STOCK MARKET BULLISH -- LONG -- CAUTION -- TURN MAY BE IMMINENT

Keybot the Quant is long but the bulls are hanging on by a fingernail with the algo number only 1 tiny point above the signal line. The stock market is a coin-toss.

Yesterday, you saw the NYA come up and bump its head on the 15065 and then collapse signaling the end of day bearishness. The SPX loses the critical 3960 at the end of the session and this battle at the important 3960 will continue.

For today, the SPX, VIX and CPER tell the market story. Bulls need SPX above 3960 and/or VIX below 21.06 to guarantee a bullish rally ahead. One parameter turning bullish creates stock market upside and both turning bullish will create an upside orgy.

The S&P futures are up +20 and the VIX is trading at 21.51. Thus, the bulls have work to do needing to drive volatility lower. With the SPX starting at 3937 in the regular session, a move like the futures would put the cash price at 3957 knocking on the 3960 door. This is obviously the battleground today.

Bears need weaker copper to create negativity. Bears need CPER below 24.32 which represents a -1.4% drop in copper futures that are currently trading flat.

If SPX 3960 and higher occurs, the bulls are flexing their muscles and if the VIX drops below 21.06, it proves that up is the path ahead for stocks. If the SPX stalls at 3960 and begins trending lower while the VIX trends higher, the bears will growl strongly as they attack Dr Copper.

SPX 3960 dictates if the stock market is bullish or bearish going forward on a multi-week basis.

3/26/23; 7:00 PM EST =
3/22/23; 3:58 PM EST = -45; signal line is -46
3/22/23; 3:53 PM EST = -31; signal line is -46
3/22/23; 3:21 PM EST = -17; signal line is -47
3/22/23; 3:10 PM EST = -31; signal line is -48
3/22/23; 1:58 PM EST = -17; signal line is -48
3/22/23; 12:39 PM EST = -31; signal line is -49
3/22/23; 12:31 PM EST = -17; signal line is -49
3/22/23; 12:18 PM EST = -31; signal line is -50
3/22/23; 9:04 AM EST = -17; signal line is -50
3/21/23; 3:40 PM EST = -31; signal line is -50; go long 4004; (Benchmark SPX for 2023 = +4.3%)(Keybot algo this trade = +0.5%; Keybot algo for 2023 = +0.8%)(Actual results this trade = +0.6%; Actual results for 2023 = +0.7%)