Keybot the Quant remains short with the algo number 19 points below the signal line. The banks are sending the stock market to and fro to begin the week. As the banks go, so go the markets. The XLF bull/bear line in the sand is at 33.13 with price at 33.14 creating a smidgeon of bullishness in the stock market. Stocks will weaken if XLF drops below 33.13.
In general, bears need weaker banks and utilities and higher volatility to gain traction to the downside.
Bulls need stronger banks, utes, copper and commodities. Copper futures are selling off today.
The caution flag remains out but if XLF drops below 33.13, it can be removed. Hello. XLF is trading at 32.85 in the pre-market about 4 hours before the opening bell. The bears are growling. S&P futures are off -21 points. Keybot prints a pre-scheduled number at 10 AM EST.
4/30/23;
7:00 PM EST EOM =
4/28/23;
10:00 AM EST =
4/25/23;
10:00 AM EST =
4/24/23;
3:15 PM EST = +12; signal line is +31
4/24/23;
2:12 PM EST = -4; signal line is +31
4/24/23;
1:26 PM EST = +12; signal line is +32
4/24/23;
11:14 AM EST = -4; signal line is +33
4/23/23;
7:00 PM EST = +12; signal line is +34
4/21/23;
9:53 AM EST = +12; signal line is +35
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