Keybot the Quant remains short spitting out 7 numbers on Friday including the pre-scheduled number. The bears remain in charge of stock market direction but the algo number is only 8 measly points below the signal line. The caution flag is out and a boost to the utes on Monday would help the quant flip long.
Utilities failed on Friday once again opening the door to a major stock market crash ahead that can begin at any time over the coming days and few weeks. The UTIL 960-962 bull/bear line in the sand must be a major focus for you this week since it tells you not only the short-term fate of stocks but also the intermediate and longer term.
Bulls desperately need UTIL above 962 or the stock market will deteriorate. Bears need UTIL to remain below 960 and trend lower which will usher-in pain and misery for the stock market.
Banks continue a whipsaw ride so watch the XLF 33.11 bull/bear line in the sand with price at 33.17 only 6 pennies away. As banks and utes go, so go the markets.
If UTIL regains 962 trending higher, it is likely that Keybot the Quant will follow and go long. If XLF loses 33.11, stocks will likely begin falling apart.
April is in the bag. Gone are the showers, now come the flowers; or will it be sorrows. May trading begins on Monday. May Day.
4/30/23;
7:00 PM EST EOM =
4/28/23;
3:12 PM EST = -5; signal line is +3
4/28/23;
2:49 PM EST = -21; signal line is +4
4/28/23;
1:06 PM EST = -5; signal line is +6
4/28/23;
12:10 PM EST = +11; signal line is +8 but algorithm remains short
4/28/23;
11:11 AM EST = -5; signal line is +9
4/28/23;
11:04 AM EST = -21; signal line is +10
4/28/23; 10:00 AM EST = -5; signal line is +13
4/27/23;
3:50 PM EST = -5; signal line is +15
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