STOCK MARKET BULLISH -- LONG -- CAUTION

Keybot the Quant remains long. The markets idle to begin the week since Pope Powell speaks this morning. Keybot did not print any numbers yesterday.

The bulls are in charge of market direction with the algo number 21 points above the signal line.

The current game, aside from Powell's words this morning, is a battle between the banks and copper versus commodities. The banks were pumped on Friday creating the big rally in stocks.

Bears need XLF below 35.75 and/or CPER below 24.45 to create market negativity. This represents about a -0.8% drop in XLF and a -1.7% drop in copper futures. Let's take a look. Copper futures are down -1.4% so the bears are pushing but not there yet. XLF is unchanged in the pre-market sitting at 36.02. Bears likely need both the banks and copper to turn bearish to flip the model short.

Bulls need GTX above 3448 to prove they can take the stock market higher and it is knocking at the door at 3443. Commodities in general are flat to soggy to begin the day.

3/12/23; 7:00 PM EST =
3/10/23; 9:00 AM EST =
3/5/23; 7:00 PM EST = +13; signal line is -8
3/3/23; 11:29 AM EST = +13; signal line is -10
3/2/23; 3:17 PM EST = -3; signal line is -12; go long 3978; (Benchmark SPX for 2023 = +3.6%)(Keybot algo this trade = -0.6%; Keybot algo for 2023 = -0.9%)(Actual results this trade = -0.5%; Actual results for 2023 = -1.6%)