Keybot the Quant remains short with the algo number 34 points below the signal line. The bears are cruising with banks failing yesterday.
Bears need NYA below 15158 to kick-in serious downside for stocks. Watch this number closely over the coming days. If the NYA comes down to 15158 and bounces, stocks may remain buoyant for a few more weeks. If NYA fails at 15158, it is all over but the crying (for bulls).
SPX 3967, call it 3963-3967, is another key bull/bear line in the sand. Utilities recovered so the major crash profile is back off the table for now, but if the S&P 500 loses 3963-3967, only about 100 points lower, you will see bloody carnage begin on Wall and Broad.
Bulls need stronger banks, chips, utes, copper and commodities to right the ship but these parameters are all sitting in the penalty box currently.
4/30/23;
7:00 PM EST EOM =
4/28/23;
10:00 AM EST =
4/25/23;
10:00 AM EST = -5; signal line is +29
4/25/23;
9:36 AM EST = -4; signal line is +30
4/24/23;
3:15 PM EST = +12; signal line is +31
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