago.

3/19/23; 7:00 PM EST =
3/17/23; 10:00 AM EST =
3/16/23; 9:00 AM EST =
3/14/23; 3:59 PM EST = -45; signal line is -39
3/14/23; 3:23 PM EST = -61; signal line is -37
3/14/23; 3:08 PM EST = -45; signal line is -35
3/14/23; 1:31 PM EST = -61; signal line is -34
3/13/23; 11:01 AM EST = -45; signal line is -32
3/13/23; 10:14 AM EST = -61; signal line is -31
3/13/23; 9:36 AM EST = -77; signal line is -29
3/12/23; 7:00 PM EST = -61; signal line is -27